THE INFLUENCE OF ECONOMICS ON ANTITRUST LAW

Economists today play prominent roles in formulating antitrust policy and litigating antitrust cases. This paper explains why economics influences antitrust law and describes how economic theories enter and shape the antitrust system. Antitrust policy and doctrine change over time in response to developments in economic theory, and the decentralization of the antitrust adjudication system and the wide latitude accorded judges in interpreting antitrust statutes ensure that legal rules will reflect advances in the economic literature concerning the appropriate content of standards governing business conduct.     

Identification of and Responses to Problem Drinking Amongst Social Services Users

Correspondence to Alan Lawson, Research Officer, Department of Social Services, London Borough of Hounslow, Civic Centre, Lampton Road, Hounslow, Middlesex TW 3 4DN. Summary The NHS and Community Care Act (1990) has required local authoritiesto plan for social care aspects of services for alcohol misusers.Research was therefore commissioned by senior managers of theLondon Borough of Hounslow's Social Services Department to investigatethe effect of alcohol misuse amongst Social Services users onthe work of the Department. Research methods are summarizedand the main findings and their implications are discussed.The importance of relevant training was highlighted, in particularin relation to the identification and assessment of alcoholproblems and to child protection issues.     

ANALYSIS OF ALTERNATIVE SCHEDULING POLICIES FOR HOSPITAL NURSES

The persistent shortage of nurses adversely affects the productivity, quality of care, and operating costs in most acute care hospitals. Aggravating the shortage are high nurse turnover rates, approaching 200% in some institutions. Policies to ensure adequate staffing levels and provide more attractive work schedules are alleged to improve nurse retention. However, their cost is seldom discussed. We compared expected nursing expense and workforce requirements to staff eight medical and surgical nursing units of a large hospital for 1 month, under 12 different scheduling policies alleged to improve turnover. Using simulation and an integrated staffing and scheduling methodology, we found that the expected nursing wages and workforce requirements for some policies differed by as much as 33%. In this hospital, the expected labor costs for certain policies could erode the benefits expected from improved retention. In contrast, other policies appear to allow high utilization of nursing resources, enhancing the expected benefits of reduced turnover with significant reductions in expenses for labor, recruiting, training, and fringe benefits.     

LOAD CUBING AT R. J. REYNOLDS

R. J. Reynolds Tobacco USA (RJR) is currently implementing a microcomputer-based decision support system to computerize and optimize the selection of patterns for loading cases of finished product into truck trailers at RJR's Central Distribution Center. This system allows for the efficient loading of trucks with less supervision. Total annual savings from reduced personnel and shipping costs is approximately $850,000. In addition to these benefits, the system is a stepping stone for trailer loading automation and the integration of a comprehensive load planning system.     

THE TAXPAYER RELIEF ACT OF 1997 AND HOMEOWNERSHIP: IS SMALLER NOW BETTER?

Prior to the Taxpayer Relief Act of 1997 (TRA97), the capital gain from the sale of a home was taxed differently for those over and under the age of 55. TRA97 eliminated this differential treatment. Using a difference‐in‐difference approach, we find that home sellers slightly under the age of 55 were 6.2% more likely to move for a less expensive house to maintain, 6.6% less likely to move for a larger place, and 5.2% more likely to reside in a condominium after TRA97's enactment, relative to those slightly over 55. (JEL H24, R21)     

Creating a manufacturing environment that is in harmony with the market—the ‘how’ of supply chain management

The inherent instabilityof complex supplychains is well understood and documented; the potential benefits of taking time out of the chain in terms of reduced inventory and lower operating costs are clearly substantial. There is now a broad community of managers and practitioners who know ‘what’ in principle needs to be done. The issue for all is ‘how’ to go about it for their particular business. This paper builds on an organizational trade-off model through which logistics moderates the conflicting demands and culture of manufacturing on the one hand and marketing on the other. The paper introduces three practical techniques for securing the benefits of supply chain management: time-based simulation; cost-to-serve; and piloting change. Used together these methodologies can deliver breakthrough in supply chain effectiveness.     

THE MAKING OF MONETARY POLICY: DESCRIPTION AND ANALYSIS*

At the present time Federal Reserve policy-making may be viewed as having a two-part structure. First, based on a four to eight quarter economic forecast, the Fed selects a target rate of money growth. Second, based on a short-term money market forecast, the Fed selects a Federal funds rate range thought to be consistent with the money growth target. The procedure followed in selecting the money growth target is “state-of-the-art” but the policy implementation based on controlling the Federal funds rate has permitted an undesirable pro-cyclical behavior of the money stock.     

VOLUNTARY ASSOCIATION AFFILIATION AND NATIONAL DIVERSITY*

Par nature, les associations volontaires sont des intermédiaires qui établissent les liens nécessaires entre les institutions de la société. Plus une société est hétérogene, plus elle requiert d'associations qui peuvent représenter les divers intérêts et, à la fois, empêcher ces divers intérêts de mener à une désorganisation individuelle et sociale. L'analyse de données de cinq nations révèle une correspondance entre la diversité nationale et l'affiliation à des associations volontaires. Cette correspondance est vue comme fournissant un support partiel à la thèse avancée. It is argued that voluntary associations are interstitial in character, providing needed linkages between society's institutions. More heterogeneous societies require greater numbers of associations to represent divergent interests and at the same time to prevent these varied interests from leading to personal and social disorganization. Analysis of data from five nations shows a correspondence between national diversity and voluntary organization affiliation. The correspondence is interpreted as partial support for the thesis advanced.