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This article discusses the application of MRP on a microcomputer using the very popular electronic spreadsheet software. The illustration may be more of a managerial exercise than a true real world application, but illustrates the potential of this type of analysis. In fact, in smaller business organisations, on‐going practical planning using MRP could very well be accomplished using these techniques.

This paper presents an analysis of the problem of Assembly Facility Assignment in a Mixed Model Assembly Line. Poisson arrivals and exponential service time distribution have been assumed. On the basis of the analysis presented it is possible to choose a particular facility on economic considerations, further, optimum service rate for such facilities has also been evaluated.

The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains features to help the reader to retrieve relevant literature from MCB University Press' considerable output. Each entry within has been indexed according to author(s) and the Fifth Edition of the SCIMP/SCAMP Thesaurus. The latter thus provides a full subject index to facilitate rapid retrieval. Each article or book is assigned its own unique number and this is used in both the subject and author index. This Volume indexes 29 journals indicating the depth, coverage and expansion of MCB's portfolio.

RARELY has its sense of timing and pragmatic approach to current problems been better employed by the Industrial Society than in organizing a two‐day conference within four days of Britain's entry into the European Economic Community. The aim behind ‘Into Europe—People at Work’ was badly needed. No major policy has been so bedevilled by confusion and uncertainty as our entry, greeted with a fanfare by some and lamented by a dirge from others.

This chapter investigates the determinants of the volatility of spread in the over-the-counter foreign exchange market and examines whether the relationships differ in the crisis periods. We compute the measures for the volatility of liquidity by using bid-ask spread data sampled at a high frequency of five minutes. By examining 11 currencies over a 13-year sample period, we utilize a balanced dynamic panel regression to investigate whether the risk associated with the currencies quoted or trading activity affects the variability of liquidity provision in the FX market and examine whether the crisis periods have any effect. We find that both the level of spread and volatility of spread increases during the crisis periods for the currencies of emerging countries. In addition, we find increases in risks associated with the currencies proxied by realized volatility during the crisis periods. We also show risks associated with the currency are the major determinants of the variability of liquidity and that these relationships strengthen during periods of uncertainty. First, we develop measures to capture the variability of liquidity. Our measures to capture the variability of liquidity are non-parametric and model-free variable. Second, we contribute to the debate of whether variability of liquidity is adverse to market participants by examining what drives the variability of liquidity. Finally, we analyze seven crisis periods, allowing us to document the effect of the crises on determinants of variability of liquidity over time.

This paper aims to propose a novel model to forecast regime switches in a time series to assist decision making.

The authors apply the clustering technique to group the data into five states. Then, a model is proposed to formulate the relationships from in‐sample observations, including regime switch relationships. Afterwards, the model uses the relationships to forecast the regime switches in out‐sample observations.

The study uses daily Taiwan Stock Exchange Capitalization Weighted Stock Index as the forecasting target. Regime switches in in‐sample observations are identified. And a regime switch is successfully forecasted by the proposed model.

The proposed model identifies a regime switch which matches the real event. It implies that the proposed model can be applied to other time series, such as Dow Jones or NASDAQ.

Previous studies contribute to the forecasting of regime switches. The forecasting results are validated with the real event. One of the forecasted regime switches matches the event of Lehman Brothers' declaring of bankruptcy.

This chapter identifies three crisis warning indicators driven from trading in emerging markets’ carry trades, and empirically examines whether these indicators could predict two major financial crises that hit the global financial markets in the last decades — The 1997–1998 Asian crisis and the 2007–2008 global crisis. The probit regression is used to examine the power of the three indicators in forecasting financial crises, using data from eight Asian emerging countries which serve as proxies for emerging markets, independent of the origination of the crisis. I use both fixed effect and random effect estimation to measure crisis impacts. The empirical results show that financial crises could have been predicted. Probit estimation show that carry trade returns can predict a financial crisis, and the estimation results are robust to both panel level and country-level analysis. These three indicators are by no means an exhaustive list of all possible predictors of financial crisis. The literature suggests other fundamental indicators of financial crises such as the current account deficit and foreign debt. However, this chapter cannot fully consider these indicators for lack of data at this point in time. Although financial crisis may be better predicted by the well-known fundamental indicators, the contribution of this chapter is simply that carry trade-related indicators can help in predicting crises.

The purpose of this paper is to examine the joint dynamics of volatility–volume relation in the high-yield (junk) corporate bond market during the 2007–2008 financial crisis.

The author proposes a new empirical model of three-stage equations to better estimate the volume–volatility relation that helps in alleviating three econometrical problems. In Stage 1, the author estimates the fitted values of trading volume using a censored regression model, to alleviate the truncation problems of using Transaction Reporting and Compliance Engine data. In Stage 2, the author calculates the fitted values of bond return volatility using asymmetric Sign-GARCH model, to control for the asymmetric volatility in return series. In Stage 3, the author uses the fitted values of trading volume from the censored regression model (Stage 1) and the fitted values of return volatility from the GARCH model (Stage 2), to better alleviate the endogeneity problems between both variables.

The central finding is that conclusions about the statistical significance and the direction of the volume–volatility relationship in the junk bond market are dependent on the econometric methodology used.

From a practitioner perspective, it is important for professional traders holding positions in fixed income securities in their trading accounts to be aware of their asymmetric time-varying volume–volatility shifting trends. Such knowledge helps traders diversify their positions and manage their portfolios more appropriately.

This paper analyzes the impact of economic downturns on the revenue and expense sides of city financing for the period 2003 to 2009 using a convenience sample of the audited end of year financial reports for thirty midsized US cities. The analysis focuses on whether and how quickly and how extensively revenue and spending directions from past years are altered by recessions. A seven year series of Comprehensive Annual Financial Report (CAFR) data serves to explore whether citiesʼ revenues and spending, especially the traditional property tax and core functions such as public safety and infrastructure withstood the brief 2001 and the persistent 2007 recessions? The findings point to consumption (spending) over stability (revenue minus expense) for the recession of 2007, particularly in 2008 and 2009.

Interrelated conflict and transformation are associated with post World War II U.S. military. Conflicts within the command structure are depicted by military officers in their writings. Transformation, characterised by military sociologists as a process of “civilianisation,” has informed understanding over the past few decades. However, neither the officer‐writers‘ “close‐up” perspective nor, in retrospect, the sociologists’ sanguine formulations effectively interrelate structural transformation and conflicts in command. In this respect, these literatures suggest relevant analogies: officer‐writers reflect existential crisis not unlike many traditional peoples experiencing consequences of externally induced economic change; sociological characterisations of “civilianisation,” like those of “modernisation,” fail to account for adverse and conflictual consequences of such “development”. Both the “crisis in command” and sociological failures to explicate it may be related to political economy's transformation of the military. That is the argument entailed in this article.