The Scout Report for Business & Economics - February 10, 2000

February 10, 2000

A Publication of the Internet Scout Project
Computer Sciences Department, University of Wisconsin-Madison

The target audience of the new Scout Report for Business & Economics is faculty, students, staff, and librarians in business and economics. Each biweekly issue offers a selective collection of Internet resources covering topics in the field that have been chosen by librarians and content specialists in the given area of study.

The Scout Report for Business & Economics is also provided via email once every two weeks. Subscription information is included at the bottom of each issue.

In This Issue


Learning Resources

General Interest

Current Awareness

New Data

In The News


Encyclopedia of Law and Economics
Conceived by the University of Ghent, Belgium, the Encyclopedia of Law and Economics Website is a broad-based collection of resources pertaining to economic and legal issues throughout the world. Showcasing a comprehensive index of searchable bibliographic resources, this site also includes abstracts of recent law and economics reviews. The hefty Law and Economics Web Resources section features working papers, bibliographies, and mailing lists. In addition, the site links to law and economics academic programs, associations, and an array of relevant Websites. [EM]
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World Income Inequality Database [MS Access]
The Social Development and Poverty Elimination Division of the United Nations Development Programme provide the World Income Inequality Database (WIID) to supply data and information on cross-country and time level series of income inequalities. Data on 149 countries, spanning from 1950 to 1998 have been entered into the database. Users may choose to view WIID on the Web, or they may also download it in Microsoft Access. Also included on-site are general information on WIID, a data selection guide, references, and country sources. [EM]
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Economic Performance and Environmental Quality Information Base [.zip]
The Economic Performance and Environmental Quality Information Base (EPEQ), from the University of Guelph in Ontario, Canada, has two functions. Its main function is that of "a comprehensive data base showing indicators of aggregate economic activity matched with data on a wide variety of environmental quality indicators." EPEQ includes data from each province of Canada, regions of China, and the areas around the Great Lakes, among other world regions. Users may browse individual data sets online, or choose to download EPEQ in its entirety as a .zip file. EPEQ also features an index of links, worldwide, which contain information about different countries's environmental policies. [EM]
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Key Indicators of the Labour Market 1999 (KILM) -- ILO [RealPlayer]
The International Labour Organization (ILO) has created Key Indicators of the Labour Market 1999, or KILM, in order to "develop a set of labour market indicators widen the availability of the indicators to monitor new employment trends." Using information gathered by organizations including the World Bank, ILO, OECD, and UNESCO, KILM contains data spanning eighteen indicators and 200 countries. KILM indicators include Employment-to-Population Ratio, Status in Employment, Part-time Workers, and Hours of Work. Although the Website does not feature an online version of KILM, interested users may order it here. The site, however, does provide working papers, introductions to each of the eighteen indicators, and educational video clips about the ILO and the KILM program. [EM]
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World Economic Forum [RealPlayer]
World Economic Forum is a nonprofit organization dedicated to "economic growth and social progress." The forum is located in Geneva, Switzerland, and its members include those in business, politics, and the academic world. The World Economic Forum Website contains a variety of information about the Forum as well as information about global economics. Latest news is highlighted, with reports from several recent economic summits including photographs and Webcasts. A menu at the top left corner of the site directs users to the rest of the site, including resources about regional networks, reports and publications, and centers and projects. [EM]
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Learning Resources

Analyse Sales Data with Excel Pivot Tables [Excel, MS Word]
Accounting Web's follow-up to David Carter's popular tutorial, Budgeting With Pivot Tables (reviewed in the January 27, 2000 Scout Report for Business and Economics), provides step-by-step instructions on how to "import sales data in a Text file format using the software's Import wizard." This tutorial's instructions are available online, but may also be downloaded in MS Word. In addition, the site features a data file, which provides over 4,000 sales invoice line detail records from accounting packages including Sage, SunAccount, and Pegasus. [EM]
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HBS Working Knowledge
The Harvard Business School's Working Knowledge is a "collection of cutting-edge management information created to help you stay at the forefront of today's fast-changing business environment." Articles written by professors and students of HBS are featured, along with writing from business scholars who are not affiliated with the school. Topics, including Business History, Finance and Investment, and Nonprofits and Social Enterprise, are listed down the right side of the site and contain timely articles, book reviews, and Website recommendations. [EM]
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Center for the Study of Rural America -- FRB Kansas City
The Federal Reserve Bank of Kansas City founded the Center for the Study of Rural America in order to study "the economic and policy issues that are unique to rural America." The site contains a vast collection of articles and studies about the rural areas of the US, as well as Center news, conference information, and basic economic information about rural America. [EM]
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CyberAtlas, published by, is a useful site devoted to Web marketing data and information. It contains up-to-date news briefs on subjects such as Traffic Patterns, Advertising, Geographics, and Hardware, as well as archived articles on these subjects. [EM]
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The eFiles -- EBuzz
EBuzz presents this updated index of the best Websites for information about e-Commerce. The sites are annotated in great detail and include resources from academic, research, and specialized organizations. [EM]
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General Interest

Ad Critic: Super Bowl Ads [QuickTime]
This highly addictive special section of Ad Critic (reviewed in the October 7, 1999 Scout Report for Business and Economics) showcases the best in promotainment. Browse the database of advertisements that ran during Superbowl XXXIV (January 30, 2000) and download the ads in full, in QuickTime format. Truly interactive, Ad Critic allows users to vote for their favorite ads and rate ads. The running results are posted next to the commercials. Also included are reviews and commentary from major consumer news sources and advertising trade publications. [EM]
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Created by Athmatic Media, provides a plentitude of free tax information. The Resources section includes filing information, tax statistics, and both federal and state tax forms. Several utilities allow users to search tax codes, tax cases, and revenue procedures as well as estimate their tax refunds and view interest rate data. Interested users may also subscribe to the newsletter. [EM]
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Economic and Monetary Unions in the Past
Created by the history department at Leiden University in the Netherlands, Economic and Monetary Unions in the Past spans close to 300 years of history, highlighting seventeen economic and monetary unions from the United States 1776-1860 to the EMU. A comprehensive set of semi-annotated links has been prepared for each union, along with a set of symbols that describe and rate each source. [EM]
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Radio Wall Street [RealPlayer]
Radio Wall Street, brought to you by Investor Broadcast Network, offers current financial news for investors. RealAudio files are organized in sections including top stories, technology news, IPOs, and mutual funds. Special sections provide interviews with leading CEOs and investment analysts. Daily features and popular programs are listed at the bottom of the site. [EM]
[Back to Contents] is dedicated to providing investors and professional advisors "with the most comprehensive, current, and objective information available regarding qualified state tuition programs ('529 Plans')." The site offers general information about 529 plans, along with state-by-state information, a host of articles on these plans, and related Websites. [EM]
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Current Awareness
(For links to additional current awareness on tables of contents, abstracts, preprints, new books, data, conferences, etc., visit the The Scout Report for Business & Economics Current Awareness Metapage:

Working Papers

Federal Reserve Board of Governors (FRB BOG) International Finance Discussion Papers [.pdf]
The Equilibrium Degree of Transparency and Control in Monetary Policy
Long Memory in Emerging Market Stock Returns
High Frequency Data, Frequency Domain Inference and Volatility Forecasting

Federal Reserve System [.pdf]:
FRB Boston Working Papers
Monetary Policy, Housing Investment, and Heterogeneous Regional Markets
FRB New York Staff Reports
Compositional Dynamics and the Performance of the U.S. Banking Industry
What Do We Really Know about Trends in Outpatient Medical Expenditures for Children, 1977 to 1987?

FRB St. Louis Economic Working Papers
The Domestic Adjusted Monetary Base

Other Institutions:
National Bureau of Economic Research Working Papers [.pdf]
Fiscal Shocks in an Efficiency Wage Model
Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis
The Elasticity of Taxable Income: Evidence and Implication
Sticky-Price Models of the Business Cycle: Specification and Stability
Geographic Localization of International Technology Diffusion
Sorting and Long-Run Inequality
Is Addiction "Rational"? Theory and Evidence
Youth Smoking in the U.S.: Prices and Policies
The Effects of Urban Concentration on Economic Growth
Wage-Setting Institutions as Industrial Policy

Bank of International Settlements Working Papers
A defence of the expectations theory as a model of US long-term interest rates
What have we learned from recent financial crises and policy responses?
Switching from single to multiple bank lending relationships: determinants and
Sacrifice ratios and the conduct of monetary policy in conditions of low inflation

Organisation for Economic Co-operation and Development Working Papers [.pdf]
The size and role of automatic fiscal stabilisers in the 1990s and beyond$FILE/00071273.PDF
Enhancing environmentally sustainable growth in Finland$FILE/00071368.PDF
Finance and growth: Some theoretical considerations, and a review of the empirical literature$FILE/00071259.PDF

International Monetary Fund Staff Country Reports [.pdf]
Jamaica: Staff Report for the 1999 Article IV Consultation
Republic of Croatia: Staff Report for 1999 Article IV Consultation
Nigeria: Statistical Appendix
Honduras: Statistical Annex
Rwanda: Recent Economic Developments
Lao People's Democratic Republic: Recent Economic Developments
Ghana: Selected Issues
Ghana: Statistical Appendix

Wharton Working Papers [.pdf]
The Wildcard Option in Transacting Mutual-Fund Shares
Transaction-cost Expenditures and the Relative Performance of Mutual Funds
Can Firms Learn to Acquire? Do Markets Notice?

Stockholm School of Economics Working Paper Series in Economics and Finance [.pdf]
Taxing Emerging Stock Markets: A Beneficial Policy? Evidence from the Stockholm Stock Exchange, 1907-1939
Taking Advice from Imperfectly Informed Lobbyists: When to Match Hawks with Hawks
The seasonal KPSS statistic
Wage-setting Institutions as Industrial Policy
One good - two prices
On Forecasting Cointegrated Seasonal Time Series
Two monies, two markets? Variability and the option to segment
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Federal Reserve Board of Governors
The Beige Book
The Beige Book, a summary of commentary on current economic conditions, gives an overview of federal reserve board district reports by district and sector. The January 19, 2000 updates show that economic growth continued to rise during the end of 1999 and the first month of 2000. [EM]

Federal Reserve System:
FRB Chicago Fed Letter [.pdf, 95K]
FRB Dallas Southwest Economy [.pdf, 142K]
FRB New York Second District Highlights [.pdf, 161K]
FRB San Francisco Western Economic Developments [.pdf, 119K]
FRB St. Louis Monetary Trends [.pdf, 1006K]
Fed Letter from FRB Chicago contains the second part of Robert DeYoung's look at "mergers and the changing landscape of commercial banking." "The Unsinkable Texas Economy," "Productivity, the Stock Market and Monetary Policy in the New Economy," and "Trade, WTO and the Environment" are all articles from the January/ February edition of FRB Dallas's Southwest Economy. The February 2000 issue of FRB New York's Second District Highlights consists of the article "Health Insurance Trends Point to an Increase in Uninsured Children in New York and New Jersey." Western Economic Developments, a publication of FRB San Francisco, reports 2.7 percent growth in the economy of the Twelfth District, mainly due to a surge in the retail and wholesale trade sectors. The February 2000 issue of Monetary Trends from FRB St. Louis contains articles and updates on bank credit, interest rates, and measures of expected inflation. [EM]

Federal Deposit Insurance Corporation
Regional Outlook [.pdf]
Providing analysis of regional and national trends of current risk exposure, the fourth quarterly issue of Regional Outlook covers eight regional districts as well as the United States as a whole. [EM]

United States International Trade Commission (USITC)
Industry, Trade, and Technology Review [.pdf, 286K]
The December 1999 issue of Industry, Trade, and Technology Review, from the USITC, contains in-depth reports about the air transport services and WTO trade negotiations. [EM]

Bank for International Settlements (BIS)
BIS Review [.pdf]
Recently released articles and speeches from the BIS Review include the speech given on January 27, 2000 to the Metropolitan Halifax Chamber of Commerce, by Gordon Thiessen, Governor of the Bank of Canada, about Canada's monetary policy. Also included are the remarks of Donald T. Brash, Governor of the Reserve Bank of New Zealand, about the basic needs of economic growth, given to the Canterbury Employers' Chamber of Commerce, on January 28, 2000, in Christchurch, New Zealand. [EM]

American Enterprise Institute for Public Policy Research (AEI)
Russian Outlook
The Winter 2000 edition of Russian Outlook consists of a short article, which considers the December 19, 1999 Russian election. [EM]
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Books and Journals

Baker & Taylor
Baker & Taylor Latest Books in Business -- February 2000
Baker & Taylor Latest Books in Economics -- February 2000
Baker & Taylor lists business and economics books published in February 2000. [EM]

Econbase -- Elsevier
The abstracts, tables of contents, and in some cases, full-texts, for over 60 journals are now available online, including the following: Journal of Financial Markets (Vol 2, No 4), Structural Change and Economic Dynamics (Vol 10, No 3-4), Journal of Socio-Economics (Vol 28, No 5), Accounting, Organizations and Society (Vol 25, No 2), Global Finance Journal (Vol 10, No 1), Journal of Economics and Business (Vol 52, No 1-2), and Pacific-Basin Finance Journal (Vol 7, No 3-4). [EM]
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Inomics Conference Calls:
Email Conference Alert
Conference Search
The economics research service Inomics (described in the June 18, 1998 Scout Report for Business & Economics) includes a conference alert service. Interested parties may specify their interests and receive email notifications of up-coming events, or they may search the Inomics conference database by date, geographic location, or JEL classification. [EM]

Conferences with Econometric Interest
The Royal Economics Society's Econometrics Journal site lists conferences in econometrics at this Econometric Links section. Forthcoming international conferences currently listed include the Conference on Seasonability in Economic and Financial Variables, which will be in Faro, Portugal, October 6-7, 2000. Also, November 5-8, in San Antonio, TX, the Institute for Operations Research and the Management Sciences (INFORMS) will be holding its first general meeting. [EM]

Association for Cultural Economics International
Minneapolis, Minnesota
May 28-31, 2000
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Job Openings from The Chronicle of Higher Education
Job Openings in Economics
Job Openings in Business and Management

Job Openings for Economists (JOE)

Inomics: Job Openings for Economists
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New Data

"New One-Family Homes Sold, November 1999" -- Census Bureau [.pdf, 116K]
While the mean sales price of houses sold in November 1999 was $209,700, the average sales price of new houses sold in November 1999 was slightly lower, at $167,400. There were 848,000 houses sold during this time period, up 23,000 from November 1998. [EM]
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Gross Domestic Product: Fourth Quarter 1999 -- Bureau of Economic Analysis (BEA) [.pdf, 58K]
A news release from the BEA reports that, in the fourth quarter of 1999, real gross domestic product continued to increase at an annual rate of 5.8 percent. Factors contributing to the rise included increases in personal consumption expenditures, government spending, inventory investment, and exports. [EM]
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"The Employment Situation: January 2000" -- Bureau of Labor Statistics (BLS) [.pdf, 131K]
Released on February 4, 2000, "The Employment Situation: January 2000" notes that employment rose while unemployment numbers remained steady at 4.0 percent. Total employment grew to 135.2 million, with a record employment increase of 0.4 percent. [EM]
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United States Department of Agriculture (USDA)
2000 Agency Reports/ Schedule
USDA summarizes its report releases from various sources (the Economic Research Service, the National Agricultural Statistics Service, the Foreign Agricultural Service, and the World Agricultural Outlook Board) at this calendar site. Notable data for February 2000 include the Export Sales Report, World Agriculture Supply and Demand, and Poultry Slaughter. [EM]
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Annual Electric Generator -- Nonutility (Form EIA-860B Database) -- Energy Information Administration (EIA) [.zip, DBF]
This database of existing nonutility information may be searched by state, company, unit ID, generator nameplate capacity, and year of commercial operation, as well as by other fields. [EM]
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In The News

Rash of Hacker Attacks Knock Out Major Websites
1) "Reno Vows Action" -- ABC News
2) "More Big Web Sites Hit by Hackers" -- Washington Post
3) "Latest Victims" -- San Jose Mercury News
4) "A Flood of Fake Emails" -- BBC [RealPlayer]
5) "A Frenzy of Hacking Attacks" -- Reuters via Wired,1367,34225,00.html
6) "Denial of service hackers take on new targets" --
7) Hacker News Network
8) A Hacker's Glossary
On February 7, 2000, and continuing in the following days, six of the most popular sites on the World Wide Web were brought to a stand-still by a concerted effort of computer hackers. The attack started with Yahoo! on Monday., Ebay,, and were hit on Tuesday, and ZDNet reported that it was the latest victim of the hackers on Wednesday morning. Each of the sites has suffered from what is called a "Denial of Service" (DoS) attack. In a DoS hack, the hacker does not need to gain access to the computer server; instead hackers send a huge volume of fake traffic, which blocks actual users from accessing the site. Yahoo!, for example, was hit with 800 megabytes of data per second, "more than 24 times the normal flow of data." Each of the sites was unable to be accessed by users for several hours. was an unfortunate victim on the day of its IPO. It was, however, able to recover, closing that day at 25-1/8, though it peaked earlier that day at 35-7/16. Although the FBI has been brought in to investigate, this type of attack is very difficult to trace.

ABC News (1) covers the Attorney General's response to the attacks and the FBI's investigations. The Washington Post(2) reports that five of the World Wide Web's most popular sites have were crashed by hackers, and notes that, while there is great speculation, it will be very hard to track down the culprits. A pithy piece from San Jose Mercury News(3) concisely lists the Websites struck by hackers. The BBC (4) provides information specifically on the Yahoo! attack and the effects that the attack had on the site and its users. "A Frenzy of Hacking Attacks" (5) details each of the attacks and the actions taken to restore access to the Websites. (6), one of the sites hit by hackers, explains denial of service attacks and links to related stories and sites. Hacker News Network, a site self-styled as by "the computer underground for the computer underground," (7) keeps users up to date on computer security-related issues, including recent news and security products. The Hackers' Hall of Fame has created this glossary (8) which defines hacker terms from "back door" to "zipper head." [EM]
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