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Article
Publication date: 29 December 2023

Yeva Nersisyan and L. Randall Wray

In this paper, the authors examine the causes of 2021–2023 inflation and evaluate whether raising interest rates is the right solution.

Abstract

Purpose

In this paper, the authors examine the causes of 2021–2023 inflation and evaluate whether raising interest rates is the right solution.

Design/methodology/approach

The authors evaluate both the macroeconomic (too much demand) and microeconomic (monopoly pricing and supply chains) explanations for the causes of inflation.

Findings

The authors argue that the spike in inflation is due to disrupted supply chains and corporations taking advantage of the situation to raise their prices. The aggregate demand stimulus from fiscal policy had all but played out by the time inflation arose, making it an unlikely cause of said inflation.

Originality/value

The authors' paper demonstrates that raising interest rates is the wrong solution to tackling the problem of inflation, especially since it's coming from the supply side.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 36 no. 2
Type: Research Article
ISSN: 1096-3367

Keywords

Article
Publication date: 16 April 2024

Askar Choudhury

The COVID-19 pandemic, a sudden and disruptive external shock to the USA and global economy, profoundly affected various operations. Thus, it becomes imperative to investigate the…

Abstract

Purpose

The COVID-19 pandemic, a sudden and disruptive external shock to the USA and global economy, profoundly affected various operations. Thus, it becomes imperative to investigate the repercussions of this pandemic on the US housing market. This study investigates the impact of the COVID-19 pandemic on a crucial facet of the real estate market: the Time on the Market (TOM). Therefore, this study aims to ascertain the net effect of this unprecedented event after controlling for economic influences and real estate market variations.

Design/methodology/approach

Monthly time series data were collected for the period of January 2010 through December 2022 for statistical analysis. Given the temporal nature of the data, we conducted the Durbin–Watson test on the OLS residuals to ascertain the presence of autocorrelation. Subsequently, we used the generalized regression model to mitigate any identified issues of autocorrelation. However, it is important to note that the response variable derived from count data (specifically, the median number of months), which may not conform to the normality assumption associated with standard regression models. To better accommodate this, we opted to use Poisson regression as an alternative approach. Additionally, recognizing the possibility of overdispersion in the count data, we also explored the application of the negative binomial model as a means to address this concern, if present.

Findings

This study’s findings offer an insightful perspective on the housing market’s resilience in the face of COVID-19 external shock, aligning with previous research outcomes. Although TOM showed a decrease of around 10 days with standard regression and 27% with Poisson regression during the COVID-19 pandemic, it is noteworthy that this reduction lacked statistical significance in both models. As such, the impact of COVID-19 on TOM, and consequently on the housing market, appears less dramatic than initially anticipated.

Originality/value

This research deepens our understanding of the complex lead–lag relationships between key factors, ultimately facilitating an early indication of housing price movements. It extends the existing literature by scrutinizing the impact of the COVID-19 pandemic on the TOM. From a pragmatic viewpoint, this research carries valuable implications for real estate professionals and policymakers. It equips them with the tools to assess the prevailing conditions of the real estate market and to prepare for potential shifts in market dynamics. Specifically, both investors and policymakers are urged to remain vigilant in monitoring changes in the inventory of houses for sale. This vigilant approach can serve as an early warning system for upcoming market changes, helping stakeholders make well-informed decisions.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Abstract

Details

Big Data Analytics for the Prediction of Tourist Preferences Worldwide
Type: Book
ISBN: 978-1-83549-339-7

Article
Publication date: 21 March 2024

Emrah Keskin, Ozgur Yayla, Nevres Sezen and Bekir Bora Dedeoğlu

Gastronomic festivals are important events to bring people together around food-themed activities. This study aimed at determining the relationships between festival quality…

Abstract

Purpose

Gastronomic festivals are important events to bring people together around food-themed activities. This study aimed at determining the relationships between festival quality, memorable food experience, loyalty, behavioral intention, hedonic well-being, and eudaimonic well-being. In this study, festival quality is the independent variable that affects the memorable food experience, the memorable food experience is the independent variable that affects loyalty, and loyalty is the independent variable that affects behavioral intent. Hedonic well-being and eudaimonic well-being are moderating variables. Behavioral intention is the dependent variable, while memorable food experience and loyalty are both dependent and independent variables.

Design/methodology/approach

The population consisted of local tourists visiting Orange Blossom Carnival held in Adana, Turkey. The survey technique and the convenience sampling method were preferred and 545 data were obtained.

Findings

The analysis results showed that all dimensions of the memorable food experience are strongly affected by festival quality. Plus, superior service approach and high value perception dimensions of the memorable food experience have significant effects on loyalty. Furthermore, destination loyalty was found to have a strong effect on behavioral intentions. Moreover, higher levels of Hedonic well-being (HWB) and Eudomenic well-being (EWB) were found to increase the effect of loyalty on behavioral intention; accordingly, the moderator roles of HWB and EWB were determined.

Practical implications

This article provides information that the memorable dining experiences of festival visitors who attend the Orange Blossom Carnival in Adana affect the quality of the festival and their intentions to loyalty. In addition, in the study, it was found that the well-being of carnival visitors had a moderating role in the effect of their loyalty on their behavioral intentions. Therefore, this article provides information on how the food experiences and well-being of the visitors at the gastronomy festival will affect which factors.

Originality/value

According to the findings, gastronomy-based events may affect tourists’ experiences, and tourists’ psychological well-being affects loyalty and behavioral intentions. Destination management organizations can learn about gastronomy-based festivals. The results of the study include a number of theoretical and practical findings for destination management organizations, festival managers, policy makers and academics working in the literature.

Details

Journal of Hospitality and Tourism Insights, vol. 7 no. 2
Type: Research Article
ISSN: 2514-9792

Keywords

Book part
Publication date: 9 February 2024

Edith Kuiper

Hazel Kyrk, one of the first women economists at the Economic Department of the University of Chicago and author of A Theory of Consumption (1923), conducted groundbreaking…

Abstract

Hazel Kyrk, one of the first women economists at the Economic Department of the University of Chicago and author of A Theory of Consumption (1923), conducted groundbreaking research for the Bureau of Home Economics of the US Department of Agriculture and the Bureau of Labor Statistics. Kyrk made a considerable contribution to the development of standards for a “decent living,” the Consumer Price Index, and the conceptualization of what would later turn into the definition of the poverty line. This chapter evaluates Kyrk’s use of eugenic notions of gender and race that were widely used in Kyrk’s day. This chapter shows that eugenic reasoning impacts Kyrk’s theoretical work only superficially but does structure her research on consumption standards through her focus on the white middle-class family as the unit of analysis for consumer behavior. This chapter also makes clear that the American Institutionalist approach to consumer behavior, rather than marginalized and side-tracked due to a lack of theoretical progress, was relegated to the margins of economics science together with the research of women economists into Home Economics departments and policy research at government institutions.

Details

Research in the History of Economic Thought and Methodology: Including a Symposium on Hazel Kyrk's: A Theory of Consumption 100 Years after Publication
Type: Book
ISBN: 978-1-80455-991-8

Keywords

Article
Publication date: 8 June 2023

Jean C. Essila and Jaideep Motwani

This study aims to focus on the supply chain (SC) cost drivers of healthcare industries in the USA, as SC costs have increased 40% over the last decade. The second-most…

Abstract

Purpose

This study aims to focus on the supply chain (SC) cost drivers of healthcare industries in the USA, as SC costs have increased 40% over the last decade. The second-most significant expense, the SC, accounts for 38% of total expenses in a typical hospital, while most other industries can operate within 10% of their operating cost. This makes healthcare centers supply-chain-sensitive organizations with limited facilities for high-quality healthcare services. As the cost drivers of healthcare SC are almost unknown to managers, their jobs become more complex.

Design/methodology/approach

Guided by pragmatism and positivism paradigms, a cross-sectional study has been designed using quantitative and deductive approaches. Both primary and secondary data were used. Primary data were collected from health centers across the country, and secondary data were from healthcare-related databases. This study examined the attributes that explain the most significant variation in each contributing factor. With multiple regression analysis for predicting cost and Student's t-tests for the significance of contributing factors, the authors of this study examined different theories, including the market-based view and five-forces, network and transaction cost analysis.

Findings

This study revealed that supply, materials and services represent the most significant expenses in primary care. Supply-chain cost breakdown results in four critical factors: facility, inventory, information and transportation.

Research limitations/implications

This study examined the data from primary and secondary care institutions. Tertiary and quaternary care systems were not included. Although tertiary and quaternary care systems represent a small portion of the healthcare system, future research should address the supply chain costs of highly specialized organizations.

Practical implications

This study suggests methods that can help to improve supply chain operations in healthcare organizations worldwide.

Originality/value

This study presents an empirically proven methodology for testing the statistical significance of the primary factors contributing to healthcare supply chain costs. The results of this study may lead to positive policy changes to improve healthcare organizations' efficiency and increase access to high-quality healthcare.

Details

Benchmarking: An International Journal, vol. 31 no. 4
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 10 January 2023

Harchitwan Kaur Lamba, Nived S. Kumar and Sanjay Dhir

This study theoretically investigates the extant literature published about circular economy and sustainable development to identify significant research themes, the most relevant…

Abstract

Purpose

This study theoretically investigates the extant literature published about circular economy and sustainable development to identify significant research themes, the most relevant authors, countries and journals.

Design/methodology/approach

Bibliometric analysis is used, followed by cluster formation using co-citation analysis. The clusters are discussed in-depth to identify emerging themes and future research areas.

Findings

By systematically reviewing 596 research articles, significant themes of research in this field were found. These include frameworks and indicators to define and assess the circular economy, circular business models and use cases, global and industrial contexts of application of circular economy and different dimensions of the circular economy.

Research limitations/implications

Publications from only one database have been used. Only articles published in relevant academic journals have been used for the bibliometric analysis. For co-citation analysis and cluster formation, only articles with a high number of citations were selected.

Originality/value

The analysis of the various clusters revealed research areas that can be explored in future research to understand the circular economy better and implement its practices to attain sustainability.

Details

International Journal of Productivity and Performance Management, vol. 73 no. 2
Type: Research Article
ISSN: 1741-0401

Keywords

Article
Publication date: 6 December 2022

Benna Hu, Laifu Wen and Xuemei Zhou

Vertical electrical sounding (VES) and Rayleigh wave exploration are widely used in the exploration of near-surface structure, but both have limitations. This study aims to make…

Abstract

Purpose

Vertical electrical sounding (VES) and Rayleigh wave exploration are widely used in the exploration of near-surface structure, but both have limitations. This study aims to make full use of the advantages of the two methods, reduce the multiple solutions of single inversion and improve the accuracy of the inversion. Thus, a nonlinear joint inversion method of VES and Rayleigh wave exploration based on improved differential evolution (DE) algorithm was proposed.

Design/methodology/approach

Based on the DE algorithm, a new initialization strategy was proposed. Then, taking AK-type with high-velocity interlayer model and HA-type with low-velocity interlayer model near the surface as examples, the inversion results of different methods were compared and analyzed. Then, the proposed method was applied to the field data in Chengde, Hebei Province, China. The stratum structure was accurately depicted and verified by drilling.

Findings

The synthetic data and field data results showed that the joint inversion of VES and Rayleigh wave data based on the improved DE algorithm can effectively improve the interpretation accuracy of the single-method inversion and had strong stability and large generalizable ability in near-surface engineering problems.

Originality/value

A joint inversion method of VES and Rayleigh wave data based on improved DE algorithm is proposed, which can improve the accuracy of single-method inversion.

Content available
Book part
Publication date: 22 February 2024

N. Padmaja, Rajalakshmi Subramaniam and Sanjay Mohapatra

Abstract

Details

Big Data Analytics for the Prediction of Tourist Preferences Worldwide
Type: Book
ISBN: 978-1-83549-339-7

Abstract

Details

Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

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