Cyclical and causal patterns of inflation and GDP growth

Empirical foundations for the view that high inflation impairs GDP growth are examined using annual data for 115 countries over the period 1960–1995. Taking into account country heterogeneity and time-specific symmetric shocks, as well as endogeneity of inflation and dynamics of GDP growth, dynamic panel-data models of the effects of inflation on growth are estimated. No evidence is found supporting the view that inflation is in general harmful to GDP growth. On the other hand, there is a negative correlation between contemporaneous intra-country inflation and growth for periods characterized by positive oil-price shocks.     

Comparing means of several treatments with a control when one observation exists per treatment

In an one-way analysis of variance with standard assumptions suppose that only one observation exists per treatment. In addition, assume that one of the treatments is a control group. Because of insufficient observations, the variance of the populations cannot be estimated and hence the usual methods for comparing treatments with the control group fail. In this paper, we present a method to compare treatments with a control when one observation exits per treatment. An algorithm is given to estimate the critical values of the test. The power of the test is investigated by a Monte Carlo simulation; numerical studies show that when there is a treatment whose mean is close to the control group, the power of the test is satisfactory.     

Are Iranian consumers poised to “buy American” in a hostile bilateral environment?

The current bilateral relationship between the United States and Iran is fraught with intense political and military tension revolving around the nuclear issue in Iran. Open hostility between the two governments has recently spilled over into national, regional, and global forums. Despite this turmoil, the Iranian consumer is actively engaged in the global marketplace, buying goods from around the world. Our research spotlights Iranian consumers’ attitudes toward importing and buying foreign-made products, with a special focus on American-made products. Our 2006 survey of 902 Iranian consumers suggests that Iranians are very open, but not exclusively so, to the purchase of foreign-made and American-made products. We also found the political-military bilateral tension or animosity between the Iranian and American governments has not transferred to the Iranian consumer. The Iranian consumers’ openness to foreign-made (including American-made) goods, coupled with low consumer animosity vis-à-vis the United States from Iranian consumers, provides an opportunity for American and Western multinational companies to actively compete for and engage with the Iranian consumer in the Iranian marketplace.     

Pakistan's agricultural exports,determinants and its potential: an application of stochastic frontier gravity model

The most important and imperative objective of the developing nations is rapid economic growth and exports are generally considered as an engine for economic growth. Being an agro-based economy, agriculture exports play pivotal role not only in economic growth but also in socioeconomic uplifting. This study aims at evaluating main determinants of agricultural exports of Pakistan by applying stochastic frontier gravity model over the period of 1995–2014 for a sample of 63 countries. In addition, the study also analyzes whether there is any untapped export potential between Pakistan and the trading partners in agriculture sector. The results confirm the consistency of gravity model for agriculture exports of Pakistan. Likewise, the estimates also point out that bilateral exchange as well as tariff rates also effect agriculture exports. The study has also incorporated the effect of common border, common culture, colonial history and preferential trading agreements by including their respective dummies. The study confirms the significance of each factor, except common language, with their respective magnitude. Moreover, technical efficiency estimates reveal that Pakistan has great export potential with neighboring, Middle Eastern and European countries.     

Celebrity Endorsements in Advertisements and Consumer Perceptions: A Cross-Cultural Study

ABSTRACT

We studied consumer perceptions of celebrity endorsements from a cross-cultural perspective. In empirically examining consumer perception of celebrity endorsement, we used Hofstede's cultural dimensions to develop research propositions and examined these propositions through focus group discussions involving consumers from India and the United States. Findings indicated that specific differences and similarities exist in how consumers across India and the United States perceive celebrity endorsements. There is a positive, although moderate, impact of celebrity endorsements on attention and exposure of consumers. Implications for marketers as well as suggestions for future research are discussed.     

测试H.264/AVC视频的鲁棒性传输的宏块分配映射

H.264/AVC视频压缩标准给易出错网络的视频鲁棒性传输过程中提供了一些误差恢复技术.灵活的宏块排序(FMO)是其中之一,它采用宏块分配映射(MBAmap)来分离框架中可能出现的误差.本文将提出一个新的测试MBAmap的方法.我们采用这种技术来测试MBAmaps从而支持在解码过程中的误差隐藏并且增强接收视频的主客观质量.     

Child Labour Use and Economic Growth: An Econometric Analysis

We present a simple dynamic theory of child labour, human capital formation, and economic growth that is consistent with some of the main features of child labour and economic development. The model supports a number of testable hypotheses, which we investigate econometrically in a systems approach. Using panel data from 64 countries in the period 1960–1980, the econometric results match the theory well. The incidence of child labour is negatively related to parental human capital and education quality, but is positively correlated with education cost. Further, countries with higher amounts of child labour tend to have lower stocks of human capital in the future. There is also a convergence phenomenon between the level and growth of human capital. The lower the current stock of human capital, the higher is current child‐labour use and the faster is the growth rate of human capital.     

Inspiring employees' ecological behaviors: The roles of corporate environmental strategy,biospheric values,and eco-centric leadership

The consequences of environmental degradation have steered organizations to promote pro-ecological behaviors among their employees, and achieving this effectively is paramount for business and environmental sustainability. Applying a multilevel integrated approach, this study investigates the impact of corporate environmental strategy, biospheric values, and eco-centric leadership on employees' ecological behaviors. A self-administered questionnaire was used to collect data from 289 employees from a cross section of industries in Bangladesh. The findings reveal the significant influences of environmental strategy and biospheric values on employees' ecological behaviors as well as the moderating role of eco-centric leadership. The study also provides some significant insights for formulating environmental strategy and inspiring employees' ecological behaviors in organizational contexts. Theoretical and managerial implications as well as future research directions have also been provided.     

Entry,growth, and survival: The new learning on firm selection and industry evolution

This paper tries to shed some light on the seeming paradox posed by the findings in the industrial organization literature that (1) the bulk of firms in an industry are not only very small, but also sufficiently small so that they are operating at a sub-optimal scale of output, and (2) entrepreneurs are apparently not deterred from starting new firms even in industries where scale economies play an important role. A dynamic view of the process of firm selection and industry evolution is that new firms typically start at a very smal scale of output. Because this level of output may be sub-optimal, the firm must grow in order to survive. The empirical evidence supports such a dynamic view of the evolutionary nature of industries. Viewed through a dynamic lens, the often-observed asymmetric size distribution of firms becomes more understandable. The persistence of an asymmetric firm-size distribution skewed towards small enterprises presumably reflects a continuing process of entry into industries and not necessarily the survival of such small and suboptimal enterprises over a long period of time.     

Survival of Newly Founded Businesses: A Log-Logistic Model Approach

Based on a longitudinal database we test the "liability of adolescence" hypothesis which states that new firm hazard rates follow an inverted U-shaped pattern. That is, the hazard rate is low for the initial period; the end of adolescence is marked by a hazard maximum, from which the rate declines monotonically. We use a log-logistic model which shows that the "liability of adolescence" argument describes the hazard rates of new establishments for all two and three-digit industries fairly well. Further, the rate shows that the desegregation of industries matters, and considerable differences are found within and across two and three-digit low-, moderate- and high-tech industries. In assessing the effect of market environment conditions on risk we find that risk to be elevated in a relatively large number of two-digit low- and high-tech industries in the presence of scale economies, but it is substantially reduced in moderate-tech industries. By contrast, the hazard rate tends to be reduced for quite a large number of three-digit low-, moderate- and high-tech industries in comparison with the two-digit industries, indicating a longer adolescence. The influence of start-up size in reducing the hazard rate is apparently similar between two and three digit low-, moderate- and high-tech industries. The impact of market growth on the risk of failure is not much different for both two and three-digit low-, moderate- and high-tech industries.