Sector and importer determinants of prices for traded intermediates

While the literature on traded goods prices emphasizes final goods prices and related consumer theory to explain variation in goods prices with importer characteristics, trade in intermediates actually constitutes about two thirds of total trade. We propose a mechanism for explaining variations in the prices of intermediates as a function of importer characteristics, wherein production is vulnerable to failure and the probability of failure declines in the quality of intermediates. Higher wages mean a greater opportunity cost of failure, leading to a stronger demand for high-quality intermediates where firms face higher wages. We find empirical support for this mechanism in the case of intermediate goods using IV regressions. In addition, our findings indicate that while the cost of labour explains about one fifth of variation in imported intermediate prices, it is a non-significant determinant of imported final goods prices.     

A THEORY OF WAGES AND LABOR DEMAND WITH INTRA‐FIRM BARGAINING AND MATCHING FRICTIONS*

This article provides a model of labor market equilibrium with search and within‐firm strategic bargaining. We yield explicit closed form solutions with heterogeneous labor inputs and capital. The solution exhibits overemployment. We show that higher relative bargaining power for some groups of workers may lead to overemployment relative to other groups, with such other groups being underemployed instead if they have a lower relative bargaining power. Similarly, the hold‐up problem between capitalists and employees does not necessarily lead to underinvestment in physical capital.     

The persistence of profit differentials in Indian industry

Theoritical considerations suggest that spillover forces equalize wages for similar jobs. Thus, it is expected that firm wages are cointegrated with the corresponding wage rates on an industrial level. In this paper we apply various unit root tests to a panel of wage data. We show that the familiar techniques can be adopted to this type of data allowing for unobserved heterogeneity and common time effects. Our results suggest that firm and industry wages both possess a unit root in the autoregressive representation. However, ther is only weak evidence for a cointegration realtionship.     

Stabilitätsgefahren für die EWU

Die Finanzmarkt- und Staatsschuldenkrise hat zu verschiedenen Kriseninterventionen geführt. Fiskalisch wurde im Rahmen des Europ?ischen Finanzstabilisierungsmechanismus (EFSM) eine Zweckgesellschaft zur Finanzierung insolventnaher Euro-Mitgliedstaaten gegründet, für die die Einzelstaaten mit Gew?hrleistungen haften. Darüber hinaus betreibt die EZB mit Ma?nahmen der qualitativen und quantitativen Erleichterung der Liquidit?tsversorgung eine unkonventionelle Geldpolitik. Vieles spricht dafür, dass diese als Krisenintervention eingesetzten Instrumente dauerhaft institutionalisiert werden. Mit ihnen sind jedoch Gefahren verbunden — in Hinblick auf einen Wandel hin zu einer Transferunion, die Geldentwertung und die Unabh?ngigkeit der EZB.     

探讨香港-珠江三角洲的联系：跨界的制度多样性如何促进电子企业的竞争力

基于灵活性的假设下，香港和珠三角两地的企业问卷调查表明，为了应对商业环境变化对灵活性的需求，香港客户对珠三角供应商关系调整了管治模式，逐渐采取股权或非股权合作代替原先的完全控股。而在香港企业寻找新的客户、选择适当的生产合作伙伴方面，正式和非正式制度之间存在互补性。研究结果证实，在现有的正式制度框架内充分应用非正式因素，可提高企业更灵活应对政治和商业环境迅速变化的能力，以维持在全球市场的竞争力。     

Opportunities for Innovation in the Delivery of Interactive Retail Services

In today's volatile economy, innovation in providing interactive services to consumers through a variety of channels is critical in retailing. Interactive service innovations offer opportunities for retailers by creating new markets or offering new benefits in existing markets. They also pose threats as existing customers encounter new alternatives offered by competitors. This article explores some of the most promising opportunities in interactive retail services; namely, the increasing power of consumers, channel synergies, pre- and post-transaction service, optimal use of resources, and consumer heterogeneity. In discussing these areas of opportunity we identify knowledge gaps and suggest research questions relevant to these gaps that warrant attention. Collectively, these questions offer a research agenda for the topic of interactive retail service innovation.     

The German Charitable Welfare System: A Criticism from the Viewpoint of Ordnungspolitik

Charitable social welfare care constitutes the market-leader in the provision of social services. Neocorporatist structures have resulted in the latter's exceptional situation. They are characterized by a preferential position in certain circumstances compared to commercial suppliers, cartel agreements which enjoy partial legal legitimacy, financial dependence on the state, as well as a say in social policy planning. Criticism from the viewpoint of Ordnungspolitik maintains a failure of internal and external controls, and above all of competitive structures. Possible starting points for a reform may be founded on the guarantee of equal opportunities and of non-discrimination against commercial suppliers. The governmental monopsonistic power should be removed by a decentralization of bargaining. In addition to this, the position of those having a right to such services needs to be strengthened by greater individual assistance combined with monetary allocations.     

Measuring Consumer Ethnocentrism: An Assessment of Reliability,Validity and Dimensionality of the CETSCALE in a Developing Market

ABSTRACT

Based on 305 surveyed consumers in Zimbabwe’s two major cities (Harare and Bulawayo), the study sought mainly to measure consumer ethnocentrism and to test psychometric properties of the CETSCALE in Zimbabwe using structural equation modeling. It was established that the construct of consumer ethnocentrism comprises two dimensions, namely negative influence of foreign products, and preference for domestic products. Consumer ethnocentrism was found to be moderately high. The psychometric properties of the CETSCALE tested above the required thresholds. Consumer ethnocentrism was found to negatively influence consumer attitude towards imported poultry products. The study has implications for managers and future researchers.