A Map Is Not a Territory—Making Research More Helpful for Sustainable Consumption Policy

The need to make consumption patterns more sustainable is widely acknowledged, yet effective policies for sustainable consumption are lacking. This article examines Nordic policy makers' views on why sustainable consumption research is difficult to apply in policy practice. We draw on the knowledge brokering literature to outline how the challenges of knowledge utilization in policy are connected to knowledge communication practices and to the types and scales of policy problems. Our empirical material is based on in-depth interviews with Nordic civil servants working with sustainable consumption issues. Our findings identify problems in sustainable consumption policy that are well documented in other fields, such as policy makers' lack of time and the inconclusiveness of research findings. However, we also identify more fundamental problems, which relate to administrative fragmentation and to the status of social science in policy making, as well as to the linear model of knowledge use in policy making in which administrators are forced to serve as knowledge brokers between researchers and policy makers. Our research suggests that better forms of knowledge dissemination are not sufficient to overcome these problems. New forms of knowledge co-production are needed, in which researchers, administrators, politicians, and other stakeholders work together to solve real-life problems and build up a shared knowledge community. We conclude by highlighting the implications for researchers aiming to promote change toward more sustainable consumption patterns.     

China＇s Role in Purchasing Chain

In current world market,＂Made-in-China＂often means good price and competitive quality.In terms of China＇s trade pattern,more than half of Chinese exporting products belong to processing trade industry according to the demands and requirements of international orders.On the purchasing chain,China is learning from its international partners.Safety and quality always tops all issues.[第一段]     

Organisational Whistleblowing Policies: Making Employees Responsible or Liable?

This paper explores the possible impact of the recent legal developments on organizational whistleblowing on the autonomy and responsibility of whistleblowers. In the past thirty years numerous pieces of legislation have been passed to offer protection to whistleblowers from retaliation for disclosing organisational wrongdoing. An area that remains uncertain in relation to whistleblowing and its related policies in organisations, is whether these policies actually increase the individualisation of work, allowing employees to behave in accordance with their conscience and in line with societal expectations or whether they are another management tool to control employees and protect organisations from them. The assumptions of whistleblower protection with regard to moral autonomy are examined in order to clarify the purpose of whistleblower protection at work. The two extreme positions in the discourse of whistleblowing are that whistleblowing legislation and policies either aim to enable individual responsibility and moral autonomy at work, or they aim to protect organisations by allowing them to control employees and make them liable for ethics at work.     

Hedging under model misspecification: All risk factors are equal,but some are more equal than others …

It is often difficult to distinguish among different option pricing models that consider stochastic volatility and/or jumps based on a cross‐section of European option prices. This can result in model misspecification. We analyze the hedging error induced by model misspecification and show that it can be economically significant in the cases of a delta hedge, a minimum‐variance hedge, and a delta‐vega hedge. Furthermore, we explain the surprisingly good performance of a simple ad‐hoc Black‐Scholes hedge. We compare realized hedging errors (an incorrect hedge model is applied) and anticipated hedging errors (the hedge model is the true one) and find that there are substantial differences between the two distributions, particularly depending on whether stochastic volatility is included in the hedge model. Therefore, hedging errors can be useful for identifying model misspecification. Furthermore, model risk has severe implications for risk measurement and can lead to a significant misestimation, specifically underestimation, of the risk to which a hedged position is exposed. © 2011 Wiley Periodicals, Inc. Jrl Fut Mark     

WELFARE EFFECTS OF DISTORTIONARY FRINGE BENEFITS TAXATION: THE CASE OF EMPLOYER‐PROVIDED CARS*

In Europe, many employees receive company cars as fringe benefits induced by taxation. We analyze the welfare effects of company car taxation for the Netherlands by estimating to what extent car expenditure and private car travel change when employees receive a company car. Tax treatment of company cars generates an annual welfare loss, ranging from €600 to €780 per company car, mainly due to a shift toward more expensive cars (from €420 to €600), but also due to increased private travel (€180). For the whole of Europe, the annual welfare loss is about €12 billion.     

Exports, economic growth and the consolidation of peace in El Salvador

The pillars of inclusive growth in El Salvador have to be nontraditional export growth, investment, and government determination to reduce income inequality and poverty. This article analyzes the key obstacles to the development of a competitive and dynamic export sector: Dutch Disease driven by aid and remittances, a significant decline in real wages, and lack of productivity growth. Policies can and must focus on productivity growth rather than wage repression, in the pursuit of peace consolidation and long-term competitiveness.