Determinants of the Euro Real Effective Exchange Rate: A BEER/PEER Approach

This paper presents an empirical analysis of the medium–term determinants of the euro effective exchange rate. The empirical analysis builds on synthetic quarterly data from 1975 to 1998, and derives a Behavioural Equilibrium Exchange Rate (BEER) and a Permanent Equilibrium Exchange Rate (PEER). Four different specifications are retained, due to the difficulties encountered in specifying an encompassing model. The results indicate that differentials in real interest rates and productivity, and (in some specifications) the relative fiscal stance and the real price of oil, have a significant influence on the euro effective exchange rate. Assessing the existence and the extent of the over– or undervaluation of the exchange rate is not straightforward, since these different specifications often lead to contrasting findings. However, all four specifications point unambiguously to the undervaluation of the euro in 2000, although the extent of this undervaluation largely depends on the specification chosen.     

SELF‐REPORTED ECONOMIC CONDITION AND HOME PRODUCTION: INTRA‐HOUSEHOLD ALLOCATION IN ITALY

This paper applies a collective model of intra‐household welfare distribution using individual self‐reported data. The model accounts for household production, and self‐reported information on economic condition is used to identify the sharing rule governing the bargaining process in the family. The theoretical framework implies a broad concept of full income, which includes household production as time allocated to domestic activities. We find that self‐reported data on economic status are useful in recovering individual shares of household income and that both wages and non‐strictly‐economic individual variables play an important role in the bargaining process determining the sharing rule in Italy.     

Fostering Stakeholder Engagement: The Role of Materiality Disclosure in Integrated Reporting

This paper studies the determinants of materiality disclosure among International Integrated Reporting Council (IIRC) Pilot Program companies implementing the IIRC Framework. In other words, it studies which variables influence the way in which such companies provides information about their materiality determination process. In order to test our hypotheses we performed a number of statistical analyses on a unique hand‐collected dataset including IIRC and non‐IIRC Pilot Program companies for the 2012 and 2013 fiscal years. Our results indicate that industry and some firm‐level characteristics (board size and diversity) do play a significant role in the determination of materiality disclosure, whereas the legal environment in which companies operate does not. Also, we found that IIRC Pilot Program companies disclosed more information about materiality than their competitors that did not join the program. This paper provides interesting insights for policy makers (in particular, the IIRC) and extends previous academic literature on integrated reporting. Copyright © 2016 John Wiley & Sons, Ltd and ERP Environment     

Network planning of fuelling service stations in a near-term competitive scenario of the hydrogen economy

Hydrogen can be viewed as the flexible automotive fuel of the future. However, many issues related to its use have not been sufficiently investigated. One such issue concerns hydrogen logistics and distribution throughout a territory. One near-term scenario over the next decade is likely to include distribution procedures that are similar to those currently used for petrol products. In this scenario, the conversion of petrol service stations into hydrogen distribution points will progressively be implemented. Petrol companies will then represent one of the major categories of hydrogen producers. They will thus have to select, from a cost/benefit standpoint that accounts for competing companies expected to offer the same service throughout a territory, the most convenient and effective locations for hydrogen distribution. The current paper presents a model for planning a network of service stations of a given company within a competitive framework. A case study of a specific territory in northern Italy is presented and discussed.     

Core and equilibria in coalitional asymmetric information economies

We study coalitional economies under uncertainty and asymmetric information, assuming a finitely additive measure space of agents and finitely many possible states of nature. We introduce a suitable core notion showing that it is equivalent to Walrasian expectations equilibria. The finitely additive approach proposed in the paper permits also asymmetric information economy with countably many agents, rather than requiring only a continuum. Moreover, it allows us to overcome well-known criticisms related to the interpretation of individual private core notions.     

Intellectual property rights and diaspora knowledge networks: Can patent protection generate brain gain from skilled migration?

This paper studies the mechanism through which intellectual property rights (IPR) protection can influence the impact of skilled migration on innovation activities in developing countries. We argue that knowledge acquired by emigrants abroad can flow back to their country of origin through diaspora networks. IPR protection in the sending country facilitates this channel by increasing returns to skills and encouraging workers to move into the innovation sector. An expansion of the innovation sector allows diaspora knowledge to be absorbed by a larger range of workers. Strong IPR enforcement therefore makes it more likely for brain drain to be transformed into brain gain.     

经济增长与气候稳定是否相协调?——以中国和印度为例

世界资本主义目前正接受着气候变化的挑战,这主要是由与矿石燃料消耗相关的温室气体的排放造成的。为了预防这一灾难性环境后果威胁到人类的生存,在资本主义内部必须对经济增长做出根本性和即时性承诺。从对在世界经济中中国和印度的崛起与气候危机之间的相互关系分析表明,要达到减排目标几乎需要实现经济零增长,以减轻气候危机。在大量使用矿石燃料基础上的传统发展模式不再适用,中国和印度需要更改它们的发展模式。只有一种重在社会和环境进步,而不是经济增长的新型发展战略,才可以为人类未来带来更多的福祉。     

An Empirical Study of Servqual's Dimensionality

This paper describes a scale, called SERVQUAL, which measures Service Quality. First, the scale's conceptual framework and the steps of its development are described. Second, criticisms arising from several replication studies of SERVQUAL are reviewed. The last part focuses on the dimensionality of the scale. Do the 22 items of the SERVQUAL scale clearly evoke, in the clients’ mind, the five Service Quality dimensions defined by Parasuraman et al. [1988]? An empirical study shows that one dimension, ‘Tangibles’, is clearly perceived followed by ‘Empathy’. The three other dimensions, ‘Reliability’, ‘Insurance’ and ‘Responsiveness ', are confused in the client's mind.     

An empirical study of consumer behavior related to private labels and national brand promotions

One day while in the store, Bernard grabs his usual Dominick's cream cheese off the shelf. I notice and point out that the national brand of Philadelphia cream cheese is on sale and less expensive. Bernard looks at the two products and actually hesitates for a while to switch to the national brand. His hesitation makes it clear that his preference is not based solely on price. (Chang Coupland 2005, 115).