The effects of U.S. quantitative easing on South Africa

This paper investigates the impact of the Federal Reserve’s monetary policy on the economy of South Africa, particularly during the period of quantitative easing and thereafter from 2009 to 2018. A VAR model, including South Africa’s inflation, output, a stock market index, exchange rate, and South Africa’s policy rate is examined to determine the impact of the Federal Reserve’s actions. Our results show that the Federal Reserve’s quantitative easing programs had only slight overall effects on South Africa’s economy. However, the way monetary policy is measured appears to have important effects for studies of international monetary spillovers as the results differ depending on the type of monetary policy measure used.     

An experimental analysis of the bandit problem

Summary.  We investigate, in an experimental setting, the behavior of single decision makers who at discrete time intervals over an “infinite” horizon may choose one action from a set of possible actions where this set is constant over time, i.e. a bandit problem. Two bandit environments are examined, one in which the predicted behavior should always be myopic (the two-armed bandit) and the other in which the predicted behavior should never be myopic (the one-armed bandit). We also investigate the comparative static predictions as the underlying parameters of the bandit environments are changed. The aggregate results show that the behavior in the two bandit environments are quantitatively different and in the direction of the theoretical predictions. Received: October, 27, 1994; revised version February 27, 1996     

Interactive Statistical Analysis of Complex Mantle Flows with the Web

Up to now, all of the figures in mantle convection literature have been presented in a static manner, where the fields at one scale are shown on a printed page . This is no longer possible with the spatial resolution increasing at an ever rising clip and the appearance of the issue of multi-scale structures. Because of the onslaught of data-flooding and the growing complexity of strongly time-varying physical fields from compressible mantle convection, such as the adiabaticity, and other thermo dynamical heating functions, we can no longer afford to display and look at the results in the same static way as in a book. We have developed a new approach for interrogating data coming out from numerical simulations. This is based on an interactive two-dimensional map which is used over the WEB with a client-server paradigm. We have applied this to investigate mantle convection flows in both two-and three-dimensional situations. The distributions of thermal anomalies found are no longer Gaussian but sometimes have long tails, especially near the edges of plume heads. The same is also found for the distribution of mechanical heating, which can be quite skewed. Our experiences with this new interactive mode of data-query have shown both the educational and scientific importance of using the world wide web media to quiz handily the data taken from large-scale numerical simulations.     

Marketing Mechanisms Used for Summer Food Service Programs

ABSTRACT

The aim of this research was to determine the mechanisms/channels used for marketing the Summer Food Service Program (SFSP), a federal program that provides free, nutritious meals to children during the summer months. This study utilized a multiple-site, exploratory case study design of 16 sites from seven states and Washington, DC. Data were gathered using various methods: conducting structured interviews with SFSP administrators, administering a short survey about the SFSP, and researchers’ observations of mealtime and marketing displays. Utilizing the Process Model for Customer Journey and Experience coding framework, we examined 107 marketing elements of SFSP on the basis of type of promotional mix, purchase phases, and interaction of consumer experience touch point types. Findings suggest SFSPs primarily use paid advertising and public relations as preferred marketing mix channels of SFSPs. Furthermore, findings suggest that SFSPs utilize a variety of promotional mix elements in the preconsumption and consumption phases of the customer journey but not in the postconsumption phase. Findings also revealed SFSP operators favor brand-owned and partner-owned customer touch points in the customer journey.     

Data mining in business services

Data mining applies traditional statistical tools as well as artificial intelligence algorithms to the analysis of large datasets. Data mining has proven very effective in many fields, including business. This paper reviews applications of data mining relevant to the service industry, and demonstrates primary business functions and data mining methods. Typical industry data mining process is described, analytic tools are reviewed, and major software tools noted.     

The importance of structure and process to strategy implementation

A study involving over 200 senior managers demonstrates that overall firm performance is strongly influenced by how well a firm's business strategy is matched to its organizational structure and the behavioral norms of its employees. The authors identify a taxonomy comprised of four different combinations of structure/behavior types, which they label as: Management Dominant, Customer-Centric Innovators, Customer-Centric Cost Controllers, and Middle Ground. These alternative structure/behavior types are then matched with specific business strategies (i.e., Prospectors, Analyzers, Low Cost Defenders, Differentiated Defenders) in order to identify which combination(s) of structures and behaviors best serve to facilitate the process of implementing a specific strategy.     

The Effects of UK Pharmaceutical Policy on Government Drug Expenditure: Cost Control and Incentives for R&D

This paper investigates the impact of UK pharmaceutical policy on the level of NHS pharmaceutical expenditure. UK pharmaceutical policy is one which has managed to control costs, but at the same time, has not sacrificed the rewards for conducting long-term R&D in the UK. The analysis provides evidence that the government policies which encourage long-term R&D and the development of new drugs actually lead to lower overall pharmaceutical expenditure by the NHS. The reason for this is attributed to the savings associated with the replacement of new drugs for other less effective drugs. Additional results show that the UK receives positive spillovers from the R&D conducted by US firms and this R&D has a cost reducing impact on NHS pharmaceutical expenditure.     

Factors influencing the relative importance of marketing strategy creativity and marketing strategy implementation effectiveness

It seems logical that performance is maximized when a business produces a creative marketing strategy and achieves marketing strategy implementation effectiveness. However, cultural tensions and resource competition may make it difficult, or impossible, to achieve both. Contingency theory suggests that market and/or firm level influences may exist that make one or the other more important. Thus, it is important for researchers to investigate those conditions so that we can provide managers with guidance regarding where to allocate their resources. The study reported in this article assesses the impact that environmental conditions and business unit strategy have on the relative importance of marketing strategy creativity and marketing strategy implementation effectiveness. We discuss implications for managers and scholars.     

Mitigating the effects of distance on collaborative intellectual work

This paper reviews systematic research on collaborative work involving synchronous, or same-time, interactions, which comprise a major challenge for projects in which a distance of 30 metres or more separates participants. It identifies the specific advantages of close proximity, or 'radical co-location', in which participants share a common room or workspace. Reference to these advantages is used to assess the shortcomings of co-operative work support techniques including software and video conferencing. A variety of contexts in which distant collaboration is undertaken are examined in order to identify instances of success, as well as a range of specific problems related to cultural and time zone differences and the limitations of available of information and communication technologies for interpersonal communication. Prospects for future technologies to transcend these limitations are discussed.