Arjo Klamer,Conversations with Economists: New Classical Economists and Opponents Speak Out on the Current Controversy in Macroeconomics.

The impotency of fiscal policy resulting from budget deficits is called into question. Empirical observation is used to separate the underlying mechanism of the economy from the “intellectual toys and games” that constitute much of macroeconomics theory today.     

When Crises Hit Home: How U.S. Higher Education Leaders Navigate Values During Uncertain Times

Journal of Business Ethics - Against the backdrop of a global pandemic, this study investigates how U.S. higher education leaders have centered their crisis management on values and guiding ethical...     

Using Statistics and Statistical Thinking to Improve Organisational Performance

A systematic approach to measuring organisational performance is fundamental to the pursuit of business excellence. As such, the area of organisational performance measurement, and its use of data and analysis to inform business decisions, affords statisticians a potentially high value-adding opportunity. To be effective in this area, statisticians need to appreciate the differing requirements for statistical information in various management zones of an enterprise.
This paper describes a strategy that seeks to link measurement to all facets of organisational performance, particularly to desired business outcomes, and also to mesh measurement with process improvement in a natural way. The use of statistics and statistical thinking is then discussed in this context, with particular focus on the opportunity for statisticians to have a key role at the top decision-making level of the organisation. We argue that the role requires skills in both advanced technical statistical modelling and analysis, and in statistical thinking. It also requires a preparedness to form an appreciation of the business and management imperatives faced by the leaders of an enterprise, and a willingness to work from this basis.     

EXPERIENCING FILM TOURISM: Authenticity & Fellowship

Authenticity, existential authenticity, sincerity, hyperreality and simulacra are overlapping concepts often used in accounting for the tourist experience. This study discusses these concepts in the context of a case study of Lord of the Rings film-induced tourism to New Zealand. Findings support an elaborated and extended version of authenticity that incorporates aspects of object and existential authenticity, sincerity of relationships and embodied experiences of place. These factors underpin tourists’ judgments and experiences of authenticity. Links are drawn between this analysis and the theoplacity framework for religious pilgrimage. It is concluded that value emanates not only from objects or sights but also from the moments of embodied interaction with place and others, which actively constitute those objects and sights.     

DEVELOPING A NEW PARADIGM FOR UK FOREIGN AID

This paper makes recommendations for policy on bilateral foreign aid. The recommendations are based on criticism of the current structure and also a wave of new policy suggestions that have, to date, not been implemented on a significant scale. The paper concludes that we need to move away from the orthodoxy of bilateral aid payments, and experiment in new policy areas with a focus on scientific, independent evaluation of results.     

Coordinating on lower prices: pharmaceutical pricing under political pressure

We investigate the effects of political activity on pharmaceutical prices, focusing on the health care reform period in the early 1990s.We characterize firms based on their vulnerability to future price regulation and find that the more vulnerable firms were more likely to take various actions to forestall regulation, most notably coordinating on a specific percentage price increase during 1993. Since moderating price increases could have averted regulation, the coordination appears to be the industry's response to a collective action problem.     

Experimental Foreign Exchange Markets

The paper analyzes experimental markets where subjects buy and sell two different assets. The assets' properties vary across treatments, and their relative price is the exchange rate. Although both assets uniformly exhibit bubbles, the exchange rate satisfies cross‐currency arbitrage. There is no evidence of a positive risk premium in these markets, and almost all subjects' forecasts of the exchange rate are rational.