Business Economics articles from October 2007

Business Economics archives from October 2007

From the editor.(Editorial)
October 1, 2007... "The NABE President selects the Adam Smith Award recipient based upon leadership in the profession and the use of ideas and knowledge in the workplace and policy arena." For the 2007 Award, Carl Tannenbaum selected John B. Taylor, whose...

The explanatory power of monetary policy rules: simple principles have big impacts.
October 1, 2007... Over the past 20 years, the use of monetary policy rules has become pervasive in analyzing and prescribing monetary policy. This paper traces the development of such rules and their use in the analysis, prediction, and stabilization of national...

The incredible shrinking banking industry: fewer players in a riskier, more complex game.
October 1, 2007... To some, the tumultuous events in the credit markets in the summer of 2007 came on suddenly and without context. While the extent and magnitude of the dislocations were certainly unexpected, the author argues that the groundwork for such events...

Forecasting components of consumption with components of consumer sentiment: consumer sentiment indexes used with conventional macroeconomic variables can improve four-quarter-ahead forecasts.
October 1, 2007... We present new evidence that existing, but long-ignored, measures of consumer sentiment can reduce errors in forecasting total consumption expenditures and its components. The component questions of the aggregate Index of Consumer Sentiment...

An empirical model of the sources of innovation in the U.S. manufacturing sector: one must look beyond R & D to understand innovation.
October 1, 2007... This paper estimates a simple model of innovation in the U.S. manufacturing sector and derives summary indicators of product and process innovation. Our empirical work reveals that the drivers of innovation extend well beyond business research...

Analyzing the link between real GDP and employment: an industry sector approach; Employment responsiveness to long-term real GDP expansion differs markedly across U.S. industry sectors.(Gross domestic product)
October 1, 2007... This paper offers insight into the "jobless recovery" phenomenon recently experienced in the U.S. economy by examining industry-sector employment responsiveness to the long-term real GDP expansion occurring during 1991-2001. Two employment...

Comparing aggregate housing price measures.(FOCUS ON STATISTICS)
October 1, 2007... In the midst of the current housing slump, borrowers and lenders alike would benefit from a better understanding of what drives aggregate housing prices. Doing so requires an accurate measure of aggregate prices. Unfortunately, it is difficult...

The global market for agricultural machinery and equipment.(FOCUS ON INDUSTRIES AND MARKETS)(Industry overview)(Company overview)
October 1, 2007... On a global basis, growth in the current-dollar sales of agricultural machinery and equipment was almost six percent per annum during 2000-2005. (1) This was much faster than the 2.6 percent growth for agricultural output and the 1.2 percent...

A Farewell to Alms: A Brief Economic History of the World.
October 1, 2007... A Farewell to Alms: A Brief Economic History of the World By Gregory Clark. 2007. Princeton University Press. Pp. 420, $29.95 hardcover. Developed countries have given $2.3 trillion dollars in foreign aid to less developed countries...

Crisis of Abundance: Rethinking How We Pay for Health Care.
October 1, 2007... Crisis of Abundance: Rethinking How We Pay for Health Care By Arnold Kling. 2006. The Cato Institute. Pp. 110, $16.95, hardcover. In Crisis of Abundance, Arnold Kling outlines the fundamental problems with American health care finance,...