Supplier competence alignment: Cases from the buyer perspective in the Brazilian market

The research presented here has a double purpose. On the one hand to better define and frame the field of inter-organizational transfer of competences, and on the other to suggest that the competence-based marketing view can well stem from marketing initiatives targeting not just customers, or customers' customers, but also other actors in the market, in this instance suppliers.This research focus has led us to select a precise area of study so as to obtain situations in which the probability of the existence of transfer of competence is high. We chose to centre the study on transfer of competences in the area of logistics between MNCs and their local suppliers in Brazil.Research findings lead to proposals regarding correlations between types of competences transferred, transfer mechanisms and strategic objectives of the transfer.     

The EU’s Medium-term Financial Perspective and Turkey’s Potential Slice of the Cake

The issue of Turkey’s membership in the EU remains controversial, and the arguments for and against are not only economic. Nevertheless, the potential economic impact of Turkish membership does play an important role. How much financial support is Turkey presently receiving under existing pre-accession programmes and what changes could be expected in the case of full membership?     

Strategic trade policy with endogenous choice of quality and asymmetric costs

This paper examines strategic trade and joint welfare maximizing incentives towards investment in the quality of exports by an LDC and a developed country. Firms first compete in qualities and then export to an imperfectly competitive, third country market. Under Bertrand competition, unilateral policy involves an investment subsidy by the low-quality LDC and an investment tax by the developed country, whereas jointly optimal policy calls for the reverse so as to reduce price competition by increasing product differentiation. Under Cournot competition, unilateral policy is also reversed from the Bertrand outcome, but jointly optimal policy involves a tax in both countries.     

电视广告到达的计划与测量

媒体计划机构运用电视收视率来确定该购买哪种插播广告,从而使广告能够影响到x%的群体。这就是所谓的媒体“到达”,又称之为某一时段或某个电视节目的广告能见机率(OTS)。这一方法是媒体计划者用于预测某广告影响程度的最佳方法,但这并不一定意味着广告能够对观众产生影响,因为     

Fundamental and technical analysis: substitutes or complements?

Although the fundamental and technical analysis literatures invest considerable effort in assessing their respective ability to explain share prices, they invariably do so without reference to each other. In this context, we propose an equity valuation model integrating both fundamental and technical analysis and, in doing so, recognize their potential as complements rather than as substitutes. Testing confirms the complementary nature of fundamental and technical analysis by showing that, although each performs well in isolation, models integrating both have superior explanatory power. While our findings relate to the valuation of shares, they also have implications for other valuation exercises.     

Central bank reserve management: Aggregate targets and interest payments on reserves

Tindall and Spencer [1997] presented a dynamic stochastic theory of borrowed reserves that explained the observed nonlinear relationship between borrowing and the spread between the federal funds rate and the discount rate. It showed that borrowed reserves are a function of deposit variation. This paper extends that research, providing a general dynamic model of all key bank reserve aggregates. Nearly all reserve aggregates, which can be used as operating targets by the Federal Reserve, are subject to the influence of deposit variation and are nonlinearly related to the spread between the federal funds rate and the discount rate, complicating their use as targets. Additionally, it is found that the Federal Reserve's proposal to pay interest on bank reserves could generate substantial distortions in reserve aggregate behavior where interest is paid on excess reserves as well as required reserves, effectively resulting in potentially large discount-window policing problems.     

Modelling Category Inflation with Multiple Inflation Processes: Estimation,Specification and Testing1

Zero‐inflated ordered probit (ZIOP) and middle‐inflated ordered probit (MIOP) models are finding increasing favour in the discrete choice literature. We propose generalizations to these models – which collapse to their ZIOP/MIOP counterparts under a set of simple parameter restrictions – with respect to the inflation process. These generalizations form the basis of a new specification test of the inflation process in ZIOP and MIOP models. Support for our generalization framework is principally demonstrated by revisiting a key ZIOP application from the economics literature, and reinforced by the reassessment of an important MIOP application from political science. Our specification test supports the generalized models over the original ZIOP/MIOP ones, suggesting an important role for it in modelling zero‐ and middle‐inflation processes.     

Crime Watch: Hurricanes and Illegal Activities

We investigate the relationship between hurricane strikes and crime for Jamaica. To this end, we construct hurricane damages and daily recorded criminal activity. Hurricanes are found to significantly increase crime by 35%, where the impact is stronger for more damaging storms, but this only lasts for the duration of the storm. Decomposing crime into its various subtypes, one finds that while aggravated assault, break‐ins, and shooting increase during a hurricane, murders, rapes, and robberies actually decline. The greatest increase is with shootings, whereas the greatest decline is with rape. Crucially, the impact of crime depends on the existence of a storm warning. Our results also show that high frequency data more accurately estimate the impact of hurricanes on crime.