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Book part
Publication date: 3 June 2021

Soma Pal, Chandrima Chakraborty and Dipyaman Pal

The present chapter examined the behavior of relative wage rate, productivity of labor, and total factor productivity growth (TFPG) and also attempted to explore the…

Abstract

The present chapter examined the behavior of relative wage rate, productivity of labor, and total factor productivity growth (TFPG) and also attempted to explore the causal relationship between relative wage rate and productivity of labor as well as relative wage rate and TFPG in food and beverage industry in India over the period 1980–1981 to 2017–2018. The result of Sen (2003) approach of endogenous structural break suggests that the series of relative wage rate, productivity of labor, and TFPG follows trend stationary process. A significant break is found for all the three aforementioned variables, being 1984–1985 for relative wage rate and productivity of labor whereas 2007–2008 for TFPG. For the three variables, growth rate has increased after the break. Bidirectional causality between relative wage rate and productivity of labor as well as relative wage rate and TFPG is evident.

Article
Publication date: 1 January 1989

Aidan Stradling

Eastern Europe and, perhaps most importantly, the Soviet Union arebecoming increasingly accessible to the West. With glasnosttaking hold and trading relations beginning to…

Abstract

Eastern Europe and, perhaps most importantly, the Soviet Union are becoming increasingly accessible to the West. With glasnost taking hold and trading relations beginning to thaw, this article examines the opportunities for trade that COMECON present.

Details

European Business Review, vol. 89 no. 1
Type: Research Article
ISSN: 0955-534X

Keywords

Book part
Publication date: 21 November 2014

Igor Vaynman and Brendan K. Beare

The variance targeting estimator (VTE) for generalized autoregressive conditionally heteroskedastic (GARCH) processes has been proposed as a computationally simpler and…

Abstract

The variance targeting estimator (VTE) for generalized autoregressive conditionally heteroskedastic (GARCH) processes has been proposed as a computationally simpler and misspecification-robust alternative to the quasi-maximum likelihood estimator (QMLE). In this paper we investigate the asymptotic behavior of the VTE when the stationary distribution of the GARCH process has infinite fourth moment. Existing studies of historical asset returns indicate that this may be a case of empirical relevance. Under suitable technical conditions, we establish a stable limit theory for the VTE, with the rate of convergence determined by the tails of the stationary distribution. This rate is slower than that achieved by the QMLE. The limit distribution of the VTE is nondegenerate but singular. We investigate the use of subsampling techniques for inference, but find that finite sample performance is poor in empirically relevant scenarios.

Details

Essays in Honor of Peter C. B. Phillips
Type: Book
ISBN: 978-1-78441-183-1

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Article
Publication date: 1 March 2000

Matthew Hinton, Graham Francis and Jacky Holloway

Reflects on a three‐year project examining the evolving nature of “best practice” benchmarking in UK‐based organisations. The findings describe the current state of…

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Abstract

Reflects on a three‐year project examining the evolving nature of “best practice” benchmarking in UK‐based organisations. The findings describe the current state of benchmarking and some of its advantages across a wide variety of public and private sector organisations. Also investigates the disincentives to benchmarking activity experienced by practising benchmarkers, as well as the factors which inhibit the initial take‐up of this technique. In addition, the notion that a maturity curve exists for organisations engaged in benchmarking is explored.

Details

Benchmarking: An International Journal, vol. 7 no. 1
Type: Research Article
ISSN: 1463-5771

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Book part
Publication date: 16 December 2017

Riccardo Bellofiore and Scott Carter

Resurgent interest in the life and work of the Italian Cambridge economist Piero Sraffa is leading to New Directions in Sraffa Scholarship. This chapter introduces readers…

Abstract

Resurgent interest in the life and work of the Italian Cambridge economist Piero Sraffa is leading to New Directions in Sraffa Scholarship. This chapter introduces readers to some of these developments. First and perhaps foremost is the fact that as of September 2016 Sraffa’s archival material has been uploaded onto the website of the Wren Library, Trinity College, Cambridge University, as digital colour images; this chapter introduces readers to the history of these events. This history provides sharp relief on the extant debates over the role of the archival material in leading to the final publication of Production of Commodities by Means of Commodities, and readers are provided a brief sketch of these matters. The varied nature of Sraffa scholarship is demonstrated by the different aspects of Sraffa’s intellectual legacy which are developed and discussed in the various entries of our Symposium. The conclusion is reached that we are on the cusp of an exciting phase change of tremendous potential in Sraffa scholarship.

Details

Including a Symposium on New Directions in Sraffa Scholarship
Type: Book
ISBN: 978-1-78714-539-9

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Article
Publication date: 1 March 1994

R. VANKEMMEL, W. SCHOENMAKER and K. DE MEYER

This paper presents a new discretization technique of the hydrodynamic energy balance model based on a finite‐element formulation. The concept of heat source lumping is…

37

Abstract

This paper presents a new discretization technique of the hydrodynamic energy balance model based on a finite‐element formulation. The concept of heat source lumping is introduced, and the thermal conductivity model includes the effect of varying both carrier concentrations and temperatures. The energy balance equation is formulated to account for kinetic energy as a convective flow. The new discretization method has the advantage that it allows for assembling the functions out of elementary variables available over elements instead of along element links. Therefore, theoretically, calculation of the Jacobian should be three times faster than by the classic method. Results are given for three examples. The method suffers from mathematical instabilities, but provides a good basis for future work to solve these problems.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 13 no. 3
Type: Research Article
ISSN: 0332-1649

Article
Publication date: 1 October 2002

Georgios I. Zekos

Presents an updated version of a paper given by the author at an international conference in Athens 2000. Briefly outlines the development of the internet and e‐commerce…

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Abstract

Presents an updated version of a paper given by the author at an international conference in Athens 2000. Briefly outlines the development of the internet and e‐commerce and the effect of globalization. Considers the potential for the EU to standardize rules and advance its economic integration agenda. Looks at present EU laws in this area. Covers the unicitral model law on electronic commerce, its merits and its problems. Discusses personal jurisdiction under traditional rules and cyberspace transactions. Concludes that existing legislation must be re‐evaluated in the light of technological advances, the need for a more mobile kind of legal person and the worldwide nature of transactions across territorial boundaries, paperless contracts and digital signatures and the use of self‐regulation are also covered.

Details

Managerial Law, vol. 44 no. 5
Type: Research Article
ISSN: 0309-0558

Keywords

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