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Law States (law + states)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	75%

Selected Abstracts

The growth of family farms in Hungary

AGRICULTURAL ECONOMICS, Issue 2009
Lajos Zoltán Bakucs
Gibrat's Law; Family farm; Quantile regression; Transition agriculture Abstract The article investigates the validity of Gibrat's Law for Hungarian family farms using FADN data collected between 2001 and 2007. Gibrat's Law states that the growth rate of firms will be independent of their initial size. Regression results allow us to reject Gibrat's Law for all quantiles. Evidence suggests that smaller farms tend to grow faster than larger ones. Results do not support the hypothesis of "disappearing middle" in Hungarian agriculture. We study a number of socio-economic factors that can help to explain farm growth. We find that total subsidies received by a farm and the farm operator's age are the most significant factors correlated with farm growth. [source]

Service Quality in Modern Bureaucracy: Parkinson's Theory at Work

KYKLOS INTERNATIONAL REVIEW OF SOCIAL SCIENCES, Issue 1 2009
Beate Jochimsen
SUMMARY Parkinson's Law states that work expands to fill the time available for its completion and that the number of administrators in an office is bound to increase over time. A unique laboratory to test Parkinson's ideas are vehicle registration offices in Germany. Using their data we found empirical support for Parkinson's Law: First, service quality is no better in offices that have more staff per case. Second, service quality is worse if the service procedure is disaggregated into multiple smaller sub-services. Third, the staff size is a convex function of the number of customers. These results are robust to specifications in various alternative models. [source]

Murray's law and the hydraulic vs mechanical functioning of wood

FUNCTIONAL ECOLOGY, Issue 6 2004
K. A. McCULLOH
Summary 1Murray's law states that the hydraulic conductance per blood volume of the cardiovascular system is maximized when the sum of the vessel radii cubed (, r3) is conserved. 2We hypothesize that Murray's law will apply to xylem conduits as long as they only transport water and do not also help support the plant. Specifically, the less volume of wood occupied by conduits, the more the conduits should conform to Murray's law. 3We tested the applicability of Murray's law along a continuum of decreasing conduit fraction from coniferous (91% conduits) to diffuse-porous (24% conduits) to ring-porous wood (12% conduits), using anatomical and functional tests. The anatomical test compared the , r3 conservation across branch points by direct measurements of conduit radii. The functional test compared the hydraulic conductivity between branches of different ages. 4As predicted, Murray's law was rejected in conifer wood where hydraulic function is coupled to mechanical support. The angiosperm wood did not deviate as strongly from Murray's law, especially the ring-porous type. For comparison we report previously published results from compound leaves and vines which showed general agreement with Murray's law. 5Deviation from Murray's law was associated with fewer, narrower conduits distally causing a decrease in , r3 distally. Although less efficient hydraulically, this configuration is not top-heavy and is more mechanically stable. With the evolution of vessels and fibres, angiosperm wood can more closely approach Murray's law while still meeting mechanical requirements. [source]

TESTING WAGE AND PRICE PHILLIPS CURVES FOR THE UNITED STATES

METROECONOMICA, Issue 4 2007
Peter Flaschel
ABSTRACT This paper demonstrates how the labour and product markets interact in determining as outcome a generalized reduced-form price Phillips curve. For the labour market we consider a wage Phillips curve and for the product market a price Phillips curve. We estimate separately the wage and price Phillips curves for the USA, using ordinary least squares, non-parametric estimation and three-stage least squares techniques. The finding is that wages are always more flexible than prices with respect to their respective demand pressure and that price inflation responds somewhat more to a medium-run cost pressure than does wage inflation. The implications for macroeconomic stability are demonstrated. We also show,as a link between product and labour markets,that employment is related to output as Okun's law states. In comparing linear and non-linear estimates of the wage and price Phillips curves we find furthermore that for some relationships non-linearities are important while not for others. Although overall the non-linear estimates tend to confirm our linear estimates, non-linearities in some relationships of the Phillips curve are important as well. [source]