On the Complementarity of Equilibrium Exchange‐Rate Approaches

Based on a simple, stock–flow adjustment framework, we show that existing concepts of equilibrium exchange rates can be viewed as realizations of the same model at different time horizons. We then compare fundamental and behavioral estimations of equilibrium exchange rates based on the same, econometric modeling of the net foreign asset position in the long run, for a panel of 15 countries over the 1980–2005 period. These estimations suggest that, although more robust to alternative assumptions, the BEER approach may rely on excessive confidence on past behaviors in terms of portfolio choices. Symmetrically, FEERs may underestimate the plasticity of international capital markets because they focus on the adjustment of the trade balance.     

Is Globalization Weakening the Inflation–Output Relationship?

This paper investigates whether trade and financial openness has weakened the inflation–output trade‐off and caused a shift in the preferences of monetary authorities. Based on the backward‐looking Phillips curve and a Taylor‐type interest rate rule, our results for France, the UK and the USA for the 1970–2012 period do not provide support for the relevance of globalization in making inflation less responsive to output expansions. Moreover, the change of preferences of Central Banks towards growth‐oriented objectives is neither due to higher trade nor to financial globalization.     

From Occupation to Recuperation: Property,Politics and Provincialization in Contemporary Madrid

Recent debates have once again engaged with the substance and meaning of urban politics within our increasingly complex and startling contemporary landscapes. Yet these debates, while giving nods in the direction of feminist and postcolonial scholarship, largely work through traditional lenses of class, labor and the dynamic workings of neoliberal capitalism. In this article, I focus on spaces of difference and their engagement with the urban to demonstrate how politics ‘happens' in locations often left off the map of both scholarship and popular imaginaries, and, crucially, how those locations can, in fact, illuminate shifting political arrangements elided by other methodologies. By juxtaposing European okupa debates with postcolonial discussions of urban informality, I trace what I argue is a new iteration of squatting within a city both ravaged by edicts of neoliberal austerity and buoyed by the efflorescence of social movements and alternative political projects. I then explicate the role of property in constituting the urban within Spain, using the concept of ‘provincialization'. In doing so, I think relationally between systems of property and emergent forms of insurgency to argue that we are witnessing an anticipatory politics that fundamentally challenges hegemonic relationships between everyday citizens and regimes of property ownership.     

Product Design: Preference for Rounded versus Angular Design Elements

Two experiments tested whether a general relative preference for objects with rounded rather than angular form (Bar & Neta, 2006, 2007) can be applied in the context of the design of consumer products. Images of product packaging—a chocolate product (Experiment 1) and water and bleach bottles (Experiment 2)—were manipulated with regard to the shape of both contour and graphics. There was a preference for rounded designs that extended to self‐report purchase likelihood—with additive effects of contour and graphics shape that could not be accounted for by design typicality or perceived ease of use.     

Challenges facing international projects for entrepreneurial development in South Africa

International development projects that support entrepreneurship face a number of challenges, not least because they need to integrate different paradigms. Based on the case study of a Canadian non-governmental organisation in South Africa, this paper provides an exploratory assessment of these challenges and highlights four major factors that affect the success of such international projects: transposing a northern business model to the south; developing local roots and adapting to the local context; balancing the allocation of resources between managing the project and providing services to entrepreneurs; and aligning the cultures of the private sector and international development agencies. In practical terms, the findings provide benchmarks for the success of these projects and could help improve interventions that encourage entrepreneurship in developing countries.     

The strategic decision making of entrepreneurs within small high innovator firms

The study examines strategic decision making among entrepreneurs from small firms engaged in early stage commercialisation. It is based on a questionnaire survey of 57 firms and the results suggest that if entrepreneurs within small innovator firms feel the innovation can be commercialised with relatively few obstacles they will tend to downgrade the importance of external advisors. Greater value is placed on the views of customers and where the entrepreneur has the power to proceed with the innovation without recourse to other stakeholders he/she is most likely to go ahead if a positive response is received from leading customers. The article expands upon these findings to outline the design, development and application of a diagnostic assessment and screening tool to assist such entrepreneurs, formulate more systematic strategies than the response to an initial customer.     

Quantifying the advantage of secondary mathematics study for accounting and finance undergraduates

We examine the role that secondary mathematics plays in the performance of students in introductory business courses. Students who pass more advanced secondary mathematics subjects perform significantly better in introductory business courses. This ‘mathematics effect’ is significantly stronger than the effect of other business‐related secondary subjects, such as economics or accounting. Our findings also confirm previous studies showing that secondary accounting is beneficial for studying first‐year tertiary accounting. Interestingly though, we find that studying secondary economics can detract from a student's introductory tertiary results in some courses. Our findings have implications for educators and administrators as well as current secondary students.