Inflation and stagflation

This paper reports on the author's theoretical and empirical research which has supported the following propositions. First, the change in the rate of inflation from one year to the next depends upon the growth of the money supply less the current rate of inflation. The current unemployment rate does not significantly affect whether the rate of inflation will rise or fall. If the monetary authorities raise the rate of monetary expansion above the current rate of inflation, the latter will rise regardless of the slack in the economy. Second, the change in the unemployment rate from one year to the next depends upon: (a) the deviation of the current unemployment rate from its equilibrium value and (b) the growth of the money supply less the current rate of inflation. The first effect concerns wage flexibility and the second effect concerns the shift of the aggregate demand (C+I+G) curve.     

Defining the ethical standards of the high-technology industry

At least five sets of ethical standards influence business people's decisions: general cultural, company, personal, situational, and industry standards. Each has an official or espoused form encoded in written documents such as policy statements and codes of ethics and an unofficial form that develops as people use the espoused standards. (We call these unofficial standards values in action.) To determine whether the high-technology industry deserves its reputation for moral laxness, a pilot questionnaire was designed. It asked employees to rate the acceptability in the workplace of ethical behaviors relating to safety, third parties, and cheating the company. The findings show that employees in high-and low-technology industries uphold espoused values of safety. Relations with third parties are influenced by the existence of company codes of ethics, especially in small companies. Actions involving cheating the company need to be investigated further.Nancie Fimbel is an Associate Professor of Business Ethics and Business Communication at the School of Business, San Jose State University. Jerome S. Burstein is the author of Computers and Information Systems (2nd ed.), a popular textbook in computer science. He is an Associate Professor of Information Resource Management at the School of Business, San Jose State University.     

Two‐part Pricing,Public Discriminating Monopoly and Redistribution: A Note

This note analyzes some properties of optional two‐part pricing in a two‐type economy. First, the optimal contracts along the Paretian frontier are described. Then, the duality relation between the Rawlsian program and the discriminating monopoly is demonstrated. Last, this property is used to build a mutualist mechanism implementing the constrained Pareto optima.     

Leveraging the Existing US Healthcare Structure for Consumer Financial Well-Being: Barriers,Opportunities, and a Framework toward Future Research

Healthcare exchange often contains peril for consumers because of numerous barriers to financial well-being (FWB). Rather than ruing specific agendas of healthcare policy, we embrace a neutral and immediately actionable approach. The authors promote gains in healthcare's current composition by empowering consumers to be proactive, where possible, in reducing power inequities and improving their own FWB. As such, the authors identify primary barriers to the FWB of healthcare consumers and propose individual opportunities within the existing healthcare structure that are likely to improve fiscal outcomes. Moreover, the current research demonstrates collaborative paths wherein power-holders (i.e., practitioner, researcher, consumer, government) can collaborate toward and/or contribute to the same financial health. A proposed theoretical framework, with foundations of power-responsibility equilibrium and transformative service research, gives rise to future research directions. This research is intended to provide a foundation for healthcare and FWB thought/action, and to guide coming scholarly offerings.     

The Impact of Consumer Behavior and Service Perceptions of a Major Sport Tourism Event

The Honolulu Marathon has consistently provided a positive economic impact to the state of Hawaii's economy. The purpose of this study was to assess the economic benefits of the 2007 Honolulu Marathon by runners from outside the state of Hawaii and their traveling companions on the city of Honolulu. Another purpose of this study was to compare the service perceptions of Japanese participants with those of English-speaking participants, with a focus on examining opportunities to increase economic contributions from the two groups. The 2007 Honolulu Marathon is the third largest marathon in the USA and six largest in the world, with over 27,000 runners registered. Only the New York City Marathon (34,729) and the Chicago Marathon (32,332) are larger. Of the 27,000 registered participants of the Honolulu Marathon, 19,500 runners are residents from outside the state of Hawaii. The data used in this study were collected by distributing a research instrument to marathon participants. The instrument consisted of 18 questions regarding length of stay, accommodation, and the amount of money spent by the marathon participants for food, lodging, souvenirs and other miscellaneous items while attending the marathon activities in Honolulu. A total of 1,643 participants completed the surveys for this study. Examination and analysis of these results will prove to be very helpful in determining the economic benefit the Honolulu Marathon has on Honolulu and the state of Hawaii.

The Honolulu Marathon accounted for an economic impact of $108,890,000 that generated $3.7 million in state taxes. The opportunity for internationally diverse participatory sports events to increase tourism substantially, especially in the state of Hawaii, suggests that further research in this area is necessary.     

非均衡复苏下的货币政策调整

实现充分就业和物价稳定是美联储货币政策的坚定目标.当前,美国劳动力市场持续好转,就业稳步恢复,但长期失业率仍然居高不下,劳动力市场依然疲软.与此同时,随着美国经济的快速复苏,通货膨胀急剧上升.然而,根据美联储评估情况可知,全面通货膨胀尚未形成,长期通货膨胀预期基本稳定,此轮通货膨胀是暂时的,历史经验表明,如果为了应对暂时性通货膨胀而收紧货币政策可能弊大于利.因此,美联储将继续实施当前资产购买计划,直到充分就业和物价稳定取得实质性进展.但即使结束该计划,美联储仍将继续支持宽松的金融环境,未来减少资产购买也不是加息的信号.     

Social learning: A knowledge and capacity building approach for adaptive co-management of contested landscapes

There is increasing recognition in the field of natural resource management that transformative adaptation to climate and policy change requires cross industry learning and cooperation at the landscape scale. This can be supported by the development of systematic methodology on learning models for adaptive co-management between diverse and conflicting landscape managers. Our example of land-use change to hardwood plantation forestry in sub-tropical Australia illustrates an innovative implementation framework for a social learning process that helped build knowledge and community capacity for adaptive co-management of dynamic and shared landscapes. The action research methodology relied on deliberation over local knowledge, existing and emergent scientific findings, resulting in attitudinal change. Processes required facilitation and mediation by a bridging organisation, in this case a research institution, to support cross-scale communications. Reflections suggest that attention is required to manage risk and support stakeholder analysis, particularly in understanding contested values and overcoming power differentials between industry and self-interest groups. Resolving funding issues will require greater consideration by governments and industry groups of their social responsibilities to communities and the environment; particularly as this social learning model is posited for more broad-scale use in providing multi-level governance linkages and as a basis for targeting interventions to address policy gaps or failure.     

Developing an effective industrial cluster from strawberry farms： A case of Dahu Township in Taiwan

Dahu, a small township in northern Taiwan, is famous for its produce of strawberries. Near Dahu, there are some attractions, such as hot springs, native Taiwanese tribes and a national park named Shei-pa. In order to better support more small businesses in this area, the local government is eager to promote an industrial cluster of agriculture and tourism based on the well-developed strawberry farms. In this research, the authors investigated 200 strawberry farmers to examine forming factors of the cluster, and effects of cluster on organizational performance. The findings are firstly, capital resource is regarded as the most effective forming factor of the cluster. Secondly, institutionalization, interaction mechanism and knowledge flow positively intermediate the clustering effects on organizational performance. These findings have important implications for the local government and the businesses as well.