Semi-peripheral Financialisation and Social Reproduction: The Case of Portugal

Portugal, a semi-peripheral country within the world economy, has followed financialisation processes similar to and distinct from those of core countries. This article reflects on the factors that have shaped social reproduction in Portugal by examining the differentiated ways through which finance has interacted with the provision of housing, pensions and water and their variegated impacts. Based on these three case studies, the article discusses the constraints on, and pressures for, continued expansion of finance in the aftermath of the Global Financial Crisis. It underlines the subordinated and uneven nature of Portuguese semi-peripheral financialisation, the role of European integration in its unfolding, and concludes that the promotion of the interests of finance located in major advanced capitalist countries, and of the national and international institutions under their influence, has resulted in growing social and spatial inequalities.     

Tourist accommodation,consumption and platforms

The expansion of mediated accommodation on peer to peer (P2P) platforms, such as Airbnb, has generated extensive economic impact and structural changes in all the destinations involved. This study proposes an innovative analysis which estimates the economic impact associated with the expenditure of tourists staying in traditional hotel establishments in comparison to the impact of those staying in tourist housing mediated through P2P platforms. This research analyses fieldwork based on 1343 surveys carried out in the city of Granada, one of the main tourist destinations in Spain. Through the application of the input–output methodology we found that tourists staying in tourist housing mediated through P2P platforms generate a greater impact as a consequence of longer average stays and more heterogeneously distributed consumption. Their average expenditure is similar to that of tourists in hotels, but the indirect impact generated is greater. Consequently, we can better comprehend the economic impact associated with these platforms and their real effect. Public planners have to consider this information as part of the regulation and restriction of this activity.     

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...     

You ruined our love story,but I just cannot hate you—A moderation–mediation analysis of past experienced brand love and brand hate

The development of the consumer–brand relationship is crucial for brands as it reflects how well a consumer is emotionally connected with the brand. However, due to unacceptable behaviour, brands have become susceptible to negative consumer–brand relationships. Given the recent importance of the negative consumer–brand relationship and its consequences, little is known about the role of previously experienced brand love. Studies support the link between strongly remembered events and experiences, customer knowledge, brand association, and consumer congruence with brands in creating long-lasting influence and deep emotion towards the brand. The study examines moderation–mediation analysis of past experienced brand love and brand hate. This research, anchored in consumer brand relationship literature, builds on an analysis of data from 207 respondents. We conducted a research survey in a South-Western European country and performed the SPSS Hayes Process macro 58 to analyse the moderating role of past experienced brand love alongside the mediating role of brand hate to test our hypotheses. The moderation results show that past experienced brand love significantly moderated the link between brand hate causes (corporate wrongdoings) and brand hate. However, there is no significant moderation influence of past experienced brand love on the consequences of brand hate causes. The study also demonstrates that brand hate mediates the link between corporate wrongdoings and violations of expectations with negative word of mouth, consumer complaints, and patronage reduction/cessation. The current study is unique in that it highlights new avenues in existing research by extending the domain in consumer–brand relationships. The findings of the study have theoretical and empirical implications for brand managers.     

Four decades of negative word-of-mouth and negative electronic word-of-mouth: A morphological analysis

Customers voice their negative brand experiences to their family and friends in the form of negative word-of-mouth (NWOM). Web 2.0 enables the sharing of NWOM in electronic format on various social media sites, online customer review forums, and blogs, which is known as negative electronic word-of-mouth (NeWOM). Researchers need to study the spread of NWOM/NeWOM to prevent adverse consequences for companies and suggest an optimal response for its redressal. Existing literature review studies have focused on word-of-mouth (WOM) and electronic WOM (eWOM) and have considered both positive and negative WOM and eWOM concurrently. Past literature reviews have captured the breadth of the WOM domain, ignoring the depth. This research article contains a review of 282 journal papers capturing the depth of the extant literature by focusing solely on ‘negative’ WOM and eWOM (NWOM and NeWOM), and presents a broad view of the NWOM and NeWOM domains using morphological analysis (MA). This will help to conceptualize and categorize the existing state-of-the-art literature into broad dimensions and identify future research opportunities. The MA framework helps to bifurcate this literature into the following four dimensions: (i) nomenclature of NWOM and NeWOM, (ii) antecedents of NWOM/NeWOM, (iii) impacts of NWOM/NeWOM, and (iv) prevention and recovery response to NeWOM. Further dissection of these four dimensions leads to 15 sub-dimensions and 217 variants. Combinations of the 217 variants enable the identification of 550 novel future research opportunities in the area of NWOM and NeWOM.     

When Appraisers Go Low,Contracts Go Lower: The Impact of Expert Opinions on Transaction Prices

The Journal of Real Estate Finance and Economics - Using home purchase loan application data, we study buyer responses to the uncommon occurrence of the appraised value coming in below the contract...     

Not an ordinary bank but a great engine of state: The Bank of England and the British economy, 1694–1844

From its foundation as a private corporation in 1694, the Bank of England extended large amounts of credit to support the British private economy and to support an increasingly centralised British state. The Bank helped the British state reach a position of geopolitical and economic hegemony in the international economic order. In this paper, we deploy recalibrated financial data to analyse an evolving trajectory of connections between the British economy, the state, and the Bank of England. We show how these connections contributed to form an effective and efficient fiscal–naval state and promote the development of a system of financial intermediation for the economy. This symbiotic relationship became stronger after 1793. The evidence that we consider here shows that although the Bank was nominally a private institution and profits were paid to its shareholders, it was playing a public role well before Bagehot's doctrine.