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The enduring popular image of James Bond is (in the words of the theatrical trailer for Dr No) ‘the gentleman agent with the licence to kill’. Yet the screen Bond is hardly a hero in the manner of gentlemanly archetypes such as Cary Grant and David Niven (reputedly Ian Fleming’s preferred choice for the role). This chapter will explore how the image of Bond in the films has changed over time both in response to wider social and cultural archetypes of masculinity and due to the different performance styles of the various actors to play the role: Sean Connery, whose rough-hewn Scottishness can be seen as a means of representing the ‘otherness’ of Fleming’s character (‘Bond always knew there was something alien and un-English about himself’); George Lazenby, whose one-off appearance as an emotionally damaged Bond in On Her Majesty’s Secret Service anticipated later portrayals of the character; the parodic variant of Roger Moore; the brooding Byronic hero of Timothy Dalton; the ‘Milk Tray Man’ charm of Pierce Brosnan; and Daniel Craig, whose combination of bull-in-a-china-shop physicality and vulnerable masculinity (literally so in Casino Royale) has by common consent successfully transformed Bond from a cartoon superman into a twenty-first century action hero.

Government organisations, small and medium-sized businesses, education, and the entertainment industries all use multimedia technology to communicate information and ideas across digital, print, catalogue, and advertising mediums. Any message delivered by businesses, whether digital or printed graphics, images, text, movies, or animation, is more likely to be accepted by the target audience. The financial sector is no exception. Multimedia technology refers to activities involving computers, software development, and online media distribution. Professionals and experts in computer or software development use multimedia technology to create a variety of mechanisms including product demos, web pages, news sites, and presentations to attract attention or convey any message to a specific audience. Multimedia technology such as multimedia software, transaction processing, electronic payments, voicemail, and networked communication required banks and the financial sector to adopt new practices for delivering banking services and making the financial system more user-friendly for consumers and the financial industry’s operation. Banks and other financial institutions are compelled to innovate as computer technologies advance to maintain competitiveness. Multimedia technology offers lower occupancy costs with a smaller staff and lower transaction processing expenses. New technologies in the financial sector are replacing traditional methods of operation because multimedia technology makes work simpler, faster, and more effective. The industry is trying to switch to a self-service model through technology by providing the same level of convenience at a lower price.

The authors introduce a new approach to estimate high-dimensional factor-augmented vector autoregressive models (FAVAR) where the loadings are subject to idiosyncratic regime-switching dynamics. Our Bayesian estimation method alleviates computational challenges and makes the estimation of high-dimensional FAVAR with heterogeneous regime-switching straightforward to implement. The authors perform extensive simulation experiments to study the finite sample performance of our estimation method, demonstrating its relevance in high-dimensional settings. Next, the authors illustrate the performance of the proposed framework for studying the impact of credit market disruptions on a large set of macroeconomic variables. The results of this study underline the importance of accounting for non-linearities in factor loadings when evaluating the propagation of aggregate shocks.

The causal relationship between money and income (output) has been an important topic and has been extensively studied. However, those empirical studies are almost entirely on Granger-causality in the conditional mean. Compared to conditional mean, conditional quantiles give a broader picture of an economy in various scenarios. In this paper, we explore whether forecasting conditional quantiles of output growth can be improved using money growth information. We compare the check loss values of quantile forecasts of output growth with and without using past information on money growth, and assess the statistical significance of the loss-differentials. Using U.S. monthly series of real personal income or industrial production for income and output, and M1 or M2 for money, we find that out-of-sample quantile forecasting for output growth is significantly improved by accounting for past money growth information, particularly in tails of the output growth conditional distribution. On the other hand, money–income Granger-causality in the conditional mean is quite weak and unstable. These empirical findings in this paper have not been observed in the money–income literature. The new results of this paper have an important implication on monetary policy, because they imply that the effectiveness of monetary policy has been under-estimated by merely testing Granger-causality in conditional mean. Money does Granger-cause income more strongly than it has been known and therefore information on money growth can (and should) be more utilized in implementing monetary policy.

UNI Global Union’s General Secretary, Philip Jennings, delivered the Movement for the Abolition of War Remembrance Day Lecture at the Imperial War Museum on November 12th 2017. On a day when we remember the millions who died in the First World War and subsequent wars, Jennings called for renewed collective action to tackle the threats to peace. During the lecture, Jennings explored the ties that have bound the trade union movement to the peace movement over the last century or more and its relevance today to the struggle for social justice.