The Environmental Outcome of Emissions-intensive Economic Growth: A Critical Look at Official Growth Projections for Sweden up to the Year 2000

Implications for carbon dioxide, sulphur dioxide and nitrogen oxides emissions from the Swedish government's medium-term economic projections are assessed, considering Sweden's environmental goals. Data from the first environmental accounting matrix of Sweden are exploited within the framework of the interindustry model to give emission multipliers for various components of aggregate demand. In view of these emission multipliers, it is evident that the outlined macro-economic development does not conform with Sweden's environmental goals. The oil price and the structural changes assumed in the economic projections stress still further the need for strong environmental policy measures to attain the emission goals. The allocation of total expenditure is shown here to be a critical factor for bringing down the emissions to accepted levels.     

Executive compensation: a calibration approach

Summary. We use a version of the Grossman and Hart principal-agent model with 10 actions and 10 states to produce quantitative predictions for executive compensation. Performance incentives derived from the model are compared with the performance incentives of 350 firms chosen from a survey by Michael Jensen and Kevin Murphy. The results suggest both that the model does a reasonable job of explaining the data and that actual incentives are close to the optimal incentives predicted by theory. Received: August 12, 1997; revised version: October 27, 1997     

The school as a social system: Indicators for change

In systems analysis, the school may be viewed as a functionally differentiated subsystem of the broader social system in which it is embedded. To maintain a viable relationship with that social system, the school is subject to continual changes to meet the shifting social, economic, political, and technological forces in its environment. However, the more successful the school organization is in assessing accurately changing environmental forces, and in making appropriate adjustments to those forces, the more successful will it be in resisting temporary pressures and transitory movements and in controlling its own directions.

A major research problem is to identify those organizational properties that enable the school to assess accurately new demands and to adjust appropriately to those demands. Theoretically, those properties might be expected to include: (1) operationalized statements of instrumental goals; (2) a work structure that involves interdependence in task performance; (3) participation in decision making; (4) an incentive system that utilizes performance criteria rather than expressive relationships; (5) personnel practices that encourage a cosmopolitan orientation; and (6) institutionalized provisions for change advocacy.

The specification of the relationships among these properties, or variables, and the determination of means for assessing them quantitatively, are tasks that remain to be accomplished.     

A Cost Indirect Evaluation of Productivity Change in UK Universities

The study provides an empirical analysis of productivity change in publicly-funded UK universities, against a background of government policy specifically designed to enhance the productive efficiency of universities in the provision of teaching and research. The nonparametric analysis employs a cost indirect approach to measuring productivity change, taking explicit account of the quality of research output and decomposing productivity change into technical change and efficiency change. The latter is also decomposed into changes in pure technical efficiency, scale efficiency and output congestion. Changes in size efficiency are also computed. On average, productivity declined by 4% over 1989–92, mainly as a result of regressive technical change. Evidence of biased technological change was found, with the frontier shifting out in favour of the teaching outputs and in relative to the research output.