Is there a good case for a new Bretton Woods international monetary system?

Article Abstract:

The International Monetary Fund, the International Bank for Reconstruction and Development and the Bretton Woods adjustable-peg international monetary system were established in an historic conference in 1934. International financial and economic problems involving floating exchange rates, excessive business transactions costs, excess volatility and a misaligned foreign exchange market has resurrected calls for an international monetary system patterned after Bretton Woods. However, the Bretton Woods system has not been fully established as the major catalyst of progress during its period.

Research, Evaluation, International Monetary Fund, History, World Bank, International finance, International financial institutions, Bretton Woods Conference, 1944

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Sunk costs and firm value variability: theory and evidence

Article Abstract:

The firm value variability predictions of dynamic competitive models are analyzed. These models come in two types, namely, learning models and external shock models. It is shown that learning models predict that intra-industry firm value variability will be larger in high sunk cost industries. External shock models predict that regressing the intertemporal range of a firm's value on a proxy for its industry's average sunk cost results in a positive coefficient.

Business Activity NEC, Models, Business enterprises, Valuation

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The time and monetary costs of outpatient care for children

Article Abstract:

Data from the 1987 National Medical Expenditure Survey were examined to determine the impact of time and monetary costs on pediatric care demand. Application of a reduced form specification model showed that time costs exhibited a negative effect on the frequency of illness-related visits for children. Work incentives of extended sick leaves encouraged working mothers to increase such visits for their children.

Economic aspects, Family leave, Child health services

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