A problem common to many state-funded universities or university systems is how to maintain an inflow of young (and ceative) new faculty when student enrolment declines or government grants are reduced, and existing faculty are aging but subject to tenure protection. This paper considers the...

Starting with a theoretical QUAIDS model at the micro level, an approximate aggregation is developed that allows the model to be applied to time series at the macro level (The approximated aggregation holds for a "representative" consumer with utility equal to the harmonic mean of the individual...

A theoretical model and a two-stage econometric estimation procedure are proposed for determining the parameters of industry-region-specific cost, input-demand, or other functions using grouped data. The model and estimation procedure are appropriate when only marginal totals or averages are...

This study investigates the behaviour of the components of the bid-ask spread around earnings announcements. We find that adverse selection cost component significantly increases surrounding the announcements while the inventory holding and order processing components significantly decline...

This paper makes available a number of projections of the age-sex distribution of the Canadian population in the 45-year period 1996 to 2041 and comparisons with the previous 45-year period. The projections combine assumptions relating to fertility, mortality and immigration so as to produce...

THRILS is a computer program that embodies a model designed to generate daily and weekly electricity load profiles for 31 industries in 7 regions for each of 12 months under various user-controlled assumptions about weather conditions. The present report describes THRILS briefly but its main...

The baby boom generation is now well into middle age, and over the next few decades will reach old age. As the boom generation grows old the costs of maintaining existing social support systems will rise, and the ability or willingness to sustain those systems has been called into question. In...

The monetary Authority of Singapore (MAS) has a policy of controlling bank lending in Singapore dollars to non-residents and residents outside Singapore. One of the objectives of this MAS policy is to discourage speculation against the Singapore dollar in times of currency crisis. The present...

Sixty-five has long been thought of as the point of entry into "old age". We propose a number of life table criteria for answering the following questions: If 65 was considered appropriate four decades ago, what is the corresponding age today? If 65 was (implicitly) a male-oriented definition...

This paper empirically examines the incremental relation between trading volume surrounding quarterly earnings announcements and institutional holdings. Consistent with Cready (1988) and Lee (1992), we find a significant positive relation between abnormal trading volume and the fraction of...