Measuring personal cultural orientations: scale development and validation

Cross-cultural studies using Hofstede’s national scores to operationalize his five cultural factors at an individual level suffer from ecological fallacy, and those using self-report scales treat cultural factors as unidimensional constructs and provide little or no evidence of the construct validity and measurement equivalence of these scales. This paper reconceptualizes Hofstede’s five cultural factors as ten personal cultural orientations and develops a new 40-item scale to measure them. It also establishes the validity, reliability, and cross-cultural measurement equivalence of the new scale, and discusses its advantages over other scales.     

Cyclical equilibria in multi-sector productive economies: The role of substitution and factor intensity

The paper examines the existence of cyclical perfect foresight equilibria in a two-sector overlapping generations economy with production in which both goods enter consumption. Conditions for the existence of two types of cyclical equilibra are obtained in terms of elasticities of substitution in production and consumption, factor shares in production, and expenditure shares in consumption. The role of substitution possibilities and factor intensities is highlighted. It is shown that factor intensity assumptions are not enough to rule out cyclical equilibria and that limit cycles may exist for substantial amounts of substitution possibilities in production; what matters is the relative sizes of the consumption and production elasticities. The results are illustrated using CES functions. A dynamical simulation of an economy which exhibits a Hopf cycle is presented.     

Cost-effectiveness of brentuximab vedotin plus chemotherapy as frontline treatment of stage III or IV classical Hodgkin lymphoma

Objective: The ECHELON-1 trial demonstrated efficacy and safety of brentuximab vedotin plus doxorubicin, vinblastine, and dacarbazine (A?+?AVD) vs doxorubicin, bleomycin, vinblastine, and dacarbazine (ABVD) as frontline therapy for stage III/IV classical Hodgkin lymphoma. This analysis evaluated the cost-effectiveness of A?+?AVD from a US healthcare payer perspective.

Methods: The incremental cost-effectiveness ratio (ICER), defined as the incremental costs per quality-adjusted life year (QALY) gained, was estimated using a non-homogenous semi-Markov cohort model with health states defined on progression following frontline treatment, and for those with progression, receipt of autologous stem-cell transplant (ASCT), and progression after ASCT. Patients undergoing ASCT were classified as refractory or relapsed based on timing of progression. Probabilities of progression/death with frontline therapy were based on parametric survival distributions fit to data on modified progression-free survival (mPFS) from ECHELON-1. Duration of frontline treatment and incidence of adverse events were from ECHELON-1. Utility values for patients in the frontline mPFS state were based on EQ-5D data from ECHELON-1. Other inputs were from published sources. A lifetime time horizon was used. Costs and QALYs were discounted at 3%. Analyses were conducted alternately using data on mPFS for the overall and North American populations of ECHELON-1.

Results: The ICER for A?+?AVD vs ABVD was $172,074/QALY gained in the analysis using data on mPFS for the overall population and $69,442/QALY gained in the analysis using data on mPFS for the North American population of ECHELON-1. The ICER is sensitive to estimated costs of ASCT and frontline failure.

Conclusion: The ICER for A?+?AVD vs ABVD based on ECHELON-1 is within the range of threshold values for cost-effectiveness in the US. A?+?AVD is, therefore, likely to be a cost-effective frontline therapy for patients with stage III/IV classical Hodgkin lymphoma from a US healthcare payer perspective.

Trial registration: ClinicalTrials.gov identifier: NCT01712490.     

The Structure and Composition of India’s Exports and Industrial Transformation (1980–2000)

Abstract

This paper analyses structural change in Indian manufactured exports empirically for 143 (mainly manufacturing) industrial groupings. Trade indices such as Balassa’s revealed comparative advantage (RCA) index and variants are used. Detailed econometric analysis is employed to examine structural change. The stability and the process of the intertemporal evolution of the RCA indices is considered. Three technology categories (high technology, medium technology and low technology) are analysed individually. Our results point towards substantial industrial restructuring in manufactured exports. We find evidence of despecialisation within India’s manufactured exports for the time period studied, which is consistent with increasing specialisation in a subset of manufactured exports.     

The Labor Market Effects of FDI: A Panel Data Evidence from Mexico

ABSTRACT

This paper explores the effects of Foreign Direct Investment (FDI) inflows on six labor market outcomes by using a panel data of the Mexican states from 2005 to 2015. By relying on the system Generalized Method of Moments estimator to address potential endogeneity of FDI in the labor market outcomes regressions, this study finds that the FDI inflows result in a reduction in the overall unemployment rate. Moreover, the FDI is associated with a decrease in the percentage of employed people with the need and availability to offer more working hours and an increase in the median hourly wage rate. The FDI is not likely to influence the critical employment, informal sector employment, and unemployment duration.     

Fiscal deficits,banking crises and policy reversal in a semi-open economy

We study the effect of domestic policies and external shocks in a semi-open economy characterized by incomplete liberalization of the financial sector. We argue that in such transition economies stabilization programs can have a negative impact on the fiscal imbalances, offsetting to some extent the very achievement of the stabilization program. We develop a simple general equilibrium model which allows propagation of shocks in the presence of government guarantees and imperfect capital mobility. We also empirically test the impact of positive foreign interest shock on the Indian economy using a reduced form VAR approach. The econometric evidence, though broadly consistent with the main predictions of the model, suggests no significant impact of foreign interest rate shock on output and credit. We conclude that incomplete liberalization of the financial sector in transition economies has two effects. It reduces i) exposure to external financial shocks (like the current credit crisis) and ii) ability to deal with real sector shocks (which may arise from global recession in the medium term) due to endogenous policy reversals and presence of government guarantees.     

Cointegration of price measures: Evidence from the G-7

This study addresses index-dependency of empirical results associated with the purchasing power parity (PPP) relationship. Using four key price indices involving the G-7 nations, empirical tests for long-run co-movement are conducted. A test for linear restrictions is imposed. The speeds of adjustment are calculated for statistically significant linear combinations. The speed of the short-run response to disequilibrium differs both within and across countries. The seven-country average reveals that the CPI has the quickest recovery response to a one-time disturbance. The findings suggest that PPP results are not dependent upon the choice of index when an explicit set of indices is cointegrated.(JEL F3)     

Tourism and rural settlements Nepal’s Annapurna region

Functional and humanist perspectives relevant to counterurbanization studies are applied to examine the processes of growth and development of rural settlements affected by tourism. Based on a survey of tourism lodges located in several settlements in the Annapurna region of Nepal, this paper analyzes tourism-induced growth in such accommodations and its implications on changing characteristics. Results suggest the emergence of a hierarchical structure of rural settlements with core and peripheral traits. A normative classification of induced patterns defined by their development stage, size, and function is proposed. Historical, social, and economic influences on the transformation of rural settlements are discussed.