Aktuelle Probleme der österreichischen Finanzpolitik

Ohne ZusammenfassungDer erste Teil erschien bereits in Heft 1 von Jahrgang XX der Zeitschrift für Nationalökonomie, also vor etwa eineinhalb Jahren. Die Verzögerung im Erscheinen des Fortsetzungsteiles der Untersuchung erklärt sich aus einem fast einjährigen Amerikaaufenthalt des Verfassers und dessen stärkster Inanspruchnahme mit anderen Arbeiten.Der vorliegende zweite Teil ist äußerlich auf den Stand des Jahresendes 1961 gebracht; innerlich kann er ebenfalls seine frühere Entstehungszeit nicht verleugnen. Beide Teile — auch der erste, ergänzt um die Entwicklung der Periode 1960/61 (vor allem also die Finanzministerschaft Dr. Eduard Heilingsetzers) — werden in Kürze als Spezialpublikation im Wiener Springer-Verlag herauskommen.Es ist dem Verfasser abermals eine angenehme Pflicht, Herrn Dr. Herbert Zogelmann für seine wertvolle Mitarbeit auch an diesem Teil der Untersuchung ausdrücklich zu danken.     

A methodological note on diversity measurement

This research addresses the question, do categorical and continuous measures capture the same construct of diversity? Using analysis of variance, cluster analysis, and discriminant analysis, we investigated whether continuous measures (entropy and product count) differentiate between diversification categories, whether continuous measures converted to categories and subjectively assigned categories classified companies similarly, and whether continuous and categorical measures predicted similar diversity–performance relationships. We concluded that the techniques were associated but did not yield the same performance predictions. For researchers investigating diversity–performance relationships, choice of measurement technique will influence research results. Our research results suggest that attempts to combine categorical and continuous techniques as a way to overcome the limitations of both methods is not appropriate.     

Japan and the European community: An uneasy partnership

Bewildering advances of Japanese production into many fields of European industry are a cause of grave concern in the EC. Calls for protection are growing louder as a mixture of fear and impatience spreads throughout the Community. Wilhelm Haferkamp, EC Commissioner in charge of external trade relations, explains why trade war practices are no solution to the problem.     

A wicksellian indicator of monetary policy

This paper compares actual U.S. monetary policy with an ideal policy based upon Wicksell's theory of natural and market rates of interest. For the period 1952–1971, this comparison indicates that actual policies behaved in a distinctly pro-cyclical manner with the result that monetary policies amplified the magnitude of the business cycles. The explanation offered suggests that this stems from the central bank's attempt to stabilize the interest rate which is consistent with one of the paper's findings of a highly significant positive relationship between changes in the natural rate of interest and changes in the monetary base.