Survival and Growth Patterns among New Technology‐Based Firms: Empirical Study of Cohort 2006 in Sweden

This study investigates the survival and growth trends in a cohort of new technology‐based firms (NTBFs) established in Sweden in 2006. This cohort has faced both an economic upswing and a severe downturn, which started in 2008, and by 2014 provides 8 years of historical records. Our study makes several contributions to the current understanding of NTBF survival and growth. First, our empirical observations show that many NTBFs (72 percent) from the 2006 cohort were still operating at the end of 2014, indicating a much higher survival rate than those found in previous studies. Second, surviving firms from the 2006 cohort positively affected employment, as their annual job creation was higher than the reduction in employment caused by exiting firms. Third, very few companies experienced high‐growth during their first 7 years, and employment growth and sales growth were highly correlated among high‐growth firms.     

Is U.S. money causing China's output?

This paper tries to answer the long-standing question of whether money causes output. Instead of focusing on domestic monetary policy and output, we analyze U.S. monetary policy and its possible effects on real output in China. Our results indicate that the main monetary instrument in the U.S., the Federal Fund Rate, Granger causes China's output. A second monetary variable, U.S. money supply, does not seem to have a significant effect on China's output. The results are supported by variance decompositions, which indicate that Federal Fund Rate shocks have an effect on China's real output. The findings have important implications for policy makers in China that focus on maintaining a high and stable economic growth.     

Pricing-to-market in Swedish Exports

Fluctuations in prices of Swedish exports to five countries are investigated in this paper. We test whether there are systematic differences between prices to different markets and whether relative export prices are affected by macroeconomic conditions in destination countries. The test results indicate that deviations from no pricing-to-market and neutrality of money are quite common and persistent. Over a sample of 15 years, long-run monetary neutrality is rejected in almost half of the cases. In most cases, the degree of pricing-to-market is also affected by aggregate demand in export markets.     

Feedback and incentives: Experimental evidence

This paper experimentally investigates the impact of different pay schemes and relative performance feedback policies on employee effort. We explore three feedback rules: no feedback on relative performance, feedback given halfway through the production period, and continuously updated feedback. We use two pay schemes, a piece rate and a tournament. We find that overall feedback does not improve performance. In contrast to the piece-rate pay scheme there is some evidence of positive peer effects in tournaments since the underdogs almost never quit the competition even when lagging significantly behind, and front runners do not slack off. But in both pay schemes relative performance feedback reduces the quality of the low performers' work; we refer to this as a “negative quality peer effect”.     

The relationship between perceived training opportunities,work motivation and employee outcomes

The purpose of this study was to explore alternative relationships between training opportunities and employee outcomes. A cross‐sectional survey of 343 trainees from a broad range of Norwegian service organizations showed that the relationship between perceived training opportunities, and both task performance and citizenship behaviors were fully mediated, and that the relationship between perceived training opportunities and turnover intention was partially mediated by employee intrinsic motivation. In addition, intrinsic motivation was found to moderate the relationship between perceived training opportunities and organizational citizenship behaviors. The form of the moderation revealed a positive relationship for those with high intrinsic motivation. In sum, the variables included as predictors in our study explained 13 per cent of the variance in task performance, 19 per cent of the variance in organizational citizenship behavior and 24 per cent of the variance in turnover intention. Implications for practice and directions for future research are discussed.     

Policy Rules for Exploitation of Renewable Resources: A Macroeconomic Perspective

A fundamental problem for an economy based on a common property resource is the absence of a market to trade the resource. This implies that private costs will be below social costs. This paper investigates possible government interventions that correct for such distortions in a neoclassical growth model with a production externality in harvesting. The model predicts that the welfare of the representative household increases considerably when a Piguovian tax is implemented. The policy that replicates the command optimum is highly complex and changes over time. On the other hand, a large share of the maximum welfare increase is internalized by introducing a constant quantity tax, suggesting that the potential of such policies is high.     

Compensating Variation and Hicksian Choice Probabilities in Random Utility Models that are Nonlinear in Income

In this paper we discuss Hicksian demand and compensating variation in the context of discrete choice. We first derive Hicksian choice probabilities and the distribution of the (random) expenditure function in the general case when the utilities are nonlinear in income. We subsequently derive exact and simple formulae for the expenditure and choice probabilities under price (policy) changes conditional on the initial utility level. This is of particular interest for welfare measurement because it enables the researcher to compute the distribution of compensating variation in a simple way. We also derive formulae for the joint distribution of expenditure, the choice before and after a policy change has been introduced.     

Communicative governance at work: how choice architects nudge citizens towards health,wealth and happiness in the information age

The article investigates the contribution of the nudging agenda to communicative governance and policy design through the extensive use of substantial communicative tools, complementing the use of procedural communicative tools associated with network facilitation and management in post-NPM thinking. This argument is carried out on three levels of analysis: I) the reliance on information as the primary tool of government and the corresponding reversal of the conventional governmental toolbox, II) the development and use of informational and communicative techniques guiding behaviour, and III) the instruments, interfaces and artefacts supporting the informational networks and flows of nudging interventions.