Regional rigidities in the process of economic structural development

This paper outlines a framework for a vintage type analysis of structural change in production systems. By focusing on the existing industrial establishments in a region, rigidities are described with regard to (i) production techniques and input requirements, (ii) the semi-fixed location of the labour force and its specific set of production skills, (iii) the existing patterns of intersectoral deliveries. A scenario technique, utilizing programming models, is suggested as a method to study the effects on structural change of such rigidities.     

Financial institutions and the ownership and control of British Industry

This paper shows the growth in the ownership of British equity capital by financial institutions and examines the “control” implications of this development. Various aspects of the ownership versus control debate are highlighted, and data on the control potential of financial institutions are presented. The findings suggest that fund managers had pursued policies of extreme portfolio diversification, using their growing funds to acquire more and more small shareholdings in a greater number of companies rather than concentrating their holdings in a few companies.     

Scharfe untere und obere Schranken für die Wahrscheinlichkeit der Realisation vonk untern Ereignissen

Summary LetA ₁,...,A _n be events in a probability space (,A,W). We denote byL _k the event, that at leastk events among then eventsA ₁,...A _n occur, and byK _k the event, that exactlyk events occur. If only the inequalities _i W(A _i ) _i ,i=1,...,n, are known, we calculate sharp lower and upper bounds forW(L _k ) andW(K _k ). These bounds only depend onn, k and _i , _i ,i=1,...,n. They are relevant, when treating combined tests or confidence procedures.     

Some remarks on the construction of independent identically distributed random variables,Markov chains and martingales

In this note, we make some remarks on the construction of sequences of independent identically distributed random variables and of Markov chains concretely on a probability space (Ω,A,P). We also show that there are non non-trivial martingales of exponential type.     

Employment predictions in social impact assessment: An analysis of some unexplored variables

Social scientists investigating the impacts of energy development are increasingly searching for predictive models of the employment benefits to locals. This issue is of extreme importance not only because of the benefits to locals but because of the issue of local benefits as well as the connection with population growth and boom town development. Unfortunately, some of the recent investigations and predictive models are of little utility as a result of certain analytical and methodological faults, including improper assumptions about local labor supply and local preferences. In addition to the assessment of previous investigations, a framework for predicting local employment impacts is suggested. This framework utilizes characteristics and preferences of the local population.     

Henry George and the Institution of Private Property in Land: A Property Rights Approach

Abstract . Conflicting statements concerning whether the implementation of Henry George's single tax proposal would destroy the institution of private property in land have appeared in the literatures of economics and other disciplines. A number of writers have implied that the taxation of Ricardian rent is equivalent to land nationalization. In the main, followers of George have denied that the single tax would abolish private property in land. Their claim is based on the fact that land titles would remain in private hands under the single tax. Since the whole question of private property is beset with ideological difficulties, a property rights approach is applied to this issue in an attempt to resolve the controversy. The conclusions are that the actual implementation of George's system would not destroy private property in land and that it is incorrect to equate the single tax with land nationalization.     

New public stock issues by seasoned and unseasoned firms: A comparative analysis in a turbulent environment—the case of israel

This study presents and examines new evidence on the relationship between financial structure and ownership in New and Veteran Public firms (sometimes known as unseasoned or seasoned firms, respectively). The major findings are: (1) the cost of capital and the cost of equity increased with financial leverage, but at a different magnitude in new and veteran public firms reflecting different risk conceptions; and (2) management and administration costs for new public firms are indicated to be higher than for veteran public firms. Reasons for and implications of these findings are subsequently discussed.