The General NFP Hospital Model

Throughout the past 30 years, there has been a lot of controversy surrounding the proliferation of new forms of health care delivery organizations that challenge and compete with general NFP community hospitals. Traditionally, the health care system in the United States has been dominated by general NFP (NFP) voluntary hospitals. With the number of for‐profit general hospitals, physician‐owned specialty hospitals, and ambulatory surgical centers increasing, a question arises: “Why is the general NFP community hospital the dominant model?” In order to address this question, this paper reexamines the history of the hospital industry. By understanding how the “general NFP hospital” model emerged and dominated, we attempt to explain the current dominance of general NFP hospitals in the ever changing hospital industry in the United States.     

Is attack the best form of defence? A competing risks analysis of acquisition activity in the UK

The primary purpose of this paper is to investigate whethercompanies can use acquisition as a strategy to reduce theirlikelihood of take-over. The determinants of making an acquisitionand being taken over are modelled for the first time withina competing risks framework using two large samples of UK manufacturingcompanies which together cover most of the post-World War IIperiod up to 1990. Our results indicate that, ceteris paribus,companies which make acquisitions can significantly reduce theirconditional probability of being taken over by around one-third,largely through the impact that acquisition has on corporatesize. In this sense, attack, through acquisition, is the bestform of defence against take-over.     

Corridor or blind alley? The A1M Herts corridor consortium

Local authority intervention in the local economy has proliferated in recent years and is not, as much work suggests, confined to large Labour controlled authorities coping with inner city problems and/or declining heavy industry; a wide variety of economic development initiatives are being executed by councils across the political spectrum. This paper examines the notion of growth coalitions and attempts to shed some light on these aspects of neglected research and reasons for local authority intervention, exemplified by the A1M Herts Corridor Campaign, an economic development initiative to attract inward investment to an affluent county.     

Clauses restrictives et modifications comptables: une étude canadienne*

Résumé. Cette étude porte sur les décisions prises par les sociétés canadiennes en matière de modifications comptables. L'information tirée de l'analyse des états financiers indique qu'il existe une relation entre les clauses restrictives des contrats d'emprunt et les décisions en matière de modifications comptables. L'hypothèse de la “visibilité” politique n'a pu être confirmée, contrairement à celle de l'effet de la réglementation.     

WAS THERE A GUARANTEE EFFECT FOR THE OTTOMAN LOANS IN THE NINETEENTH CENTURY?

This study analyses the effect of formal guarantees of the British government on the performance of Turkish bonds issued in the second half of the nineteenth century. We compare the yields and prices of 11 bonds issued by the Ottoman government with different guarantees attached to each bond. Our findings indicate that the formal guarantee of the British government was significant in determining the prices and yields of Ottoman bonds. Even though the British guarantee had no effect on Ottoman institutions, practices, and fiscal fundamentals, the yields on the guaranteed loan did not move together with other Ottoman loans.     

Wage Dynamics and Racial and Ethnic Occupational Segregation Among Less-Educated Men in Metropolitan Labor Markets

We assess whether occupational segregation in metropolitan labor markets is associated with the wages of, and contributes to racial/ethnic wage disparities among, less-educated men. To measure occupational segregation in metropolitan low wage markets, we create a segregation index measuring segregation between white, black, and Latino male high school-only educated workers and high school dropouts in 95 metropolitan labor markets utilizing a unique dataset of the structural characteristics of the ninety-five largest US metropolitan labor markets. We use regression, fixed effects, and generalized least squares estimation techniques to test whether this index is associated with wages and racial wage inequality among these men. The analyses reveal that in metropolitan labor markets characterized by more racial and ethnic segmentation in the low wage market, wages are lower among black and Latino men in particular, and racial-ethnic wage disparities among similarly less-educated white, black, and Latino men are higher.     

Is Racial Exclusion Gendered? The Role of Residential Segregation in the Employment Status of Black Women and Men in the US

This paper explores one angle of the race/gender/class intersection by examining the effect of residential segregation on black women and men's employment status in the US. Do the exclusionary mechanisms embedded in racially-based residential segregation affect black women and men's economic outcomes similarly, or are their employment outcomes differentiated by their different gender statuses? This paper lays out a theoretical framework for understanding the role residential segregation may play in shaping black men and women's labor market outcomes, outlining key mechanisms that link residential segregation to labor market inequality, highlighting the ways in which many of these mechanisms are gendered as well as racialized. This paper also offers an analytic design to test the hypotheses developed in this exploration.     

Unemployment persistence

We estimate dynamic panel data models of unemployment incidencefor men using the British Household Panel Survey. Econometricissues concerning unobserved individual heterogeneity, genuinestate dependence, and the initial conditions problems are addressedin detail. We find strong evidence of state dependence consistentwith the scarring theory of unemployment - an individual's previousunemployment experience has implications for his future labourmarket experience. This suggests that policies reducing shortrun employment incidence will have longer-run effects by reducingthe equilibrium or natural rate of unemployment.     

Business Cycle Correspondence in the European Union

This paper examines whether there exists a close correspondence in the business cycles of the EU economies. We focus on the timing and magnitude of business cycles and propose criteria for defining close correspondence. We suggest that any correspondence that does exist is confined to the EU core and that, contrary to some of the existing literature, there exists a clear core-periphery distinction. This makes us less optimistic about the prospects for EMU if it is not accompanied by institutional arrangements that take into account the differences between EU economies.