Beer Taxation and Alcohol-Related Traffic Fatalities

Most studies of alcohol-related traffic fatalities find beer taxes to be an important policy variable. This is surprising since beer taxes only have a small impact on consumption and heavy drinkers are the least responsive to prices. This study shows that the tax relationship is not robust across data periods and that it reflects missing variable biases. While lack of control for law enforcement effort does not appear to bias tax coefficients, failure to include determinants of alcohol consumption other than taxes and drinking age and/or factors that simultaneously determine drinking behavior and political support for alcohol taxes apparently do.     

Risky business: How social psychology can help improve corporate risk management

Drawing on research in management theory, risk analysis, and the social sciences, this installment of Business Law & Ethics Corner promotes diversity of thought in corporate governance as not only beneficial to business growth and creativity, but also imperative to managing risk successfully. The article begins with a review of four major worldviews and the risk preferences of each. Next, it examines psychological processes that guide human decision making and greatly influence risk perception. The article then applies these worldviews and psychological phenomena to the case of risk management. It offers a critique of current risk management practices, drawing on evidence from the 2007–2008 financial crisis. The article concludes by promoting increased diversity of worldviews in corporate governance as a way to prevent the same risk blindness that led to the Great Recession.     

The migration and development nexus in Southern Africa Introduction

The role of international and internal migration in facilitating or inhibiting development is currently attracting considerable attention globally. In southern Africa, the migration–development nexus has been researched for a number of years and policy makers in both the development and migration fields are now paying it increasing attention and increasingly recognising the significance of migration for development and poverty reduction. Much of the international debate on this nexus is hampered by the absence of sound, reliable national and local data. This collection of essays by southern African researchers combines the national with the local, the quantitative with the qualitative, and addresses several prominent themes in the global migration–development debate: remittances, the brain drain and migrant rights. It also focuses on key migration–development issues which have received less attention globally, but which are of critical importance to southern Africa: migration and HIV/AIDS, migration and food security and the rural impact of migrant retrenchments. This Introduction to the collection contextualises the essays within current international and local debates.     

Evidence from Patents and Patent Citations on the Impact of NASA and Other Federal Labs on Commercial Innovation

Federal lab commercialization is explored: (1) by analyzing US government patents and (2) in a qualitative analysis of one NASA lab's patents. Tests apply to three distinct sets of patents, 1963–94: NASA, all other US government, and a random sample of all US inventors' patents. The federal patenting rate plummeted in the 1970s. Consistent with increasing commercialization, both NASA's and other federal agencies' rates recovered in the 1980s. The case study finds citations to be a valid but noisy measure of technology spillovers. Excluding 'spurious' cites, two-thirds of cites to patents of NASA-Lewis' Electro-Physics Branch were evaluated as involving spillovers.     

Logistical Strategies and Risks in Canadian Grain Marketing

Logistics management in grain marketing has become very important with the maturity of the industry. This is particularly critical in the Canadian grain marketing system, which has experienced disruptions for various reasons over many years. These problems have been the topic of numerous industry evaluations, have resulted in a complaint about service obligations during the 1996–97 crop year, and were addressed by the Estey Commission. A detailed model of the Canadian grain logistics system is developed in this paper to evaluate factors that cause disruptions, as well as the effect of several important logistics and marketing strategies on system performance. The results illustrate that there is sufficient randomness throughout the various functions of the system that it is expected that demurrage at the west coast would periodically be an important cost. The frequency of service disruptions and demurrage are affected by several factors, including the distribution of tough and damp grains, mis‐graded grain and the level of exportable supplies. Several strategic variables affect system performance. These include the aggressiveness in selling relative to capacity and the level of beginning port stocks. La gestion de la logistique dans le commerce des céréales a acquis une grande importance maintenant que ce secteur a atteint la maturité. C'est particulièrement important dans le système canadien de mise en marché des céréales lequel, pour diverses raisons, a essuyé bien des perturbations ces dernières années. Les problèmes en cause ont fait l'objet de nombreuses évaluations du secteur. Ils ont même abouti au dépôt d'une plainte sur les obligations de service dans la campagne agricole 1996–1997 et ont étéétudiés par la Commission Estey. Dans la présente communication nous avons construit un modèle détaillé du système canadien de logistique du marché des céréales ainsi que de l'effet de plusieurs stratégies importantes de logistique et de commercialisation sur la performance du systeme. Les résultats obtenus montrent qu'il y a suffisamment d'aléatoire dans les diverses fonctions du systeme pour conclure que les frais de séjour à quai sur la côte ouest seraient périodiquement un important poste de dépense. La fréquence des perturbations des services et les coûts a quai sont associés à plusieurs facteurs dont la livraison de grain gourd et humide, de grain mal classé et le niveau des disponibilités exportables. Plusieurs variables stratégiques influent sur le fonctionnement du système, notamment l'agressivité manifestée dans la vente par rapport aux stocks disponibles et le niveau des stocks disponibles dans les ports au début de la campagne d'exportation.     

Futures sustainability

This article presents a strategic framework to guide public policy with respect to very long-term futures. The framework is based upon three fundamental principles. Threats to meeting the principles are assessed. Integrated planning responses to overcoming the threats are proposed. Significant changes in economic, political and social theory and organization required to support the strategic responses are discussed. It is argued that human civilization would need to pass through the mythic ‘singularity’ on the path to futures sustainability.     

Foreign Direct Investment,Economic Growth,and the Human Capital Threshold: Evidence from US States*

The United States has experienced a dramatic increase in foreign direct investment (FDI) in recent years. While foreign firms bring immediate benefits of high‐paying jobs, data limitations have prevented detailed study on FDI's long‐term effects on the states receiving it. By creating a new stock measure of FDI based on employment, we are able to capture these long‐term effects. Results demonstrate that FDI has a greater impact on per capita output growth than domestic investment for US states that meet a minimum human capital threshold. Ironically, the most active states in the recruitment of FDI tend to fall below this threshold.     

Market efficiency,purchasing power parity,and black markets: Evidence from latin american countries

Zusammenfassung Markteffizienz, Kaufkraftparit?t und Schwarzm?rkte: Evidenz aus lateinamerikanischen L?ndern. - Die Arbeit verwendet den von Rogalski/Vinso und Roll entwickelten theoretischen Rahmen, um das Verhalten der W?hrungen von Kanada und den USA sowie von ausgew?hlten lateinamerikanischen L?ndern auf dem dortigen Schwarzmarkt zu untersuchen. Abweichungen von der Kaufkraftparit?t werden analysiert, ebenso die Beziehungen zwischen diesen Abweichungen, den Wechselkursen und Inflationsdifferentialen, um die Vereinbarkeit der Kaufkraftparit?t mit der Konzeption der effizienten M?rkte und mit dem monet?ren Ansatz zu prüfen. Die Ergebnisse stützen im allgemeinen die Hypothese der effizienten M?rkte und liefern interessante Informationen über eine normalerweise vernachl?ssigte Gruppe von Wechselkursen.

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Résumé Efficacité de marché, parité de pouvoir d’achat et marchés noirs: Evidence des pays latino-américains. - Les auteurs utilisent le cadre théorique développé par Rogalski/ Vinso et Roll pour analyser la performance des monnaies de marché noir des pays latinoaméricains sélectionnés ainsi que des monnaies des E. U. et de Canada. Le comportement des déviations de la parité du pouvoir d’achat (PPA) est examiné aussi bien que les relations entre ces déviations, les taux de change et les différences d’inflation pour analyser la compatibilité de la PPA avec la conception des marchés efficients et l’approche monétaire. Les résultats supportent généralement l’hypothèse de marché efficient et offrent des informations intéressantes sur un groupe des taux de change généralement négligé.

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Resumen Mercados eficientes, paridad del poder adquisitivo y mercados negros: Evidencia de países latinoamericanos. - En este trabajo se utiliza el marco teórico desarrollado por Rogalski/Vinso y por Roll para analizar el funcionamiento de mercados negros seleccionados en Latinoamérica, los EEUU y Canadá. Se examina el comportamiento de las desviaciones de la paridad del poder adquisitivo (PPA) como también las relaciones entre las desviaciones, los tipos de cambio y las diferencias entre las tasas de inflatión con el fin de investigar la compatibilidad del PPA con los enfoques de mercados eficientes y monetario. Los resultados obtenidos apoyan en general la hipótesis de mercodos eficientes e iluminan aspectos interesantes de tipos de cambio habitualmente obviados.

     

Revisiting the ‘Court of Generations’ Amendment : A conversation

In 1991, futurist Bruce E. Tonn proposed a ‘Court of Generations’ Amendment to the US Constitution. His proposed ‘Court of Generations’ lacked punitive powers but, hopefully, would have sufficient legitimacy to counteract extreme present-minded thinking evident in US political processes and institutions. Although Tonn's ‘Court of Generations’ Amendment has been well received in the futures community, who else has heard of it? Otherwise, has it made any difference? How can the cumbersome and nonfuturistic amendment procedure in the US Constitution generate a futures-oriented ‘Court of Generations’? And for those who sincerely look forward to a ‘Court of Generations,’ precisely what kind of tactically savvy visionary leadership will give the ‘Court of Generations’ any chance of being approved? During 1997, Vincent Kelly Pollard engaged Dr. Tonn in an Internet conversation aimed at clarifying these issues.