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<strong>ELM-NDN</strong> – ELM' s National Disbursing Network (NDN), which provides consolidated disbursement services to schools.
coupon (E4, G1)<br />1 Originally the warrant which had to be presented to obtain interest on a bond.<br /> 2 The nominal rate of interest, e.g. ?5 per ?100 of nominal stock. It is to be distinguished from the bond's YIELD, which will be higher than the coupon if the market price of the bond is lower than its nominal price, and vice versa.
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Bergson, Abram, 1914- (B3)<br />US economist educated at Johns Hopkins and Harvard Universities. After wartime experience from 1942 to 1945 as chief of the Russian Economic Subdivision of the US Office of Strategic Services, he returned to academic life and has been a professor at Harvard since 1956. In 1938, he created the new welfare economics by asserting that a social welfare function can be established by attaching weights to each individual's welfare function: this rejected the earlier CARDINAL UTILITY approach. Also, he introduced the distinction between 'efficiency' and 'equity', applying it to an analysis of the individual income effects of economic change. He has applied his welfare analysis to many areas of economics, including MARKET sociALISM and monopoly. Also, he became a leading US authority on the Soviet economy.<br /> <br /><em>Reference</em><br />Bergson, A. (1964) Economics of Soviet Planning, New Haven, CT: Yale University Press. - (1966) Essays in Normative Economics, Cambridge, :MA: Harvard University Press.<br /> - (1982) Welfare Planning and Employment: Selected Essays in Economic Theory, Cambridge, MA: MIT Press.
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jobs-based analysis (JO)<br />A mixed approach to the study of work, wages and labour markets using a cluster of theories, including TOURNAMENT MODELS, hierarchies, HEDONIC WAGE analysis, job investment, insurance and work sharing.<br /><em>Reference</em><br />Lazear, E.P. (1995) 'A jobs-based analysis of labor markets', American Economic Review 85: 260-5.
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