452 research outputs found
The Harrod-Balassa-Samuelson Effect: A Survey of Empirical Evidence
No full textThe paper surveys empirical evidence on the Harrod-Balassa-Samuelson effect. The survey encompasses the published empirical work on the phenomenon since its (re)discovery in 1964. In total, 58 empirical papers are examined within a specialized analytical framework. The body of empirical evidence is synthesized through four major elements. The analysis starts with the ongoing controversy related to the name of the theory. This is followed by a presentation of the evolution of the theoretical and econometric model. It ends with an analysis of the results of the surveyed empirical studies. Results of the survey indicate that growing body of evidence definitely points towards professional rethinking about the significance of the Harrod-Balassa-Samuelson effect.Harrod Balassa Samuelson effect, real exchange rate, purchasing power parity, productivity
Researching the sacred:A conversation with Samuelson Appau, Russ Belk and Diego Rinallo
No full textPurposeOnce the domain of theologians, sociologists and (religion) anthropologists, we have seen more recently how consumer researchers have enriched the study of spirituality and religion. Researching the sacred can be fraught with challenges, in and out of the field. Russell Belk, Samuelson Appau and Diego Rinallo address key questions, issues and conceptualisations in the scholarship on sacred consumption, contemplating the past and mapping future research avenues. A reading list is also included for those interested in joining the authors in this collective discovery of the sacred.Design/methodology/approachContributors answered the following four questions: How has the study of sacred consumption evolved since you started researching the field? What would be the critical methodological issues that researchers need to consider when approaching the “sacred”? What are some of the key authors that have influenced your thinking? What do you think will be the key questions that researchers will need to focus on?FindingsRinallo, Belk and Appau’s reflections on studying the sacred provide food for thought for both novice and weathered researchers alike. Researching the sacred both shapes and is shaped by our positionality: by our insider/outsider status, our gender and race and our cosmovisions as believers or sceptics. Researchers should be mindful and reflective of their subject positionings as they approach, enter and leave the field. Researching the sacred requires an open mind as we broaden our vision of what constitutes the sacred. Such research calls for scholarly as well as phenomenological curiosity. Reading widely and across disciplines to better familiarise ourselves with our sacred context helps to craft novel and meaningful research.Originality/valueThis paper provides a multivocal genealogy of consumer culture work on religion and spirituality, methodological advice and reading resources for researchers
The Political Economy of Textbook Writing: Paul Samuelson and the making of the first ten Editions of Economics (1945-1976)
No full textOver the past two decades, numerous contributions to the history of economics have tried to assess Paul Samuelson’s political positioning by tracing it in the subsequent editions of his famous textbook Economics. This literature, however, has provided no consensus about the location of Samuelson’s political ideas. While some authors believe that Samuelson has always had inclinations toward interventionism, others conclude that he more often acted as a pro-business advocate. The purpose of this paper is not to argue for one of these two interpretations but to depict the making of Economics itself as a political process. By ‘political’ it is not meant the conduct of party politics but the many political elements that a textbook author has to take into account if he wants to be published and favorably received. I argue that the “middle of the road” stance that Samuelson adopted in the book was consciously constructed by the MIT economist, with the help of his home institution and his publishing company, McGraw-Hill, to ensure both academic freedom and the success of the book. The reason for which the stance developed is related to pre-McCarthyist right-wing criticisms of the textbook and how Samuelson and the MIT department had to endure the pressures from members of the Corporation (MIT’s Board of Trustees), who tried to prevent the publication of the textbook and threatened Samuelson’s tenure at MIT as soon as 1947 – when early manuscripts were circulated. As a result, it was decided in accordance with both the Corporation and McGraw-Hill that the Readings volume would be published to balance conflicting ideas about state intervention. Following these early criticisms, the making of the subsequent editions relied on a network of instructors and referees all over the US in order to make it as successful and consensual as possible. This seemed to work quite well in the 1950s and for a good portion of the 1960s, until Economics became victim of its own success and was seen, in an ironical twist of fate, as a right wing text by younger, radical economists. From now on, Samuelson will try to have his book sent as often as possible to the radicals for referring process, with mixed results. Eventually, the book became criticized from both its left and its right.Paul Samuelson, Economics, Textbook, Politics, Economic Education
The Balassa-Samuelson Effect in 'East & West'. Differences and Similarities
No full textBased on two detailed Balassa-Samuelson (BS) studies, Wagner and Hlouskova (2004) for eight Central Eastern European countries (CEECs) and Wagner and Doytchinov (2004) for ten Western European countries (WECs), this study assesses the differences and similarities of the BS effect between these two country groups. The econometric results show that the BS effect may have been overestimated in previous studies due to application of inappropriate first generation panel cointegration methods. When appropriately quantified, the BS effect itself explains RER movements respectively inflation differentials only to a small extent. However, extended BS relationships that include additional variables allow for an adequate modelling of inflation. Based on the comparative analysis we draw some conclusions for monetary policy in the future enlarged Euro Area.Balassa-Samuelson effect, Central and Eastern Europe, Western Europe, Non-stationary panels, Inflation simulations
Theorizing consumption and markets in the context of religion : a commentary section on Appau's (2021) "divine economic system"
No full textThis commentary section presents a dialogical discussion on Appau's (2021) "Toward a divine economic system", an article in which he explores religious exchanges in the context of a Pentecostal Church in Ghana and proposes "the divine economy" as an alternative economic system to interrogate and extend scholarship on the relationship between the market and religion. In a thought-provoking conversation, four commentators (including Appau) engage in a critical discussion aimed at generating new ideas on theorizing the complex relationship between the market, consumption, and religion
Witchcraft Accusations and the Social Exclusion of the Elderly in Northern Ghana: Understanding How Cultural Discourses and Practices Affect the Wellbeing of the Elderly
No full textThis chapter examines the discourse on the relationship between culture and wellbeing of elderly persons, based on ethnographic study of accused witches in northern Ghana. The authors find that elderly people are mostly accused of witchcraft and are violently banished from their communities to live in witch camps; this has serious negative impacts on their wellbeing. The chapter therefore problematizes and examines the aspects of cultural practices and discourses that legitimize such ill-treatment of elderly persons. The authors also discuss implications for policy, government and other agencies working with the elderly to improve their wellbeing
Comparative Statics, English Auctions, and the Stolper-Samuelson Theorem
No full textChanges in the parameters of an -dimensional system of equations induce changes in its solutions. For a class of such systems, we determine the qualitative change in solutions given certain qualitative changes in parameters. Our methods and results are elementary yet useful. They highlight the existence of a common thread, our ``own effect'' assumption, in formally diverse areas of economics. We discuss several applications; among them, we establish the existence of efficient equilibria in English auctions with interdependent valuations, and a version of the Stolper-Samuelson Theorem for an trade model.effficient auctions, international trade theory, implicit function theorem
Africa Is Not a Country: Rebranding and Repositioning Africa as a Continent
No full textWhat comes to mind when you hear about Africa? Not surprised most people perceive Africa as country, oblivious to the fact it is made up of several sovereign nations. The prevalent perception about Africa is that of poverty, war, pestilence, and primitivity. However, with many opportunities being presented about the continent, especially its impending contribution to the global economy there is a need to question whether the prevalent perception is accurate and if not, how to ensure that the opinions and thinking the rest of the world has of Africa and her countries needs to be changed. In this regard, this chapter aims to discuss Africa's context as a brand and recognise the inherent challenges and the existing perception that has shaped the brand. This chapter contributes to existing knowledge on place branding, especially from a continent perspective and presents practical implications relevant for practitioners, policymakers and place branding researchers
Unbranded : the challenges of branding for Africa's informal economy
No full textThe informal economy’s strategic positioning in Africa’s economic and social landscape creates a unique opportunity for marketers to explore the challenges and opportunities for brand building in this complex context. The purpose of this chapter is to expand the discussion on brand building in Africa from the vantage point of the informal economy to identify challenges and benefits and missed opportunities and prospects. A roadmap that can be used to accelerate and improve brand building in the informal marketing is then outlined. In so doing the chapter raises the following pertinent question: Could the informal economy be the key for marketers to unlock potential opportunities for tapping on the proverbial low hanging fruit for brand building among the often-ignored majority consumers in Africa
Balassa- samuelson effect’ in eu.
No full textBalassa- Samuelson effect’ in EU. 66 pages, 14 charts, 6 tables, 22 formulas, 48 references. The main purpose of this master thesis is to evaluate the Balassa-Samuelson effect in European Union. The thesis is composed of three main parts each of them dealing with different aspects of Balassa-Samuelson effect. Literature analysis describes the concept of Balassa-Samuelson effect, explains main assumptions of this effect, clarifies the importance of Balassa-Samuelson effect to monetary policy and monetary unions, focuses on different methods to estimate the Balassa-Samuelson effect and points out the caveats of this effect as well as reviews the degree of investigation of the Balassa-Samuelson effect in Europe. After the literature analysis the author has defined the methodology to evalutate the Balassa-Samuelson effect in European Union. The Balassa-Samuelson effect was evaluated in eleven countries of European Union which GDP per capita were lower than euro area (19 countries) BDP per capita and which are members of euro area i. e. Estonia, Greece, Spain, Italy, Cyprus, Latvia, Lithuania, Malta, Portugal, Slovenia and Slovakia. It is worth mentioning that the evaluation of Balassa-Samuelson effect was made for each country individually not as a part of panel data. Furthermore, two different types of inflation were used: common inflation indicator and inflation excluding energy indicator in order to distinguish the influence of energy price. The results analysis of evaluated Balassa-Samuelson effect examines the existence of the assumptions of the Balassa-Samuelson effect in Spain, Italy, Lithuania and Slovakia as well as evaluates the Balassa-Samuelson effect in European Union using two different types of inflation: common inflation indicator and inflation excluding energy indicator. The conclusions summarise the main concept of literature analysis and the results of the performed research. Results of data analysed show that Balassa Samuelson effect using common inflation indicator exists in Italy, Latvia, Lithuania, Malta and Slovakia. The effect in these countries ranges from 0,18 per cent in Italy to 1,08 per cent in Lithuania. On the other hand, Balassa-Samuelson effect using inflation excluding energy indicator exists in Greece, Cyprus, Lithuania, Malta, Slovenia and Slovakia. The effect in these countries ranges from 0,01 per cent in Greece to 0,66 per cent in Lithuania
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