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Demand
Kinds of Demand Terms modified by Demand Selected AbstractsCOMPENSATORY RESTORATION IN A RANDOM UTILITY MODEL OF RECREATION DEMANDCONTEMPORARY ECONOMIC POLICY, Issue 4 2010GEORGE R. PARSONS Natural Resource Damage Assessment cases often call for compensation in non-monetary or restoration equivalent terms. In this article, we present an approach that uses a conventional economic model, a travel cost random utility model of site choice, to determine compensatory restoration equivalents for hypothetical beach closures on the Gulf Coast of Texas. Our focus is on closures of beaches on the Padre Island National Seashore and compensation for day-trip users. We identify restoration projects that compensate for beach closures and that have good alignment in terms of compensating those who actually suffer from the closures. (JEL Q26) [source] OUTSOURCING TYPES, RELATIVE WAGES, AND THE DEMAND FOR SKILLED WORKERS: NEW EVIDENCE FROM U.S. MANUFACTURINGECONOMIC INQUIRY, Issue 1 2009AEKAPOL CHONGVILAIVAN Existing studies on the impact of outsourcing on relative wages and the demand for skilled workers mainly focus on aggregate outsourcing, in which imported intermediate inputs are used as a proxy. We depart from the existing studies by focusing on various types of outsourcing based on the six-digit NAICS U.S. manufacturing data. We show that downstream materials and service outsourcing are skill biased, whereas upstream materials outsourcing is not. We also produce other supplementary results pertaining to the impact of technology, different capital inputs on relative wages, and the demand for skilled workers. (JEL C33, F14, F15) [source] THE DEMAND FOR CASINO GAMING WITH SPECIAL REFERENCE TO A SMOKING BANECONOMIC INQUIRY, Issue 2 2008RICHARD THALHEIMER This study adds to the limited literature on the demand for casino gaming. The major focus is on the effect of a statewide smoking ban. A system of slot machine demand equations, one each for the three Delaware racinos (racetrack casinos), was developed. The number of slot machines at a racino, at competing in-state racinos, and income were significant demand determinants. Competing out-of-state gaming venues had insignificant effects on gaming demand over the study period. The smoking ban had a significant negative impact on demand, which was not significantly different across the three racinos. The smoking ban reduced gaming demand 15.9%. (JEL L83) [source] IS STATUS QUO BIAS CONSISTENT WITH DOWNWARD-SLOPING DEMAND?ECONOMIC INQUIRY, Issue 2 2008DONALD WITTMAN We show that status quo bias combined with downward-sloping demand implies addictive behavior. This result does not depend on transitivity, a complete ordering, or even the existence of a preference relation that rationalizes choices. (JEL D11, D81) [source] Assessment and management of hypertension in patients with type 2 diabetesINTERNAL MEDICINE JOURNAL, Issue 3 2009M. C. Thomas Abstract Background:, Hypertension is a major risk factor for adverse outcomes in type 2 diabetes and an important target for intervention. Despite this, the management of blood pressure (BP) remains suboptimal, particularly in patients at increased risk for cardiovascular and chronic kidney disease. The aim of this study was to estimate the frequency of hypertension and its management in consecutive clinic-based samples of patients with type 2 diabetes in Australian primary care. Methods:, BP levels and antihypertensive management strategies were compared in patients with type 2 diabetes recruited as part of the Developing Education on Microalbuminuria for Awareness of reNal and cardiovascular risk in Diabetes (DEMAND) study in 2003 (n = 1831) and the National Evaluation of the Frequency of Renal impairment cO-existing with Non-insulin-dependent diabetes (NEFRON) study in 2005 (n = 3893). Systolic BP levels and the use of antihypertensive therapies were examined in patients with and without chronic kidney disease. Results:, The patient characteristics in both studies were similar in that more than 80% of patients in both studies were hypertensive. Systolic BP targets of ,130 mmHg were achieved in approximately half of all treated patients in both studies. However, the use of antihypertensive therapy either alone or in combination increased from 70.4% in DEMAND to 79.5% in NEFRON 2 years later (P < 0.001). Despite this, antihypertensive therapy continued to be underutilized in high-risk groups, including in those with established chronic kidney disease. Conclusion:, The DEMAND and NEFRON studies both show that BP control is achievable in Australian general practice, with more than half of all patients seeing their general practitioners achieving a target systolic BP ,130 mmHg. However, more needs to be done to further reduce BP levels, particularly in patients at high risk of adverse outcomes. [source] THE DEMAND FOR BEER, WINE AND SPIRITS: A SURVEY OF THE LITERATUREJOURNAL OF ECONOMIC SURVEYS, Issue 3 2010James Fogarty Abstract The demand for alcohol literature is vast and much conflicting information about the nature of the demand for alcoholic beverages has been published. This paper presents a survey of the literature, and then uses the technique of meta-regression analysis to establish insights into the nature of the demand for beer, wine and spirits. Unlike previous meta-studies of the demand for alcoholic beverages this study adjusts for the precision of each elasticity estimate. The analysis presented suggests reported elasticity estimates will be influenced by such factors as estimation technique, data frequency and time period under consideration. With respect to time, the findings suggest that the demand for alcoholic beverages has become less inelastic since the mid-1950s and that the income elasticity has been falling since the mid-1960s. The analysis also found support for the idea that alcohol as a commodity group is a necessity, and that consumers respond to price discounting with inventory behaviour rather than true substitution behaviour. Little support is found for the idea that the demand for alcoholic beverages varies fundamentally across most countries, although wine may be an exception. [source] LOCATION-SPECIFIC HUMAN CAPITAL, LOCATION CHOICE AND AMENITY DEMAND,JOURNAL OF REGIONAL SCIENCE, Issue 5 2009Douglas J. Krupka ABSTRACT The role of amenities in the flow of migrants has long been a subject of debate. This paper advances an original model of amenities that work through household production instead of directly through utility. Area characteristics (amenities) affect household production, causing certain kinds of human capital investments to be rewarded more than others. Area heterogeneity thus makes such investments location-specific. This specificity,along with a period of exogenous location,increases the opportunity costs of moving, diminishes migration flows between dissimilar locations and increases valuation of amenities that were present in the originating area. These theoretical results emphasize people's sorting across areas and thus differ from the results of the standard model of compensating differentials. Empirical tests of the model's predictions using NLSY79 data show that childhood investments affect migration flows in the way proposed by the model. [source] THE EFFECTS OF TRADE WITH DEVELOPING COUNTRIES ON THE REGIONAL DEMAND FOR SKILL IN THE U.S.: EVIDENCE FROM COUNTY DATA,JOURNAL OF REGIONAL SCIENCE, Issue 3 2009Ivan T. Kandilov ABSTRACT Using county-level data from the 1980s and 1990s and a county-level trade measure that incorporates the county's industrial mix and patterns of international trade across industries, I provide new evidence that trade with developing countries raises the demand for skill and the skill premium in the U.S. Consistent with Heckscher,Ohlin, I find that trade driven by differences in factor endowments has an economically significant impact on local labor markets. The evidence suggests that when trade with developing countries rises, counties with higher skill endowment and greater employment in industries with larger trade shares experience greater relative demand for high-skilled labor. [source] SEDIMENT OXYGEN DEMAND IN THE ARROYO COLORADO RIVER,JOURNAL OF THE AMERICAN WATER RESOURCES ASSOCIATION, Issue 2 2003Marty D. Matlock ABSTRACT: The lower reaches of the Arroyo Colorado have historically failed to meet their use under subsection 303(b) of the U.S. Clean Water Act due to fecal coliform bacteria and low dissolved oxygen (DO). Fish kills, especially at the tidal confluence at the Port of Harlingen, Texas, have been reported. Oxygen demand from sediment (SOD) for a river typically has two states-diffusion limited SOD (SOD) and potential SOD (pSOD), expressed when sediment is resuspended through increased flow or other disturbances. The objective of this research was to measure SOD in the Arroyo Colorado River in situ, estimate pSOD ex situ, and evaluate the relationship between SOD and the depositional environment. We measured SOD and pSOD in the Arroyo Colorado River at up to eight sites over three sampling events. We identified the sample sites based on a modified Rosgen geomorphic index for streambed stabilization. Sites with high sediment deposition potential had high SOD. The average values of SOD between sites were 0.62 g/m2/day (standard deviation 0.38 g/m2/day) and ranged from 0.13 to 1.2 g/m2/day. Potential SOD values ranged from as low as 19.2 to as high as 2,779 g/m3 sediment/ day. Potential SOD can serve as an indicator of the possible impact of SOD from resuspended sediment in stream systems. [source] LONG RUN DEMAND FOR LABOUR IN THE CONSUMER GOOD INDUSTRYMETROECONOMICA, Issue 2 2006Article first published online: 24 APR 200, Ian Steedman ABSTRACT We consider, for alternative models of production, the comparative statics of constant-returns economies in long run competitive equilibrium, for which reswitching, capital-reversing and consumption-reversal are all completely absent. Notwithstanding the ,well-behaved' nature of these economies, the use of labour per unit of output in the consumer good industry is always positively related to the real wage rate. [source] THE DEMAND FOR A RISKY ASSET: SIGNING, JOINTLY AND SEPARATELY, THE EFFECTS OF THREE DISTRIBUTIONAL SHIFTSMETROECONOMICA, Issue 2 2005Thomas Paulsson ABSTRACT We show that, if an individual's utility function exhibits a degree of relative temperance smaller than one, the individual will react, in a plausible way, to each of three common shifts in the stochastic distribution of his wealth, namely to FSD shifts, mean-preserving spreads and increases in downside risk. First, we derive, in a unified setting, necessary and sufficient conditions for signing the comparative-static effects of each of these shifts separately, and, second, we invoke implications of the property of mixed risk aversion to merge these separate conditions into a single sufficient condition for jointly signing all comparative-static effects. [source] THE VALUE OF SKU RATIONALIZATION IN PRACTICE (THE POOLING EFFECT UNDER SUBOPTIMAL INVENTORY POLICIES AND NONNORMAL DEMAND)PRODUCTION AND OPERATIONS MANAGEMENT, Issue 1 2003JOSÉ A. ALFARO Several approaches to the widely recognized challenge of managing product variety rely on the pooling effect. Pooling can be accomplished through the reduction of the number of products or stock-keeping units (SKUs), through postponement of differentiation, or in other ways. These approaches are well known and becoming widely applied in practice. However, theoretical analyses of the pooling effect assume an optimal inventory policy before pooling and after pooling, and, in most cases, that demand is normally distributed. In this article, we address the effect of nonoptimal inventory policies and the effect of nonnormally distributed demand on the value of pooling. First, we show that there is always a range of current inventory levels within which pooling is better and beyond which optimizing inventory policy is better. We also find that the value of pooling may be negative when the inventory policy in use is suboptimal. Second, we use extensive Monte Carlo simulation to examine the value of pooling for nonnormal demand distributions. We find that the value of pooling varies relatively little across the distributions we used, but that it varies considerably with the concentration of uncertainty. We also find that the ranges within which pooling is preferred over optimizing inventory policy generally are quite wide but vary considerably across distributions. Together, this indicates that the value of pooling under an optimal inventory policy is robust across distributions, but that its sensitivity to suboptimal policies is not. Third, we use a set of real (and highly erratic) demand data to analyze the benefits of pooling under optimal and suboptimal policies and nonnormal demand with a high number of SKUs. With our specific but highly nonnormal demand data, we find that pooling is beneficial and robust to suboptimal policies. Altogether, this study provides deeper theoretical, numerical, and empirical understanding of the value of pooling. [source] THE INFLUENCE OF EXPERT REVIEWS ON CONSUMER DEMAND FOR EXPERIENCE GOODS: A CASE STUDY OF MOVIE CRITICS*THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 1 2005David A. Reinstein An inherent problem in measuring the influence of expert reviews on the demand for experience goods is that a correlation between good reviews and high demand may be spurious, induced by an underlying correlation with unobservable quality signals. Using the timing of the reviews by two popular movie critics, Siskel and Ebert, relative to opening weekend box office revenue, we apply a difference-in-differences approach to circumvent the problem of spurious correlation. After purging the spurious correlation, the measured influence effect is smaller though still detectable. Positive reviews have a particularly large influence on the demand for dramas and narrowly-released movies. [source] DOES INTEREST RATE VOLATILITY AFFECT THE US DEMAND FOR HOUSING?THE MANCHESTER SCHOOL, Issue 4 2010EVIDENCE FROM THE AUTOREGRESSIVE DISTRIBUTED LAG METHOD This paper investigates empirically the effects of real interest rate volatility on demand for total housing and new housing in the USA. The investigation looks at monthly data from 1975 to 2006 using the autoregressive distributed lag bounds testing approach to co-integration and the Hendry ,general-to-specific' causality test. Three different real rates are applied: mortgage, long term and short term. The results indicate a long-run equilibrium relationship between housing demand and its determinants including interest rate volatility. Results from the causality test indicate housing demand determinants (including interest rate volatility) cause demand for both total and new housing in the long run. [source] NON-STATIONARY DEMAND IN A DURABLE GOODS MONOPOLY,THE MANCHESTER SCHOOL, Issue 5 2007JOSÉ M. USATEGUI In a context where demand for the services of a durable good changes over time, and this change may be uncertain, we show in this paper that social welfare may be higher when the monopolist seller can commit to any future price level he wishes than when he cannot. Moreover, the equilibrium under a monopolist with commitment power may Pareto-dominate the equilibrium under a monopolist without commitment ability. These results affect the desired regulation of a durable goods monopolist in this context. [source] ON LABOUR DEMAND AND EQUILIBRIA OF THE FIRM,THE MANCHESTER SCHOOL, Issue 5 2005ROBERT L. VIENNEAU This note considers a linear programming formulation of the problem of the firm. A neoclassical non-increasing labour demand function is derived from the solution of the linear program. Only a set of measure zero on this function, one or two points in the examples examined, provides equilibria of the representative firm. Equilibria of the representative firm are characterized by decisions of its managers that allow the same decisions to be made in successive periods. Hence, one can explain the quantity of labour that firms desire to hire either by a traditional neoclassical labour demand function or by equilibria of the firm, but generally not both. [source] RISK ATTITUDES AND THE DEMAND FOR PRIVATE HEALTH INSURANCE: THE IMPORTANCE OF ,CAPTIVE PREFERENCES'ANNALS OF PUBLIC AND COOPERATIVE ECONOMICS, Issue 4 2009Joan Costa-Font ABSTRACT,:,Captivity to a mainstream public insurer, is hypothesized to constrain the choice of purchasing private health insurance, by influencing risk attitudes. Namely, risk averse individuals are more likely to stay captive to the National Health System (NHS). To empirically test this hypothesis we use a small scale database from Catalonia to explore the determinants of private health insurance (PHI) purchase under different forms of captivity along with a measure of risk attitudes. Our results confirm that the captivity corrections are significant and can potentially bias the estimates of the demand for PHI. Risk aversion increases the probability of an individual being captive to the NHS. The latter suggests a potential behavioural (or cultural) mechanism to isolate the influence of risk attitudes on the demand for PHI in publicly financed health systems. [source] AN EMPIRICAL ANALYSIS OF CHILD CARE DEMAND IN SWITZERLANDANNALS OF PUBLIC AND COOPERATIVE ECONOMICS, Issue 1 2009Silvia Banfi ABSTRACT,:,This paper analyzes the demand of Swiss families for child care facilities. A choice experiment is used to study the effects of the facilities' characteristics as well as socio-economic factors on the selected child care mode. The experimental data are analyzed using a discrete choice model with multinomial logit specification. The results suggest that the demand for extra-familial day care could be considerably higher than that observed from the actual choices constrained by insufficient provision of affordable day care. The price, access, and the quality of service as well as parents' income and education have important impacts on the choice of the mode of care. [source] THOMAS DEMAND, JEFF WALL AND SHERRIE LEVINE: DEFORMING ,PICTURES'ART HISTORY, Issue 5 2009TAMARA TRODD What are we to make of the return of the ,picture' in photography after conceptual art? In this article I engage directly with the lineage provided by Jeff Wall for his own brand of ,pictorialist' photography, and his surprising appropriation of Sherrie Levine to this end. I suggest that Wall's gesture of appropriation and the structure of his own works reveal a more irrational sense of the ,picture' as a force of deformation which may usefully be extended to the work of Thomas Demand. I argue that Demand's work does not support the terms of modernist aesthetics, and in particular, cannot be credibly interpreted as founding photography as a ,medium', as Michael Fried has suggested. Instead I argue that Demand's work presents photography as parasitic and bound in an irrational relationship to sculpture. Neither medium is self-supporting and each is instead ,propped' on the other, forced to cohere by the deforming operations of the ,picture'. [source] GEOGRAPHICAL SPACE AND EFFECTIVE DEMAND UNDER STAGNATIONAUSTRALIAN ECONOMIC PAPERS, Issue 4 2006WATARU JOHDO This paper investigates the adjustment mechanism between geographical space and effective demand under stagnation by constructing a spatial model with stagnation included. The model takes the idea of stagnation in Ono (2001) and combines it with the spatial model of Perera-Tallo (2003). The spatial model features local monopolists that import intermediate goods from other monopolists at a cost that can be decreased through investment. Using the integrated model, we reach the following conclusion: the wider the geographical space, the lower the effective demand under stagnation. This mechanism is explained as follows. Under stagnation, where demand has reached an upper bound, a decrease in the marginal cost of reaching distant intermediate suppliers reduces employment. The reason is ,love of variety' in production: for given final output, more variety of available intermediate inputs crowds out per-variety demand of intermediates and thus employment. Decreases in employment then lead to a decrease in the rate of time preference through a rise in the deflation rate, and thereby decrease the desire for consumption, consequently cutting effective demand. [source] MODELLING DEMAND FOR BROAD MONEY IN AUSTRALIA,AUSTRALIAN ECONOMIC PAPERS, Issue 1 2005ABBAS VALADKHANIArticle first published online: 21 FEB 200 The existence of a valid long-run money demand function is still important for the conduct of monetary policy. It is argued that previous work on the demand for money in Australia has not been very satisfactory in a number of ways. This paper examines the long- and short-run determinants of the demand for broad money employing the Johansen cointegration technique. Using quarterly data for the period 1976:3,2002:2, this paper finds, inter alia, that the demand for broad money is cointegrated with real income, the rate of return on 10-year Treasury bonds, the cash rate and inflation. It appears that a disequilibrium in the demand for money can affect the efficacy of interest rate policy in the long run via its impact on future output growth and output gap. [source] RENAL OXYGEN DELIVERY: MATCHING DELIVERY TO METABOLIC DEMANDCLINICAL AND EXPERIMENTAL PHARMACOLOGY AND PHYSIOLOGY, Issue 10 2006Paul M O'Connor SUMMARY 1The kidneys are second only to the heart in terms of O2 consumption; however, relative to other organs, the kidneys receive a very high blood flow and oxygen extraction in the healthy kidney is low. Despite low arterial,venous O2 extraction, the kidneys are particularly susceptible to hypoxic injury and much interest surrounds the role of renal hypoxia in the development and progression of both acute and chronic renal disease. 2Numerous regulatory mechanisms have been identified that act to maintain renal parenchymal oxygenation within homeostatic limits in the in vivo kidney. However, the processes by which many of these mechanisms act to modulate renal oxygenation and the factors that influence these processes remain poorly understood. 3A number of such mechanisms specific to the kidney are reviewed herein, including the relationship between renal blood flow and O2 consumption, pre- and post-glomerular arterial,venous O2 shunting, tubulovascular cross-talk, the differential control of regional kidney blood flow and the tubuloglomerular feedback mechanism. 4The roles of these mechanisms in the control of renal oxygenation, as well as how dysfunction of these mechanisms may lead to renal hypoxia, are discussed. [source] Tabu Search Strategies for the Public Transportation Network Optimizations with Variable Transit DemandCOMPUTER-AIDED CIVIL AND INFRASTRUCTURE ENGINEERING, Issue 7 2008Wei Fan A multi-objective nonlinear mixed integer model is formulated. Solution methodologies are proposed, which consist of three main components: an initial candidate route set generation procedure (ICRSGP) that generates all feasible routes incorporating practical bus transit industry guidelines; a network analysis procedure (NAP) that decides transit demand matrix, assigns transit trips, determines service frequencies, and computes performance measures; and a Tabu search method (TSM) that combines these two parts, guides the candidate solution generation process, and selects an optimal set of routes from the huge solution space. Comprehensive tests are conducted and sensitivity analyses are performed. Characteristics analyses are undertaken and solution qualities from different algorithms are compared. Numerical results clearly indicate that the preferred TSM outperforms the genetic algorithm used as a benchmark for the optimal bus transit route network design problem without zone demand aggregation. [source] The Impact of R&D Intensity on Demand for Specialist Auditor Services,CONTEMPORARY ACCOUNTING RESEARCH, Issue 1 2005JAYNE M. GODFREY Abstract The audit fee research literature argues that auditors' costs of developing brand name reputations, including top-tier designation and recognition for industry specialization, are compensated through audit fee premiums. Audited firms reduce agency costs by engaging high-quality auditors who monitor the levels and reporting of discretionary expenditures and accruals. In this study we examine whether specialist auditor choice is associated with a particular discretionary expenditure - research and development (R&D). For a large sample of U.S. companies from a range of industries, we find strong evidence that R&D intensity is positively associated with firms' choices of auditors who specialize in auditing R&D contracts. Additionally, we find that R&D intensive firms tend to appoint top-tier auditors. We use simultaneous equations to control for interrelationships between dependent variables in addition to single-equation ordinary least squares (OLS) and logistic regression models. Our results are particularly strong in tests using samples of small firms whose auditor choice is not constrained by the need to appoint a top-tier auditor to ensure the auditor's financial independence from the client. [source] Coordinated Capacitated Lot-Sizing Problem with Dynamic Demand: A Lagrangian HeuristicDECISION SCIENCES, Issue 1 2004E. Powell Robinson Jr. ABSTRACT Coordinated replenishment problems are common in manufacturing and distribution when a family of items shares a common production line, supplier, or a mode of transportation. In these situations the coordination of shared, and often limited, resources across items is economically attractive. This paper describes a mixed-integer programming formulation and Lagrangian relaxation solution procedure for the single-family coordinated capacitated lot-sizing problem with dynamic demand. The problem extends both the multi-item capacitated dynamic demand lot-sizing problem and the uncapacitated coordinated dynamic demand lot-sizing problem. We provide the results of computational experiments investigating the mathematical properties of the formulation and the performance of the Lagrangian procedures. The results indicate the superiority of the dual-based heuristic over linear programming-based approaches to the problem. The quality of the Lagrangian heuristic solution improved in most instances with increases in problem size. Heuristic solutions averaged 2.52% above optimal. The procedures were applied to an industry test problem yielding a 22.5% reduction in total costs. [source] Characteristics of Medical Surge Capacity Demand for Sudden-impact DisastersACADEMIC EMERGENCY MEDICINE, Issue 11 2006Samuel J. Stratton MD Objectives To describe the characteristics of the demand for medical care during sudden-impact disasters, focusing on local U.S. communities and the initial phases of sudden-impact disasters. Methods Established databases and published reports were used as data sources. Data were obtained to describe the baseline capacity of the U.S. medical system. Information for the initial phases of a sudden-impact disaster was sought to allow for characterization of the length of time before a U.S. community can expect arrival of outside assistance, the expected types of medical surge demands, the expected time for the peak in medical-care demand, and the expected health system access points. Results The earliest that outside assistance arrived for a community subject to a sudden-impact disaster was 24 hours, with a range from 24 to 96 hours. After sudden-impact disasters, 84% to 90% of health care demand was for conditions that were managed on an ambulatory basis. Emergency departments (EDs) were the access point for care, with peak demand time occurring within 24 hours. The U.S. emergency care system was functioning at relatively full capacity on the basis of data collected for the study that showed that annually, 90% of EDs were boarding admitted inpatients, and 75% were diverting ambulances. Conclusions As part of planning for sudden-impact disasters, communities should be expected to sustain medical services for 24 hours, and up to 96, before arrival of external resources. For effective medical surge-capacity response during sudden-impact disasters, there should be a priority for emergency medical care with a focus on ambulatory injuries and illnesses. [source] Financial Innovation and the Transactions Demand for CashECONOMETRICA, Issue 2 2009Fernando Alvarez We document cash management patterns for households that are at odds with the predictions of deterministic inventory models that abstract from precautionary motives. We extend the Baumol,Tobin cash inventory model to a dynamic environment that allows for the possibility of withdrawing cash at random times at a low cost. This modification introduces a precautionary motive for holding cash and naturally captures developments in withdrawal technology, such as the increasing diffusion of bank branches and ATM terminals. We characterize the solution of the model, which qualitatively reproduces several empirical patterns. We estimate the structural parameters using micro data and show that quantitatively the model captures important economic patterns. The estimates are used to quantify the expenditure and interest rate elasticity of money demand, the impact of financial innovation on money demand, the welfare cost of inflation, and the benefit of ATM ownership. [source] The Impact of the Demand for Clinical Productivity on Student Teaching in Academic Emergency DepartmentsACADEMIC EMERGENCY MEDICINE, Issue 12 2004Todd J. Berger MD Objective: Because many emergency medicine (EM) attending physicians believe the time demands of clinical productivity limit their ability to effectively teach medical students in the emergency department (ED), the purpose of this study was to determine if there is an inverse relationship between clinical productivity and teaching evaluations. Methods: The authors conducted a prospective, observational, double-blind study. They asked senior medical students enrolled in their EM clerkship to evaluate each EM attending physician who precepted them at three academic EDs. After each shift, students anonymously evaluated 10 characteristics of clinical teaching by their supervising attending physician. Each attending physician's clinical productivity was measured by calculating their total relative value units per hour (RVUs/hr) during the nine-month study interval. The authors compared the total RVUs/hr for each attending physician to the medians of their teaching evaluation scores at each ED using a Spearman rank correlation test. Results: Seventy of 92 students returned surveys, evaluating 580 shifts taught by 53 EM attending physicians. Each attending physician received an average of 11 evaluations (median score, 5 of 6) and generated a mean of 5.68 RVUs/hr during the study period. The correlation between evaluation median scores and RVUs/hr was ,0.08 (p = 0.44). Conclusions: The authors found no statistically significant relationship between clinical productivity and teaching evaluations. While many EM attending physicians perceive patient care responsibilities to be too time consuming to allow them to be good teachers, the authors found that a subset of our more productive attending physicians are also highly rated teachers. Determining what characteristics distinguish faculty who are both clinically productive and highly rated teachers should help drive objectives for faculty development programs. [source] Austria's Demand for International Reserves and Monetary Disequilibrium: The Case of a Small Open Economy with a Fixed Exchange Rate RegimeECONOMICA, Issue 281 2004Harald Badinger Using a vector error correction approach, I estimate Austria's demand for international reserves over the period 1985:1,1997:4 and test for short-run effects of the disequilibrium on the national monetary market. I find that Austria's long-run reserve demand can be described as a stable function of imports, uncertainty and the opportunity cost of holding reserves with strong economies of scale. The speed of adjustment takes a value of 38 per cent. The results confirm that an excess of money demand (supply) induces an inflow (outflow) of international reserves as postulated by the monetary approach to the balance of payments. [source] The Roots of Entrepreneurship and Labour Demand: Individual Ability and Low Risk AversionECONOMICA, Issue 269 2001C. M. Van Praag This paper develops a model as a means to explain business formation and the labour demand of entrepreneurs. An individual will become an entrepreneur if the expected rewards surpass the wages of employment, and the expected rewards depend on an assessment of individual ability and on risk attitude. Actual ability determines success and hence the demand for wage labour of the firm. In equilibrium these factors govern the distribution of a given workforce over entrepreneurs and employees. The model is fitted to Dutch survey data. The empirical results confirm the importance of both risk-taking and ability for successful entrepreneurship. [source] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||