Do Migrants Rob Jobs? New Evidence from Australia

This study contributes to the recent debate on immigration and unemployment in Australia by investigating the causal linkage between immigration and unemployment. The question of whether 'immigrants rob jobs' is examined by identifying the sources of unemployment through causal linkages between unemployment and other key variables such as immigration. The research finds no Granger causality between immigration and unemployment, but does run from industrial structural change to the high unemployment rate in Australia. This research also finds that both GDP growth and immigration inflow reinforce each other in the course of economic development in Australia.     

Dynamic mode decomposition for financial trading strategies

We demonstrate the application of an algorithmic trading strategy based upon the recently developed dynamic mode decomposition on portfolios of financial data. The method is capable of characterizing complex dynamical systems, in this case financial market dynamics, in an equation-free manner by decomposing the state of the system into low-rank terms whose temporal coefficients in time are known. By extracting key temporal coherent structures (portfolios) in its sampling window, it provides a regression to a best fit linear dynamical system, allowing for a predictive assessment of the market dynamics and informing an investment strategy. The data-driven analytics capitalizes on stock market patterns, either real or perceived, to inform buy/sell/hold investment decisions. Critical to the method is an associated learning algorithm that optimizes the sampling and prediction windows of the algorithm by discovering trading hot-spots. The underlying mathematical structure of the algorithms is rooted in methods from nonlinear dynamical systems and shows that the decomposition is an effective mathematical tool for data-driven discovery of market patterns.     

Egalitarianism and international investment

This study identifies how country differences on a key cultural dimension—egalitarianism—influence international investment flows. A society's cultural orientation toward egalitarianism is manifested by intolerance for abuses of market and political power and a desire for protecting less powerful actors. We show egalitarianism to be based on exogenous factors including social fractionalization, dominant religion circa 1900, and war experience from the 19th century. We find a robust influence of egalitarianism distance on cross-national flows of bond and equity issuances, syndicated loans, and mergers and acquisitions. An informal cultural institution largely determined a century or more ago, egalitarianism exercises its effect on international investment via an associated set of consistent contemporary policy choices. But even after controlling for these associated policy choices, egalitarianism continues to exercise a direct effect on cross-border investment flows, likely through its direct influence on managers' daily business conduct.     

An occupational hazard? Sex segregation in tourism employment

This article presents data from an exploratory study carried out over a 12 month period using qualitative research methods. The study tests theoretical concepts adapted from the model of the ‘vicious circles of job segregation’ (Collinson et al., Managing to Discriminate. Routledge, London, 1990) in the specific context of tourism organizations. It examines factors which contribute to the sex segregation of employment in selected tourism organizations, and the role of equal opportunities policies in resisting segregationary practices. The findings of this initial research conclude that participating tourism organizations rationalize job segregation in relation to the culture of tourism. In addition, the informality of internal recruitment systems serves to reproduce existing organizational structures. There is evidence to suggest that use of equal opportunities policies can provide one possible means of resistance to such segregation.     

Choice Modeling and Tests of Benefit Transfer

Benefit transfer is increasingly being used by decision makers as a way of estimating environmental values suitable for use in benefit cost analysis. However, recent studies examining the validity of benefit transfer of passive use values estimated using contingent valuation have rejected the hypothesis of convergent validity. In this article, we demonstrate the usage of a form of conjoint analysis known as choice modeling for benefit transfer. Choice modeling has been touted as being particularly suitable for benefit transfer because it is possible to allow for differences in environmental quality and socioeconomic characteristics when transferring benefit estimates. We demonstrate that choice modeling is suitable for benefit transfer, particularly when the transfers involve implicit prices. Second, we examine the circumstances in which benefit transfer of choice modeling derived value estimates is likely to be most valid. Two split sample tests were undertaken to achieve this objective. The evidence from these tests indicates that transfers across different case study sites are likely to be subject to less error than those across different populations.     

Resort mystery shopping: A case study of hotel service

ABSTRACT

Mystery shopping is a common mode of improving customer service in retail and hospitality businesses, but researchers rarely utilize the methodology in academia. In these business entities, high-level quality standards are paramount to customer satisfaction, and mystery shopper reports have been found to be indicative of an organization’s service quality. This study employed a mixed-method approach, utilizing qualitative and quantitative procedures to examine a mystery shop program from within a resort hotel in the Southeastern US. The researchers used seven service principles which were established by the resort hotel. Mystery shoppers surveyed this specific service culture for a span of 13-months. The results suggested that managers need to re-examine service principles to ensure consistent employee performance and guest experiences.     

Issues in benefit-cost analysis of agricultural research projects

Use of benefit-cost analysis for economic comparison of agricultural research projects remains confounded, inter alia , by lack of rigour in specifying the without-project scenario and how benefits from an innovation endure after its adoption declines. Failure to account for the without-project scenario favours projects to the extent that more benefits are foregone than costs avoided. Moreover, it is unreasonable to assume generally that aggregate benefits from an innovation continue at the peak level until the end of a 30–40 year planning horizon. A general BCA model for agricultural research projects is presented to enable flexible handling of these issues.