The paper analyses the challenges of globalization for exchange rate and monetary policy.
The paper analyses the challenges of globalization for exchange rate and monetary policy.
It first deals with the implications of globalization for the choice of an appropriate exchange rate regime. Then it discusses different strategic aspects of monetary policy in the light of globalization. Finally, it examines the effect of globalization on inflation and the implications of this for the focus on monetary policy.
The main challenge of globalization for exchange rate policy refers to the choice of an appropriate exchange rate regime. Exchange rate policy is constrained by the financial instability tendency effect of globalization insofar as intermediate exchange rate regimes tend to be very unstable. However, globalization may also create the desire to change the focus of monetary policy. Globalization is sometimes argued to reduce inflationary pressures and therefore to “ease” the job of central banks. However, there are caveats with this conclusion or arguments that are discussed in this paper.
The paper gives an innovative overview of the various challenges of globalization for monetary policy.
Notes that most of the reforms in Eastern European countries have been piecemeal and have not constituted a comprehensive programme. Describes what a comprehensive programme consists of, why a J‐curve in output and employment arises and what consequences it has. Discusses the possibilities and limitations of external help to avoid a structural extension of this J‐curve problem. Notes that a comprehensive transformation programme includes institutional innovations as well as monetary disinflation policy, which produces recessionary J‐curve‐like output and employment costs. Also that effects of anticipatory recessions, based on anticipated future expenditures of western countries for rebuilding eastern economies (or for preventing economic decline and political disorder), may arise.
The pursuit of market share and corporate growth in a competitive retail environment is expensive. The pressures of maintaining growth may place a considerable strain upon both human and financial resources, and former stars may fall from grace almost overnight. The rise and fall of Coop AG, Germany′s largest consumer co‐operative, are examined. In January 1988 Coop AG was the fourth largest retailer in Germany, with group annual sales of around £4 billion. In January 1991 the Coop AG no longer exists – following a financial scandal which culminated in the break‐up and takeover of the group by various competitors.
This paper presents an outline of models of information seeking and other aspects of information behaviour, showing the relationship between communication and information behaviour in general with information seeking and information searching in information retrieval systems. It is suggested that these models address issues at various levels of information behaviour and that they can be related by envisaging a ‘nesting’ of models. It is also suggested that, within both information seeking research and information searching research, alternative models address similar issues in related ways and that the models are complementary rather than conflicting. Finally, an alternative, problem‐solving model is presented, which, it is suggested, provides a basis for relating the models in appropriate research strategies.
Purpose – The aim of this research was to test whether the motivations of self-enhancement and self-verification act independently and simultaneously, specifically in the…
Purpose – The aim of this research was to test whether the motivations of self-enhancement and self-verification act independently and simultaneously, specifically in the context of the impostor phenomenon.
Design/methodology/approach – Using both self-report measures and salivary cortisol levels, I conducted a 2×2 experiment (N=106) in which status (high or low) was crossed with competition outcome (win or lose). The “low-status winner” condition served as a simulation of the impostor phenomenon.
Findings – Winners reported greater positive affect and less negative affect, indicating self-enhancement, but salivary cortisol levels were higher in participants whose status was disconsonant with the competition outcome (high-status losers and low-status winners), reflecting self-verification.
Research limitations/implications – A potential limitation was the omission of nicotine use as a control variable.
Practical implications – Results illuminate the dual public and private nature of the impostor phenomenon, in which normative expressions of happiness overlie deeper feelings of anxiety. A better understanding would benefit educators, employers, counselors, and therapists who work with high-achieving women and minorities as well as the women and minorities they serve.
Social implications – Findings suggest that efforts should be made to bolster the confidence of promising young women and minorities, with the understanding that, despite high levels of achievement, self-confidence and a sense of deservedness may be lacking.
Originality/value – Methodological advancements included the first laboratory simulation of the impostor phenomenon and the use of both self-report and physiological measures of responses to status situations. This was the first study capable of observing the motivations to self-enhance and self-verify simultaneously and independently of one another.
In terms of continuum mechanics a twin is represented by the sudden appearance of a shear eigenstrain state in a distinct region. The corresponding elastic strain energy…
In terms of continuum mechanics a twin is represented by the sudden appearance of a shear eigenstrain state in a distinct region. The corresponding elastic strain energy, the interface energy and the energy dissipated due to the irreversible character of the deformation process are investigated. If the total amount of these energy terms, spent by the twinning process, can be provided by the interaction energy of an external and/or internal stress state with respect to the twin shear eigenstrain, then either a deformation twin band or a twin nucleus may appear. Realistic estimations of the dimensions of deformation twins can be presented. This energetic interpretation of twinning is experimentally demonstrated for intermetallic TiAl.
Based on a short analysis of the underlying ideas of state and administrative reform, conceptual schemes of self‐management as instruments for public‐sector reforms are…
Based on a short analysis of the underlying ideas of state and administrative reform, conceptual schemes of self‐management as instruments for public‐sector reforms are analysed. If self‐management is to become part of organisational innovation, decision‐makers will need to be well‐informed about its capacity to improve organisational effectiveness and efficiency. Yet, self‐management research is hampered by a lack of conceptual clarity and by an analysis of its functions in different organisational settings. Its application proves to be insignificant whenever underlying assumptions are not fully applicable.
Das Feld Die Feldforschung als Teil der empirischen Sozial‐forschung geht vom Begriff des “Feldes” aus, einem abgegrenzten Datenreservoir, zu dem sich der Forscher direkten oder indirekten Zugang verschaffen kann (NOWOTNY und KNORR 1975). Wesentlich für die Feldforschung ist die Tatsache, dass die empirischen Untersuchungen nicht in einer Laborsituation sondern in situ durchgeführt werden (WEIDMANN 1971) und eine Kontrolle über die Variablen nicht oder nur in beschränktem Umfang (beim Feldexperiment) möglich ist. Da selbst bei einem äusserst eingeschränkten Forschungsgegen‐stand die Fülle aller erfassbaren Daten unüberseh‐bar würde, ist es notwendig, das Feld vor Untersuchungsbeginn abzugrenzen, d.h. Hypothesen über die geographische, ethnographische, zeitliche und soziologische Begrenzung und eventuell auch über vorhandene Strukturen und ihre Dynamik zu bilden, die mit den Methoden der Feldforschung bestätigt oder falsifiziert werden. Feldforschung unterliegt damit auch den Regeln der Hypothesenbildung in den induktiv vorgehenden empirischen Wissenschaften, wogegen nicht spricht, dass Feldforschung, welche überwiegend qualitative Ergebnisse liefert, selbst wiederum für die Hypothesenbildung und die Formulierung von Fragestellungen auf einer nächsten Stufe der Feldforschung verwendet wird, die unter Umständen eher quantifizierbare Ergebnisse bringt. Das Feld ist die komplexe Wirklichkeit der sozialen Verhaltensweisen und Prozesse, die in ihre natürlichen Umweltbedingungen eingebettet sind und in zum Teil höchst komplizierten Interaktionsverhältnissen stehen. Den Feldbegriff gibt es in anderer Form in den verschiedensten Wissenschaftsbereichen, insbe‐sondere in der auf LEWIN zurückgehenden Gestalt Psychologie, nach der das Verhalten eines Lebewesens durch die Bedingungen des Feldes oder Lebensraumes, in dem es erfolgt, bestimmt wird. Das Verhalten ist somit die Funktion eines Feldes, das diese Person umschliesst und miteinbezieht (LEWIN 1951). Auch in den Sprachwissenschaften wird der Begriff des Feldes als ein System definiert, in dem ein Wort oder eine grössere sprachliche Einheit einen bestimmten Platz hat und aus dem heraus die Bedeutung des Wortes oder dieser sprachlichen Einheit erarbeitet werden kann (GECKELER 1971). Allen wissenschaftlichen Feldbegriffen ist gleich, dass es sich um einen Bereich von Daten und ihre dynamische Verknüpfung untereinander handelt, deren Struktur mit wissenschaftlichen Methoden herausge‐arbeitet und nach Möglichkeit sogar operational gemacht werden kann.
This paper examines the effects of virtual advertising in a sports broadcast setting. We analyse the conspicuousness of virtual advertising and match the results with…
This paper examines the effects of virtual advertising in a sports broadcast setting. We analyse the conspicuousness of virtual advertising and match the results with explanatory variables like brand awareness, duration of exposure and frequency of exposure. Furthermore, we measure the role of attitudes towards advertising in general and its impact on attitudes towards virtual advertising of the respondents. Our results indicate that most respondents recognise virtual advertising as such. Advertising effectiveness is driven to a large degree by the frequency of exposure. A positive attitude towards advertising in general leads to a positive attitude towards virtual advertising of the participants.
The purpose of this paper is to present knowledge as an important diversity dimension in globally operating companies and to illustrate how companies with corporate…
The purpose of this paper is to present knowledge as an important diversity dimension in globally operating companies and to illustrate how companies with corporate universities (CUs) proceed in order to achieve knowledge inclusion.
A model is developed regarding the management of knowledge diversity methodologically based on the grounded theory approach and examples in existing CUs are given.
Different diversity learning approaches in corporate university programmes are explained and integrated in a model. The paper recognises the need to more actively manage knowledge diversity in companies.
The paper gives advice to companies on how to better manage their diversity of knowledge and knowledge bearers for strategic learning purposes. The paper is a first step in the academic discussion of knowledge as a diversity dimension.
Knowledge is defined as a diversity dimension by scientists but has not been discussed in depth so far. The paper distinguishes between knowledge diversity and inclusion and shows in which way companies can proceed in order to profit from the diversity in learning environments.