Devaluation and its consequences in developing countries

To analyze the role of the trade and payments regime in economic development the National Bureau of Economic Research undertook a major research project on this issue. In this article a brief report on some of the findings pertaining to the effect of exchange rates, i. e. devaluation under exchange control is provided.     

An appraisal of the Box-Jenkins approach to univariate time series analysis

Summary Some comments are made on the current methodology associated with theBox-Jenkins approach. The three strokes of Identification, Estimation and Verification are considered; and a final stage, that of Interpretation, mentioned. A discussion of whether the approach is practicable is also given.     

Breastfeeding versus infant formula: the Kenyan case

An Infant Feeding Practices Study (IFPS) in 1982 in Kenya, which included a cross-sectional survey of a weighted sample of 980 low and middle income Nairobi mothers who had given birth in the previous 18 months, found that most women breastfeed their infants for long periods, but many introduce alternate feeding, especially infant formula, in the 1st 4 months (86 and 50% of the infants were breastfed at 6 and 15 months respectively, but 50% of the 2 month-olds and 63% of the 4 month-olds were receiving substitutes, mostly formula). This is done largely out of the belief that infant formula is an additional health benefit. A workshop to discuss the findings of the IFPS and other available data, and to make policy recommendations urged the adoption of a policy of protection, support and promotion of breastfeeding. Since breastfeeding is already widely prevalent in Kenya, protection of breastfeeding should receive the 1st priority in policy related to infant feeding. Attention should be directed at at least 2 influences which help undermine breastfeeding: widespread availability and promotion of breast milk substitutes. Support for breastfeeding is viewed as the 2nd policy priority. Situations where support can play a helpful role are, women's paid employment outside the home, hospital practices, maternal morbidity, and difficulties in breastfeeding. Since promotion is the least cost effective of the 3 options, and most Kenyan women are already motivated to breastfeed, this should be the last priority. Promotion includes reeduction of mothers to make them better aware of the benefits of breastfeeding. The workshop recommended the dissemination of appropriate information, consisting of standarized messages based on clearcut guidelines, using mass media techniques.     

Prostate cancer: a review of common underwriting problems, Part 1

Part 1 of a two-part discussion of Prostate Cancer from an underwriting perspective, covers the epidemiology and screening for prostate cancer. Included is a "Primer on Screening Tests" that discusses problems with digital rectal exam (DRE) and prostate specific antigen (PSA) as screening tests. Approaches to enhancing the use of PSA for screening including age and race specific ranging, PSA density, PSA velocity, free PSA, and complexed PSA are discussed. Arguments for and against the use of PSA for prostate cancer are presented. The widespread use of PSA testing in the insurance setting is contrasted with cautious statements concerning general use of PSA in the clinical preventive care setting. In a future issue, Part 2 will cover staging and follow-up of treated prostate cancer.     

TOWARDS PRACTICAL GUIDELINES FOR MULTIPLE USE MANAGEMENT*

The general acceptance of multiple use as a desirable management goal has not been matched by practical guidelines to implement and achieve that goal. As Pearse [5] rightly noted, the most serious obstacles to applying multiple use principles are usually the lack of appropriate data and lack of established methodology. This study did not face prohibitive problems in valuing extra-market goods, but as with all multiple use studies, it did face the problem of applying the standard economic model of the multi-product firm. It is hoped this particular empirical application of the model contributes generally to the provision of guidelines for multiple use management.     

America's need for an ‘Ethical Renaissance’

Remember the words of Cain, “Am I my brother's keeper?” God said to him that “his brother's blood cries out from the ground”. What do these words suggest for the role of government? I assert that there is an ethic of accountability, caring and sharing fundamental to individual and corporate life. Creation was provided for all humanity. Until we can grasp a global view of resource stewardship we cannot begin to consider wise utilization. The goal must be an ethical renaissance that will bring security more effective than any military force.