Autoregressive Spectrum Estimation Technique Allied to Quarterly Consumer Durables Expenditure Data

Classical spectral techniques can provide sharp insights into the cyclical patterns in a time series of economic data. Various problems in the application of classical spectral techniques, such as the choices of smoothing routine and bandwidth and the appearance of end-effects, inhibit the usefulness of spectral analysis. Alternatively, an autoregressive spectral technique does not share these problems, but does present the difficulty of the choice of the order of the autoregression. This paper applies classical and autoregressive spectral techniques to quarterly consumer durables expenditure data, discusses three approaches to the choice of the order of the autoregression, and compares the results of the different spectral techniques. Autoregressive spectral analysis provides a superior representation for this time series.

Transportation/Communication Considerations in the Location of Headquarters for Multi-Establishment Manufacturing Firms

Usually transportation/communication (t/c) considerations appear as only two in a long list of factors which determine headquarters location patterns. The research reported here singles out t/c considerations as the logical basis for headquarters location decisions. We ask: to what degree do transportation/communication consideration explain the patterns of headquarters location? The case of manufacturing firms with five or more establishments and no manufacturing activity at the headquarters location was examined. The t/c considerations were studied in terms of the advantages of close proximity between the headquarters of a firm and the manufacturing establishments of that firm and the advantages of close proximity between the headquarters of one firm and the headquarters of other firms. The findings of this research show that the logic of headquarters location patterns is heavily dependent on t/c considerations.

Making and Keeping Regulatory Promises

Multiyear regulatory commitments, or their absence, are an important part of the functioning of the telecommunications services and products industries. In this Article, Warren G. Lavey argues that, under some conditions, it is both possible and beneficial for regulators to commit to a well-defined, multiyear sequence of regulatory changes. First, this Article examines several examples of how efforts for comprehensive reform fared in real multiyear implementations. It also explores how some piecemeal regulatory changes evolved into efforts for comprehensive reform based on a well-defined sequence. This Article considers the effects of multiyear regulatory promises through analysis of several regulatory actions involving telecommunications carriers in Mexico, Venezuela, Hungary, and the United States. The Article then presents two conclusions about making and keeping regulatory promises-regarding procedures and benefits-and analyzes an example of a multiyear promise in the United States with too much uncertainty about timing, carriers\u27 obligations, and regulatory standards. Lastly, the Article summarizes the conclusions and recommendations for promoting greater use of multiyear regulatory plans

Making and Keeping Regulatory Promises

Multiyear regulatory commitments, or their absence, are an important part of the functioning of the telecommunications services and products industries. In this Article, Warren G. Lavey argues that, under some conditions, it is both possible and beneficial for regulators to commit to a well-defined, multiyear sequence of regulatory changes. First, this Article examines several examples of how efforts for comprehensive reform fared in real multiyear implementations. It also explores how some piecemeal regulatory changes evolved into efforts for comprehensive reform based on a well-defined sequence. This Article considers the effects of multiyear regulatory promises through analysis of several regulatory actions involving telecommunications carriers in Mexico, Venezuela, Hungary, and the United States. The Article then presents two conclusions about making and keeping regulatory promises-regarding procedures and benefits-and analyzes an example of a multiyear promise in the United States with too much uncertainty about timing, carriers\u27 obligations, and regulatory standards. Lastly, the Article summarizes the conclusions and recommendations for promoting greater use of multiyear regulatory plans

Energy Efficiency as Fundamental to the Missions of U.S. Religious Congregations, Health Care Providers and Schools

Increased energy efficiency confers many economic, environmental, and public health benefits but is handicapped in the United States by energy prices which fail to reflect damaging emissions from most energy production. Under market prices, standard lifecycle financial analysis of potential investments leads businesses and households to improve their energy efficiency in many ways. However, pursuing environmental sustainability and enhanced public health requires heightened awareness, stronger incentives, and more actions. Many religious congregations, health care providers, and schools recognize that improving energy efficiency and reducing related emissions serve their missions. Many organizations in these mission-driven sectors have undertaken far-reaching commitments to energy efficiency, implemented strong programs, and achieved substantial progress. Some entities in these sectors appear to implement energy improvements even when not justified by typical cost/benefit analysis. Reviewing these missions and actions yields nine recommendations to strengthen and expand the impact of these sectors in driving greater energy efficiency

Responses by the Federal Communications Commission to WorldCom\u27s Accounting Fraud

WorldCom\u27s disclosure of billions of dollars of financial fraud on June 25, 2002 challenged the Federal Communications Commission ( FCC ) in several major ways. The FCC proclaimed its commitment to enforce its rules to protect consumers against service discontinuance as well as the priority of rooting out corporate fraud. The FCC\u27s rules required WorldCom to file accurate financial information and to show that it had financial and character qualifications necessary to hold FCC licenses. Despite numerous related proceedings and other actions in 2001 and early 2002, the FCC had not detected nor deterred WorldCom\u27s fraud. After the disclosure, WorldCom continued its landline and other core services. Although there were allegations that WorldCom violated the FCC\u27s rules by filing false financial information, the FCC did not take enforcement action against WorldCom and did not tighten its regulations related to such financial fraud. This article will examine the reasons for the FCC\u27s regulatory treatment of WorldCom, its failure to prevent the WorldCom debacle, and the absence of any shift in its regulatory posture in the WorldCom aftermath. Four partial explanations for the FCC\u27s responses involve the actions of the Securities and Exchange Commission and Justice Department, downturn in the telecommunications industry, long-range deregulation by the FCC, and political accountability