The short run efficacy of monetary policy under floating exchange rates reconsidered

This paper disputes the argument that the short-run effectiveness of monetary policy in stabilizing domestic output under floating rates is necessarily reduced if elasticities of demand for imports and exports with respect to the current exchange rate are low and capital flows depend on the exchange rate. It is shown that the relative efficacy of monetary changes is determined by the interest rate elasticity of international interest payments and receipts and the effect of exchange rate variations on the demand for money in addition to the exchange rate elasticities of trade and capital flows.     

Size, technology, complexity, and structural differentiation: toward a theoretical synthesis.

This paper proposes a theoretical synthesis of the concepts of organizational size, technology, complexity, and structural differentiation. It suggests and finds that the most important determinant of differentiation in the division of labor is the scope of an organization's task, a technological dimension, and not organizational size. Neither horizontal nor vertical differentiation is thought to be determined by size while the scope of the task is proposed as a determinant of horizontal differentiation. The findings, however, support only the inference of a moderate causal connection between either size or task scope and either form of differentiation. Throughout the analysis and discussion the contrast between causal inference based on associations of levels and change rates is discussed. When dealing with the organizational processes addressed in this paper, both associations must be examined to adequately portray the complexity of the causal processes inferred.