The demand for M3 and inflation forecasts: An empirical analysis for Switzerland

The Demand for M3 and Inflation Forecasts: An Empirical Analysis for Switzerland. — This paper argues that money should continue to play an important role in monetary policy even if a central bank pursues a strategy based on inflation forecasts. Within the context of an error correction model, the paper delivers empirical evidence that both the growth rate of the monetary aggregate M3 and the size of excess M3 incorporate useful information with regard to future inflation in Switzerland. This evidence strongly suggests that money should remain an important indicator for monetary policy.     

Initiation of a formula for approximate valuation of premiums for disability benefits

Abstract

The premium for a deferred disability pension payable continually during maximum n years may be expressed by means of the well known fundamental symbolic letters as in recent times, the exact value (1) is often approximated ¹ This approximation formula (2), having been used for quite a length of time in Sweden and Norway, is now officially adopted in Switzerland for the new group insurance tariffs introduced in 1948. by the expression      

Attitudes to externally organising knowledge management tasks: a review, reconsideration and extension of the NIH syndrome

Companies may carry out all major knowledge management tasks, i.e. knowledge acquisition, accumulation and exploitation, internally and externally. Therefore, we propose the integrate-or-relate decision in knowledge accumulation as a complement to the well-known make-or-buy and keep-or-sell decisions in knowledge acquisition and exploitation. A key factor for taking adequate decisions, for building up organisational capabilities and for realising a firm's knowledge potential are unbiased attitudes to the knowledge management tasks. While past research has focused on the 'not-invented-here' (NIH) syndrome as a negative attitude to acquiring external knowledge, a more holistic view is adopted in the present article by extending prior research on two dimensions. Firstly, we consider all major knowledge management tasks and do not limit our analysis to knowledge acquisition. Secondly, we take into account that, apart from overly negative attitudes, excessively positive attitudes may exist. Accordingly, we identify the following six syndromes: 'NIH' vs. 'buy-in' in knowledge acquisition, 'all-stored-here' vs. 'relate-out' in knowledge accumulation and 'only-used-here' vs. 'sell-out' in knowledge exploitation. After briefly reviewing research into NIH and developing a knowledge management framework, the syndromes are defined, and possible antecedents, consequences and managerial actions are described.     

The curse of bureaucratisation or the blessings of professionalisation? Nurses’ engaged adoption of quality management in hybrid managerial positions

The paper concerns how new quality management in the Danish hospital sector has created new career and professionalisation opportunities for nurses. While the well-known dualism between the logics of professionalism and managerialism is challenged in the literature, not much is known about how engagement in the tighter steering of practice may converge with professional identities and meaningfulness in work. The paper applies a Bourdieusian and ethnographic approach to the examination of nurses’ enthusiastic involvement in quality management as they take up hybrid managerial positions in an acute care department. The findings demonstrate the importance of the material and symbolic value of scientific-bureaucratic knowledge in legitimizing quality management, achieving meaningfulness in practice and bolstering the professional role of nurses.     

An action programme for land-locked LDCs

High on the agenda of the UNCTAD III Conference is the problem of least developed countries. It is realised that these countries need special cooperative action to improve their chances of overcoming the worst handicaps of poverty stabilised by stagnation. The hard-core cases within the group of least developed countries are the land-locked countries.