Competitive moment matching of a New-Keynesian and an Old-Keynesian model

The paper considers two rival models referring to the new macroeconomic consensus: a standard three-equation model of the New-Keynesian variety versus dynamic adjustments of a business and an inflation climate in an ‘Old-Keynesian’ tradition. Over the two subperiods of the Great Inflation and Great Moderation, both of them are estimated by the method of simulated moments. An innovative feature is here that the moments do not only include the autocovariances up to eight lags of quarterly output, inflation and the interest rate, but optionally also a measure of the raggedness of the three variables. In short, the performance of the Old-Keynesian model is very satisfactory and similar to the New-Keynesian model, or even better. In particular, the Old-Keynesian model is better suited to match the new moments without deteriorating the original second moments too much.     

Obtaining collaboration benefits: the role of collaboration-specific investment and absorptive capacity in China

This study examines the role of collaboration-specific investment and absorptive capacity on the attainment of interorganizational collaboration benefits. Grounded in the extended resource-based view, and using survey data from Chinese executives, we study the driver for, and test the impacts of, collaboration-specific investment and organizational learning on collaboration performance. Our findings indicate that resource similarity between the collaborative partners affects the level of collaboration-specific investment and learning, and demonstrate an approach that firms can use to obtain both abnormal common and private benefits from participation in an interorganizational collaboration. Specifically, the findings suggest that collaboration-specific investment has a direct effect on the enhancement of absorptive capacity and attainment of common and private collaboration benefits. Furthermore, due to the direct effect of absorptive capacity on attainment of collaboration benefits, commitment of collaboration-specific investment has an indirect effect on the attainment of common and private collaboration benefits. This study is the first to apply both the competence-capability framework and extended resource-based view to study interorganizational collaboration. In fact, this study aims to determine mechanisms for a collaboration-participating firm to obtain more benefit, whether common or private. Our findings provide support for the importance of learning capability as a factor in the acquisition of collaboration benefits.     

Broadband Demand Analysis for Network Building

An increase of broadband demand is forecasted by transitional methods that consider the effect of this increase through many factors, such as customer requirement diversification, and new service introduction and deployment under competition. Broadband demand forecasting has become important for closing the digital divide, promoting regional developments, and constructing networks economically; therefore, a demand forecast model that considers the mechanisms of market structure is necessary. In this paper, a demand analysis method for broadband access combining macro- and micro-data mining is proposed, and the service choice behaviour of customers is introduced as a customer model not only to express the macro trend of market structure, but also to consider area marketing. The proposed method can estimate the potential demand, determine the point at which broadband demand growth peaks in a specified area, and support a decision for ultra high-speed broadband access facility installation.     

Der Begriff Lügenpresse in deutschen Tageszeitungen

In Germany, we currently see on-going changes in politics and society. More and more people seem to lose faith not only in politics, but also in the mainstream media. Since autumn 2014, the distrust in and suspicion of the news media has reached a new level: the group “Pegida” (Patriotic Europeans against the Islamization of the West) coined the term Lügenpresse (lying press) to illustrate their growing distrust in news media. The term lying press emerged for the first time in 1914 and was regularly used for war propaganda to defame foreign media. In general, the term is not only used by followers of a certain political direction, but in the context of different, especially antidemocratic, political movements (e.?g., during the National Socialist era or during the GDR era in Germany). Since the beginning of the 2000s, however, the concept has been increasingly referred to by right-wing groups (see Heine 2015; Klarmann 2013). Nevertheless, this is not only an issue in Germany, since Pegida has support in other European countries, such as Great Britain and the Netherlands.News media become part of their own coverage as soon as they refer to these developments. Self-discussion or self-coverage can be described as journalistic communication about journalism and means that the media themselves become the object of reporting. Hence, when media use the term lying press, they inevitably refer to themselves. The present study deals with how the media refer to the term lying press and how they reflect upon it. The main question we deal with in our study is how detailed the concept is reflected on and how the media deal with the associated reproach of deliberate misinformation.Drawing on the concept of framing, a content analysis is employed in order to analyze how newspapers report on the term, how they relate it to themselves and how they deal with its implications. The framing approach deals with the emergence, dissemination and alteration of interpretive frames, which are placed on an issue and determine the point of view on this topic. According to Matthes (2014), frames can be understood as a tool to highlight certain information or aspects of a topic while neglecting others. The framing approach deals with the genesis, alteration and effects of frames, which are located at various points in the communication process. In this study, we focus on media frames in the daily newspaper coverage. We rely upon the definition according to Entman (1993) which has been most frequently operationalized so far.We postulate several research questions that deal with the concept of self-coverage and framing. We are, for example, interested in verifying the sections of newspapers in which the term is referred to and if there are differences in how strongly the term is reflected upon. Furthermore, our research interest focuses on how the term is framed, which frames are dominant in the news media and if the frames change over time. We investigated the coverage of the five most widely circulated daily newspapers (Frankfurter Allgemeine Zeitung, Süddeutsche Zeitung, Bild, die Welt, and die tageszeitung) in Germany from October 2014 to October 2015. We discovered 304 articles with 338 statements referring to the term lying press. With a cluster analysis, we extracted four frames.Overall, the term lying press is more strongly reflected on in media sections than in political reporting. In political sections the term is often only mentioned without further contextualization. The four extracted clusters, which can be interpreted as media frames, are termed as follows: demanding author frame, reserved expert frame, external accusation frame, and unreflected author frame.In political sections of newspapers, the two rather undifferentiated frames (external accusation frame with 35% and unreflected author frame with 36%) are dominant. The reserved expert frame (35%) and the unreflected author frame (43%) are the two dominant frames in media sections. Nevertheless, the two most common frames (external accusation frame and unreflected author frame) do not use the term lying press in a critical and reflective way (combined percentage of 60%). The selection of the term as “non-word” of the year did not significantly change the frequency with which the four frames are used within the media.Our results show that the term lying press is used in different ways – but in most cases, there is only little or no elaboration. Frequently, the term is only mentioned without a deeper discussion and classification of the term and its meaning. It sometimes even seems that newspapers use the term ironically as a synonym for themselves instead of the terms media or press. However, the associated trivialization of a term carrying such negative connotations is problematic and could help to establish lying press as an unreflected designation for the media. The media might miss the opportunity to both react decisively to the accusations and to illustrate how important they are in a democratic society. The term must be placed in its historical context and should not be permitted as a flat-rate defamation. Whether the underlying criticism is justified or not, the media should discuss the term and, if possible, invalidate it. In this context, the media must perform their function of practicing criticism – also against themselves. Limitations and future research are discussed at the end of the paper.     

Defect Detection Using Unanimous Vote Among Mahalanobis Classifiers for Each Color Component

In manufacturing industries, product inspection is automated and the use of image data is increasingly being employed for defect detection. A manufacturing company in Japan produces an item and inspects the produced products using image data. Reducing the error rate is important in product inspection because poor inspection of products might lead to the delivery of defective products to consumers (consumer’s risk) and strict inspection increases production cost (producer’s risk). To reduce the error rate, we highlighted fault points using a two-dimensional moving range filter and discriminated defect production through a unanimous vote among Mahalanobis classifiers for each color component. For results, we achieved a lower error rate than the current system. This research is an empirical study of how to use image data in defect detection.     

When do the stock market returns to new product preannouncements predict product performance? Empirical evidence from the U.S. automotive industry

Substantial research has examined how stock market reactions to marketing actions affect subsequent marketing decisions. However, prior research provides limited insights into whether abnormal stock returns to a marketing action actually predict the future performance resulting from that action. This study focuses on new product preannouncements (NPPAs) and investigates the relationship between short-term stock market returns to an NPPA and the post-launch new product performance under various industry and firm conditions. Findings based on a dynamic panel data analysis of 208 NPPAs in the U.S. automotive industry between 2001 and 2014 reveal that stock returns associated with an NPPA are not an appropriate forward-looking measure of future product performance. However, under specific conditions (i.e., when the preannouncement is specific, the preannounced new product has low innovativeness, the preannouncing firm has a high reputation and invests heavily in advertising, and the preannouncement environment is less competitive), abnormal stock returns to NPPAs actually predict the future performance of new products. Thus, this study extends the marketing–finance and innovation literature with its focus on the conditions that affect the predictive power of immediate stock returns for the future performance of new products.