The distributional impact of unification and the 1992–93 recession on West German households

The 1992–93 recession in the western states of Germany has been attributed, in substantial measure, to the macroeconomic consequences of policies to finance unification. Studies of the costs of unification have not attempted to measure the burden of the recession. We estimate a dynamic, panel model of household incomes using data from the German Socio-Economic Panel (GSOEP) and use it to forecast what these incomes would have been in 1992–94 without a recession. Using a ratio of actual to forecast incomes, we compare the relative burden of the recession across households. Our findings suggest that western households below the median income bore the brunt of the combined impact of unification and the recession of 1992–93.
JEL classification: P3, D3, E3.     

Employment in Estate Agents: Some Evidence from South West England

The estate agency industry has recently undergone a transformation from what was essentially a cottage industry into one dominated by large financial institutions. Despite the high profile of the industry now, little information exists on its characteristics and operations. This article presents some information on employment characteristics in the industry in the south west, focusing particularly on inter-regional differences and illustrating the affects on employment of the recent acquisition boom. Special attention is paid to the gender occupation mix.     

Demographic change and income inequality in the United States, 1976-1989

"The U.S. economy experienced significant increases in the degree of income inequality over the past two decades.... In this paper we consider the effects of race, age, female headship, and college education on the distribution of family income by developing a multivariate methodology that allows us to gauge the influence of one factor while holding other determinants of family incomes constant. Over the period studied we find that race had only a minor effect on the overall size distribution of income. Age had a somewhat greater effect than race. In contrast, the impact of female heads and college education were quite substantial. The multivariate estimates reveal that the effects of female heads and college education both increase the Gini to a much greater extent than the progressivity of federal income taxes decreases it. The effects of college education and female headed families on inequality have grown larger across time, while the influence of age has declined. We find that the effects of race on inequality have changed little over the 1976 to 1989 period."     

Expanded newborn screening for genetic and metabolic disorders: modeling costs and outcomes

Newborn screening for genetic and metabolic disorders is a state-based public health program in the United States, for the elimination and/or reduction of associated mortality, morbidity, and disabilities. As new technologies for newborn screening and new interventions for treatment are realized, it will be increasingly important for health leaders and policymakers to have data to inform their decisions regarding expanding newborn testing. The entire costs of a screening program, including not only instrumentation but also labor and time costs; initial, repeat, and confirmatory testing; screening sensitivity and specificity; and short and long-term followup, should be considered in decisions regarding expansion of screening programs. The decision model cited in this study can serve as a tool in exploring alternatives for critical decisions regarding the addition of new disorders to existing newborn screening panels. The evaluation of genetic disorders in this study can be used as a prototype of an approach to evaluating screening for any newborn genetic/metabolic disorder.     

Unfinished business: The new approach to assessing vertical restraints

Conclusions  The new approach to assessing the competitive effects of vertical agreements is to be welcomed. For too long, European competition law on vertical restraints has been dominated by the “block-exemption dependency culture” that has stifled discussion about economic effects and cut down the number of reasoned decisions the Commission has been forced to issue. There is however a long way to go before a fully coherent policy on vertical agreements is developed, and this paper has highlighted some areas where the current views on the application of the new approach are either misconceived or incomplete. In particular, there remains a danger that the number of decisions will be stifled by excessive reliance on market share tests. Under the new regime, there should be a strong onus on the Commission and national competition authorities both to develop and extend the economic thinking contained in its Guidelines and to produce reasoned decisions that set out what agreements will be viewed as acceptable and those which will not.     

The Changing Structure of Estate Agency

This article examines some of the causes and consequences of the recent merger boom and slump in the estate agency market. A case study of the market changes in Plymouth between 1987 and 1992 is presented and contrasted with a recent Tyneside study. It is shown that whilst the merger boom changed the structure of ownership in Plymouth it did not signijicantly affect overall mar- ket concentration as national chains concentrated their take-over strategy on local chains. However, national chains have in- creased their dominance during the recent slump as the result of the exit of many independents from the market.     

Defence in a peripheral region: The case of Devon and Cornwall

This article summarises the results of a number of recent surveys concerning the defence industry in Devon and Cornwall. The importance of defence to the two counties is highlighted and some of the implications of defence cutbacks are discussed. Various policy options for local authorities are assessed within the context of the findings of the surveys.