Marshall's Scissors: The Gains and Losses from Trade

In a Ricardian two‐factor endowment model with Cobb–Douglas tastes and many goods, this paper describesthe interaction of the demand and supply sides to determine the gains and losses from trade. If the abundant factor has a sufficiently rich profile of comparative advantages, trade causesthe proportionate gain to the abundant factor to be smaller than the proportionate loss to the scarce factor. However, if the abundant factor has sufficiently skewed comparative advantages toward the best goods, then the opposite will hold. Some examples suggest that these patterns may have something to do with the selection of trade regimes. In the usual one‐factor Ricardian model the gains from trade to a country are enhanced by higher demand shares for imports, but such gains from trade from imports to a country is not the case in a factor endowment model.     

An interest-rate-spread-based measure of Turkish monetary policy

A coherent method to measure the effectiveness of a monetary policy improves the monetary authority’s management capacity and renders the possibility of applying sound policies prior to and during a crisis. The trend in employing complicated and ambiguity-bearing unconventional monetary tools in the aftermath of the 2008 crisis has increased the value of such a method. The aim of this article is to introduce a coherent and consistent monetary policy evaluation method for Turkey. Accordingly, we suggest that innovations in the spread between overnight interest rates and Treasury auction interest rates are informative for exchange rate, output, and prices. Empirical evidence for this identification reveals that positive innovation in spread (implying a tight monetary policy measure) decreases output temporarily, permanently decreases prices, and appreciates local currency. This result is also robust to alternative specifications.     

基于特征价格模型的住宅需求价格弹性分析——深圳住宅市场实证研究

基于特征价格模型(hedonic model)分析住宅价格包络函数曲线形态,边际价格增长速度随着特定特征值递增从呈现下降趋势转为呈上升趋势,即均衡价格曲线从凹向特征值轴转为凸向特征值轴.通过对深圳经济特区内外的两个住宅交易子样本进行hedonic分析,结果表明,均衡价格的增长速度随着特征变量面积的变化呈现由凹变凸的趋势...     

Competitive analysis of cross cultural information search behavior

The aim of this study was to investigate German, French, and British travelers’ information search behavior. This study used the data collected from a series of in-flight surveys on German, British, and French travelers to the US between January and December 1997. To visualize tourists’ information research behavior, a correspondence analysis was employed. The results from correspondence analysis revealed two-dimensional solutions: the first was labeled as business/leisure dimension, and the second was identified as dependent/independent information search behavior. In addition, four distinct market segments based on the information search behavior emerged from the analysis. In conclusion, future study in respect to cross-cultural choice behaviors was advocated.     

Performance-enhancing internal strategic factors and competencies: Impacts on financial success

The purpose of this study was to examine the internal strategic factors likely to influence company financial performance for service organizations from managers’ perspectives. It provides empirical evidence of the links between the internal strategic factors examined and financial performance of service organizations. Data for this study were collected from middle and upper managers of service companies using a self-administered survey questionnaire. The results of the study suggested that four of the seven critical internal strategic success factors examined had a significant impact on company financial performance. Those factors are sales, R&D and distribution, information technology, and human resources. Implications of the findings are discussed.     

Identifying the complex relationships among emotional labor and its correlates

Studied since the late 70s, emotional labor has received much attention especially in the service product context due to its presumed double edged wedge potential. Several job-related and person-related factors are postulated and tested for influence on emotional labor. However, the influence of culture, as a blanket factor, has been overlooked thus far. The aim of this study is to measure the complex relationships between emotional labor and a few of its antecedents and outcomes, including those previously measured and those missed such as culture. A structural equation modeling approach is used to identify the complex relationships inherent among emotional labor and other relevant factors, namely, personality, culture, work experience, job autonomy, and job satisfaction; job satisfaction was identified as being dependent on emotional labor and all other variables were identified as being independent. Findings revealed a negative relationship between emotional labor and job satisfaction and a surprising positive relationship between emotional labor and neuroticism but not extraversion, which are both defined by cultural values. Job autonomy, affected by work experience and extraversion, had a positive relationship with job satisfaction.     

Generation effects on work engagement among U.S. hotel employees

Drawing upon generational differences in work values and attitudes, this article examines work engagement of three generational cohorts using survey data collected from 677 customer contact employees in the hotel industry. Results of ANOVA and a series of moderated regression analyses indicate that levels of work engagement significantly differ depending on the generational membership of the employees. The effects of work engagement on turnover intention were significantly moderated by generational differences. Millennials were found to be a more distinct cohort from Gen Xers and Baby Boomers in terms of their level of work engagement as well as the relationship between work engagement and turnover intention.