Current Social Science Research Report--Economics #12, April 24, 2007.

CSSRR-Economics is a weekly email report produced by the Data and Information Services Center at the University of Wisconsin-Madison. It seeks to help social science researchers keep up to date with the latest developments in the field. This report will contain selected listings of new: reports, articles, bibliographies, working papers, tables of contents, conferences, data, and websites. For more information, including an archive of back issues and subscription information see:


CSSRR-Economics is compiled and edited by Jack Solock and Charlie Fiss.


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Index to this issue:
















1. Bureau of Labor Statistics Periodical:

A. Monthly Labor Review (Vol. 130, No. 2, February 2007, pdf format).

Note: this is a temporary address. When the next MLR is released, this one, along with all others back to 1981, will be available at:

B. Compensation and Working Conditions Online. Note: The latest article is dated Apr. 18, 2007.

2. Bureau of Economic Analysis Periodical Survey of Current Business (Vol. 87, No. 4, April 2007, .pdf format).

3. Congressional Budget Office Report: "Trends in Earnings Variability Over the Past 20 Years." (Apr. 17, 2007, .pdf format, 30p.)

4. National Science Foundation InfoBrief: "U.S. R&D Increased 6.0% in 2006 According to NSF Projections" (NSF 07-317, April 2007, HTML and .pdf format, 4p.).

5. Energy Information Administration Country Analysis Briefs:

A. "Russia" (April 2007, HTML and .pdf format, 19p.).

B. "France" (April 2007, HTML and .pdf format, 10p.).

C. "Nigeria" (April 2007, HTML and .pdf format, 11p.).

D. "Oman (April 2007, HTML and .pdf format, 10p.).

E. "Sakhalin Island" (April 2007, HTML and .pdf format, 3p.).

F. "Sudan" (April 2007, HTML and .pdf format, 8p.).

6. US Government Economic Releases from the National Bureau of Economic Research: Links to releases for Apr. 17-24, 2007 are available at the site.

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US States:


Labor and Workforce Development Periodical: Alaska Economic Trends (April 2007, .pdf format, 19p.). The main article in this month's issue concerns: "A Supply of Alaska Workers for the Gas Line."


Commerce & Labor Periodical: Idaho Employment Newsletter (March 2007, .pdf format, 35p.).


Department of Administration & Information, Economic Analysis Division Report: "Wyoming Economic Outlook," by Buck McVeigh (Presentation on The Wyoming Business Alliance's Outlook 2007 Forum, April 2007, .pdf format, 19p.).

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NGOs and Other Countries

United Nations:

Economic and Social Commission for Asia and the Pacific (ESCAP) Periodical, Report:

A. Asia-Pacific Development Journal (Vol.13, No.2, December 2006, .pdf format).

B. "Economic and Social Survey of Asia and the Pacific 2007," (April 2007, .pdf format, 196p.).


European Commission:

1. Eurostat Periodicals:

A. Labour Market Latest Trends - 3rd quarter 2006 data (No. 3/2007, April 2007, .pdf format, 8p.).,46587259&_dad=portal&_schema=PORTAL&p_product_code=KS-QA-07-003

B. Euro-Indicators State of Affairs (April 2007, .pdf format, 24p.).,46587259&_dad=portal&_schema=PORTAL&p_product_code=QR-042007

C. Euro-Indicators Monitoring Report (April 2007, .pdf format, 8p.).,46587259&_dad=portal&_schema=PORTAL&p_product_code=LN-MR042007

2. Europa Periodicals: Statistics in Focus. In the last week Statistics in Focus released two new issues (Nos. 50/2007--51/2007, all .pdf format).,1136118&_dad=portal&_schema=PORTAL&_calledfrom=2


European Central Bank Occasional Papers:

A. "Determinants of growth in the central and eastern European EU member states - a production function approach," by Olga Arratibel, Frigyes Ferdinand Heinz, Reiner Martin, Marcin Przybyla, Lukasz Rawdanowicz, Roberta Serafini and Tina Zumer (No. 61, April 2007, .pdf format, 52p.).

B. "Commodity price fluctuations and their impact on monetary and fiscal policies in Western and Central Africa," by Uwe Böwer, André Geis and Adalbert Winkler (No. 60, April 2007, .pdf format, 54p.).


Commodity prices play an important role in economic developments in most of the 24 Western and Central African (WCA) countries covered in this paper. It is confirmed that in the light of rising commodity prices between 1999 and 2005, net oil exporters recorded strong growth rates while net oil-importing countries -- albeit benefiting from increases in their major non-oil commodity export prices -- displayed somewhat lower growth. For most WCA economies, inflation rates appear less affected by commodity price changes and more determined by exchange rate regimes as well as monetary and fiscal policies. While passthrough effects from international to domestic energy prices were significant, notably in oil importing countries, second-round effects on overall prices seem limited. Governments of oil-rich countries reacted prudently to windfall revenues, partly running sizable fiscal surpluses. A favourable supply response to rising spending as well as sterilisation efforts and increasing money demand also helped to dampen inflationary pressures. However, substantial excess reserves of commercial banks reflect challenges in financial sector developments and the effectiveness of monetary policy in many WCA countries. Given currently widely used fixed exchange rate regimes, fiscal policy will continue to carry the main burden of macroeconomic adjustment and of sustaining non-inflationary growth, which remains the key policy challenge facing WCA authorities.


International Monetary Fund Country Reports The latest Country Reports span the time period from Apr. 13--April 20, 2007 (No. 07/141-07/142).



Statistics Denmark Statbank Denmark Updates. The following annual tables (various download format options) have been updated through 2006:

A. ANI2: Livestock products ex producer (year) by index type

B. "ANI3: Livestock products ex producer (DKK mio./Indices: 1995=100) by type of product

C. "ANI5: Slaughterings and production of pigs by category and unit



Statistics Iceland Report: "Disposable income of the household sector 1994-2005" (April 2007, .pdf format, 20p.). The report is in Icelandic, with an English summary on p. 12, and table heads in Icelandic and English. It is linked to from a SI news release by the same title (No. 44/2007, Apr. 16, 2007).

Link is at the bottom of the news release.



Central Bureau of Statistics Report: "Private Consumption Expenditure By Industry 1995-2005" (April 2007, .pdf format, 92p., with tables in Microsoft Excel format, and ancillary information in Microsoft Word format).



Statistics Netherlands Web Magazine Article: "Dutch inflation no longer below eurozone average," by Jan Walschots (Apr. 19, 2007).



Statistics Norway News Releases:

A. "Public non-financial enterprises, structural business statistics, 2006: Real estates and business activities dominate" (Apr. 17, 2007). The news release links to several topical tables.

B. "National accounts and the environment 1990-2005: Less pollution per Norwegian kroner" (Apr. 17, 2007).



Statistics Singapore Periodical: SingStat Newsletter (March 2007, .pdf format, 15.).



Statistics Sweden News Release: "Financial assets and liabilities for municipalities and county councils: Positive financial status for county councils" (Apr. 19, 2007).



1. National Statistics Office Data Set, News Release:

A. "Labour Disputes Public and Private Breakdown" (April 2007, comma separated value [.csv] format).

B. "UK eighth in EU (European Union) strike league table for 2005" (Apr. 16, 2007, .pdf format, 2p.).

2. House of Commons Research Paper: "Unemployment by Constituency, March 2007," by Ed ard Beale and Alex Adcock (07/36, April 2007, .pdf format, 51p.).

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Federal Reserve Bank of St. Louis (Missouri) Periodical: Monetary Trends (May 2007, .pdf format, 20p.).


Employee Benefit Research Institute Notes: "Employee Tenure, 2006," by Craig Copeland (EBRI Notes, Vol. 28, No. 2, April 2007, .pdf format, 12p.).


World Economic Forum Report, Brief:

A. "The Arab World Competitiveness Report 2007" (April 2007, .pdf format, 269p.).

B. World Economic Forum: "Latin America @ Risk: A Global Risk Network Briefing." (April, 2007,.pdf format, 13p.)

More information about WEF:

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Federal Reserve Banks:

1. Finance and Economic Discussion Series: FRB FEDS has added several papers in the last week (pdf format). The papers can be found at:

The new papers are: 2007-12 through 2007-20.

2. Federal Reserve Bank of Chicago:

A. "Debit Card and Cash Usage: A Cross-Country Analysis," by Eugene Amromin and Sujit Chakravorti (WP 2007-04, April 2007, .pdf format, 45p.). Links to an abstract and full text can be found at:

B. "Assessing a Decade of Interstate Bank Branching," by Christian A. Johnson and Tara Rice (WP 2007-03, April 2007, .pdf format, 39p.). Links to an abstract and full text can be found at:

3. Federal Reserve Bank of Minneapolis (Minnesota): "Sales and the Real Effects of Monetary Policy," by Patrick J. Kehoe and Virgiliu Midrigan (Working Paper No. 652, April 2007, .pdf and Post Script format, 46p.). Links to an abstract and full text can be found at:

4. Federal Reserve Bank of New York Staff Reports:

A. "Liquidity-Saving Mechanisms," by Antoine Martin and James McAndrews (Staff Report No. 282, April 2007, .pdf format, 50p.). Links to an abstract and full text are available at:

B. "Why Does Overnight Liquidity Cost More Than Intraday Liquidity?' by Joydeep Bhattacharya, Joseph H. Haslag, and Antoine Martin (Staff Report No. 281, April 2007, .pdf format, 24p.). Links to an abstract and full text are available at:

5. Federal Reserve Bank of San Francisco (California):

A. "Expected stock returns and variance risk premia," by Tim Bollerslev and Hao Zhou (Finance and Economic Discussion Series 2007-11, 2007, December 2006, .pdf format, .pdf format, 30p.). Links to an abstract and full text are available at:

B. "Alternative methods of unit nonresponse weighting adjustments: an application from the 2003 Survey of Small Business Finances," by Lieu N. Hazelwood, Traci L. Mach, and John D. Wolken (Finance and Economic Discussion Series 2007-11, February 2007, .pdf format, 18p.).


John F. Kennedy School of Government Working Paper: "Understanding Political Corruption in Low Income Countries," by Rohini Pande (Working Paper No. RWP07-0200, Apr. 15, 2007, .pdf format, 34p.) Link to an abstract and full text are available at:

Click on PDF icon for link to full text.


Wharton School (University of Pennsylvania) Risk Management and Decision Processes Center: "A New Energy Paradigm: Ensuring Nuclear Fuel Supply and Nonproliferation through International Collaboration with Insurance and Financial Markets," by Debra K. Decker and Erwann O. Michel-Kerjan (Working Paper #07-06, March 2007, .pdf format, 28p.)


Increases in world population and per capita energy demand in the next few decades are expected to cause a substantial rise in world energy use. In addition, growing concern over carbon-based energy’s effect on global warming has revived interest in non-carbon-based energy sources such as nuclear power. Seeking ways to dissuade more states from contemplating launching their own uranium enrichment programs (which could produce not only material for nuclear fuel but also for nuclear weapons), the International Atomic Energy Agency (IAEA) is considering different mechanisms to assure these states that they can obtain fuel supplies from the market without political interference.

Nuclear fuel users, however, care about all aspects of managing the risk of their fuel supplies, not just the politics of obtaining enriched uranium. Moreover, some of these states might be afraid that any solution exclusively supported by the IAEA would still be susceptible to political pressures from certain producer members. Building on the experience of the nuclear safety/security and catastrophic risk financing fields, we discuss ways the international community could facilitate the development of an insurance market to provide added security. Specifically, we recommend the financial indemnification for economic losses suffered by nuclear utilities (public and private) due to a disruption of supply over the full fuel cycle (enrichment, fabrication, and transportation). One way to achieve that is to establish an international insurance mechanism (e.g., a mutual company) that would both limit the fuel risk of the nuclear facilities and benefit from coverage from a consortium of private insurers and reinsurers. The mechanism could benefit from an additional layer of protection by being backstopped by IAEA member countries.

The eligibility for such insurance coverage and the terms and condition of the indemnification would be analyzed and prespecified. Because this approach would rely on international insurance markets, it could be seen not only as complementary to other proposed solutions but also more neutral.

The mutual company could also use supply options to facilitate fuel deliveries in the event of market interruptions. Support for the commoditization of the uranium market should also be considered.


National Bureau of Economic Research: NBER has released the following working papers for the week of Apr. 9-16, 2007 :

New papers are: w13044-w13057.


The European Central Bank has added several working papers in the last week. Papers (.pdf format) can be found at:

New papers are: 744-747.


Faculdade de Economia da Universidade do Porto [Portugal] Working Paper: "Market Impact of International Sporting and Cultural Events," by Antonio Miguel Martins and Ana Paula Serra. (Working Paper No. 240, April 2007, .pdf format, 41p.)

"This paper investigates the impact of international sporting and cultural events on national stock markets. We study market reaction to the announcements of the selected country hosting mega-events such as the Olympic Games, the World and the European Football Cups and World Exhibitions. First, we evaluate the abnormal returns of winning bidders at (and around) the announcement date at market and industry-levels. Second, we analyze the determinants of the variation in abnormal returns across events and industries and control for the prior probability of observing the event. Third, on the basis of a simple model of partial anticipation, we reexamine the abnormal returns observed for the winning and losing countries. Our initial results suggest that the abnormal returns are not consistently different from zero. Further, when we look at particular industries, we find no evidence supporting that industries, that a priori were more likely to extract direct benefits from the event, observe positive significant effects. Yet when we control for the prior expectations, the announcement of these megaevents is associated with a positive stock market reaction in the nominated country and a negative reaction in the losing country. Overall we interpret our findings as supportive of rational asset pricing and partial anticipation."


International Monetary Fund: IMF has added several working papers . The papers are Nos.07/93--07/97.


World Bank Development Programme: WDP has recently released several new working papers. See the list at:

New Papers are: 4213-4221

and click on "More" for the rest.


Institute for the Study of Labor (IZA) [University of Bonn, Germany]: IZA has recently released several new working papers.

The new working papers are: 2755-2764


Center for Economic Studies/Ifo Institute for Economic Research (CESifo) [Munich, Bavaria, Germany]: CESifo has recently released several new working papers:

and "Browse Working Paper List" for 2007.

The new papers are numbered 1961-1968


New Economic Papers (NEP)-ALL. The latest list of New Economic Papers (Apr. 14, 2007) is available at:


AgEcon Search: This week's new working papers from AgEcon Search at the University of Minnesota are available at:

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JOURNAL TABLES OF CONTENTS (check your library for availability):

Econometrica (Vol. 75, No. 3, May 2007). Note: Full electronic text of this journal is available in the ProQuest Research Library. Check your library for the availability of these databases and this issue.

Economic Modelling (Vol. 24, No. 4, July 2007).

Economics Letters (Vol. 95, No. 2, May 2007).

European Economic Review (Vol. 51, No. 4, May 2007).

Journal of Economic Theory (Vol. 134, No. 1, May 2007).

Journal of Finance (Vol. 62, No. 2, April 2007).

Journal of Financial Economics (Vol. 84, No. 2, May 2007).

Journal of Mathematical Economics (Vol. 43, No. 3-4, April 2007).

Journal of Monetary Economics (Vol. 54, No. 3, April 2007).

Oxford Economic Papers (Vol. 59, No. 2, April 2007).

Review of Economics and Statistics (Vol. 89, No. 2, May 2007). Note: Full electronic text of this journal is available in the ProQuest Research Library. Check your library for the availability of these databases and this issue.

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University of South Africa: "International Banking Conference 2007," to be held October 8-11, 2007 in Sun City, Northwest Province, South Africa. For more information see:

The Centre for European Economic Research (ZEW): "Research Network on Innovation and Competition Policy," to be held May 4-5, 2007 in Mannheim, Baden-Württemberg, Germany. For more information see:

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US Bureau of Labor Statistics: "Fatal cases added on the revised 2005 file," (April 17, 2007).


US Department of Agriculture, Economic Research Service:

A. Foreign Agricultural Trade of the United States (FATUS) (April 2007, Microsoft Excel format): "U.S. trade data are collected by U.S. Department of Homeland Security, U.S. Customs and Border Protection and compiled and distributed by the U.S. Department of Commerce, U.S. Census Bureau using the United States' Harmonized Tariff Schedule (HTS) of 10-digit codes. Updated trade data are released monthly by the Bureau of the Census. Foreign Agricultural Trade of the United States (FATUS) is a standard USDA aggregation of several thousand HTS codes into 213 agricultural groups most used by the public.

B. "China Agricultural and Economic Data" (April 2007, HTML and Microsoft Excel format). "The ERS China agricultural and economic database is a collection of agricultural-related data from official statistical publications of the People's Republic of China. There are 250 data items available at the national level, and 45 crop, livestock, agricultural output, and population items available at the provincial level. Data are annual. Years available vary from item to item. Many national data series are from 1949 to the latest year, but some items are available only for selected years. Users should be aware that data collection methods in China have changed over time."

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