The long and short of asking questions about income: a comparison using data from Hungary

A lot of research on income mobility and income inequality is based on survey questions about income. Various question formats are being used. Researchers seem to assume that the actual format used delivers the best estimate of the “true” income. However, surprisingly little empirical support is available for this claim. We implemented an experimental design using the short and long versions of income questions in a Hungarian survey. Results show an overall positive difference between the long and short version. The differences are related to the income components (wages and salaries, transfers, and assets), and respondent characteristics, controlling for the effect of the order of the two versions of income questions. Based on the results, we provide some recommendations for implementing income questions in surveys.     

Sectoral Effects of Monetary Policy: The Evidence from Publicly Traded Firms

This article examines the impact of monetary policy on net sales of publicly traded firms in various sectors of the U.S. economy. We find that monetary policy has a heterogeneous effect on firms in different industries, with the strongest effect on firms in Retail and Wholesaling. Balance sheet characteristics, especially size, influence the impact of policy. Larger firms in several industries are able to mitigate the effect of policy. We find mixed results for firms' working capital, short‐term debt ratio, and leverage ratio with respect to the operation of the credit channel of monetary transmission mechanism.     

Managing aging workers: a mixed methods study on bundles of HR practices for aging workers

Since abilities and motives change with age and common human resource (HR) practices might be less suitable for aging employees, scholars and practitioners are currently challenged to find new ways of managing aging workers and motivating them to continue working. Therefore, this mixed methods study builds on literature on lifespan development and literature on HR practices in proposing four new bundles of HR practices for aging workers: accommodative, maintenance, utilization and development HR bundles. Since we draw on separate bodies of literature to propose new constructs, we use a mixed methods design in order to triangulate our findings. The proposed HR bundles were explored with a qualitative interview study among HR managers, line managers and employees in the Dutch construction sector, and tested with a quantitative survey study among Dutch government workers. Both studies confirmed that HR practices for aging workers can be classified into accommodative, maintenance, utilization and development HR bundles of practices.     

Offshoring and firm innovation: The moderating role of top management team attributes

This study attempts to increase the understanding of how offshoring influences the introduction of new products and services. Focusing on the offshoring of those business functions that provide direct knowledge inputs for innovation (i.e., production, R&D, and engineering), we propose that offshoring has an inverted U‐shaped influence on firm innovativeness. Additionally, we provide an upper echelon contingency perspective by considering the moderating role of two top management team (TMT) attributes (i.e., informational diversity and shared vision). Using a cross‐industry sample with lagged data, we find that offshoring has an inverted U‐shaped influence on firm innovativeness and that this relationship is steeper in firms with high TMT informational diversity and in firms with low TMT shared vision. Copyright © 2012 John Wiley & Sons, Ltd.     

Cost-effectiveness of sequenced treatment of rheumatoid arthritis with targeted immune modulators

Aims: To determine the cost-effectiveness of treatment sequences of biologic disease-modifying anti-rheumatic drugs or Janus kinase/STAT pathway inhibitors (collectively referred to as bDMARDs) vs conventional DMARDs (cDMARDs) from the US societal perspective for treatment of patients with moderately to severely active rheumatoid arthritis (RA) with inadequate responses to cDMARDs.

Materials and methods: An individual patient simulation model was developed that assesses the impact of treatments on disease based on clinical trial data and real-world evidence. Treatment strategies included sequences starting with etanercept, adalimumab, certolizumab, or abatacept. Each of these treatment strategies was compared with cDMARDs. Incremental cost, incremental quality-adjusted life-years (QALYs), and incremental cost-effectiveness ratios (ICERs) were calculated for each treatment sequence relative to cDMARDs. The cost-effectiveness of each strategy was determined using a US willingness-to-pay (WTP) threshold of $150,000/QALY.

Results: For the base-case scenario, bDMARD treatment sequences were associated with greater treatment benefit (i.e. more QALYs), lower lost productivity costs, and greater treatment-related costs than cDMARDs. The expected ICERs for bDMARD sequences ranged from ～$126,000 to $140,000 per QALY gained, which is below the US-specific WTP. Alternative scenarios examining the effects of homogeneous patients, dose increases, increased costs of hospitalization for severely physically impaired patients, and a lower baseline Health Assessment Questionnaire (HAQ) Disability Index score resulted in similar ICERs.

Conclusions: bDMARD treatment sequences are cost-effective from a US societal perspective.     

Risk assessment in the international food safety policy arena. Can the multilateral institutions encourage unbiased outcomes?

Two institutions provide multilateral venues for countries to discuss food safety measures at the international level: the Codex Alimentarius Commission (Codex) and the World Trade Organization. Both institutions encourage their Members to base food safety standards on scientific evidence.     

The Return of the State: Neocollectivism,Agrarian Politics and Images of Technological Progress in the MAS Era in Bolivia

The Movement towards Socialism (MAS) party promised to break with neoliberal politics when it rose to power in Bolivia in 2006. Using the concept of neocollectivism to characterize MAS agrarian politics, this paper examines one of its key instruments for achieving rural development: the state enterprise EMAPA. This state company, which supports small producers, envisions a new agrarian structure of production and commercialization, one that will break the power of the Santa Cruz–based agro‐industrial elite. Drawing on a discussion of the mechanisms of governance employed by this state entity, we argue that new complexities in state–civil society relations and a low state capacity have constrained its ability to shift power relationships between the state and the agro‐industrial elites. Instead of reducing the dependency of small producers on agro‐industrial capital, the Bolivian state has increased it, thereby undermining its goal of redistribution. The paper also analyses different moments of politicization and depoliticization in the intervention process arising from the demand for political change, as well as for technically efficient and profitable agricultural production.     

School district consolidation: Market concentration and the scale‐efficiency tradeoff

Consolidation is often proposed as a strategy for increasing school district quality without increasing educational funding. However, if consolidation reduces competition in the local school market and reduces efficiency, any savings from exploiting economies of scale may be lost to increased inefficiency. We use a stochastic cost function to investigate these effects for districts in Texas. We find important economies of scale, but we also find that increased market concentration leads to increased cost inefficiency. Finally, we illustrate the practical importance of these two potentially offsetting factors in a simulation that considers consolidating Texas school districts to county‐level districts. We find that failure to consider the effect on competition can lead to large overestimates of the benefits of consolidation.     

PROBLEMS OF INTERNATIONAL COMPARISONS OF NATIONAL ACCOUNTING AGGREGATES BETWEEN COUNTRIES WITH DIFFERENT ECONOMIC SYSTEMS

This paper discusses a number of problems arising in comparisons of levels of national accounting aggregates between countries with different economic systems, notably between countries with market economies and countries with centrally planned economies. It considers problems arising from differences in the national accounting concepts used and problems arising from institutional differences, both of which are viewed as relating to the concepts on which the comparison should be based and the adjustment of national data to these concepts. The final section considers index number problems.