Estimating the Impact of Anti-dumping and Anti-cartel Actions Using Intervention Analysis

Intervention analysis is proposed as a method for estimating the effects of anti-dumping actions in the presence of a domestic cartel. Data requirements and modelling effort compare favourably with traditional structural model approaches. The method is applied to an anti-dumping action brought to the European Commission and in which the European producers of the product were fined after an anti-cartel action by the Commission covering an overlapping period. Interven tion analysis is applied to distinguish the effects of the anti-dumping action from those of changes in cartel behaviour     

Semiotische und verbandstheoretische Grundzüge einer elementaren Statistik

Zusammenfassung Die Statistik wird als ein formalisiertes Sprachsystem gedeutet und verschiedene Statistikalgorithmen werden über einenBooleschen Verband gebildet. Es werden nur nichtstochastische Probleme behandelt.

---

Summary Statistic is considered a formalized language system. Some statistical algorithms are interpreted in aBoolean lattice. Only nonstochastical problems are considered.

---

---

Der erste Teil dieser Abhandlung über eine attributive Statistik alsBoolescher Verband wurde im Heft Nr. 2 (1964) der Metrika als Festbeitrag zum 80. Geburtstag des Jubilars Hofrat Prof. Dr. Dr. h. c.Wilhelm Winkler ver?ffentlicht. Statistische Ma?verb?nde erscheinen über eine quasiadditive Bewertung eingeführt. Im vorliegenden zweiten Teil der Arbeit werden die Beziehungen der Statistik zurβ-Informationstheorie und einer speziellen Semiotik kurz er?rtert und die Algebraisierungs-beziehungsweise Geometrisierungsversuche betreffend die statistischen Forschungsmethoden weitergeführt.     

Competition,Strategy, Technology and People: The Challenges Facing PR

A recent survey of leading UK PR practitioners has identified a dynamic, swiftly evolving environment for the public relations industry. Heightened competition, wide-ranging new opportunities and threats stemming from the perceived need to internationalize, the desire for more influence in clients' business strategy formulation, training and recruitment dilemmas, ever-changing technology and an increasing requirement to evaluate the worth of PR are only some of the most pressing issues. This article reviews the survey's findings—revealing a complex and swiftly evolving marketplace—before drawing out some of the principal implications. There are interesting parallels with events in advertising.     

Evaluating wind-following and ecosystem services for hydroelectric dams in PJM

Hydropower can provide inexpensive, flexible fill-in power to compensate for intermittent renewable generation. Policies for hydropower dams maintain multiple services beyond electric generation, including environmental protection, flood control and recreation. We model the decision of a hydroelectric generator to shift some of its power production capacity away from the day-ahead energy market into a “wind-following” service to smooth the intermittent production of wind turbines. Offering such a service imposes both private and social opportunity costs. Since fluctuations in wind energy output are not perfectly correlated with day-ahead energy prices, a wind-following service will necessarily affect generator revenues. Seasonal wind patterns produce conflicts with the goal of managing rivers for “ecosystem services”—the maintenance or enhancement of downstream ecosystems. We illustrate our decision model using the Kerr Dam in PJM’s territory in North Carolina. We simulate the operation of Kerr Dam over a three-year period that features hydrologic variability from normal water years to extreme drought conditions. We use an optimization framework to estimate reservation prices for Kerr Dam offering wind-following services in the PJM market. Wind-following may be profitable for Kerr Dam at low capacity levels during some time periods if ecosystems services are neglected and if side payments, or reserves-type payments, are provided. Wind-following with ecosystem services yields revenue losses that typically cannot be recovered with reserves market payments. Water release patterns are inconsistent with ecosystem-services goals when Kerr Dam dedicates significant capacity to wind-following, particularly in drought years.     

Not Featherbedding,but Feathering the Nest: Human Resource Management and Investments in Information Technology

This study draws on employment relations and management theory, claiming that certain innovative employment practices and work structures pave the way for organizational innovation, namely investments in information technology (IT). It then finds support for the theory in a cross‐section of UK workplaces. The findings suggest that firms slow to adopt IT realize that their conventional employment model hinders their ability to make optimal use of new technologies. Therefore, the paper advances the literature beyond studies of unionization's impact on business investment to a broader set of issues on the employment relations features that make organizations ripe for innovation.     

Financial integration and the term structure of interest rates

This paper presents a model of the term structure for an open economy. A flexible VAR approach is used to model macroeconomic growth, inflation, short rate and the yield spread. Then the term structure is built given restrictions implied by the no-arbitrage condition. Contrary to previously proposed macrofinance models of the term structure, the model suggested here explicitly accounts for financial and real spillovers between economies. As documented in the paper, foreign macroeconomic factors contain a lot of information about the domestic term structure of yields. Put to data, the model explains the dynamics of yields very well. It provides better out-of-sample forecasting results than the closed economy models. Openness induces more variability in the estimated term premia of yields with shorter maturities.     

Live Broadcasting,Gate Revenue,and Football Club Performance: Some Evidence

This paper presents new evidence concerning the main argument of the English Premier League for collective arrangements in selling television broadcast rights. Matches that are broadcast live on television can be considered as a substitute for watching at the stadium. New panel-data show that broadcasting live has a small negative effect on gate revenue for the best performing clubs and a much larger effect for the worst performing clubs. However, the marginal cost is outweighed by the marginal revenue, concluding that restrictions on quantity stemming from collective arrangements are detrimental to the consumers, broadcasters, and clubs themselves.     

Negative equity and wages

We examine the relationship between housing equity and wage earnings using nine waves of the national American Housing Survey from 1985 to 2003. Employing a rich set of time and place controls, a synthetic mortgage instrumental variable strategy, and a first difference estimator we find that people underwater on their mortgage command a significantly lower wage than other homeowners. The finding survives a number of robustness checks for reverse causality and unobserved heterogeneity. We also explore other determinants of “house lock” including loss aversion, a low existing mortgage interest rate and property tax assessment caps, but do not find these factors mitigate the effect of negative equity on wages.