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Job displacement and reemployment in North Carolina: The relative experience of the black worker

This article examines the unemployment experiences of workers in North Carolina involved in mass layoffs and plant closings, focusing on the differential impacts between black and white workers. The results of this research not only support earlier findings but also suggest that blacks are laid off in numbers disproportionate to their membership in the labor force. Several different explanations for this result are examined and attempts made to control for several of these factors, such as industry and occupational differences. However, even after controlling for such factors, evidence of differential treatment continues to persist. The authors wish to thank William Darity, Jr., for his helpful comments throughout the project and also to acknowledge the helpful suggestions of several anonymous referees.     

Co‐Movement Towards a Currency or Monetary Union? An Empirical Study for New Zealand

This paper analyses whether New Zealand would be ready to form a currency or monetary union with either Australia, the 11 EU countries that are members of the EMU, Japan, or the US, if the criteria that have been used by researchers for the EMU are applied. The analysis is an empirical study with data from the mid 1980s to 1998, using cointegration techniques to search for co-movement and convergence in key economic variables: interest rates, inflation rates, exchange rates, real GDP, and current-account/GDP ratios.     

ESTIMATES OF THE HIDDEN ECONOMY IN AUSTRIA ON THE BASIS OF OFFICIAL STATISTICS

By definition, the hidden economy eludes straight observation by means of official statistics. Nevertheless, attempts to quantify these phenomena usually make reference to official materials in various respects, e.g. as regards definition, or when evaluating the relative importance or some indirect reflections of such activities. In this context, official statistics may serve as a particularly useful reference when those sections of the economy are concerned which are hardly or not at all susceptible to hidden activities. Such sections can be identified in terms of industry and in terms of occupation.
In the present investigation such techniques have been used to a large extent and only official statistics have been drawn upon as a data source. Accordingly, the outcome matches closely with national accounts concepts and existing national classifications of various socio-economic statistics. The estimates refer to the hidden ("off the records") activities of the self-employed as well as to similar activities of employees, the unemployed etc. ("moonlighting"). Per se criminal activities have not been included, however. As regards the self-employed the estimates basically rely on income differentials observed between small scale entrepreneurs and their employees. As regards employees numbers employed of various preselected occupational categories and of some additional groups of non-employed have been processed successively, matching them e.g. with comparable data on time budgets and regional frequency.
The outcome largely confirms common experience or expectations as regards the fields where hidden activities assume significant relative importance whereas the overall size of the hidden economy turned out fairly small as compared with official GDP.     

Rezensionen

Ohne Zusammenfassung     

Multiple steady states,indeterminacy, and cycles in a basic model of endogenous growth

The goal of this paper is to demonstrate that a basic model of endogenous growth with learning by doing may produce a rich array of outcomes. Starting point of our analysis is the Romer (1986a) approach. In contrast to Romer, however, we assume that one unit of investment shows different effects concerning the building up of physical and human capital, so that these variables cannot be merged into one single variable. With this assumption, it can be shown that multiple steady states, indeterminacy of equilibria, and persistent cycles may result in our model.     

Intra-mediterranean trade relations in the 1980s

This paper deals with an important problem of trade policy confronted by the countries of the Mediterranean Basin: what should be their goals and strategy in the 80s for trading links with other neighbouring countries, regions or trading superpowers?     

Three methods for reducing EEC milk supplies

The EEC has for many years been labouring under a structural overproduction of milk which is reflected in ever-higher surplus stocks of butter and skimmed milk powder. These represent an increasingly heavy burden for the EEC budget, because they are being sold through ever-costlier subsidized campaigns. Such campaigns disrupt the markets for fresh butter and margarine and make no contribution to a structural solution of the problem.