The impact of demand management policies on black vs. white employment

This article uses vector autoregression analysis to examine the relative impacts on black and white employment growth of monetary and fiscal actions. It was found that the employment responses to anticipated policy actions, while significant, were generally short-lived, with the exception of the effects of anticipated money growth on white employment. The influences of unanticipated policy changes are of a longer duration. The predominant finding in which black employment growth responded differently from white employment growth was in response to a monetary shock. The black employment response was sharply negative while the white employment response was a gradual increase over nine quarters. The results indicate that this difference occurred only during the 1980s and not in the 1970s and suggests that the effects of bank failures and credit rationing during this period may have significantly hurt minority employment opportunities.     

Changes In Consumer Attitudes Toward Marketing,Consumerism and Government Regulation: 1971–1975

Trends in consumer attitudes toward business philosophy, product quality, advertising, consumer responsibilities, government regulation and price controls are examined. The findings of three national surveys indicate that the level of consumer discontent did not change substantially between 1971 and 1975. Despite expanding efforts to advance the interests of consumers, the basic criticisms and frustrations expressed by respondents in 1971 were echoed again in 1973 and 1975. However there were some notable trends in the kinds and magnitudes of consumer concerns over this period. The need to treat consumer dissatisfaction as a relative concept is emphasized, and it is suggested that comparisons of present levels of consumer unrest to a zero base would probably lead to exaggerated interpretations of current conditions.     

Problems in the creation of an optimal currency zone in the Commonwealth of Independent States

The paper evaluates the features of the Commonwealth of Independent States as a regional economic union of states on the territory of the former Soviet Union. It examines the most noticeable conceptual approaches to the definition of strategy, the directions of CIS development, and the monetary and credit mechanisms of interactions among member states, as well as the feasibility of CIS transformation into an efficient economic union of states.     

Food, nutrition, and substitution in the late nineteenth century

Economic historians hypothesize that households in the nineteenth century substituted away from carbohydrates and fiber and towards protein and fat as their incomes rose. Anthropometric historians assert that there was increased nutrient intake without any nutritional substitution. I test these hypotheses using the 1888 Cost of Living Survey. I fail to reject the hypothesis that the income elasticity of fiber is greater than or equal to the income elasticities of protein, fat, or sugar—contrary to the nutritional substitution posited by economic historians. A food modified Engel curve reveals that the shares of carbohydrates, fat, and sugar in the diet vary with household income, but the shares of protein and fiber do not. I do find, however, that the share of protein from animal sources increases with household income. I also find that the diets of late nineteenth century industrial workers were surprisingly balanced by modern standards.