International environmental policy perspectives for the nineties

Indications of a fundamental change in the climate, worsening pollution of international waters, destruction of the atmosphere, and other disconcerting changes in the environment are international problems that know no boundaries and affect the global community. Nevertheless there exist hardly any plans for concerted action. Environmental problems are still being handled mainly on a national scale. The road to an international environmental policy is long and fraught with conflict.     

The functional form of the consumption equation for Austria

Zusammenfassung In unserer Studie Consumer Behaviour in Austria konnten wir auf die Frage, ob für Österreich eine lineare oder eine log-lineare Konsumfunktion besser geeignet wäre, keine eindeutige Antwort geben. Die Unterschiede in den statistischen Kriterien und in der Prognosegenauigkeit für diese beiden konkurrierenden Funktionstypen waren so minimal, daß damit eine Entscheidung für einen der beiden Ansätze nicht gerechtfertigt werden konnte.In der vorliegenden Arbeit beschäftigten wir uns erneut mit der Frage, welcher Funktionstyp das Verhalten der österreichischen Konsumenten am besten erklärt. Nur beschränken wir uns diesmal nicht auf einen Test linearer und log-linearer Konsumfunktionen allein. Wir untersuchen vielmehr eine ganze Familie möglicher Konsumfunktionen, nämlich die aus einer Potenztransformation der Variablen resultierenden Funktionstypen. Lineare und log-lineare Konsumfunktionen sind dann Spezialfälle dieser größeren Familie von Funktionstypen.

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The authors wish to thank ProfessorsK. Rothschild, E. Streissler, andG. Tintner for their helpful comments.     

Identification structure of linear structural models

In this paper identification problems in linear structural models are discussed. A special but practically important form of these problems, the structural identifiability, is defined. Thereafter it is shown that this problem can be studied — without empirical data — by a set system defined on the set of free parameters of a model. This set system is the identification structure, or the matroid, of the model. It gives insight into the dependence of unidentified parameters. The advantages of this approach in research planning and in correcting nonidentifiable models is demonstrated. Finally we introduce the FORTRAN program LISRAN, which is designed to analyze a given linear structural model and to provide its identification structure.     

Commission proposals on budgetary and financial reform

In a speech to the European Parliament on 18th February 1987 the Commission President Delors publicly announced the Commission’s proposals for a fundamental reorganization of the system of financing the Community and of Community budgetary policy.1 What is the background of these proposals? How can they be assessed?     

CO-OPERATION IN COLLECTIVE ECONOMY

The Trend towards Concentration and Co-operation among Public Undertakings, Free Collective-Economy Undertakings, Co-operatives and Undertakings in the Utility Housing Sector.     

Reducing working hours in the context of growing real capital mobility

Can the reduction of working hours be a suitable policy instrument to reduce unemployment? The following article presents a model of the effects of such a reduction—without offsetting adjustments to wage rates—on unemployment in the context of growing real capital mobility between countries and discusses the consequences for economic policy.     

Monetary control in open economies: National versus global monetarism

For about a decade the central banks of the leading Western industrial nations have set annual money supply targets.¹ Despite the common monetarist tone of their strategies, each central bank uses its own definition of the money supply relating solely to its national territory (national monetarism), thereby laying itself open to criticism from those who, like Professor Ronald McKinnon, hold that nationally oriented money supply control has had its day and instead advocate management of the world money supply (global monetarism).² The following article tests the arguments of the proponents of an international quantity theory and examines whether domestically oriented money supply management is really out of tune with the times.     

Monetary co-operation in Europe

The decisions of the EC conference in Nyborg last autumn were designed to consolidate and expand monetary integration in Europe. What degree of integration have the many years of effort achieved? What are the prospects for the future of the European Monetary System?