The spatial component of R&D networks

We study the role of geography in R&D networks by means of a quantitative, micro-geographic approach. Using a large database that covers international R&D collaborations from 1984 to 2009, we localize each actor precisely in space through its latitude and longitude. This allows us to analyze the R&D network at all geographic scales simultaneously. Our empirical results show that despite the high importance of the city level, transnational R&D collaborations at large distances are much more frequent than expected from similar networks. This provides evidence for the ambiguity of distance in economic collaboration which is also suggested by the existing literature. In addition we test whether the hypothesis of local buzz and global pipelines applies to the observed R&D network by calculating well-defined metrics from network theory.     

General Equilibrium Effects of Green Technological Progress

This paper demonstrates that technological progress in production of renewable energy can influence the extraction path of fossil fuels indirectly by a change in the equilibrium interest rate. We show in a simple model that the indirect effect can be so strong that first-period or even aggregate extraction levels rise with green technological progress, contrary to popular expectations.     

University Students' Entrepreneurial Intentions: A Comparative Analysis of Hong Kong and Guangzhou

Based on original survey data, this paper analyses and compares the role of personal traits and networks in determining entrepreneurial intentions of students in Hong Kong and in Guangzhou. The two cities are culturally closely related but differ strongly with respect to their labor market conditions and the maturity of their legal and business environments. We find that the determinants of students' entrepreneurial intentions differ substantially between Hong Kong and Guangzhou, with the findings for Hong Kong showing much similarity with previous findings for Western economies. This suggests that differences in labor market prospects and in the maturity of their legal and business environments might be more important than cultural (dis‐)similarities in identifying key factors forming students' entrepreneurial intentions.     

The changing consumer in Ireland

The decade of the 1980s was a difficult time for companies marketing goods and services in Ireland. The business environment was dominated by high unemployment and economic recession, due to a combination of internal and external factors, which dampened consumer confidence and restrained spending. Fortunately, the economy is recovering rapidly in the 1990s, with low interest rates leading to greater confidence which, in turn, is promoting both increased investment and consumer spending. The prospects for the remainder of the 1990s look favourable assuming stability in the business environment.This paper describes key features of the Irish economy, demography and society which determine the nature of the consumer market, and examines the variables that affect its performance. It also outlines the structure of the macromarketing environment and highlights important trends. It concludes with a discussion of the future outlook for the market and examines some of the implications for marketing management.     

The Reconciliation of Inconsistent Economic Data: the Information Gain

This paper demonstrates that the posterior estimates given by two common formulations of ‘data reconciliation’ problems result in better quality data. ‘Better quality data’ is interpreted in terms of the closeness of the posterior estimates to the true but unknown values. It is also shown that more or improved information further improves the quality of the posterior estimates. These results provide a deterministic rationale for the reconciliation of inconsistent economic data.     

VEHICULAR EMISSIONS AND CONTROL POLICIES IN HONG KONG

This paper briefly analyzes the state of vehicular pollution and control measures in Hong Kong. Vehicular emissions contribute largely to Hong Kong's air pollution and will become more important as the vehicle fleet expands. Hong Kong is unique in that a large fraction of its vehicles use diesel engines. The analysis here explicitly accounts for the composition of emissions and quantifies the relative magnitude of emissions by each of the five main sources: private cars, taxis, light buses, heavy buses, and lorries. The paper analyzes alternative pollution control policies with respect to effectiveness and efficiency.     

THE USE OF TENDENCY SURVEYS IN EXTRAPOLATING NATIONAL ACCOUNTS

A well-known way of using tendency survey data is the construction of Composite Leading Indicators (CLIs). It is rather peculiar that CLIs pretend to predict macroeconomic aggregates, while their construction is not consistent with the way actual macroeconomic statistics are compiled. This paper contains preliminary results of an attempt to integrate tendency survey indicators into the framework of the Dutch Quarterly Accounts. We conclude that tendency survey indicators can contribute to an explanation of trends in "real" economic variables. Many of these indicators lead the Quarterly Accounts indicators. They can, therefore, contribute to a timely estimation of National Accounts aggregates.     

Consumer demand theory,goods and characteristics: Breathing empirical content into the Lancastrian approach

To begin with, it is argued that consumer demand theory has resulted in narrowly econometric more than broadly managerial applications. Further, Lancaster's recognition of the intrinsic attributes of goods has not been adequately exploited. Lancaster is summarized and appraised and empirical work to date reviewed. Finally a test of the characteristics hypothesis is given, using survey data on beer consumption. Subjectivity of choice is explicitly recognized and factor analysis is used to evaluate the components of demand of which quality and price variables appear to dominate. With the matching of the people-characteristics features (demand) and the technical goods-characteristics attributes (supply) a method of predicting demand is derived. This methodology may be used for a wide range of consumer goods.     

The potential for mutually beneficial trade negotiations between the United States and advanced LDCs

Zusammenfassung Das Potential für beidseitig vorteilhafte Zollverhandlungen zwischen den Vereinigten Staaten und fortgeschrittenen Entwicklungsl?ndern. — Dieser Aufsatz versucht, das Potential für beidseitig vorteilhafte Zollsenkungen zwischen den Vereinigten Staaten und einer Auswahl ihrer gr?\ten Handelspartner unter den Entwicklungsl?ndern zu bestimmen. Ein partielles DreiL?nder-Gleichgewichtsmodell wird benutzt, um die direkten und indirekten Wirkungen auf den Au\enhandel abzusch?tzen, wenn die Zolls?tze bei den Gütern gesenkt Єrden, für die jedes Land Hauptlieferant ist. Diese Sch?tzungen best?tigen die bedeutenden potentiellen Vorteile von Zollsenkungen; jedoch zeigt eine eingehende Produktanalyse, da\ die Mehrheit der in Betracht kommenden Güter von amerikanischen Politikern bereits als ?import-sensibel? angesehen wird.

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Résumé Le potentiel des négociations mutuellement béneficiares sur le commerce extérieur entre les Etats Unis et les PVD avancés. — Ce papier essaie de déterminer le potentiel des réductions tarifaires mutuellement béneficiaires entre les Etats Unis et un échantillon des ses partenaires commerciaux les plus grands parmi les PVD. Nous appliquons un modèle de trois-pays et d’équilibre partiel pour estimer les effets commerciaux directs et ?spill-over? des réductions tarifaires pour des biens offerts principalement par chaque pays. Ces estimations documentent les bénéfices potentiels significatives des réductions tarifaires cependant les analyses détaillées de bien révèlent une majorité des produits négociables déjà considérés comme sensitifs aux importations par les politiciens des Etats Unis.

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Resumen El potencial para negociaciones comerciales mutuamente beneficiosas entre los EEUU y los países en desarrollo más avanzados. — En este articulo se trata de determinar el potencial de reducciones tarifarias mutuamente beneficiosas entre los EEUU y una muestra de sus socios comerciales más importantes. Un modelo de equilibrio parcial de tres países es usado para estimar los efectos comerciales directes y de ?spill-over? de reducciones tarifarias sobre items en los cuales cada país es el principal oferente. Estas estimaciones documentan los beneficios potenciales significativos de las reducciones tarifarias; sin embargo, un análisis detallado por productos revela que la mayoría de los productos negociables ya han sido considerados como sensibles a la importación por los formuladores de políticas de los EEUU.

     

THE ESTIMATION OF MORTGAGE PREPAYMENT RATES

This paper uses a model in which prepayment rates on large pools of mortgages are a function of the differential between the prevailing market rate for mortgages and the contract rate at which the mortgages were originally issued. The empirical part of the paper shows a significant inverse relationship between the interest-rate differential and prepayment rates. The relationship is most elastic whenever the current market rate for mortgages is between one and three percent below the contract rate of the pool. For a given interest-rate differential, the estimated prepayment rate generally decreases and the elasticity increases as the contract rate rises.