780 research outputs found
The Italian block of the ESCB multi-country model
No full textThis paper documents the structure, estimation and simulation properties of the Italian block of the ESCB-multi-country model (MCM). The model is used regularly as an input into Eurosystem projection exercises and, to a lesser extent, in simulation analysis. The specification of the Italian model follows closely that of the Area-Wide Model (AWM) and indeed the other MCM country blocks (in terms of specification and accounting framework). The MCM is a quarterly estimated structural macroeconomic model that treats the economy in a relatively closed manner. It has a long-run classical equilibrium with a vertical Phillips curve but with some short-run frictions in price/wage setting and factor demands. Consequently, activity is demand-determined in the short-run but supply-determined in the longer run with employment having converged to a level consistent with an exogenously given level of equilibrium unemployment. The precise properties of the model are illustrated using a number of standard variant simulations. JEL Classification: C3, C5, E1, E2Italy, Macro-econometric Modelling
Transnational migrant entrepreneurship, gender and family business
No full textDespite increased academic attention paid to migration flows in Europe, the gendered nature of transnational migrant entrepreneurial journeys within the context of a family business remains under-researched. We address this gap by investigating how transnational spaces allow women to challenge dominant ideas about their roles, and to claim legitimacy by opening branches of their family business abroad. With extensive longitudinal evidence collected over a seven-year period, we showcase four biographical narratives of women operating transnational family businesses in the UK that had originated in Eastern Europe. Adopting this novel longitudinal approach, we provide insights into how these transnational migrant women entrepreneurs exercise individual agency to overcome structural constraints by developing strategies that prioritize their own business aspirations without fully sacrificing their family ties.</p
McAdam Brothers are putting up their store in the post office building
No full textMcAdam Brothers are putting up their store in the post office building, preparatory to making the Sault the headquarters for the division of their railroad news system. They operate the news line on the DSS&A from Marquette east
Negotiating the real: Culture and fantastical fiction 1843-1973
No full textThis dissertation examines the growth and practice of two distinct reading techniques, with reference to fantastical fiction from і 843 to 1973. While acknowledging that specific reading practices are not exclusive to particular groups or individuals, it is proposed, broadly, that readers fall into two categories: those who tend to be distanced from the text and approach it analytically; those who tend to embrace the text and immerse themselves in its narrative. These two groups, critical readers and experience readers, have their reading habits determined by basic philosophical assumptions. One aim of the dissertation is to explore the link between this division and divisions within the literary hierarchy, articulating a methodology/typology of reading. Criticism of texts in this dissertation involves discussion of the above hypothesis, assessing the value assigned to literary works by each group of reader and considering how the texts themselves investigate the hypothesis. Various theories and critical concepts are engaged with, including those of Marxist aesthetics, psychoanalysis, liberal humanism, cultural studies, and postmodernism. The aim is to demonstrate the practice of both reading techniques and to draw conclusions concerning their respective psychological and social significance. The dissertation argues that fantastical fiction is often a site of interaction between such binary opposites as realism/fantasy, high/popular, ideas/escape, and polemic/amusing. The struggle between these opposites may provide a dialectic of ''critical'" and ''experience" reading
The monetary transmission mechanism at the euro-area level: issues and results using structural macroeconomic models
No full textThis paper addresses some of the issues faced by macroeconomic model builders in analysing the monetary transmission mechanism. These include the sensitivity of the policy simulation results to changes in the monetary and fiscal policy rule and the introduction of forward-looking behaviour in the model. To illustrate the importance of these issues the paper reports the results of variant monetary policy simulations at the euro-area level using the AWM and NiGEM models JEL Classification: C50, C52, E5euro area, macro models, monetary transmission mechanism
Disaggregate Real Exchange Rate Behaviour
No full textIn this paper, we re-examine the “PPP Puzzle†using sectoral disaggregated data. Specifically, we first analyse the mean reversion speeds of real exchange rates for a number of different sectors in 11 industrial economies and then focus on relating these rates to variables identified in the literature as key determinants of CPI-based real exchange rates, namely: the trade balance, productivity and the mark up. In particular, we seek to understand to what extent the relationships existing at the aggregate level are borne out at the disaggregate level. We believe that this analysis can help shed light on the PPP puzzle. Copyright Springer Science+Business Media, LLC 2007Real exchange rates, Sectoral prices, Panel data methods, F31, F41, C33,
Curriculum Area Impact Project in Sciences 3-18:Report Launch
No full textIn her role as Development Officer for Sciences 3-18 at Education Scotland, Lauren was involved in development of the Curriculum Area Impact Project Report in Sciences 3-18. The Report was launched at this presentation at the Scottish Learning Festival, by lead author Marie McAdam, HMIE, and Lauren. Both went on to take the next steps in engaging practitioners with the messages of the report, including a blog and a series of 'national conversations' around science learning in Scotland, bringing together practitioners, teachers, pupils, and stakeholders including further and higher education and industry and business representatives to take forward science education in Curriculum for Excellence. The report was subsequently updated in September 2013 to reflect continuing development in practice in Scotland's schools
Curriculum Area Impact Project in Sciences 3-18:Report Launch
No full textIn her role as Development Officer for Sciences 3-18 at Education Scotland, Lauren was involved in development of the Curriculum Area Impact Project Report in Sciences 3-18. The Report was launched at this presentation at the Scottish Learning Festival, by lead author Marie McAdam, HMIE, and Lauren. Both went on to take the next steps in engaging practitioners with the messages of the report, including a blog and a series of 'national conversations' around science learning in Scotland, bringing together practitioners, teachers, pupils, and stakeholders including further and higher education and industry and business representatives to take forward science education in Curriculum for Excellence. The report was subsequently updated in September 2013 to reflect continuing development in practice in Scotland's schools
Medium run redux: technical change, factor shares and frictions in the euro area
No full textWe develop a framework for analyzing “medium-run” departures from balanced growth, and apply it to the economies of continental Europe. A time-varying factor-augmenting production function (mimicking “directed” technical change) with a below-unitary substitution elasticity coupled with supporting short-run factor demands (and price setting) is shown to account for the observed dynamics of factor incomes shares, capital deepening and the capital-output ratio. Based on careful data accounting, we also identify a rising mark-up, which we ascribe to the rise of Services. The balanced growth path emerges as a special (and testable) case of our framework, as do existing strands of medium-run debates. JEL Classification: C22, E23, E25, O30, O51adjustment costs, Effective Labor Hours, Elasticity of Substitution, euro area, Factor-Augmenting Technical Progress, Income Distribution, Medium Run, productivity
Technology, utilization and inflation: what drives the New Keynesian Phillips Curve?
No full textWe argue that the New-Keynesian Phillips Curve literature has failed to deliver a convincing measure of “fundamental inflation”. We start from a careful modeling of optimal price setting allowing for non-unitary factor substitution, non-neutral technical change and timevarying factor utilization rates. This ensures the resulting real marginal cost measures match volatility reductions and level changes witnessed in many US time series. The cost measure comprises conventional counter-cyclical cost elements plus pro-cyclical (and co-varying) utilization rates. Although pro-cyclical elements dominate, real marginal costs are becoming less cyclical over time. Incorporating this richer driving variable produces more plausible price-stickiness estimates than otherwise and suggests a more balanced weight of backward and forward-looking inflation expectations than commonly found. Our results challenge existing views of inflation determinants and have important implications for modeling inflation in New-Keynesian models. JEL Classification: E20, E30cyclicality, inflation, intensive labor, Labor Share, overtime premia, production function, real marginal costs, utilization
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