The Scout Report for Business & Economics - August 27, 1998


The Scout Report for Business & Economics

August 27, 1998

A Publication of the Internet Scout Project
Computer Sciences Department, University of Wisconsin-Madison

The target audience of the new 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
* Research * Current Awareness
* Learning Resources * New Data
* General Interest * In the News
Research
Resources for the Future (RFF)
http://www.rff.org/
Based in Washington DC, Resources for the Future (RFF) is an independent, nonprofit organization devoted to the economic aspects of environmental issues. RFF scholars examine topics such as government regulation, risk, biodiversity, climate, Superfund policy, technology, and outer space in a variety of freely available discussion papers, articles, project summaries, and reports [.pdf]. An archive of the RFF quarterly publication Resource dating back to 1995 [.pdf] is also available in addition to an on-site glossary and list of up-coming seminars. [MW]
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The Centre for Economic Forecasting
http://www.lbs.lon.ac.uk/cef/World_Forecasts/world_forecasts.html
Located at the London Business School, the Centre for Economic Forecasting is a source of forecasts, commentary, and analysis of the UK and other major economies. Site highlights include discussion papers and data stemming from the Centre's flagship publication, Economic Outlook. Visitors can download 1998 Centre Discussion Papers in full-text [.pdf] and view Economic Outlook world forecast summaries of GDP, Inflation, and Current Account Balance figures (1996-2000) via a clickable map. [MW]
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Stockholm Institute of Transition Economics and East European Economies (SITE)
http://www.hhs.se/site/default.htm
The Stockholm Institute of Transition Economics and East European Economies (SITE/stekonomiska Institutet) is an independent research institute at the Stockholm School of Economics. SITE is concerned with the transition from planned to market economies in Eastern Europe and the former Soviet Union. Academic research on-site includes a bibliography of recent working papers (1990-present), with most papers from 1998 available for download [.pdf]. Monthly updates of key indicators discussed in the quarterly SITE publication Russian Economic Trends (RET) are also available [.pdf] in addition to RET subscription information and other discussion channels. [MW]
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Maintaining Prosperity in an Ageing Society--OECD Ageing Working Papers [.pdf]
http://www.oecd.org/subject/ageing/
The Organisation for Economic Co-operation and Development (reviewed in the December 18, 1997 Scout Report for Business & Economics) brings together past and present research on the economics of ageing from a variety of OECD directorates in this new collection of analytical papers entitled, "Maintaining Prosperity in an Ageing Society." Currently, 31 titles are available on topics ranging from retirement decisions in OECD nations to financial markets and pension regulation in the non-OECD world. Users may view the site in French or English, but the majority of papers were originally written in English and may or may not include complete French translations. [MW]
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Learning Resources
The Economic Time Series Page
http://www.economagic.com/
Ted Bos, Department of Economics, University of Alabama, Birmingham, provides this collection of data and charts for over 68,000 series from the Federal Reserve System, the Bank of Canada, and the American Automobile Manufacturer's Association. Commonly requested data, such as Gross National Product in Current Dollars (1959 to present), Real Personal Consumption Expenditures in Chained 1992 Dollars (1959 to present), and Bank Prime Loan Rates (1949 to present), are searchable by keyword with Excel worksheet and GIF chart format options. The list of key acronyms and terms posted on the Help screen and the links to related data make the site even more useful. [MW]
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CAMENA Country Profiles
http://www.ifc.org/camena/country.htm
The International Finance Corporation (reviewed in the November 11, 1997 Scout Report for Business & Economics) established the Central Asia, Middle East, and North Africa Department (CAMENA) in 1990 to support research and investment projects in seventeen Central Asian, Middle Eastern, and North African nations. Socioeconomic data from these efforts are summarized in narrative and numerical form in the CAMENA Country Profiles. These overviews give background social information, key economic ratios, and long-term trends. Annotated links to relevant data from other IFC databases, the US State Department, and the Central Intelligence Agency point users to more information. [MW]
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Notebook on Macroeconometric Models and Literature (Macromoli) [.pdf]
http://www.unibw-hamburg.de/WWEB/math/uebe/modelle/titelseite.html
Goetz Uebe, Professor of Statistics and Quantitative Economics, University of the Federal Armed Forces, Hamburg, Germany, created the Notebook on Macroeconometric Models and Literature (Macromoli) to collect and exchange abstracts of macro models from scholars world-wide. Users may browse entries via an alphabetical list of terms and seek related materials through internal hyperlinks. Documentation of the collection is provided in German or English, and a complete subject index helps researchers find what they need. [MW]
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Electronic Commerce Course Syllabi
http://dossantos.cbpa.louisville.edu/isnet/ecomm/syllabi.htm#syllabi
Brian L. Dos Santos, College of Business & Public Administration, University of Louisville, Louisville, KY, maintains this annotated Web-bibliography of course syllabi on electronic commerce. Recent additions include the Center for High Technology Management course "Riding the Information Superhighway" by Prof. David Jankowski of California State University and "Electronic Commerce and Marketing" by MIT Sloan School of Management Professors Erik Brynjolfsson and John Little. [MW]
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General Interest
Index Funds Online
http://www.indexfundsonline.com/
Matthew Roberts recently released Index Funds Online in response to the lack of index investment fund information on the Internet. Site features include the market performance newsletter Indexing Quarterly, background and definitional information on major US Indexes such as the S&P 500, and a library of new and interesting financial Websites, articles, and book reviews. Links to current index performance figures are also provided as well as a simple site search system and index fund discussion board. [MW]
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Bplans.com Sample Business Plans
http://www.bplans.com/sample.htm
Created by Palo Alto Software, Bplans.com offers this collection of Sample Business Plans to help small and medium-sized businesses reach their financial goals. Exemplary company histories, mission statements, sales objectives, and product descriptions are available in addition to advice on business start ups, marketing, and "Cash v. Profit"--a real-life illustration of typical financial pitfalls. Users may also benefit from an annotated list of business planning links. [MW]
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Deal Consulting
http://www.dealconsulting.com/
Jack Deal created the Deal Consulting Website in 1997 to display his business strategies and provide a forum for business discussion. The resulting product is a lengthy list of articles with financial, operational, and managerial advice and anecdotes. In addition to browsing Deal Consulting opinions, users may subscribe to the Deal mailing list, make comments, or submit their own business world experiences to this ongoing compendium of ideas. [MW]
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Navigating the Health Care System
http://www.eqp.org/
Produced by the Employer Quality Partnership (EQP), Navigating the Health Care System provides advice on health care plans for small business owners, human resource professionals, and employees. Three separate guides give tips on evaluating doctors and care as well as health care types and plan management. Links to EQP affiliates such as The Business Roundtable are also available, and users may download any Navigating the Health Care System guide for further distribution [.pdf]. [MW]
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Current Awareness
(For links to additional current awareness on periodicals, journals, working papers, new books, etc., visit the Business & Economics Current Awareness Metapage: http://scout.cs.wisc.edu/scout/report/bus-econ/metapage/).

Working Papers
A. Federal Reserve System
Federal Reserve Bank of Atlanta Working Papers [.pdf]
"Stochastic Trends and Cointegration in the Market for Equities"--WP98-13
http://www.frbatlanta.org/publica/work_papers/wp98/wp9813.htm
"Time-Varying Volatility in Canadian and U.S. Stock Index and Index Futures
Markets: A Multivariate Analysis"--WP98-14
http://www.frbatlanta.org/publica/work_papers/wp98/wp9814.htm
"Endogenous Market Structures and Financial Development"--WP98-15
http://www.frbatlanta.org/publica/work_papers/wp98/wp9815.htm
"Costly Intermediation and the Big Push"--WP98-16
http://www.frbatlanta.org/publica/work_papers/wp98/wp9816.htm
Federal Reserve Bank of Minneapolis Working Papers [.pdf]
"A Model of Bimetallism"--WP588
http://research.mpls.frb.fed.us/research/wp/wp588.html
"On the Need for Fiscal Constraints in a Monetary Union"--WP589
http://research.mpls.frb.fed.us/research/wp/wp589.html
Federal Reserve Bank of New York Staff Reports [.pdf]
"Soft Exchange Rate Bands and Speculative Attacks: Theory, and Evidence from the ERM Since August 1993"--SR43
http://www.ny.frb.org/rmaghome/staff_rp/sr43.htm

B. Wharton Financial Institutions Center
Working Paper Series [.pdf]
http://fic.wharton.upenn.edu/fic/wfic/papers/98.html
Articles from the August 1998 FRB BOG Federal Reserve Bulletin cover recent changes to the Federal Reserve's quarterly Survey of Terms of Business Lending, and current BOG forecasts for the US economy. The FRB of Boston has released this month's New England Economic Indicators with current and historical economic data for the six states in the first Federal Reserve District. The September 1998 edition of the FRB of Chicago Fed Letter examines the optimistic views expressed by analysts at the fifth Annual Auto Outlook Symposium. FRB of Cleveland's August 1998 edition of Economic Trends also discusses the auto industry in addition to precious metals prices, inflation, and bank conditions in the Fourth District. The Summer 1998 Community Reinvestment newsletter from the Community Affairs Department of the FRB of Kansas City gives insight into how credit works in a small midwestern town. The Volume 4 Number 8 issue of Current Issues in Economics and Finance from the FRB of New York debates the effect of trade liberalization on the use of anti-dumping tariffs in "Free versus Fair Trade: The Dumping Issue." [MW]
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Periodicals
A. Federal Reserve System
Federal Reserve Board of Governors Federal Reserve Bulletin [.pdf]
http://www.worldbank.org/aftdr/findings/english/findtoc.htm
Federal Reserve Bank of Boston New England Economic Indicators [.pdf]
http://www.bos.frb.org/economic/neei/neei.htm
Federal Reserve Bank of Chicago Fed Letter [.pdf]
http://www.frbchi.org/pubs-speech/publications/periodicals/chilet/welcome.html
Federal Reserve Bank of Cleveland Economic Trends [.pdf]
http://www.clev.frb.org/research/Aug98et/index.htm
Federal Reserve Bank of Kansas City Community Reinvestment
http://www.frbkc.org/PUBLICAT/commrein/s98toc.htm
Federal Reserve Bank of New York Current Issues in Economics and Finance [.pdf]
http://www.ny.frb.org/rmaghome/curr_iss/ci4-8.htm
Articles from the August 1998 FRB BOG Federal Reserve Bulletin cover recent changes to the Federal Reserve's quarterly Survey of Terms of Business Lending, and current BOG forecasts for the US economy. The FRB of Boston has released this month's New England Economic Indicators with current and historical economic data for the six states in the first Federal Reserve District. The September 1998 edition of the FRB of Chicago Fed Letter examines the optimistic views expressed by analysts at the fifth Annual Auto Outlook Symposium. FRB of Cleveland's August 1998 edition of Economic Trends also discusses the auto industry in addition to precious metals prices, inflation, and bank conditions in the Fourth District. The Summer 1998 Community Reinvestment newsletter from the Community Affairs Department of the FRB of Kansas City gives insight into how credit works in a small midwestern town. The Volume 4 Number 8 issue of Current Issues in Economics and Finance from the FRB of New York debates the effect of trade liberalization on the use of anti-dumping tariffs in "Free versus Fair Trade: The Dumping Issue." [MW]

B. Other Institutions
American Enterprise Institute for Public Policy Research--AEI
Russian Outlook
http://www.aei.org/ro/ro9464.htm
The Summer 1998 edition of Russian Outlook entitled, "Crisis of Confidence" is available from the American Enterprise Institute for Public Policy Research (AEI). This quarter, resident scholar and the director of Russian Studies at AEI Leon Aron analyzes Russian society in relation to Russian capitalism. [MW]

Bank for International Settlements
BIS Review [.pdf]
http://www.bis.org/review/index.htm
The BIS Review is a collection of important articles and speeches by senior central bankers. This month, Federal Reserve Bank of New York President William J. McDonough discusses the importance of sound financial systems and FRB BOG member Roger W. Ferfuson, Jr. remarks on themes in international bank supervision. [MW]

World Bank
Findings [.pdf]
http://www.worldbank.org/aftdr/findings/english/findtoc.htm
Findings reports on ongoing operational, economic, and sector work carried out by the World Bank and its member governments in the Africa Region. Currently, issues of agricultural extension in Madagascar, drought and Sub-Saharan African economies, and gender issues in Ethiopia are discussed in four Findings articles (Nos. 117-119). [MW]
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Books and Journals
Econbase--Elsevier
http://www.elsevier.nl/locate/econbase/
The abstracts and tables of contents for the following journals are now available online: Ecological Economics (Vol 25 No 3), European Economic Review (Vol 42 No 7), International Journal of Production Economics (Vol 55 No 2), Journal of Financial Economics (Vol 49 No 1), Journal of International Economics (Vol 45 No 2), Journal of International Money and Finance (Vol 17 Nos 1-3), Journal of Monetary Economics (Vol 41 No 3, Vol 42 No 1), Pacific-Basin Finance Journal (Vol 6 Nos 1-3), Structural Change and Economic Dynamics (Vol 9 No 2). [MW]
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Conferences
Equity for Rural America: From Wall Street to Main Street--FRB Kansas City
http://www.frbkc.org/COMAFFRS/Casched.htm
Sponsored by The Federal Reserve Bank of Kansas City, the conference Equity for Rural America: From Wall Street to Main Street will be held October 8-9, 1998 at the Hyatt Regency in Denver, Colorado. Market experts, rural leaders, and policy makers from around the US will examine rural America's access to equity capital. Interested parties are invited to view the conference agenda and register on-site by September 14, 1998. [MW]

Information Technology and the Teaching of Economics
http://www.bentley.edu/itecon/
The Department of Economics, Bentley College, Waltham, MA, will host Information Technology and the Teaching of Economics on Saturday, September 19, 1998. Academic economists are invited to attend and discuss how information technology such as email and the World Wide Web affect classroom performance. Registration information and directions to the Bentley campus are available on-line. [MW]

Electronic Commerce Conference--OECD
http://www.ottawaoecdconference.org/english/brochure/default.html
The Organisation for Economic Co-operation and Development (OECD) and the Government of Canada will hold a ministerial conference on electronic commerce in Ottawa, Canada, October 7-9, 1998. OECD and Canadian officials hope to reach a broad consensus on the economic and social potential of electronic commerce through a discussion of commercial law, the information infrastructure, and consumer protection. A private sector showcase, with demonstrations from around the world, will supplement the conference. Interested parties may view a virtual exhibit of the showcase as well as watch selected proceedings live at the OECD conference site. [MW]
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Jobs
Job Openings from The Chronicle of Higher Education[MW]
Job Openings in Economics
http://thisweek.chronicle.com/.ads/.ads-by-group/.faculty/.sscience/.econ/.links.html
Job Openings in Business and Management
http://thisweek.chronicle.com/.ads/.ads-by-group/.faculty/.professional/.business/.links.html

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New Data
(For links to additional sources of new data see the Business & Economics Current Awareness Metapage: http://scout.cs.wisc.edu/scout/report/bus-econ/metapage/).

Census Bureau
Monthly Wholesale Trade, Sales and Inventories, June 1998 [.pdf]
http://www.census.gov/prod/3/98pubs/bw-9806.pdf
Housing Completions, June 1998 [.pdf]
http://www.census.gov/prod/3/98pubs/c22-9806.pdf
According to the US Department of Commerce Bureau of the Census, June 1998 sales of merchant wholesalers were $214.0 billion, up 0.3 percent from the revised May level and 2.6 percent above the June 1997 level. Total inventories were $277.9 billion, up 4.9 percent from June 1997, and the June 1998 inventories/sales ratio was 1.30, based on seasonally-adjusted data. Housing Completion figures indicate that 663,800 housing units were completed in the first six months of 1998, compared to 648,400 units completed during the same period in 1997. [MW]
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Bureau of Labor Statistics (BLS)
Consumer Price Index, July 1998
http://stats.bls.gov/news.release/cpi.toc.htm
Producer Price Index, July 1998
http://stats.bls.gov/ppihome.htm
Real Earnings, July 1998
http://stats.bls.gov/news.release/realer.toc.htm
The Consumer Price Index for All Urban Consumers (CPI-U) has increased 1.7 percent over the last year, according to BLS reports for July 1998. The Producer Price Index for Finished Goods increased 0.2 percent this July, following a decrease of 0.1 percent in June and an increase of 0.2 percent in May. Prices received by producers of intermediate goods were unchanged in July, while the crude goods index fell 1.8 percent. Real average weekly earnings increased by 0.1 percent from June to July, after seasonal adjustment. This increase stemmed from a 0.2 percent increase in average hourly earnings that was partly offset by a 0.2 percent rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged over the month. [MW]

Regional and State Employment and Unemployment, July 1998
http://stats.bls.gov/news.release/laus.toc.htm
According to the Bureau of Labor Statistics, Regional and State unemployment rates were relatively stable in July, with all four regions reporting virtually no change over the month. The Midwest continued to report the lowest unemployment rate at 3.7 percent in July, while the West once again had the highest rate at 5.1 percent. Overall, the national jobless rate remained at 4.5 percent, and non-farm payroll employment increased in 26 states. [MW]
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Bureau of Economic Analysis (BEA)
US International Trade in Goods and Services, June 1998
http://www.bea.doc.gov/bea/newsrel/trad0698.htm
The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, report that June 1998's $76.2 billion in total exports and $90.3 billion in total imports resulted in a goods and services deficit of $14.2 billion. June exports were $0.4 billion less than May exports, and June imports were $1.8 billion less than the previous month. [MW]
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United States Department of Agriculture (USDA)
USDA Reports Calendars--August 1998
USDA Agency Reports Calendar
http://www.usda.gov/news/calindex.htm
ERS Calendar
http://www.econ.ag.gov/whatsnew/calendar/
NASS Calendar
http://www.usda.gov/nass/pubs/rptscal.htm
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 these three calendar sites. [MW]
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Energy Information Administration (EIA)
International Petroleum Statistics Report, August 1998
http://www.eia.doe.gov/emeu/ipsr/contents.html
This report includes the Oil Market Chronology for July 1998, monthly world oil production data through June 1998, and monthly OECD country oil demand, imports, and stocks data through April 1998. Also included are international oil balance data for 1994-1998 and annual oil data series for 1970-1997. [MW]

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In the News
The Falling Canadian Loonie
1) Is Canada in a Financial Crisis?--Quicken.ca Dollar Watch
http://www.quicken.ca/eng/news/specials/dollarwatch/
2) The Canadian Dollar--Newsworld Online News-InDepth
http://newsworld.cbc.ca/news/indepth/dollar.html
3) The Toronto Star Business Index
http://www.thestar.com/editorial/money/index.html
4) The Toronto Stock Exchange (TSE)
http://www.tse.com/
5) Market Turmoil--CNNfn Special Report
http://cnnfn.com/specials/mkretreat/
6) Other Uses for the Useless Loonie--The Halifax Herald
http://www.herald.ns.ca/cgi-bin/home/showcartoon?1998/07/28
7) "How Not to Get Hit by a Falling Dollar" and "Let's Defend the Dollar with Lower Interest Rates"--C.D. Howe Institute
http://www.cdhowe.org/eng/pr/new-40.html
http://www.cdhowe.org/eng/pr/new-60.html
8) Latest Indicators--Statistics Canada
http://www.statcan.ca/english/econoind/
9) Economic and Financial Data--IMF DSBB
http://www.statcan.ca/english/econoind/imf/dsbbcan.htm
10) Selected Historical Canadian-Dollar Interest Rates
http://www.bank-banque-canada.ca/english/rates.htm
11) Bank of Canada Publications [.pdf]
http://www.bank-banque-canada.ca/english/pubs.htm
This week's In the News examines the faltering financial status of the Canadian dollar, or "loonie." These eleven resources track recent economic data from major Canadian financial institutions and opinions about that data as expressed in leading North American news sources. Throughout the summer months of 1998, the Canadian dollar has fallen to new lows, closing at a record 64.86 cents to the US dollar on August 24. World-wide currency instability is considered a major cause as is Canadian monetary policy and questions of Quebec's right to secede.

The Canadian news sources Quicken.ca (1), Newsworld Online (2), and The Toronto Star (3) provide in-depth special reports on Canadian financial woes as well as links to current Toronto Stock Exchange (TSE) quotes (4) and other data. Related international financial information is provided by the US-based CNNfn in the Special Report "Market Turmoil" (5). Editorial commentary from a Canadian perspective is available from Halifax Herald cartoonist Bruce MacKinnon (6) and analysts at the C.D. Howe Institute (7). The latest economic indicators are located at the Statistics Canada Website (8) and the International Monetary Fund's Dissemination Standards Bulletin Board (IMF DSBB) (9) in conjunction with Statistics Canada. Selected Historical Canadian-Dollar Interest Rates are provided by the Bank of Canada (10) in addition to archived Press Releases, Speeches, and Discussion Papers in French and English (11) [.pdf]. [MW]
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