Preferences and the labour supply of married women

The paper reports the main results of using British cross-section data to estimate a labour supply function in which preference variables are interacted with terms measuring the slope and position of the budget constraint.     

Bridges over contested terrain: Exploring the radical account of the employment relationship

Richard Edwards' account of the transformation of the employment relationship in the twentieth century is used as a vehicle for integrating the radical analysis into the more conventional treatment. Most non-radical analyses rely on idiosyncratic skills to explain the existence of job security and other features of the modern employment relationship. Here an alternative explanation is proposed and some of its implications are explored.     

Über die Existenz einer stetigen,reellenNutzenfunktion

Ohne ZusammenfassungHerrn Prof. J. Nitsche (Freiburg) danke ich für die kritische Durchsicht einer ersten Fassung des Manuskriptes, ebenso danke ich Prof. Robert Reichardt (Wien) für einige kritische Anmerkungen. Für mögliche Fehler bleibe ich jedoch allein verantwortlich.     

Rising marginal cost and concavity of the production function

Suppose a production function, f, is continuous, quasi-concave and weakly monotone on the non-negative orthant of Euclidean n-space. Let c(·, ·) be the associated cost function. Then it is shown that f is concave if and only if for each w, c(w, ·) is convex.     

Corporate financial structure and the funding of private pension plans

One strand of the literature on the employment contract focuses on the role of the contract in the efficient sharing of risk between capitalists and workers. One way capitalists can shift risk to workers is to provide part of workers' remuneration in the form of an unfunded, deferred pension. Since bonds, in the event of bankruptcy or voluntary termination, are typically senior to unfunded pension liabilities, capitalists can also affect their risk by altering the firm's debt-to-equity ratio. These observations suggest that corporate financial structure and the employment contract are interdependent. The paper has two major goals. The first is to take a step towards integrating the theory of corporate financial structure with that of the employment contract. The second is to investigate possible consequences of legislation which regulates the funding of private pensions.     

Dynamic effects of externalities,optimal saving and economic growth

Conclusion Recognizing the fact that provision of mixed public goods can result in both consumption externalities of the Samuelsonian variety as well as production externalities we set out to extend the earlier results of Rao and Kalpagam (1977) on the effect of public goods on economic growth. In so doing, we considered three standard specifications of production externalities and enlarged the concept of consumption displacement. Our basic conclusion is that the results of our earlier paper remain valid under the more general conditions set out in this paper.     

Implicit social preferences in the Norwegian system of indirect taxation

The revelation of implicit social preferences is a fresh field of econometrics. In this paper the theoretical setting is a model of optimal indirect taxation. A parametric preference function is specified, which makes it possible to separate and quantify three different effects. First, it provides a condensed quantitative measure of the degree of income inequality aversion. Second, a set of parameters evaluate external social costs induced by the consumption of certain commodities. Finally, the function allows estimation of implicit equivalent income scales. The authors consider the results as a source of information about an important part of Norwegian tax policy.     

Some fallacies in futures research

Can we study the future “rationally” and “scientifically”? This paper examines the methods now in use and finds the assumptions shaky, the tools faulty, and the implications dangerous. With data as the driver, analysis the watchword, quantification the rule, and model-building the prime preoccupation, futurology rests heavily on two key pillars, the information base and cost/benefit calculations. Because these are shown to rest on quicksand, the elaborate methodological structure based on them totters precariously.