The comparative performance of UK manufacturing in perspective

The view that the productivity performance in UK manufacturing compares unfavourably with that in other European countries is ill-founded. The important conclusion from this analysis is that the fundamental problem in UK manufacturing has been the low level of investment. This would seem to provide the major part of the explanation for the „poor“ comparative performance of UK manufacturing when measured in terms of both labour productivity growth and output growth.

     

Teamworking: Redesigning the Organization for Manufacturing Improvements

This paper argues that our understanding of the different forms of teamworking in manufacturing is aided by placing teamworking within an organizational and a strategic context. The argument is developed firstly by considering changes in the manufacturing environment which have resulted in the need to overcome the legacy of traditional organization and move to contemporary forms emphasizing quality and flexibility. Secondly, there follows a discussion of the role of teamworking in the current literature, particularly that focussing on 'new wave' manufacturing. Thirdly, extracts from one of our fourteen in-depth case studies from field work are presented as examples. This is of a car assembly plant, which used teamworking as a vehicle for major organizational change. Data analysis used Hinings and Greenwood's (H.R. Hinings & R. Greenwood, Understanding Organisational Design (Oxford, Blackwell, 1989)) theoretical framework, arguing the relevance of that model to aid our understanding of teamworking, both in terms of utilizing an organizational perspective and of recognizing and defining different team archetypes. Finally, the article concludes by summarizing the main findings of the research so far, emphasizing the benefits of taking a strategic approach to teamworking.     

Determinants of internal migration in Israel: expected returns and risks

A multinomial logit model of place-to-place migration focusing on economic, geographic and demographic factors is applied to empirical data on inter-regional migration in Israel in 1980. It explains 75% of the (cross-sectional) variance in the data. The results presented in this paper depart from previous empirical work due to its industrialized context and its focus on risk aversion as a determinant of the migration decision. The results support the Harris–Todaro (1970) hypothesis, and indicate that regional similarities in the structure of industrial employment promote migration.     

Hierarchical Bayesian Whittaker Graduation

Abstract

The Whittaker method of graduation has been known and used for a long time and has remained popular due to its possession of a number of ideal properties. They include being nonparametric and having an easy to understand foundation. The latter means that it makes sense and thus the user of the method has a good idea of what it can and cannot do. As well, there is a statistical derivation available that uses Bayesian notions. A problem with the derivation is that it is more intuitive than precise and as such does not provide a useful frame of reference for the graduator. Regardless of the point of view, the graduation cannot be completed until the smoothing parameter is selected and this has always relied on the judgment of the analyst.

In this paper, three tasks will be undertaken. The first is to replace the ad-hoc Bayesian derivation of the method with a formal Bayesian specification. The second is to show that with this specification it is possible to complete the graduation without making an arbitrary selection of the smoothing parameter. The third is to provide a Monte Carlo Bayesian approach for the incorporation of constraints in the graduated values. The ideas will be illustrated with a numerical example.     

Do the GSEs expand the supply of mortgage credit? New evidence of crowd out in the secondary mortgage market

The dramatic government takeover of Fannie Mae and Freddie Mac in September, 2008 was motivated in part by a desire to ensure a continued flow of credit to the mortgage market. This study examines a closely related issue: the extent to which GSE activity crowds out mortgage purchases by private secondary market intermediaries. Evidence of substantial crowd out suggests that government support for the GSEs may be less warranted, whereas the absence of crowd out implies that GSE loan purchases enhance liquidity.Using 1994–2008 HMDA data for conventional, conforming sized loans, three distinct periods with regard to GSE crowd out are apparent. From 1994 to 2003, the share of loans sold to the secondary market increased from 60 to over 90%, private sector and GSE market shares of loan purchases were roughly similar for most market segments, and IV estimates indicate relatively little GSE crowd out of private secondary market purchases. From 2004 to 2006, private loan purchases boomed and dominated those of the GSEs, while IV estimates indicate crowd out jumped to 50% at the peak of the boom. This is especially true in the market for home purchase as opposed to refinance loans. With the crash in housing and mortgage markets in 2007, private sector intermediaries pulled back, the GSEs regained market share, and evidence of GSE crowd out disappeared in both the home purchase loan and refinance markets. These patterns suggest that the degree of GSE crowd out varies with market conditions and that the federal takeover of Fannie Mae and Freddie Mac likely served to enhance liquidity to the mortgage market during the 2007–2009 financial crisis.     

Employing Grounded Theory to Uncover Behavioral Competencies of Information Technology Project Managers

This study employs a unique combination of the grounded theory methodology (GTM) and Behavioral Event Interviews to explore the competencies of IT project managers. The findings largely support other studies using more traditional data collection approaches but also provide some new insights that warrant attention from practitioners and researchers alike. These insights include the importance of multiple modes of communication both internal to the project and also with external stakeholders. Some significant differences between the competencies of experienced and inexperienced project managers were also uncovered. Finally, the use of higher authorities to influence project stakeholders was observed.     

Acknowledging the Purpose of Partnership

The paper explores a case of partnership between a large pharmaceutical company and a national charity in the United Kingdom, a partnership from which the drug company sought improved public relations, and the charity money. Neither side was able to accept this reality. Managers of the partnership insisted that its only purpose was to improve the lifestyle of teenagers. They were supported by a literature on partnership that also tends to ignore the distinction between the task the partnership is set and its fundamental purpose. While much is made of the benefits of partnership, there are likely to be costs, both private and social, associated with failure to admit the purpose of partnership.