Estimating the Impact of Anti-dumping and Anti-cartel Actions Using Intervention Analysis

Intervention analysis is proposed as a method for estimating the effects of anti-dumping actions in the presence of a domestic cartel. Data requirements and modelling effort compare favourably with traditional structural model approaches. The method is applied to an anti-dumping action brought to the European Commission and in which the European producers of the product were fined after an anti-cartel action by the Commission covering an overlapping period. Interven tion analysis is applied to distinguish the effects of the anti-dumping action from those of changes in cartel behaviour     

Efficient Timing of Retirement

This study introduces a retirement decision into the classic Merton model. A familiar result is that you should retire if and when the marginal utility of another year's wages is equal to the disutility of work. A new result is that at the point of retirement your exposure to risky assets should not jump. Under power utility and constant time preference, the retirement timing problem has a closed form solution; the nine inputs to the formula in question give rise to nine comparative-static results on retirement timing. Further specialization of preferences, to log consumption utility and zero time preference, reduces the required number of inputs to four. Journal of Economic Literature Classification Numbers: E21, G11, J26.     

A lorenz curve based index of income stratification

Conclusion This paper introduced a method of calculating the proportion, and its standardized index, of the GINI coefficient that is due to the overlapping of the incomes of different groups in a population. This Lorenz curvebased index measures the degree to which all groups, collectively, form different strata in a population as opposed to the degree to which an individual group forms a stratum in the population. It is useful for describing the degree of integration or segregation in a population as opposed to the degree of integration or segregation of a group within a population. The new index was applied to distributions of wage and salary income for individuals and family income for households. The results indicate that racial/ethnic income stratification is more marked among men than women.     

IMPOVERISHING TECHNICAL AND PREFERENTIAL IMPROVEMENTS

Abstract.  Edgeworth showed that a free-trading country might be impoverished by its own technical improvements if they are confined to the export industry and if no good is inferior in consumption. More recently it has been shown that improvements confined to the country's import competing industry can never be impoverishing if, in that country, no commodity is inferior in consumption. However, in all available proofs of these propositions, it has been assumed that for each country there exists an autarkic equilibrium. It will be shown that, without that assumption, the second proposition must be severely qualified.     

The spa experience at Radium Hot Springs

This paper examines the spa experience at Radium Hot Springs from the earliest days to the present in an attempt to indicate similarities and differences between Canadian spas and those in the United States and Western Europe. Radium is examined for five time periods under the headings of environment, strategies and institutions, perceptions and attitudes, and technology. Western Canadian spas share many traits with those of the United States, especially the western states, but the emphasis on natural attractions and federal government involvement have caused them to differ from those in Western Europe.     

Planning for housing in the post-Barker era: affordability, household formation, and tenure choice

The Barker Review of Housing Supply recommended the greateruse of market indicators as the basis for providing sufficientland for future housing requirements. Worsening affordabilitywould be a sign that more land is required. However, the traditionalapproach to land release used by planners is based on trendhousehold projections. The paper shows that this will typicallylead to worsening affordability over time. The paper, therefore,develops an alternative economic model more suitable to thepost-Barker era, covering both household formation and tenurechoice. The model is used to analyse a range of policy issues,including raising home-ownership rates and home-ownership sustainability.     

Cost Benefit Analysis in Theory and Practice

Cost benefit analysis evaluates investment proposals from within the public sector. This article explains the relevant theory and provides a real world example.     

The London Business School with Gower Publishing: Forecast Release: THE GULF WAR: RECESSION AND RECOVERY

The Iraqi invasion of Kuwait occurred at a time when many economies were in or heading towards recession. These trends were exacerbated by the Gulf crisis which had adverse effects on consumer and producer confidence. Now that the Gulf war is over, confidence is recovering but against the background of a relatively severe recession. In this Forecast Release we make use of a simple statistical tool to throw some light on how much of the downturn was due to confidence factors and thus to draw implications for the recovery. In broad terms we find that a large part of the US recession, in particular the downturn in consumer spending, was attributable to the effects on confidence of the Gulf crisis. In both the US and the UK, however, the effects on producer confidence were less marked, though here too the analysis suggests that, at its low point, producer confidence was also adversely affected by the crisis in the Gulf. The latest data show that there has been a full recovery in US consumer confidence but that producer confidence on both sides of the Atlantic remains well below pre-Gulf trends. On this basis, therefore, we would expect a further recovery in industry's confidence over the coming months.