I. Peculiar position of Great Britain, a creditor country, as regards external payments, 48. — II. Depositories opened by the Bank of England outside Great Britain, 50. — III. Obligations by foreigners not paid, 52. — IV. Embarrassments of accepting houses, discount houses, joint stock banks, 55. — V. Stock exchange closed, 58; Bank of England guaranteed by Government against loss on bills taken over, 60; the bank rate kept moderate, 60. — VI. Possibility of internal drain, 64 ; Bank act suspended, 65; Currency Notes issued by Government, 66; extent of additional issues, 68. — VII. Conclusion, 70.

[All over the world economists are busy evaluating major road proposals and other transport projects. But this work is largely confined to rural areas because the methods used are inappropriate for evaluating big transport schemes in towns, where traffic congestion is a dominating consideration. This paper discusses congestion as an economic problem of demand and supply, expressed as simple functions of the cost of travel, in time and money, to the road user. Road expansion in congested cities often seems to achieve nothing but more congestion. This paper demonstrates how this arises as a process of market equilibrium, and how one can assess the benefits of the road expansion in this situation. The paper then considers how the evaluation of road schemes would be affected if direct road pricing were introduced into cities as a means of controlling congestion.]

Haugen and Baker (1996) report that a long-short stock selection strategy based on more than 50 measures of accounting information and past return behavior would have generated excess returns of approximately 3% per month. We find that the Haugen and Baker strategies do not provide attractive returns after transaction costs if an investor already has access to strategy portfolios based on book-to-market and momentum. We also provide an extensive analysis of transaction costs over a long sample and we report results of independent interest to researchers in market microstructure.

This paper is part of a Ph.D. dissertation submitted by the author to the Graduate College, University of Iowa, and was partially supported by the National Science Foundation Grant GS-1491. The author acknowledges the guidance and encouragement received from Professor S. Y. Wu.

Journal Article On Measuring Economic Interrelatedness Get access J. M. Blin, J. M. Blin Northwestern University Search for other works by this author on: Oxford Academic Google Scholar Frederic Murphy Frederic Murphy Northwestern University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 41, Issue 3, July 1974, Pages 437–440, https://doi.org/10.2307/2296761 Published: 01 July 1974

I. Price behavior, 451.—II. Profit, price behavior, and cost efficiency, 452.—III. Mobility and long-run equilibrium, 453.—Conclusion, 454.