The Scout Report for Business & Economics - May 3, 2001

May 3, 2001

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

The target audience of the 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


South Asia Network of Economic research Institutes (SANEI) [.pdf]
The South Asia Network of Economic Research Institute was formed in 1998 in order to foster strong networks among economic research institutes in regions of South Asia. Currently, the 40 participating institutes are from countries including India, Nepal, Bangladesh, Sri Lanka, and Pakistan. Along with in-depth information about SANEI's mission, structure, and committee members, the site includes discussion forums and links to a variety of related organizations and publications. Be sure to explore the Research section of the site featuring a comprehensive collection of ongoing and completed studies from member institutes. This well-organized site will be of interest to anyone looking at models of networking organizations as well as those studying the economy of South Asian countries. [EM]
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Decent Work Pilot Programme
New from the International Labour Organization, the Decent Work Pilot Programme was mandated in October 2000 "to develop and test methods to design effective country programmes and policies to promote decent work." Decent work is defined as the ability to "to secure work to sustain themselves and their families in conditions of freedom, equity, security and human dignity," however the ILO allows each country to define what these elements mean in terms of its own relative conditions. The site highlights a small collection of documents from the three initial countries: Denmark, Panama, and the Philippines as well as the Decent Work Pilot Programme's initiatives. Both the Pilot Programme and the Website are quite new, so information tends to be a little scant. In time, however, the Decent Work Pilot Programme promises to add new resources as they are published. [EM]
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Quantitative Impact Study (QIS) -- Bank of International Settlements [Excel]
The Bank of International Settlements is offering information on its Quantitative Impact Study, which will assess "whether the Committee has met its goals with regard to the New Basel Capital Accord" of 1999. The site contains all 37 pages of the questionnaire being sent to international banks along with short explanations of the study's methods and modes. The questionnaire is in Excel format and includes three main chapters covering general information about each bank, details of the standardized approaches to credit risk assessment, and the International Ratings-Based Approach (IRB) taken by each bank. The site also links to a Website on the New Basel Capital Accord, a more risk-sensitive framework than the original Basel Capital Accord which was written in the year previous. [EM]
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Two from World Bank
Rapid Response
PovertyNet -- The World Bank
Rapid Response, a "knowledge resource specializing in policy advice for developing countries," is a new service from the World Bank. Mainly a fee-based service, the Rapid Response service also contains several valuable free resources. The service concentrates on several areas of expertise including investment climates; private participation in a variety of complex sectors such as telecommunications, water, and energy; and output-based aid. By far, the most useful tool offered on this site is Knowledge Resources, the database of papers, reports, case studies and related Websites. The database is searchable by keyword or by topic or resource type. The second Website, Poverty Net, (first mentioned in the March 26, 1999 Scout Report) serves as a directory of the copious reports and data on poverty produced by the World Bank. Data are available here on income poverty and social status broken down by country, region, and sometimes continent. The entire Website may be searched, or materials may be browsed by special topics, including understanding poverty, responding to poverty, voices of the poor, impact evaluation, inequality, poverty and health, social capital, and many more. Users can access .pdf and Word versions of World Bank publications as well as links to a number of World Bank resources. Last summer, the report A Better World for All was featured in the July 7, 2000 Scout Report for Business & Economics. [DC][EM]
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International Energy Outlook 2001 [.pdf]
Announced last week by the Energy Information Administration, the statistical agency of the US Department of Energy, this report details international energy projections through 2020. The report forecasts that worldwide energy consumption will grow 59 percent between 1999 and 2020, much of that in the developing world. From the main page, which offers highlights from the report, users may access forecasts for specific energy sources (natural gas, coal, electricity, etc.) and a link to download the report by chapter in .pdf format. [MD]
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Airport Capacity Benchmark Report 2001 [.pdf, MS Word, Excel]
Released on Wednesday by the FAA (Federal Aviation Administration), this report provides the first capacity benchmarks for 31 of the nation's busiest airports. Capacity benchmarks are defined as "the maximum number of flights an airport can routinely handle in an hour." The report finds, among other things, that at a number of airports so many flights are scheduled that it is simply not possible for all of them to take off and land on time. The worst offender in 2000 was New York LaGuardia, with 15.6 percent of takeoffs or landings delayed, more than twice as many as the second-ranked airport, Chicago O'Hare. Predictably, opinion is divided on the root of the problem, with the airlines blaming an antiquated air traffic control system and too few runways and critics blaming the airlines for over-scheduling at peak travel times. The full text of the 195-page report may be downloaded in .pdf or Word format at the FAA site. [MD]
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Learning Resources

The Top Business Schools -- Career Journal
Career Journal of the Wall Street Journal presents the results of its two-year long survey of corporate recruiters' ratings of MBA programs from around the world. According to their survey, three smaller B-schools, Dartmouth's Tuck School, Carnegie Mellon University's Graduate School of Industrial Administration, and Yale University's School of Management, were rated the top three, displacing the University of Pennsylvania, Stanford, and Harvard. In a series of articles about the findings, the Wall Street Journal also discusses the methodology and rankings, as well as information on the top school. Be sure to view the fascinating moderated discussion of the rankings. [EM]
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OECD reports on World Agricultural Trade [.pdf]
This small collection of Organisation for Economic Co-operation and Development reports is the result of a two-year study of the organization's Agriculture, Food and Fisheries Directorate. In these papers, the OECD attempts to examine the reasons why advanced agriculture policy reforms have not been as effective as previously estimated and suggests areas where further reforms should be enacted. The reports, available in .pdf format, include papers on a wide range of subjects including "the potential impact of full elimination of export subsidies to the relationship of agricultural production to food security, environmental quality, and rural employment -- the so-called multifunctionality of agriculture." [EM]
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This Website is dedicated to the Dividend Discount Model (DDM) which is used to value publicly traded stocks. DDM works by calculating "the present value of the future dividends that a company is expected to pay its shareholders." It also may be used to calculate the expected return implied by the current dividend yield and projected future dividend growth. Along with showcasing the top performers according to these measures, visitors may also use the site to evaluate stocks via DDM by entering the ticker symbol into the dividend calculator. In addition, the site offers a detailed lesson about DDM, major indices, and a collection of "free stocks" which pay for themselves with their own dividends. [EM]
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Export Advantage
The Office of Textiles and Apparel of the US Department of Commerce presents Export Advantage, a wonderfully comprehensive Website on US exporting of textiles and apparel. The information on the site is divided into nine sections. For news and general information, Export Advantage offers a section, General Information, about exporting as well as Hot Issues, a collection of fast facts about exporting to a variety of countries, and links to other resources from the US government and other sources. New to the site is the section on ecommerce, which includes a global overview, information on overseas markets, US government initiatives, and seminar listings. [EM]
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Depreciation 101
Learn the basics of depreciation in just four steps. This tutorial from Best Software offers clear lessons on understanding the fundamentals of depreciation. Each section is broken down into manageable parts, complete with a knowledge quiz at the end. Free registration is required to take the tutorial, and on successful completion, Best Software will email users a certificate of completion. [EM]
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General Interest

The Inner City 100 --,7349,14,00.html
New from and the Initiative for a Competitive Inner City, the Inner City 100 highlights 100 of the fastest growing urban businesses in the US. According to Michael Porter, Harvard Business School professor and founder of the Initiative for a Competitive Inner City, "When we started this, I thought we could reverse a lot of bad policies and bad perceptions that have prevented the inner cities from having a place in the economy. I never dreamed the inner city would become a window onto the future of the economy." Along with the listings, this site contains several articles on a variety of related topics including a story on Ahead Headgear, a hat embroiderer in New Bedford, MA rated number one in the Inner City 100; the Inner City 100 Almanac for information about the businesses that made the survey; as well as an article on comeback markets. [EM]
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CI Success Stories
Feeling confused and frustrated about ways in which companies use competitive intelligence? Fund and Company presents CI Success Stories, an uplifting database of short stories detailing successful competitive intelligence uses in a variety of topics in an array of industries. Highlight a topic and an industry, and CI Success Stories will generate a paragraph-long example of good uses of competitive intelligence. The site also contains a hyperlinked CI dictionary, an impressive Internet intelligence index, and an introspective intelligence system questionnaire. [EM]
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Accounting Terminology Guide
Created and maintained by the New York State Society of CPAs, the Accounting Terminology Guide is an educational tool for financial journalists. The glossary is a very straightforward alphabetized list of financial terms, from "accelerated depreciation" to "zero-coupon bond." Terms within definitions that are also included in the Guide are highlighted in capital letters. In addition, the site contains a brief users' guide and information about the New York State Society of CPAs. [EM]
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iSource [QuickTime]
iSource, the Web presence of the magazine iSource, is dedicated to supply chain solutions. The site features short daily news stories written by the editorial staff along with several in-depth articles. Also included are video archived presentations from the iSource 100 Summit. While the Website serves mainly as a teaser for the print version of the magazine, it does cover important supply chain information. [EM]
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Money 101 Glossary
From the library at, this impressive glossary contains over 2,500 definitions of financial terms. In simple alphabetical order, the glossary offers clear definitions, as well as hyperlinks to other definitions and related terms. Unfortunately, there is no search feature, and the glossary may only be browsed by first letter of the term. [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 International Finance Discussion Papers
Price Level Convergence, Relative Prices, and Inflation in Europe
Border Effects within the NAFTA Countries
Forecast Uncertainty in Economic Modeling
Patience, Persistence, and Welfare Costs of Incomplete Markets in Open Economies

Federal Reserve System:
FRB Minneapolis Working Papers
On the optimality of transparent monetary policy

Other Institutions:
Organisation for Economic Co-operation and Development Working Papers
Options for reforming the tax system in Greece

National Bureau of Economic Research Working Papers
Lending Booms: Latin America and the World
The Impact of Market Rules and Market Structure on the Price Determination Process in the England and Wales Electricity Market
Are the Young Becoming More Disabled?
An Econometric Model of the Yield Curve with Macroeconomic Jump Effects
Does Financial Liberalization Spur Growth?
One Size Fits All? Heckscher-Ohlin Specialization in Global Production
Do We Have A New E-Conomy?
The Value Spread
Differential Mortality in the UK
What Drives Firm-Level Stock Returns?
The Human Capital Century and American Leadership: Virtues of the Past
Union Effects on Health Insurance Provision and Coverage in the United States
What Caused the Crisis of 1839?

International Monetary Fund Working Papers
International Trade in Manufactured Products: A Ricardo-Heckscher-Ohlin Explanation with Monopolistic Competition
Japan: Demographic Shock and Fiscal Sustainability
The Equilibrium Distributions of Value for Risky Stocks and Bonds
PPP and the Balassa Samuelson Effect: The Role of the Distribution Sector
Obstacles to Faster Growth in Transition Economies: The Mongolian Case
Mortgage Market Development, Savings, and Growth
Social Sector Reform in Transition Countries
Monetary Union in West Africa: An Agency of Restraint for Fiscal Policies?

Institute for International Economics Working Paper
IMF Structural Conditionality: How Much is Too Much?
Foreign Direct Investment in China: Effects on Growth and Economic Performance
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Federal Reserve Board of Governors
Senior Loan Officer Opinion Survey on Bank Lending Practices
March 2001
This update to the Senior Loan Officer Opinion Survey on Bank Lending Practices "focused only on changes in the supply of and demand for bank loans to businesses." [EM]

Federal Reserve System:
FRB Boston
Bank Notes
April 2001
Bank Notes, a monthly publication from the Federal Reserve Bank of Boston, reports on a compendium of banking-related news including bank mergers and acquisitions in New England during the past month. [EM]

FRB Kansas City [.pdf]
Economic Review
First Quarter, 2001
Economic Review features an article by the Economic Research staff of the Federal Reserve Bank of Kansas City, "What Are the Benefits of Hosting a Major League Sports Franchise?" by Jordan Rappaport and Chad Wilkerson. [EM]

FRB Minneapolis [.pdf]
Quarterly Review
Fall 2001
"The Declining U.S. Equity Premium" by Ravi Jagannathan, Ellen R. McGrattan, and Anna Scherbina is the main article in the Fall 2001 issue of this quarterly publication from FRB Minneapolis. [EM]

FRB St. Louis [.pdf]
National Economic Trends
April 2001
The April 2001 issue of National Economic Trends from FRB St. Louis features updates and analysis of economic trends including interest rates, consumer spending, and labor markets. [EM]

United States International Trade Commission
Industry, Trade, and Technology Review
March 2001
This issue of Industry, Trade, and Technology Review contains articles on the Central European chemical trade, commercialization of hybrid vehicles, and light metals. [EM]

International Monetary Fund (IMF)
Bank for International Settlements (BIS)
BIS Review [.pdf]
Recently released articles and speeches from the BIS Review include a speech by Ian Macfarlane, Governor of the Reserve Bank of Australia on the economy and monetary policy; Deputy Governor of the Bank of England David Clementi's speech on "risk sensitivity and the New Basel Accord"; and the April 9, 2001 speech on banking sector reform by David Carse, Deputy Chief Executive of the Hong Kong Monetary Authority. [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 Business Venturing (Vol 16, No 3); Economic Systems (Vol 24, No 4); Mathematical Social Sciences (Vol 42, No 1); Structural Change and Economic Dynamics (Vol 12, No 1); and Food Policy (Vol 26, 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 at this Econometric Links section. [EM]

Sustaining Food Security and Managing Natural Resources in Southeast Asia: Challenges for the 21st Century
Chiang Mai, Thailand
January 8-11, 2002

Fourth International Society of Quality of Life Studies (ISQOLS) Conference
Washington DC, USA
November 29-December 1, 2001
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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

Household Debt-Service Burden -- Federal Reserve Board of Governors
The Household Debt-Service Burden records the ratio of household debt payments to disposable income. This most recent table was released on April 9, 2001. [EM]
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Personal Income and Outlays, March 2001 -- Bureau of Economic Analysis
According to the Bureau of Economic Analysis, personal income for March 2001 increased $40.8 billion, or 0.5 percent. Disposable personal income rose $34.0 billion, also an increase of 0.5 percent. [EM]
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Employment Cost Index, March 2001 -- Bureau of Labor Statistics
The Employment Cost Index "measures changes in compensation costs, which include wages, salaries, and employer costs for employee benefits." Released on April 26, 2001, the Employment Cost Index for March 2001 was 152.5, which shows a rise of 4.1 percent from March 2000. [EM]
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United States Department of Agriculture (USDA)
2001 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 May include World Horticultural Trade and Export Opportunities, February 2001 which reported a five percent increase in US exports of horticultural products to all countries from February 2000 to February 2001. [EM]
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In The News

Negotiations Continue Between Writers and Studios
1) "As Talks Continue, Writers' Optimism Over Contract Wanes" -- Los Angeles Times
2) "Writers, studios talk past deadline" -- Boston Globe
3) "No Deal, but Hollywood Execs Join Labor Talks" -- Washington Post
4) "Writers and Studios Take Negotiations to Next Level" -- New York Times (free registration required)
5) "Writers, studios will keep talking" --
6) Negotiations 2001 -- Writers Guild of America
7) 2001 Hollywood Labor Negotiations -- Alliance of Motion Picture and Television Producers
8) "I, Scab" --
9) "Arrested Development" --
Three hours past the 12.01 am contract expiration date on Wednesday May 2, 2001, negotiations between the Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) continued. Along with a pay raise, the 11,500-member WGA demands greater compensation, including residuals for international and cable syndication and when their writing is sold via DVD, the Internet, and home video sales. Producers and studio claim they cannot meet WGA's demand for an average annual raise of three percent over three years, because it would lead other unions in the film industry to demand similar raises. While both parties are working towards a settlement, a writers' strike is a possibility if the negotiations reach an impasse. A walkout would greatly impact the Los Angeles economy and the tens of thousands of Southern Californians employed by the television and film industry. According to a recent study by the city of Los Angeles, the long term cost of a strike could be as much as $6.9 billion. Even the threat of a strike has caused movie studios to delay and cancel productions, causing business slowdowns in all facets of movie production, from catering to make-up design.

Recent coverage from the Los Angeles Times(1) interviews several writers from popular television programs who are affected by the contract negotiations. The Boston Globe(2), Washington Post(3), New York Times(4), and (5) offer basic news and information about developments in the negotiations and possibilities of a walkout. For basic information about the negotiations, both the Writers Guild of America (6) and the Alliance of Motion Picture and Television Producers (7) provide Webpages explaining their perspectives. Finally, recently ran two articles on the possible strike, including an interview with a non-union screenwriter (8) and a day-long diary which demonstrates the effects of a possible strike on a typical workday for Hollywood development executive (9). [EM]
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