Wealth inequality and credit markets: evidence from three industrialized countries

Economic theory predicts that changes in the distribution of wealth in an economy affect real interest rates if capital markets are imperfect. We investigate this link for the US, the UK, and Sweden, using multivariate time series analysis that explicitly allows for feedback effects between wealth inequality and real interest rates. Our estimates yield that, over the course of the twentieth century, decreases in wealth inequality led to significant declines in real interest rates. Our results therefore point to the importance of capital market imperfections that arise from moral hazard. They put to question the empirical relevance of a negative interest rate effect of inequality that may arise in variants of these models with high inequality, heterogeneous agents or adverse selection.     

Shifting Paradigms in Carbon Pricing

The first pillar of the old paradigm of carbon pricing is the assumption that an emissions trading scheme is the most cost-efficient way to achieve a certain emission reduction target. However, it has become obvious that the old paradigm is unable to solve a number of challenges, e.g. market participants’ myopia.     

On the open design of tangible goods

Open source software development has received considerable scholarly attention, much of which is based on the presumption that the 'open source model' holds some lessons of broader applicability. Nonetheless, our knowledge of its deployment outside the software industry is very limited. This paper focuses on the open source development of tangible objects, the so-called open design. We propose a generalised definition of open source development. Drawing on 27 exploratory interviews and six comparative case studies selected from a pool of more than 75 projects, we analyse the workings of open design. The analysis reveals that open design is already being implemented in a substantial variety of projects with different organisational and institutional structures.     

Attribution theories in Human Resource Management research: a review and research agenda

Abstract

There is no doubt that attribution theories have made their mark in social psychology and other related disciplines, but their application and extension to the field of HRs is in its infancy. Indeed, HR scholars have recently realized that understanding the process by which individuals explain the causes of behaviors and events provides insight into a host of HR-related issues. In our review of 65 papers, we identified three research streams with different foci – those that focused on HR system strength, on attributions that influence judgements and behaviors within functional HRM domains, and on the attributions employees make of the intent of HR practices. Notably, despite shared foundations, these three streams of literature rarely overlap. We summarize and provide theoretical and empirical directions for future research within each research area to help steer courses in these areas. Importantly, we also draw connections among the three streams to inspire future research to stretch the bounds of current theorizing on attributions in the field of HR.     

Medien- und Kommunikationswissenschaft als Hauptfach: Die Göttinger Universität stärkt mit dem neu gegründeten Zentrum für interdisziplinäre Medienwissenschaft (ZIM) ihre Medienkompetenz

Ohne Zusammenfassung     

Mangelernährung einschätzen

Ursachen und Diagnostik-Pflegekr?fte sollten alle Faktoren kennen, die eine Mangelern?hrung begünstigen. Denn gerade bei Patienten mit chronischen Wunden gilt es, den Ern?hrungszustand einzusch?tzen und eine eventuelle Malnutrition zu diagnostizieren.     

The macroeconomic determinants of private equity investment: a European comparison

A strong private equity (PE) market is a cornerstone for commercialization and innovation in modern economies. However, substantial differences exist in the relative amounts raised and invested in PE across European countries. We investigate the macroeconomic determinants of PE investment in Europe, focusing on the comparison between Central and Eastern European (CEE) and Western European countries. Our estimations are based on a data set running from 2001 to 2011 that covers 16 countries. Applying robust estimation techniques, we identify a ‘robust’ set of determinants of PE activity in both regions. We find similarities as well as differences in the driving forces of PE investments in Western European and CEE countries. Our results suggest that economic activity, the inflation rate, equity market capitalization, unit labour costs, the unemployment rate as well the the institutional and legal environment are significant determinants of PE activity.     

Material Distortion of Economic Behaviour and Everyday Decision Quality

Misleading information and unfair commercial practices have to be viewed against the background of what consumers otherwise do, i.e., what their purchase decisions look like when no misleading information or no unfair commercial practices are in place. This article provides some of this background by studying how consumers sample information when making an in-store purchase decision. This was done by an eye-tracking study which reveals to what extent consumers succeed in purchasing the products that best meet their purchase intentions when only a representative amount of misleading information is present. The study shows that decisions were suboptimal in relation to what the consumers claimed they wanted to purchase. Only in one product category did consumers in this study actually look at products that were slightly better than average, and as a result, they mainly selected products that were just as often poor as good. If the proportion of bad purchase decisions based on misleading information is small enough, perhaps it might be better to direct the authors’ attention to other ways of improving the decision environments that consumers encounter. In addition, the eye-tracking study provides some insight into how consumers sample information when making an in-store purchase decision. The present data show that consumers invested on average of less than 1 s to look at products.