The "Unintended Consequences" of Confederate Trade Legislation

The immediate purpose of this paper is to focus on how import and blockade regulations enacted by the Confederacy affected the course of the war in its final days, but the issue of the economic effects of blockades has broader implications. Economic policies have been used as weapons, at least since the times of Pericles' Megaran Decree in 432 B.C., and have probably only grown in importance as economies have grown less autarkic and more interdependent over time. Since 1790, there have been at least four major global wars that have involved prolonged fighting, heavy losses, and severe bouts of inflation: the Napoleonic Wars, the American Civil War, World War I, and World War II. In all four of these conflicts, embargoes and blockades were an important component of the war planning of the eventual victor.Macroeconomics; Transitional Economies

Railroads, engineers, and the developement of spatial economics in France

This articles traces a little-known French tradition in spatial economics that was advanced by state engineers who were trained at the Ecole des Ponts et Chaussées and worked for the State Corps engineers. Spurred in part by changes in power technology, especially the advent of the railroad, these engineers pioneered the spatial aspects of competition in a macroeconomic framework. The contribution of Jules Dupuit (1804 - 1866) and Emile Cheysson (1836 - 1910) are especially singled out for analysis, and are shown to have anticipated later important developments in spatial economic theory.

ARE ART AUCTION ESTIMATES BIASED?

ABSTRACT This paper considers whether pre-sale auction estimates are unbiased predictors of price when "no-sales" are considered utilizing a newly constructed sample of over 500 works by eight early 20 th century American artists. Unbiased pre-sale auction estimates in predicting price, while expected, are generally not supported in previous work, but these studies (excepting one) do not include no-sales in the calculations. In order to study the question we employ a standard approach that uses an inverse Mills ration arising from a sample selection probit, as suggested by We find that controlling for selection bias, pre-sale auction estimates appear to be biased downward and we offer possible reasons for this result

ARE ART AUCTION ESTIMATES BIASED? (forthcoming Southern Economic Journal: http://journal.southerneconomic.org/doi/abs

ABSTRACT This paper considers whether pre-sale auction estimates are unbiased predictors of price when "no-sales" are considered utilizing a newly constructed sample of over 500 works by eight early 20 th century American artists. Unbiased pre-sale auction estimates in predicting price, while expected, are generally not supported in previous work, but these studies (excepting one) do not include no-sales in the calculations. In order to study the question we employ a standard approach that uses an inverse Mills ration arising from a sample selection probit, as suggested by We find that controlling for selection bias, pre-sale auction estimates appear to be biased downward and we offer possible reasons for this result

Household Production and Consumption of News-Information Services: An Empirical Study

A dramatic decline in newspaper consumption has been observed in recent years. This paper offers a theoretical justification for this phenomenon based on the opportunity cost of household time. A rising labor force participation rate, which proxies the opportunity cost of household production, helps explain the observed decline in newspaper consumption in a simple empirical test.Household Production; Households; News; Newspapers; Service; Services

Total energy expenditure is repeatable in adults but not associated with short-term changes in body composition

Low total energy expenditure (TEE, MJ/d) has been a hypothesized risk factor for weight gain, but repeatability of TEE, a critical variable in longitudinal studies of energy balance, is understudied. We examine repeated doubly labeled water (DLW) measurements of TEE in 348 adults and 47 children from the IAEA DLW Database (mean ± SD time interval: 1.9 ± 2.9 y) to assess repeatability of TEE, and to examine if TEE adjusted for age, sex, fat-free mass, and fat mass is associated with changes in weight or body composition. Here, we report that repeatability of TEE is high for adults, but not children. Bivariate Bayesian mixed models show no among or within-individual correlation between body composition (fat mass or percentage) and unadjusted TEE in adults. For adults aged 20-60 y (N = 267; time interval: 7.4 ± 12.2 weeks), increases in adjusted TEE are associated with weight gain but not with changes in body composition; results are similar for subjects with intervals >4 weeks (N = 53; 29.1 ± 12.8 weeks). This suggests low TEE is not a risk factor for, and high TEE is not protective against, weight or body fat gain over the time intervals tested

Diagnosis and management of adhesive capsulitis

Adhesive capsulitis is a musculoskeletal condition that has a disabling capability. This review discusses the diagnosis and both operative and nonoperative management of this shoulder condition that causes significant morbidity. Issues related to medications, rehabilitation, and post surgical considerations are discussed