INDIVIDUAL MODERATORS OF THE TASK DESIGN, JOB ATTITUDE RELATIONSHIP: A NOTE ON MEASUREMENT

Many job design studies incorporate a direct measure of individual differences to test the contingency hypothesis of Hulin and Blood. This study examines two basic approaches to the measurement of potential moderators of the relationship between job design and job satisfaction. One method involved independent determination of a work value system, and predicted job satisfaction of subjects in an experimental study on job enlargement. The second method, strength of higher order needs, did not yield the same results as did the first. This difference shows that choice of an operational definition of individual differences affects research findings. For purposes of personnel selection or placement, the work values approach (method one) appears to be more useful than the need strength measure (method two).     

Real Impacts of Intra-European Exchange Rate Variability: A Case for EMU?

Intra-European exchange rate variability has significant economic costs. VAR causality tests show that higher short-run variability of exchange rates against other EU currencies was associated with higher unemployment, less employment, and lower investment for most EU member countries. Robustness tests show that this result holds up in the presence of both policy instruments that might have had an impact on exchange rate variability and cyclical variables that might have influenced labor demand. A model that incorporates the option value of waiting suggests that even short-term spikes in volatility exert a strong impact on investment and labor markets.     

A Note on Licensing and the Market for Real Estate Agents

This study develops and estimates a model of real estate agent demand and supply. The estimates of the model show that the licensing examination pass rate and the educational requirements set by state licensing boards affect the numbers and incomes of real estate agents. The study further shows that the demand for agents is related to economic activity in the housing market and that the supply of agents is very elastic with respect to agent earnings.     

The US Antitrust System and Recent Trends in Antitrust Enforcement

This paper provides a survey of recent research on the US antitrust system. First we provide an overview of the US antitrust system, describing the roles of the US Department of Justice, the Federal Trade Commission and case law. Second, we provide a new econometric trend analysis on the enforcement of US antitrust law, showing that (1) enforcement demonstrates some trend behavior, as well as comovement with business cycles; (2) the time series of antitrust cases demonstrates two distinct episodes, which we characterize as 'pre-deregulation' and 'post-deregulation;' (3) the time series of government antitrust filings leads the time series of private antitrust filings. Finally, we describe recent economic research relevant to the area of antitrust and the impact of this research on US antitrust policy.     

The Employment Interview: A Review of Recent Research and Recommendations for Future Research

The past decade has seen continued interest in the employment interview, with several changes in research emphasis. The present review is a comprehensive examination of interview research conducted since Harris last reviewed this literature. We begin with a review of the traditional areas of interview research: reliability, validity, structured interviews, interviewer differences, equal employment opportunity issues, impression management, and decision-making processes. Next, we review and discuss more recent developments in interview research such as the use of the interview as a means of assessing person–organization (P–O) fit and applicant reactions to the employment interview. Throughout the review, suggested topics for future research are discussed.     

Shifting Trends in Semiconductor Prices and the Pace of Technological Progress

Business Economics - This paper examines three questions motivated by previous research on semiconductors and productivity growth: Why did semiconductor prices fall so rapidly in the second half of...     

RARE SHOCKS,GREAT RECESSIONS

We estimate a DSGE (dynamic stochastic general equilibrium) model where rare large shocks can occur, by replacing the commonly used Gaussian assumption with a Student's t‐distribution. Results from the Smets and Wouters (American Economic Review 2007; 97 : 586–606) model estimated on the usual set of macroeconomic time series over the 1964–2011 period indicate that (i) the Student's t specification is strongly favored by the data even when we allow for low‐frequency variation in the volatility of the shocks, and (ii)) the estimated degrees of freedom are quite low for several shocks that drive US business cycles, implying an important role for rare large shocks. This result holds even if we exclude the Great Recession period from the sample. We also show that inference about low‐frequency changes in volatility—and, in particular, inference about the magnitude of Great Moderation—is different once we allow for fat tails. Copyright © 2014 John Wiley & Sons, Ltd.     

Heritage tourism clusters along the borders of Mexico

This article seeks to find potential heritage tourism clusters in border areas. Literature about tourism destinations is essentially focused on administrative-bound areas, while little attention has been paid to functional regions. The research is based on a methodological exercise to contribute to this debate by analyzing the case of three border regions between Mexico, the USA, Guatemala and Belize, respectively. These borders have never been static but have changed throughout history, to the present day situation. It is argued that these changes have implications for the potential development of heritage tourism. The results identify a number of cross-border clusters and corridors in these areas with different levels of tourism underdevelopment, mainly because of political or legal restrictions. The results of this study contribute to an improved understanding of borderland heritages and cross-border regional clusters in the context of tourism.