Real exchange rate and asymmetric shocks in the West African Monetary Zone (WAMZ)

This paper examines real effective exchange rate (REER) responses to shocks in exchange rate determinants for the West African Monetary Zone (WAMZ) over the period 1980–2015. The analysis is based on a country-by-country VECM, and oil price, supply and demand shocks are identified using long run restrictions in a structural VAR model. We report significant differences in the response of REER to real oil price, productivity (supply) and demand preference shocks across these economies. In addition the relative contribution of these shocks to REER movements in the short and long run appears to be different across economies. Our findings suggest that the WAMZ countries are structurally different, and asymmetric shocks with inadequate adjustment mechanisms imply that a monetary union would be costly

Multiple job holding in the United Kingdom: evidence from the Bristish household panel survey

This paper examines the determinants of multiple job holding in the United Kingdom. We address these issues using data from the first eleven waves of the British Household Panel Survey, which covered the period from 1991 to 2001. Evidence from the BHPS does not support the hypotheses of main job hours constrained and main job insecurity. We argue that the incentive for moonlighting in the United Kingdom is due to financial pressures and the desire for heterogeneous jobs. The empirical work is carried out separately for men and women.Moonlighting, Labour supply, Tobit model, Job satisfaction, the BHPS

The economic cost of membership

N

Exports, imports and economic growth in South Korea and Japan: a tale of two economies

This paper investigates the relationship between exports, imports and economic growth for South Korea and Japan by constructing a vector autoregression (VAR) model. Causality is examined between real GDP, real exports and real imports. Several principal results emerge from the empirical work. Firstly, the three variables are cointegrated for both countries, implying that a long-run steady state exists. Secondly, there is evidence of bi-directional causality between imports and economic growth for both countries. Finally, Japan seems to experience export-led growth, while GDP growth in South Korea has a negative effect on export growth. These contrasting findings could result from export goods in Japan exhibiting greater non-price competitive aspects, although their success fails to trigger a virtuous circle since growth fails to lead to increased exports, whilst for South Korea, output growth leads to a decrease in export growth suggesting a strong domestic market

Informal training in Chinese small- and medium-sized enterprises

YesEntrepreneurship in small- and medium-sized enterprises are significant contributors to economic development. The purpose of this research is to examine the extent and motives for the use of informal training in Chinese SMEs. Using case studies, we found that informal training is widely used and generally accepted in Chinese SMEs. We also uncovered three separate categories on the motives for SMEs in adopting informal training based on the financial and time constraints they face, the perceived outcomes of training activities in terms of organisational performance, employee turnover, and the development of guanxi and positive team cohesion, as well as the attitudinal aspects of both managers and employees that influence their intentions in adopting a specific training approach. Our study contributes to the literature of HRM in Asia, and has important implications for the government and institutions in emerging countries to support entrepreneurship and SMEs

The impact of the economic crisis on euroscepticism

Ye

Managing grey clays : to maximise production and sustainability

This bulletin discusses the identification, understanding and management of grey clay soils in the south-west of Western Australia.https://researchlibrary.agric.wa.gov.au/bulletins/1033/thumbnail.jp

Economic implications of alternative trade relationships: post-Brexit options for the UK

YesThis chapter discuss several key issues for the UK in relation to Brexit. Firstly, how new directions could be initiated to fund infrastructure aimed at boosting the UK's future growth potential and/or promote reindustrialisation by nurturing strategic industries through the early and unknowable stages of their development until they achieve their own international competitive advantage. Secondly, we contest the belief that globalisation has created a new environment eroding the efficiency of traditional policy instruments and with it the relevance of individual nation states. Finally, in this context we conclude by arguing that Brexit offers a unique opportunity to negotiate of a new trade relationship with the EU, together with the rest of the world to both replace previous trade deals concluded by the EU, but also to establish a new set of relationships with a wider set of potential trade partners

Visual Sensory Experiences From the Viewpoint of Autistic Adults

Although previous research has investigated altered sensory reactivity in autistic individuals, there has been no specific focus on visual sensory experiences, particularly in adults. Using qualitative methods, this study aimed to characterize autistic visual sensory symptoms, contextualize their impact and document any associated coping strategies. A total of 18 autistic adults took part in four focus groups which involved questions around visual experiences, the impact of these on daily life, and strategies for their reduction. Transcripts of each session were thematically analyzed allocating six key themes. Participants described a range of visual hypersensitivities, including to light, motion, patterns and particular colors, which contributed to distraction and were frequently part of a wider multisensory issue. Such experiences had significant negative impacts on personal wellbeing and daily life with participants describing fatigue, stress and hindrances on day-to-day activities (e.g., travel and social activities). However, the degree of understanding that participants had about their visual experiences influenced their emotional response, with greater understanding reducing concern. Participants employed a variety of coping strategies to overcome visual sensory experiences but with varied success. Discussions also highlighted that there may be a poor public understanding of sensory issues in autism affecting how well autistic individuals are able manage their sensory symptoms. In summary, autistic adults expressed significant concern about their visual experiences and there is a need to improve understanding of visual experiences on a personal and public level as well as for developing potential support

Doomed to fail? Convergence and the Eurozone crisis

YesThis chapter reviews the substantive issue of monetary union through evaluating countries readiness for entry utilising the experience of the European Union’s process of Economic and Monetary Union (EMU). The European single currency system came under unprecedented strain following the Global Financial Crisis induced Great Recession and there is little reason to assume that this will diminish, in any significant way, in the near future. Crucially it is important to reflect that each economy is unique in its blend of sectoral strengths and weaknesses and comparative advantage, therefore the national interest will be distinctively different for each potential participant. In particular, there is no set rule in which to weigh the relative merits of the arguments associated with membership of a monetary union. In terms of the eurozone the chapter critically evaluates the convergence criteria stipulated in the Treaty on European Union (TEU) and empirically reviews the compliance of EU member states. It questions whether the TEU criteria satisfactorily perform this role, such that the convergence criteria present a series of financial tests, of which some are theoretically spurious, while the remainder are inadequate to indicate the range of consequences of participation. Finally, the chapter undertakes an analysis of the macroeconomic performance of Greece. Specifically, it focuses on the main features, economic events and key economic indicators (GDP per capita, inflation, unemployment, twin deficit of current account and net lending/borrowing, output gap and gross debt) during the crucial 2000-09 period, between eurozone membership and the crisis