World Class Supply Chain 2019: Next Generation Ideas

Next Generation Ideas, being the theme for the Fourth Annual World Class Supply Chain Summit, reflected summit’s focus on understanding what is becoming and what will continue to be of increasingly of high priority for current and future supply chain professionals. The summit, which was held on May 8th, 2019 in Milton, Ontario, brought together invited executives, scholars, and students to present and carefully examine a range of emerging ideas that are worthy of the supply chain community’s interest. The diversity of such ideas (e.g., new technologies, geopolitical developments, and the role of supply chain analytics) necessitated a diverse range of perspectives for structuring the summit deliberations. This was done through a summit program comprising three presentations to feature the following perspectives: Perspectives of a vastly experienced industry executive perspective who has amassed an extensive body of material on ecological considerations in supply chains Perspectives of an economist with evidence-based understanding of how decisions by national governments impact firms with both domestic and transnational supply chains Perspectives of a supply chain scholar whose research projects are strongly motivated by how companies have had (and will have) to rethink their distribution networks From the formal presentations and the question and answer component for each presentation, the essence of the insights could be summarized by this notion: While firms must still exemplify traditional supply chain fundamentals (trusted partners, robust IT infrastructure, etc.), they face the additional and an increasingly pressing imperative of needing the agility to be responsive to changes, especially from customers and competitors. Arguably, this is not an original statement because one can make a convincing case that dynamic change has always been a feature of the business landscape. Rather than originality, the statement is meant to underscore that, at this time in the development of the supply chain field, practitioners seem to be experiencing a very distinct level of bewilderment about the array of changes to be contemplated. The summit not only brought that bewilderment to the fore, it also: facilitated discussion of the opportunities resulting from the changes presented real-world examples of innovative and entrepreneurial responses to the changes addressed the interests and concerns of students - the next generation of supply chain professionals This white paper reports on (1) the substantive specifics of those elements of the summit and (2) issues requiring further study in order to be understood more clearly

Rethinking Business Cycle Models – Workshop at the MNB

‘DSGE Models: A Closer Look at the Workhorse of Macroeconomics’ was the title of the international workshop organised for the 8th time by the Magyar Nemzeti Bank (MNB) jointly with the London-based Center for Economic Policy Research on 3-4 September 2009. The recent sub-prime debacle, the resulting financial meltdown and the substantial policy responses gave the topicality of the event; even more so as the unexpected extent of the crisis stirred a heated debate within and outside the economics profession about the applicability and usefulness of the current business cycle models.2 The keynote speakers of the event were professors Lawrence Christiano (Northwestern University) and Mark Gertler (New York University, NYU), who are both world-renowned for their essential and continuing contributions to the development of the current versions of business cycle models. The keynote speakers with the 15 presenters from 10 countries and their discussants provided important attempts to challenge or defend basic assumptons of the models (e.g. sticky developments in prices or rational and forward-looking expectations); argue for adding long missing factors (e.g. an explicit financial sector and imperfect credit markets) to the models, or for dropping others (e.g. money-demand) which seem non-essential. There was general agreement among the participants with Governor of the MNB András Simor, who said that in the current crisis ‘we need [models of business cycles] more than ever,’ but they need to be developed further to be able to analyse and quantify factors that the current crisis showed essential.business cycle models, learning, price stickiness, optimal monetary policy, emerging market business cycles, estimation, country portfolios.

Bringing together policymakers, researchers, and practitioners to discuss job loss

Unemployment ; Displaced workers

INTEGRATING CULTURE, SONG LYRICS AND TECHNOLOGY IN TRANSLATIONCLASS

Translation class which is dominated by writing activity can be dull and boring for university students if it is not well organized. Some teaching techniques are introduced to minimize the dullness of lecture. One of them is using students’ interest, that is using song lyrics rather than article taken from text book as the source text. This teaching technique can be the best alternative since almost all students like music and sometimes they do not know the meaning of the song they sing or if it is Indonesian song, they can not find the best equivalent in English. This teaching technique can be considered as personal learning because the students can choose any song lyrics they like. By using song lyrics students will find the excitement and enthusiasm while they doing the tasks which they cannot find when they are translating articles, especially when they are asked to do the task using their own laptops. Nowadays, less students bring dictionary in the class because almost all of them have dictionary programs or application such as kamus.net, indotranslate.com and googletranslate in their laptops or smartphones. Some of the programs and application can translate not only a word, but phrases and even sentences into the target language. This effortless way of translating has missed one important point in doing translation, that is culture. Culture in this discussion should be seen in a broad sense. Culture is not only understood as the advanced intellectual development of mankind as reflected in the arts, but it refers to all socially conditioned aspects of human life (cf. Snell-Hornby, 1988: Hymes, 1964). With technology, students can easily type the words, phrases and sentences into the search box in their dictionary program or application but the outcome is sometimes awkward and unsuitable to the target language. The outcome of translating process should be natural and suitable to the target language as Nida and Taber (1969) stated that translating consists of reproducing in the receptor language the closest natural equivalent of the source language message, first in terms of meaning and secondly in terms of style. A translation process should involve culture to find the best meaning and style in the target language so that the text can be as natural as it can be. Moreover, Will in Noss (1982: 3) stated that translation is a transfer process which aims at the transformation of a written source language text into an optimally equivalent target language text, and which requires the syntactic, the semantic and the pragmatic understanding and analytical processing of the source language. It is clearly stated that culture takes important role in translating process and students need to learn to involve culture in the translation process in interesting and exciting ways. In this teaching technique, students are given English song lyrics and they are asked to translate them in Indonesian and they are also given Indonesian song lyrics and they are asked to translate them into English

The Philadelphia Fed Policy Forum: summary of the 2001 Policy Forum and announcement of the 2002 Policy Forum.

Monetary policy

SAFE Newsletter : 2013, Q3

Research: Joachim Weber, Benjamin Loos, Steffen Meyer, Andreas Hackethal "Individual Investors' Trading Motives and Security Selling Behavior" Ignazio Angeloni, Ester Faia "Monetary Policy and Prudential Regulations with Bank Runs" Helmut Siekmann "Legal Limits to Quantitative Easing" Policy Margit Vanberg "SAFE Summer Academy 2013 on 'International Financial Stability'" Guest Commentary Peter Praet "Cooperation between the ECB and Academia

Monetary operating procedures: Principles and the Indian process

As markets deepen and interest elasticities increase it is optimal for emerging markets to shift towards an interest rate instrument since continuing monetization of the economy implies money demand shocks are large. In an extension of the classic instrument choice problem to the case of frequent supply shocks, it is shown the variance of output is lower with the interest rate rather than a monetary aggregate as instrument, if the interest elasticity of aggregate demand is negative, and the interest elasticity of money demand is high or low. It is necessary to design an appropriate monetary policy response to supply shocks. An evaluation of India's monetary policy procedures and of the recent fine-tuning of the liquidity adjustment facility finds them to be in tune with these first principles and in the direction of international best practices. But a survey of country experiences and procedures, and some aspects of the Indian context suggest further improvements.Monetary policy, operating procedures, instrument problem, LAF