范畴帝国主义:置知识于全球化的世界中

范畴帝国主义描述的是在主导性社会文化环境中形成的范畴被输出到从属性社会文化环境中的情形。洛克式的普世主义是范畴帝国主义的形而上基础,而现代化理论、理性选择理论和全球化理论则是其具体的表现。区域研究和后殖民理论都对普世主义的理论进行了反思和批评。替代普世性知识的,应当是情境性知识,这是一种源自柏克的研究取向。对情境性知识的强调意味着美国的那种将洛克强加到世界各处的绝对主义必将遭遇尴尬。     

Is there a trade-off between procyclicality and revisions in EC trend TFP estimations?

Potential output constitutes a central measure to determine compliance of the member states with the EU fiscal rules. The EU uses a production function approach to estimate potential output. In a Kalman filter model together with a Bayesian approach TFP is decomposed into a trend and a cycle. The aim of this paper is to examine the relationship between two widely discussed issues of the EC estimate of potential output, procyclicality and the extent of revisions. Procyclicality of the TFP trend depends on the prior assumptions for the residual variance of the TFP cycle equation. Exploiting this, simulations over increasing values of the priors of the residual variance of the TFP cycle equation are run for eight EU countries, leading to decreasing procyclicality of TFP trend estimates. Procyclicality of the estimated TFP trend reduces the standard error of revisions for half of the countries considered, while it implies an increase for the other countries or has no effect. Thus there is a trade-off between procyclicality of the TFP trend and the revision error, but it is not so clear cut. The standard errors of revisions of real-time estimates of the TFP trend as a criterion of model selection could improve forecasts additionally to the marginal likelihood value employed by the EC.     

Sustainability-oriented Service Innovation: fourteen-year longitudinal case study of a tourist accommodation provider

Abstract

Progressing sustainable tourism requires both an innovative transition from “unsustainable” tourism and innovative research methods to develop theory and concepts for a sustainable tourism. While there are many ad hoc examples of initiatives, there are very few examples of firms systematically recording their medium-term evolutionary progress. This case study of an accommodation provider uses longitudinal data over 14 years, deductive and inductive methods, and comparison with other similar eco-friendly providers, to provide the first exploration of sustainability-oriented innovation by a firm attempting to make transitions. Findings show how important hindsight and insight are for continuous learning, and how broader community sustainability issues influence the owners’ worldviews. Both learning and changing views are required to support innovation. A Sustainability-oriented Service Innovation model is recommended, recognising the characteristics of a service industry where innovation can be an organic process led by humans for humans and consequently more fuzzy in its progress than the clearly defined steps that are suggested by previous research. This model seeks to assist researchers and practitioners to better measure innovative progress of service firms, and develop more relevant strategies to ease transitions towards sustainable business practices.     

Should Banks Be Banned From Creating Money? An Analysis From the Perspective of Hierarchical Money

We extend the concept of “hierarchy of money” to our current monetary and financial system based on fiat money, with monetary policy that is conducted through the sale and purchase of securities and credit intermediation by non-bank financial intermediaries. This exposes a feedback loop between the upper and lower level of the hierarchy, which allows for more than full use of otherwise dormant capital, but that also increases inherent instabilities manifested in asset booms and busts. From the perspective of hierarchical money, we find that the call to ban banks from creating money neglects the significant role of securities-based financing in the global financial markets at the lower level, as well as the money creation capacity of central banks at the highest level of the hierarchy. Moreover, the inherently expansive nature of the hierarchy of money contradicts the long-term feasibility of full-reserve banking.     

EQ-5D health utilities: exploring ways to improve upon responsiveness in psoriasis

Aims: To determine if EuroQoL 5-Dimension Health Questionnaire (EQ-5D) health utility scores were able to discriminate among different levels of improvement in psoriasis severity following therapy.

Materials and methods: Data were from three placebo-controlled phase 3 ixekizumab studies (UNCOVER-1, UNCOVER-2, and UNCOVER-3) with patients who had baseline Dermatology Life Quality Index scores >10 (DLQI >10). Psoriasis severity (Psoriasis Area and Severity Index [PASI]), general health utility (EQ-5D), and psoriasis-specific utility (EQ-PSO, UNCOVER-3 only) were assessed. EQ-5D-5L utility scores were generated using the England EQ-5D-5L value set, a crosswalk applied to the EQ-5D-3L United States (US) and United Kingdom (UK) value sets, and a regression-based exploratory scoring function for the EQ-PSO (UK). Analysis of variance was used to estimate change in EQ-5D-5L from baseline to Week 12 per PASI improvement level: PASI <50, PASI 50 to <75, PASI 75 to <90, PASI 90 to <100, and PASI 100. Missing data were imputed using the last observation carried forward method. Value sets for the UK, England, and the US were applied.

Results: In total, 2085 patients across UNCOVER-1, UNCOVER-2, and UNCOVER-3 had baseline DLQI >10 and available utility scores. At Week 12, mean EQ-5D utility scores increased with increasing PASI improvement levels (p?n?=?645; PASI 90 to <100: 0.141, PASI 100: 0.200; adjusted p?=?0.043).

Limitations: EQ-5D-5L index-based scores have limited ability to differentiate among psoriasis patients at the highest PASI improvement levels.

ConclusionsL Adding psoriasis-specific EQ-PSO dimensions to the EQ-5D may enhance responsiveness to improvement in skin clarity at the highest PASI levels, and, therefore, generate utility scores that better reflect treatment benefit in cost-utility models.     

Cultural theory and risk perception: a proposal for a better measurement

Why do members of the public disagree – sharply and persistently – about facts on which expert scientists largely agree? We designed a study to test a distinctive explanation: the cultural cognition of scientific consensus. The ‘cultural cognition of risk’ refers to the tendency of individuals to form risk perceptions that are congenial to their values. The study presents both correlational and experimental evidence confirming that cultural cognition shapes individuals’ beliefs about the existence of scientific consensus, and the process by which they form such beliefs, relating to climate change, the disposal of nuclear wastes, and the effect of permitting concealed possession of handguns. The implications of this dynamic for science communication and public policy‐making are discussed.     

Optimal portfolios when stock prices follow an exponential Lévy process

We investigate some portfolio problems that consist of maximizing expected terminal wealth under the constraint of an upper bound for the risk, where we measure risk by the variance, but also by the Capital-at-Risk (CaR). The solution of the mean-variance problem has the same structure for any price process which follows an exponential Lévy process. The CaR involves a quantile of the corresponding wealth process of the portfolio. We derive a weak limit law for its approximation by a simpler Lévy process, often the sum of a drift term, a Brownian motion and a compound Poisson process. Certain relations between a Lévy process and its stochastic exponential are investigated.Received: January 2003Mathematics Subject Classification: Primary: 60F05, 60G51, 60H30, 91B28; secondary: 60E07, 91B70JEL Classification: C22, G11, D81We would like to thank Jan Kallsen and Ralf Korn for discussions and valuable remarks on a previous version of our paper. The second author would like to thank the participants of the Conference on Lévy Processes at Aarhus University in January 2002 for stimulating remarks. In particular, a discussion with Jan Rosinski on gamma processes has provided more insight into the approximation of the variance gamma model.     

Visible Reserves in Banks – Determinants of Initial Creation,Usage and Contribution to Bank Stability

The opportunity of building up visible “Reserves for General Banking Risks” by the bank management represents a peculiarity in the German financial accounting framework for banks. We investigate German banks' motives for the creation and usage of these reserves and assess their role in financial stability. We find that banks primarily create and use GBR reserves to build up Tier 1 capital for regulatory capital management and earnings management purposes. Most importantly, however, we also reveal that banks using these reserves are less likely to experience a future distress or a bank default event. We therefore conclude that the existence of GBR reserves within the financial accounting framework represents both a convenient capital and earnings management tool for bank managers and a beneficial regulatory instrument to enhance bank stability.     

The flight of capital from developing countries

The export of capital, legally and illegally, is a major problem for many developing countries. The following study analyses the causes and nature of the flight of capital and estimates its scale in 34 countries.