An investigation into some aspects of the efficiency of low-temperature laundering

The purpose of this research was to investigate the efficiency of laundering at low and recommended water temperatures using a heavy-duty biological detergent and a low-temperature detergent. The effectiveness of the process was measured in terms of the degree of stain/soil removal from laundered garments, and in the removal and transfer of bacteria from infected test pieces. The results indicate that with both detergents a reduction in washing efficiency occurs as the temperature of laundering is decreased, except when the difference between the recommended and low water temperature is small. Evidence was also obtained that shows that reducing wash temperatures decreases the degree of disinfection and increases the cross-infection of articles washed in the same load.     

Who Is in Control? The Role of Self‐Perception,Knowledge, and Income in Explaining Consumer Financial Behavior

The current research examines the relationship between consumer financial knowledge, income, and locus of control on financial behavior. Ethnicity is included as a potential moderator of the effects of these three variables on financial behavior. Findings suggest that consumers’ propensity to save, budget, and control spending depends partly on their level of perceived control over outcomes as well as knowledge and financial resources. Evidence of race and ethnicity as moderators is mixed.     

Organizational differences in recruiting older department store workers in the US

Department store retailers need a reliable and stable labour resource, particularly for entry-level positions. Older workers may be an alternative labour pool for these positions. The goal of this study is to learn whether department store attributes and recruitment representative characteristics affect the use of formal and informal recruiting strategies in developing an older applicant pool. The findings indicate that small sales volume stores used both formal and informal recruiting practices significantly less than medium or large stores. Further, younger respondents and human resource support staff relied upon informal methods more than formal ones. Finally, highly educated recruiting representatives used formal recruiting methods more than those with less education.     

The Information Value of the Stress Test

We investigate whether the “stress test,” the extraordinary examination of the 19 largest U.S. bank holding companies conducted by federal bank supervisors in 2009, produced useful information for the market. Using standard event study techniques, we find that the market had largely deciphered on its own which banks would have capital gaps before the stress test results were revealed, but that the market was informed by the size of the gap; given our proxy for the expected gap, banks with larger capital gaps experienced more negative abnormal returns. Our findings are consistent with the view that the stress tests produced valuable information about banks.     

THE WORLD ECONOMY: ANALYSIS AND PROSPECTS

In this chapter of the review, Oxford Economic Forecasting providesan analysis of the current world economic climate and sets outthe main features of its latest forecast. Section I gives asummary of world prospects. The UK forecast is covered in moredetail in Section II. Part III examines an issue of some importancefor the world economy: the effects of lower oil prices.     

Identification of New Keynesian Phillips Curves from a Global Perspective

This paper is concerned with the estimation of New Keynesian Phillips Curves (NKPC) and focuses on two issues: the weak instrument problem and the characterization of the steady states. It proposes some solutions from a global perspective. Using a global vector autoregressive (GVAR) model steady states are estimated as long-horizon expectations and valid instruments are constructed from the global variables as weighted averages. The proposed estimation strategy is illustrated using estimates of the NKPC for eight developed industrial countries. The GVAR generates global factors that are valid instruments and help alleviate the weak instrument problem. The steady states also reflect global influences and any long-run theoretical relationships that might prevail within and across countries in the global economy. The GVAR measure of the steady state performed better than the HP measure, and the use of foreign instruments substantially increased the precision of the estimates of the output coefficient.