B. Littleboy and G. Mehta
The great stimulus to macroeconomic theory provided by Keynes is well recognised, but much less is said about his views on scientific methodology and his influence there. There is…
Abstract
The great stimulus to macroeconomic theory provided by Keynes is well recognised, but much less is said about his views on scientific methodology and his influence there. There is a widespread belief among economists that Keynes was an a priori thinker who dealt with “facts” and empirical material in a cavalier and high‐handed manner. We question the validity of this interpretation and give evidence to show that Keynes' methodology was not hostile to empiricism.
THE Society of Bookmen have been interesting themselves in a practical manner in connection with the question of the reprinting of important non‐copyright books which do not…
Abstract
THE Society of Bookmen have been interesting themselves in a practical manner in connection with the question of the reprinting of important non‐copyright books which do not appear on publishers' lists. The subject is one of interest to librarians, most of whom have experienced great difficulty since the war in replacing worn‐out copies of a number of important books. Doubtless as time goes on the ravages of war in this matter will be remedied, but at the moment the attitude of the Society of Bookmen deserves commendation. There is little likelihood that the Society will be faced by any serious financial obligations in the matter, as publishers are only too glad to meet a generally‐expressed demand for reprints of non‐copyright books. As a matter of fact, the ground is being slowly gone over, and every publishing season sees a succession of reprints of such works. One of the best we have seen is from the very literary house of Gowans and Gray, of Glasgow, who have done credit to themselves, to Scott, and to Scotland by issuing a long‐overdue reprint of the delightful “Tales of a Grandfather.” Saintsbury calls this “the soundest thing” that has yet been written on Scottish history, and we in turn would commend it both to our readers and to the Society of Bookmen as an example of how a library edition should be produced. From the point of view of library readers we might express the wish that there were more historical works produced in the same useful form and excitingly readable style.
Aristeidis Samitas and Stathis Polyzos
The purpose of this paper is to propose an object-oriented model of financial simulations which aims to test the applicability and suitability of the proposed measures of Basel…
Abstract
Purpose
The purpose of this paper is to propose an object-oriented model of financial simulations which aims to test the applicability and suitability of the proposed measures of Basel III with respect to the prevention of banking crises.
Design/methodology/approach
The authors introduce an object-oriented model of financial simulations in the banking sector, namely, virtual banking (VBanking). The system is based on behavioural simulation of economic agents and allows for transactions between them, using various forms of financial assets. VBanking has been implemented as an automated stand-alone model, allowing for repetitive simulations under the same parameter sets, producing an efficient series of statistical data.
Findings
Interpretation of the resulting data suggests that some of the criticism against the proposed measures is justified, as neither economic crises nor contagion are diminished under Basel III. At the same time, the authors’ findings support that the stability goal is met, at least in part.
Research limitations/implications
The model encompasses a relatively small part of the banking sector, while the authors choose not to deal with the production part of the economy. However, these limitations do not hinder the validity and importance of the authors’ findings.
Originality/value
The originality of this article lies in the use of an object-oriented behavioural model and in the resulting model application that is based on it. This enables the authors to run a series of simulations with different parameters, the results of which the authors can then compare. The authors’ findings can contribute to the authorities’ efforts to ameliorate the policies of Basel III.
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This article develops an analysis of the conventional formation of expectations by means of introducing an overlooked factor in the analysis: the role of inference. Individual…
Abstract
This article develops an analysis of the conventional formation of expectations by means of introducing an overlooked factor in the analysis: the role of inference. Individual inferences and changes in evidential weight of beliefs and in the state of confidence are integrated with an analysis of the conventional character of expectations in a manner that is consistent with evidence provided by research in social psychology. This approach provides the link between the “agency” approach and the “structure” approach in Keynesian analysis that has been stressed as an important development. It also improves our understanding of the mechanisms underlying economic behavior under uncertainty such as liquidity‐preference in different social and cultural settings.
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New research on the role of habits and rules in working practices could have a significant impact on the way management understands the routines subordinate individuals use and…
Abstract
New research on the role of habits and rules in working practices could have a significant impact on the way management understands the routines subordinate individuals use and how effective change may be brought about. Whilst generally applicable, the benefits of understanding such routines, and how and why they should be encouraged, is highly visible in the public sector where multiple goals are commonplace.
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David Gilbert, Pierre Balestrini and Darren Littleboy
This article examines the reasons individuals would choose electronic self‐service delivery methods over more traditional methods of service delivery for government services. The…
Abstract
This article examines the reasons individuals would choose electronic self‐service delivery methods over more traditional methods of service delivery for government services. The study investigated the factors related to decision making when people consider and evaluate the usage of an online e‐government delivery mechanism. The approach taken was based on a combination of attitudinal technology adoption models and the service quality concept, with data gathered via a questionnaire. Trust, financial security, information quality (all adoption barriers), time and money (both adoption benefits) were found to predict potential usage. That is willingness to use the online delivery option will be present if organisations can develop trust relationships with individuals, assure them that their financial details are secure, provide information that is relevant, accurate and up‐to‐date, and save individuals time and money. The results are significant to the public service manager who needs to consider both the barriers to adoption and the benefits of adoption if they are to develop plans to increase the take‐up of their electronic services.
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Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely…
Abstract
Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.
It is now forty years since there appeared H. R. Plomer's first volume Dictionary of the booksellers and printers who were at work in England, Scotland and Ireland from 1641 to…
Abstract
It is now forty years since there appeared H. R. Plomer's first volume Dictionary of the booksellers and printers who were at work in England, Scotland and Ireland from 1641 to 1667. This has been followed by additional Bibliographical Society publications covering similarly the years up to 1775. From the short sketches given in this series, indicating changes of imprint and type of work undertaken, scholars working with English books issued before the closing years of the eighteenth century have had great assistance in dating the undated and in determining the colour and calibre of any work before it is consulted.
“THACKERAY HOTEL!” The order was given many times during the Easter week end by library assistants, but mainly during Thursday afternoon and evening and Good Friday morning…
Abstract
“THACKERAY HOTEL!” The order was given many times during the Easter week end by library assistants, but mainly during Thursday afternoon and evening and Good Friday morning. Members of the Easter School were arriving from various parts of the country and the Continent, and the metropolitan members were intent upon making all haste to headquarters. No one could be there too soon, and a number of provincials had been fortunate enough to get to town during the earlier part of Thursday. The Hon. Secretary was one of the first arrivals. Officially, his duty to the Association demanded his presence; unofficially, one suspected he was anticipating a good time, but he was entitled to the latter provided he fulfilled the former. Had his enjoyment depended upon the success of his arrangements he would have found it difficult to crowd it into the time the school lasted, for results showed that it would not have been possible to improve the programme or the manner in which it was carried out.