Money creation and economic activity

Summary In the Netherlands not much attention is paid to money supply figures as an indicator of actual monetary conditions. This can be partly explained by the publication lag and the continuous revisions of seasonally adjusted data. However, the information that can be derived from money supply figures is limited because of temporary disturbances originating from the foreign exchange market. In this paper a correction method for these temporary disturbances is proposed. Money supply figures show a much closer link to real economic activity when corrected in this way.A different version of this essay with less emphasis on Holland but more information about other West-European countries has been published as chapter II Watching the money supply in: Eduard J. Bomhoff,Monetary Uncertainty, Amsterdam and New York, 1983. We gratefully acknowledge the able research assistance of Isolde B. Woittiez and Geert Rouwenhorst; Kempen and Co. kindly provided the two figures.     

野狼也温柔从创意到品牌大理想

故事发生在积雪覆顶的雪山上,一个迷路的旅行者在寒冷的暴风雪中苦苦寻找一个落脚点,沿途一直有野狼紧随其后、伺机而动。饥寒交迫中,他终于忍不住而晕倒在地。狼群奔向晕倒的旅行者,静静地依偎在他身上、为他取暖。“不是非要相识,才能相拥入怀。”     

Eco-innovation for environmental sustainability: concepts, progress and policies

There is increasing scientific evidence that natural systems are now at a level of stress globally that could have profound negative effects on human societies worldwide. In order to avoid these effects, one, or a number of technological transitions will need to take place through transforming processes of eco-innovation, which have complex political, institutional and cultural, in addition to technological and economic, dimensions. Measurement systems need to be devised that can assess to what extent eco-innovation is taking place. Environmental and eco-innovation have already led in a number of European countries to the establishment of substantial eco-industries, but, because of the general absence of environmental considerations in markets, these industries are very largely the result of environmental public policies, the nature and effectiveness of which have now been assessed through a number of reviews and case studies. The paper concludes that such policies will need to become much more stringent if eco-innovation is to drive an adequately far-reaching technological transition to resolve pressing environmental challenges. Crucial in the political economy of this change will be that eco-industries, supported by public opinion, are able to counter the resistance of established industries which will lose out from the transition, in a reformed global context where international treaties and co-operation prevent the relocation of environmentally destructive industries and encourage their transformation.     

Lessons from My School

This article presents analyses of the National Assessment Program – Literacy and Numeracy (NAPLAN) data and data on other indicators that are made available through the My School website. There are large differences across states and types of schools (independent, Catholic and government) in the Year 3 NAPLAN outcomes, though the differences across states tend to diminish as outcomes for later years of study are examined. Some schools are shown to consistently have academic outcomes better than their characteristics would otherwise indicate; conversely, other schools are shown to consistently have academic outcomes below the levels their characteristics would otherwise indicate. Few of these differences are statistically significant.     

Race and employment dislocation in California’s aerospace industry

This article finds that African American and Latino workers have borne a disproportionate share of employment costs associated with defense cuts in California’s aerospace industry. The data for this analysis come from administrative files, which contain demographic and employment-related information for everyone who collects unemployment-insurance benefits. The analysis shows that African Americans suffered higher displacement rates, longer unemployment spells, and poorer outcomes in new jobs than whites. Latinos were disadvantaged in several ways, but not consistently in all categories. Asian Americans, on the other hand, generally fared better than whites. These results show that economic dislocation, in the form of defense cuts, reinforces racial inequality in the labor market.     

An emerging market multinational Company's internationalization: From original equipment manufacturer to global brand leader

We examine an emerging market multinational company's (EMNC's) transformation from an original equipment manufacturer (OEM) to an original brand manufacturer (OBM) and global leader. Our longitudinal study of Hisense—China's largest TV company (and the world's third largest) spans three decades and involves detailed interviews with over 50 executives. We study how the company's global value chain network evolved, how it reconfigured its organization, upgraded its capabilities, and enhanced its brand reputation. We develop propositions that may contribute to improved explanations for an EMNC's internationalization sequence, development of competitive advantages, overseas management practices, and brand building.     

The informative and persuasive functions of advertising: A moral appraisal

Advertising can be regarded as having two separate functions, one of persuading and one of informing consumers. Against some who claim that persuasive advertising using irrational means is moral as long as the product or service it represents is good or useful, this paper argues that by denigrating human reason such advertising is always immoral. On the other hand, advertisements which present information in a straight-forward and truthful way are always moral no matter what they advertise; indeed, only such advertisements are moral.     

The effects of a plant closure on the stress levels and health of workers' wives — A preliminary analysis

In recent years an increasing amount of information leaves no doubt that the costs to the victims of plant closures are more than economic. The stress occasioned by job loss often results in ill health. These findings aside, little systematic research has been done of the consequences of unemployment for the spouses of the unemployed. In this article, a comparison is made between the effects of a closure on unemployed male employees and their wives. It is found that both groups suffer a high degree of anxiety over future job prospects and both experience a high level of stress as a result of the closure. However, for wives, anxiety, but not general stress, leads to ill health. For men, neither appears to have health implications: post-closure illness is related to illness prior to the shutdown. In one sense, two months after the closure, it can be argued that the impact of the shutdown was greater on wives than unemployed former employees.