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Models fiscal policy interactions between fiscal authorities and private investors in the foreign exchange market in a game‐theoretic framework. Using a two‐period game, I consider the credible and noncredible announcements of the domestic fiscal authority with respect to the stance of its future fiscal policy. Each country faces a trade‐off between its current account and budget deficit objectives and time‐inconsistency arises due to lack of a sufficient number of policy instruments. For this game I derive explicitly the time consistent and precommitment policies for the domestic fiscal authority and explain that precommitment is welfare improving relative to the time‐consistent policy. In a two‐country framework, both precommitment with respect to the private sector and co‐operation between the two policymakers tend to improve welfare.

The way budgets are used may reflect the requirements of particular institutional and organisational contexts, rather than a ubiquitous need to plan and control technical operations. This paper examines the budgetary processes in a particular institutional and organisational setting‐ that of a public sector commercial organisation in a developing country. The findings suggest that in the special circumstances of the organisation studied, the budgetary process is a way of demonstrating conformity with the needs and requirements of external authorities, rather than a means of assisting internal management. These findings are consistent with and added to the understanding of theory which stresses the symbolic and institutionalised uses of accounting in organisations

The purpose of this paper is to put the paper by Jay Ogilvy in the context of current debates around the philosophical foundations of future studies.

The paper takes the form of a review and analyzes the current literature on foresight and philosophy of the future.

The paper finds that the practical challenge of taking a “scenaric stance”, as articulated in “Facing the fold”, cannot be addressed without going beyond the typically epistemological solutions proposed by most futurists.

The challenge is not finding ways to “know” the future, rather to find ways to live and act with not‐knowing the future.

The “scenaric stance” points to a way of embracing what Henri Bergson calls “the continuous creation of unforeseeable novelty.”

The “scenaric stance” offers one way of addressing the difficult, often deeply painful challenge of reconciling the desire for certainty with the desire to “be free” – in the Senian sense of capacity – by providing a way to embrace ambiguity and spontaneity.

The emergence of new solutions to how people think about the future rather than what kind of future reflects a confluence of events in the realms of theory and practice. The reason why one needs to and can rethink how one thinks about the future is original to the present conjuncture.

The objective of this paper is to make a case for a scenaric stance that holds high road and low road futures in mind at once. Opening with regrets about the total eclipse of Utopian thinking, the paper aims to move on to embrace both aspirational futures and a forthright recognition of the many ways in which things could go wrong. Adopting a scenaric stance amounts to a new, fourth attitude toward historical time and the future. The ancients lived in an ahistorical, cyclical time. Second, modernity embraced a progressive and optimistic approach to the future. Third, post‐modernity turns pessimistic about the future. Fourth, a new scenaric stance vindicates Utopian optimism by pairing it with a forthright recognition of pessimistic possibilities.

This is a reflective, almost philosophical paper that articulates a new attitude toward the future, which demonstrates the significance of scenario planning for attitudes toward the future.

A scenaric stance can restore the liberatory potential of Utopian thinking by yoking optimistic, aspirational futures together with a clear‐eyed recognition of the several ways that plans can misfire.

This is a philosophical, reflective piece that does not rely on any quantitative evidence or rigorous modeling.

The practical implications are major: to the extent that the health of the economy relies on confidence and a willingness to take risks, a lemming‐like race to the bottom will result in a Japan‐like endless recession. A vindication is needed for aspirational scenarios.

Everyone is better off when fewer people are living in crouch.

After three decades of reviewing and contributing to the literature on future studies, the author has seen nothing that remotely resembles the argument of this paper. Its value consists in its potential for lifting people's sights. One stands in danger of a loss of confidence and an endless recession. One needs to restore a sense of possibility and optimism, but can do so responsibly only if one holds on to an honest sense of the real dangers one faces.

This paper analyzes the effects of the monetary stance on the media's favorable (or otherwise) attitude to the State Bank of Vietnam's (SBV) monetary policy using monthly data from 2011 to 2021. Monetary stance is a multivariate index based on the growth rates of money supply and domestic credit. A large set of articles published in five Vietnam daily newspapers are utilized to construct a view of the media's favorableness to the monetary policy.

This paper uses hand-collected data from 211 articles published in five newspapers from December 2011 to September 2021 in order to examine the relationship between the monetary stance and the media's favorableness to monetary policy. Following the studies of He and Pauwels (2008) and Xiong (2012), the authors constructed a multivariate stance index to capture most of the important changes in the SBV's monetary policy stance.

The study's main findings are that a change in monetary stance from easing to neutral/tightening, or from neutral to tightening, is greatly appreciated by the media. The study's findings are robust, especially in terms of alternative measures of the media's favorableness and monetary policy variables.

These findings have important policy implications for implementing SBV's monetary policy.

The main contribution of this paper is that the authors are the first to study the nexus of multivariate monetary stance and the media's favorableness to a central bank's non-inflation-targeting mandate. In particular, the study’s findings confirm that the SBV's multivariate monetary stance affects the media's favorableness, whereas the effect of inflation is statistically insignificant.

This paper aims to investigate how consumers react to corporate managers publicly espousing an ideological belief regarding a social issue. In particular, this paper investigates anger derived by consumers as a mediator explaining why consumer attitudes change.

An experiment was used to present respondents with a scenario about managers espousing specific ideological beliefs. All independent and dependent variables were measured. Variable relationships were analyzed utilizing general linear models to understand direct effects and bootstrapping to understand mediation.

When made public, managers’ stances can make multiple, possibly competing, ideologies salient to consumers. Consumer reaction to a stance is most positive when held ideological beliefs are competing and consumers anchor on one ideology in agreement with the manager’s stance, leading to less anger and enhanced brand attitudes. When competing beliefs exist, consumers minimize the importance of dissonant beliefs. Further, preexisting brand attitudes provide a halo effect which helps to determine the amount of anger derived and any potential shift in brand attitude.

This paper offers insights into when a reparative brand strategy may need to be structured after a manager’s ideological stance is made public. Not all of a company’s targeted demographic will take offense, and any reparative communications may need to focus on the consumer relationship with the brand rather than an outright apology.

This paper adds to the literature investigating the intersection of ideology and marketing. This paper shows that there is an opportunity for managers to strategically shape marketing messages to capitalize on situations where consumers hold multiple, possibly competing ideological beliefs. Thus, this paper highlights that understanding consumers’ brand attitude shifts requires a more encompassing view of ideologies, as opposed to viewing them in isolation.

Buildability analysis has a potential of improving the outcomes of construction projects. However, the usage of buildability analysis is not well pronounced within the construction sector. This study aims to provide understanding of the concept of buildability analysis with the view to predicting the future stance for buildability analysis.

The study adopted a survey research method. Questionnaires were administered to purposively selected group of construction professionals working in Nigeria. A total of 82 questionnaires were administered among the sampled respondents, out of which a total of 51 (62.2%) were adequately filled and returned. The data collected were analysed using descriptive and inferential statistics.

The results revealed inability of the designers and constructors to have a common upstanding of the entire construction process, fragmented nature of the construction industry and poor correlation between design and construction as the most essential needs for buildability analysis. On the benefits of buildability analysis, the results showed increase in efficiency, save wasteful efforts and quality improvement as the most significant ones. In addition, the results from the study revealed that there is a statistically significant difference in some of the needs for and benefits of buildability analysis among the survey participants.

The study identified three future stances for buildability analysis to include building unity, efficient and effective construction and high competition. Framework for buildability analysis was developed aimed at providing guidance to professionals in achieving enhanced project production information. The findings provide in-depth insight of the needs for and benefits of buildability analysis that can inform professionals in the construction industry to adopt buildability analysis programme as a lasting solution to most design challenges and buildability problems confronting the sector.

A magnetorheological knee prosthesis is presented that automatically adapts knee damping to the gait of the amputee using only local sensing of knee force, torque, and position. To assess the clinical effects of the user‐adaptive knee prosthesis, kinematic gait data were collected on four unilateral trans‐femoral amputees. Using the user‐adaptive knee and a conventional, non‐adaptive knee, gait kinematics were evaluated on both affected and unaffected sides. Results were compared to the kinematics of 12 age, weight and height matched normals. We find that the user‐adaptive knee successfully controls early stance damping, enabling amputee to undergo biologically‐realistic, early stance knee flexion. These results indicate that a user‐adaptive control scheme and local mechanical sensing are all that is required for amputees to walk with an increased level of biological realism compared to mechanically passive prosthetic systems.

This chapter investigates the predictability of the European monetary policy through the eyes of the professional forecasters from a large investment bank. The analysis is based on forward-looking Actual and Perceived Taylor Rules for the European Central Bank which are estimated in real-time using a newly constructed database for the period April 2000–November 2009. The former policy rule is based on the actual refi rate set by the Governing Council, while the latter is estimated for the bank’s economists using their main point forecast for the upcoming refi rate decision as a dependent variable. The empirical evidence shows that the pattern of the refi rate is broadly well predicted by the professional forecasters even though the latter have foreseen more accurately the increases rather than the policy rate cuts. Second, the results point to an increasing responsiveness of the ECB to macroeconomic fundamentals along the forecast horizon. Third, the rolling window regressions suggest that the estimated coefficients have changed after the bankruptcy of Lehman Brothers in October 2008; the ECB has responded less strongly to macroeconomic fundamentals and the degree of policy inertia has decreased. A sensitivity analysis shows that the baseline results are robust to applying a recursive window methodology and some of the findings are qualitatively unaltered from using Consensus Economics forecasts in the regressions.

This chapter explores how four culturally, ethnically, and linguistically diverse colleagues use self-study methodologies and online journaling to systematically examine inquiry-based teaching and learning in international contexts. Respectively from the USA, Canada, Taiwan, and China, the main research question is, “How can we develop an inquiry stance in our similarly diverse teacher candidates?” For five months, they explore the question with one another in an interactive online journal. The analysis of their written journal reflections result in four main themes: (1) naming and framing inquiry and context, (2) perspectives on translating theory to practice, (3) common practices for developing inquiry stance, and (4) policy work. The chapter concludes with a list of recommendations for fostering inquiry-based teaching and learning with culturally, ethnically, and linguistically diverse teacher candidates. Self-study research methodologies, Philosophy for Children, and online journaling are also suggested as professional development models for diverse globalized teacher educators.