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The purpose of this paper is to report a research on application of ORESTE (Organization, Rangement Et Synthese De Donnees Relationnelles, when translated into English means organization, storage and summarizing data relational) for agile concept selection.

The concept selection problem has been formulated as a multi-criteria decision-making (MCDM) problem to select the best concept design of the rotary switch component. ORESTE has been used as solution methodology. The selected concept design alternatives were subjected to implementation.

As ORESTE is a preferential outranking method, it uses ordinal data, enabling decision makers in situations where practically sufficient data are not available. This paper uses ORESTE for agile concept selection where gathering sufficient data is difficult. Also, the results generated by ORESTE have been compared with technique for order performance by similarity to an ideal solution.

In the present study, ORESTE has been applied for concept selection of rotary switch component. In future, more number of studies need to be conducted to select more concept design alternatives where getting prior information is difficult or consumes more time to ensure practical effectiveness of ORESTE.

The application of ORESTE for concept design selection enabled the practitioners to select the best concept with ordinal data and also enabled scope for indifferentiability and incomparableness of any two alternatives in the final outranking.

Formulation of MCDM problem for agile concept selection and solution generation using ORESTE is the original contribution of the authors.

The purpose of this paper is to analyse the long-term nature of the interrelationship between interest rate and exchange rate.

By employing Mexican data, the authors estimate a non-linear autoregressive distributed lags (NARDL) model to investigate the nature of the changes and the interaction between interest rate and exchange rate in response to monetary authorities’ actions.

The results show that, contrary to simplistic predictions, the real exchange rate causes the real interest rate in an asymmetric way. The bounds testing approach of the NARDL models suggests the presence of co-integration among the variables and the exchange rate variations appear to have significant long-run effects on the interest rate. Most importantly, these effects are asymmetric and positive variations in the exchange rate have a lower impact on the interest rate. It is also interesting to report that the reverse is not true: the interest rate in the long-run exerts no statistical significant impact on the exchange rate.

The asymmetric long-term relationship between real exchange rate and real interest rate is evidence of why monetary authorities are reluctant to free float exchange rate. In Mexico, as in most developing countries, monetary policy strongly responds to exchange rate movements because these have relevant effects on commercial trade. Moreover, in dollarized economies these effects are stronger because of pass-through impacts to inflation, income distribution and balance-sheet equilibrium (the well-known “original sin”).

Under inflation targeting and flexible exchange rate regime, despite central banks pursue the control of short-term interest rate, in the long-run one could observe that it is the exchange rate that influences the interest rate, and that this reverse causality is stronger in emerging economies. This paper contributes by analysing the asymmetric relationship between the variables.

This chapter intends to make an extended periodization of economic discussions that have taken place in Latin America throughout its history. The task is ambitious; we begin, however, with the periodization elaborated by Oreste Popescu, which we then expand and modify. As educators, we still have to work on the training of Latin American economists, due to the lack of knowledge they have not only about the region as a whole, but also of the economic debates that took place within it. This work is a first approximation and provocation aimed to jumpstart a discussion on these issues.

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.

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.

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.

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.

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.

The purpose of this paper is to investigate the relationship between the leadership style of a chief audit executive (CAE) and the perceived effectiveness of the internal auditing (IA) function that he/she leads. Perceived IA effectiveness is based on identified attributes in the literature influencing IA effectiveness. The aim of this paper is thus to expand the IA effectiveness debate by adding individual differences in CAEs’ leadership styles as a research focus.

A quantitative approach is followed. A survey was conducted on a sample of 58 IA students enrolled in a master’s degree programme at a South African university; all students hold senior positions in IA.

The study confirms that the CAE leadership style significantly influences the identified attributes of perceived IA effectiveness. It further shows that the traditional conceptualisation of leadership (as transformational, transactional and/or laissez-faire) might not be appropriate for or compatible with leaders of professional teams in a regulated environment.

Practically, the study identifies and explores attributes influencing IA effectiveness that are within the purview of the CAE’s leadership style and within his/her ability to influence. This information could (re)direct leadership development training programmes presented in industry and by the Institute of Internal Auditors (IIA), and at organisational level, it could inform appointment and retention and succession practices for heads of and senior management in IA.

CAEs are cautioned about the limitations imposed by laissez-faire leadership on IA effectiveness. They should strive to become both transformative and transactional leaders as it has a significant influence on the effectiveness of their IA functions, and by being more effective, they can demonstrate the value proposition of IA. Organisations need to create the environment in which CAEs can act as transformational and transactional leaders. The IIA, as the pre-eminent professional body, could become involved in developing leadership skills of its members. The IIA could provide guidance on leadership styles for CAEs and could also offer formal training initiatives to internal auditors on skills needed to lead IA teams.

This paper may open a new research area in IA effectiveness by focussing on the role and leadership qualities of the CAE.

To develop a multi‐attribute decision making model for evaluating and selecting among logistic information technologies.

First a multi‐attribute decision making model for logistic information technology evaluation and selection consisting of 4 main and 11 sub criteria is constructed, then a hierarchical fuzzy TOPSIS method is developed to solve the complex selection problem with vague and linguistic data. Sensitivity analysis is presented.

Reviews the literature and provides a structured hierarchical model for logistic information technology evaluation and selection based on the premise that the logistic information technology evaluation and selection problem can be viewed as a product of tangible benefits, intangible benefits, policy issues and resources. Defines tangible benefits as cost savings, increased revenue, and return on investment; intangible benefits as customer satisfaction, quality of information, multiple uses of information, and setting tone for future business; policy issues as risk and necessity level; resources as costs and completion time. Presents a methodology that is developed for the complex, uncertain and vague characteristics of the problem.

Comparisons with other multi‐attribute decision making techniques such as AHP, ELECTRE, PROMETHEE and ORESTE under fuzzy conditions can be done for further research.

This article is a very useful source of information both for logistic managers and stakeholders in making decisions about logistic information technology investments.

This paper addresses the logistic information technology evaluation and selection criteria for practitioners and proposes a new multi‐attribute decision making methodology, hierarchical fuzzy TOPSIS, for the problem.

The Hispanic American Scholastics look at the price doctrine from a triple point of view: as an economic philosophy, as an instrument for regulating the market, and as an analytic basis[l].

The relationships between tourist resorts and transnational crime are rarely analyzed systematically. This paper begins to fill this gap by examining how organized crime groups and individuals linked to them can take advantage of tourist resorts to commit crimes.

Risk-sharing is a crucial issue in order to evaluate the performance of a monetary union. By implementing conventional econometric techniques, this paper intends to estimate the degree of risk-sharing through the cross-ownership of assets within 11 European countries in the period 1971–2014. We show that risk-sharing has been increasing after the launch of the euro due to increased cross-ownership of assets. Nevertheless, we also show that despite the extreme needs for adjustment mechanisms as a reaction to asymmetric shocks in the EMU during the crises, the estimated market risk-sharing mechanism seems to have remained marginal in this period. We also show that the degree of asymmetry (potential benefits from risk-sharing) has declined with the start of the EMU, but it has sharply increased during the crises period. This implies that EMU countries have needed good functioning risk-sharing mechanisms during the crisis, while in this period their estimated performance does not seem to have improved. We interpret these results as the evidence of a missing element of the EMU that forced governments to intervene by means of fiscal policy to tackle the imbalances deriving from the financial crisis. Therefore, we conclude that the weakness in the risk-sharing has been one of the channels that allowed the global financial crisis to mutate in a sovereign debt crisis in the EMU.

Purpose: This chapter analyzes the policies of immigration control implemented in Mexico in 2014 to deter the migration of Central Americans to the United States, and their impact on Central American youth migrants.

Methods: This chapter draws from three pools of data: (1) participant observation and interviews conducted with minor migrants in Mexico from 2015 to 2019; (2) Mexican and US government data on detentions and deportations of Central American minor migrants; and (3) publicly available information on Mexican and Guatemalan government programs and media campaigns targeted at addressing the migration of Central American minor migrants.

Findings: This chapter posits that the policies of migrant detention and deportation implemented in Mexico in 2014 turned the entire country into a borderland for Central Americans. These policies expanded the areas of migrant surveillance, detention, and deportation beyond Mexico’s traditional border regions, which, in turn, made youth migrants’ journeys through Mexico more precarious and prone to violence.

Research implications: This chapter examines the impact of immigration and border control policies implemented in Mexico and anti-immigration propaganda on Central American youth, and it demonstrates how Mexico has been converted into an expanded US border territory in an attempt to prevent migrants from reaching the United States’ physical borderland.

Value: This chapter analyzes the impact of US-led detention and deportation policies aimed at Central American migrants throughout Mexico, rather than just in the traditional border regions. These relatively novel policies are at the forefront of immigration control and warrant special attention.