A positional version of Arrow’s theorem

Arrow’s theorem is based on two “vertical” aggregation conditions expressed in terms of the relative positions of two alternatives in a preference ranking. This note obtains the same result for the strict preference case using instead two “horizontal” aggregation conditions expressed in terms of the absolute position of an alternative in a preference ranking.     

Spatial Imaginaries of the Dutch–German–Belgian Borderlands: A Multidimensional Analysis of Cross‐Border Regional Governance

Parallel to the proliferation of cross‐border regional cooperation initiatives in the European Union, increasing scholarly attention has been given to conceptualizing cross‐border governance in recent decades. In line with the recognition that cross‐border regions have not undermined the significance of nation‐state spaces but have added to their complexity, conceptual frameworks of analysis have become more and more refined. However, studies still tend to be framed in one spatial grammar, that of territory, scale or network, and fail to consider the ways in which these different dimensions become interlocked. The aim of this article is to address this lack by developing a multidimensional perspective, in order to finally circumvent state‐centric thinking on cross‐border regions and to offer a more nuanced account of whether and how new imaginaries of spatial governance institutionalize. These arguments are demonstrated by means of a case study of cross‐border regional governance in the Dutch–German–Belgian borderlands.     

A keynesian macro-econometric model of the UK: 1955–1984

In this paper we present a small Keynesian macro-economic model in which wage-price determination is linked to the working of goods and money markets. By explicitly treating the Keynes effect we derive a general expression for the employment-money supply elasticity, and draw the IS-LM loci in the employment-interest rate space Our empirical specification allows for short-run disequilibrium dynamic adjustments around the static long-run relations predicted by the theoretical model. By careful use of our specification search strategy we obtain a statistically sound econometric model, which exhibits sensible long-run properties. A remarkable finding implied by our estimates is that equilibrium unemployment is negatively affected by both money supply and incomes policy.     

Cliometrics, 1971–1986: A survey

The paper selectively surveys recent quantitative work in economic history with special emphasis on research into unemployment in interwar Britain, the Habakkuk controversy, the Kuznets curve, the demographic transition and heights in history. It is shown that the field has advanced well beyond the routine applications of elementary microeconomics which characterized its early days. Considerably greater quantitative sophistication and a much wider coverage of historical issues have been notable features of this advance. It is argued that econometric methods need to be supplemented in historical work by other forms of evidence to obtain persuasive answers to historical questions.     

The Effect of ‘Simplicity’ on the Strategy–Performance Relationship: A Note*

abstract The concept of ‘simplicity’ ( Miller, 1993 ) in strategy making suggests a preoccupation with a single goal, strategic activity, or function. Prior research indicates that simplicity may, under certain conditions, benefit firm performance, but it may also limit an organization's perspective and blind it to the breadth and variety it needs to sustain its success. This field study investigates the role of simplicity as a moderator of strategy–performance relationships. Using moderated hierarchical regression analysis, simplicity was found to enhance performance among firms using cost leadership and focus strategies among a sample of 32 firms. The findings suggest that the strategy making styles and practices of strategic managers influence the character of the whole organization and often have an important impact on organizational outcomes.     

Labour Relations in Taiwan: A Cross–Cultural Perspective

Labour relations in Taiwan have transformed since 1987. In this study, management concepts regarding unions, compensation, grievances, safety and health are compared among local Taiwanese, American, and Japanese firms in Taiwan. Data are obtained from a questionnaire survey and follow–up interviews. Implications of the research results are also discussed.     

Meeting the environmental challenge: a case of win–win or lose–win? A study of the UK baking and refrigeration industries

The idea that what is good for the environment is good for business has come to dominate environmental thinking and provides one of the cornerstones of ecological modernization. Studies of this win–win philosophy have tended to concentrate on large companies. This study considers how the UK refrigeration and baking industries have responded to the main drivers for change. By eliciting managers' views of environmental issues through semi‐structured interviews, the problems and opportunities facing these two industries are explored. The responses were remarkably similar, given the different characteristics of the two industries. The interviews revealed that legislation maintains its pre‐eminence as a motivation for change. Win–win situations arising out of environmental legislation were found in some SMEs; however, for most the perception was one of lose–win. The demand for environmental products and processes, necessary for win–win, has yet to materialize. Companies, therefore, remain driven by the commercial, rather than the environmental, imperative. Copyright © 2004 John Wiley & Sons, Ltd and ERP Environment.     

A revised version of the Cathcart & El-Jahel model and its application to CDS market

Decisions in Economics and Finance - The paper considers the pricing of credit default swaps (CDSs) using a revised version of the credit risk model proposed in Cathcart and El-Jahel (2003)....     

The Use of Person–Group Fit for Employment Selection: A Missing Link in Person–Environment Fit

Given an increased emphasis on work teams in organizations, it is important to select applicants based on their ability to make contributions to a given work team. This paper proposes that person–group fit should be useful to select applicants for work teams and suggests that effective use of person–group fit will create both more cohesive work units and more effectively functioning work units. It proposes ways to make valid and reliable assessments of person–group fit that could be used to minimize bias in the selection process. Finally, it addresses several implications of using the person–group fit paradigm for human resource management practice. © 2001 John Wiley & Sons, Inc.     

What moves housing markets: A variance decomposition of the rent–price ratio

We apply the dynamic Gordon growth model to the housing market in 23 US metropolitan areas, the four Census regions, and the nation from 1975 to 2007. The model allows the rent–price ratio at each date to be split into the expected present discounted values of rent growth, real interest rates, and a housing premium over real rates. We show that housing premia are variable and forecastable and account for a significant fraction of rent–price ratio volatility at the national and local levels, and that covariances among the three components damp fluctuations in rent–price ratios. Thus, explanations of house-price dynamics that focus only on interest rate movements and ignore these covariances can be misleading. These results are similar to those found for stocks and bonds.