Business Economics

Professional journal of the National Association of Business Economists covering topics such as macro and microeconomics, monetary and fiscal policy, business forecasting, international economics, and deregulation.

Articles from Vol. 31, No. 4, October

Chain-Type Measures of Real Output and Prices in the U.S. National Income and Product Accounts: An Update
The most important improvement in the 1996 comprehensive national income and product account (NIPA) revision was the introduction of a new methodology for calculating changes in real output and prices. In BEA's previous method, the change in real GDP...
Consolidation and Convergence of Financial Institutions
Evolution bordering in its rapidity on revolution is unfolding before our eyes in the provision of financial services. Evolution is difficult to recognize as it occurs, in good part because the eventual outcome remains uncertain. Nevertheless, the number...
Directions for U.S. Energy Conservation and Independence
Many analysts and policy makers see energy conservation and independence as desirable goals for U.S. energy policy. These were among the stated goals when the Clinton administration proposed the so-called "Btu tax" in 1993. Yet, virtually all forecasts...
Forecast Accuracy: Are Some Business Economists Consistently Better Than Others?
This paper evaluates the forecast performance of a core group of participants in the semiannual survey of economic predictions reported by The Wall Street Journal (WSJ). Studies examining individual forecast accuracy of other economic forecast surveys...
Industry Corner: Lighting the Way: The U.S. Lamp Industry, 1985-2005
While a mature industry, lamp-making in the United States is showing signs of revitalization. This resurgence is due in part to a shift in the lamp product mix and in part to an expansion of both the replacement market and new applications. Low cost,...
Natural Gas in the Twenty-First Century
The Natural Gas Industry, like the electricity industry, closes the century in the throes of revolution. The wellhead-to-burnertip regulation and control that characterized most of the industry's development in the twentieth century is being abandoned...
Statistics Corner: Nonfarm Payroll Employment Data: Benchmark Revisions and Improvements in Methodology
Because of recent sharp reactions in the financial markets to the nonfarm payroll employment data released early each month, we have asked the Bureau of Labor Statistics to provide us with some detail on the revisions and the reasons for the seemingly...
The Business Economist at Work: Linking Economics to Market Research: A.C. Nielsen
In the never-ending quest for new applications of economic skills, I think I have a new one: media communications support. As Director of Research within A.C. Nielsen's Communications Department, I am the only "numbers" person around. While the television...
The Future of Electricity
When one thinks of the industries that will undergo the most rapid change over the next five years, the computer, software, telecommunications, and health care industries immediately come to mind. However, the one industry that is likely to experience...
The Future of Oil
Unlike the other energy forms, oil is a global business. While coal and gas are internationally traded, they are small relative to the trade in oil: 53 percent of oil is internationally traded, 17 percent of gas (although most of this is by pipeline...