Consumers’ brand heritage experience: between acceptance and resistance

ABSTRACT

The literature dedicated to heritage experience and brand heritage defends the idea that it is a source of significant value creation for consumers and brands. By contrast, the aim of this article is to propose a more complete view of the consequences of the heritage strategy for brands and consumers by exploring how consumers perceive a brand heritage experience and by identifying potential resistances that may emerge during their visits. In consequence, this research examines the features of a brand heritage experience through extended case studies in two brand museums with narratives of 47 visitors. By unpacking a brand heritage experience, the study highlights its acceptance by a majority of visitors as a real heritage experience since they give scientific, authentic and aesthetic values to the industrial and commercial features of the brand. However, some visitors do not accept – partially or totally – the brand as part of the heritage corpus insofar as they exhibit scepticism or even reject the experience.     

Keynesian and Austrian Perspectives on Crisis, Shock Adjustment, Exchange Rate Regime and (Long-Term) Growth

The 2010/11 European debt crisis has revived the discussion concerning the optimal adjustment strategy in the face of asymmetric shocks. This paper approaches the question from a theoretical perspective by confronting exchange rate based adjustment with crisis adjustment via price and wage cuts. Econometric estimations yield a negative impact of exchange rate flexibility/volatility on growth, which is found to be particularly strong for countries with asymmetric business cycles and during recessions. Price flexibility is found to have a positive impact on growth. Based on these findings we support a further enlargement of the European Monetary Union and recommend more exchange rate stability for the rest of the world.     

Breaking up a customs union: The case of the Austro-Hungarian Empire in 1919

Breaking Up a Customs Union: The Case of the Austro-Hungarian Empire in 1919. — This study has used new estimates of the gravity model to analyze the effects on European trade patterns in the mid-1920s of the break-up of the Austro-Hungarian Empire and its customs union after World War I. The gravity equation has been found to explain 70 percent of the variance of the trade flows of the principal trading nations in 1924–26. Moreover, the ties between the former members of the Austro-Hungarian Empire remained stronger than any other commercial relationship in Europe. They were second only in intensity — given economic and demographic factors — to those of the British Empire.     

Entrepreneurship,economic development,and institutional environment: evidence from OECD countries

The purpose of this article is to establish a typology of entrepreneurship for OECD countries over the 1999–2012 period. Our aim is to draw a distinction between managerial and entrepreneurial economies, to identify groups of countries with similar economic and entrepreneurial activity variables, and to determine the economic and institutional drivers of entrepreneurial activities in each group. We show that the level of development, sectoral specialization, and institutional variables related to entrepreneurship, functioning of the labor market, and openness of the country are decisive to understand differences in entrepreneurship activity across countries. Results show that the pre-crisis period, from 1999 to 2008, is a period of growth favorable to entrepreneurship. The financial crisis involved a break in entrepreneurial dynamism, with agricultural economies withstanding the financial crisis better. The 2010–2012 period of recovery is a period of a sharp slowdown in entrepreneurial activity, during which the countries that are less dependent on the financial sector proved to be the most resilient in terms of entrepreneurial activity. Nevertheless, it is the advanced knowledge economies with developed financial markets, fewer institutional regulatory constraints, and greater scope for qualitative entrepreneurship that show lower unemployment rates. These findings have important implications for the implementation of public policy in order to promote entrepreneurial activity and reduce unemployment.     

The effect of ECB monetary policies on interest rates and volumes

This article assesses the transmission of ECB monetary policies, conventional and unconventional, to both interest rates and lending volumes or bond issuance for three types of different economic agents through five different markets: sovereign bonds at 6-month, 5-year and 10-year horizons, loans to nonfinancial corporations and housing loans to households, during the financial crisis, and for the four largest economies of the euro area. We look at three different unconventional tools: excess liquidity, longer-term refinancing operations and securities held for monetary policy purposes following the decomposition of the ECB’s Weekly Financial Statements. We first identify series of ECB policy shocks at the euro area aggregate level by removing the systematic component of each series and controlling for announcement effects. We second include these exogenous shocks in country-specific structural VAR, in which we control for credit demand. The main result is that only the pass-through from the ECB rate to interest rates has been effective. Unconventional policies have had uneven effects and primarily on interest rates.     

Russia's accession to the WTO: the potential for trade increase

This paper investigates the impact of institutions on trade and estimates the potential for trade increase between the Commonwealth of Independent States (CIS) and the European Union (EU). The latter is computed from a gravity equation using the procedure introduced by Hausman and Taylor [1981. Panel Data and Unobservable Individual Effects. Econometrica 49 (6) 1377–1398]. We find that CIS trade is still characterized by a large trade diversion effect, which implies that trade with non-CIS countries could increase considerably in the long run. Another source of deepening the level of the European trade integration comes from the convergence of institutions towards the EU standards in light of Russia's application to join the WTO. Journal of Comparative Economics 32 (4) (2004) 680–699.     

Inter- and intra-industry linkages as a determinant of FDI in Central and Eastern Europe

This paper uses an unpublished dataset on disaggregated foreign direct investment (FDI) in Central and Eastern European countries (CEECs), and is rooted in new economic geography literature. A 10% increase in access to suppliers based in the FDI recipient country or access to the EU15 market for intermediate goods increases FDI by about 2% in Central European countries and by 1% in Eastern European countries. We argue that Central (core) European countries specialise in upstream industries and re-export goods toward FDI-origin countries, while Eastern (periphery) European countries are also involved in this production chain, but to a lesser extent.     

Food costs for the current and recommended diet of German infants,children and adolescents

Abstract Higher food costs of a recommended diet may be a barrier to the improvement of unhealthy dietary habits. For the assessment of food costs for children, age-specific dietary intakes as well as average food prices must be known. This study is based on the measured food intake from a total of 1668 3-day weighed diet records of children aged from 5 months to 18 years and on recommended dietary intakes for these age groups. Based on the food costs related to the energy intake (Deutschmarks per megajoule; DM per MJ), the recommended diet using common food products does not incur higher costs than the current diet in all age groups. For infants, a diet using commercial infant food conforming to the restrictive German pesticide regulations incurs 50–150% higher food costs than the use of home-made meals. For children and adolescents, the nutritionally inferior quality of the current diet can be improved by a price-balanced interchange of foods, mainly by favouring plant foods instead of meat and confectionery.     

Arab spring protests and women's labor market outcomes: Evidence from the Egyptian revolution

We analyze the effects of the 2011 Egyptian protests on the relative labor market conditions of women using panel data from the Egypt Labor Market Panel Survey (ELMPS). Using unique information from the Statistical Database of the Egyptian Revolution, we geocode each “martyr”, i.e. demonstrators who died during the protests, based on the location of the political incident. We construct our measure of the intensity of the protests – the district-level number of “martyrs” – and rely on a Difference-in-Differences approach. We find that the 2011 protests have reduced intra-household differences in labor force participation by increasing women's employment and unemployment relative to men. Women's employment relative to men increased in both the private and informal sectors. Our estimates suggest how economic uncertainty such as the one associated to the recent protests may undermine the importance of cultural factors and attitudes towards female work. We link these findings to the literature showing how a relevant shock to the labor division between women and men may have long run consequences on the role of women in society.     

Unintentional child home injury incidence and patterns in six countries in Europe

This study investigates the incidence and patterns of child home injuries in six European Union countries. Emergency department and inpatient injury data on injuries to children aged 0-18 years in the home (n = 88,567) for the years 2003-2004 were extracted from the European Injury Database in Austria, Denmark, France, Netherlands, Portugal and Sweden. The incidence of child home injuries was 44.9/1000 inhabitants Six age-dependent injury patterns were identified using cluster analysis: 1) open wound head injuries; 2) hospital admissions for bruises, contusions, abrasions; 3) falls on stairs indoors; 4) fractures and sprains of the upper extremities; 5) crush/cut/piercing of the fingers; 6) miscellaneous injuries. Child home injuries are a considerable public health problem, particularly in the ages 0 to 4 years. The findings are useful for injury surveillance at the European level yet do not allow for designing testable countermeasures for prevention within home safety initiatives.