Optimal policy rules and regime switching in disequilibrium models

This paper emphasizes the need to search for globally optimal policy levels (for public production, say) in fix-price disequilibrium analysis. Regime-specific rules are inadequate. They ignore the fact that moving a policy towards its optimal level may move the economy from its initial disequilibrium regime to a different regime where the rule no longer applies.     

Of strategies,deliberate and emergent

Deliberate and emergent strategies may be conceived as two ends of a continuum along which real-world strategies lie. This paper seeks to develop this notion, and some basic issues related to strategic choice, by elaborating along this continuum various types of strategies uncovered in research. These include strategies labelled planned, entrepreneurial, ideological, umbrella, process, unconnected, consensus and imposed.     

International capital mobility in a specific factor model

Conclusion This model provides a useful starting point for the study of international capital mobility in the context of a small, open economy. All causes of capital flows are readily uncovered. Factor substitution plays a limited role, leading to straightforward properties. Factor price equalization and reciprocity relations are found. Future research could investigate positive, but less than infinite, capital supply elasticity, due perhaps to a risk premium.     

Regulatory science-Towards a sociological framework

The close relationship between scientific expertise and regulatory policy in certain controversial and public areas has prompted commentators to suggest the concept of ‘regulatory science’. However, definition is generally constrained either to the concerns of regulatory science or to its context. This paper proposes an approach to regulatory science which is both empirically-based and allows a more theoretical treatment of the new conditions of scientific and regulatory activity. A particular case-study of the British agrochemicals sector is presented in terms of a five-way analytical framework for regulatory science. The paper concludes by considering the wider relevance of regulatory science for future sociological and policy research.     

Tourist expenditures in Guangzhou, PR China

Tourism took on a new and crucial role in regional development and modernization in PR China with the introduction of the ‘Open Door Policy’ in late 1978. For the first time, the tourist expenditure patterns in the ‘Southern Gateway to China’, Guangzhou, are presented. Per capita tourist expenditure of Hong Kong and Macao Chinese is estimated to be much lower than that of a foreign tourist visiting the region, but the gross contribution is still significant to Guangzhou's tourist industry. Also previous per capita expenditure estimates of Hong Kong residents visiting PR China are suggested to have been overstated by 130% to 300%.     

Immigration,international capital flows,and long run income distribution in Canada

Conclusion This study derives long-run income distributional impacts of immigration and capital flows in a general equilibrium model of Canada. While each factor is its own enemy, results indicate that capital and skilled professional labor are enemies as well. Both of these productive inputs are friends of other labor groups, which are common enemies. Factor friendship patterns are useful in evaluating income distributional impacts of a variety of policies designed to influence the international flow of productive labor and capital.     

Using multiple choice test items to improve classroom testing of professional accounting students

The paper develops support for multiple choice testing as an alternative to the traditional “problem” or essay test used for evaluation of academic achievement in accounting courses. Basic measurement concepts are discussed and defined. The relationships between test reliability and validity are explained. The reader is encouraged to develop objective test items for use in the classroom.