SOCIAL COST MINIMIZATION: A NATIONAL POLICY APPROACH TO THE PROBLEMS OF DISTRESSED ECONOMIC REGIONS*

This paper makes a distinction between output maximizing and cost minimizing approaches to national economic policy. The paper argues that because the benefits of economic activity and its cost are frequently conferred upon distinct groups in society, it is not automatically true that output maximization is the best strategy, as is presently assumed. This result is especially true when the problems of distressed economic regions are the focus of our concern. The national and multi-national firms which make decisions pertaining to the economic life of local communities make those decisions not on the basis of the costs and benefits to the community, but with regard to their private balance sheet. As a result, it frequently happens that communities of individuals must bear social costs far in excess of the private gains to the firms in question. From a policy standpoint, this is not an efficient use of our social and economic resources. In the absence of any type of comprehensive economic planning a rational market-oriented economic strategy would be one which seeks to minimize social costs.     

A HEDONIC MODEL OF INTERREGIONAL WAGES,RENTS, AND AMENITY VALUES*

ABSTRACT This paper develops a general multimarket hedonic model appropriate for a national, interregional study of wages, housing prices, and location-specific amenities. The model encompasses the effects of interregional location, intraurban location, and city size. Typically, hedonic studies focus on a single market such as labor or housing and ignore interactions implicit in a more global compensation mechanism. Examination of the comparative statics of our model indicates that single-market differentials are partial prices and are unreliable measures of amenity values in an interregional context. Unbiased amenity values are estimated for a comprehensive set of amenities using data on housing prices for 34,414 households and wages for 46,004 workers from the 1980 Census of Population and Housing. Statistically significant differences in housing prices and wages are found due to amenities.     

ESTIMATING THE BENEFITS OF PUBLIC-HOUSING PROGRAMS: A CHARACTERISTICS APPROACH*

ABSTRACT. In this paper we specify a Stone-Geary utility function defined on housing attributes and other goods, empirically estimate the derived system of demand equations, and use the structural parameters to evaluate the benefits and consumption effects of a Belgian public rental housing program. By taking the composition of the bundle of housing attributes provided under the program into account, this study improves upon previous research which–with few exceptions–relies on a composite good, housing services.     

MEASURING THE DEVELOPMENT IMPACT OF A TRANSPORTATION SYSTEM: A SIMPLIFIED APPROACH*

The Multiregional Variable Input-Output (MRVIO) model is introduced to measure the development impact of a transportation system. The MRVIO model is a theoretically flexible, computationally simple, and cost-responsive model. Under the MRVIO model, regional input-output coefficients, trade coefficients, and trade flows become cost responsive and easy to compute. The MRVIO model is employed to measure the development impact of the Arkansas waterway during the period of 1974 to 1978. In the study, the U.S. economy is disaggregated into 3 regions and 35 industrial sectors. The MRVIO model estimates the economic conditions of these 3 regions with and without the waterway in terms of industrial output, income, employment, and trade flows.     

A NON-GAUSSIAN TIME SERIES ANALYSIS OF RURAL RETAIL BUSINESS COUNTS*

ABSTRACT. Determinants of the number of retail firms serving a rural area have been investigated by drawing on demand threshold analysis to analyze cross-sectional data. The relevance of such studies to an individual community may be limited if it is characterized by differential levels or unique types of economic activity. Alternatively, conducting the analysis using time-series data on an individual community may lead to problems associated with non-normal and nonstationary data. These problems are addressed by formulating a state-space model of time-series count data. The discrete, nonnegative nature of count data is accommodated by using a conjugate prior for the Poisson location parameter. A guide function is used to link the prior to the state vector and Bayes rules are used for updating.     

A QUANTITATIVE FABRIC ANALYSIS APPROACH TO THE DISCRIMINATION OF WHITE MARBLES*

Quantitative fabric analysis was applied in order to discriminate better among white marbles from various quarries of archaeological interest. This method provides an effective complementary tool to a characterization based upon petrography, cathodoluminescence microscopy and stable isotopes. Very good discrimination of marbles is achieved with the help of simple variables such as major axis and the shape-specific PARlS-factor. Using quantitative fabric analysis, marbles with similar cathodomicrofacies, as, for example, the Naxian quarries of Apiranthos, Koronos, Flerio and Kinidaros and the quarry of St. Beat (French Pyrenees), can be distinguished from each other. Marbles collected within one quarry may display dissimilar cathodomicrofacies. The common origin of such specimens can be determined with the aid of quantitative fabric analysis, as shown for the quarries of Kinidaros as well as St. Béat.     

PROVENANCE OF THE LIMESTONE USED IN TEOTIHUACAN (MEXICO): A METHODOLOGICAL APPROACH*

This work shows the preliminary results of an international project for the interdisciplinary study of the limestone used in the plasters of the ancient city of Teotihuacan. The limestone provenance was studied using a new approach based on the chemical analysis of the lime lumps that were selected because they represent the composition of the original limestone rock. The results show that the applied methodology was successful and that the limestone used to produce the lime employed to make the floor of the main courtyard at Teopancazco (Teotihuacan), comes from the region near Tula (Hidalgo).     

THE PROVENANCE OF IRON ARTEFACTS FROM MANCHING: A MULTI‐TECHNIQUE APPROACH*

Iron finds from the Celtic oppidum of Manching in southern Bavaria (Germany) are analysed in view of their possible provenance. The exceptional size and the location of Manching are usually attributed to the presence of abundant iron ores in its vicinity. After a review of previous approaches for source determination of iron artefacts, we introduce lead isotope analysis as a new approach. However, only by combining the trace element patterns of slag inclusions and iron metal with lead isotope ratios in the metal is it possible to distinguish various iron ore formations near Manching. As a result, it turns out that, indeed, the most obvious ones—namely, bog ores near the Danube—constituted the main resources for iron production at Manching. It was even possible to select one occurrence as the most likely ore source.