Search results

1 – 10 of over 6000
To view the access options for this content please click here
Book part
Publication date: 1 November 2011

Olivier de La Grandville

We introduce a formula for the optimal savings rate in an economy driven by an investment policy reflecting competitive equilibrium. The reasonable numbers generated by…

Abstract

We introduce a formula for the optimal savings rate in an economy driven by an investment policy reflecting competitive equilibrium. The reasonable numbers generated by the formula should be of help not only to assess our present situation but also to prepare our future. Moreover, this chapter provides two theorems correcting a widely held belief in economic growth theory, namely that a steady state defined by income per person growing at the labor-augmenting rate can be asymptotically reached only if technical progress is labor-augmenting. We finally show that the magnitudes of the optimal savings rates are highly robust to very different, S-shaped evolutions of population and technology. The chapter closes with a daring conjecture.

Details

Economic Growth and Development
Type: Book
ISBN: 978-1-78052-397-2

Keywords

To view the access options for this content please click here
Article
Publication date: 9 November 2015

Darong Dai

The purpose of this paper is to study the problem of optimal Ramsey taxation in a finite-planning-horizon, representative-agent endogenous growth model including…

Abstract

Purpose

The purpose of this paper is to study the problem of optimal Ramsey taxation in a finite-planning-horizon, representative-agent endogenous growth model including government expenditures as a productive input in capital formation and also with hidden actions.

Design/methodology/approach

Technically, Malliavin calculus and forward integrals are naturally introduced into the macroeconomic theory when economic agents are faced with different information structures arising from a non-Markovian environment.

Findings

The major result shows that the well-known Judd-Chamley Theorem holds almost surely if the depreciation rate is strictly positive, otherwise Judd-Chamley Theorem only holds for a knife-edge case or on a Lebesgue measure-zero set when the physical capital is completely sustainable.

Originality/value

The author believes that the approach developed as well as the major result established is new and relevant.

Details

Journal of Economic Studies, vol. 42 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

To view the access options for this content please click here
Article
Publication date: 5 October 2015

Matthias Ruefenacht, Tobias Schlager, Peter Maas and Pekka Puustinen

The purpose of this paper is to delineate the impact of social context and savings attitudes on consumers’ self-reported long-term savings and discuss how these drivers…

Abstract

Purpose

The purpose of this paper is to delineate the impact of social context and savings attitudes on consumers’ self-reported long-term savings and discuss how these drivers can be influenced to increase an individual’s savings rate.

Design/methodology/approach

An online survey was conducted among 993 German savers. A structural equation model quantified the influence of the social context and an individual’s attitudes on long-term savings behavior, as stated by consumers.

Findings

Both social context constructs – subjective norms and relationship quality – exert a significant influence on the savings attitudes of perceived anxiety and perceived importance, which in turn significantly affect long-term savings. Furthermore, the results of a mediation analysis indicated that the social context only has an indirect effect on long-term savings.

Research limitations/implications

The study was conducted in Germany only. Therefore, the results may not apply across cultures. In addition, the salient belief structures, access channels used, and savings product categories were not part of this study.

Practical implications

The results showed that financial institutions can influence an individual’s attitudes toward long-term savings by providing a satisfying and trusted relationship. The positive effect on savings attitudes will translate to an increased long-term savings rate. According to the analysis, financial service providers can only have an indirect effect on long-term savings behavior.

Originality/value

This paper delineates the impact of the social environment on long-term savings. This relationship has not been investigated in previous research. In addition, the influence of the social context within the attitudes-behavior framework for long-term savings is expounded.

Details

International Journal of Bank Marketing, vol. 33 no. 7
Type: Research Article
ISSN: 0265-2323

Keywords

To view the access options for this content please click here

Abstract

Details

Optimal Growth Economics: An Investigation of the Contemporary Issues and the Prospect for Sustainable Growth
Type: Book
ISBN: 978-0-44450-860-7

To view the access options for this content please click here
Book part
Publication date: 1 November 2016

Abstract

Details

Governing for the Future: Designing Democratic Institutions for a Better Tomorrow
Type: Book
ISBN: 978-1-78635-056-5

To view the access options for this content please click here
Article
Publication date: 1 September 1992

Randolph M. Russell and Martha C. Cooper

Addresses a number of issues relating to determining whetherproducts should be ordered independently and therefore shipped as asingle‐product order, or co‐ordinated and…

Abstract

Addresses a number of issues relating to determining whether products should be ordered independently and therefore shipped as a single‐product order, or co‐ordinated and shipped as a group, or multiproduct, order from a single source. Factors which might influence the decision include the level or volume of demand, the distribution of demand across products, the weight of items and the attractiveness of the quantity discount offered. Uses an optimal inventory‐theoretic model, that incorporates transport weight breaks and quantity discounts, to assess when product orders should be combined and what products should be ordered separately. The effects of these decisions on the order interval, the number of order groupings, the proportion of items ordered independently, the proportion of attractive discounts forgone in favour of consolidation, and the relative cost savings, are examined using an extensive set of simulated data that are based on a firm in the automobile industry supply chain.

Details

International Journal of Physical Distribution & Logistics Management, vol. 22 no. 9
Type: Research Article
ISSN: 0960-0035

Keywords

To view the access options for this content please click here
Article
Publication date: 31 July 2009

Howell H. Zee

This paper aims to investigate whether the concept of the golden rule of capital accumulation is an applicable normative guidepost for a market economy even in the absence…

Abstract

Purpose

This paper aims to investigate whether the concept of the golden rule of capital accumulation is an applicable normative guidepost for a market economy even in the absence of the distortions usually associated with income and consumption taxes.

Design/methodology/approach

The paper uses a simple two‐period overlapping generations model with productive public and private capital.

Findings

As long as the government is subject to some instrument limitation that constrains its ability to effect non‐distortive optimal inter‐generational income redistributions, the market optimum for capital accumulation would generally deviate from the golden rule towards either side of the rule.

Originality/value

The paper provides a transparent characterization of the nature of the optimal deviation from the golden rule in terms of easily interpretable consumption and production parameters.

Details

Journal of Economic Studies, vol. 36 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

To view the access options for this content please click here
Article
Publication date: 1 October 1999

Charles G. Petersen

Order picking, the activity by which a number of goods are retrieved from a warehousing system to satisfy a number of customer orders, is an essential link in the supply…

Abstract

Order picking, the activity by which a number of goods are retrieved from a warehousing system to satisfy a number of customer orders, is an essential link in the supply chain and is the major cost component of warehousing. The critical issue is to simultaneously reduce the cost and increase the speed of the order picking activity. The main objectives of this paper are: evaluate various routing heuristics and an optimal routine in a volume‐based and random storage environment; compare the performance of volume‐based storage to random storage; and examine the impact of travel speed and picking rates on routing and storage policy performance. The experimental results show the solution gap between routing heuristics and optimal routing is highly dependent on the travel speed and picking rate, the storage policy, and the size of the pick list. In addition, volume‐based storage produced significant savings over random storage, but again these savings are dependent on the travel speed and picking rate.

Details

International Journal of Operations & Production Management, vol. 19 no. 10
Type: Research Article
ISSN: 0144-3577

Keywords

To view the access options for this content please click here
Article
Publication date: 1 February 1993

Richard Dobbins

Sees the objective of teaching financial management to be to helpmanagers and potential managers to make sensible investment andfinancing decisions. Acknowledges that…

Abstract

Sees the objective of teaching financial management to be to help managers and potential managers to make sensible investment and financing decisions. Acknowledges that financial theory teaches that investment and financing decisions should be based on cash flow and risk. Provides information on payback period; return on capital employed, earnings per share effect, working capital, profit planning, standard costing, financial statement planning and ratio analysis. Seeks to combine the practical rules of thumb of the traditionalists with the ideas of the financial theorists to form a balanced approach to practical financial management for MBA students, financial managers and undergraduates.

Details

Management Decision, vol. 31 no. 2
Type: Research Article
ISSN: 0025-1747

Keywords

To view the access options for this content please click here
Article
Publication date: 2 September 2019

Uttam Kumar Khedlekar and Priyanka Singh

For smooth running of business affairs, there needs to be a coordination among manufacturer, collector and retailer in forward and reverse supply chain. This paper handles…

Abstract

Purpose

For smooth running of business affairs, there needs to be a coordination among manufacturer, collector and retailer in forward and reverse supply chain. This paper handles the problem of making pricing, collecting and percentage sharing decisions in a closed-loop supply chain. The purpose of this paper is to examine the effect of responsibility sharing percentage on the profits of a manufacturer, a retailer and a collector. The paper further aims to understand the mutual interactions among decision variables and profit functions. It also determines the optimal selling price, optimal time, wholesale price, sharing percentage and optimal return rate in such a manner that the profit function is maximized.

Design/methodology/approach

The authors presented a three-echelon model consisting of a manufacturer, a retailer and a collector in the closed-loop supply chain and optimized the profits of each supply chain member. The authors introduced SRR models for the remanufacturing by providing some percentage of physical and financial support to the collector. Optimization techniques have been applied to obtain optimal solutions. Numerical examples and graphical representations of the optimal solutions are provided to illustrate the model.

Findings

This study stresses on profitable value retrieval from returned products, and it discusses how responsibility sharing can improve profitability and reduce the workload of an individual. In total, three main results are found. First, sharing and coordination among chain members can improve collector’s profit. Second, supply chain performance may also improve over time. Third, the profit of each member of the supply chain increases with an increase in sharing percentage up to a certain limit. So, the manufacturer can share the responsibility of the collector under a fixed limit.

Research limitations/implications

The main limitation of this model is that there is no difference between manufactured and remanufactured products. There are many correlated issues that need to be further investigated. The future study in this direction may include multi-retailer, stochastic demand patterns.

Practical implications

It is directly utilized by supply chain industries in which coordination among chain members is still needed to maximize profits. This information enables the manufacturer to assist the collector financially or physically for the proper management of the three-layer supply chain. The present work will form a guideline to choose the appropriate parameter(s) and mathematical technique(s) in different situations for remanufacturable products.

Social implications

From the management point of view, this study delivers the strongest result to remanufacturing companies and for whom effective and efficient coordination among chain members is vital to the overall performance of the supply chain.

Originality/value

There are very few studies that consider the remanufacturing of used products under a fixed time period. The authors considered selling price-sensitive and time-dependent exponentially declining demand. This model is developed by considering all possible help to a collector from manufacturer to collect used products from consumers. This research complements past research by showing coordination among supply chain members within a fixed time horizon.

Details

Journal of Advances in Management Research, vol. 16 no. 5
Type: Research Article
ISSN: 0972-7981

Keywords

1 – 10 of over 6000