Envisioning a future purchase: The effects of consumption imagery perspective and identity on consumer motivation

When people visualize a potential purchase, they can adopt either a first‐person or a third‐person perspective. The present research examines whether the perspective adopted would affect consumer motivation, and whether this effect would depend on the extent to which the imagined purchase is connected to identity. In four studies, third‐person imagery resulted in stronger consumer motivation than first‐person imagery, but only for purchases that were tied closely to identity. Furthermore, the results suggest that the motivational effect of third‐person imagery is not based on concerns about others’ views of the self, but rather on the extent to which one feels that the imagined behavior is tied closely to identity.     

Improved output gaps with financial cycle information? An application to G7 countries’ new Keynesian Phillips curves

In search for more robust cyclical imbalance indicators, recent research has highlighted the interactions between business and financial cycles. Output gap formulations increasingly take imbalances of the financial cycle into account, postulating finance-neutral output gaps (FNGAPs). To test their increased explanatory power in econometric models, we compare FNGAPs to univariate output gaps in their ability to explain inflation dynamics in hybrid new Keynesian Phillips curves. Results indicate FNGAPs to exercise (dis)inflationary pressure, but not to outperform traditional output gaps. Nonetheless, they have become increasingly significant in the course of the 2007/08 Global Financial Crisis.     

Investment Choice with Polluted Capital

This paper develops a two-sector overlapping generations model in which one sector produces an externality on the environmental quality and the other has no effect. We assume that environmental quality degradation results from production activity of one sector. Then, we characterise the dynamical system globally and establish sufficient conditions for the global uniqueness of a perfect-foresight equilibrium path in the case of a Cobb-Douglas production function and a CES utility function. We show that the existence and the stability of the steady state depend on substitution and income effect and on the degree of pollution.     

PRODUCTIVE GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH

Abstract.  We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. We show that an understanding of the core results and the ensuing contributions can be gained from the study of their respective Euler equations. We argue that the existing literature incorporates many relevant aspects; however, policy recommendations tend to hinge on several knife-edge assumptions. Therefore, future research ought to focus more on idea-based endogenous growth models to check the robustness of policy recommendations. Moreover, the inclusion of hitherto unexplored types of government expenditure, e.g. on the 'rule of law', would be desirable.     

Corporate Argumentation for Acceptability: Reflections of Environmental Values and Stakeholder Relations in Corporate Environmental Statements

This article studies argumentation for acceptability of corporate environmental actions in corporate environmental statements, with emphasis on stakeholder relations and environmental values. Stakeholder theory is commonly taken as the basis for corporate environmental management, and rhetoric typical of the stakeholder approach dominates the field. Although environmental issues are strongly charged with values, the dominant stakeholder approach does not stress the value dimension. The data of the study consists of environmental statements by Finnish forerunning business corporations in the forefront of corporate environmental responsibility. The results of the study indicate that the statements argue for the acceptability of corporate environmental actions through three power-related rhetorical forms that are competing ways to produce acceptability in the data: dominance, subordination and equality, and joint action. Each rhetorical form describes a power-based relationship between stakeholders and the corporation and leans on a specific value type producing legitimacy for that rhetoric form.     

Empirical evidence on the global minimum tax: what is a critical mass and how large is the substance-based income exclusion?

This paper presents empirical evidence on the proposed global minimum tax (GMT) of the OECD's Pillar 2. First, it addresses how many, and which, countries or country groups can be seen as constituting a ‘critical mass’ for its successful implementation; given such a critical mass, remaining jurisdictions worldwide will have an incentive to implement the GMT as well. Second, it assesses the generosity of the substance-based income exclusion (SBIE), which is informative for the revenue collected under the GMT.     

Immigration and Access to Fringe Benefits: Evidence from the Tobacco Use Supplements

We examine the extent to which assimilation and residential ethnic enclaves are associated with immigrant access to smoking‐related fringe benefits. In particular, we consider access to office smoking bans and employer‐sponsored smoking cessation programs. We first document differences in access to these benefits between immigrant and native workers. Second, we show that assimilation is positively associated with smoking‐related fringe benefit access while enclave residence does not predict access. These findings broaden our understanding of immigrant employment.     

Evaluating cultural industries: investigating visitors' satisfaction in theatres

This study investigates visitors' satisfaction with their subjective experience in theatres. Reconciling research on theatre marketing and theatre studies, a model of visitors' satisfaction in theatre is suggested and an instrument to capture visitors' satisfaction and its determinants is developed. Results from a field study (n?=?158) on three performances of ‘Twelfth Night or What You Will’ (Shakespeare) in a German community theatre revealed spectators' perception of stage direction and their emotional response as significant determinants. Comparing experienced to inexperienced visitors' judgements, no differences were found. Conclusions for theatre marketing are drawn.