State dependent pricing, invoicing currency, and exchange rate pass-through

We analyze exchange rate pass-through and volatility of import prices in a dynamic framework where firms are subject to menu costs and decide on price adjustments in response to exchange rate innovations. The exchange rate pass-through and import price volatility then depend on the invoicing currency in combination with functional forms of cost and demand functions. In particular, there is lower pass-through, less frequent price adjustments, and lower price volatility when prices are set in the importer's currency than when prices are set in the exporter's currency.     

The Effect of Entrepreneurial Activity on National Economic Growth

Entrepreneurial activity is generally assumed to be an important aspect of the organization of industries most conducive to innovative activity and unrestrained competition. This paper investigates whether total entrepreneurial activity (TEA) influences GDP growth for a sample of 36 countries. We test whether this influence depends on the level of economic development measured as GDP per capita. Adjustment is made for a range of alternative explanations for achieving economic growth by incorporating the Growth Competitiveness Index (GCI). We find that entrepreneurial activity by nascent entrepreneurs and owner/managers of young businesses affects economic growth, but that this effect depends upon the level of per capita income. This suggests that entrepreneurship plays a different role in countries in different stages of economic development.     

Community college supervisors and their subordinates: A quantitative investigation of personality temperament and leader‐member exchange

Community college leadership is facing a crisis fueled by leaders retiring and student enrollment that outpaces budget growth. The purpose of this study was to better understand the leadership dynamics of community college supervisors and direct subordinates by examining the relationship bgetween leader‐member exchange (LMX) and personality temperament. Data from the Supervisor Leader‐Member Exchange Multidimensional Model (SLMX‐MDM) survey was used to determine LMX total within four subscales: affect, loyalty, contribution, and professional respect. Participants' temperaments were determined by the Keirsey Temperament Sorter II (KTS‐II). Research questions focused on whether differences in LMX existed among groups of supervisor–subordinate dyads that were categorized according to temperament similarity: 1) identical temperament (e.g., both supervisor and subordinate are SJ), 2) one letter (e.g., SP and SJ), or 3) no letters in common (e.g., NF and SP). The 50 participating dyads were selected through proportionate stratified sampling. Results from one‐way ANOVAs showed significant differences among groups with respect to total LMX, contribution, and professional respect.     

Professionalisierungs- und Entwicklungsstrategien für ein innovatives Personalmanagement

Based on the fact of an increasing dynamic and complexity of environmental changes organizations are confronted with huge challenges not least concerning Human Resource Management (HRM). Therefore the present paper deals with the concrete arrangement of the HRM of organizations in a situation like those described. Starting with the results of an empirical study, different orientations of HRM could be discovered in the organizations reviewed. Three types of organizations were found. Depending on these types HRM instruments are emphasized differently as to competency development inside the organization. The types can be described as follow: 1^st the personal appraisal type, 2^nd the personnel planning type and 3^rd the personnel selection type. Taking this differentiation as a starting point, divergent preferences in the frequencies of usage and the evaluation of HRM instruments can be assessed. Potentials and thresholds of organizational learning in HRM are discussed finally against the background of this knowledge.     

An evaluation of the potential to develop inbound Japanese tourism to Northeast Scotland using the Thomas Blake Glover connection

This research explores the strength of the potential niche market associated with the Japanese's connection to Thomas Blake Glover. The study involved research to ascertain whether there is sufficient demand in Japan to sustain a heritage attraction or trail built up around Blake Glover in Northeast Scotland, as a means to counteract the decline of primary sector industries in the area. More specifically, the research set out to identify strategies to optimise the Blake Glover connection as a resource for Northeast Scotland. The research also highlights issues of significance to the wider Scottish tourism product in terms of attempting to attract the Japanese market to Scotland. Copyright © 2009 John Wiley & Sons, Ltd.     

Doha Merchandise Trade Reform: What Is at Stake for Developing Countries?

The LINKAGE model of the global economy and the latest GlobalTrade Analysis Project (GTAP) database (version 6.05) are usedto examine the impact of current merchandise trade barriersand agricultural subsidies and possible reform outcomes of theWorld Trade Organization’s (WTO’s) Doha DevelopmentAgenda. The results suggest that moving to free global merchandisetrade would boost real incomes in Sub-Saharan Africa proportionatelymore than in other developing countries or in high-income countries,despite the terms of trade loss in parts of that region. Particularattention is given to agriculture, as farmers constitute thepoorest households in developing countries but the most assistedin rich countries. Net farm incomes would rise substantiallyin Sub-Saharan Africa and other developing country regions,alleviating rural poverty. Partial liberalization could movethe world some way toward those desirable outcomes, the moreso the more developing countries themselves cut applied tariffs,particularly on agricultural imports.     

On consistency of redescending M-kernel smoothers

M-estimators and M-kernel estimators with a redescending ψ-function are not in general consistent. This is often handled by means of coupling the estimator to a consistent one. Coupling the estimator to the (inconsistent) starting point improves the jump preserving properties. However, the consistency depends heavily on the shape of the density of the residuals. This paper shows inconsistency under convenient conditions as well as consistency – even at jump points – under somewhat stronger conditions. Research supported by the Friedrich Ebert Foundation and by grant Mu 1031/4-1/2 of the Deutsche Forschungsgemeinschaft     

The growth of China and India: implications and policy reform options for Malaysia

This study explores the trade‐related impacts of rapid growth of China and India on the Malaysian economy and evaluates policy options to better position Malaysia to take advantage of these changes. Higher growth in China and India is likely to raise Malaysia's national income and to expand Malaysia's natural resource and agricultural exports, while putting downward pressure on exports from some manufacturing and service sectors. Increases in the quality and variety of exports from China and India are likely to increase substantially the overall gains to Malaysia. The expansion of the natural resource sectors and the contraction of manufacturing and services reflect a Dutch‐disease effect that will raise the importance of policies to facilitate adaptation to the changing world economy and improve competitiveness. Most‐favoured‐nation (MFN) liberalisation would increase welfare, and, by increasing competitiveness, raise output and exports of key industries. Preferential liberalisation with India and completely free trade with China would provide greater market access gains than MFN reform, but neither would be as effective in increasing income as MFN liberalisation, and free trade agreements would lead to greater competitive pressure on many of Malaysia's industries than MFN liberalisation. Increased investments in education and infrastructure could boost manufacturing and services sectors in Malaysia, while improving trade logistics would benefit sectors with high transport costs, including the agricultural and resource‐based industries.     

Intergenerational transmission of educational attainment in Austria

Up to now, there exist several studies documenting the educational expansion in Austria in the 20th century but only few studies measureing the degree of persistence of educational attainment over generations. Furthermore, for Austria there are no internationally comparable persistence-measures of educational attainment available. This study aims to fill this gap and delivers key-measures for intergenerational persistence of educational attainment. The Austrian Household Survey on Housing Wealth includes information on socioeconomic characteristics of respondents and their parents. The results demonstrate strong persistence in educational attainment in Austria. Using uni- as well as multivariate econometric techniques and a Markovian approach we show that educational persistence decreased over time. Overall, Austria ranks third in terms of intergenerational educational attainment persistence among a number of european countries and the US. Our results therefore allow to question the significance of meritocratic values and equal opportunity for educational advancement in the Austrian society compared to other European countries and the USA.