The Relative Size of Windfall Income and the Permanent Income Hypothesis

A reconciliation is offered for the diverse test results on Friedman's permanent income hypothesis. A large data sample of those receiving windfall income in the Bureau of Labor Statistics' 1972–1973 Consumer Expenditure Survey is divided according to the size of the windfall relative to estimated permanent income. A pattern of a declining marginal propensity to consume windfall income as the relative size of the windfall increases is apparent. These results support the permanent income hypothesis for relatively large windfalls.     

Financial-Firm Production of Monetary Services: A Generalized Symmetric Baroett Variable-Profit-Function Approach

An alternative monetary-production model of financial firms is employed to investigate supply-side monetary aggregation. Financial firms are conceived to produce monetary services as outputs through financial intermediation. A new method for testing the existence of consistent monetary-output aggregates in financial firms' production technology is developed in terms of a multiproduct firm's variable profit function, and the method does not require homotheticity of the aggregator function. We use a generalized symmetric Barnett flexible functional form. That specification satisfies global curvature conditions and retains its flexibility under the null hypothesis of weak separability. Neither of those properties is possessed by other flexible functional forms.     

Beyond the CPI: An Augmented Cost-of-Living Index

This note examines an augmented cost-of-living index (ACOLI) for the purpose of accounting for “augmented consumption” in real-income measures. Well-being includes not only conventional consumer purchases but also goods and services provided by employers, by mandated social regulations, and by tax-financed public goods. Because augmented consumption is often provided in ways that raise prices but not market incomes, deflating with conventional price indexes may understate real income growth. An exploratory application of the ACOLI approach to the United States during the 1960–1997 period suggests that the Consumer Price Index has grown about 19% faster than the ACOLI. This correction would reduce the estimated cost-of-living increase by .47% per year over the last 37 years.     

Correlation in a Bayesian framework

The authors consider the correlation between two arbitrary functions of the data and a parameter when the parameter is regarded as a random variable with given prior distribution. They show how to compute such a correlation and use closed form expressions to assess the dependence between parameters and various classical or robust estimators thereof, as well as between p‐values and posterior probabilities of the null hypothesis in the one‐sided testing problem. Other applications involve the Dirichlet process and stationary Gaussian processes. Using this approach, the authors also derive a general nonparametric upper bound on Bayes risks.     

The historical decline of fertility in Eastern Europe

I test the hypothesis that the growth of autonomy was the factor responsible for the decline of marital fertility in eight Eastern European countries. By growth of autonomy I mean increased control over one's political, personal, religious, economic and reproductive life. This increased control was manifested in revolutions, democratic political reforms, nationalist movements and declining marital fertility. The political reforms were the result of the growth of autonomy but they also accelerated the dissemination of these new ideas among the populace contributing to further growth of autonomy. My hypothesis is generally supported by the historical data.     

Environmental regulatory influence and product innovation: the contingency effects of organizational characteristics

This paper examines the relationship between environmental regulatory influence and product innovation in a multi-industry sample of manufacturing organizations. Our theory argues that the influence of environmental regulation on the level of product innovation in a manufacturing organization is at least partially contingent on the organization's internal characteristics—in particular, its structural flexibility and production process flexibility. Hypotheses are derived from our theory and tested, and the results are consistent with the conclusion that structural flexibility and production process flexibility moderate the environmental regulatory influence–product innovation relationship. Whether environmental regulation inhibits or promotes product innovation seems to depend at least in part on certain internal features of an organization. We discuss implications of our results for future organization studies research on environmental regulation, and for research on other types of external constraints on organizational performance.     

International Humanitarian Law and Combat Casualties

The purpose of the article is to provide an overview of the law regulating combat in order to assist in determining whether casualties inflicted in combat should be classified as victims of war or victims of war crimes. The boundaries and the content of International Humanitarian Law are indicated. A brief statement of the law regulating combat is given. The concepts of military objective and of proportionality are analyzed. The scope of an unlawful attack is addressed as is the relationship between unlawful attack offences and other offences in International Humanitarian Law. The article concludes with a discussion of when combat casualties are war crimes victims.     

在竞争与合作中创建世界城市——以苏格兰中部地区城市为例

本文分析和比较了增长集群不同种类的发展,从集群角度看,重点放在本地的互动和创新方面,并且证明是有益的,因为越来越多的经济活动跨越了传统经济部门和创新的范围.为了能够分析和比较不同集群的不同类别,本文构建了一个提升城市竞争力的分析框架,从空间经济条件、集群的特定条件及集群的组织能力三大要素出发,在城市范围内对集群进行深入分析,同时详细阐述了三大要素在集群发展中的作用.