Reflections on the relative economic decline of the United Kingdom

This paper considers the apparent paradox that while wage levels in the UK are not high by international standards they form a conspicuously high proportion of value added. As a consequence there are constraints placed on the servicing and use of capital. These result in reduced innovation and growth from socio-political factors embracing both the wage-setting process and individual incentive.     

Labor-market adjustment in open economies: Evidence from US states

In this paper we analyze whether regional economic integration across US states conditions local labor-market adjustment. We examine the mechanisms through which states absorb changes in labor supplies and whether industry production techniques are similar across states. There are two main findings. Firstly, states absorb changes in employment primarily through changes in production techniques that are common across states and through changes in the output of traded goods, with the former mechanism playing the larger role. In contrast, state-specific changes in production techniques, which are one indication of state-specific changes in relative factor prices, account for relatively little factor absorption. Secondly, industry production techniques are very similar across states, especially for neighboring states and states with similar relative labor supplies. Both sets of results are consistent with productivity-adjusted FPE across either large states or groupings of related states.     

Consumers' evaluations of an international airport: a facet theoretical approach

Results are presented of a study of consumers' satisfaction with an international airport. A facet theory approach is adopted in research design and data analysis and the results are presented in relation to previous facet theory-guided research into design evaluation. Opportunity-sampled passengers (N = 115) arriving or departing air passengers returned completed and usable questionnaires. Analysis revealed the air passengers questioned were generally satisfied with the airport. Similarity structure analysis (SSA) provided support for the 'general mapping sentence for place experience' which was used to design the questionnaire. The mapping sentence has been developed in the literature through demonstrating a common structure to place evaluation which consists in facets of referent, focus and level. The referent facet composed elements of service, spatial and comfort; a focus facet with contained elements of primary and ancillary; and a level facet was independently present with elements of direct and indirect levels of contact. The paper concludes by developing a mapping sentence for airport design evaluation.     

Potential Payoff from R&D in the Coconut Industry of North Sulawesi, Indonesia

The coconut industry of North Sulawesi, one of the primary coconut-producing provinces of Indonesia, is dominated by a small number of products that are primarily exported overseas. As they only comprise a small share of the global coconut product export market, demand for coconut products from North Sulawesi is generally very elastic. Conversely, the supply of coconuts is highly inelastic, especially in the short to medium term. Hence, small shifts in supply and demand lead to large fluctuations in farmer incomes. In this context, an equilibrium displacement model is used to examine the intra-industry consequences of R&D investments in farm productivity and product development. These investments are assessed in terms of the producer surplus benefits that they generate.