Housing Statistics: Some Sources and Some Limitations

There are presently more statistics on the size, composition, and quality of the housing stock than ever before. This article discusses some of these sources and some of their limitations. The number and diversity of housing statistics, however, can overwhelm the user, and a model or framework is needed to keep the analyst on target. The same is true of a discussion of housing statistics. The framework in Kristof's study of housing needs for the National Commission on Urban Problems is used to limit the discussion to significant housing statistics from which any type of housing analysis can be constructed.     

The ethics of sentencing white-collar criminals

The consistent sentencing of white collar criminals does not exist in today's judicial system. Guidelines for sentencing individuals and corporations have already been developed by the U.S. Sentencing Commission but have not yet been implemented in the courts. Pros and cons of the guidelines are given, as is the extent and form of sentencing deemed appropriate for the individual or corporation. The activities of the sentencing commission are depicted by a timeline. Phillip W. Balsmeier is a professor of Management at Nicholls State University in Thibodaux, LA. He has published in Industrial Managementand the Journal of Small Business Management.Jennifer Kelly is a Master of Business Administration student at Nicholls State University. She is a graduate assistant in the President's office at the University.     

Labour quality and aggregate real-wage dynamics

The real wage plays an important role in many aggregate econometrics studies of the labour market. However, average wages, like any other average quantity, can change for two reasons – either through an underlying movement in the earnings potential of a unit of labour of given quality or, alternatively, through compositional changes which alter the relative proportions of different types of labour within the employed labour force. Using data from the General Household Survey to estimate earnings functions, the paper seeks to examine the contribution of these two factors for Britain from 1979 to 1989. It is shown that in periods of rising unemployment compositional changes can have a bigger effect on real-earnings growth than any underlying change in reward to labour of give quality. This raises the question of what economists actually are measuring when considering the behaviour of the aggregate real wage.     

A DISEQUILIBRIUM MODEL UNDER BILATERAL MONOPOLY*

The paper points out a crucial difference between the conventional disequilibrium macro model and partial equilibrium models of wage bargaining, In the former the real wage is constrained to be less than or equal to the marginal product, whereas in the latter the real wage is frequently constrained to be greater than or equal to the marginal product. The paper builds a disequilibrium model under bilateral monopoly, paying explicit attention to the labour market. The well-known union model of McDonald and Solow forms the basis of the labour market analysis. Just as the three regions of Keynesian Unemployment, Classical Unemployment and Repressed Inflation are configured in the conventional case, an equivalent exercise is undertaken but with the addition of a collectively negotiated wage. The particular wage agreement used is the Nash bargain. The framework is then used to account for the unusual events that occurred in the UK labour market 1979–81, particularly the unprecedented rise in unemployment with no diminution of the inflation rate. It suggests that there was a shift in bargaining advantage in favour of employers, which resulted in an increased share of profits in national income. This regime change exacerbated the unfavourable circumstances for labour, which existed at that time.     

The importance of foreign language skills in the tourism sector: A comparative study of student perceptions in the UK and continental Europe

There is little doubt that skills in the language of another country are invaluable when communicating with people from that country. This is nowhere more apposite than in the context of the cross-cultural interface between tourism enterprises and visitors. However, the need for such skills in the UK has gained little attention, even in the key area of tourism. UK-based research that has been undertaken reinforces this view and also established the attitudes and perceptions of tourism students to the study and development of foreign language (FL) skills. In contrast, other EU countries reputedly have a greater awareness of the need for these skills and commitment to developing them which leads to speculation that tourism students in continental Europe would have contrasting attitudes to their UK counterparts. Subsequent to review of the importance of FL skills in the tourism sector the findings of research undertaken to investigate this hypothesis are presented. Significant variations between UK and non-UK students are identified not the least of which is the comparatively weak attention given to FL skills development in the UK. In concluding, the implications of the findings are discussed and concerns raised over the need to address evident weaknesses in order to enhance career options and tourism management in the UK.     

A new family-community social structure

The purpose of this paper is to examine whether a new family-community social structure of accumulation (FSSA) has emerged in the Unites States to contribute to long-wave growth and development through the early decades of the 21st century. Institutions that promote system-functions or public goods are required for sustainable growth and development. Three dimensions of the potential FSSA institutions are examined in this paper, within the context of the systemic circuit of social capital: (a) stability within families, (b) trust and association in the community, and (c) the degree of relative equality. Overall, the findings are that a new FSSA does not currently operate in the US because the emerging family type is not promoting sufficient stability, trust has diminished to low levels, and structural inequality has continued to rise. These factors have negatively impacted long-term economic performance through several transmission mechanisms, which are analyzed in the paper. An earlier version of this paper was presented at the combined ASE-AFEE sessions of the 2003 ASSA meetings. The author wishes to thank Jonathan Goldstein, Terry McDonough, Ron Stanfield and Patrick Welch for comments and encouragement on the earlier version.