The Scout Report for Business & Economics - May 31, 2001

May 31, 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

New from Internet Scout


Learning Resources

General Interest

Current Awareness

New Data

In The News

New from Internet Scout

The Last Issue of the Scout Report for Business & Economics
The Internet Scout Project is sad to announce that this is the final issue of the Scout Report for Business & Economics, as we have been unable to secure funding to continue publishing our subject-specific reports. The last issue of the Scout Report for Science & Engineering will be June 20. We have, however, no immediate plans to cease publishing our flagship report, the Scout Report. Many thanks to our loyal readers.
If you do not already receive the Scout Report, you can subscribe here:
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SD Online
The European Foundation presents SD Online, a special feature of the Sustainable Development pages. SD Online is a full-text database of the Foundation's resources which "explore specific facets of the sustainability debate and take advantage of the Foundation's research in a variety of areas." Beginning in 1998, the databases have grown to include a Networks database, tools database, as well as databases on SME support initiatives and education and training. Each searchable and browseable database must be accessed separately using the sidebar menu on the right, and each offers a brief explanation of the information within the database, as well as fully cataloged records. [EM]
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Update to the Basel Committee Compendium [.pdf]
On May 23, 2001, the Basel Committee on Banking Supervision, of the Bank of International Settlements, added three publications to Volume One of the Basel Committee Compendium. Originally published in April 1997, the collection of documents has been expanded to express the Committee's recent efforts to strengthen bonds between member-countries of the Committee and non-member countries. The entire Compendium is online in full-text and is linked at the bottom of this Webpage. [EM]
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Documents from the Committee on World Food Security (27th Session) [MS Word]
The 27th meeting of the Committee on World Food Security will take place in Rome from May 28, 2001 to June 1, 2001. For those of us unable to attend the conference, the Food and Agriculture Association of the United Nations has posted documents for this event online. The documents are available in both HTML and MicroSoft Word and offer insight into topics including the impact of AIDS/HIV on food security, last year's Committee meeting topic: "Application of Appropriate Agricultural Technology and Practices and their Impact on Food Security and the Eradication of Poverty: Lessons Learned from Selected Community-based Experiences," and the impact of political will and the fight against hunger. All papers are manageable in length and are available in Spanish, French, Arabic, Chinese, as well as in English. [EM]
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RiskLab [PostScript, .gzip, .pdf]
Founded in 1994, RiskLab is a Swiss "inter-university research institute, concentrating on precompetitive, applied research in the general area of (integrated) risk management for finance and insurance." Featured on the site is RiskLab's tremendous body of research and writing. From clearly-marked links, users have access to working papers, speech presentations, and projects. Papers are fully cataloged and available in a variety of formats including in full text in PostScript, compressed PostScript, and .pdf, and many of the papers are accompanied by online slide presentations of the work. This site will be valuable to anyone interested in risk management as it pertains to finance and insurance. [EM]
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Civil Rights Center
The Civil Rights Center of the US Department of Labor (DOL) was created to assist the DOL in developing, administering, and enforcing departmental policies, practices, and procedures, as well as US laws detailing the prohibition of discrimination on a variety of levels. The site contains the full-text of all statutes enforced by the Civil Rights Center as well as the Code of Federal Regulations and Unified Agenda of Regulations. The selection of related links offers further information through other governmental sources. [EM]
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Learning Resources

Interactive Index of Economic Freedom
The Heritage Foundation, along with the Wall Street Journal, presents the Interactive Index of Economic Freedom, a tremendous database offering detailed reference information about economic policy for 161 countries. The search feature provides a variety of options for searching the database and organizing the results including sorting the results alphabetically or by rank. Along with a simple search, users can search by country or region and compare that with another region, or sort by policy factors including fiscal burden, banking, black market, and trade policy. Six years of past scores are also available here. The results are presented in an easy-to-read list with comparable features and scores, as well as a detailed snapshot overview of economic information for each of the countries. This useful database will be of great value to those interested in country-to-country comparisons of economic policy. [EM]
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Electronic Commerce Institute
The Board of Trade of Metropolitan Montreal created the Electronic Commerce Institute (ECI) in 1990 in order to promote and foster the growth of ecommerce applications within the Montreal business community. The ECI Website offers basic information about the Institute and about its courses, events, and services. Users outside of the metropolitan Montreal area will probably be most interested in ECI's large collection of online resources, which is listed under Resources on the menu bar. Along with an excellent ecommerce guide for small businesses, Web reference resources and a suppliers directory are provided. Users should be aware that several sections and links are in French. [EM]
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Online Small Business Workshop
Created and maintained by the Canada Business Service Centres, the Online Small Business Workshop is a highly-detailed and thorough online course on arming new business owners with the tools they need to start a new business. The class is broken down into five lessons. The course begins with "Starting with a Good Idea" and walks users through the rest of the steps ending with "Basic Regulations for Getting Started" including taxes, incorporation, and even a start-up checklist. The Online Small Business Workshop offers an enormous amount of information, and it is best digested in smaller sessions rather than all at once. [EM]
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The Next Big Thing
The Next Big Thing (TNBT) is a full service online sources for news, information, and resources for those struggling to figure out how to do business in the New Economy. TNBT tries to view the New Economy through the "Big Picture" by helping users "understand how to learn from the successes and failures of the new economy's muscular Amazons and tiny bootstrappers." Along with daily news and top stories, TNBT also offers enlightening interviews with founders and CEOs from such companies as Lycos and Handspring. The Features section of the site contains advice, tools, and articles to help promote growth in burgeoning new businesses including strategy, marketing, customer service, and operations. Moderated message boards will help interested users interact with other TNBTers. [EM]
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INSEAD Knowledge
Touted as "your portal to today's most prominent business," INSEAD Knowledge is a publication of INSEAD business school, which is based in France with campuses in Europe and Asia. INSEAD Knowledge prides itself on its easy-to-use format including simple, intuitive navigation, quick-reading abstracts of working papers and case studies, professors' insights into a variety of business-related issues, and in-depth examinations of business research. Along the left side of the Website, users will find eighteen themes including globalization, Asia focus, corporate development, and marketing. Each theme links to a variety of articles and related research sites. Users must complete the short free registration in order to view the full text of articles. [EM]
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General Interest

Publishing Your Own E-Mail Newsletter --,,AGD1_GDE96,00.html
The newest guide from offers step-by-step instructions for publishing an email newsletter. This series of articles leads users through the process "from conceptualizing your newsletter to formatting it and delivering it to subscribers." Each of the articles also links to other articles from the archives, thus creating an extensive manual for enewsletter creation. By the end of guide, users will have a clear understanding as to the steps they need to take in order to create a successful email newsletter. [EM]
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Money: What it is and how it works
Created by William F. Hummel, a retired jack-of-all-trades, Money: What is and how it works offers the author's advice on a vast array of issues dealing with money and US monetary policy. Well-written and easy-to-understand, this collection provides information on the basics of understanding money, as well as some more advanced concepts, and monetary policy issues. Hummel has also included articles from famous economists on topics including creditary economics, inflation, and the money market. Be sure to investigate the Ode to Money section, which offers poems about money from Hummel and others. [EM]
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From Coop America, is an informative site offering news, information, and resources for understanding the exploitative nature of sweatshops around the world and how users can help shut them down. Along with traditional sweatshops, the site also addresses migrant workers and the difficulties these workers have when they try to form unions. suggests ways in which people can get involved in anti-sweatshop activities, from boycotting stores to leafletting. This is a top-notch beginner's handbook for understanding the economics of sweatshops around the world. [EM]
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Commodity Fetish Times
This Website offers a wry and accessible look at Marxist theory, especially Marx' theory of commodity as spectacle. The site is dressed up with images of Betty Boop and puckering lips. However, its breakdown of Marxist theory is actually quite clear and easy-to-understand. Commodity Fetish Times (CFT) also includes updates and watches transnational corporate globalization and worker resistance. CFT provides several helpful links pages to Marxist theory, works councils, and globalization. The site was created in 1997, the year of the dancing, animated gif, so it tends to be a little slow to load. Nonetheless, for those looking for an introduction to commodity and Marxism, Commodity Fetish Times will be a good place to start. [EM]
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Family Life and Work Experience before 1918: An oral history research project
This site from Qualidata, the ESRC Qualitative Data Archival Resource Centre of University of Essex in the United Kingdom, provides the methodology used, as well as samples of the work, from Family Life and Work Experience before 1918, the first national oral history study in Britain which was performed from 1970 to 1973. The site for the project includes samples of the occupation and geographical classifications used in the study, the original interview schedule, and the transcripts, summary sheet, and index card for a sample interview with "Emmie Durham." The site is accompanied by an extensive bibliography on oral history methodology. [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 Finance and Economic Discussion Series
Does Stock Market Wealth Matter for Consumption?

Federal Reserve System: [.pdf]
FRB Boston Working Papers
State User Costs of Capital

FRB Cleveland Economic Working Papers
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Maximum Likelihood in the Frequency Domain: The Importance of Time-to-Plan
Efficient Investment in Children
Marriage and Consumption Insurance: What's Love Got to Do with It?
Coalitions, Power, and the FOMC

FRB Richmond Working Papers
The Case for Price Stability

Other Institutions:
Organisation for Economic Co-operation and Development
How should Norway respond to ageing?
How will ageing affect Finland?
Sectoral regulatory reforms in Italy: framework and implications
Encouraging environmentally sustainable growth: experience in OECD countries
Increasing simplicity, neutrality and sustainability: a basis for tax reform in Iceland

Bank of International Settlements Papers
Market liquidity: proceedings of a workshop held at the BIS
Marrying the macro- and micro-prudential dimensions of financial stability

International Monetary Fund Working Papers
Financial Reforms in Sudan - Streamlining Bank Intermediation
Indonesia-Anatomy of a Banking Crisis - Two Years of Living Dangerously - 1997-99
Securities Transaction Taxes and Financial Markets
High Inflation and Real Wages
Currency Crises and the Real Economy-The Role of Banks
The Fall and Recovery of the Cuban Economy in the 1990s-Mirage or Reality
Financial Sustainability and Reform Options for the Albanian Pension Fund
How Do Countries Choose Their Exchange Rate Regime?
Comparing Projections and Outcomes of IMF-Supported Programs
Inflation and Financial Depth
Measures to Limit the Offshore Use of Currencies-Pros and Cons
How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine

Berkeley Roundtable on the International Economy Working Papers
The Internet and E-commerce Development in Mexico

Wharton Financial Institutions Center Working Papers
Risk Management in an Age of Change
Vertical Scope Revisited: Transaction Costs vs Capabilities & Profit Opportunities in Mortgage Banking
Revisiting Vertical Scope: Capabilities, Integration and Profitability in the Mortgage Banking Industry
Comparative Financial Systems: A Survey
Bank Consolidation and Consumer Loan Interest Rates
Estimating Switching Costs and Oligopolistic Behavior
A Theory of Transactions Privacy
Personal Bankruptcy and the Level of Entrepreneurial Activity
Consumer Response to Changes in Credit Supply: Evidence from Credit Card Data

National Bureau of Economic Research Working Papers
A Cure Worse Than the Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs
How Often are Propositions on the Effects of Customs Unions Theoretical Curiosa and When Should They Guide Policy?
The Role of Large Players in Currency Crises
Can the Market Add and Subtract? Mispricing in Tech Stock Carve-Outs
A Century of Missing Trade?
Affiliation, Integration, and Information: Ownership Incentives and Industry Structure
Foreign Direct Investment and Wages in Indonesian Manufacturing

Stockholm School of Economics Working Paper Series in Economics and Finance
A New Approach to the Derivation of Asset Price Bounds
Monetary Policy and Bond Option Pricing in an Analytical RBC Model
On the Relationship between Innovation and Performance: A Sensitivity Analysis
The Valuation of Corporate Liabilities: Theory and Tests
The Effects on Sick Leave of Changes in the Sickness Insurance System
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Federal Reserve Board of Governors
Federal Reserve System Beige Book
May 3, 2001 Update
The Beige Book, a summary of commentary on current economic conditions, gives an overview of federal reserve board district reports by district and sector. According to this month's update, the majority of districts report moderate to strong economic growth. [EM]

Federal Reserve System:
FRB Boston [.pdf]
New England Economic Review
January/ February 2001
The January/ February 2001 issue of New England Economic Review includes abstracts and full text of the following articles: "The Evolution of Monetary Policy and the Federal Reserve System Over the Past Thirty Years: An Overview," "Migration of Recent College Graduates: Evidence from the National Longitudinal Survey of Youth," and "An Evaluation of Recent Macroeconomic Forecast Errors." [EM]

FRB Chicago
Economic Perspectives
Second Quarter 2001
The Second Quarter 2001 edition of Economic Perspectives includes research on the reviving of large midwestern cities, the economics of information, and competition among banks. [EM]

FRB Cleveland
Economic Trends
May 2001
Published each month, Economic Trends offers a snapshot of regional, national, and international trends. This month it reports on inflation, labor markets, and the 2000 Census. [EM]

FRB Dallas
Southwest Economy
May/ June 2001
The May/ June issue of Southwest Economy contains the following articles: "California's Electricity Woes: A Vision of the Future?" "Banks as Real Estate Brokers - Letting Free Enterprise Work," and "Currency Board and Market Intervention in Hong Kong." [EM]

FRB Minneapolis [.pdf]
Quarterly Review
Winter 2001
Two articles, "Are Phillips Curves Useful for Forecasting Inflation?" and "Thoughts on the Fed's Role in the Payments System," are featured in the current issue of Quarterly Review from FRB Minneapolis. [EM]

FRB St. Louis [.pdf]
International Economic Trends
May 2001
International Economic Trends is a quarterly publication that covers basic economic indicators for Canada, France, Germany, Italy, Japan, the UK, and the US. Along with long term and short term overviews, International Economic Trends provides information on financial markets, production, and labor. [EM]

United States International Trade Commission
International Economic Review
March/April 2001
The bimonthly International Economic Review from the USITC's Office of Economics offers articles on Mexican sugar, North American lumber, and the effects of foreign direct investment on the US economy. [EM]

International Monetary Fund
Economic Issues
Number 27, 2001
"Tax Policy for Developing Countries," a research article by Vito Tanzi and Howell Zee, is featured in the current issue of Economic Issues, a series from the IMF which offers economic research on a vast variety of topics. [EM]

Bank for International Settlements (BIS)
BIS Review [.pdf]
Recently released articles and speeches from the BIS Review include the opening statements to the House of Representatives Standing Committee on Economics, Finance and Public Administration given by IJ Macfarlane, Governor of the Reserve Bank of Australia; a speech by First Deputy Governor of the Sveriges Riksbank Lars Heikensten on clarity and flexibility; and Member of the Executive Board of the European Central Bank, Otmar Issing's speech at the Second Vienna Globalization Symposium, on the European Monetary Union in a globalized world. [EM]

American Enterprise Institute for Public Policy Research
Economic Review
May 2001
John H Makin's "Why the Dollar Is Strong" is featured in the May 2001 issue of Economic Review from the AEI. [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: North American Journal of Economics and Finance (Vol 12, No 1), Emerging Markets Review (Vol 1, No 3), Journal of Development Economics (Vol 65, No 1), Accounting, Organizations and Society (Vol 26, Nos 4-5), China Economic Review (Vol 11, No 4), and Carnegie-Rochester Conference Series on Public Policy (Vol 52, No 1). [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 North American Winter Meeting Econometric Society, January 4-6, 2002, in Atlanta, Georgia; Eastern Economic Association (EEA) Annual conference, March 15-17, 2002, in Boston, Massachusetts; and Simposio de analisis economico, December 14-16, 2001, in Allicante, Spain. [EM]

Social Science History Association
November 15-18, 2001
Chicago, Illinois

Annual Meeting of the American Finance Association
January 4-6, 2002
Atlanta, Georgia
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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

Gross Domestic Product, First Quarter 2001 -- Bureau of Economic Analysis (BEA)
According to the Bureau of Economic Analysis' preliminary estimates, the real gross domestic product rose at an annual rate of 1.3 percent during the first quarter of 2001. The real gross domestic product is the "output of goods and services produced by labor and property located in the United States." [EM]
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Consumer Price Index, April 2001 -- Bureau of Labor Statistics
The Bureau of Labor Statistics reported that the April 2001 Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent. This level was 3.3 percent higher than twelve months earlier, in April 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 2001 include the Livestock, Dairy, and Poultry Situation and Outlook Report. [EM]
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State Energy Data Report 1999: Consumption Estimates -- Energy Information Administration
The EIA recently released the State Energy Data Report 1999, a fascinating data roundup of energy use by state. While California was ranked second in total energy consumption, it ranked 49th in per capita consumption. [EM]
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In The News

Germany to Compensate Nazi Slave Laborers
1. "Last Chapter: Berlin to Pay Slave Workers Held by Nazis" -- New York Times (free registration required)
2. "Germany OKs Funds for Nazi Slave Laborers" -- Los Angeles Times
3. "Nazi slave fund passes final hurdle" -- BBC
4. "The battle for my stolen past" -- The London Times,,7-125710,00.html
5. The Profits of Plunder -- special report
6. Nazi Gold -- Frontline
7. Conference on Jewish Material Claims Against Germany
8. In re Holocaust Victim Assets Litigation -- New York Law Journal
9. Lost Art Internet Database
On Wednesday May 30, 2001, German lawmakers voted nearly unanimously to remove the final legal obstacle to free a $4.5 billion fund to begin to compensate over 1.5 million survivors of Nazi slave labor camps. Germany has already paid over $60 billion in restitution to victims of the Nazis, but this is the first time that slave labor has been specifically included. German companies have long admitted they used slave labor during the Nazi regime but insist they did so only because they'd been pressured by the Nazis. However, 6,300 German companies have already pledged contributions to the industry fund drive, which was started three years ago to stave off lawsuits from American firms against some of Germany's biggest manufacturers including Volkswagen, BMW, and Dailmer-Benz for their participation in slave labor in the earlier half of the 20th century. The plan for compensation calls for two categories of slave labor: $6,600 will be given to those forced to work under life-threatening conditions including concentration camps, and $2,200 will be given to the victims who were forced to work under "less onerous conditions." While these payment are seen as a merely symbolic gesture, German Chancellor Gerhard Schroeder explained that the compensation "sends a signal that Germany is fully conscious of the terrible crimes of its past, and will remain so."

The New York Times(1) and the Los Angeles Times(2) offer news articles on the recent events leading up to Wednesday's decision and the reaction of the German government. A news brief from the BBC (3) provides the European perspective on the payment of Nazi slave laborers. "The battle for my stolen past," from The London Times(4), tells the related story of Barbara Principe, a 68-year old great-grandmother claiming that the Nazi, and then the post-war German government stole the fortune of her family's successful department store.'s special report The Profits of Plunder (5) is a series of articles on the ways in which Germany committed "the greatest robbery in history," and Frontline's Nazi Gold (6) offers the complete transcripts of the television documentary on the wealth stolen from victims of the Holocaust, as well as providing related documents, maps, and discussions. The Conference on Jewish Material Claims Against Germany (7) offers news and information on current projects for Holocaust survivors and their families. New York Law Journal's memorandum from the US District Court Eastern District of NY (8) explains the $1.25 billion settlement of the Holocaust Victim Assets Litigation against two large Swiss banks. Finally, the Lost Art Internet Database (9) was created to register "cultural assets that were relocated, transported and, especially with regard to Jewish citizens, confiscated as a result of their persecution during World War II and the Nazi-period." [EM]
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