Macroprudential policy in a currency union

Review of World Economics - The past 20 years in Europe have seen large swings in real and financial markets, and sudden stops of capital flows have exposed the fault lines of the European...     

Consumption volatility and financial openness

Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this article, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial openness, we find evidence that greater financial openness has been associated with lower consumption volatility. However, volatility of consumption relative to output has not declined.     

It Takes Three to Tango: Exploring the Interplay among Training Intensity,Job Autonomy,and Supervisor Support in Predicting Knowledge Sharing

This study explored whether the relationship between perceived training intensity and knowledge sharing is prone to combined moderating influences. We operationalized perceived training intensity as a challenge stressor, in accordance with the challenge‐hindrance framework of work stressors. The results of a study of 129 employees from three Norwegian service industries revealed a positive relationship between perceived training intensity and supervisor‐rated knowledge sharing for employees reporting high levels of perceived job autonomy and high levels of perceived supervisor support. In contrast, we found a negative relationship between perceived training intensity and supervisor‐rated knowledge sharing for employees reporting high levels of perceived job autonomy and low levels of perceived supervisor support. These findings suggest that supervisors are of vital importance in facilitating knowledge sharing among employees in settings where developmental challenges are prevalent and perceptions of job autonomy are high. Implications for future research and practice are also discussed. © 2014 Wiley Periodicals, Inc.     

Has Labor Income Become More Volatile? Evidence from International Industry‐Level Data

Changes in labor market institutions and the increasing integration of the world economy may affect the volatility of capital and labor incomes. This article documents and analyzes changes in income volatility using data for 11 industrialized countries, 22 industries and 35 years (1970–2004). The article has four main findings. First, the unconditional volatility of labor income has declined in parallel to the decline in macroeconomic volatility. Second, the industry‐specific, idiosyncratic component of labor income volatility has hardly changed. Third, cross‐sectional heterogeneity is substantial. If anything, the labor incomes of high‐ and low‐skilled workers have become more volatile relative to the volatility of capital incomes. Fourth, the volatility of labor income relative to the volatility of capital income declines in the labor share. Trade openness has no clear‐cut impact.     

Disentangling barriers to internationalization

Abstract. Recent literature on multinational firms has focused on low productivity as a barrier to the internationalization of firms. But labour market frictions or financial constraints may also hamper internationalization. In order to assess the importance of these barriers, we present new empirical evidence on the extensive and intensive margin of exports and foreign direct investment (FDI) based on micro‐level data of German firms. First, we find a positive impact of firm size and productivity on firms’ international activities. Second, labour market frictions can constitute barriers to foreign activities. Third, self‐reported financial constraints have no impact on firms’ internationalization decisions. JEL classification: F23, G2     

Leader‐Member Exchange Relationships and Follower Outcomes: The Mediating Role of Perceiving Goals as Invariable

In the present study, we investigated whether perceiving goals as invariable mediated the link between leader‐member exchange (LMX) relationships and role overload, turnover intention, and work performance. Perceiving goals as invariable refers to the extent to which followers believe that the goals in a performance management system represent the absolute standards that they must meet without exception, even if they think other factors are more important (e.g., situational factors or factors that are not associated with goals). In Study 1, perceiving goals as invariable mediated the relationships between LMX and role overload and turnover intention, such that a high‐quality LMX relationship was negatively associated with perceiving goals as invariable, which in turn was positively related to both role overload and turnover intention. In Study 2, social LMX was negatively associated and economic LMX was positively associated with perceiving goals as invariable, which in turn was negatively related to work performance. Furthermore, perceiving goals as invariable mediated the relationship between social LMX relationships and work performance. Theoretical and practical implications and directions for future research are discussed. © 2017 Wiley Periodicals, Inc.     

Antecedents and Employee Outcomes of Line Managers' Perceptions of Enabling HR Practices

To learn more about the role of line managers in the implementation of HR practices, we propose and test a model of line managers' perceptions of enabling HR practices on the one hand and employee outcomes on the other. In a field study of 89 line managers and 631 employees, we observed that the relationship between line managers' perceptions of enabling HR practices and employees' intrinsic motivation, affective organizational commitment, and turnover intention was mediated by employees' perceived supervisor support. Line managers' perceptions of enabling HR practices, in turn, were predicted by line managers' perceived quality of the HR training they received. Theoretical and practical implications and directions for future research are discussed.     

Happy together,or not? Balanced perceived investment in standard and nonstandard employees

This study investigated whether the relationship between temporary employees' perceived investment in employee development and work outcomes was moderated by temporary employees' perceived investment in standard employee development (PISED). A study among 2022 Norwegian temporary employees showed that the relationship between perceived investment in temporary employee development and in-role and contextual performance was moderated by the temporary employees' PISED. These results suggest that client organizations that invest more in standard employee development will get the most of their investments in temporary employee development. Implications for practice and future research are discussed.     

Geschäftsprozesskostenrechnung in einem Leasing-Unternehmen

Zur Verbesserung der Wertsch?pfung organisieren sich immer mehr Unternehmen nach Gesch?ftsprozessen. Dies geht h?ufig mit einer Gesch?ftsprozessoptimierung einher, um die Abl?ufe effizient zu gestalten.