Aggregate demand, conflict and capacity in the inflationary process

This paper focuses on an alternative perspective on inflationto that of the non-accelerating inflation rate of unemployment(NAIRU). It indicates that there are no automatic forces leadingto a level of aggregate demand consistent with constant inflation.Inflationary pressures arise from conflict over income shares,and from cost elements, with the price of raw materials, especiallyoil, being the most important. There are supply-side factorsimpinging on the inflationary process, which arise from thelevel of productive capacity (relative to aggregate demand).The supply-side constraints are viewed as arising from capacityconstraints, rather than from the operation of the labour market.     

Alternative empirical estimates of trade creation and trade diversion: A comparison of the Baldwin-Murray and Verdoorn models

Zusammenfassung Alternative empirische Sch?tzungen von Handelsschaf-fung und Handelsumlenkung. Ein Vergleich der Modelle von Baldwin-Murray und von Verdoorn. - In diesem Aufsatz werden die Eigenschaften zweier Modelle untersucht, die üblicherweise benutzt werden, um ex ante Handelsschaffung und Handelsumlenkung zu sch?tzen. Die Analyse zeigt, da\ beide Modelle hinsichtlich der Handelsschaf-fung zu identischen Ergebnissen führen. Im Fall der Handelsumlenkung dagegen k?nnen die Sch?tzungen je nach dem benutzten Modell differieren, was damit zusammenh?ngt, da\ unterschiedliche Annahmen über das Ausma\ der Substituierbarkeit von Importen aus begünstigten und aus nicht begünstigten L?ndern gemacht werden. Die Unterschiede in den Sch?tzungen werden anhand eines empirischen Beispiels untersucht. Au\erdem wird gezeigt, da\ bei Benutzung der Verdoornschen Annahmen das Ausma\ der Handelsumlenkung auch ohne ausdrückliche Kenntnis der Substitutionselastizit?t gesch?tzt werden kann.

---

Résumé Estimations alternatives empiriques de la création et du détournement de commerce: une comparaison des modèles de Baldwin-Murray et Verdoorn. - Cet article analyse le caractère de deux modèles normalement utilisés pour estimer ex ante la création et le détournement de commerce. L’analyse indique que les deux modèles produisent des estimations identiques en ce qui concerne la création de commerce. Cependant, à cause des suppositions un peu différentes concernant le degré de la substitutabilité entre les importations des pays préférés et non-préférés, les estimations du détournement de commerce peuvent différer selon le modèle utilisé. Puis ces différences sont examinées en appliquant un modèle empirique. Il est aussi démontré que le détournement de commerce peut être estimé sans savoir explicitement les élasticités de substitution si l’on applique le modèle de Verdoorn.

---

Resumen Estimaciones empiricas alternativas de la creación y desviación del comercio: una comparación del modelo de Baldwin y Murray con el de Verdoorn. - En este trabajo se analizan las propiedades de dos modelos comúnmente utilizados para estimar ex ante la creación y desviación del comercio. Empero, debido a supuestos ligeramente diferentes en relación al grado de sustitutabilidad entre importaciones de países preferidos y no preferidos, las estimaciones de la desviación del comercio pueden diferir dependiendo del modelo utilizado. Estas diferencias son examinadas en un ejemplo empírico. También se muestra que la desviación del comercio puede ser estimada con los supuestos de Verdoorn, mas sin conocimento explícito de la elasticidad de sustitución.

     

Supporting Technologies and Organizational Practices for the Transfer of Knowledge in Virtual Environments

A field study of a global science/technology company provides evidence of the value of both organizational practices and technology tools for supporting knowledge attainment (the combined tacit and explicit knowledge gained in a focal area – in this study we focus on product knowledge attainment) in virtual environments. We present a three-dimensional typology of knowledge management systems. Method of input, form of content, and how the users accrue the benefit of the knowledge help us to argue that organizational practices and technological tools will have independent positive effects on user knowledge attainment. We find attendance at face-to-face community of practice meetings, use of searchable archives, video-on-demand, and full-text search of video-on-demand all positively predict knowledge attainment. We suggest that organizations develop both organizational practices and technical supports for knowledge transfer. An interview with the video-on-demand vendor gives us the context to discuss issues for the support of tacit knowledge in more virtual environments as well as issues of expertise as it relates to support for formal and informal learning.     

Choice in Computer-Mediated Environments

In the last several years, the increased diffusion of computer andtelecommunications technologies in businesses and homes has produced newways for organizations to connect with their customers. These computermediated environments (CMEs) such as the World Wide Web raise new researchquestions. In this paper, we examine the potential research issuesassociated with CMEs in five areas: (1) decision processes, (2) advertisingand communications, (3) brand choice, (4) brand communities, and (5)pricing.     

Market Segmentation Research: Beyond Within and Across Group Differences

Market segmentation research is currently focused too narrowly on the task of segment identification as opposed to its strategic relevance within a firm. In this paper we distinguish an ex ante approach to market segmentation research, which begins with studying the motivating conditions that lead people to the tasks and interests in their lives, from an ex post approach which begins with an individual's reaction to marketplace offerings. We argue that the marketing task of guiding managements to make what people will want to buy will be more successful in light of a deep understanding of behavior in the context of everyday life and work, rather than a detailed understanding of preferences in the marketplace. Directions for future research are discussed.     

Questions for Kaleckians: a response ∗

In the previous article Ian Steedman raises a range of issues in connection with the Kaleckian treatment of prices. In this article, I argue that many of the points raised are misplaced whilst others do make a positive contribution.     

The effects of advertisement picture likeability on information search and brand choice

A considerable amount of advertising research has focused on the effects of affective cues such as likeable people, pictures, or music. The conclusions have been that ads relying on affective cues can influence choice only under limited conditions, when relevant brand information is either unavailable or not useful if present. However, the effects of affective cues on choice may not be as limited as previously thought. When respondents are allowed to explore diagnostic information but must do it sequentially after initial exposure to the ads with pictures varying in likeability, we hypothesize that the positive ad will influence brand choice, and this effect will be at least partially due to the initial effects of the ads on search of this information. Our study manipulated the likeability of pictures in print ads for a ??test brand,?? along with other similarly formatted ads for three other brands. Brand attribute information was not readily available but could be searched and showed clearly that the test brand was only the second-best. Results showed that the ad pictures biased search order in favor of the advertised test brand and increased choice of the second-best test brand when it was advertised with the likeable pictures. Subsequent analysis revealed that search order significantly but not completely mediated the effects of picture on choice. The results suggest that information search can be a useful, sensitive measure of the effects of advertising.     

The Economic Analysis Underlying the 'Third Way'

In this article we unpack the ‘black box’ of carbon offsetting through a critical examination of the technologies and techniques that create carbon credits. Drawing on empirical research of compliance (Clean Development Mechanism) and voluntary carbon offset markets, we highlight the diversity of technologies, techniques and devices involved in carbon offsetting, ranging from refrigerant plants to systems of calculation and audit. We suggest that polarised debates for and against offsetting do not adequately reflect the considerable variations between types of offset project and governance practices in the compliance and voluntary offset markets. Using conceptual insights from governmentality theory and science and technology studies we assess the tensions in making standard, fungible carbon credits. In conclusion, we suggest attention to the technologies and materiality of carbon offsetting allows a fresh perspective on somewhat entrenched debates about the advantages and disadvantages of offsetting.     

Around-the-Clock Performance of Closed-End Funds

Herein, we find that the market price of closed-end fund shares tends to increase (decrease) in anticipation of a rise (fall) in the net asset value (NAV). Similarly, an increase (decrease) in the reported NAV tends to be followed by a rise (fall) in the price of the fund's shares. Interestingly, we also find a powerful negative autocorrelation between closed-end fund shares’ overnight and intraday returns in both univariate and multivariate tests for both the overall sample and a number of subsamples. We believe that this tendency results from the strategies that many specialists employ when they open their assigned shares.     

CONTROL: GETTING IT AND KEEPING IT IN BUSINESS PROCESS OUTSOURCING

Proposals to outsource corporate functions often meet with resistance because of control issues and concerns about proprietary information. But proponents of outsourcing are quick to note that many of these reservations dwell on perceptions and apprehensions, rather than on the track record of outsourced projects. In fact, veterans of successful arrangements observe that outsourcing frees up valuable management time and thus enables an enhanced form of control.
The key is to supplement direct, supervisory control mechanisms like service control agreements and performance tracking with indirect, enabling controls—senior team affiliation, performance visibility, interface management, and employee allegiance—and then lay the groundwork for these enabling controls early in the outsourcing relationship. Rather than getting locked into static controls, forward-looking managers adopt a broad control framework to go beyond achieving the expected improvements and create the potential to add new value. The result is an outsourcing relationship that can accommodate change, move in a new direction, and seize emerging opportunities.