Women's relative wage rate in The Netherlands, 1950–1983: A test of alternative discrimination theories

Summary This article presents the results of an inquiry into the relationship that is to be expected on theoretical grounds between women's wage rate compared to men's on the one hand and some macroeconomic variables on the other. Becker's discrimination theory is confronted with alternative theories. On the base of data for the Netherlands the authors investigate which theory is most suited to explain the development of women's relative wage rate for the period 1950–1983. They conclude that the results of the empirical analysis predominantly support Becker's theory.The authors wish to thank Mr. R. Haagsma and Professor C.K.F. Nieuwenburg for their comments on an earlier draft of this article. Furthermore, they are grateful to Miss M.J.R. Key for computational assistance.     

生产研究的大趋势：管理与技术紧密结合

在进入信息时代和市场需求呈现多样化的今天，工业生产和生产研究依然是创造物质财富和市场需求最重要的基础。信息时代和需求多样化给生产研究领域带来了诸多全新研究课题。下一个世纪生产研究的大趋势将是管理和技术并驾齐驱，二者紧密结合。制约因素管理能够充分利用管理人员的智慧，靠抓住关键因素进行系统整体管理，不断在新的层次上加强管理和技术的密切结合，事半功倍地提高企业经济效益     

An Analysis of State-Owned Banks’Behavior in NPL Disposition

I. NPL Asset Settlement in China’s State-Owned Banks Non-performing loans(NPLs)represent the most serious problem hindering China’sbankingsystem, especially the fourstate-owned banks (SOBs).According to statisticsfrom China’sBanking Regulatory Commission (CBRC), the banking system has accumulated NPLs tothevalueof3,158 billion RMB,whilethefourSOBsaccountedfor51 percentofthattotalbytheend of 2003 (seeTable 1). While the banking sector disposeslessthan 300 billion NPLevery year…     

Predicting the sample mean by extreme order statistics

Summary This paper considers the prediction of the sample mean by extreme order statistics when the population distribution is known. The predictor and its mean square error are found. The problem is studied in details for the normal model.     

Recent maritime research projects on the Lower Loire area

This paper deals with the problems of access to an estuary port, the security of navigation and services such as towage provided for shipping. The port triptych is also considered — the port itself, its foreland and hinterland — showing to what extent the port can be seen as a fundamental feature of the regional economy.     

Fixed price equilibria in an overlapping generations model with investment

We study fixed price temporary equilibria (with rationing) and sequences of temporary equilibria in a three commodities (goods, labor, bonds) overlapping generations model with endogenous investment. Young consumers, living two periods, work, consume, and buy bonds for financing next period's consumption. New firms, existing for two periods, make a production plan for the next period, taking into account expected rationing, assumed similar to present rationing. The plan determines the amount of goods to buy as capital, financed by bonds. Old firms produce, using labor and the previously bought capital. Different regimes exist and expectations can be self-fulfilling and self-destroying.We are grateful to the referees for helpful comments.     

A game theoretical approach to the international debt overhang

We consider an international financial problem called debt overhang, by which we mean a situation where a sovereign country has borrowed money from foreign banks and has been unable to fulfill the scheduled repayments for some period. The problem is formulated as a noncooperative game withn lender banks as players where each decides either to sell its loan exposure to the debtor country at the present price of debt on the secondary market, or to wait and keep its exposure. This game has many pure and mixed strategy Nash equilibria. We show, however, that in any Nash equilibrium, the resulting secondary market price remains almost the same as the present price for a large number of banks. We also obtain the comparative statics result that in a mixed strategy equilibrium, a bank with a smaller loan exposure has a greater tendency to sell than one with a larger loan exposure. We discuss the implications of these results for the functioning of the secondary market and the resolution of debt overhang.We thank J. Crémer, H. Haller, S. Mendes, and the referees of this Journal for helpful comments on earlier drafts.     

Fiscal policy independence in a European Monetary Union

Do plans for a monetary union in Europe call for limits on the freedom of the country members of the union to use fiscal policy? In order to provide a tentative answer, we simulate the IMF model MULTIMOD, given various shocks, in the case of a European Monetary Union consisting only of France and Germany. The results clearly indicate the possible value of allowing unfettered use of fiscal policy in both countries. The reasons lie partly in differences in the initial position of the two, partly in differences in their preferences. We also examine the change in the policy significance of the current account in the monetary union. Current account imbalances clearly cease to have the same significance in a monetary union; but they do not therefore become irrelevant.