Measurement of inflation: An alternative approach

The stochastic approach to index numbers has attracted renewed attention in recent times (e.g., Clements and Izan, 1981 and 1987; Diewert, 1995; Giles and McCann, 1994; and Selvanathan and Rao, 1994). One of the attractions of this approach is that it provides standard errors for the index numbers. This paper reviews the stochastic approach and extends the existing work by presenting an alternative approach to measure the rate of inflation. This approach has been demonstrated using consumption expenditure data for three countries, Australia, the United Kingdom (UK) and the United States (US).stochastic approach, index numbers, inflation, standard errors

Foreign Direct Investment, Domestic Investment, and Economic Growth in China: A Time Series Analysis

In this paper, we investigate the causal link between foreign direct investment (FDI), domestic investment and economic growth in China for the period 1988-2003. Towards this purpose, a multivariate VAR system with error correction model (ECM) and the innovation accounting (variance decomposition and impulse response function analysis) techniques are used. The results show that while there is a bi-directional causality between domestic investment and economic growth, there is only a single-directional causality from FDI to domestic investment and to economic growth. Rather than crowding out domestic investment, FDI is found to be complementary with domestic investment. Thus, FDI has not only assisted in overcoming shortage of capital, it has also stimulated economic growth through complementing domestic investment in China.foreign direct investment, domestic investment, economic growth, multivariate VAR system, error correction model

Causality between Foreign Direct Investment and Tourism : Empirical Evidence from India

This paper investigates the causal link between foreign direct investment and tourism in India by employing the Granger causality test under a VAR framework. A one-way causality link is found from foreign direct investment to tourism in India. This evidence once again adds to the need for appropriate policies and plans to further expand and develop tourism given that FDI flow into India is expected to be strong in the coming years, bringing along a demand for tourism as well.FDI, Tourism, Granger Causality

Remittances and Economic Growth: Empirical Evidence from Bangladesh India and Sri Lanka

In many developing countries, remittance payments from migrant workers are increasingly becoming a significant source of export income. This paper investigates the causal link between remittances and economic growth in three countries, Bangladesh, India and Sri Lanka, by employing the Granger causality test under a VAR framework (Granger 1988). Using time series data over a 25 year period, we found that growth in remittances does lead to economic growth in Bangladesh. In India, there seems to be no causal relationship between growth in remittances and economic growth; but in Sri Lanka, a two-way directional causality is found; namely economic growth influences growth in remittences and vice-versa. The paper also discusses a number of policy issues arising from the results of the analysis in relation to remittances in association with liberalisation of financial institutions, gender issues, regulation and enforcement, investment and savings schemes, and promotion and education.

What is the future of Richemont, Kering and Lvmh´s online-offline strategies in China?

Despite the notion of luxury brands retailing online is regarded in contempt, COVID-19 disrupted and induced the luxury industry to transform digitally mainly in China. This paper studies the current and future strategies of Chinese technology behemoths, Alibaba and Tencent, including major luxury conglomerates, Richemont, Kering and LVMH’s omnichannel approaches in China through data obtained from business literature and other sources. The analysis discovered three distinct religions from the luxury groups. ‘New retail’ concept is gaining moment um rapidly in China and the luxury sector might witness more meaningful opportunities for consolidation in the foreseeable future whilst maintaining exclusivity

Dynamic modelling of consumption patterns using LA-AIDS: : a comparative study of developed versus developing countries

Acknowledgements The authors would like to thank the anonymous referees and the editor of this journal for their constructive comments on an earlier version of the paper. We also thank Ms. Tanya Parker for editorial assistance. The authors also gratefully acknowledge the internal grants received from the Griffith Asia Institute and the COVID-19 Supplementary Funding Pool Scheme from Charles Darwin University to undertake this research. Funding Open Access funding enabled and organized by CAUL and its Member Institutions. This research did not receive any specific grant from funding agencies in the public, commercial or not-for-profit sectors.Peer reviewedPublisher PD

Specificational Copular Clauses as Inverted Predications with a Semantics of Equation

In this paper, we argue that specificational copular clauses are derived equations which are distinct from genuine equatives. While the latter has an equative copula, the former achieves a semantics of equation through type-shift. The account presented here not only allows us to maintain a predicate inversion analysis for specificational copular clauses but also explain when a predicate can be inverted, thus accommodating some of the main empirical short-falls of a predicate inversion analysis. We also show that this account can be extended to other types of specificational copular clauses, such as those with possessive subjects and indefinites

The appliance of the concept of sustainability in human resource management in the corporate sector in Germany

Decline of resources, increasing expectation of stakeholders and radical transparency imposed by new technologies urges multinational enterprises to define sustainability as an important driver, which affects Strategic and Human Resource Management. An organization’s corporate social performance becomes increasingly important in attracting highly educated applicants with a high level of job choice, often a source of competitive advantage in the human resource area. This research investigates the usage of the concept of sustainability in Human Resource Man- agement in Germany. Hypotheses were derived, an empirical content analysis was executed and 8745 job advertisements analyzed on sustainable patterns. Annual reports and sustainability reports of organizations were evaluated on defining sustainability related targets in their compensation management. Personal interviews with Human Resource Managers of global market leaders were executed regarding the influence of sustainability in Human Resource Management. Although the Executives of companies state that sustainability plays a major role in Human Resource Management there is a gap in implementation. Sustainability concepts were found in less than one third of all job advertisements. A minority of the investigated companies formulates sustainability related targets in their compensation management. The interviews of the HR Managers confirm the high relevance of sustainability of Human Resource Management but points out the reason for the lack of implementation as a deficit of specified training and development. In order to attract highly qualified employees there is a need pointing out ecological, social and sustainable efforts by the company. By doing so the gap between Human Resource Management and Sustainability could be bridged and the term of Sustainable Human Resource Management practically applied.La disminución de los recursos, una mayor expectación de las partes interesadas y una transparencia radical impuesta por las nuevas tecnologías instan a las empresas multinacionales a definir la sostenibilidad como un factor importante, el cual afecta la gestión estratégica y de los recursos humanos. El rendimiento socio- empresarial de una organización es cada vez más importante para atraer candidatos con una excelente formación y un alto nivel de elección de empleo, lo cual suele ser una ventaja competitiva en los recursos humanos. Este estudio investiga el uso del concepto de la sostenibilidad en la gestión de los recursos humanos en Alemania. Se han derivado un número de hipótesis, se ha realizado un análisis de contenido empírico y se han analizado 8 745 ofertas de empleo. Se han evaluado los informes anuales y de sostenibilidad para definir objetivos relacionados con la sostenibilidad en la gestión de la remuneración. Se han realizado entrevistas con gerentes de RR. HH. de empresas líder a nivel mundial sobre la influencia de la sostenibilidad en la gestión de recursos humanos. A pesar de que los ejecutivos de varias empresas indiquen que la sostenibilidad juega un papel fundamental en la gestión de RR. HH., existe una brecha en su implementación. Se han encontrado conceptos de sostenibilidad en menos de un tercio de todas las ofertas de empleo. Una minoría de las empresas investigadas plantean objetivos relacionados con la sostenibilidad en su gestión de remuneración. Las entrevistas con los gerentes de RR. HH. confirman la gran importancia de la sostenibilidad en la gestión de recursos humanos pero señala como culpable de la falta de implementación un déficit en la formación y el desarrollo. Para poder atraer empleados altamente cualificados las empresas deben resaltar sus iniciativas ecológicas, sociales y sostenibles. Al hacer esto la brecha entre la gestión de recursos humanos y la sostenibilidad podría desaparecer y así aplicarse el término Gestión de Recursos Humanos Sostenible

The appliance of the concept of sustainability in human resource management in the corporate sector in Germany

Decline of resources, increasing expectation of stakeholders and radical transparency imposed by new technologies urges multinational enterprises to define sustainability as an important driver, which affects Strategic and Human Resource Management. An organization’s corporate social performance becomes increasingly important in attracting highly educated applicants with a high level of job choice, often a source of competitive advantage in the human resource area. This research investigates the usage of the concept of sustainability in Human Resource Man- agement in Germany. Hypotheses were derived, an empirical content analysis was executed and 8745 job advertisements analyzed on sustainable patterns. Annual reports and sustainability reports of organizations were evaluated on defining sustainability related targets in their compensation management. Personal interviews with Human Resource Managers of global market leaders were executed regarding the influence of sustainability in Human Resource Management. Although the Executives of companies state that sustainability plays a major role in Human Resource Management there is a gap in implementation. Sustainability concepts were found in less than one third of all job advertisements. A minority of the investigated companies formulates sustainability related targets in their compensation management. The interviews of the HR Managers confirm the high relevance of sustainability of Human Resource Management but points out the reason for the lack of implementation as a deficit of specified training and development. In order to attract highly qualified employees there is a need pointing out ecological, social and sustainable efforts by the company. By doing so the gap between Human Resource Management and Sustainability could be bridged and the term of Sustainable Human Resource Management practically applied.La disminución de los recursos, una mayor expectación de las partes interesadas y una transparencia radical impuesta por las nuevas tecnologías instan a las empresas multinacionales a definir la sostenibilidad como un factor importante, el cual afecta la gestión estratégica y de los recursos humanos. El rendimiento socio- empresarial de una organización es cada vez más importante para atraer candidatos con una excelente formación y un alto nivel de elección de empleo, lo cual suele ser una ventaja competitiva en los recursos humanos. Este estudio investiga el uso del concepto de la sostenibilidad en la gestión de los recursos humanos en Alemania. Se han derivado un número de hipótesis, se ha realizado un análisis de contenido empírico y se han analizado 8 745 ofertas de empleo. Se han evaluado los informes anuales y de sostenibilidad para definir objetivos relacionados con la sostenibilidad en la gestión de la remuneración. Se han realizado entrevistas con gerentes de RR. HH. de empresas líder a nivel mundial sobre la influencia de la sostenibilidad en la gestión de recursos humanos. A pesar de que los ejecutivos de varias empresas indiquen que la sostenibilidad juega un papel fundamental en la gestión de RR. HH., existe una brecha en su implementación. Se han encontrado conceptos de sostenibilidad en menos de un tercio de todas las ofertas de empleo. Una minoría de las empresas investigadas plantean objetivos relacionados con la sostenibilidad en su gestión de remuneración. Las entrevistas con los gerentes de RR. HH. confirman la gran importancia de la sostenibilidad en la gestión de recursos humanos pero señala como culpable de la falta de implementación un déficit en la formación y el desarrollo. Para poder atraer empleados altamente cualificados las empresas deben resaltar sus iniciativas ecológicas, sociales y sostenibles. Al hacer esto la brecha entre la gestión de recursos humanos y la sostenibilidad podría desaparecer y así aplicarse el término Gestión de Recursos Humanos Sostenible.Postprint (published version

Stochastic Index Numbers: A Review

The stochastic approach is a new way of viewing index numbers in which uncertainty and statistical ideas play a central role. Rather than just providing a single number for the rate of inflation, the stochastic approach provides the whole probability distribution of inflation. This paper reviews the key elements of the approach and then discusses some previously overlooked links with Fisher’s early work contained in his book The Making of Index Numbers. We then consider some more recent developments, including Diewert’s well-known critique of the stochastic approach, and provide responses to his criticisms. We also provide a review of Theil’s work on the stochastic approach, and present and extend Diewert’s work on this topic within the context of the Country Product Dummy method which measures price levels internationally.