8,370 research outputs found
Mixed signals: central bank independence, coordinated wage bargaining, and European Monetary Union
Plans for European Monetary Union are based on the conventional postulate that increasing the independence of the central bank can reduce inflation without any real economic effects. However, the theoretical and empirical bases for this claim rest onmodels of the economy that make unrealistic information assumptions and omitinstitutional variables other than the central bank. When the signaling problems between the central bank and other actors in the political economy are considered,we find that the character of wage bargaining conditions the impact of central bankindependence by rendering the signals between the bank and the bargainers moreor less effective. Greater independence can reduce inflation without majoremployment effects where bargaining is coordinated, but it brings higher levels ofunemployment where bargaining is uncoordinated. Thus, currency unions like the EMU may require higher levels of unemployment to control inflation than their proponents envisage; they will have costs as well as benefits, costs which will bedistributed unevenly among and within the member nations based on the changesinduced in the status of the bank and of wage coordination -- Die Konzepte fĂŒr die EuropĂ€ische WĂ€hrungsunion basieren auf dem allgemeinvertretenen Postulat, daĂ mit gröĂerer UnabhĂ€ngigkeit der Zentralbank die Inflationohne reale ökonomische Effekte verringert werden kann. Allerdings beruht die theoretische wie empirische Basis fĂŒr diesen Anspruch auf Modellvorstellungen einer Volkswirtschaft, die auf unrealistischen Annahmen der Bedeutung von Informationen beruhen und institutionelle Variable - mit Ausnahme der Zentralbank - auĂer acht lassen. Wird allerdings die wechselseitige Wahrnehmung und Interpretation vonInformationen (signaling problems) zwischen Zentralbank und den anderenAkteuren in der politischen Ăkonomie in die Analyse einbezogen, dann ist festzustellen, daĂ die Art der Lohnfindung die IntensitĂ€t der Auswirkungen derZentralbankunabhĂ€ngigkeit beeinfluĂt je nachdem, wie wirksam die wechselseitige Wahrnehmung und Interpretation von Informationen zwischen der Zentralbank und den Tarifpartnern vermittelt ist.Im Falle koordinierter Tarifverhandlungen kann eine gröĂere UnabhĂ€ngigkeit derZentralbank die Inflation in der Tat ohne gröĂere BeschĂ€ftigungseffekte vermindern,im Falle unkoordinierter Tarifverhandlungen fĂŒhrt dies allerdings zu einem höherenNiveau der Arbeitslosigkeit. Daraus leitet sich die Ăberlegung ab, daĂ eineWĂ€hrungsunion vom Typ EuropĂ€ische WĂ€hrungsunion ein höheres MaĂ an Arbeitslosigkeit erfordert, um die Inflation unter Kontrolle zu halten, als es ihre BefĂŒrworter erwarten. Bei den sich dann einstellenden Vor- und Nachteilen werden die Nachteile zwischen und innerhalb der Mitgliedstaaten ungleich verteilt sein, abhĂ€ngig von dem letztendlich verwirklichten Grad der UnabhĂ€ngigkeit derZentralbank und der Form der Lohnfindung.
Re-integrating Design Education: Lessons from History
Throughout its short history, formal design education has struggled to find a balance between imparting technical skills and fostering bigger picture, critical and conceptual thinking; and also between notions of passive and active learning. As educators become ever cognizant of a future marked by environmental crisis and accompanying complex problems of population flux, civil unrest, pollution and waste, achieving a balance between âknow howâ and meta-level thinking has become more pressing. The premise of this paper is that a 21st Century design education can further this goal by confronting the productivist entanglements of its past. It will argue that the lessons of its turbulent relationship with industry provide the seeds for an approach to learning that is better integrated with industry and society than conventional hypothetical studio assignments allow
Grid-connected renewables, storage and the UK electricity market
This article is a critical counterpoint to an article by published by Swift-Hook in the journal of Renewable Energy entitled "Grid-connected intermittent renewables are the last to be stored". In contrast to Swift-Hook we found evidence that "grid-connected intermittent renewables" have been, and will continue to be stored when it suits the "UK market" to do so. This article is important to policy makers as energy storage (through EV battery demand side management for example) may well have an important role to play in facilitating the integration of high wind penetrations
When white working-class men feel society no longer values them
The Brexit referendum exposed deep political divisions within British society, and more than a year after that vote, those divisions show no signs of disappearing
Varieties of Capitalism and Institutional Complementarities in the Macroeconomy
Using aggregate analysis, this paper examines the core contentions of the "varieties of capitalism" perspective on comparative capitalism. We construct a coordination index to assess whether the institutional features of liberal and coordinated market economies conform to the predictions of the theory. We test the contention that institutional complementarities occur across sub-spheres of the macroeconomy by examining the correspondence of institutions across sub-spheres and estimating the impact of complementarities in labor relations and corporate governance on rates of growth. To assess the stability of the institutional features central to the theory, we assess the dynamics of institutional change in recent years. The evidence suggests that there are powerful interaction effects among institutions across sub-spheres of the political economy that must be considered if the economic impact of institutional change in any one sphere is to be accurately assessed.Mit Hilfe von Aggregatdaten analysiert dieses Papier Kernaussagen des "Varieties-of-Capitalism"-Ansatzes. Um beurteilen zu können, ob die Aussagen der Theorie mit den institutionellen Begebenheiten liberaler und koordinierter Ăkonomien ĂŒbereinstimmen, konstruieren wir einen lĂ€ndervergleichenden Index der ökonomischen Koordination. Wir ĂŒberprĂŒfen die These von der institutionellen KomplementaritĂ€t zwischen den verschiedenen SphĂ€ren politischer Ăkonomien, indem wir das Zusammenwirken von Institutionen analysieren und den Einfluss komplementĂ€rer Institutionen der Arbeitsbeziehungen und der Unternehmenskontrolle auf die Höhe von Wachstumsraten untersuchen. Wir diskutieren darĂŒber hinaus, wie stabil die institutionellen Begebenheiten in den vergangenen Jahren waren. Im Ergebnis zeigen sich starke Interaktionseffekte zwischen den SphĂ€ren politischer Ăkonomien, die berĂŒcksichtigt werden mĂŒssen, um die wirtschaftlichen Wirkungen institutionellen Wandels in einzelnen SphĂ€ren zu verstehen
Varieties of capitalism and institutional complementarities in the macroeconomy : an empirical analysis
Using aggregate analysis, this paper examines the core contentions of the "varieties of capitalism" perspective on comparative capitalism. We construct a coordination index to assess whether the institutional features of liberal and coordinated market economies conform to the predictions of the theory. We test the contention that institutional complementarities occur across sub-spheres of the macroeconomy by examining the correspondence of institutions across sub-spheres and estimating the impact of complementarities in labor relations and corporate governance on rates of growth. To assess the stability of the institutional features central to the theory, we assess the dynamics of institutional change in recent years. The evidence suggests that there are powerful interaction effects among institutions across sub-spheres of the political economy that must be considered if the economic impact of institutional change in any one sphere is to be accurately assessed.Mit Hilfe von Aggregatdaten analysiert dieses Papier Kernaussagen des "Varieties-of-Capitalism"-Ansatzes. Um beurteilen zu können, ob die Aussagen der Theorie mit den institutionellen Begebenheiten liberaler und koordinierter Ăkonomien ĂŒbereinstimmen, konstruieren wir einen lĂ€ndervergleichenden Index der ökonomischen Koordination. Wir ĂŒberprĂŒfen die These von der institutionellen KomplementaritĂ€t zwischen den verschiedenen SphĂ€ren politischer Ăkonomien, indem wir das Zusammenwirken von Institutionen analysieren und den Einfluss komplementĂ€rer Institutionen der Arbeitsbeziehungen und der Unternehmenskontrolle auf die Höhe von Wachstumsraten untersuchen. Wir diskutieren darĂŒber hinaus, wie stabil die institutionellen Begebenheiten in den vergangenen Jahren waren. Im Ergebnis zeigen sich starke Interaktionseffekte zwischen den SphĂ€ren politischer Ăkonomien, die berĂŒcksichtigt werden mĂŒssen, um die wirtschaftlichen Wirkungen institutionellen Wandels in einzelnen SphĂ€ren zu verstehen
Measuring a cell's response to stress: the p53 pathway
The characterization of complex cellular responses to diverse stimuli can be studied by the use of emerging chip-based technologies
Depletion-Isolation Effect in Vertical MOSFETs During the Transition From Partial to Fully Depleted Operation
A simulation study is made of floating-body effects (FBEs) in vertical MOSFETs due to depletion isolation as the pillar thickness is reduced from 200 to 10 nm. For pillar thicknesses between 200â60 nm, the output characteristics with and without impact ionization are identical at a low drain bias and then diverge at a high drain bias. The critical drain bias Vdc for which the increased drainâcurrent is observed is found to decrease with a reduction in pillar thickness. This is explained by the onset of FBEs at progressively lower values of the drain bias due to the merging of the drain depletion regions at the bottom of the pillar (depletion isolation). For pillar thicknesses between 60â10 nm, the output characteristics show the opposite behavior, namely, the critical drain bias increases with a reduction in pillar thickness. This is explained by a reduction in the severity of the FBEs due to the drain debiasing effect caused by the elevated body potential. Both depletion isolation and gateâgate coupling contribute to the drainâcurrent for pillar thicknesses between 100â40 nm
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