The Role of Spiritual Well-Being and Materialism in Determining Consumers’ Ethical Beliefs: An Empirical Study with Australian Consumers

A survey was conducted to investigate the relationship of Australian consumers’ lived (experienced) spiritual well-being and materialism with the various dimensions of consumer ethics. Spiritual well-being is composed of four domains—personal, communal, transcendental and environmental well-being. All four domains were examined in relation to the various dimensions of consumers’ ethical beliefs (active/illegal dimension, passive dimension, active/legal dimension, ‘no harm, no foul’ dimension and ‘doing good’/recycling dimension). The results indicated that lived communal well-being was negatively related to perceptions of the active/illegal dimension and the passive dimension and was positively related to perceptions of the ‘no harm, no foul’ dimension and the ‘doing good’/recycling dimension. Lived personal well-being was negatively related to perceptions of the active/illegal dimension and was positively related to perceptions of the ‘no harm, no foul’ dimension and the ‘doing good’/recycling dimension. Lived transcendental well-being was negatively related to perceptions of the passive dimension, the active/legal dimension and the ‘no harm, no foul’ dimension. Lived environmental well-being was negatively related to perceptions of the active/legal dimension and the ‘no harm, no foul’ dimension. The findings also indicated that materialism was positively associated with perceptions of actively benefiting from illegal actions, passively benefiting at the expense of the seller, actively benefiting from questionable but legal actions and benefiting from ‘no harm, no foul’ actions. Public policy implications of the findings and opportunities for future research are discussed.     

Urban supply–demand interrelations in business services

Business services are mainly concentrated in major urban economic areas, and affect the way in which supply and demand interact at urban level. Firstly, this article explains the corresponding impact for location and use, given a set of possible explanatory factors. Secondly, we test hypotheses within the Madrid region: a specific econometric model (a 3-steps Probit) tested upon an ad hoc survey covering 32 services in 14 cities. The results confirm the expected limited impact of local supply on demand behaviour, but show differences depending on the type of services.     

Growth and Productive Dynamism of Business Services: EU-15, Spain and the Region of Madrid

This study evaluates the structure and dynamism of business services in the Region of Madrid compared to the EU-15 countries. It focuses on the comparative analysis of productivity and its components, as well as a specific geographical and locational study of these services in the Region of Madrid. The sector productivity structure of countries and regions is similar. From this, it may be deduced that productivity units of the different countries, within the same branch, use fairly similar productivity methods and technologies. Through the analysis of the relative size of the different branches rendering business services, important discrepancies regarding processes of economic organisation between the regions studied may be deduced.     

Differences in growth with international capital markets and financial innovation

This paper presents a model in which technological progress affects the productivity of the financial sector. When technological progress moves quicky, the financial intermediation costs are low, which increases the incentives to invest in new technology. This feedback process involves two types of long-run equilibria: one with low financial intermediation costs and high growth, and the other with high financial intermediation costs and low growth. These divergences in growth rates among countries hold even in the presence of international capital markets with free capital mobility, a very unusual result in the endogenous growth literature.     

Climate change and its marginalizing effect on agriculture

The agriculture of some areas considered marginal in the EU agricultural context is being questioned due to its low productivity and growing dependence on economic aid programs Common Agricultural Policy (CAP). This study shows that climate change increases these areas marginalisation of since worsens crop growth conditions. The influence of climate change on the agricultural sector is analyzed using the Multicriteria Decision Paradigm with information provided by the Erosion-Productivity Impact Calculator (EPIC) and a General Circulation Model (GCM) as inputs for multicriteria mathematical programming models. The results obtained show climate change effects on the crop portfolio. Further results suggest that climate change effects are not only economics and environmental, reducing the suitable area for crops, but also social as it causes loss of jobs in the agricultural sector.     

Exchange Rates,Employment and Labour Market Rigidity

In this paper, we study the effect of labour market rigidity on the impact of exchange rate shocks on employment. We use a panel dataset comprising 22 manufacturing sectors across 23 OECD countries. In our econometric model, the impact of exchange rate fluctuations on sectoral employment is mediated by the degree of openness and by a measure of labour market rigidity: the OECD's employment protection legislation (EPL) index. Our results suggest that greater labour market rigidity reduces the impact of exchange rate shocks on employment. This effect is statistically significant for low‐technology sectors.     

Environmental Mutual Funds: Financial Performance and Managerial Abilities

For 15 years, former assistant football coach Jerry Sandusky used his Penn State University perquisites to lure young and fatherless boys by offering them special access to one of the most revered football programs in the country. He repeatedly used the football locker room as a space to groom, molest, and rape his victims. In February 2001, an eye-witness alerted Penn State’s top leaders that Sandusky was caught sexually assaulting a young boy in the showers. Instead of taking swift action against Sandusky, leaders began a cover-up that is considered one of the worst scandals in sports history. While public outcry has focused on the leaders’ silence, we focus on the talk that occurred within the organization by key personnel. Drawing from court documents and internal investigative reports, we examine two euphemism clusters that unfolded in the scandal. The first cluster comprises reporting euphemisms, in which personnel used coded language to report the assault up the chain of command. The second cluster comprises responding euphemisms, in which Penn State’s top leaders relied on an innocuous, but patently false, interpretation of earlier euphemisms as a decision-making framework to chart their course of (in)action. We use this case to demonstrate how euphemistic language impairs ethical decision-making, particularly by framing meaning and visibility of acts, encouraging mindless processing of moral considerations, and providing a shield against psychological and material consequences. Further, we argue that euphemism may serve as a disguised retort to critical upward communication in organizations.     

Classical and Impulse Stochastic Control of the Exchange Rate Using Interest Rates and Reserves

We consider the problem of a Central Bank that wants the exchange rate to be as close as possible to a given target, and in order to do that uses both the interest rate level and interventions in the foreign exchange market. We model this as a mixed classical‐impulse stochastic control problem, and provide for the first time a solution to that kind of problem. We give examples of solutions that allow us to perform an interesting economic analysis of the optimal strategy of the Central Bank.     

Inflation,growth, and distribution: The Brazilian economy after the post war

Abstract

Following Marglin and Bhaduri (1990 Marglin, S.A., and Bhaduri, A. “Profit Squeeze and Keynesian Theory.” In S.A. Marglin and J. Schor (eds.), The Golden Age of Capitalism. Reinterpreting the Postwar Experience. Oxford: Clarendon, 1990. [Google Scholar]), the purpose of this paper is to investigate empirically the interaction between income distribution and growth of aggregate demand during the 1951–89 period in Brazil. Applying Hein and Vogel’s (2008) methodology we conclude that the Brazilian economy showed a profit-led demand regime. In a context of high inflation, high concentration of markets, and wage control, retained profits were the main source to finance new capital. In this sense, we found a large sensitivity of investment relative to the wage share, a result that is compatible with a consumption pattern based on high income, which supported the growth trend with low wages observed during the period.