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2011

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Full-Text Articles in Social and Behavioral Sciences

Markets In Ip And Antitrust, Herbert J. Hovenkamp Dec 2011

Markets In Ip And Antitrust, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

The purpose of market definition in antitrust law is to identify a grouping of sales such that a single firm who controlled them could maintain prices for a significant time at above the competitive level. The conceptions and procedures that go into “market definition” in antitrust can be quite different from those that go into market definition in IP law. When the issue of market definition appears in IP cases, it is mainly as a query about the range over which rivalry occurs. This rivalry may or may not have much to do with a firm’s ability to charge ...


Reflection, Richard C. Crepeau Dec 2011

Reflection, Richard C. Crepeau

On Sport and Society

As I prepare to leave England and return to Florida and as the end of the year approaches, I have thought about writing an end of the year summary piece. Thinking about that I decided that what I only would reflect upon the last six or seven weeks of this year, weeks that have turned out to be most remarkable in content and emblematic of the past year.


Daily Stock Market Movement From Oscillating Social Mood Factors, Cari Bourette Dec 2011

Daily Stock Market Movement From Oscillating Social Mood Factors, Cari Bourette

Cari Bourette

Since 2006, there has been ongoing research into the correlation of a set of oscillating mood factors and socioeconomic, geopolitical, and natural events with the goal of forecasting increased risks of destabilizing events. While promising results have been forthcoming, it has been difficult to present models that allowed those outside a small circle of specialists to participate. Between July 2007 and June 2010, weekly social mood projections, as published in monthly issues of MoodCompass, were used to develop a model to convert four oscillating mood factors into stock market expectations. This model was modified to generate signals of projected stock ...


Asia Vs América Latina, Guillermo Arosemena Dec 2011

Asia Vs América Latina, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


The Evolution Of Unemployment Relief In Great Britain, George R. Boyer Dec 2011

The Evolution Of Unemployment Relief In Great Britain, George R. Boyer

George R. Boyer

[Excerpt] Relatively little has been written about unemployment relief during the period between the passage of the Poor Law Amendment Act in 1834 and the adoption of national unemployment insurance in 1911. This study is an attempt to help fill the gap in the literature. It examines the changing roles played by poor relief, private charity, trade unions, and public employment in the lives of the urban unemployed during cyclical downturns from 1834 to 1911. The story that emerges offers no support for a "Whig theory of welfare." Public assistance for the unemployed was more generous, and more certain, from ...


The Development Of The Neoclassical Tradition In Labor Economics, George R. Boyer, Robert S. Smith Dec 2011

The Development Of The Neoclassical Tradition In Labor Economics, George R. Boyer, Robert S. Smith

George R. Boyer

This essay on labor economics examines neoclassical theory's rise to ascendancy following the second World War, with a secondary focus on the relative decline but continued influence of institutionalist economic theory. The authors describe the evolution of institutional and neoclassical theory from the late nineteenth to mid-twentieth centuries, examine some early intellectual debates between the two camps, briefly describe the work of neoclassical labor economics pioneers, and look at major developments over the past 30 years. They argue that neoclassical economists' increasing intellectual breadth and influence in public policy have led them to pay closer attention to issues that ...


The Historical Background Of The Communist Manifesto, George R. Boyer Dec 2011

The Historical Background Of The Communist Manifesto, George R. Boyer

George R. Boyer

[Excerpt] The Manifesto of the Communist Party, published 150 years ago in London in February 1848, is one of the most influential and widely-read documents of the past two centuries. The historian A. J. P. Taylor (1967, p. 7) has called it a "holy book," and contends that because of it, "everyone thinks differently about politics and society." And yet, despite its enormous influence in the 20th century, the Manifesto is very much a period piece, a document of what was called the "hungry" 1840s. It is hard to imagine it being written in any other decade of the 19th ...


Malthus Was Right After All: Poor Relief And Birth Rates In Southeastern England, George R. Boyer Dec 2011

Malthus Was Right After All: Poor Relief And Birth Rates In Southeastern England, George R. Boyer

George R. Boyer

The payment of child allowances to laborers with large families was widespread in early nineteenth-century England. This paper tests Thomas Malthus's hypothesis that child allowances caused the birth rate to increase. A cross-sectional regression model is estimated to explain variations in birth rates across parishes in 1826-30. Birth rates are found to be related to child allowances, income, and the availability of housing, as Malthus contended. The paper concludes by examining the role played by the adoption of child allowances after 1795 in the fertility increase of the early nineteenth century.


The Poor Law, Migration, And Economic Growth, George R. Boyer Dec 2011

The Poor Law, Migration, And Economic Growth, George R. Boyer

George R. Boyer

The loss to the English economy caused by decreased migration resulting from relief payments to agricultural laborers is estimated. I conclude that, at worst, the Poor Law had a small negative impact on national product. If poor relief and wages were substitutes, the Poor Law may have had a positive impact on capital formation and economic growth.


What Did Unions Do In Nineteenth-Century Britain?, George R. Boyer Dec 2011

What Did Unions Do In Nineteenth-Century Britain?, George R. Boyer

George R. Boyer

The article examines the development of the insurance function of trade unions. It analyzes how such policies worked, and why union benefit packages differed across occupations. It also addresses the impact of insurance policies on union organization. Insurance benefits increased the ability of unions to attract and retain members. They did not, however, significantly increase the power of union leaders relative to employers or union rank and file.


Unemployment And The Uk Labour Market Before, During And After The Golden Age, Timothy J. Hatton, George R. Boyer Dec 2011

Unemployment And The Uk Labour Market Before, During And After The Golden Age, Timothy J. Hatton, George R. Boyer

George R. Boyer

During the ‘golden age’ of the 1950s and 1960s unemployment in Britain averaged 2 per cent. This was far lower than ever before or since and a number of hypotheses have been put forward to account for this unique period in labour market history. But there has been little attempt to isolate precisely how the determinants of wage setting and unemployment differed before, during and after the golden age. We estimate a two-equation model over the whole period from 1872 to 1999 using a newly constructed set of long-run labour market data. We find that the structure of real wage ...


Labour Migration In Southern And Eastern England, 1861-1901, George R. Boyer Dec 2011

Labour Migration In Southern And Eastern England, 1861-1901, George R. Boyer

George R. Boyer

This paper examines the determinants of migration from 19 southern counties to six major destinations in England and Wales from 1861-70 to 1891-1900. I find that, while the size of origin-destination wage gaps and the distance between origin and destination areas were important determinants of migration flows, as expected, migration was also strongly influenced by the number of previous migrants from an origin county living in a destination. The assistance provided by previous migrants to friends and relatives contemplating migration led to a perpetuation of earlier migration patterns, and helps to explain the continued dominance of London as a destination ...


New Estimates Of British Unemployment, 1870-1913, George R. Boyer, Timothy J. Hatton Dec 2011

New Estimates Of British Unemployment, 1870-1913, George R. Boyer, Timothy J. Hatton

George R. Boyer

We present new estimates of the British industrial unemployment rate for 1870- 1913, which improve on the Board of Trade's prior estimates. We use similar sources, but our series includes additional industrial sectors, allows for short-time working, and aggregates the various sectors using appropriate labor-force weights from the census. The resulting index suggests a rate of industrial unemployment that was generally higher, but less volatile, than the board's index. We then adjust our series to an economywide basis, and construct a consistent time series of overall unemployment for 1870-1999.


The Costs Of Shareholder Activism: Evidence From A Sequential Decision Model, Nickolay M. Gantchev Dec 2011

The Costs Of Shareholder Activism: Evidence From A Sequential Decision Model, Nickolay M. Gantchev

Publicly Accessible Penn Dissertations

Recent work on hedge fund activism documents substantial abnormal returns but fails to answer the question whether these returns cover the large costs of activist campaigns. This paper provides benchmarks for monitoring costs and evaluates the net returns to activism. I model activism as a sequential decision process consisting of demand negotiations, board representation and proxy contest and estimate the costs of each distinct stage. A campaign ending in a proxy fight has average costs of $10.71 million. The proxy contest is the most expensive stage, followed by demand negotiations. The estimated monitoring costs consume more than two-thirds of ...


Film And Television Production In Massachusetts: The Beginning Of Hollywood East?, Pacey C. Foster, David Terkla Dec 2011

Film And Television Production In Massachusetts: The Beginning Of Hollywood East?, Pacey C. Foster, David Terkla

David G. Terkla

After declining in the 1990s (laubacher, 2006), the Massachusetts film and television industry reached a nadir with the closing of the Massachusetts film office in 2002. To revitalize this once-thriving local creative industry, in 2005 the state legislature passed a tax incentive plan that provided a bankable tax credit for qualifying motion picture and television productions in Massachusetts. As updated in 2007, the Massachusetts film tax credit (FTC) provides a refundable/transferrable tax credit for 25% of qualifying wage and non-wage production expenses and a sales tax exemption for qualifying in-state spending. Massachusetts joined, at the maximum, 43 other states ...


¿Fracaso Unión Europea?, Guillermo Arosemena Dec 2011

¿Fracaso Unión Europea?, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


Agrarian Reform And Philippine Political Development, Frede G. Moreno Dec 2011

Agrarian Reform And Philippine Political Development, Frede G. Moreno

Frede G Moreno

No abstract provided.


Agrarian Reform And Philippine Political Development Agrarian Reform And Philippine Political Development, Frede G. Moreno, Susana Evangelista Leones Dec 2011

Agrarian Reform And Philippine Political Development Agrarian Reform And Philippine Political Development, Frede G. Moreno, Susana Evangelista Leones

Frede G Moreno

Landownership problem and control of resources remains as a political development issue in the Philippines. Agrarian reform is a necessary condition for agricultural modernization and rural industrialization and the fundamental mooring for global competition. Agrarian Reform has contributed to improvement of the socio-economic conditions of landless farmers and political development of the Philippines in terms of engaging the landless in the process of policy making and distribution of large private landholdings to the landless. Modalities giving peasants a stake in society such as decisive role in agrarian legislations, engaging them in dialogue to resolve agrarian cases, presenting manifesto pinpointing their ...


Uncertainty, Technical Change, And Policy Models, Erin Baker, Leon Clarke, Jeffrey Keisler, Ekundayo Shittu Dec 2011

Uncertainty, Technical Change, And Policy Models, Erin Baker, Leon Clarke, Jeffrey Keisler, Ekundayo Shittu

Jeffrey Keisler

Both climate change and technical change are uncertain. In this paper we show the importance of including both uncertainties when modeling for policy analysis. We then develop an approach for incorporating uncertainty of technical change into climate change policy analysis. We define and demonstrate a protocol for bottom-up expert assessments about prospects for technologies. We then describe a method for using such assessments to derive a probability distribution over future abatement curves, and to estimate random return functions for technological investment in different areas. Finally, we show how these analytic results could be used in a variety of energy-economic models ...


Cae Otro Muro Socialista, Guillermo Arosemena Dec 2011

Cae Otro Muro Socialista, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.


The Gift Of Difference, Effenus Henderson Dec 2011

The Gift Of Difference, Effenus Henderson

Effenus Henderson

A poem reflecting on how difference is a gift and leaders should learn to appreciate, value and respect that gift. In the end, leaders succeed or fail by how they behave towards difference.


Agrarian Reform And Philippine Political Development, Frede G. Moreno, Susana Evangelista Leones Dec 2011

Agrarian Reform And Philippine Political Development, Frede G. Moreno, Susana Evangelista Leones

Frede G Moreno

Landownership problem and control of resources remains as a political development issue in the Philippines. Agrarian reform is a necessary condition for agricultural modernization and rural industrialization and the fundamental mooring for global competition. Agrarian Reform has contributed to improvement of the socio-economic conditions of landless farmers and political development of the Philippines in terms of engaging the landless in the process of policy making and distribution of large private landholdings to the landless. Modalities giving peasants a stake in society such as decisive role in agrarian legislations, engaging them in dialogue to resolve agrarian cases, presenting manifesto pinpointing their ...


Corporate Integration, Tax Treaties, And The Division Of The International Tax Base: Principles And Practices., Hugh J. Ault Dec 2011

Corporate Integration, Tax Treaties, And The Division Of The International Tax Base: Principles And Practices., Hugh J. Ault

Hugh J. Ault

In this Article, Professor Ault begins with an examination of the evolution of treaty principles for the allocation of and restrictions on international taxing jurisdiction. He then focuses on how economically based principles dealing with the taxation of international income affect treaty policy and presents the basic structural provisions involving the taxation of foreign income and foreign investors that emerge from domestically enacted or proposed integration systems. The technical aspects of the actual treaty practices that have been implemented with respect to integration systems are then related to the theoretical discussion. Professor Ault concludes with an examination of the implications ...


[Review Of The Book Jobs And Incomes In A Globalizing World], Gary S. Fields Dec 2011

[Review Of The Book Jobs And Incomes In A Globalizing World], Gary S. Fields

Gary S Fields

[Excerpt] This is a timely book about the labour market effects of globalization – specifically, the effects of globalization on jobs, wages and incomes in industrialized and developing countries. Ajit Ghose defines globalization as “a process of integration of national markets into a global market.” Globalization, he writes, is of such great concern now because of a new development: trade between developed and developing countries in competing products.


[Review Of The Book Beneath The Miracle: Labor Subordination In The New Asian Industrialism], Gary S. Fields Dec 2011

[Review Of The Book Beneath The Miracle: Labor Subordination In The New Asian Industrialism], Gary S. Fields

Gary S Fields

[Excerpt] Have workers in the newly industrializing countries (NIC's) of Asia benefited from the rapid economic growth in their economies? In this important book, Frederic Deyo contends that "beneath the miracle" of economic growth is the "extreme political subordination and exclusion of workers" in the economic development of Hong Kong, Korea, Singapore, and Taiwan. He sees the inability of East Asian workers to "influence the political and economic decisions that have shaped their lives" as the "dark underside" of Asian economic growth. The main body of the book is an examination of why this subordination has taken place.


[Review Of The Book Technology Choice And Employment Generation By Multinational Corporations In Developing Countries], Gary S. Fields Dec 2011

[Review Of The Book Technology Choice And Employment Generation By Multinational Corporations In Developing Countries], Gary S. Fields

Gary S Fields

[Excerpt] The present volume, by addressing technology choice and employment in multinational enterprises (MNEs), adds to our understanding of the determinants of demand for labor in developing countries. The book synthesizes results from case studies of MNEs in Singapore, Nigeria, Brazil, India, and Kenya, and it does so in such a way that the main conclusions can easily be identified.


[Review Of The Book Studies Of Urban Labour Market Behaviour In Developing Areas], Gary S. Fields Dec 2011

[Review Of The Book Studies Of Urban Labour Market Behaviour In Developing Areas], Gary S. Fields

Gary S Fields

[Excerpt] In the 1970s social scientists from all disciplines became aware that an understanding of how labor markets function is central to determining who benefits from economic growth. Only a few researchers concerned with the economic development of Asia, Africa, and Latin America, however, have examined labor markets in any serious way. Hence, a compendium entitled Studies of Urban Labour Market Behavior in Developing Areas is particularly welcome.


[Review Of The Book Bridging The Gap: Four Newly Industrialising Countries And The Changing International Division Of Labour], Gary S. Fields Dec 2011

[Review Of The Book Bridging The Gap: Four Newly Industrialising Countries And The Changing International Division Of Labour], Gary S. Fields

Gary S Fields

[Excerpt] The central focus of this book is the labor force in the context of structural change. Its title, "Bridging the Gap," signifies a concern with drawing the NICs closer to the developed world. The author, a senior economist and staff member of the International Labour Organisation, argues that "the experience of these four NICs also holds lessons for OECD countries, as it deals with such now universal issues as the role of government in the promotion of new ventures; how new growth areas can be identified; how foreign investors are attracted; and what the costs and benefits of government ...


Holding Charities Accountable: Some Thoughts From An Ex-Regulator, Catharine P. Wells Dec 2011

Holding Charities Accountable: Some Thoughts From An Ex-Regulator, Catharine P. Wells

Catharine P. Wells

This paper recounts a number of lessons learned in the course of serving as the Director of Public Charities for the Commonwealth of Massachusetts. It incorporates these lessons into a discussion of the proper analysis of charitable organizations. Should charities be analogized to for-profit firms or are they something that is essentially different? The paper argues that they lack many of the attributes of Coasian firms and that they should be considered as “consumption groups” that have different methods of accountability.


Who Owns The Local Church? A Pressing Issue For Dioceses In Bankruptcy, Catharine P. Wells Dec 2011

Who Owns The Local Church? A Pressing Issue For Dioceses In Bankruptcy, Catharine P. Wells

Catharine P. Wells

The recent bankruptcies of Catholic Dioceses are unprecedented. For the first time, Bankruptcy Courts must deal with the difficult question of who owns the parish church. In this paper, I will explore two possible sources of confusion about this question. The first is the non- commercial, charitable nature of the Church. The second is its organizational complexity. Resolving the confusion requires a familiarity with various different sources of law including charities law, bankruptcy law, trust law, and Canon Law. In this paper I address this issue by: 1. discussing why the equities and policies that govern charitable bankruptcies are different ...