Implications of Improved Information on Market Performance

The retail food market in Edmonton, Alberta represents an unusual market to study. The basic problem inherent in this metropolitan market area of 500,000 people, is the dominance of a single retail food chain whose food sales represent up to 65 percent of total food sales. Conventional economic theory would normally lead to the conclusion that market performance would be improved by a direct attack on the structure of the market which in turn would involve the absolution of a highly successful retail operation. However, the application of monopoly anti-trust laws was certainly not an alternative available to the research team, even if it was considered to be a feasible solution to the problem. Therefore an attempt was made by the authors to observe the impact of improved consumer market information on corporate performance. The following article documents the research and leads towards a time honored conclusion that additional market information would improve consumer welfare in a meaningful manner.     

The problems of supplying water to third world cities: Bulawayo's water crisis

The current drought in central and southern Africa has focused attention on issues relating to the provision and supply of potable water. In the case of Bulawayo, Zimbabwe's second city, there is the very real prospect that water supplies may be exhausted before the onset of the next rainy season. This paper explores the background to this problem and shows how poor planning, financial constraints, and political intransigence have failed to keep pace with a policy aimed at the provision of water to the inhabitants in this expanding urban environment Alternative sources of supply. in particular a pipeline to the Zambezi River, are also investigated.     

The impact of demand management policies on black vs. white employment

This article uses vector autoregression analysis to examine the relative impacts on black and white employment growth of monetary and fiscal actions. It was found that the employment responses to anticipated policy actions, while significant, were generally short-lived, with the exception of the effects of anticipated money growth on white employment. The influences of unanticipated policy changes are of a longer duration. The predominant finding in which black employment growth responded differently from white employment growth was in response to a monetary shock. The black employment response was sharply negative while the white employment response was a gradual increase over nine quarters. The results indicate that this difference occurred only during the 1980s and not in the 1970s and suggests that the effects of bank failures and credit rationing during this period may have significantly hurt minority employment opportunities.