1,055 research outputs found
High Inflation and Real Wages
Empirical data show that real wages fall sharply during periods of high inflation. This paper suggests a simple general equilibrium explanation, without relying on nominal rigidities. It presents an intertemporal two-sector model with a credit channel of monetary transmission. In this setting, inflation reduces real wages through (1) a decline of the capital stock, and (2) a shift in relative prices. The two effects are additive and make the decline in real wages exceed the decline in per capita GDP. This mechanism may contribute to rising poverty during periods of high inflation. Copyright 2004, International Monetary Fund
Tone from the Top in Risk Management: A Complementarity Perspective on How Control Systems Influence Risk Awareness
Prompted by the weaknesses of standardized risk management approaches in the aftermath of the
2008 financial crisis, scholars, regulators, and practitioners alike emphasize the importance of
creating a risk-aware culture in organizations. Recent insights highlight the special role of tone
from the top as crucial driver of risk awareness. In this study, we take a systems-perspective on
control system design to investigate the role of tone from the top in creating risk awareness. In
particular, we argue that both interactive and diagnostic use of budgets and performance measures
interact with tone from the top in managing risk awareness. Our results show that interactive control
strengthens the effect of tone from the top on risk awareness, while tone from the top and diagnostic
control are, on average, not interrelated with regard to creating risk awareness. To shed light on the
boundary conditions of the proposed interdependencies, we further investigate whether the
predicted interdependencies are sensitive to the level of perceived environmental uncertainty. We
find that the effect of tone from the top and interactive control becomes significantly stronger in a
situation of high perceived environmental uncertainty. Most interestingly, tone from the top and
diagnostic control are complements with regard to risk awareness in settings of low perceived
environmental uncertainty and substitutes at high levels of perceived environmental uncertainty.Series: Department of Strategy and Innovation Working Paper Serie
Kaiser, T.: Aussagekraft von Bestandsdaten fĂŒr die Pflege- und Entwicklungsplanung am Beispiel des NiedersĂ€chsischen Drömlings
Im Januar 2003 wurde das NaturschutzgroĂprojekt âNiedersĂ€chsischer Drömlingâ mit einem Fördervolumen von 10 Mio. Euro ĂŒber eine Laufzeit von 10 Jahren gestartet. Das niedersĂ€chsische Projekt stellt eine ErgĂ€nzung zum sachsen-anhaltischen Projekt dar, das in den Jahren 1992 bis 2003 umgesetzt wurde. Dem eigentlichen Projekt vorangestellt war in Niedersachsen ein schwieriger 14-jĂ€hriger Projektvorlauf, in dessen letzter Phase von 1998 bis 2001 ein Erprobungs- und Entwicklungsvorhaben (E+E-Vorhaben) vom Bundesamt fĂŒr Naturschutz gefördert wurde. Im Rahmen dieses E+E- Vorhabens âErprobung alternativer Planungsschritte bei Pflege- und EntwicklungsplĂ€nen am Beispiel des niedersĂ€chsischen Drömlingsâ wurde erstmals fĂŒr ein NaturschutzgroĂprojekt ein Pflege- und Entwicklungsplan (PEP) unter Einbeziehung aller Betroffenen konsensual erarbeitet
Reinhold Brennecke â 70 Jahre
Am 27. Dezember diesen Jahres vollendet Herr Reinhold Brennecke sein 70. Lebensjahr. Als engagierter NaturschĂŒtzer ist er in der Region bekannt und geachtet, als Vogelkundler und neuerdings vermehrt auch als Geschichtsforscher hat er sich ĂŒber die Region hinaus einen Namen gemacht. Mehr als 30 Jahre leitet er nunmehr die Ornithologische Arbeitsgemeinschaft Haldensleben (OAG) - ein Anlass, seinen Lebensweg nachzuzeichnen und seine Verdienste zu wĂŒrdigen
Amazonâs HQ2 Site Selection Criteria: The New âGold Standardâ in FDI Decision-Making
In 2017â2018, Seattle-based Tech behemoth Amazon executed a highly publicised location-finding process for a $5 billion investment project, dubbed âHQ2â. Owing to the combination of high investment volume and the companyâs unique public exposure, the HQ2 process is on course to becoming a basic yardstick for future foreign direct investment (FDI) projects all over the world. This article compiles the companyâs previously unpublished site selection criteria and develops an evidence-based system of investment decision arguments which is employed to test the currently dominant approaches in location decision theory - behavioural, neoclassical, and institutional. Our results identify gaps vis-Ă -vis this emerging âGold Standardâ and we propose the addition of a fourth, project-oriented approach to theory to fill the detected shortcomings. Furthermore, this system equips policymakers with a tool to evaluate their investment attraction strategies based on the decision criteria extracted from the HQ2 process
Population growth in random environments: which stochastic calculus?
Refereed scientific paper on stochastic differential equation models of population growth in random environments with resolution of the controversy on the use of ItĂŽ or Stratonovich calculus (extension to density-dependent noise intensities). The paper is in press in the Bulletin of ISI containing the Proceedings of the 56th Session of the ISI (2007). An electronic version is available
ItĂŽ versus Stratonovich calculus in random population growth
Paper that resolves the controversy on whether to use ItĂŽ or Stratonovich calculus on stochastic differential equation models applied to poulation growth in random environments
EquaçÔes diferenciais estocåsticas e aplicaçÔes biológicas
Invited dissemination paper on biological applications of stochastic differential equations
Crecimiento y extinciĂłn en ambientes que varĂan aleatoriamente: modelamiento y optimizaciĂłn mediante ecuaciones diferenciales estocĂĄsticas
This paper presents a brief overview of a range of applications of stochastic differential equations (SDE) in describing the growth of wildlife populations living in randomly varying environments and the associated risks of extinction, including profit optimization issues in the particular case of fish or other populations subjected to harvesting. The same basic ideas apply also to the growth of individual animals and how to optimize the profit of the farmers that raise such animals
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