Patterns of vertical specialisation in trade: long-run evidence for 91 countries

Review of World Economics - The authors estimate the domestic value-added content in exports of manufacturing goods (VAX-D ratio) for 91 countries over the period from 1970 to 2013. They find a...     

Budgetary-Neutral Fiscal Policy Rules and External Adjustment

Large external imbalances and fragile fiscal positions have emerged as major policy challenges for the euro area in the financial crisis. The paper analyses whether shifting government purchases between tradable and non-tradable goods could help reduce external fluctuations without large swings in the overall fiscal stance. The policy rules considered are budgetary-neutral in the sense that the overall level of government expenditure is kept constant. We compare the policy rules to fiscal devaluation as a strategy to reduce external imbalances and find that state-dependent changes in the composition of government purchases between tradables and non-tradables can stabilise excessive fluctuations in the event of economy-wide supply and demand shocks. Contrary to fiscal devaluation, the expenditure-shifting rule faces a trade-off between stabilising domestic activity and enhancing household welfare, on the one hand, and reducing excessive fluctuations in external positions, on the other hand. The excess volatility of domestic variables associated less volatility in the external position implies welfare losses for standard specifications of household utility. The adverse welfare effect is absent in the case of fiscal devaluation.     

Gradual stimulation of respondents' reflexivity: A research design for studying unreflexive consumers

In interpretive research accounts, reflexivity has been understood primarily in terms of the researcher's reflexivity, while the respondent's reflexivity has been considered only marginally. We regard this gap as critical and therefore introduce a research design for the gradual stimulation of respondents' reflexivity (GSRR), which we propose as a methodological tool for strengthening research validity. First, to frame our argumentation in the contemporary socio-technological context, we emphasize the need to focus on the respondent's reflexivity in the onto-epistemological conditions of the hybrid space and posthuman consumer culture, which unprecedentedly eliminate actors' abilities to monitor their actions reflexively. Second, we present and methodologically examine the GSRR as a 3-phase sequential mixed-method research design for stimulating respondents' reflexivity. GSRR's logic is as follows: the questionnaire captures what respondents think they are doing; the digital self-tracking diary captures what they are doing and what they often do not acknowledge (unreflexivity); the interviews use the previous phases' data to elicit respondents' reflexivity. Third, we present examples from our research practice to demonstrate the strengthening of data validity elicited from respondents by stimulating their reflexivity. We conclude by outlining the GSRR's possible future applications and directions.     

Asset accumulation,interdependence and technological change: evidence from pharmaceutical drug discovery

Although the resource‐based view of the firm has been written about extensively, the process by which firm assets are accumulated has not been explored in detail. That is, we know little about the micro‐level mechanisms by which assets are built, nor do we have sufficient empirical evidence why some assets are more difficult to imitate, trade, or substitute. In this exploratory paper, we attempt to provide a better understanding of asset accumulation via an empirical research program in pharmaceutical drug discovery. Using a combination of field research, discovery data from nine pharmaceutical firms, and data on 218 alliances involving new technologies for experimentation and testing, three causes affecting asset accumulation are identified and described. First, the difficulty of imitating a particular asset is affected by interdependencies with other assets. Second, trading of assets can be impeded by structural inertia in the core of a firm that is adopting the technology asset. And third, fully specifying all factors affecting imitation and trading ex ante is very difficult, if not nearly impossible, under conditions of rapid technological change. We propose that the complex interactions of these causes can give rise to imperfections in factor markets. Finally, implications for further research are discussed as well. Copyright © 2002 John Wiley & Sons, Ltd.     

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