Back to Basics: Remittances in the Keynesian Macroeconomic Framework

This paper examines a remittance multiplier based on the short-run Keynesian equilibrium approach and shows how income may be affected by remittance inflows. We explore this through the equilibrium in the goods and money markets, where remittances can affect both consumption and the demand for real money balances. We present this simple theoretical model utilizing a standard Keynesian framework. The short-run Keynesian equilibrium approach provides insight into how remittances affect output and income, and its potential multiplier effects. The model used is indicative of a positive relationship between the marginal propensity to consume out of remittances and the multiplier. The framework also shows that remittances will have a greater impact if its marginal propensity to consume is greater than that for standard disposable income.     

Cuba,Trade Dependency and the GATT/WTO System

Cuba sought economic independence from the U.S. and its reliance on sugar exports after its 1959 revolution, but subsequently developed new dependency relationships. In the meantime, Cuba remained inside the General Agreement on Tariffs and Trade (GATT), despite conducting most of its trade outside it. This paper explores the political economy of Cuba’s participation in the GATT and later the World Trade Organization (WTO). Documents show that Cuba sought to use its participation to gain new markets and influence in the developing world. While Cuba has gained little economically from its participation, in recent years it has diversified its exports and trade partners, and its trade interests now align more closely with WTO rules. Economic reforms will be necessary in order for Cuba to benefit.     

Corruption and Its Effects on FDI: Analysing the Interaction Between the Corruption Levels of the Home and Host Countries and Its Effects at the Decision-Making Level

This study furthers our understanding of how corruption affects the decision-making process of allocating foreign direct investment. Drawing on the responses of 28 managers in charge of establishing operations in a highly corrupt host country, we argue that those firms based in home countries with low levels of corruption are more proactive in preparing to face corruption abroad than those based in countries with high corruption levels. This means that firms from less corrupt home countries have strategies in place to deal with high corruption abroad. This finding is based on the fact that these firms have stronger pressures to not engage in corruption from their home stakeholders. Also, these firms might not have the experience of dealing with corruption at home, which hinders their potential to deal with corruption abroad. On the other hand, those firms based in highly corrupt home countries do not have clear strategies to deal with corruption abroad. This assertion is based on the fact that these firms might have familiarity in dealing with corruption and thus, might not see it as an obstacle to operating abroad.     

Stochastic non-smooth envelopment of data for multi-dimensional output

The proposed method of Stochastic Non-smooth Envelopment of Data (StoNED) for measuring efficiency has to date mainly found application in the analysis of production systems which have exactly one output. Therefore, the objective of this paper is to examine the applicability of StoNED when a ray production function models a production technology with multi-dimensional input and output. In addition to a general analysis of properties required by a ray production function for StoNED to be applicable, we conduct a Monte Carlo simulation in order to evaluate the quality of the frontier and efficiencies estimated by StoNED. The results are compared with those derived via Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA). We show that StoNED provides competitive estimates in regard to other methods and especially in regard to the real functional form and efficiency.     

Modularization of hybrid censoring schemes and its application to unified progressive hybrid censoring

In this paper, a structural analysis of hybrid censoring models is presented. This new modularization approach to hybrid censoring models enables a convenient derivation of distributional results. For instance, it allows to derive the exact distribution of the MLEs under an exponential assumption for very complex hybrid scenarios. In order to illustrate the benefit of this idea, we apply it to four new unified progressive hybrid censoring schemes. They are extensions of already proposed unified Type-I/II/III/IV hybrid censoring schemes to progressively Type-II censored data. The resulting analysis shows that the modularization approach provides a powerful, efficient, and elegant tool to study even more complex hybrid censoring models.     

Smart Meter-Angebote: Eine empirische Untersuchung von Kundenpräferenzen

The implementation of smart meters in German households by 2032 is a major step in the transition towards an intelligent and connected energy system. Despite of federal legislation providing a structured plan for the nationwide smart meter rollout including basic product requirements, actors within the energy market have the opportunity to take an active part in shaping the market through appealing product offers and hence to create competitive advantage. This study identifies relevant features of smart meters from literature und business practice, and measures customer’s preferences for these features. Results indicate predominantly positive customer evaluations of smart meter features, amongst which the availability of consumption data, the installation price and rental charges as well as time variable tariffs contribute most to overall utility of smart meters. Finally, findings suggest targeting customers by defining strategies to address privacy concerns, to educate about saving potentials as well as to create differentiated pricing schemes.     

Is abusive supervision an absolute devil? Literature review and research agenda

Abusive supervision has received increasing attention in the field. However, few studies have qualitatively reviewed its latest developments. The current paper reviews 48 studies on abusive supervision using content analysis. We identify six emerging trends of abusive supervision, including inconsistency of abusive behaviors, comparison between perceived and objective behaviors, reciprocity, team-level climate, coworker effects, and comparisons between theoretical perspectives. Based on a review of those six trends and some emerging findings, we identify and validate the possible positive effects of abusive supervision from an integrated analysis. We also determine the moderating role that Asian culture plays in differentiating the negative and positive effects of abusive supervision. Specifically, we identify the differences between Asian and Western cultures, and then explore the moral mechanisms (i.e., violation of moral standards, conflict of moral principles) through which abusive supervision may exert positive effects in the Asian cultural context. Finally, we clarify our theoretical implications and provide suggestions for future research.     

The National Collegiate Athletic Association Cartel: Why it Exists,How it Works,and What it Does

In this essay we consider why American colleges and universities participate in big-time commercialized intercollegiate sports, and how sports came to play such a prominent role on American college and university campuses. We also review how the National Collegiate Athletic Association (NCAA) developed as a body to regulate player safety and transformed itself into an economic regulator, the means by which the NCAA attempts to maintain its control, increase revenues, and reduce costs for college sports programs. We also examine how the organization succeeds in the face of institutional characteristics that imply that its cartel activities would be doomed. Finally, we speculate on what changes might be on the horizon for the NCAA and college athletics.