Analysing Materials and Energy Flows in an Industrial District using an Enterprise Input–Output Model

Recent approaches to sustainable development leave much room for policies at a local level. In fact, it is becoming evident that targets such as increasing resource productivity, preserving natural cycles, or extending the present level of welfare, are best pursued within the confines of a local area. In particular, environmental changes are best brought about by considering local systems of firms as cornerstones of cooperative strategies and using data on materials and energy use in physical terms. In this paper, an enterprise input–output model is developed for an industrial district, i.e. a local group of firms specialized in the production of a single final output. The model allows for a detailed quantitative analysis of materials and energy flows and the consequent generation of waste and pollution. As a planning tool, the model may be used to evaluate alternative scenarios, such as the possibility of re- using waste taking account of sustainability requirements. An empirical case study applies the model to an industrial district in Southern Italy producing leather sofas.     

Regulating Banks through Market Discipline: A Survey of the Issues

Abstract.  The interest in the application of market discipline to regulate the financial industry has boomed recently due to the proposed New Capital Accord. This paper reviews the potential role market discipline can play in financial regulation. We start with a discussion of the rationale for financial regulation and with a brief history of the current regulatory mechanisms. Next, a definition of market discipline as a regulatory mechanism is advanced. We evaluate the disciplining power various market participants have. Finally, we argue that more external risk management disclosure is a condition sine qua non in order to enable market discipline as a regulatory mechanism. In this respect, the Basle Committee has taken the right approach.     

A comparison of monetary family policy in the European Community

In a number of constitutions, in article 16.3 of the International Bill of Human Rights and in article 23.1 of the International Covenant on Economic, Social and Cultural Rights it is laid down that the family is the natural and fundamental group unit of society and is entitled to protection by society and the State. The following exposition aims to explain the monetary family policy and the extent of monetary transfers for the protection of families in the member countries of the European Community (EC).     

Demand for durable and nondurable goods,environmental policy and consumer welfare

If a tax on energy affects the demand for a nondurable good, the stock of a durable good, and the proportion of the energy consumption per unit of service of the durable good, an integrated approach for investigating consumer demand for durables and nondurables is required. The purpose of this paper is to employ the concept of a variable expenditure function with quasi-fixed durable goods as arguments in order to derive a demand system for nondurable goods in prices of the nondurables, in the stocks of durables, and in variable expenditure. From the envelope condition desired stocks of durables can be calculated and investment demand for durables can be determined. For an application we choose a variable expenditure function based on the almost ideal demand specification, and evaluate alternative environmental policy measures using the equivalent variation for comparing the welfare effects.     

Forecasting residential burglary

Following the work of Dhiri et al. [Modelling and predicting property crime trends. Home Office Research Study 198 (1999). London: HMSO] at the Home Office predicting recorded burglary and theft for England and Wales to the year 2001, econometric and time series models were constructed for predicting recorded residential burglary to the same date. A comparison between the Home Office econometric predictions and the less alarming econometric predictions made in this paper identified the differences as stemming from the particular set of variables used in the models. However, the Home Office and one of our econometric models adopted an error correction form which appeared to be the main reason why these models predicted increases in burglary. To identify the role of error correction in these models, time series models were built for the purpose of comparison, all of which predicted substantially lower numbers of residential burglaries. The years 1998–2001 appeared to offer an opportunity to test the utility of error correction models in the analysis of criminal behaviour. Subsequent to the forecasting exercise carried out in 1999, recorded outcomes have materialised, which point to the superiority of time series models compared to error correction models for the short-run forecasting of property crime. This result calls into question the concept of a long-run equilibrium relationship for crime.     

Recreation Demand and Residential Location

We use the properties of competitive location equilibrium to study the demand for recreation and the choice of primary residence location. Location-specific recreation and employment lead to pooling equilibria in which consumers reside according to their preference for recreation. In general, the stronger the taste for recreation, the greater the attraction of living close to the recreation site and the lower the demand for other goods, including housing. We explore the effects of trip frequency, trip length, and recreation cost on the spatial distribution of consumers. We also consider the effect of the wage rate on recreation and location demands.