Lessons from Japan: American and Japanese strategies and goals in the 1990s

This article recounts various Japanese business approaches touted in the 1980s as “Lessons from Japan” for U.S. managers. The logical expectation, given the sheer bulk of the literature, was that U.S. managers would become more “Japanese” in their business strategies and goals while the Japanese would have become more entrenched in their approaches. Questionnaire responses from 95 Japanese and 70 American firms suggest, however, that U.S. managers tend to make few shifts from the strategies and goals they emphasized in the 1980s. Meanwhile Japanese managers report that they expect to move toward more “American” business practices. © 1993 John Wiley & Sons, Inc.     

Central bank communication and correlation between financial markets: Canada and the United States

We study the correlation between pairs of bond and stock markets in Canada and the United States between January 1998 and December 2009 in the framework of diagonal-BEKK models. Our research question is whether monetary policy actions and communications by the Bank of Canada and the Federal Reserve significantly affect the conditional co-movement of financial markets (i) within Canada and (ii) between Canada and the United States. We find that central bank communication significantly increases the correlation of financial markets within and across the two countries and is particularly important for the correlation of Canadian and US long-term interest rates.     

Finance,inequality and the poor

Financial development disproportionately boosts incomes of the poorest quintile and reduces income inequality. About 40% of the long-run impact of financial development on the income growth of the poorest quintile is the result of reductions in income inequality, while 60% is due to the impact of financial development on aggregate economic growth. Furthermore, financial development is associated with a drop in the fraction of the population living on less than $ 1 a day, a result which holds when conditioning on average growth. These findings emphasize the importance of the financial system for the poor.      

Retail Characteristics and Ownership Structure

The choice of vertical relationships between an upstream manufacturer and a set of heterogeneous downstream retailers/entrepreneurs is examined using a principal-agent framework. Standard principal-agent theory predicts that as unobservable effort exerted by the retailer/entrepreneur becomes more important to the manufacturer, contracts between the manufacturer and agent will entail strong incentives and less direct control. The observability of effort is linked to retail characteristics in the gasoline industry, and station-level data on retail characteristics and ownership structure from every gasoline station in the Los Angeles retail gasoline market from 1992–1996 confirm the model's predictions.     

Öffentlich-rechtlicher Rundfunk in der Krise

The German system of public broadcasting has arrived at a crisis point: too many lightweight channels, too many soap operas and boulevard magazines, too little on culture and too much on celebrity. Wasted investments, product placements, misappropriation of funds and fraud led to public commotion over the German public broadcasting system, which is funded with more than 7 billion euros per year. Is German public broadcasting worth all this money? In view of these recent affairs, the debate on reforming public broadcasting in Germany has gained momentum; several ideas for reform are addressed in this article.     

Small and Medium Enterprises Across the Globe

This paper analyzes the relationship between the relative size of the small and medium enterprise (SME) Sector and the business environment in 76 countries. The paper first describes a new and unique cross-country database that presents consistent and comparable information on the contribution of the SME sector to total employment in manufacturing and GDP across different countries. We then relate the importance of SMEs and the informal economy to indicators of different dimensions of the business environment. We find that several dimensions of the business environment, such as lower costs of entry and better credit information sharing are associated with a larger size of the SME sector, while higher exit costs are associated with a larger informal economy.      

Das transatlantische Freihandelsabkommen — Relativierung von Chancen und Risiken

Since June 2013, negotiations have been underway between the U.S. and the EU on the Transatlantic Trade and Investment Partnership (TTIP). Proponents of the envisaged agreement predict significantly positive effects on growth and employment. Critics, however, fear a reduction of existing standards, such as consumer or environmental protections, or abuse of the scheduled Investor- State Dispute Settlement (ISDS). The often very contrary positions recall the hopes and fears associated with the establishment of the European Single Market in the early 1990s. Against the background of the realised growth and employment effects of the much wider EU single market project and the significantly lower economic ties between the EU and the U.S., both the expected growth momentum as well as the potential risks of the TTIP need to be qualified.     

Vaccination Gap,Vaccination Fraud and Inefficient Testing

Intereconomics - A number of shortcomings in Germany’s efforts to contain the spread of the coronavirus, including fraudulent testing, vaccination fraud and insufficient testing capacity have...     

Brauchen wir ein öffentlich-rechtliches Angebot im Internet?

Der Druck auf die Politik steigt: Mit aller Macht wollen die ?ffentlich-rechtlichen Sender ihr Angebot im Internet ausweiten – sehr zum ?rger der privaten Konkurrenz und der Kritiker des ?ffentlich-rechtlichen Rundfunks. Mit dem Entwurf zur anstehenden ?nderung des Rundfunkstaatsvertrags gewinnt diese Diskussion weiter an Fahrt. Soll, darf oder muss das ?ffentlich-rechtliche Angebot im Internet ausgeweitet werden? Prof. Dr. Andrea Beyer, 52, lehrt Betriebswirtschaftslehre und Medien?konomie an der Fachhochschule Mainz; Prof. Dr. Hanno Beck, 42, lehrt Volkswirtschaftslehre an der Hochschule Pforzheim.     

Fighting debt explosion in the European sovereign debt crisis

A number of tools have been suggested for solving the European sovereign debt crisis, in particular the options of leveraging the EFSF/ESM, introducing Eurobonds and a European Troubled Asset Relief Programme (Euro-TARP). However, it is unclear how these instruments will work, given jittery financial markets, the pending sovereign default of Greece and the fear of contagion among other countries. In the following paper, these policy tools will be analysed and evaluated with respect to their effects as well as their potential power to solve the debt crisis.