The effect of monetary policy on household consumption expenditures in Portugal: A decomposition of the transmission channel

Portuguese Economic Journal - We follow Slacalek et al. (2020) monetary transmission decomposition approach to investigate the effects of monetary policy shocks on household consumption...     

The home purchase process: Measurement of evaluative criteria through pairwise measures

Although the purchase of a home represents a sizable investment for the average family, relatively little consumer research pertaining to the home purchase process has been reported. This investigation utilized Thurstone's Case V methodology to identify key attributes used by consumers to make housing choices and to show how these attributes are perceived by consumers of different tenure and socioeconomic status. The pairwise comparison analysis showed a strong preference for the attributes “safety and security from crime” and “quality construction” by the respondents. In addition, the analysis revealed several important differences in attribute preferences between former owners and former renters. Former home owners, for example, were more likely than former renters to prefer school quality when it was pitted against several other attributes. Thurstone's Case V techniques was found to be an effective method for measuring consumer preferences. Implications which focus on home product development and marketing strategies are discussed.     

Do citizenship behaviors matter more for managers than for salespeople?

This research was designed to investigate the effects of organizational citizenship behaviors (OCBs) and objective sales productivity on sales managers’ evaluations of their sales personnel’s performance and to examine whether the impact of OCBs on performance evaluations is greater at higher levels of the sales organization hierarchy. Two samples were obtained from the same organization: a sample of 987 multiline insurance agents and a sample of 161 agency managers. Objective measures of sales productivity were obtained for both samples along with evaluations of three dimensions of OCBs and an assessment of overall performance. The results indicate that managers’ evaluations are determined at least as much by OCBs as they are by objective measures of performance. After partialing out common method variance, the results also indicate that OCBs account for a greater proportion of a sales manager’s evaluation than of a sales representative’s evaluation. The implications of these findings are discussed. Scott B. MacKenzie (Ph.D., UCLA, 1983) is a professor of marketing and the Edgar G. Williams Faculty Fellow at the Kelley School of Business at Indiana University. His research on advertising effectiveness, organizational citizenship behavior, and leadership issues can be found in theJournal of marketing Research, Journal of Marketing, Journal of Consumer Research, Journal of Applied Psychology, Organizational Behavior and Human Decision Processes, Personnel Psychology, Journal of Management, andThe Leadership Quarterly. Currently, he serves on the editorial boards of theJournal of Marketing Research, Journal of Marketing, Journal of Consumer Research, andJournal of Consumer Psychology. Philip M. Podsakoff (D.B.A., Indiana University, 1980) is the John F. Mee Professor of Organizational Behavior and Human Resources at the Kelley School of Business at Indiana University. He is the author or coauthor of more than 60 articles and/or scholarly book chapters that have appeared in such journals as theJournal of Marketing, Journal of Marketing Research, Academy of Management Journal, Psychological Bulletin, Organizational Behavior and Human Decision Processes, Journal of Applied Psychology, The Leadership Quarterly, Organizational Dynamics, Research in Organizational Behavior, Journal of International Business Studies, andJournal of Occupational and Organizational Psychology. He serves on the Board of Editors of theJournal of Applied Psychology, Organizational Behavior and Human Decision Processes, andThe Leadership Quarterly. Julie Beth Paine is a doctoral student in management at the Kelley School of Business at Indiana University. Her research interests include competence in performance, performance evaluation processes, and reward systems.     

The sources of the Kuznets relationship between road fatalities and economic growth

This paper reports the results of an empirical analysis of the Kuznets curve relationship between per capita income and road fatalities across 60 countries over the period 1972-2004. This relationship hypothesizes that the number of road fatalities increases with increasing motorization in the early stages of economic growth. Eventually, due to advances in technical, policy and political institutions, it declines as per capita income increases. The quality of political institutions as well as improvements in medical care and technology are hypothesized to impact road fatalities. Results indicate evidence of a Kuznets curve relationship between per capita income and road fatalities for both highly developed and less developed countries and support our hypothesis that changes in institutional quality and medical improvements underlie the Kuznets relationship. The evidence presented in this study suggests that lowering corruption levels as well as improvements in medical care and technology would help to reduce road fatalities.     

The Impact of Financial Crises on Labor Markets, Household Incomes, and Poverty: A Review of Evidence

The 1990s have witnessed several financial crises, of whichthe East Asia and Mexico tequila crises are perhaps the mostwell known. What impact have these crises had on labor markets,household incomes, and poverty? Total employment fell by muchless than production declines and even increased in some cases.However, these aggregates mask considerable churning in employmentacross sectors, employment status, and location. Economies thatexperienced the sharpest currency depreciations suffered thedeepest cuts in real wages, though deeper cuts in real wagesrelative to GDP were associated with smaller rises in unemployment.To some extent, families smoothed their incomes through increasedlabor force participation and private transfers, though thelimited evidence available suggests that wealthier familieswere better able to smooth consumption. The initial impact ofthe crises was on the urban corporate sector, but rural householdswere affected as well and in some instances suffered deeperlosses than did urban families. School enrollment declined,especially among poorer families, as did use of health facilities,but he impact on children's nutrition levels appears to vary.Crises have typically proved short-lived, but whether householdsplunged into poverty during a crisis are able to recover asthe economy does remains an open question.      

Russian enterprises at the end of 2016: Reaction to varying ruble exchange rate and the workforce situation

This article represents an analysis of and comments on the results of a regular survey of Russian enterprises operating in the real sector, which was conducted by the Institute of Economic Forecasting, Russian Academy of Sciences. It represents opinions of enterprises, the modern macroeconomic problems of which they believe to be the most acute. This article considers the responses of enterprises regarding how their activities have been affected by the mutual sanctions between Russia and Western countries, as well as by Russia’s WTO accession. We have shown the opinions of enterprises on their interests in the ruble exchange rate. This ref lects the current situation with the workforce at enterprises and gives data on their participation in solving of housing problems faced by their employees. This article contains information on how enterprises rate today’s level of competition with foreign manufacturers on Russian markets.     

Tax reform: Chasing the elusive dream

The paper provides a bird's-eye view of the long and arduous task of reforming the federal individual income tax. As a starting point for reviewing the major reforms, the authors evaluate Secretary Simon's criteria that underlie his contention that the tax system was badly in need of a thorough overhaul. Principles that should guide tax reforms are spelled out. Conflicts that arise with the application of these principles are highlighted. An examination of reform efforts in light of the principles and criteria set in the Treasury Department's Blue Prints for Tax Reform forms the basis for evaluating reforms enacted over the period 1978–2001. The review suggests that we are partway towards achieving the tax man's dream of equity, efficiency, and simplicity.The task of comprehensive reform is monumental in its dimension and far reaching in itspotential impact on our economic well-being.[William E. Simon, 1977, p. 11]