Economies of Scale and Utilization: An Analysis of the Multi-Plant Generation Costs of the Electricity Commission of New South Wales, 1970/71–1984/85*

We examine the average costs of electricity generated in NSW at the site level employing a new simultaneous-equations model approach Further, we argue that costs depend principally on unit size and capacity utilization We reinterpret capacity utilization as a compositional variable which is a continuous proxy for the (inverse of) the intensity of demand for electricity, thus partially addressing the multi-product nature of electricity. Low capacity utilization corresponds to intense demands and hence peaking output We find that costs per kWh, as conventionally measured, are highly sensitive to the degree of capacity utilization but less so to unit size (scale). The results emphasize the need for tine-related pricing     

An Engel Curve Analysis of Household Expenditure in New Zealand*

In this paper we estimate systems of Engel curves for expenditure on eight commodity groups by New Zealand households. Six model specifications are considered, and the preferred results are based on the Almost Ideal Demand System. The estimated expenditure elasticities and marginal budget shares are quite insensitive, at the sample mean, to the choice of functional form. The results are compared with those from other Australasian, British and American studies.     

Financial disclosure effects on labor contracts: A Nash analysis

Abstract. This study investigated the role of financial information disclosure on union-management preferences for labor contract outcomes. The effect of accounting information on negotiated outcome proximity to Nash equilibrium outcomes was also examined. Both the extent and credibility of financial information disclosure as well as dyadic and team negotiations were examined. Conjoint analysis was used to measure union and management preferences for contract attributes. Results indicated insignificant conjoint part worth differences on union and management contractual preferences under both accounting information and team negotiation treatments. Actual contractual outcomes were significantly correlated with Nash predictions, and information disclosure had a marginally significant effect on the proximity of actual to predicted outcomes. Résumé. Les auteurs étudient le rôle de la présentation d'informations financières dans les préférences du syndicat et de la direction en ce qui a trait au contrat de travail final. Ils s'intéressent également à l'incidence de l'information comptable lorsque les conventions négociées se rapprochent de l'équilibre de Nash. L'étendue et la crédibilité de l'information financière présentée ainsi que les négociations dyadiques et collectives sont aussi objet d'étude. Les auteurs ont recours à l'analyse conjointe pour mesurer les préférences du syndicat et de la direction à l'égard des attributs du contrat de travail. Les résultats indiquent des écarts non significatifs dans la valeur conjointe partielle associée par le syndicat et la direction aux attributs du contrat, par suite du traitement de l'information comptable ainsi que de la négociation collective. Le contrat final qui résulte présente une corrélation significative avec les prévisions de Nash, et la communication d'informations a une incidence marginale sur l'analogie entre les résultats réels et les résultats prévus.     

吴忠:财政为所当为

一个西部欠发达的地级市能够将多少财政收入用在民生上?"十一五"期间,吴忠市财政用于民生的支出共计180亿元,占同期财政一般预算支出的75%,最近两年甚至一度达到90%以上,笔者被深深触动了一下。这个比例确实不低!     

Explaining the Normality of Informal Employment in Ukraine: A Product of Exit or Exclusion?

This article evaluates critically the competing explanations for the persistence and growth of informal employment in contemporary societies. These interpret the normality of informality either through a structuralist lens as arising out of “exclusion” from state benefits and the circuits of the modern economy or through a neo‐liberal and/or post‐structuralist lens as driven by the voluntary “exit” of workers out of formal institutions and into this alternative realm. To evaluate critically the validity of these competing explanations, this article reports a 2005/6 survey of informal employment in post‐socialist Ukraine. Analyzing the results of 600 face‐to‐face interviews, the finding is that either/or explanations need to be transcended. Informal employment is neither universally driven by exclusion nor exit. Instead, some participate mostly due to exclusion, others mostly for exit rationales, and some for a combination of the two, with different mixtures across different populations and types of informal employment. The outcome is a call to move towards more context‐bound understandings of the pervasiveness of informality through greater appreciation of the heterogeneity of this sphere and how both exit and exclusion are variously entwined in different settings.