Old Wine in a New Bottle: Growth Convergence Dynamics in the EU

In this paper, we explore convergence of real per capita output across the European Union (EU) countries, as well as the transitional behavior of possible underlying factors that are responsible for any convergence or divergence pattern. The new panel convergence methodology developed by Phillips and Sul (2007) is employed in a production function growth accounting approach and data from the Total Economy Database and the Total Economy Growth Accounting Database. The empirical findings suggest that the EU countries form two distinct convergent clubs, exhibiting considerable heterogeneity in the underlying growth factors. These findings should help policy makers in designing appropriate growth-oriented programs as well as in setting priorities in their implementation.     

VOLUNTARY DISCLOSURE OF SEGMENT INFORMATION: FURTHER AUSTRALIAN EVIDENCE

This study provides further empirical evidence on incentives for Australian firms to voluntarily report segment information. Various economic reasons why firms may elect to present segment information have been hypothesised in previous research. Bradbury [1992] and McKinnon and Dalimunthe [1993] found firm size, minority interest and industry membership as significant identifiable characteristics motivating voluntary segmental disclosure. Variables found to be insignificant in Bradbury [1992] which were not examined by McKinnon and Dalimunthe [1993] are tested in this paper. Hypotheses relating to size, financial leverage, assets-in-place, earnings volatility, ownership diffusion, outside equity (minority) interest, overseas association as well as diverse and mining and oil classification hypotheses are empirically examined. Univariate tests and multivariate logit analysis suggest that for a extensive sample of diversified firms, voluntary segment disclosure is significantly related to size, leverage and involvement in mining or oil activities.     

Bottom Marx

Much of the economic analysis published in recent years has been Marxist in flavour. The publication of a dictionary of Marxist thought offers a guide to its various schools. Chris Tame dissects the contrasting interpretations of its numerous contributors.     

On the Unequal Inequality of Poor Communities

Communities differ in important ways in their needs, capacities,and circumstances. Because central governments are not ableto discern these differences fully, they seek to achieve theirpolicy objectives by relying on decentralized mechanisms thatuse local information. Household and individual characteristicswithin communities can also vary substantially. A growing bodyof theoretical literature suggests that inequality within communitiescan influence policy outcomes in ways that are either harmfulor helpful, depending on the circumstances. Until recently,empirical investigations into the impact of inequality havebeen held back by a lack of systematic evidence on community-levelinequality. This study uses household survey and populationcensus data to estimate per capita consumption inequality withincommunities in three developing economies. It finds that communitiesvary markedly in their degree of inequality. It also shows thatthere should be no presumption that inequality is less severein poor communities. The kind of community-level inequalityestimates generated here can be used in designing and evaluatingdecentralized antipoverty programs.     

Benefit cost management in the new millennium

The new millennium will bring new challenges to managing employee benefit plans. Costs are going up. The provider community is consolidating. The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) and the Health Insurance Portability and Accountability Act of 1996 (HIPAA) have added cost and complexity to benefit plans. Employers expect strategic partnering and a high degree of flexibility while simultaneously reducing benefit managers' budgets and staff. This article provides specific strategies and tactics for managing benefit costs in this new era.     

Crashing into the future

The title of this paper, Crashing into the Future, references a conception of technology as containing its own future demise. It is a conception of the future as accident or discontinuous. We find this in J.G. Ballard's novel Crash (1973), in many of David Cronenberg's early films of the seventies, and more recently in his film adaptation of Crash (1996). This paper focuses on Crash (both the novel and the film) in terms of the way the future is pathologized through the car, and, in particular, how the car crash foregrounds temporality in a manner that is traumatic.