Prices and factor demand in an endogenized input–output model

This paper combines factor demand functions (for intermediate input and labour) and price equations (derived from a Generalized Leontief cost function) with the traditional input–output price model. The cost functions determine factor demands for materials and labour as well as output prices at given input prices. At the second level of aggregation, the intermediate demand as a single input is split proportional to the elements in the column of the technical coefficients matrix. The emphasis in this endogenization of technical coefficients is on two features. First, the repercussion of output on input prices, and, second, the link between the econometric model for the supply side and the input–output demand model.     

Oil from Chinese deposits

From 18–25 March the United Nations’ “International Meeting on Petroleum Geology” will take place in China, a country whose oil reserves up to the mid-sixties had been judged by foreign observers to be minute and the development of her oil sector of no major importance. Today, with an annual crude output of 106 mn tons, China already ranks ninth among the world’s oil producers. And, with the prospect of a further advance towards leadership among producers and exporters of the coveted energy material, the West is showing growing interest in China’s energy potential. How real is this prospect?     

Auditor independence and nonaudit services: Director views and their policy implications

The external auditor's role and relationship with an audit client are not purely matters of private concern between the two parties. The rationale for the external auditor's work—indeed a primary justification for the existence of the public accounting profession—arises from the need for reliable financial information in order for our economy to operate smoothly. Thus the auditor, in certifying financial statements, performs a quasi-public function. The necessary relationship between auditor and client is one of complete independence. In recent years public policymakers including the U.S. Congress have questioned the propriety of auditors' performing nonaudit services for their clients. This paper reports the results of an empirical study of U.S. corporate directors who considered the propriety of allowing a firm's auditors to perform various nonaudit service engagements.The results show, especially in the case of systems design, increasing director concern and a lack of overall consensus as nonaudit services approach 40 percent of the firm's audit fee. Policy implications of the findings are considered.     

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Über die Parameterschätzung bei Kontingenztafeln,deren Randsummen vorgegeben sind (I)

Ohne Zusammenfassung Wird im n?chsten Heft fortgesetzt und abgeschlossen.     

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