Non-Linearities in Electricity Demand and Temperature: Parametric Versus Non-Parametric Methods

This paper investigates the relationship between outside air temperature and the residential demand for space heating energy. These non-linearities are investigated empirically using high frequency panel data for a sample of UK households, and both parametric and non-parametric methods for identifying non-linearities are examined. The econometric evidence finds support for important non-linearities across the range of observed temperatures and points to limitations in the use of parametric functional forms.     

Forward implications of a simple stochastic asset market model

The behavior of forward rates in a simple stochastic asset market model is investigated theoretically; empirical estimates from the foreign exchanges show the model to be of relevance.     

Job quality and the economics of New Labour: a critical appraisal using subjective survey data

This paper assesses the record on job quality during the earlyterm of office of the New Labour government by interpreting,from a political economy perspective, changes in a variety ofsubjective measures of job quality taken from several differentdata sources. We find some improvements in job quality overthe period 1998–2004; however we argue that these improvementshave arisen not because of New Labour's policies towards theworkplace but because of low and falling rates of unemployment.Despite recent improvements, a large number of workers in Britainremain in low quality jobs and, without a radical change ofpolicy direction, sustained and substantial progress in thequality of work will remain elusive.     

Book reviews

New Technology and Industrial Relations R. Hyman & W. Streeck Oxford, Basil Blackwell, 1988.

Strategic Planning: Development and Implementation. Bonita H. Melcher & Harold Kerzner Blue Ridge Summit, PA, TAB Books, 1988, 404 pp., £23.65.

Science and Corporate Strategy: Du Pont R & D, 1902-1980 D.A. Hounshell & J.K. Smith New York, Cambridged University Press, 1988.

Sharpbenders: The Secrets of Unleashing Corporate Potential Pete H. Grinyer, David G. Mayes & Peter McKiernan Oxford, Basil Blackwell, 1988, 287 pp., £25.00.

Small and Medium Size Enterprises and Regional Development Maria Giaoutzi, Peter Nijkamp & David J. Storey (Eds.) London, Routledge 1988, 314 pp.     

Exporting and Productivity in the USA

Exporting is often touted as a way to increase economic growth.This paper examines the interaction between exporting and productivitygrowth in US manufacturing. While exporting plants have substantiallyhigher productivity levels, there is no evidence that exportingincreases plant productivity growth rates. The higher productivityof exporters largely predates their entry into exporting. However,within the same industry, exporters do grow faster than non-exportersin terms of both shipments and employment. Exporting is associatedwith the reallocation of resources from less efficient to moreefficient plants. In the aggregate, these reallocation effectsare quite large, making up over 40 per cent of total factorproductivity growth in the manufacturing sector. Half of thisreallocation to more productive plants occurs within industriesand the direction of the reallocation is towards exporting plants.