A study of the effects of repeated commercial launderings on the performance of 50/50 polyester/cotton momie cloth

Samples of brown 50% polyester/50% cotton momie cloth with a fluorocarbon finish were commercially laundered using a carbonate-built detergent in soft (0 ppm) water. The appearance of the laundered samples was assessed by subjective pilling ratings and instrumental colour determinations; the performance properties examined were tear and tensile strength, abrasion resistance and ability to release oil. The results showed that pilling was at its maximum after 20 launderings. The depth of colour decreased with increased number of cycles and, in most cases, was not accompanied by change of hue Tear and tensile strength were not affected by the laundering process. The fluorocarbon finish on the unlaundered control increased the weight loss due to Accelerator abrasion, thus that due to repeated launderings was significantly less. The finish protected the fibres from flex abrasion, increasing the number of cycles required to rupture the fabric and only the sample laundered 60 times had significantly greater resistance. The ability to release oil decreased with increased number of launderings. Oil remaining in the fabric was located in the interstices between yarns.     

Reconciling Bagehot and the Fed's Response to September 11

Bagehot (1873) states that to prevent bank panics a central bank should provide liquidity at a "very high rate of interest." In contrast, most of the theoretical literature on liquidity provision suggests that central banks should lend at an interest rate of zero. This is broadly consistent with the Federal Reserve's behavior in the days following September 11, 2001. This paper shows that both policies can be reconciled. With commodity money, as in Bagehot's time, liquidity is scarce and a high price allows banks to self-select. In contrast, the Fed has a virtually unlimited ability to temporarily expand the money supply so self-selection is unnecessary.     

An Individual‐Level Study of Contract Ratification Support

This study uses constructs developed from theoretical models of both unit‐level ratification studies and individual‐level studies of strike support to predict individual employee ratification voting behavior and contract satisfaction. Surveys were given to union members before and after ratification voting. The results suggest that constructs assessing economic factors, employment relations, union relations, and the importance of contract information from the union all influence ratification support. While the bargaining issues are important in explaining ratification support, factors beyond the bargaining issues, such as employer and union loyalty and providing information about the contract, are related to ratification support.     

Revisiting Real Wage Rigidity

In this paper, we provide empirical evidence that real wage rigidity is not a major cause of unemployment volatility. We argue that there is a disconnect between the theoretical and empirical literatures on this topic. While theoretical studies define real wage rigidity as the response of wages to changes in unemployment following productivity shocks, the empirical literature measures real wage rigidity as the estimated semi-elasticity of wages with respect to unemployment, averaged over all shocks. We show that averaging over shocks gives a biased measure of real wage rigidity, as the impact of other shocks confounds the response to productivity shocks. Our results indicate that the estimated semi-elasticity with respect to productivity shocks is twice as large as the estimated semi-elasticity averaged over all shocks. This implies that one cannot attribute unemployment volatility to real wage rigidity.