Inference regarding multiple structural changes in linear models with endogenous regressors

This paper considers the linear model with endogenous regressors and multiple changes in the parameters at unknown times. It is shown that minimization of a Generalized Method of Moments criterion yields inconsistent estimators of the break fractions, but minimization of the Two Stage Least Squares (2SLS) criterion yields consistent estimators of these parameters. We develop a methodology for estimation and inference of the parameters of the model based on 2SLS. The analysis covers the cases where the reduced form is either stable or unstable. The methodology is illustrated via an application to the New Keynesian Phillips Curve for the US.     

To Screen or Not to Screen? Using the Internet for Selection Decisions

Organizations are increasingly relying on Internet searches and social networking websites to uncover detailed and private information about job applicants. Such Internet screening techniques have the potential to provide additional information beyond that found using traditional screening approaches. However, questions regarding the legality and appropriateness of this practice, as well as issues regarding the standardization, reliability, and validity of the information obtained, need to be addressed. The current work describes these issues associated with Internet screening and provides recommendations to help ensure this practice is used appropriately in organizations. Suggestions for future research on Internet screening are also discussed.     

Measuring Fair Employment Practices: The Search for a "Figure of Merit"

Quantitative measures of equal employment opportunity in the bureaucracy are of quite recent vintage, even though data have been collected on minority employment since the early 1960s. Such measures as have been developed are useful in the sense that they are simple and easy to comprehend. Concentrating as they do on integration alone, however, they do not capture a sufficiently wide variety of personnel practices to truly assess equal employment opportunity. This paper presents a new measure which retains the basic simplicity required of a figure of merit but expands the dimensions of former measures to include an index of the occupational distribution of minorities within an organization. The measure presented implies a policy goal of income parity for minority groups within the bureaucracy and assesses progress toward that goal. It is argued that a worthy figure of merit can promote cost-effective implementation of public policy with regard to fair employment within the civil service.     

The NIIT Academy: A unique 'university' in the making

NIIT is a highly successful for-profit education company with global reach, which grew by capitalising on the failings of the Indian state education system to provide employable graduates in computer education. Dr Mitra describes the company, then explores the changing forms of universities, the rôle of the private sector in these and the challenges of the future. He concludes by outlining how the 'NIIT Academy' is emerging as a possible model for universities for the next century.     

Audit Market Segmentation – The Impact of Mid-tier Firms on Competition

This analysis’ goal is to characterise the impact of mid-tier auditors on competition and average supplied audit quality. The major result of our analysis is the following: Auditors’ flexibilities with respect to clients’ complexity determine the offered audit quality levels and thus the average supplied audit quality. Defining a model-endogenous quality measure, we show that for some instances the mid-tier auditor improves average audit quality, but for other instances fails to do so. The result could be of special interest for standard setters, for example, the European Commission, which is currently revising EU audit regulation. Further, the analysis may serve as an instrument to analyse economic consequences of future changes of regulation.