THE ECONOMICS OF EMERGENCY MEETINGS

In this article, we examine the timing of emergency meetings. Meetings are critical to the success of organizations, allowing them to coordinate information, discuss strategies, and realign policies to meet their objectives. We treat the emergency meetings between scheduled meetings as real options. The optimal strategy involves time‐varying threshold values that, when exceeded, trigger an emergency meeting. The model explains why organizations need both scheduled and emergency meetings. The model also predicts more frequent emergency meetings during periods of high volatility and a hump‐shaped distribution for the timing of emergency meetings. We find empirical support for these predictions using data from the Organization of Petroleum Exporting Countries and the Federal Open Market Committee of the U.S. Federal Reserve system. (JEL C44, C61, C63)     

Seasonality of coitus and seasonality of birth

Seasonal variation of birth rates has been observed in every population in which it has been studied. Many hypotheses have been advanced to account for the variation, including seasonal variation in frequency of coitus. This relationship is known to be true for other primates, but seasonal variation in coital rate has not been previously documented in man.This paper presents over one hundred woman-years of data on coital rates from about .fifty white, mostly well-educated, premenopausal, married, husband-present volunteers. Seasonal fluctuations were seen in coital rates, of about the same magnitude as seasonal variations in the white birth rates reported for New York City, 1962-64; for the United States, 1963; and for the highest socioeconomic quintile census tracts, Baltimore, 1952-56. However, shifting the birth rates back forty weeks to approximate conception dates revealed no association with the observed coital rates.If the pattern presented has great generality, seasonal variations in births cannot be explained by seasonality of coitus.     

Macroeconomic Implications of Agglomeration

Cities exist because of the productivity gains that arise from clustering production and workers, a process called agglomeration. How important is agglomeration for aggregate growth? This paper constructs a dynamic stochastic general equilibrium model of cities and uses it to estimate the effect of local agglomeration on aggregate growth. We combine aggregate time‐series and city‐level panel data to estimate the model's parameters via generalized method of moments. The estimates imply a statistically and economically significant impact of local agglomeration on the growth rate of per capita consumption, raising it by about 10%.     

Sharing Rule Identification for General Collective Consumption Models

We propose a method to set identify bounds on the sharing rule for a general collective household consumption model. Unlike the effects of distribution factors, the level of the sharing rule cannot be uniquely identified without strong assumptions on preferences across households. Our new results show that, though not point identified without these assumptions, strong bounds on the sharing rule can be obtained. We get these bounds by applying revealed preference restrictions implied by the collective model to the household's continuous aggregate demand functions. We obtain informative bounds even if nothing is known about whether each good is public, private, or assignable within the household, though having such information tightens the bounds. We apply our method to US PSID data, obtaining narrow bounds that yield useful conclusions regarding the effects of income and wages on intrahousehold resource sharing, and on the prevalence of individual (as opposed to household level) poverty.     

Bank Mergers Under a Changing Regulatory Environment

Sociological Forum - Over the last 30 years, American banks transformed their organization through mergers and concentration. Which organizational theory better fits banks' responses to the...     

Individual Differences in Hand Movements During Deception

This article addresses the influence of 2 personality traits on making hand movements during deception, namely public self-consciousness and ability to control behavior. It was hypothesized that especially individuals with high public self-consciousness and individuals who are skilled in controlling their behavior would make fewer hand movements during deception compared to truth-telling. A total of 56 participants were interviewed twice; in one interview they told the truth and in the other interview they lied. Before the interviews the participants completed a personality inventory to measure their levels of public self-consciousness and ability to control their behavior. The results supported the hypotheses. Some implications of these findings are discussed.