Business Economics articles from October 2000

Business Economics archives from October 2000

FROM THE EDITOR.(Editorial)
October 1, 2000... As promised in the July issue, much of this issue explores implications, possible solutions, and prognosis concerning the reduction--and possible disappearance--of U.S. Treasury debt. Of course, the prospective demise of Treasury debt is a...

The Challenge of Affluence.(the growing U.S. economy)
October 1, 2000... HOW DO WE ADAPT TO CHANGING TIMES? If economic policymakers behave prudently, the good times in the U.S. can roll on for several more years. The future, however, is likely to be very different from the past, as the expansion's momentum...

Life Without Treasury Securities.
October 1, 2000... PORTFOLIO MANAGEMENT AND THE NATURE OF FINANCIAL CRISES WOULD BE PROFOUNDLY DIFFERENT. The U.S. Treasury debt may soon be paid off. However, Treasury securities perform vital and difficult-to-replace roles: as riskless assets in...

The Demise of the 30-Year Treasury Bond as a Benchmark or Pricing Fixe -- Income Securities.(Statistical Data Included)
October 1, 2000... THERE ARE SOME GOOD ALTERNATIVES. With all the drama and finality that the prestigious Wall Street Journal could muster, it declared this past May 3 that the reign of the 30-year Treasury bond as the benchmark for pricing fixed-income...

Diminishing Treasury Supply: Implications and Benchmark Alternatives.(Statistical Data Included)
October 1, 2000... THE TREASURY CURVE DISTORTION THROWS ANALYSTS A CURVE BALL AND SENDS MARKET PARTICIPANTS SCRAMBLING FOR NEW BENCHMARKS. Over the last year, the fixed income markets have become increasingly subject to technical distortions as the...

Bribery in International Business Transactions and the OECD Convention: Benefits and Limitations.
October 1, 2000... This article reviews common reasons why multinational firms have given questionable payments to foreign officials, noting that unsavory business practices have been extremely difficult to change. In-depth interviews with academics and...

Implementing the New Sample Design for the Current Employment Statistics Survey.
October 1, 2000... In June 1995, the Bureau of Labor Statistics (BLS) announced plans for a comprehensive sample redesign of its monthly payroll survey--the first one ever undertaken in the program's long history, which dates back over sixty years. In June 2000,...

The Global Market for Electric Vehicles.(Industry Overview)(Statistical Data Included)
October 1, 2000... Worldwide sales of electric vehicles are slated to increase at the rate of sixty percent per annum in the coming years. We project global sales of more than one million such vehicles valued at $24 billion in the year 2007. The number of such...

Economic Implications of the Human Genome Project.
October 1, 2000... Understanding the human genome is likely to he one of the major scientific accomplishments of the early 21st century. [1] Its implications promise to be profound and far-reaching. The purposes of this article are to place the human genome...

On Money and Markets: A Wall Street Memoir.(Review)
October 1, 2000... By Henry Kaufman, New York, NY: McGraw-Hill, 2000, 388 pp., $24.95 hardcover. In the mid-1970s, whenever Henry Kaufman encountered Walter Wriston, then Chairman of Citicorp, Wriston would greet the famous Wall Street bear by asking, "Is...

The Evolving Bargain: Strategic Implications of Deregulation and Privatization.(Review)
October 1, 2000... By Willis Emmons, Boston, MA: Harvard Business School Press, 2000, 320 pp., $35.00 hardcover. The Evolving Bargain is a book about business competition. The competition is not between firms, although there is a section about it. The...

ERRATA.(Correction Notice)
October 1, 2000... In Jian-Chiu Han, "Equity Valuation Cannot Outgrow the Economy in Long Run" (July 2000), the following two corrections should be noted: 1. On page 56, equation (6) appeared as "rp = g - Yd(1+g)". It should read as "rp = g - i + Yd(1+g)"....