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This chapter investigates the predictability of the European monetary policy through the eyes of the professional forecasters from a large investment bank. The analysis is based on forward-looking Actual and Perceived Taylor Rules for the European Central Bank which are estimated in real-time using a newly constructed database for the period April 2000–November 2009. The former policy rule is based on the actual refi rate set by the Governing Council, while the latter is estimated for the bank’s economists using their main point forecast for the upcoming refi rate decision as a dependent variable. The empirical evidence shows that the pattern of the refi rate is broadly well predicted by the professional forecasters even though the latter have foreseen more accurately the increases rather than the policy rate cuts. Second, the results point to an increasing responsiveness of the ECB to macroeconomic fundamentals along the forecast horizon. Third, the rolling window regressions suggest that the estimated coefficients have changed after the bankruptcy of Lehman Brothers in October 2008; the ECB has responded less strongly to macroeconomic fundamentals and the degree of policy inertia has decreased. A sensitivity analysis shows that the baseline results are robust to applying a recursive window methodology and some of the findings are qualitatively unaltered from using Consensus Economics forecasts in the regressions.

Purpose – The chapter analyzes the conciliation strategies of the Chinese business families in Spain.

Methodology – The data was gathered as part of a major fieldwork project that included in-depth interviews and participant observation.

Findings – The research reveals a kind of transnational motherhood, which is invisible in the academic field. The strategy for work-family balance of the Chinese in Spain situates the mothers primarily in their productive dimension. Management of the work-family balance (the productive and reproductive work) depends on the phase of the family business path. Chinese families enact two different strategies for balancing work-family life: “transnationalized” reproduction and “externalized” reproduction. In both strategies, Chinese women do not engage in intensive motherhood, but at the same time they do remain highly involved in the home. The analysis of the productive-reproductive continuum shows the complexity of the gender relationships within the Chinese family enterprise.

Theoretical implications – Fieldwork data discloses a dynamic social relationship and suggest a revision of the theoretical assumptions used to explain the links among gender, work, and family in transnational space.

Practical implications – As global immigration continues to grow, adjustments and flexibility will be required of all parties. Immigrant families will have to contend with family reunification policies that vary from nation to nation. Because immigrant family dynamics can be culture-specific, receiving nations will require flexible policies in housing, education, and other sectors.

This chapter provides an empirical assessment of the effects of infrastructure provision on structural change and aggregate productivity using industrylevel data for a set of developed and developing countries over 1995–2010. A distinctive feature of the empirical strategy followed is that it allows the measurement of the resource reallocation directly attributable to infrastructure provision. To achieve this, a two-level top-down decomposition of aggregate productivity that combines and extends several strands of the literature is proposed. The empirical application reveals significant production losses attributable to misallocation of inputs across firms, especially among African countries. Also, the results show that infrastructure provision has stimulated aggregate total factor productivity growth through both within and between industry productivity gains.

This chapter examines the effects that airports have had on economic development in cities from 1950 to 2010. It uses a novel dataset consisting of previously unexploited data on the origins and history of the aviation system in the United States. Applying the method of synthetic controls to a set of medium and small airports, I examine both the overall impacts and the heterogeneity within the outcomes of various airports. Then, I use regression analysis to determine key factors differentiating successful airports from less successful ones, as it pertains particularly to population and employment growth. I find that, first, on average, cities have benefited from airports over this period. Airports, overall, provided a causal contribution of 0.2– 0.6% per year on population and employment growth over the time period. Second, I show that city-level factors contributing to airport success include: (1) closer proximity to a major research university, (2) a capital city location, and (3) climate factors, particularly higher January mean temperatures and/or hours of sunshine. City size is a consideration as well; cities in larger metropolitan areas, with larger shares of employment in nontradables in the 1950s, were also better positioned to reap the benefits that airports provided on city growth. Significant differences were not found across regions, airport governance structures, or other factors.

We blend knowledge creation and complexity perspectives in a model of strategy-making that explains how top managers in organizations that are reinventing their industries in high-velocity environments conceptualize the strategy-formation process. The model is grounded in four in-depth case studies of Internet banks that are part of different established financial groups in Spain. The main findings suggest that strategy-making seems to emerge out of the interplay of the following interrelated constructs: action, reflection-on-action, imagination, and simple guiding principles. The study of such constructs from the perspectives of knowledge creation and complexity theory suggests interesting implications. Action and reflection-on-action seem to form a first SECI (Socialization–Externalization–Combination–Internalization) spiral of knowledge creation. Out of the interaction of action and reflection-on-action, imagination may emerge when the system has reached a “critical state”. Imagination forms a second SECI spiral of knowledge creation. The interaction between imagination and action on a higher level results from the emergence and application of simple guiding principles, which provide the organization with coherence between what is imagined and what is done, and guide the actions taken throughout the organization with flexible planning. We conclude by proposing that strategy-making may be understood as a complex, double-loop process of knowledge creation.

The political crisis related to two main factors internal to the public revenue system, namely financial markets and the commercialisation of the state, and three related external factors, pertaining to the pandemic, popular discontent and inequality. The emphasis on financial markets since the mid-1990s expanded the commercialisation of the state while neglecting public accountability and government oversight. The efforts to shore up public finances through the tax system is increasingly undermined by the global tax architecture, enabling financial secrecy and illicit financial flows.

The pandemic revealed the significance of women’s work, paid as well as unpaid care work. The pandemic also exposed the limitations of a domestic economy, based on export-oriented development, over-reliant on tourism and remittances from migrant workers. Combining with the on-going dengue epidemic, the pandemic highlighted the urgency of climate adaptation. Meanwhile, the popular discontent conveyed an accumulation of grievances linked with cultural discrimination, political misrepresentation as well as economic maldistribution. The participation of new middle-class segments in the protests foregrounded new tendencies significant for strengthening the labour movement as well as working-class parties in their demands for redistribution, reframing democracy as well as citizenship.

This chapter examines firm strengths and weaknesses from the standpoint of intangible assets. These are compared within and across industry sectors in order to better understand who might be a potential collaborator (or competitor) in different contexts. Establishing the conceptual basis of a range of intangibles, including data, explicit knowledge, tacit knowledge, and intelligence, the chapter moves to metrics for assessing industry averages and individual firm capabilities. Finally, several sectors in healthcare are examined, specifically identifying what kinds of collaborators would best fit with a technology-driven start-up like Theranos.

This chapter applies the five drivers of productivity framework to regional microdata for Egypt and extends it by introducing an index of industrial clusters as an explanatory factor of the productivity performance of local private sector firms. Applying structural equation models, the geographic concentration of sectoral economic activity is found to have a positive and statistically significant effect on labor productivity. The transmission mechanism is conjectured to be the positive spillovers that are created, which local firms can tap into. In contrast, a higher concentration of skilled workers in an industrial sector in a region is associated with lower levels of labor productivity – a finding that suggests there may be structural deficiencies in the allocation of skilled workers. Regional policy should focus on net investments in gross capital formation throughout the country, for which the national and regional governments should improve how public investments are managed and the institutional framework – including the rule of law, bureaucracy and red tape, conflict of interest, transparency, and governance – so that private investment (both local and foreign) may substantially increase.

This chapter offers a first-person account by a faculty member/consultant who advised a chemical manufacturing company, Albemarle (formerly Quality Chemicals Incorporated, (QCI)), on outreach with important external stakeholders that include a diverse community according to age, education, and income. Among this small PA town of residents with a motto of “quality of life comes first,” a community advisory council (CAC) consisting of members reflecting the diverse demographics of the town, launched a communication campaign with research steps to discover how to best prepare the community for risk events.