DS-optimal designs in one way ANOVA

Characterization and construction of optimal designs using the familiar optimality criteria, for example A-, D- and E-optimality are well studied in the literature. However the study of the Distance Optimality (DS-) criterion introduced by Sinha (1970) has very recently drawn attention of researchers. In the present article, we consider the singularly estimable full rank problem of estimating the full set of elementary treatment contrasts using the DS optimality criterion in the set up of a one way ANOVA model. Using a limit argument it turns out that a CRD in which difference between any two allocation numbers is at the most unity is uniquely DS-optimal. Acknowledgement. We are thankful to Prof. B. K. Sinha for suggesting the problem to us and many helpful discussions with him. We are also thankful to the referees for drawing our attention to the reference of Bischoff (1995) and many helpful comments.     

Minimum wage and restaurant hygiene violations: Evidence from Seattle

We study the association between the minimum wage and food establishment hygiene violations between Seattle (the treated city) and Bellevue (the control city), both cities located in King County and sharing the same health inspection department. An increase in the real minimum wage of $0.25 is associated with an increase of at least 8% in total and less severe (blue) hygiene violation scores for food establishments in Seattle. We find mixed support for the increase in more severe (red) violations. A decline in employment with an increase in minimum wage could be driving the increases in hygiene violations.     

Thinking critically about critical thinking: Assessing critical thinking of business students using multiple measures

Critical thinking is a skill that potential employers expect all graduates to possess. Hence, most business management programs consider critical thinking as an important student learning goal. Unfortunately, there is ambiguity about how to best assess critical thinking, both as a skill and a learning outcome. The authors empirically demonstrate how they measure the critical thinking ability of their students in different settings, and how their critical thinking ability improves as they progress through the business program.     

Regional determinants of life insurance consumption: evidence from selected Asian economies

The life insurance industry in developing Asian economies is under‐developed compared with global standards. The low market penetration is attributed to full or partial government ownership and entry restrictions on foreign insurers. Regulatory changes and adoption of liberal policies have aided the growth of the life insurance industry in the past decade. At the same time, economic and social factors were expected to promote insurance awareness and consumption. In this context, the paper analyses the factors explaining life insurance demand in 12 Asian economies, including economies from the South Asian Association for Regional Cooperation and Association of Southeast Asian Nations regions, as well as China. The results suggest that income, financial depth, inflation, the real interest rate, and the youth dependency ratio are significant determinants of life insurance consumption. Foreign ownership and improved regulations may foster growth. But urbanisation and the literacy rate are among the few determinants found not to have the impact observed in previous studies. The research highlights the limitations of studies using macrodata and contributes to understanding of the growing insurance industry in the region.     

Correlations in emerging market bonds: The role of local and global factors

This paper empirically assesses co-movements in emerging market bond returns and disentangles the roles of external and domestic factors during episodes of heightened market volatility. The conceptual framework, set in the context of asset allocation, allows us to describe the channels through which shocks originating in a particular emerging or mature market are transmitted across countries and markets. We show that a simple measure of cross-country correlations, when presented together with the more commonly used average correlation coefficient, can be more informative during episodes of heightened market volatility. Data for the period 1997–2008 are analysed for evidence of true contagion and common external shocks.     

Do quality perceptions of health and social services vary for different ethnic groups? An empirical investigation

The United States is now more ethnically diverse than any other time in its history. In 2000, minority ethnic groups comprised 26% of the US population; by 2010, they comprise 35%, and in 2080 they will form the majority of American citizens. And among these ethnic groups, African Americans (12.4%), Hispanics (15.4%) and Asians (4.4%) were the most predominant in 2000. The growth of this segment of the population is not only in terms of numbers but also in terms of economic development. Minority groups are showing marked improvement in income and education levels leading to greater purchasing power. As a result, for‐profit companies are increasingly targeting minority populations with products and promotions specifically designed for specific minority groups. Even non profit organizations such as educational programs, social service and healthcare agencies are striving to design specific services and culturally competent outreach models in order to serve this increasingly diverse marketplace. But despite the strides made by non profit agencies, several studies note the tremendous disparities between the ethnic and racial groups in the seeking and the receipt of health‐care and social services. Additionally, there is limited empirical information about the perceptions of minority consumers. In order to effectively serve minority groups, it is essential to understand their experiences with the non profit service industry and to assess their ongoing concerns. In this study, we focus on two critical components of the non profit world – healthcare and social services. We conducted a survey to compare and contrast the social service and health‐care quality perceptions of three ethnic groups: Caucasians, African‐Americans and Hispanics. Our study, undertaken in collaboration with community health centers, reveals distinct differences in perceptions between the three ethnic groups. Based on our findings, we outline a set of implementable strategies for social service and community health organizations. Copyright © 2010 John Wiley & Sons, Ltd.     

Do regional economies converge?

Current interest in the new economic growth theory, linked with the development of new, innovative methods of measurement, has resurrected interest in spatial economic convergence. The primary objective of this paper is to examine the extent that regional economies seem to be converging or diverging. It explores the expanding theoretical literature in the field and examines the growing body of empirical evidence that has emerged in recent years not only in the U.S. but also internationally. The paper is retrospective but also embraces new findings relating to the United Kingdom and the U.S., putting particular emphasis on long- and short-term indicators of economic convergence.     

The emergence of Third World multinationals: Indian joint ventures overseas

The more industrialized LDCs are emerging increasingly as exporters of capital (or of technology in several forms). This paper draws on the recent experience of Indian MNCs to reexamine the factors which give rise to Third World multinationals. The author summarizes the current state of research in the analysis of LDCs MNCs, drawing upon specific MNC literature and other related literature on trade and technology. He deals with the evidence on Indian capital exports, placing it in the broader context of technology exports, discussing some examples of interest and drawing comparisons with foreign investment by some other LDCs. He assesses the Indian experience, using the distinctions drawn by Dunning's ‘eclectic’ theory but concentrating on the processes of technical change that underline the growth of its MNCs. The final section draws some tentative conclusions.     

Pareto optimal improvements for sunspots: The golden rule as a target for stabilization

Summary The stationary sunspot equilibria of a simple one good OLG economy are considered. These equilibria are known to be suboptimal. We show that, for any such equilibrium allocation, there always exists a Pareto optimal improvement which has the additional property of reaching the Golden Rule in finite time, i.e., the monetary steady state acts as a target. We also show that, in general, periodic allocations cannot be used as targets. The result is interpreted as a welfare theoretical justification for stabilization policy.This paper is based on my dissertation at SUNY Stony Brook. I would like to thank my supervisor, T. J. Muench, for his advice and encouragement. O. Galor's comments on a previous draft, and discussions with M. Kurz, J. Peck, H. M. Polemarchakis, B. Smith, and I. Zilcha, are gratefully acknowledged. Comments from F. Marhuenda, two referees and, especially, the Co-Editor, M. Woodford, did much to improve the exposition. Thanks are due to the Lady Davis Foundation for supporting my stay at the Hebrew University, and the IVIE and DGICYT PB92-0342 at Alicante, where successive drafts were prepared.