Compositional data analysis and zeros in micro data

The application of compositional data analysis methods in economics has some attraction. The methodology relies upon the use of 'log-ratios' in the statistical analysis. Such an approach is not possible when the data to be analysed include observations where the observed budget share is zero. We, therefore, consider and extend the methods of compositional data analysis in the situation where the data to be analysed include observations where the observed budget share is zero. The modified compositional data methods are discussed both in statistical terms and through potential economic interpretations of the method. Further, the modified methodology is applied to the 1988-89 Australian Household Expenditure Survey yielding estimates for a system of Engel curves.     

Green marketing strategies: an examination of stakeholders and the opportunities they present

As green marketing strategies become increasingly more important to firms adhering to a triple-bottom line performance evaluation, the present research seeks to better understand the role of “green” as a marketing strategy. Through an integration of the marketing, management, and operations literatures, an investigative framework is generated that identifies the various stakeholders potentially impacted through the environmentally friendly efforts of a firm. Specifically, the inter-connected nature of the core business disciplines of marketing, management (both strategy and human resources), and operations are examined as controllable functions within an organization from which strategies can be enacted to affect a firm’s stakeholders. The prior research in these areas is examined to identify potential research opportunities in marketing while also offering a series of representative research questions that can help guide future research in marketing.     

Gas Utility Prices in a Restructured Industry

The natural gas industry has witnessed significant policy changes since 1978. The Federal Energy Regulatory Commission has undertaken a number of policy initiatives designed to promote competition in the natural gas industry. These initiatives have affected both natural gas pipeline and local gas distribution companies. This study provides an empirical examination of the impact of restructuring on local gas distribution utilities' residential, commercial, and industrial prices.     

Evaluating cost center productivity

The monthly and yearly productivity summaries were developed and applied to a computer spreadsheet to aid the nurse manager in better understanding and communicating budget issues for diverse ambulatory care departments. A computerized spreadsheet using a commercially available personal computer program, such as Lotus, Quattro Pro, or Excel, can be used to more quickly and accurately track and summarize monthly budget reports. The data can be entered into the spreadsheet either manually or imported by query from the financial mainframe system. Contact your agency's finance or information department for information on how to accomplish this. Periodically acuity and resources should be measured and compared with quality monitors to maintain standards. For the past 10 years, our facility has successfully used this tool to make more informed decisions by identifying trouble spots early, and taking corrective action to avoid crisis management.     

CONCEPTS OF FAIRNESS IN THE GLOBAL TRADING SYSTEM

Abstract.  We first discuss why fairness is a condition of the agreements among governments that form the global trading system. We then suggest that fairness can best be considered within the framework of two concepts: equality of opportunity and distributive equity. We thereafter discuss what these mean as applied to market access and its supporting rules as well as to dispute settlement and trade remedy measures. Finally, we make some comments about fairness in the Doha Development Round.     

Analyzing a panel of seasonal time series: Does seasonality in industrial production converge across Europe?

In this paper we consider deterministic seasonal variation in quarterly industrial production for several European countries, and we address the question whether this variation has become more similar across countries over time. Due to economic and institutional factors, one may expect convergence across business cycles. When these have similar characteristics as seasonal cycles, one may perhaps also find convergence in seasonality. To this aim, we propose a method that is based on treating the set of production series as a panel. By testing for the relevant parameter restrictions for moving window samples, we examine the hypothesis of convergence in deterministic seasonality while allowing for seasonal unit roots. Our main empirical finding is that there is no evidence for convergence in seasonality.     

The establishment-size wage premium: evidence from European countries

This study examines the magnitude and determinants of the establishment-size wage premium in five European countries using a unique harmonised matched employer–employee data set (the 1995 European Structure of Earnings Survey). This data set enables to test the validity of various traditional explanations of the size wage gap (i.e. the labour quality hypothesis, the theory of compensating wage differentials, the role of monitoring and institutions) and of more recent hypotheses (i.e. size differences in job stability and in the concentration of skilled workers). We find some support for traditional explanations, but there remains a significant wage premium for workers employed in large establishments. Further results indicate that the magnitude of this premium fluctuates substantially across countries and appears to be negatively correlated with the degree of corporatism.     

World Oil Depletion Models: Price effects compared with strategic or technological interventions

World oil depletion, including natural gas liquids, was modelled in the past by many authors. Recently, Guseo and Dalla Valle have introduced and Guidolin has applied a new approach following perturbed life-cycle diffusion models. Here we examine joint effects of economic and strategic or technological interventions using a Generalized Bass Model (GBM). Statistical analysis takes into account three different hierarchical levels: natural diffusion, long memory interventions and stochastic components. The main results confirm the statistical significance of historical 1970s shocks and highlight a strong long memory effect due to an increase in oil production after World War II. The estimated peak-date, 2007, and the 90% depletion time, 2019, are determined under an equilibrium intervention hypothesis.