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Article
Publication date: 28 March 2023

Salvatore Capasso, Oreste Napolitano and Ana Laura Viveros Jiménez

The idea of this study is to provide a solid Financial Condition Index (FCI) that allows the monetary transmission policy to be monitored in a country which in recent decades has…

Abstract

Purpose

The idea of this study is to provide a solid Financial Condition Index (FCI) that allows the monetary transmission policy to be monitored in a country which in recent decades has suffered from major financial and monetary crises.

Design/methodology/approach

The authors construct three FCIs for Mexico to analyse the role of financial asset prices in formulating monetary policy under an inflation-targeting regime. Using monthly data from 1995 to 2017, the authors estimate FCIs with two different methodologies and build the index by taking into account the mechanism of transmission of monetary policy and incorporating the most relevant financial variables.

Findings

This study’s results show that, likewise for developing countries as Mexico, an FCI could be a useful tool for managing monetary policy in reducing macroeconomic fluctuations.

Originality/value

Apart from building a predictor of possible financial stress, the authors construct an FCI for a central bank that pursues inflation targeting and to analyse the role of financial asset prices in formulating monetary policy.

Highlights

  1. We construct three FCIs for Mexico to analyse the role of financial asset prices in formulating monetary policy under an inflation-targeting regime.

  2. The FCIs are based on (1) a vector autoregression model (VAR); (2) an autoregressive distributed lag model (ARDL) and (3) a factor-augmented vector autoregression model (FAVAR).

  3. FCI could become a new target for monetary policy within a hybrid inflation-targeting framework.

  4. FCI could be a good tool for managing monetary policy in developing countries with a low-inflation environment.

We construct three FCIs for Mexico to analyse the role of financial asset prices in formulating monetary policy under an inflation-targeting regime.

The FCIs are based on (1) a vector autoregression model (VAR); (2) an autoregressive distributed lag model (ARDL) and (3) a factor-augmented vector autoregression model (FAVAR).

FCI could become a new target for monetary policy within a hybrid inflation-targeting framework.

FCI could be a good tool for managing monetary policy in developing countries with a low-inflation environment.

Details

Journal of Economic Studies, vol. 50 no. 8
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 16 December 2022

Arunodaya Raj Mishra, Pratibha Rani, Abhijit Saha, Dragan Pamucar and Ibrahim M. Hezam

Reverse logistics (RL) is a type of supply chain management that moves goods from the end customer to the original manufacturer for reuse, remanufacturing and disposal purposes…

Abstract

Purpose

Reverse logistics (RL) is a type of supply chain management that moves goods from the end customer to the original manufacturer for reuse, remanufacturing and disposal purposes. Owing to growing environmental legislations and the development of new technologies in marketing, RL has attracted more significance among experts and academicians. Outsourcing RL practices to third-party reverse logistics provider (3PRLP) has been identified as one of the most important management strategies due to complexity of RL operations and the lack of available resource. Current sustainability trends have made 3PRLP assessment and selection process more complex. In order to select the 3PRLP, the existence of several aspects of sustainability motivates the experts to establish a new multi-criteria decision analysis (MCDA) approach.

Design/methodology/approach

With the growing complexity and high uncertainty of decision environments, the preference values of 3PRLPs are not always expressed with real numbers. As the generalized version of fuzzy set, intuitionistic fuzzy set and Fermatean fuzzy set, the theory of q-rung orthopair fuzzy set (q-ROFS) is used to permit decision experts (DEs) to their assessments in a larger space and to better cope with uncertain information. Given that the combined compromise solution (CoCoSo) is an innovative MCDA approach with higher degree of stability and reliability than several existing methods.

Findings

To exhibit the potentiality and applicability of the presented framework, a case study of S3PRLPs assessment is taken from q-rung orthopair fuzzy perspective. The assessment process consists of three sustainability aspects namely economic, environment and social dimensions related with a total of 14 criteria. Further, sensitivity and comparative analyses are made to display the solidity and strength of the presented approach. The results of this study approve that the presented methodology is more stable and efficient in comparison with other methods.

Originality/value

Thus, the objective of the study is to develop a hybrid decision-making methodology by combining CoCoSo method and discrimination measure with q-ROFS for selecting an appropriate sustainable 3PRLP (S3PRLP) candidate under uncertain environment. In the proposed method, a novel procedure is proposed to obtain the weights of DEs within q-ROFS context. To calculate the criteria weights, a new formula is presented based on discrimination measure, which provides more realistic weights. In this respect, a new discrimination measure is proposed for q-ROFSs.

Article
Publication date: 13 March 2023

Francesca Lanz

This paper contributes to this special issue on the ethics and aesthetics of adaptive reuse with a reflection on the specific case of the reuse of those sites and buildings that…

Abstract

Purpose

This paper contributes to this special issue on the ethics and aesthetics of adaptive reuse with a reflection on the specific case of the reuse of those sites and buildings that can be regarded as “difficult”, “uncomfortable”, or “neglected” heritage (MacDonald, 2009; Logan and Keir, 2009; Pendlebury et al., 2018; Lanz, 2021). By doing so it is the author's intention to add to the most recent research-driven and theory-oriented strand of the contemporary architectural debate on adaptive reuse (Lanz and Pendlebury, 2022). They also intend to encourage increased research engagement within such a debate, both across disciplines and with methods and approaches that may be able to bring in greater critical consideration of the more-than-architectural aspects involved in adaptive reuse practices.

Design/methodology/approach

Building equally on a comprehensive literature review on the subject and extensive field work, the paper works through one paradigmatic example – the San Girolamo mental asylum in Volterra, Italy – and combines on-site observation, field notes, qualitative interviews and archival research with theory-driven reflections to discuss the ramifications of adaptive reuse processes in place-based memory and heritage practices.

Findings

The case of the former mental asylum San Girolamo in Volterra, today abandoned and decaying on the landscape, is discussed via the metaphor of the building as palimpsest to explore the significance of this built heritage in both its materiality and meanings. The San Girolamo asylum demonstrates the value, complexity and potential of this heritage site, and other alike, to act as a powerful place which connects the past and present that might serve as a platform to promote productive discourses about contemporary sensible topics, ethics of care and human rights. Drawing on these observations, the paper concludes by expanding on how the case of the San Girolamo former asylum both showcases and advocates the need for developing more creative, explorative, trans-disciplinary and collaborative approaches and methodologies to the study and implementation of adaptive reuse projects for these site “beyond intervention”.

Originality/value

This paper draws on and contributes to the more recent research-driven and theory-oriented corpus of studies focussing on adaptive reuse.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. 14 no. 1
Type: Research Article
ISSN: 2044-1266

Keywords

Article
Publication date: 11 July 2023

Khadija Echefaj, Abdelkabir Charkaoui, Anass Cherrafi, Jose Arturo Garza-Reyes, Syed Abdul Rehman Khan and Abla Chaouni Benabdellah

Selecting the optimal supplier is a challenging managerial decision that involves several dimensions that vary over time. Despite the considerable attention devoted to this issue…

Abstract

Purpose

Selecting the optimal supplier is a challenging managerial decision that involves several dimensions that vary over time. Despite the considerable attention devoted to this issue, knowledge is required to be updated and analyzed in this field. This paper reveals new opportunities to advance supplier selection (SS) research from a multidimensional perspective. Moreover, this study aims to formalise SS knowledge to enable the appropriate selection of sustainable, resilient and circular criteria.

Design/methodology/approach

This study is developed in two stages: first, a systematic literature review is conducted to select relevant papers. Descriptive and thematic analyses are employed to analyze criteria, solving approaches and case studies. Second, a criterion knowledge-based framework is developed and validated by experts to be implemented as ontology using Protégé software.

Findings

Evaluating the viability of suppliers need further studies to integrate other criteria and to align SS objectives with research advancement. Artificial intelligence tools are needed to revolutionize and optimize the traditional techniques used to solve this problem. Literature lucks frameworks for specific sectors. The proposed ontology provides a consistent criteria knowledge base.

Practical implications

For academics, the results of this study highlight opportunities to improve the viable SS process. From a managerial perspective, the proposed ontology can assist managers in selecting the appropriate criteria. Future works can enrich the proposed ontology and integrate this knowledge base into an information system.

Originality/value

This study contributes to promoting knowledge about viable SS. Capitalizing the knowledge base of criteria in a computer-interpretable manner supports the digitalization of this critical decision.

Details

Management of Environmental Quality: An International Journal, vol. 34 no. 5
Type: Research Article
ISSN: 1477-7835

Keywords

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