Creating a healthy working environment with leadership: the concept of health-promoting leadership

In this paper, a concept of health-promoting leadership is presented that focuses on the interaction between working environment and leadership behavior. Seven key aspects define health-promoting leadership: health awareness, low workload, control, reward, community, fairness, and values. The self-assessment version of the questionnaire was used in this study for the first time. Analyzing the data of 299 leaders, the results showed satisfactory reliability and validity coefficients for all dimensions. Structural equation modeling indicates that all dimensions can be assigned on a main factor of health-promoting leadership. The questionnaire offers two main advantages: first, it is possible to measure health-promoting behavior strategies of leaders and thus show their leadership potential. Second, the instrument allows analyzing critical aspects in the working environment and further helps establish basic conditions in the workplace, where a health-promoting workplace can be created.     

Do traders learn to select efficient market institutions?

Experimental Economics - When alternative market institutions are available, traders have to decide both where and how much to trade. We conducted an experiment where traders decided first whether...     

What really matters: Discounting, technological change and sustainable climate

This paper discusses the interplay between the choice of the discount rate, greenhouse gas mitigation and endogenous technological change. Neglecting the issue of uncertainty it is shown that the Green Golden Rule stock of atmospheric carbon is uniquely determined, but is not affected by technological change. More generally it is shown analytically within the framework of a reduced model of integrated assessment that the optimal stationary stocks of atmospheric carbon depend on the choice of the discount rate, but are independent of the stock of technological knowledge. These results are then reinforced numerically in a fully specified integrated assessment analysis.     

R&D COOPERATION WITH UNIT-ELASTIC DEMAND

The present paper shows that R&D cooperation leads to the monopoly outcome in terms of price and quantity if demand is unit-elastic. If the demand function exhibits an upper bound for the willingness to pay, R&D cooperation is inferior to a scenario in which firms cooperate both in their R&D and their output decision.     

Anticipated growth and business cycles in matching models

In a business cycle model that incorporates a standard matching framework, employment increases in response to news shocks, even though the wealth effect associated with the increase in expected productivity reduces labor force participation. The reason is that the matching friction induces entrepreneurs to increase investment in new projects and vacancies early. If there is underinvestment in new projects in the competitive equilibrium, then the efficiency gains associated with an increase in employment make it possible that consumption, employment, output, as well as the investment in new and existing projects jointly increase long before the actual increase in productivity materializes. If there is no underinvestment, then investment in existing projects decreases, but total investment, consumption, employment, and output still jointly increase.     

Modeling coordinated foreign exchange market interventions: The case of the Japanese and U.S. interventions in the 1990s

During the past thirty years, central banks often intervened in foreign exchange markets. Sometimes they carried out foreign exchange market interventions on a unilateral basis. However, central banks often coordinated their foreign exchange market interventions. We develop a quantitative reaction function model that renders it possible to study the factors that made central banks switch from unilateral to coordinated interventions. We apply our model to the intervention policies of the Japanese monetary authorities and the U.S. Federal Reserve in the yen/U.S. dollar market during the period 1991–2001. To this end, we use recently released official data on the foreign exchange market interventions of the Japanese monetary authorities. JEL no. F31, F33, G14, G15     

Institut für Kommunikationswissenschaft in Jena gegründet

Ohne Zusammenfassung     

Trends in world trade

The current problems of international trade can certainly not be solved by resorting to the arsenal of national trade policies. World-wide economic losses would be the inevitable result. Therefore the first set of tripartite talks between the “major trading powers”, the USA, the EC and Japan, scheduled for October this year and dealing with mutual trade problems, will be a step in the right direction providing that these talks do not result in a defensive alliance against the trading interests of the developing countries.