Alternative balanced scorecards built from paradigm models in strategic HRM and employment/industrial relations and used to measure the state of employment relations and HR system performance across U.S. workplaces

This paper constructs alternative balanced scorecards based on high‐performance work system (HPWS) and employment relations system (ERS) models. The models are depicted and compared in diagrams and used as framework skeletons for building separate HPWS and ERS scorecards, intended to provide a detailed data picture of the operational health and performance of an organization's employment/HR system and its operations, processes, and inputs/outputs. The scorecards are filled in with nationally representative data from 2,000+ U.S. workplaces using more than 50 employment/HR indicators, as reported by separate panels of managers and employees. The indicators for each workplace are aggregated into an overall HR/employment system score, ranked from low‐to‐high, and graphed as frequency distributions. These distributions provide a unique snapshot picture of the mean and dispersion of the state of employment relations and HR system performance for companies across the United State. They also reveal that “models matter” since the HPWS and ERS scorecards provide distinctly different evaluation assessments.     

供应链金融智慧化创新的内在机理研究——基于扎根理论的探索性分析

文章基于10个智慧供应链金融案例,对供应链金融中信息通信技术的赋能机制、作用机理及所实现的智慧效应进行了梳理,报告了供应链金融进行智慧化创新的内在逻辑.通过采用扎根理论方法,展开实践案例资料调查,反映了供应链金融业务迫切需要新的技术支撑以解决资金供需双方的信息不对称问题,进而构建出"需求—手段—中介—效应"这一供应链金融创新机理模型,揭示了供应链金融智慧化创新的路径方法.     

老龄化与碳排放：消费效应还是生产效应？——基于2002-2017年中国省级面板数据的实证研究

人口老龄化是经济增长的一大阻碍,它对碳排放的影响是做出环境政策抉择的关键因素.以中国2002—2017年的省级面板数据为研究样本,从理论与实证两个层面分析人口老龄化与碳排放的关系及影响机制.一方面,构建包含碳排放的世代交叠模型(overlapping generations,OLG),发现老龄化主要通过消费效应和生产效应两个路径对碳排放产生影响;另一方面,从实证层面发现老龄化与碳排放之间存在倒"U"形关系,而且消费效应在人口老龄化与碳排放的关系中起到部分中介作用,生产效应的影响则不显著.     

Testing the asymmetric effects of exchange rate pass‐through in BRICS countries: Does the state of the economy matter?

This paper investigates not only the question of whether there is exchange rate pass‐through (ERPT) but also the extent to which the pass‐through is asymmetric or state‐dependent in the BRICS countries. Using monthly data from 1999:M1 to 2019:M12 and non‐linear smooth transition vector autoregressive (STVAR) model, our results provide evidence of period‐specific ERPT between the upper and lower regime periods, governed by the selected transition variables. The results further suggest that the pass‐through of exchange rate is higher when the economy is experiencing large appreciations and expansions as well as large depreciations and recessions. Theimplication for these findings is that ERPT is strongly affected by the state of the economy.     

Bitcoin price and its marginal cost of production: support for a fundamental value

This study back-tests a marginal cost of production model proposed to value the digital currency Bitcoin. Results from both conventional regression and vector autoregression (VAR) models show that the marginal cost of production plays an important role in explaining Bitcoin prices, challenging recent allegations that Bitcoins are essentially worthless. Even with markets pricing Bitcoin in the thousands of dollars each, the valuation model seems robust. The data show that a price bubble that began in the Fall of 2017 resolved itself in early 2018, converging with the marginal cost model. This suggests that while bubbles may appear in the Bitcoin market, prices will tend to this bound and not collapse to zero.     

Technologies in caregiving: professionals’ strategies for engaging with new technology

This article explores the adoption of new technology in organisations that provide senior citizen care. Inspired by Niklas Luhmann’s systems theory, we study how technology reduces complexity by identifying client needs and ensuring predictability in service delivery. However, how technologies are adopted in practice is not determined by technology since it is also structured by care-workers' continuous decision-making. Against this backdrop, we explore how technologies alter the conditions for decision-making in two settings of elderly care, and we describe how care workers seek to adapt technologies to their practical needs as well as conception of care ethics. Developing a systems theory approach, the article eschews a priori assumptions of technological constraint on care-workers’ professional autonomy, offering a more open-ended exploration of diversified strategies for coping with new technology. Our case studies show that employees develop diversified strategies for technology adoption, including both non-usage, heated resistance, excessive embrace, and creative adaption.     

State‐Dependent Forward Guidance and the Problem of Inconsistent Announcements

Forward guidance can be provided as an unconditional promise, i.e. commitment to a specific low policy rate. Alternatively, the promise may include an escape clause, i.e. a condition defining the state of the economy under which the central bank would not keep such a low rate and, instead, it would revert to setting policy under discretion. The escape clause can be expressed as a threshold in terms of a specific variable. The present paper shows that, when such a threshold is expressed in terms of an endogenous variable (e.g. output, inflation), there are cases where it becomes impossible for the central bank to act in a way that is consistent with its promise. Consistency imposes limits on the policy rate that can be set since reverting immediately to the optimal discretionary rate can be incompatible with exceeding the threshold.     

Investigating the diversifying or hedging nexus of cannabis cryptocurrencies with major digital currencies

Decisions in Economics and Finance - This paper sets out to explore the nexus between cryptocurrencies connected to cannabis production and the three highest capitalization digital currencies....