MONEY DEMAND DURING HYPERINFLATION AND STABILIZATION: BOLIVIA, 1980–1988

This paper examines the demand for money in Bolivia during the 1980s, a decade of extreme instability with annual inflation rates reaching over 20,000 percent, and a subsequent stabilization, with annual rates falling to less than 25 percent and remaining so for more than five years.
Our empirical analysis makes use of error-correction approaches, time-varying-parameter estimation with Kalman filtering, and GARCH models of expected inflation and inflation variance. We find that expected inflation and inflation uncertainty both matter for money demand. Time-varying estimates show that the reaction to monetary disequilibria was significantly faster during hyperinflation.     

ON THE INDEPENDENCE OF THE SAMPLE MEAN AND TRANSLATION-INVARIANT STATISTICS FOR MATRIX NORMAL DISTRIBUTIONS

We present an explicit characterization of the joint dependency structure of an n×p matrix normal random matrix such that the p-dimensional sample mean vector is independent of all translation invariant statistics.     

Mortality following conjugal bereavement,Belgium 1991-96: The unexpected effect of education

This paper examines excess mortality following spousal bereavement by time since bereavement, sex, age, and education. The main hypothesis challenged is that higher education buffers the harmful effects of spousal loss. Using a log-rate model, death-rate ratios (widowed/married) are estimated for 49,849 and 126,746 Belgian widowers and widows and an equal number of non-bereaved controls matched to the bereaved on their socio-demographic characteristics. The hypothesis that the more educated suffer less excess mortality is not supported. Although higher educational levels are associated with lower mortality in general, they do not alleviate the effects of bereavement. On the contrary, in the period immediately following spousal loss, the more highly educated seem to have more, rather than less, excess mortality. Three possible arguments are suggested to account for this: education-related differences in the partner-relationship, structural differences in the availability of appropriate social support, and cultural differences in potential support networks.     

Reaching out to Aggressive Children

Correspondence to Jo Carroll, 3 Barrow Close, Marlborough, Wiltshire SN8 2BD. Summary Social workers are increasingly being asked to offer therapeutichelp to young children who are persistently aggressive and defiant.The difficulties of working with such children, who appear toreject all efforts to help them, are recognized, and some guidanceis offered as to the timing of such work. Directive techniquesoften fail, as the children refuse to participate in any jointactivity. The value of non-directive play therapy as an approachto these children is outlined, and the practicalities of thistechnique are considered. Finally, a case study illustratesthe value of a non-directive approach with a particularly challengingchild.     

RESOURCE ALLOCATION IN PUBLIC POLICY: THE EFFECTS OF THE 65-MPH SPEED LIMIT

In 1987 the U.S. government allowed states to raise speed limits to 65-mph on some highways. We evaluate the consequences using a resource allocation perspective: the chance to drive faster reallocates traffic from side roads to the safer interstate highways, and a higher speed limit permits highway patrols to shift manpower from speed enforcement to other safety activities. This perspective implies that we should measure the effect of a speed limit by its systemwide rather than its local effects. We do so and find that the fatality rate dropped by 3.49%-5.1% following the speed limit increase. (JEL A10, R40)     

Development and teaching a computer-assisted course in production planning

Abstract. Course development and student activities are described for a successful computer-assisted senior level course in production planning. Development was guided by the view that students must (1) understand the elements being integrated, (2) understand the problems that are being resolved through integration, and (3) participate in the integration activity. Production planning is treated as a hierarchy of individual decision situations which are to be integrated. Each decision is assisted by a software-based technique. A menu program and a common database were developed to allow a student to become the 'integrator' by directing the information flow among the individual decision situations. The paper describes the development tasks, the course elements, and student activities which provide guidelines for others developing similar courses.     

THE IMPACT OF PRODUCT RECOVERY ON LOGISTICS NETWORK DESIGN

Efficient implementation of closed‐loop supply chains requires setting up appropriate logistics structures for the arising flows of used and recovered products. In this paper we consider logistics network design in a reverse logistics context. We present a generic facility location model and discuss differences with traditional logistics settings. Moreover, we use our model to analyze the impact of product return flows on logistics networks. We show that the influence of product recovery is very much context dependent. While product recovery may efficiently be integrated in existing logistics structures in many cases, other examples require a more comprehensive approach redesigning a company's logistics network in an integral way.     

Baseball in England: A Case of Prolonged Cultural Resistance

Abstract  The concern within this paper is to examine how, notwithstanding the growing global power of the USA and the declining power of Britain over a period of fifty years from 1874 to 1924, a series of attempts made by American entrepreneurs to establish the game of baseball in England were, to all intents and purposes, rebuffed. On four separate occasions during this period various American baseball entrepreneurs put on exhibition matches of baseball. On each occasion, baseball was given short shrift within the English press. We provide an empirical account before engaging in some theoretical reflections utilising a figurational sociological approach.