摘要:

Most studies of the impacts of the North American Free Trade Agreement assume that once the agreement is in place, it will remain in place. Some common theories of trade and of special interest groups' influences upon government policy call these assumptions into question. If ratification of the agreement represents a loss for some import‐competing special interest groups, the loss likely will be only of a battle in a war that continues. Attempts to abridge the effects of the agreement may succeed even if the agreement itself is not abridged. U.S. special interest groups rather than their Mexican counterparts will make the majority of these attempt

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00356.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

Only recently has Japan become the world's largest investor. Yet stories of investors taking their money home already have developed. Are Japanese investors taking their money home? Would it matter? To answer these questions, one must examine the economic, regulatory, and political motivations guiding Japanese investments. So far, shifts in the flows of funds have not been sensational, but by no means should one dismiss the shifts as irrelevant. A tightening of liquidity at home and a pricking of the bubble's in Japan's equity and land markets have altered the calculus of returns on overseas investments. Tims, the annual increments to Japan's overseas holdings, which already had shrunk in 1990, should stay low in the coming years. Tlie impact on global financial markets will depend crucially on whether new flows from Japan fall faster than new demands for funds outside of Japan.

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00357.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

This paper examines the main causes of the acceleration of inflation in Yugoslavia during the 1980s and Yugoslavia's last attempt at stabilization in 1990. Yugoslav inflation shares common elements with inflation in other highly indebted countries despite appearances otherwise. Like these other countries, Yugoslavia failed to make internal adjustments to match a large transfer to resources abroad, resulting in a large internal redistribution to real resources through inflation. However, in Yugoslavia these internal conditions were not transparent. Instead of an open fiscal deficit, complex interactions took place among enterprises, banks, and the central bank, involving the central bank's absorption and servicing of a large stock of foreign exchange liabilities.Failure to correct hidden losses in the economy was the main reason that various stabilization attempts failed during the 1980s. The 1990 program was the first to recognize the existence of those hidden losses and the need for a fiscal correction. The program succeeded in eliminating the central bank's own deficit and was initially successful infighting inflation, but pressures to finance enterprises and avoid a liquidity crisis in the financial system resulted in a relaxation of monetary policy and a revival of inflation. Seen from this angle, the Yugoslav program of 1990 resembles other heterodox programs that had initial success in reducing inflation but later faltered because of an insufficient fiscal adjustment.

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00358.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

Some authors point to growing public awareness and financial stress on families to explain the increased number of child maltreatment reports over the past decade. This paper tests the relative importance of these two factors in explaining the increase. It compares and evaluates two conceptual models to see how well they predict the surge in child maltreatment reports over the last decade and the variability of reports across communities. A better understanding of the factors associated with child maltreatment will aid social service agencies in their attempt to mitigate further maltreatment of children.

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00359.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

During the 1980s, a number of states operated welfare‐to‐work programs on a demonstration basis and subjected these demonstrations to formal cost/benefit evaluations. This paper examines the evaluators' methods and summarizes and interprets their findings. Cost/benefit analysis of welfare‐to‐work programs can provide a rough but useful assessment of a program's efficiency in reducing welfare caseloads. But the evaluation results are more difficult to interpret than they may appear to be. For example, the results typically imply that such programs produce small net gains to society when gains and losses are measured in terms of net income. However, a sensitivity analysis measuring net gains and losses to welfare recipients in terms of changes in net utility suggests that an important modification to the evaluators' methodology might well reverse this finding in many in

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00360.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

Selected studies based on the National Longitudinal Surveys of Youth Labor Market Experiences (NLS) and the High School and Beyond Surveys (HS&B) offer both consistent and conflicting findings about the experience of Hispanics in school and work. Non‐high school completion, college attendance, and the link between education and economic gains varied by the sample selected, gender and ethnic group, and model specification. Methodological complexities prevent a meaningful synthesis of the findings. This paper focuses on these research complexities in an attempt to translate the findings into policy statements that could improve Hispanics' school‐to‐work exper

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00361.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

Taxes or rental charges for water use are bearable and legal and would spur water economy, but the following fallacies impede acceptance of these ideas: (i) water rights are real property, (ii) a charge on water would be passed on to consumers, (iii) the cost of water is just its development cost, (iv) markets solve most problems if property rights are firm, (v) only consumptive use is a social cost, and (vi) common rights must spell tragedy. This paper dispels these fallacies while advocating taxation and/or rental charges for water use.

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00362.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

This paper outlines a procedure for embodying the principle of resource sustainability in evaluating projects that use significant amounts of natural resources. In this analysis, sustainability requires maintaining the productivity of the resource used over time, either by renewing the resource or by investing its depletion in other capital assets. The basis of a project's evaluation is its net present social value (NPSV), including resource depletion as a social cost. The social cost of depletion is the amount that must be saved and reinvested annually to accumulate a fund that will yield a perpetual annual income equal to the net output lost by resource depletion. By treating resource depletion as a social cost in calculating NPSV, projects causing a high rate of resource depletion receive a relatively low valuation compared with projects causing less resource depletion. Resource depletion includes environmental damage caused by constructing and operating a project, as well as the direct consumption of natural resources.Several problems arise in reinvesting depletion to preserve the value of a resource base. One major problem relates to the substitutability of man‐made capital for natural resources. The conclusion of the analysis here is that society must invest a substantial amount of resource depletion in: (i) replenishing renewable resources, (ii) increasing product output per unit of resource used, or (Hi) increasing the end‐use efficiency of resource‐intensive pro

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00363.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

Before introducing cash discounting in retail gasoline markets, major oil companies offered proprietary credit cards as an unpriced service to their customers. This paper analyzes the origins of cash discounting in order to determine why oil companies introduced explicit pricing of the credit service in 1982 only to begin discouraging it by the end of the decade. Sharp increases in nominal interest rates and in the real price of gasoline between 1978–1982 spurred a rapid rise in the cost of financing accounts receivable. This increasing cost in part drove the initial decision to discount. By 1990 the discounting trend reversed as the costs of processing credit transactions and of the float associated with non‐revolving accounts receivable fell.Using station data from Delaware in 1983 and Washington in 1989, the paper also provides two separate estimations of the subsidy to credit buyers by cash buy

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00364.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY

摘要:

This paper presents data concerning the performance of the U.S. commercial bank supervisory system and identifies a number of needed improvements in areas including: (i) rules governing bank loss recognition, (ii) supervisory response to excessive loan concentrations and poor underwriting standards, (Hi) rules governing dividend payments by troubled banks, and (iv) the early closure or resolution of troubled banks.

ISSN:1074-3529    

DOI:10.1111/j.1465-7287.1992.tb00365.x

出版商:Blackwell Publishing Ltd    

年代:1992

数据来源: WILEY