The origins of meso economics

The paper starts from Schumpeter’s proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, ‘creative destruction’ leads to economic development ‘from within’ (macro). It is argued that Schumpeter’s approach can be developed into a new—more general—micro-meso-macro framework in economics. Center stage is meso. Its essential characteristic is bimodality, meaning that one idea (the generic rule) can be physically actualized by many agents (a population). Ideas can relate to others, and, in this way, meso constitutes a structure component of a ‘deep’ invisible macro structure. Equally, the rule actualization process unfolds over time—modelled in the paper as a meso trajectory with three phases of rule origination, selective adoption and retention—and here meso represents a process component of a visible ‘surface’ structure. The macro measure with a view to the appropriateness of meso components is generic correspondence. At the level of ideas, its measure is order; at that of actual relative adoption frequencies, it is generic equilibrium. Economic development occurs at the deep level as transition from one generic rule to another, inducing a change of order, and, at the surface level, as the new rule is adopted, destroying an old equilibrium and establishing a new one.     

Let's reach all of the market for health administration education: design, development, and delivery issues in distance delivery

Web-based distance learning is an up and coming form of education. Web-based education delivered via a Web browser through the Internet has been found to be less expensive, more efficient, and sometimes more effective than classroom training. In the distance learning environment, the traditional "lecture and chalkboard" classroom pedagogy is completely absent. The virtual classroom becomes an "active learning" environment in which students, while utilizing technology, are able to discuss health administration concepts, analyze cases, work exercises, and discuss and share these interactively with both the instructor and fellow classmates. This method of Health Administration Education encourages students to learn from each other and promotes the open exchange of ideas and experiences. It does not require working students to put their careers on hold while they continue their studies. In this paper, we explore the opportunities and challenges of delivering web-based Health Administration courses via the Internet. Included is a discussion of the design, development, and delivery of a distance learning, web-based Health Administration Education system.     

Functional income distribution,capacity utilization,capital accumulation and productivity growth in Turkey: A post-Kaleckian analysis

The aim of this article is to examine the relation between functional income distribution, capacity utilization, capital accumulation and productivity in Turkey by identifying demand and overall regimes prevalent in the economy. For this purpose, we conducted an empirical analysis using different specifications of the post-Kaleckian model of Hein and Tarassow. This model defines and characterizes an overall regime by endogenizing productivity growth and integrating it into the models in this tradition. Empirical findings show that while the demand regime is wage-led, the overall regime turns out to be unstable in Turkey due to the destabilizing impact of productivity growth. This article contributes to the literature by being the first study that simultaneously identifies the demand and the overall regimes of an economy.     

Information related service trade within firms: evidence from firm-level data in Germany

Review of World Economics - Multi-unit firms have productivity advantages over competitors because of their use of a non-rival asset—firm-specific knowledge—in several units. Using...     

Neural network detection of management fraud using published financial data

This paper uses a Artificial Neural Network (AutoNet) to develop a model for detecting management fraud. The study offers an in-depth examination of important publicly available predictors of fraudulent financial statements. We find a model with a high probability of detecting fraudulent financial statements on one sample. The study reinforces the validity and efficiency of AutoNet as a research tool and provides additional empirical evidence regarding the merits of suggested red flags for fraudulent financial statements. © 1998 John Wiley & Sons, Ltd.     

Determinants of heterogeneity in European credit ratings

In this study, we empirically analyze the determinants of heterogeneity in rating assessments across different segments of the European loan market. We conduct a benchmarking analysis using rating information on European corporate obligors from nine major Austrian banks that have a large share of foreign lending, particularly in the Central and Eastern European region. We provide evidence that, generally, overall heterogeneity among rating outcomes for foreign markets is higher than for domestic markets. Furthermore, we show that heterogeneity increases in transition economies and those markets where Austrian bank involvement is relatively low. Our evidence supports the hypothesis that heterogeneity in the assessment of credit risk is determined not only by the objective quality of information, which is deemed to be lower in transition economies, but also by the subjective access to information about obligors measured by the level of domestic bank involvement in the respective foreign market. Furthermore, we quantify potential effects on regulatory capital requirements.     

SLEEPWALKING THROUGH SCHOOL: NEW EVIDENCE ON SLEEP AND ACADEMIC ACHIEVEMENT

Policymakers advocating for later school starting times argue that increased sleep duration may generate important schooling benefits. Using data from the National Longitudinal Study of Adolescent Health, this study examines the relationship between sleep duration and academic performance, while carefully controlling for difficult‐to‐measure characteristics at the family and individual levels. We find that increased sleep time is associated with improvements in classroom concentration as well as increased educational attainment. However, we also find evidence of diminishing returns to increased sleep. We estimate an “academic optimum” number of sleep hours of, on average, 8.5 hours per night. Turning to sleep quality, we find that the onset of insomnia‐like symptoms is associated with diminished contemporaneous academic concentration, but little change in long‐run educational attainment. (JEL I12)     

Ideenwettbewerbe als innovatives Markenbindungsinstrument

Onlinebasierte Ideenwettbewerbe mit Web 2.0-Funktionalit?ten bieten neue innovative M?glichkeiten im Online Marketing. Sie tragen dazu bei, die Bekanntheit und positive Wahrnehmung einer Marke in der ?ffentlichkeit zu st?rken. Konsumenten setzen sich intensiver mit einer Marke auseinander, was schlie?lich zu einer st?rkeren Identifikation mit der Marke und Bindung führt. Auch Swarovski, dem Kristall-Weltmarktführer, gelang durch diese Einbindung von Konsumenten der Erfolg.     

Differences Between Management Philosophies Among American and Chinese Hotel Managers: A Cultural Comparison Between Las Vegas and Shanghai

The aim of this study is to ascertain, in an international tourism context, whether there are cultural discrepancies between hotel employees who have been educated and trained in a host country, and guests who have traveled to that country, given that each group is imbued with their own national culture. The findings indicate that not only do Thai frontline hotel employees have different expectations about the behavior of Japanese and Korean customers, but that the expectations of both customer groups concerning their own behavior differ from those of Thai employees. A significant gap was found in perceptions of actual behavior between the international customers and hotel staff, suggesting that cultural discrepancies are indeed present, but also vary by ethnicity. The scale of the discrepancy between Thai employees’ perceptions of Japanese tourists’ behavior, for example, was larger than in the case of the Korean customers. Comparison of the expectations of the two international customer groups also revealed strong differences.     

Housing,mortgage bailout guarantees and the macro economy

What are the macroeconomic and distributional effects of government bailout guarantees for Government Sponsored Enterprises (e.g., Fannie Mae)? A model with heterogeneous, infinitely lived households and competitive housing and mortgage markets is constructed to evaluate this question. Households can default on their mortgages via foreclosure. The bailout guarantee is a tax-financed mortgage interest rate subsidy. Eliminating this subsidy leads to a large decline in mortgage origination and increases aggregate welfare by 0.5% in consumption equivalent variation, but has little effect on foreclosure rates and housing investment. The interest rate subsidy is a regressive policy: it hurts low-income and low-asset households.