Scientific publications, patents and technological capabilities in late-industrializing countries

Investments in learning in late-industrializing countries have began to include outputs in the form of scientific publications and patents. We examine the patterns which these outputs take by correlating their growth rates with foreign investment, capital formation, R&D expenditures and other variables. We also analyze the scientfic fields of Publications. Where possible, we compare the patterns of latecomers with those af advanced countries, and try to assess whether there has been convergence or divergence in the number of patents and scientific publications over time.     

A Foot in the Door: Relationship Marketing Efforts Towards Transaction-Oriented Customers

Despite the growing awareness and use of relationship marketing principles, there are still limitations to the range of exchange situations to which relationship marketing is applicable. Customers may resist suppliers' attempts to become intimate. This contribution deals with how suppliers seek to overcome customer unwillingness, through an investigative case study. Seven propositions are developed on the marketing relationship policies followed by suppliers seeking to initiate, maintain and terminate relations with transaction-oriented customers.     

Manual and Automated Procedures for Compiling a Very Large Sample of Centenarian Pedigrees

A large portion of the baby boomer population will live beyond the age of 90 years, and entitlement programs and various insurance products have thus become interested in longevity risk. Beyond cohort life table predictions, actuaries have little to go on in determining which individuals or portions of populations are at increased risk of living to 90 or 100 or even older. We and others have noted strong familial risk for living beyond the oldest one percentile of survival, and we developed an algorithm that uses information about relatives’ longevity to compute the chance of an individual surviving to extreme old age. An important step of this work is to compile large samples of pedigrees with and without long-lived family members. Here we describe our process of hand curation of centenarian pedigrees and software that we have developed for the automated construction of such pedigrees using internet-based resources that can support the manual process.     

Leading public service organizations: how to obtain high employee self-efficacy and organizational performance

Concerns are sometimes raised that transactional leadership harms public organizations’ performance because demands thwart employees’ self-efficacy. However, the opposite may be argued – conditional rewards strengthen feelings of competence because they provide positive feedback on performance. We study ninety-two high school principals’ reported use of contingent rewards and sanctions and self-efficacy among their 1,932 teachers. The results indicate that contingent rewards strengthen self-efficacy, and that sanctions are not negatively related with self-efficacy or performance. Furthermore, the teachers’ self-efficacy can be linked positively to organizational performance. This suggests that rewards can be an important tool for managers in the public sector.     

Jump-robust volatility estimation using nearest neighbor truncation

We propose two new jump-robust estimators of integrated variance that allow for an asymptotic limit theory in the presence of jumps. Specifically, our MedRV estimator has better efficiency properties than the tripower variation measure and displays better finite-sample robustness to jumps and small (“zero”) returns. We stress the benefits of local volatility measures using short return blocks, as this greatly alleviates the downward biases stemming from rapid fluctuations in volatility, including diurnal (intraday) U-shape patterns. An empirical investigation of the Dow Jones 30 stocks and extensive simulations corroborate the robustness and efficiency properties of our nearest neighbor truncation estimators.     

Learning to Love Biomimetic Killing: How Jurassic World Embraces Life Forms as Weapons

This article examines how the latest film in a series of movies about a dinosaur theme park, Jurassic World, became entangled in the politics of military representations in popular culture. Beginning with the ways in which the Pentagon has influenced the film industry in the 9/11 media environment, we go on to detail how Jurassic World enacts the current high‐tech military research into biowarfare—weaponizing animals and defining nature as the ultimate killing machine. In the film, the dino‐stars are harnessed into battle to protect the humans, led by a former Navy soldier who takes a pack of Velociraptors, and filmgoers, on a thrilling hunt to destroy a bioengineered, genetically modified dino‐monster. Though the film offers a commercial critique of designing animals purely for profit, it fails to challenge the profit‐making ties between the military industries, weapons technology, and corporate entertainment media. Character depictions, narrative, and visual and filmic storytelling devices are explored in order to identify the tropes directing the film's message. Ultimately, Jurassic World presents the military's new frontier of biowarfare with enthusiasm, not skepticism, and Hollywood welcomes a “brave new world” in which the biological world has been harnessed for military purposes.     

Globalization,Tax Distortions,and Public‐Sector Retrenchment*

It is widely perceived that globalization inevitably leads to a retrenchment of tax‐financed public‐sector activities. The argument is that tax distortions increase when production is more easily relocated across countries (the elasticity argument). We question this perception in a model that captures standard mechanisms from trade and open‐economy models. Importantly, the retrenchment argument overlooks the fact that the basic effect of integration (i.e., gains from trade) tends to lower the marginal costs of public funds. Moreover, the elasticity argument is not unambiguously supported, and there is no race to the bottom as a result of the perceived terms‐of‐trade effects of non‐cooperative fiscal policies.     

Towards a unified framework for high and low frequency return volatility modeling

This paper provides a selective summary of recent work that has documented the usefulness of high-frequency, intraday return series in exploring issues related to the more commonly studied daily or lower-frequency returns. We show that careful modeling of intraday data helps resolve puzzles and shed light on controversies in the extant volatility literature that are difficult to address with daily data. Among other things, we provide evidence on the interaction between market microstructure features in the data and the prevalence of strong volatility persistence, the source of significant day-of-the-week effect in daily returns, the apparent poor forecast performance of daily volatility models, and the origin of long-memory characteristics in daily return volatility series.