The effect of fiber type on the handle of fabric for sportshirts

Three sportshirt fabrics made from cotton, cotton/nylon blend, and nylon respectively, were evaluated in terms of fabric handle by 40 female consumers. Few differences were found between the first two fabrics but 100% nylon fabric was less acceptable. Knowledge of fiber type present had a marked effect on handle judgments.     

The Maturity Structure of Corporate Debt

We provide an empirical examination of the determinants of corporate debt maturity. Our evidence offers strong support for the contracting-cost hypothesis. Firms that have few growth options, are large, or are regulated have more long-term debt in their capital structure. We find little evidence that firms use the maturity structure of their debt to signal information to the market. The evidence is consistent, however, with the hypothesis that firms with larger information asymmetries issue more short-term debt. We find no evidence that taxes affect debt maturity.     

Open Market Operations in Australia: A US Perspective*

This paper investigates open market operations in Australia and incorporates some key features of these operations into a simple rational expectations macroeconomic model Where relevant, comparisons with US operating procedures are made. The major finding is that the Reserve Bank of Australia like the Federal Reserve uses the overnight interest rate as its policy instrument However, specific features of the Australian money market imply that direct control of the interest rate will be a more efficient policy in Australia than in the United States.     

Encouraging Enterprise—The Belgian Experience

Nigel Lawson will meet with failure in adopting Sir Geoffrey Howe's plans for enterprise zones in Britain unless he learns from the mistakes of the Belgian E-Zones. Michael van Notten, who was instrumental in the implementation of the Belgian plan, outlines the political obstacles raised in the path of the E-Zones by empire-building bureaucrats.     

THE UK ECONOMY: ANALYSIS AND PROSPECTS

In this section of the Review, Oxford Economic Forecasting providesan analysis of the current economic climate in the UK and abroadas well as setting out the main features of its latest forecast.In Section II, the UK forecast up to 1988 is described. In SectionIII, following the theme of this issue, we analyse the roleof public investment in the UK. Footnotes ¹We are grateful to Vanessa Rossi for her helpful comments.