Theoretical Models Based on a Flowchart Approach to Industrial Cluster Policy

This article examined the issue of whether or not the currency exchange rate, country risk, and cooperate tax rate affect decisions of multinational firms to invest in industrial clusters. First, if the exchange rate between a multinational company in an industry of diminishing returns to scale and a developing country is appreciated, then production in the developing country should increase. Second, if the investment period becomes longer, the currency exchange rate of a multinational company's country should be revalued more in order for it to further invest in the developing country. Third, if the investment period becomes longer, the developing country's risk should become less. Fourth, compensation for the developing country's high risk can be made by lowering its corporate tax rate.

Returns to migration : the role of educational attainment in rural Tanzania

Given the migration premium previously identified in an impact evaluation approach, this paper asks the question of why migration is not more prominent, given such high premium associated with it. Using long-term household panel data drawn from rural Tanzania, Kagera for the period 1991-2004, this study aims to answer this question by exploring the contribution of education in the migration premium. By separating migrants into those that moved out of original villages but remained within Kagera and those who left the region, this study finds that, in consumption, the return on investment in education is higher at both destinations. However, whilst the higher return on education fully explains the gains associated with migration within Kagera, it only partly explains those of external migration. These findings suggest that welfare opportunities are higher at the destination and that an individual's limited investment in education plays a major role in preventing short-distance migration from becoming a significant source of raising welfare, which is not the case for long-distance migration. While education plays a role, it appears that other mechanisms may prohibit rural agents from exploiting the arbitrage opportunity when they migrate to the destination at a great distance from the source.

Using Clouds to Scale Grid Resources: An Economic Model

Infrastructure as a Service clouds are a flexible and fast way to obtain (virtual) resources as demand varies. Grids, on the other hand, are middleware platforms able to combine resources from different administrative domains for task execution. Clouds can be used by grids as providers of devices such as virtual machines, so they only use the resources they need. But this requires grids to be able to decide when to allocate and release those resources. Here we introduce and analyze by simulations an economic mechanism (a) to set resource prices and (b) resolve when to scale resources depending on the users’ demand. This system has a strong emphasis on fairness, so no user hinders the execution of other users’ tasks by getting too many resources. Our simulator is based on the well-known GridSim software for grid simulation, which we expand to simulate infrastructure clouds. The results show how the proposed system can successfully adapt the amount of allocated resources to the demand, while at the same time ensuring that resources are fairly shared among users.

Analysis of linear trade models and relation to scale economies

We discuss linear Ricardo models with a range of parameters. We show that the exact boundary of the region of equilibria of these models is obtained by solving a simple integer programming problem. We show that there is also an exact correspondence between many of the equilibria resulting from families of linear models and the multiple equilibria of economies of scale models.

National policies for technical change: Where are the increasing returns to economic research?

Improvements over the past 30 years in statistical data, analysis, and related theory have strengthened the basis for science and technology policy by confirming the importance of technical change in national economic performance. But two important features of scientific and technological activities in the Organization for Economic Cooperation and Development countries are still not addressed adequately in mainstream economics: (i) the justification of public funding for basic research and (ii) persistent international differences in investment in research and development and related activities. In addition, one major gap is now emerging in our systems of empirical measurement—the development of software technology, especially in the service sector. There are therefore dangers of diminishing returns to the usefulness of economic research, which continues to rely completely on established theory and established statistical sources. Alternative propositions that deserve serious consideration are: (i) the economic usefulness of basic research is in the provision of (mainly tacit) skills rather than codified and applicable information; (ii) in developing and exploiting technological opportunities, institutional competencies are just as important as the incentive structures that they face; and (iii) software technology developed in traditional service sectors may now be a more important locus of technical change than software technology developed in “high-tech” manufacturing.

Are the returns to technological change in health care declining?

Whether the U.S. health care system supports too much technological change—so that new technologies of low value are adopted, or worthwhile technologies become overused—is a controversial question. This paper analyzes the marginal value of technological change for elderly heart attack patients in 1984–1990. It estimates the additional benefits and costs of treatment by hospitals that are likely to adopt new technologies first or use them most intensively. If the overall value of the additional treatments is declining, then the benefits of treatment by such intensive hospitals relative to other hospitals should decline, and the additional costs of treatment by such hospitals should rise. To account for unmeasured changes in patient mix across hospitals that might bias the results, instrumental–variables methods are used to estimate the incremental mortality benefits and costs. The results do not support the view that the returns to technological change are declining. However, the incremental value of treatment by intensive hospitals is low throughout the study period, supporting the view that new technologies are overused.

Individual returns to education in the Spanish tourism sector during the economic crisis

This paper analyses individual returns to education in the Spanish tourism sector. The results, which are robust to different specifications of Mincer earnings regressions, show that the earnings returns to schooling for tourism workers are only half those for all other sectors, and that the difference in returns between these two groups has increased significantly during the economic crisis. This has happened at a time when the earnings range between those with lower and higher qualifications has narrowed in tourism while it has remained stable in other sectors, and when tourism has been capable of retaining most of its workforce while the rest of the economy has experienced a sharp decrease in employment.

Measuring Returns to Education and Human Capital in the Southern Mediterranean. MEDPRO Technical Report No. 17/September 2012

Measuring human capital has been a significant challenge for economists because the main variable of interest is intangible and not directly observable. In the Middle Eastern and Northern African region the task is further complicated by the general scarcity of comparable and reliable data. This study overcomes these challenges by relying on a unique international survey that covers most of the region and by deriving a market-based measure that uses returns to education and various labour market factors as guidance. The results show that private returns to schooling are relatively low in most southern Mediterranean countries (SMC). Israel and Turkey are clear outliers, surpassing even the EU-MED averages. In Algeria and Jordan, the returns are almost flat, implying that earnings do not respond significantly to education levels. Despite high attainment levels, Greece, Spain and Portugal also perform badly; only marginally surpassing some of the bottom-ranked SMC, providing evidence of problems in absorption capacity. The baseline scenarios for 2030 show substantial sensitivity to current estimates on returns to education. In particular, improving attainment levels can produce measurable gains in the future only when the returns to education are already high. Such is the case for Egypt, Morocco and Turkey, which substantially improve their human capital stocks under the baseline scenarios, surpassing several EU-MED countries with little or no room for improvement.

Bicknell's village builder : elevations and plans for cottages, villas, suburban residences, farm houses ... also exterior and interior details for public and private buildings, with approved forms of contracts and specifications ... : Containing fifty-five plates drawn to scale ...

Mode of access: Internet.

Modern architectural designs and details : a monthly publication, giving details of exterior and interior woodwork drawn to scale, gelatine plates of late work by prominent architects, and such other designs and details as are likely to prove useful in the practical work of an architect or builder.

Mode of access: Internet.

The timber-tree improved, or, The best practical methods of improving different lands with proper timber : and those fruit-trees whose woods make the most profitable returns to their owners, according to the newest inventions, by the plough, harrow, and other methods most approved of : in two parts /

Goldsmiths'-Kress no. 08045.

Effect of increased water supply on net returns to dairy farms in Sonsonate, El Salvador /

Contributing department : Economics.