Table Of Content

The Manchester School VOLUME 74 2006 Managing Editor: Keith Blackburn Editors: Rabah Amir, Martyn Andrews, Dong Heon Kim, Chris Orme and Eyal Winter Associate Editors: Mike Artis, Robin Bladen-Hovell, Richard Cornes, David Greenaway, Hans haller, Paul Madden, Kostas Mavromaras, Keith McLaren, Denise Osborn, Christian Schultz, Alan Sutherland, David Young Editorial Assistant: Ann Drozdziak CONTENTS No. 1 January 2006 COMPETITION IN THE MEDIA AND ADVERTISING JEAN J. GABSZEWICZ MARKETS Dipter LAUSSE! NATHALIE SONNAC HANS HALLER TO SAMPLE OR NOT TO SAMPLI ANTHONY PAVLOPOULOS R&D COMPETITION AND ENDOGENOUS SPILL- Jim Y. YIN OVERS MICHAEL TROEGI SAMI DAKHLIA HE ROLE OF R&D TECHNOLOGY IN ASYM- FLAVIO M. MENEZES METRIC RESEARCH JOINT VENTURES AKRAM TEMIMI QUALITY CHOICE, SALES RESTRICTION AND THI NICOLAS BOCCARD MODE OF COMPETITION XAVIER WAUTHY SPILLOVERS AND ABSORPTIVE CAPACITY IN A CHRISTINE PATENT RACE HALMENSCHLAGER INTERNATIONAL COOPERATION, COALITIONS MICHELE BRETON STABILITY AND FREE RIDING IN A GAME OI KARIMA FREDJ POLLUTION CONTROL GEORGES ZACCOUR 2006 Blackwell Publishing Ltd and The | Blackwell Publishing Ltd, 9600 Garsingtor n. MA 02148, USA 726 No. 2 March 2006 PREFERENCES OVER TEMPORAI FRAMES IN DYNAMIC DECISION PROBLEMS AN EXPERI- JOHN D. HEY MENTAI INVESTIGATION MASSIMO PARADISO URIEL SPIEGEI PROFIT MAXIMIZATION AND SOCIAI OPTIMUM Uri BEN-ZION WITH NETWORK EXTERNALITY TCHAI TAVOR WHOLESALE PRICING WHEN BUYERS ARI ASYMMETRIC COURNOT COMPETITORS GIUSEPPE COLANGELO INCOMI THRESHOLDS AND GROWTH CON- VERGENCI A PANE! DATA APPROACH TSUNG-Wu He DYNAMIC INCENTIVI CONTRACTS UNDER NO COMMITMENT TO PERIODIC AUDITING AND A RETROSPECTIVI PENALTY SYSTEM Hstao-Cui CHEN CANADIAN MONEY DEMAND FUNCTIONS COINTEGRATION-RANK STABILITY ALFRED A. Haut ON THIRD-DEGREE PRICI DISCRIMINATION IN KRISHNENDU GHOSH OLIGOPOLY > DASTIDAR No.3 June 2006 OPTIMAI DECISIONS WITH LINEAR RANDOM CARMEN f MENEZES PAYOFI X HENRY WANG THE CHOICE OF CAPACITY IN MIXED DUOPOLY YUANZHU LI UNDER DEMAND UNCERTAINTY SOUGATA PODDAR HAVE EMPLOYEEINS GERMANY RECEIVED FULI WAGE COMPENSATION AFTER A CUT IN STANDARD HOURS? THORSTEN SCHANK MIXED OLIGOPOLY, PRODUCT DIFFEREN- PEDRO CANTOS-SANCHEZ TIATION AND COMPETITION FOR PUBLIC RAFAEL TRANSPORT SERVICES MOoner-C OLONQUES TARIFFS AND SUBSIDIES UNDER ASYMMETRIC OLIGOPOLY {1D VALOREM VERSUS SPECIFIC INSTRUMENTS Davip R. COoLLit COMPLEMENTARY MONOPOLY AND WELFARI IS SPLITTING UP SO BAD? JOLIAN MCHARDY ON LABOUR MARKET DUALISM IN THE LEWIS MODEL: A COMMENT RICHARD P.C BROWN LABOUR MARKET DUALISM IN THE LEWIS MODEL: REPLY Gary S. FIELDS FISCAL POLICIES AND OUTPUT IN THE LONG RUN: A PANEL COINTEGRATION APPROACH APPLTO ITHEE DOEC D D1EGO ROMERO-AVILA SKILL SPECIFICITY AND LABOUR MOBILITY: OCCUPATIONAI AND SECTORAI DIMEN- Rosert J. R. ELLiort SIONS JOANNE LINDLEY ompilation © 2006 Blackwell Pu niversity of Man No. 4 Special Issue 2006 SPECIAL ISSUE ON EFFICIENCY ANALYSIS IN FINANCE AND MACROECONOMICS: EDITORS’ PHILIP ARESTIS INTRODUCTION GEORGIOS CHORTAREAS FINANCIAL DEVELOPMENT AND PRODUCTIVE PHiLip ARESTIS EFFICIENCY IN OECD COUNTRIES AN GEORGIOS CHORTAREAS EXPLORATORY ANALYSIS EVANGELIA DESLI BANK COMPETITION, CONCENTRATION AND EFFICIENCY IN THE SINGLE EUROPEAN BARBARA CASl MARKET CLAUDIA GIRARDONI BANKING AND ECONOMIC ACTIVITY PERFOR- MANCI AN EMPIRICAL STUDY AT THE ANA LOZANO-VIVAS COUNTRY LEVEL Jesus T. Pastor ECONOMIESO F SCALE AND COST EFFICIENCIES \ PANEL-DATA STOCHASTIC-FRONTIER STEPHEN M. MILLER ANALYSIS OF REAL ESTATE INVESTMENT TERRENCE M. CLAURETIE TRUSTS THOMAS M. SPRINGER PRODUCTIVITY, EFFICIENCY AND TECHNOLOG- ICAL CHANGE IN EUROPEAN UNION REGIONAI ALVARO ANGERIZ MANUFACTURING: A DATA ENVELOPMENT JOHN McComsit ANALYSIS APPROACH MARK ROBERTS DIRECT AND INDIRECT MEASURES OF CAPACITY SuBHASH C. Ray UTILIZATION: A NON-PARAMETRIC ANALYSIS OF KANKANA MUKHERJEE US MANUFACTURING . YANNA WI No.5 September 2006 BERTRAND GAMES WITH LIFETIME EMPLOYMENT CONTRACTS AS A STRATEGIC COMMITMENT KAZUHIRO OHNISHI MULTIPLE FACILITIES, STRATEGIC SPLITTING AND VERTICAIL STRUCTURES: STABILITY, GROWTH AND DISTRIBUTION RECONSID- DAN COFFEY ERED ; ; PHILIP R. TOMLINSON l!WO-STEP EMPIRICAL LIKELIHOOD ESTIMATION UNDER STRATIFIED SAMPLING WHEN AGGRE- ESMERALDA A. RAMALHO GATE INFORMATION IS AVAILABLE Joaquim J. S. RAMALHO \ FORWARD-LOOKING MKASURE OF THE STOCK TRINH LE OF HUMAN CAPITAL IN NEW ZEALAND JOHN GIBSON Les OXLEY CAPITAL MOBILITY AND THE FELDSTEIN HORIOKA PUZZLE: RE-EXAMINATION OF LESS JAMES E. PAYNI DEVELOPED COUNTRIES RIsA KUMAZAWA EMPLOYMENT RISK AND THE SUBSTITUTION BETWEEN SAVING AND UNEMPLOYMENT INSURANCE ... ILTAE KIM HOW SUSTAINABLE ARE OECD CURRENT ACCOUNT BALANCES IN THE LONG RUN? Mark J. HOLMES il compilation © 2006 Blackwell Publishing Ltd and The University of M anchester 2006 728 No. 6 December 2006 A SIMPLE MODEL OF OPTIMAL TAX SYSTEMS, TAXATION, MEASUREMENT AND UNCER- SANuIT DHAMI TAINTY ; ‘ : 2 he Ai AL-NowalHI LAURIAN LUNGI EXPLAINING THE EQUITY RISK PREMIUM ... PATRICK MINFORD COORDINATION FAILURES IN NETWORK MIGRATION ; ; ees AXEL HEITMUELLER ON THE POSSIBILITY OF PARETO-IMPROVING PENSION REFORM TATIANA DAMJANOVI INDEX ERRATUM Supplement MARKET ORGANIZATION AND THE PRICES OF GEORGE M FINANCIAL ASSETS oo CONSTANTINIDES MACROECONOMIC MODELLING WITH A GLOBAI M. HASHEM PESARAN PERSPECTIVE : RON SMITH A MODEL OF BANK CAPITAL, LENDING AND THE MACROECONOMY: BASEL I VERSUS_ BASEI Il LEA ZICCHINO MULTIPLI BANKING RELATIONSHIPS AND OVER-LEVERAGE IN ITALIAN MANUFACTURING STEFANIA COSCI FIRMS VALENTINA MELICIANI THE INFORMATION CONTENT OF THE TERM STRUCTURE OF INTEREST RATES ABOUT FUTURE INFLATION—AN ILLUSTRATION OF THEI IMPORTANCE OF ACCOUNTING FOR A TIME-VARYING REAL INTEREST RATE AND CHRISTIAN Most! INFLATION RISK PREMIUM : NIELSEN DO EUROPEAN CENTRAL BANK’S STATEMENTS STEER INTEREST RATES IN THE EURO ZONE? MARIE MUSARD-GIES il compilation © 2006 Blackwell Publishing Ltd and The University ° . F » . - > - . v 7 hg ‘ @ : " ‘i { * rf “i ’ - ; 4 meh a | te 4 . . . ) y s Hee ceed ° ; s : ebay ot *