Questions of shipping policy

The states of the Third World will reassert their many known demands for improved integration in the international economic exchanges at UNCTAD V to be held in Manila in May and add new ones to their list of requests. It is clear from the first discussion papers prepared for the conference by the UNCTAD Secretariat that the sea-borne traffic will receive more attention in this catalogue of demands in future.     

Total factor productivity, the east Asian miracle, and the world production frontier

Total Factor Productivity, the East Asian Miracle, and the World Production Frontier. — The post WWII growth of the East Asian Tiger states has stimulated the discussion about its determinants. Young and Krugman hold that high capital accumulation rather than gains in efficiency or technological progress has spurred growth. Nelson and Pack, however, have recently criticized the methods of measuring technological progress. Applying the nonparametric approach to frontier production function determination and the Malmquist index of total factor productivity change, the authors take up this criticism. They calculate productivity indicators for a sample of 18 American, Asian, and European countries. For the Tiger states, their results confirm that capital accumulation was the main source of growth in 1960-1973, whereas they find evidence for an increasing importance of efficiency improvements for the growth in 1973-1990.     

A generalization of Panjer’s recursion and numerically stable risk aggregation

Portfolio credit risk models as well as models for operational risk can often be treated analogously to the collective risk model coming from insurance. Applying the classical Panjer recursion in the collective risk model can lead to numerical instabilities, for instance if the claim number distribution is extended negative binomial or extended logarithmic. We present a generalization of Panjer’s recursion that leads to numerically stable algorithms. The algorithm can be applied to the collective risk model, where the claim number follows, for example, a Poisson distribution mixed over a generalized tempered stable distribution with exponent in (0,1). De Pril’s recursion can be generalized in the same vein. We also present an analogue of our method for the collective model with a severity distribution having mixed support.     

Die Anforderungen an die interne Unternehmenskommunikation in neuen Organisationskonzepten

This article mainly concentrates on two questions: 1. What functions does an internal corporate communication perform in a learning organization, and in relation to knowledge management? 2. Under which conditions or circumstances can internal corporate communication fulfill these functions? In the concepts of organizational learning and knowledge management, internal communication gains an important productive function in generating, processing and saving knowledge. Instruments and tools such as face-to-face communication, internal magazines, information boards and the use of an intranet are discussed. As far as the generation, production and saving of knowledge are concerned, the instrument of face-to-face communication and the intranet are gaining special importance. In order to cope with these functional challenges, the internal corporate communication has to institutionalize selective incentives and motivating factors. For generating and saving knowledge, the actors’ reception of these media of communication seems of great importance also: Only a unified «community of practice» is able to transform information into knowledge.     

Liberalisation of the capital markets in developing countries

Intereconomics - The domestic capital markets of developing countries are typically subject to serious inefficiencies. This article shows how these inefficiencies can be eliminated without...     

私人部门在满足医疗需求方面的作用（上）

本文就私人部门在满足医疗需求方面的作用进行分析,认为如果私人部门能够得到有效监管,并按照社会道德认同的方式进行运转,一国医疗体系就能够受益于私人部门。本部分探讨了医疗体系的基本功能及其目标,介绍了绝对平均主义、两阶层医疗体系和多阶层医疗体系三种分配医疗服务的观点,指出当前用货币价值衡量医疗产出价值是次优选择;而衡量医疗服务分配效率也存在争议。     

Within‐Subject Intra‐ and Inter‐Method Consistency of Two Experimental Risk Attitude Elicitation Methods

We compare the consistency of choices in two methods used to elicit risk preferences on an aggregate as well as on an individual level. We ask subjects to choose twice from a list of nine decisions between two lotteries, as introduced by Holt and Laury 2002, 2005 ) alternating with nine decisions using the budget approach introduced by Andreoni and Harbaugh ( 2009 ). We find that, while on an aggregate (subject pool) level the results are consistent, on an individual (within‐subject) level, behaviour is far from consistent. Within each method as well as across methods we observe low (simple and rank) correlations.