The Scout Report for Business & Economics - November 2, 2000

November 2, 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


How Much Information? [.pdf]
Suffering from information overload? According to this new study from the School of Information Management and Systems at the University of California at Berkeley, "the world's total yearly production of print, film, optical, and magnetic content would require roughly 1.5 billion gigabytes of storage." Magnetic storage is by far the most common medium for storing information, accounting for an estimated 635,660 to 1,693,000 terabytes per year. Print documents only accounted for 0.003 percent of the total yearly production of content. The study is divided into content types, including Internet, magnetic, broadcast, phone, and mail. For each medium, the report offers a detailed chart of information types and the estimated amount of information produced yearly. The report includes a concise introduction and executive summary and links to myriad current articles from reputable publications and agencies. [EM]
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Danish Referendum on Economic and Monetary Union [.pdf]
Published in October 2000, this document from the United Kingdom's House of Commons provides the details of the Danish referendum in which the country voted against joining Europe's common currency. The paper focuses on the country's 1992 arrangement not to proceed with the third stage of Economic and Monetary Union (EMU) until it had been approved by a national referendum, and includes attention to the political campaigns for and against the referendum, public opinion, and the implications of this vote. Just 24 pages in length, this research paper gives an excellent, easy-to-understand overview of the reasons why Denmark's citizens decided to vote against joining the EMU. For more information on the Danish rejection of the Euro, see the September 29, 2000 Scout Report.
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The Economics of Civil War, Crime, and Violence [.pdf]
This project from the World Bank and Development Economics Research Group was created in 1999 as a response to the "devastating economic consequences of violence in developing countries." In the 1990s, 90 percent of all war-related deaths were civilian, as opposed to only 50 percent in the eighteenth century. The violence of worldwide civil wars in the 1990s also created nearly 13 million refugees and 38 million internally displaced persons. Along with detailed information about the motivation and analytical approach behind the project, the site includes brief synopses of three topics: Civil War, Crime and Violence, and Policy Dimensions. Finally, a resource bank presents working papers and presentations, related links, and upcoming events related to this issue. [EM]
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Guide to Sources of Information on Foreign Investment in Spain 1780-1914 [.pdf]
Compiled by Theresa Tortella and sponsored by the International Institute of Social History, Guide to Sources of Information on Foreign Investments in Spain 1780-1914 strives to "provide a better knowledge of archival collections containing records of foreign investment in Spain during the 19th century." Information for this 345-page guide was initially gathered from surveys sent to various archives in several European countries. The guide's in-depth introduction explains the history of this document, as well as the history and importance of foreign investment in Spain during this time period. The main body of the guide is divided into three economically significant time periods, and each includes an alphabetically organized list of companies that invested in Spain, as well as background information on each company. The guide also includes a company name index. [EM]
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Learning Resources

Case Studies in Business Ethics --,,GDE71,00.html
The most recent guide from offers case studies in business ethics and includes coverage of businesses striving to become more environmentally aware, provide community growth, and activate global change. One of the case studies follows Fetzer Vineyards, a California winery committed to reducing its own waste; another describes the way that the Philadelphia restaurant White Dog Cafe donates ten percent of its $4.4 million profit to a variety of nonprofit organizations. The case studies are generally quite short and easy to read; additionally, they link to several online polls that test users's business ethics skills. For more information on Guides @, see the August 10, 2000 Scout Report for Business and Economics. [EM]
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Economics Website
It's never too early for economic literacy. Created and maintained by Jefferson Road Elementary School in Pittsford, NY, the Economics Website is a wonderful introduction to the most basic economic concepts. The site contains fourteen sections, including short lessons on socialism and capitalism, stocks, goods and services, and interdependence. Each lesson includes a small multiple choice quiz on the concepts covered. The Economics Website also contains an economics glossary, links to other economics sites geared towards kids, and an enlightening list of fun economics activities including creating an Economists Hall of Fame, learning about federal income tax, and designing a imaginary company's Website. [EM]
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Export Portal -- US Department of Commerce
Recently launched by the US Department of Commerce, Export Portal offers far-reaching resources about trade and exporting. Featured on the site is an online guide, "Get International Trade Assistance," which provides information and a collection of helpful links on expanding businesses to include trade. The site also includes links to US government Websites dealing with trade and export, which feature statistics, market research, advocacy, and a calendar of events. Finally, the site lists links to the major government agencies that are involved in trade and export. Although Export Portal does not offer much original information, it's extremely helpful to have a government clearinghouse for trade information organized by both agency and topic. [EM]
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China's Churn -- FRB Dallas [.pdf]
China's Churn, a 20-page article from the Federal Reserve Bank of Dallas, examines China's changing economy, or its churn, which is defined as "creative destruction." Filled with photographs, this easy-to-read piece thoughtfully illustrates China's changing economy with case studies of several Chinese cities including Guiyang, Wenzhou, and Shanghai. The paper also offers exhibits in which charts and graphs show some of the changes, including The Changing Face of Rural Employment, The Exodus of Urban Workers from State-Owned Enterprises, and Bounty of Market Reform. Be forewarned, although this document is only 20 pages long, it's a whopping 3226K. [EM]
[Back to Contents], from Mayer, Brown, and Pratt, is dedicated to bringing financial securitization information, resources, and tools to the structured finance industry. Featured on the site is's Knowledge Bank, an "information source for basic and sophisticated structured finance concepts, gathering information on a particular topic, [and] catching-up on the latest developments." Areas of interest covered in the Knowledge Bank include Rating Agencies, Transactions, and Accounting. The site also offers industry news, project management advice, and conference and event notification. The links page compiles the Websites of the "major players" in the structured finance industry. Navigating around this busy Website is a little challenging; however, its information on securitization is in-depth and far-reaching. [EM]
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General Interest

Silicon Salley [QuickTime, RealPlayer]
Silicon Salley's main objective "is to become the one-stop resource for all things woman and computer." An interesting celebration of business management and women's studies, Silicon Salley celebrates successful and inventive women in the computer industry with a large collection of interviews and profiles. Featured women include Liz Briggs, CEO of; Annie Wood, President of; and Natasha Zaslove, Director of Marketing of This ambitious site also includes accompanying radio and video interviews, as well as feature stories from women computer geeks and reviews of women-oriented Websites and products. [EM]
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The online counterpart to Worth Magazine,'s newly launched portal targets the wealthiest Americans, specifically, those with investable assets of at least $500,000. Still in its infancy, will focus on three areas: wealth, living, and giving. Wealth offers information and tools for financial management for investors, and Living gives ideas on using expendable income, including resources about entertaining, food and drink, art, and culture. Finally, the Giving section will appeal to the philanthropic nature of the wealthy with resources on charities, givers, and donors. The site also contains a new wire feed relevant to wealth, and daily articles dealing with the three topics of wealth, living, and giving. For most of us, however, provides a portal into how the other half lives. [EM]
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University of Wisconsin Center for Cooperatives (UWCC)
The University of Wisconsin Center for Cooperatives was founded in 1962 through a grant from USAID. According to the Center's mission statement, it strives to "study and promote cooperative action as a means of meeting the economic and social needs of people." Highlighted on the UWCC's Website is the Information about Cooperatives section, which provides basic information and linked articles for over 30 topics including Alternative Energy, Credit Unions/Banks, Women in Cooperatives, and Agriculture. Also worthy of note is the site's Current News About Cooperatives, with news briefs from around the United States, an extensive links page, and a section on Cooperative Principles, Theory, and History. [EM]
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MBA Jungle
Launched in September 2000, MBA Jungle provides news, resources, and information of interest to the Masters of Business Administration student or recent graduate who likes to work hard and play hard. Written by MBAs for MBAs, MBA Jungle's down-to-earth advice on surviving MBA programs includes a manual for the entire B-school experience, such as this advice on the social life: "...B-school can often be very similar to freshman year of college, with lots of parties, drinking, and other good times." For graduates, MBA Jungle offers advice on planning, marketing, and resource management, news features, and lifestyle advice including vacation destinations, technological gadgetry, and buying "killer turntables" and home furnishings. A work and lifestyle magazine for MBAs, MBA Jungle offers a lighter look at the working world. [EM]
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The Standard Europe
The European sibling of The Standard,The Standard Europe is a "guide to the expanding and evolving European Internet economy." A straightforward online magazine, the site includes breaking news and analysis from Internet companies throughout Europe, daily opinion pieces, and feature articles. The Research section offers articles on specific companies, human resources, and studies. [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 System: [.pdf]
FRB Atlanta Working Papers
Assessing Simple Policy Rules: A View from a Complete Macro Model

FRB Richmond Working Papers
The Behavior of the Real Rate of Interest Over the Business Cycle

Other Institutions:
Institute for International Economics Working Papers
Strengthening the International Financial Architecture: Where Do We Stand?
Transatlantic Issues in Electronic Commerce

Organisation for Economic Co-operation and Development Working Papers
Inward investment and technical progress in the UK manufacturing sector$FILE/00084406.PDF
Aggregate growth: what have we learned from microeconomic evidence?$FILE/00084403.PDF
Determinants of long-term growth: a Bayesian Averaging of Classical Estimates (BACE) approach$FILE/00084399.PDF
The great reversals: the politics of financial development in the 20th century$FILE/00084395.PDF
Trade and growth: still disagreement about the relationship$FILE/00084393.PDF
Growth effects of education and social capital in the OECD countries$FILE/00084394.PDF
Human capital in growth regressions: how much difference does data quality make?$FILE/00083787.PDF
Summary of an informal workshop on the causes of economic growth$FILE/00084387.PDF

Bank of International Settlements Policy Papers
Managing foreign debt and liquidity risks

International Monetary Fund (IMF) Working Papers
Determinants of Barter in Russia: An Empirical Analysis
Chile's Rapid Growth in the 1990s: Good Policies, Good Luck, or Political Change?
External Capital Structure: Theory and Evidence
Population Aging and Global Capital Flows in a Parallel Universe
Should Subsidized Private Transfers Replace Government Social Insurance?

National Bureau of Economic Research Working Papers
Commercial Policy with Altruistic Voters
The Social Discount Rate
An Economic Analysis of Alcohol, Drugs, and Violent Crime in the National Crime Victimization Survey
Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data
Personal Income Taxes and the Growth of Small Firms
The Health Care Consequences of Smoking and its Regulation
Using Asset Prices to Measure the Cost of Business Cycles
Nonprofit Sector and Part-Time Work: An Analysis of Employer-Employee Matched Data of Child Care Workers
Tax Policy, Venture Capital, and Entrepreneurship
Accounting for Recent Declines in Employment Rates Among the Working-Aged Disabled
Investor Protection and Equity Markets
Moving to Opportunity in Boston: Early Results of a Randomized Mobility Experiment
When Do Research Consortia Work Well and Why? Evidence from Japanese Panel Data
International and Domestic Collateral Constraints in a Model of Emerging Market Crises
Development, Health, Nutrition, and Mortality: The Case of the 'Antebellum Puzzle' in the United States

Wharton Financial Institutions Center
Optimal Bank Regulation and Monetary Policy

Stockholm School of Economics Working Paper Series in Economics and Finance
Outward Investment, Employment and Wages in Swedish Multinationals
Scapegoats and Transparency in Organizations
A Signalling Theory of Scapegoats
Dynamics of Technical Efficiency and Productivity Change under Central Planning: The Romanian Cement Industry 1966-1989
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Federal Reserve Board of Governors [.pdf]
Research Roundup
Third Quarter 2000

Federal Reserve System [.pdf]:
FRB Chicago
Chicago FedLetter
November 2000
Chicago FedLetter contains the article "Structural Change and Cyclicality of the Auto Industry" by Thomas Klier in the November 2000 edition. [EM]

FRB Cleveland
Economic Trends
October 2000
The October 2000 issue of Economic Trends covers the newest trends in labor markets, the federal budget, and cross-generation wealth transfers. [EM]

FRB Dallas
Southwest Economy
September/October 2000
The September/ October 2000 issue of Southwest Economy includes the articles "The New Paradigm in Europe: Is Goldilocks Going Global?" and "A Common Currency for the Americas?" [EM]

FRB Kansas City
Economic Review
Third Quarter, 2000
A quarterly journal consisting of articles by the FRB Kansas City economic research staff, this edition of Economic Review includes articles on global monetary policy. [EM]

FRB New York
Current Issues in Economics and Finance
October 2000
Current Issues in Economics and Finance contains the transcriptions of a speech by Jamie B. Stewart, Jr., First Vice President and Chief Operating Officer of the Federal Reserve Bank of New York, given at Sibos 2000. The speech is entitled "Changing Technology and the Payment System." [EM]

Federal Deposit Insurance Corporation [.pdf]
Survey of Real Estate Trends
July 2000
The FDIC's Survey of Real Estate Trends covers the opinions of 256 senior examiners and asset managers at federal bank and thrift regulatory agencies over a six-month period. According to this issue, general conditions for real estate remained unchanged over the past six months. [EM]

Bank for International Settlements (BIS) [.pdf]
BIS Review
Recently released articles and speeches from the BIS Review include the speech "Thailand -- where we are now and what we are trying to do," by M.R. Chato Mongol Sonakul, Governor of the Bank of Thailand, at the Asia Society Southern California Centre; a speech given by Donald T. Brash to the American Chamber of Commerce, Auckland, New Zealand, on the fall of the New Zealand dollar; and a speech on global Euro markets given by Hermann Remsperger of the Directorate of the Deutsche Bundesbank. [EM]

American Enterprise Institute for Public Policy Research
Economic Outlook
October 2000
The October 2000 issue of Economic Outlook from the AEI consists of the article "Oil: It Could Get Ugly," which looks at the economic impact of the rising price of oil. [EM]
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Books and Journals

BakerBooks -- Harvard Business School
The latest issues of New Books at Baker Library and New Books from HBS Press are now available from Harvard University's BakerBooks site. These updates are posted by the fifteenth of each month and cover new additions for the preceding month. [EM]

National Bureau of Economic Research Books
The National Bureau of Economic Research (NBER) presents its collection of books published in 2000, complete with tables of contents and ordering information. The site also offers chapters from books-in-progress. [EM]

Econbase -- Elsevier
The abstracts, tables of contents, and in some cases full-text, for over 60 journals are now available online, including the following: Journal of Accounting and Economics (Vol. 29, No 1), Resources Policy (Vol 26, No 2), Labour Economics (Vol 7, No 5), Pacific-Basin Finance Journal (Vol 8, No 3-4), World Development (Vol 28, No 11), European Journal of Political Economy (Vol 16, No 3), and Journal of Econometrics (Vol 99, No 2). [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 in its Econometric Links section. Forthcoming international conferences currently listed include the Society of Labor Economists (SOLE) Annual meeting, April 20-21, 2001, in Austin, Texas, and the Royal Economic Society Annual Conference, April 9-12, 2001, in Durham, England. [EM]

Sixth Spring Meeting of Young Economists
March 30 - April 1, 2001
Copenhagen, Denmark

Young Scholars Conference, Unemployment: Causes and Cures
April 2-3, 2001
Berlin, Germany
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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

Personal Income, September 2000 -- Bureau of Economic Analysis (BEA)
In September 2000, personal income increased 1.1 percent, or $90.3 billion. Disposable personal income also rose 1.1 percent, or $77.7 billion. In contrast, August's personal income increased 0.4 percent, and disposable personal income rose only 0.2 percent. [EM]
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Mass Layoffs, September 2000 -- Bureau of Labor Statistics (BLS)
Released on October 31, 2000, the Mass Layoffs report shows 936 mass layoff actions during September 2000. Each of these actions involved at least 50 employees and was measured by the number of new filings for unemployment insurance benefits. [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 November 2000 include the Broiler Hatchery report and the Export Sales report. [EM]
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Emissions of Greenhouse Gases in the United States 1999 -- Energy Information Administration
EIA's annual report on human-caused greenhouse gases in the US shows an annual average increase of 1.1 percent over the past ten years. In 1999, the total emission of greenhouse gases in the US is estimated at 1,833 million metric tons of carbon equivalent, 0.8 percent higher than the estimated level in 1998. [EM]
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In The News

Fined Teen Trader Still Made Half Million from Fraudulent Trading Scheme
1) "Teen Trader Made a Mint Anyway" -- Wired News,1283,39583,00.html
2) "Pump And Dump" -- CBS News/ 60 Minutes,1597,242489-412,00.shtml
3) "SEC Brings Fraud Charges in Internet Manipulation Scheme" -- SEC
4) "Teenage Stock Phenom Agrees To Return Gains" -- Washington Post
5) "10th Grader Charged With Securities Fraud" --
6) "SEC Tells Teen Trader to Pay Up" --,1151,18710,00.html?nl=mg
7) Day Trading --
Last month, fifteen-year-old Jonathan Lebed became the youngest person to be accused of securities fraud by the Securities and Exchange Commission (SEC). The New Jersey high school student paid $285,000 to settle stock manipulation charges relating to eleven trades. However, according to CBS, he made about $800,000 from sixteen trades that were not investigated by the SEC. Lebed, who was a finalist in a CNBC stock-picking contest three years earlier, used a "pump-and-dump" method in which he bought shares of an inexpensive stock, used online stock trading bulletin boards to hype his stock, and then, after the price of the stock rose, sold it at a profit. In its press release on the case, the SEC claimed that Lebed used "multiple fictitious author names for the hundreds of identical messages he posted during each manipulation" mainly to a variety of Yahoo! Finance message boards. Lebed posted that one of his stocks was "the most undervalued stock ever" and would be the "next stock to gain 1000 percent." Although he did not admit or deny the charges brought by the SEC, Lebed repayed the US Treasury his profits, plus $12,174 in interest, bringing the total sum to $285,000. In an interview with 60 Minutes, Lebed stated, "Yes, [I manipulated stocks], but I wasn't doing anything wrong . . . I wasn't posting any kind of false information." However, SEC chairman Arthur Levitt disagreed. "He used fictitious names. He made predictions ... without any foundation," says Levitt, "The purpose ... was not to help investors ... but rather to line his own pockets as soon as he hyped the price of the stock."

Wired News(1) reports that, while Jonathan Lebed paid $285,000 in fines to the Treasury, he actually made about $800,000 his trading practices. CBS News and 60 Minutes (2) offer insight from 60 Minutes's October 22 interview with Lebed. The official press release from the Securities and Exchange Commission (3) gives details on the case and urges online traders to research companies carefully. The Washington Post(4), (5), and (6) all give basic information about Lebed and his trading practices. Finally, Day Trading at (7) offers a comprehensive guide to trading online. [EM]
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The Scout Report for Business & Economics
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The Scout Report for Business & Economics is published every other Thursday by the Internet Scout Project, located in the University of Wisconsin-Madison's Department of Computer Sciences.

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