533 research outputs found
Studies in disaggregated macro modelling with special reference to the U.K.'s external trade
No full textThis thesis consists of seven papers, which, although unrelated, have a common theme, in that the empirical applications utilize more information than is normally used in most macro economic modelling. The richest source of more information is when data is available not only at an aggregate level for an economy as a whole but also at the level of individual industries. There is then a more specific problem how to utilize this mass of information to improve our understanding of how an economy works. Three of the papers deal with a narrow aspect of this, whether to estimate the parameters of interest from aggregate or disaggregate (industry) data, while another paper attempts to identify the reasons behind differences in industry behaviour. Of the remaining, the common theme occurs in the estimation of import equations when data on both imports and domestic output are used, in a model of bilateral trade flows, and in a model of earnings where there are several measure os the regressand. All but one of the empirical models are restricted multivariate regression models, the exception being a paper in which the components of the covariance structure are estimated by maximum likelihood methods.</p
By Chance or Choice: The Regulation of the Apprenticeship System in Australia, 1900-1930
No full textThis paper traces the process whereby the apprenticeship system came to be regulated by industrial tribunals during the period 1900 to 1930. It describes how the regulation emerged, the motives that underpinned it, and the wider political debate about the apprenticeship system at the time. It then goes on to assess the effect of this regulation. This assessment is informed by an underlying theoretical perspective and draws on the contemporary debate and the outcomes that can be observed. While the question of primary interest is the efficiency of the regulatory regime that emerged, broader considerations are invoked. What was set in place in the early part of the 20th century has continued to shape the how the apprenticeship system has developed since then. For that reason, the future development of the apprenticeship system may be a more relevant indicator of outcomes than the contemporary facts.apprenticeship, trade unions, arbitration, Australia
Identiteter och världsbild : "hårdkokt" skriftbruk i Thorsten Jonssons noveller
No full textidentity and worldview – “hard-boiled” writing in Thorsten Jonsson’s short storiesThis article deals with the Swedish author Thorsten Jonsson (1910–50) and his first short story collection Som det brukar vara (1939) [‘As it usually is’]. The nar- rative represents a new modernistic literary trend in Swedish prose in the 1930s. i take my starting point in Burgess & ivanič’s (2010) theories of the act of writing involving many different identities, and particularly what Burgess & ivanič iden- tify as the discursive self. By contemporary readers and critics the discursive self in the short story collection was often connected with an American hard-boiled literary ideal, often linked to ernest Hemingway’s writings. in this article i dis- cuss the common textual features of the two authors’ first collections, but also the differences that emerge when looking through the linguistic surface. The analysis shows that Thorsten Jonsson’s discursive self is based upon a northern Swedish culture, Hemingway’s on an urban American one. </p
Measures of excess liquidity
No full textThe aim of this note is to provide an overview of various measures of excess liquidity, which can be defined as the deviation of the actual stock of money from an estimated equilibrium level. Given their dynamic nature, the excess liquidity measures under review are - in the light of long and variable lags of monetary policy - very useful tools to quantify future price pressures. In addition, excess liquidity measures consider inflation as a purely monetary phenomenon: neither the output gap nor liquidity gap - although both form an integral part of the concepts - an be held responsible for inducing a persistent rise in the price level. Despite strong theoretical support, the usefulness of excess liquidity measures depends on the stability of money demand, a question which has of course to be answered in the realm of empirical research. --P-star,excess liquidity,monetary policy,ECB
A case for money in the ECB monetary policy strategy
No full textOne major outcome of the review of the ECBs two pillar monetary policy strategy, which was published on 8 May 2003, has been the de facto downgrading of the hitherto prominent role assigned to the stock of money. According to the authors judgement, however, there is a strong theoretical and empirical rationale for the ECB monetary policy to pay close attention to the information content of money in the form of M3. However, the authors argue the ECB should make use of the so-called price gap or real money gap concept rather than the reference value as the latter runs the risk of giving misleading policy recommendations and compromising the indicator quality of the stock of money. Making use of M3 seems all the more rational as currently no better inflation indicator appears to exist in providing inflation forecasts in the euro area. --P-star,real money gap,excess liquidity,ECB
Earnings, Schooling and Vocational Education and Training
No full textYoung persons who do not go on to university face two main educational choices; whether to complete Year 12 and/or whether to undertake a vocational (VET) qualification. These two choices are independent. Both early leavers and completers may subsequently obtain a VET qualification. However, the parametric models that are commonly used to analyse the causal effect of education presume that educational attainments form an ordered sequence. This has the effect of restricting the effects of educational attainments on earnings. This paper departs from this restrictive approach. It estimates the effect of Year 12 completion and VET qualifications on early career earnings using both a single and multiple treatment-effect approach. By using matching methods to estimate these effects, it also allows for the effects of educational qualifications differ between persons. It is found that neither completion of Year 12 nor a VET qualification has an effect on early career earnings over and above the forgone experience
Why is unemployment so high in Bulgaria?
No full textThe author seeks to determine the main factors behind poor labor market outcomes in Bulgaria. Unemployment in Bulgaria is high and of long duration. The accumulation of the unemployment stock has been caused by relatively high inflows into unemployment coupled with limited outflows. These features of the Bulgarian labor market are typical of other transition economies in Central Europe and exploring their sources is of broad interest. The author focuses on determinants of and constraints to job creation. He uses data on job creation and job destruction from a survey of employment in all registered firms. He finds that the source of large inflows into unemployment is intensive enterprise restructuring associated with a high pace of job reallocation. However, job creation falls short of job destruction. Three main factors account for the limited job creation and hiring, and thus for low outflows from unemployment: a) The unfriendly business environment, reflected by a low rate of new firm formation, and a relatively small, small and medium enterprise sector. b) Labor market rigidities, including excessive hiring and firing costs. c) Skill and spatial mismatches brought about by enterprise restructuring, as well as low skills and marginalization of the long-term unemployed who cannot successfully compete for new jobs. The author recommends a three pronged strategy to improve labor market performance: (1) removing bureaucratic constraints to entry and expansion of firms; (2) enhancing labor market flexibility through lowering hiring and firing costs; and (3) improving the educational system so as to equip workers with broad and portable skills.Environmental Economics&Policies,Labor Policies,Labor Markets,Public Health Promotion,Health Monitoring&Evaluation,Environmental Economics&Policies,Labor Markets,Health Monitoring&Evaluation,Labor Standards,Banks&Banking Reform
Improvements to the Secure Construction and Utilization of Greedy Embeddings in Friend-to-Friend Overlays
No full textRouting based on greedy network embeddings enables efficient and privacy-preserving routing in overlays where connectivity is restricted to mutually trusted nodes. In previous works, we proposed security enhancements to the embedding and routing procedures to protect against denial-of-service attacks by malicious overlay participants. In this work, we propose an improved timeout scheme to reduce the stabilization overhead of secure tree maintenance in response to node failures and malicious behavior. Furthermore, we present an attack-resistant packet replication scheme that leverages alternative paths discovered during routing
- …
