Technical Progress and Product Reliability under Competition and Monopoly

Technical progress lowers costs and prices but appears to have an ambiguous effect on product reliability. This paper presents a simple model which explains this observation. Copyright © 2013 John Wiley & Sons, Ltd.     

On (Not) Closing the Gaps: The Evolution of National and Regional Unemployment Rates by Race and Ethnicity

This paper conducts stationarity tests for levels and ratios of national and regional unemployment rates by race and ethnicity. Results indicate that both unemployment rates and ratios for the total population and for subgroups by race, ethnicity and region are stationary around changing means. The black/white unemployment ratio has increased on average and the Hispanic/white unemployment ratio has decreased on average. Results are compared across regions of the US.     

Marketing Metrics Use in a Transition Economy: The Case of Vietnam

ABSTRACT

This article explores the use of marketing metrics by a sample of Vietnamese firms, providing an example of the use of marketing metrics in a “transition” economy as it grows and becomes more market and marketing driven. The analysis reports usage frequency and then develops a set of “correlation chains” linking firm characteristics, metric use, and various indicators of performance. Vietnamese managers generally report that several types of metrics are used. Ownership structure and industry also impact which metrics are utilized. An initial assessment of chains relating metric use to firm performance indicates that the impact is complex and indirect.     

Federal Reserve Independence in the Aftermath of the Financial Crisis: Should We Be Worried?

The extraordinary circumstances of the past few years have led to extraordinary responses by the Federal Reserve and other central banks. These ventures into uncharted waters have heightened political scrutiny to the point of raising concern about future independence. In discussing independence of the Federal Reserve, it is important to separate its regulatory and supervisory functions from its monetary policy function. It is the latter in which the question of independence is most important. History indicates that independent monetary policy has been a powerful deterrent to inflation. This paper outlines the threats to Federal Reserve independence, particularly as it exists from the unconventional policies that it pursued to mitigate the financial crisis. Economists have an important role in making the case that monetary policy remains independent.     

A Protected Areas Ecotourism Competitive Cluster Approach to Catalyse Biodiversity Conservation and Economic Growth in Bulgaria

This paper focuses on how small ecotourism and related supply chain businesses in gateway communities can be linked to protected areas by organising them into competitive clusters focused on their comparative advantages and uniqueness. It examines pilot project work in Bulgaria in small communities near the Rila and Central Balkan National Park. It shows how Bulgaria might develop its ecotourism potential by replicating this approach. The Bulgarian experience holds potential for replication in other protected areas and gateway communities using collaborative tools based upon lessons learned from the model sites and from ecotourism cases around the world, including: (1) developing an inclusive stakeholder group; (2) fostering education within gateway communities near protected areas; (3) strengthening the legal and regulatory framework; (4) expanding small and medium size enterprises (SMEs) and entrepreneurship opportunities; (5) expanding destination management capacity at the community level; (6) linking protected area sites to less visited areas; (7) implementing environmental management and certification programmes; (8) expanding financing for protected areas; (9) using the Internet for linking and branding the network; and (10) developing indicator or monitoring systems.