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3342. Urban and Industrial Pollution Programs: Czech Republic Case Study
- Author:
- Matthew Addison, Steven Gale, Keith Forbes, and Michael Gould
- Publication Date:
- 04-2001
- Content Type:
- Working Paper
- Institution:
- United States Agency for International Development
- Abstract:
- In 1995 USAID Launched the Environmental Action Program Support Project. EAPS grew out of a 1993 international conference held in Lucerne, Switzerland, to develop a joint environmental action program. The project sought to decrease environmental degradation in six central and eastern European countries that were making the transition from centrally controlled economies and authoritarian governments to open markets and more democratic institutions. The Czech Republic was the first USAID-assisted country where EAPS was implemented.
- Topic:
- Development, Economics, Environment, and Government
- Political Geography:
- Eastern Europe, Switzerland, and Czech Republic
3343. Pathways of Property Transformation: Enterprise Network Careers in Hungary, 1988-2000 Outline of an Analytic Strategy
- Author:
- Balázs Vedres and David Stark
- Publication Date:
- 10-2001
- Content Type:
- Working Paper
- Institution:
- Institute for Social and Economic Research and Policy at Columbia University
- Abstract:
- This study analyzes the restructuring of a national economy by identifying the career pathways of its enterprises. This analysis is conducted in a setting strategically chosen as a case of rapid and profound economic transformation: the postsocialist Hungarian economy between 1988-2000. The goal of this study is to chart the multiple pathways of property transformation. Property pathways are conceptualized as the patterned sequences of change that firms undergo 1) in the composition of their ownership structure and 2) in their position within network structures of ties to other enterprises. These career pathways are neither unidirectional nor plotted in advance. The landscape and topography of the socioeconomic field are given shape and repeatedly transformed by the interaction of the multiple strategies of firms attempting to survive in the face of variable political, institutional, and market uncertainties. These different types of uncertainties will have different temporalities, and the study explores whether and how they increase or diminish in various periods. We develop and test specific hypotheses about how enterprise pathways along the compositional and positional property dimensions are related to the shifting contexts of these types of uncertainty. The core dataset for this study includes the complete ownership histories of approximately 1,800 of the largest enterprises in Hungary for a twelve year period, starting with the collapse of communism in 1989, recording each change in a company's top 25 owners on a monthly basis. Monthly entries for each enterprise also include changes in top management, boards of directors, major lines of product activity, raising or lowering of capital, and location of establishments and branch offices, as well as the dates of founding, mergers, bankruptcy, etc. Data on revenues, number of employees, and operating profit will be compiled from annual balance sheets. These rich data make it possible to map the life cycles of the business groups that are formed by network ties among enterprises, identifying not only when they arise, merge, or dissipate, but also the changing shapes of their network properties. To identify patterns of change, the study draws on sequence analysis, a research tool that makes possible the study of historical processes in an eventful way similar to historiography while retaining social scientific abstraction. Whereas sequence analysis has given us a perspective on careers as historical processes but has not been applied to business organizations, network analysis has been applied to business organizations but has not been done historically. The methodological innovation at the heart of this study is to combine the tools of sequence analysis and network analysis to yield a sequence analysis of changing network positions.
- Topic:
- Economics and Government
- Political Geography:
- Eastern Europe and Hungary
3344. Distributing Intelligence and Organizing Diversity in New Media Projects
- Author:
- Monique Girard and David Starkj
- Publication Date:
- 09-2001
- Content Type:
- Working Paper
- Institution:
- Institute for Social and Economic Research and Policy at Columbia University
- Abstract:
- This paper examines how web design firms in the emergent new media industry probe and experiment with possible forms and sources of value giving shape to the new economy. Focusing on the collaborative engineering of cross-disciplinary web-design project teams, we examine how websites emerge as provisional settlements among the heterogeneous disciplines as they negotiate working compromises across competing performance criteria.
- Topic:
- Economics, Industrial Policy, Intelligence, and Science and Technology
3345. Alternative Models of Dynamics in Binary Time-Series-Cross-Section Models: The Example of State Failure
- Author:
- Nathaniel Beck, David Epstein, Simon Jackman, and Sharyn O'Halloran
- Publication Date:
- 08-2001
- Content Type:
- Working Paper
- Institution:
- Institute for Social and Economic Research and Policy at Columbia University
- Abstract:
- This paper investigates a variety of dynamic probit models for time-series–cross-section data in the context of explaining state failure. It shows that ordinary probit, which ignores dynamics, is misleading. Alternatives that seem to produce sensible results are the transition model and a model which includes a lagged latent dependent variable. It is argued that the use of a lagged latent variable is often superior to the use of a lagged realized dependent variable. It is also shown that the latter is a special case of the transition model. The relationship between the transition model and event history methods is also considered: the transition model estimates an event history model for both values of the dependent variable, yielding estimates that are identical to those produced by the two event history models. Furthermore, one can incorporate the insights gleaned from the event history models into the transition analysis, so that researchers do not have to assume duration independence. The conclusion notes that investigations of the various models have been limited to data sets which contain long sequences of zeros; models may perform differently in data sets with shorter bursts of zeros and ones.
- Topic:
- Economics and Industrial Policy
- Political Geography:
- Europe and France
3346. Self-Control for the Righteous: toward a Theory of Luxury Pre-Commitment
- Author:
- Ran Kivetz and Itamar Simonson
- Publication Date:
- 08-2001
- Content Type:
- Working Paper
- Institution:
- Institute for Social and Economic Research and Policy at Columbia University
- Abstract:
- Prior research has examined consumers' use of self-control to avoid hedonic (myopic) temptations, such as overbuying and smoking. We propose that consumers often exercise the opposite form of self-control, whereby they attempt to avoid default forms of spending on necessities and savings in favor of luxury, hedonic purchases. In particular, given the difficulty of choosing hedonic luxury items over necessities and cash in everyday (local) decisions, under certain conditions, consumers pre-commit to hedonic luxury consumption. Such pre-commitments to hedonic luxuries are more likely to occur when their psychological cost is less concrete. These propositions were tested in a series of studies involving real and hypothetical choices as well as process measures. The results indicate that a substantial segment of consumers choose hedonic luxury prizes over cash of equal or greater value; most of these consumers explain such choices as motivated by the need to pre-commit in order to guarantee a hedonic luxury experience and that the award does not end up in the pool of money used for necessities. In addition, consistent with our analysis, the likelihood of pre-committing to hedonic luxuries is enhanced when (a) the consequences of the decision will be realized farther in the future, (b) the odds of winning the reward are lower, and (c) consumers anticipate how they will use each possible award. We also show that hedonic luxury awards are more effective than cash as incentives for participation in a (real) lottery. The theoretical and practical implications of the results are discussed.
- Topic:
- Demographics, Economics, and International Trade and Finance
3347. An Empirical Comparison of Bundesbank and ECB Monetary Policy Rules
- Author:
- John H. Rogers, Jonathan H. Wright, and Jon Faust
- Publication Date:
- 08-2001
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- We estimate a monetary policy reaction function for the Bundesbank and use it as a benchmark to assess the monetary policy of the ECB since the launch of the euro in January 1999. We find that euro interest rates are low relative to this benchmark. We consider several possible reasons for this, including the divergence between core and headline inflation, inflation having turned out to be higher than could have been foreseen by the ECB and the possibility that the ECB is focussing only on macroeconomic conditions in a subset of member countries. We argue that these potential explanations cannot account for the difference between recent interest rates and our estimated Bundesbank benchmark. Our results suggest that the reaction function of the ECB features a high weight on the output gap relative to the weight on inflation, compared to the Bundesbank.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- United States
3348. Monetary Policy and Exchange Rate Pass-Through
- Author:
- Jane Ihrig and Joseph E. Gagon
- Publication Date:
- 07-2001
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- The pass-through of exchange rate changes into domestic inflation appears to have declined in many countries since the 1980s. We develop a theoretical model that attributes the change in the rate of pass-through to increased emphasis on inflation stabilization by many central banks. This hypothesis is tested on twenty industrial countries between 1971 and 2003. We find widespread evidence of a robust and statistically significant link between estimated rates of pass-through and inflation variability. We also find evidence that observed monetary policy behavior may be a factor in the declining rate of pass-through.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- United States
3349. Battling International Bribery 2001
- Publication Date:
- 07-2001
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- The battle against international bribery and other forms of public corruption remains a high priority for the United States. As President George W. Bush stated in his May 2001 message to the Second Global Forum on Fighting Corruption, “The corruption of governmental institutions threatens our common interests in promoting political and economic stability, upholding core democratic values, ending the reign of dictators, and creating a level playing field for lawful business activities.
- Topic:
- Foreign Policy, Defense Policy, and Economics
- Political Geography:
- United States
3350. Permanent and Transitory Components of Business Cycles: Their Relative Importance and Dynamic Relationship
- Author:
- Chang-Jin Kim, Jeremy Piger, and Richard Startz
- Publication Date:
- 05-2001
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- This paper investigates the relationship between permanent and transitory components of U.S. recessions in an empirical model allowing for business cycle asymmetry. Using a common stochastic trend representation for real GNP and consumption, we divide real GNP into permanent and transitory components, the dynamics of which are different in booms vs. recessions. We find evidence of substantial asymmetries in postwar recessions, and that both the permanent and transitory component have contributed to these recessions. We also allow for the timing of switches from boom to recession for the permanent component to be correlated with switches from boom to recession in the transitory component. The parameter estimates suggest a specific pattern of recessions: switches in the permanent component lead switches in the transitory component both when entering and leaving recessions.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- United States and Mexico