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Article
Publication date: 11 September 2017

Diego Ferreira and Andreza Aparecida Palma

The purpose of this paper is to evaluate whether the effect of inflation uncertainty on inflation has changed over time in Latin America.

369

Abstract

Purpose

The purpose of this paper is to evaluate whether the effect of inflation uncertainty on inflation has changed over time in Latin America.

Design/methodology/approach

The authors use a stochastic volatility in mean (SVM) model with time-varying parameters (TVP) as proposed by Chan (2017).

Findings

Considering inflation series for the last two decades, we report evidences of high uncertainty from 1996 to early 2000s. Moreover, despite being positive throughout the sample, the overall relationship between inflation uncertainty and inflation has changed over the years in Latin America, underscoring the importance of our time-varying specification.

Practical/implication

There are evidences of a greater volatile inflation behavior in the beginning of the sample period in comparison to the last few years. Overall, the considered Latin American economies seem to have endured relatively well the external adverse shocks from the 2008 global financial crisis.

Originality/value

The use of an SVM model with TVP in order to assess the effect of inflation uncertainty on inflation is new to the Latin America literature.

Details

Journal of Economic Studies, vol. 44 no. 4
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 24 September 2020

Diego Ferreira, Andreza Aparecida Palma and Marcos Minoru Hasegawa

This paper analyzes the potential presence of time-varying asymmetries in the preference parameters of the Central Bank of Brazil during the inflation targeting regime.

116

Abstract

Purpose

This paper analyzes the potential presence of time-varying asymmetries in the preference parameters of the Central Bank of Brazil during the inflation targeting regime.

Design/methodology/approach

Given the econometric issues inherent to classical time-varying parameter (TVP) regressions, a Bayesian estimation procedure is implemented in order to provide more robust parameter estimates. A stochastic volatility specification is also included to take into account the potential presence of conditional heteroskedasticity.

Findings

The obtained results show that the reduced form and structural parameters were not constant during the period considered. Moreover, the subsequent analysis of the preference parameters provided evidences of short periods in which asymmetry was an important feature to the conduction of monetary policy in Brazil. Yet, during most of the sample period, the loss function was considered to be symmetrical.

Originality/value

This paper aims to contribute to the rather scarce monetary debate on time-varying central bank preferences. The study of Lopes and Aragón (2014) is, to the best of the authors’ knowledge, the only study for Brazil considering specifically TVPs. The authors applied Kalman filter estimation to data from 2000:M1 to 2011:M12. Despite the similar structure of TVPs, the present paper extends the latter study by controlling for stochastic volatility. Ignoring conditional heteroskedasticity might lead to spurious movements in time-varying variables and inaccurate inference (Hamilton, 2010). Thus, the stochastic volatility specification is included to take this issue into account. The authors follow the theoretical scheme put forward by Surico (2007) and Aragón and Portugal (2010), in which the economy is modeled from a New Keynesian perspective and the central bank loss function is assumed to be asymmetric regarding the responses to inflation and output deviations from their targets. On the empirical side, the authors propose a TVP univariate regression with stochastic volatility for the Brazilian reduced-form reaction function, following closely the Bayesian econometric procedure developed by Nakajima (2011). Given the nonlinear non-Gaussian nature of the TVP regression with stochastic volatility, the choice of a nonlinear Bayesian approach using the Markov chain Monte Carlo (MCMC) method is justified due to the intractability of the associated likelihood function (Primiceri, 2005). Finally, based on the theoretical model specification, the authors intend to recover the central bank preference parameters as to further evaluate the degree of asymmetry and its potential time-variation under the inflation targeting regime.

Details

Journal of Economic Studies, vol. 48 no. 4
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 27 January 2020

Mateus Ferreira, Felipe Zambaldi and Diego de Sousa Guerra

Engagement is a construct that varies according to the subject, object and context; this has been used to justify the coexistence of a variety of construct definitions and scales…

4084

Abstract

Purpose

Engagement is a construct that varies according to the subject, object and context; this has been used to justify the coexistence of a variety of construct definitions and scales. Instead of proposing a new scale, this paper aims to create a procedure for comparing scales and to use it to evaluate brand engagement measures in social media.

Design/methodology/approach

This study first defines a procedure for the selection, standardization and comparison of scales; this procedure considers both the classical test theory (CTT) and item response theory (IRT). The authors apply the procedure in a survey of 233 respondents to compare three scales for measuring consumer engagement with brands in social media.

Findings

The establishment of a procedure for scale comparison is useful in assisting researchers to choose specific measures. Results showed that the three scales have similar characteristics, but Vivek et al.’s (2014) scale is recommended when better discrimination between construct dimensions is required, Hollebeek et al.’s (2014) scale could be used as a one-dimensional scale and Dessart et al.’s (2016) reduced scale has better ability to capture information for the affective and cognitive dimensions. None of the scales were very efficient in discriminating weakly and strongly engaged individuals.

Originality/value

This study makes a substantive contribution by proposing a procedure for scale comparison that considers CTT and IRT and shows the advantages, limitations and recommendations for using three different scales of consumer engagement.

Details

Journal of Product & Brand Management, vol. 29 no. 4
Type: Research Article
ISSN: 1061-0421

Keywords

Available. Open Access. Open Access
Article
Publication date: 26 March 2024

Guilherme de Araujo Grigoli, Maurilio Ferreira Da Silva Júnior and Diego Pereira Pedra

This study aims to identify the main challenges to achieving humanitarian logistics in the context of United Nations peace missions in sub-Saharan Africa and to present…

1716

Abstract

Purpose

This study aims to identify the main challenges to achieving humanitarian logistics in the context of United Nations peace missions in sub-Saharan Africa and to present suggestions for overcoming the logistical gaps encountered.

Design/methodology/approach

The methodological approach of the work focuses on the comparative case study of the United Nations Mission in South Sudan, the United Nations Multidimensional Integrated Stabilisation Mission in the Central African Republic and The United Nations Organisation Stabilisation Mission in the Democratic Republic of Congo from 2014 to 2021. The approach combined a systematic literature review with the authors’ empirical experience as participant observers in each mission, combining theory and practice.

Findings

As a result, six common challenges were identified for carrying out humanitarian logistics in the three peace missions. Each challenge revealed a logistical gap for which an appropriate solution was suggested based on the best practices found in the case study of each mission.

Research limitations/implications

This paper presents limitations when addressing the logistical analysis based on only three countries under the UN mission as a case study, as well as conceiving that certain flaws in the system, in the observed period, are already in the process of correction with the adoption of the 2016–2021 strategy by the UN Global Logistic Cluster. The authors suggest that further studies can be carried out by expanding the number of cases or using countries where other bodies (AU, NATO or EU) work.

Originality/value

To the best of the authors’ knowledge, this study is the first comparative case study of humanitarian logistics on the three principal missions of the UN conducted by academics and practitioners.

Details

Journal of Humanitarian Logistics and Supply Chain Management, vol. 14 no. 4
Type: Research Article
ISSN: 2042-6747

Keywords

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Article
Publication date: 5 October 2022

Márcia Maurer Herter, Adilson Borges, Diego Costa Pinto, Mario Boto Ferreira and Anna S. Mattila

This research examines how construal level shapes the effectiveness of rational (vs emotional) messages for inducing cessation behaviors. Concrete mindsets foster self-improvement…

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Abstract

Purpose

This research examines how construal level shapes the effectiveness of rational (vs emotional) messages for inducing cessation behaviors. Concrete mindsets foster self-improvement goals, whereas abstract mindsets boost self-relevance goals.

Design/methodology/approach

In four studies, this research examines the moderating role of construal level on health messages and the underlying mechanism of goal pursuit.

Findings

Results demonstrate that concrete (vs abstract) mindsets increase consumers’ intent to engage in cessation behaviors when exposed to rational (vs emotional) messages. Consistent with this study’s theorizing, the authors found that self-improvement goals underlie the effects for concrete mindsets, whereas self-relevance goals mediate the effects for abstract mindsets.

Research limitations/implications

The reported effects are limited to health messages focusing on cessation behaviors.

Practical implications

This research can help public policymakers to design more effective health messages to foster specific cessation behaviors – quitting smoking and reducing drinking – focusing on concrete (vs abstract) mindsets and rational (vs emotional) messages.

Originality/value

This investigation highlights construal level as an important moderator for message appeals (rational vs emotional) on cessation behaviors, along with the underlying mechanism of goal pursuit, thus contributing to health marketing literature.

Details

European Journal of Marketing, vol. 56 no. 12
Type: Research Article
ISSN: 0309-0566

Keywords

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Article
Publication date: 20 August 2024

Diego A. de J. Pacheco and Daniel Møller Clausen

In response to multiple disruptions, the purchasing supply management (PSM) function in construction supply chain management (CSCM) has gained prominence due to stakeholder…

247

Abstract

Purpose

In response to multiple disruptions, the purchasing supply management (PSM) function in construction supply chain management (CSCM) has gained prominence due to stakeholder pressures, dynamic market conditions and the need to adhere to complex sustainability, safety and health regulations and standards. However, there is a noticeable absence of empirical research on measuring and mitigating PSM vulnerabilities, especially considering the distinct challenges faced by large engineer-to-order project-oriented manufacturers. To address these issues, the purpose of this study is to develop and test a novel method to assist companies in construction supply chains in assessing and managing risks associated with sustainable procuring and sourcing materials.

Design/methodology/approach

Grounded in the literature gaps on construction PSM and a real case supply chain, the research uses the design science research (DSR) approach to develop an integrated method for assessing PSM strategies in this sector. The method integrates three essential purchasing dimensions: supply risks, profit impact and sustainability risks of materials, supported by nine subdimensions. Empirical validation took place within a multinational European construction company based in Denmark.

Findings

Findings from the supplier–buyer relationships confirmed that the developed method allows for the identification of the key components that significantly impact supplier–buyer relationships, profitability and sustainability. The research further suggests that construction supply chain managers and purchasing practitioners can use the proposed method to evaluate PSM, thus enabling them to make more informed decisions.

Practical implications

Through the utilization of the proposed artifact, construction companies can take a more proactive approach to address PSM uncertainties, thereby enhancing their competitiveness in dynamic construction supply chains.

Originality/value

The research contributes to bridging the theory and practice, providing valuable assistance for construction companies assessing and managing the PSM and supply risks within global construction value chains. This paper provides original insights for the CSCM, aiding in adopting competitive PSM strategies to improve overall supply chain performance.

Details

Supply Chain Management: An International Journal, vol. 29 no. 6
Type: Research Article
ISSN: 1359-8546

Keywords

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Article
Publication date: 14 October 2021

Ankit Kumar Srivastava, A.N. Tiwari and S.N. Singh

This paper aims to accurately estimate harmonics/interharmonics in modern power system. There are several high spectral resolution techniques that have been in use for several…

122

Abstract

Purpose

This paper aims to accurately estimate harmonics/interharmonics in modern power system. There are several high spectral resolution techniques that have been in use for several years like Estimation of Signal Parameters via Rotational Invariance Technique (ESPRIT), Prony methods, etc. but these techniques require prior knowledge of number of modes present in the signal. Model Order (MO) estimation techniques have to make a trade-off between accuracy and their speed i.e., computational burden. Therefore, there is always a requirement of a technique that is fast as well as accurate.

Design/methodology/approach

The proposed standard deviation (SD) method eliminates the requirement of energy validation test and analyses the distribution pattern, i.e. standard deviation of eigenvalues to identify the number of modes present in the signal. Signal is reconstructed using estimated modes and reconstruction error is obtained to show accuracy of the proposed estimation.

Findings

Six test synthetic signals as well as one practical signal have been taken for validating the proposed method. The paper shows that proposed methodology has a better accuracy compared to modified exact model order (MEMO) method in high noise environment and takes very less computation time compared to the exact model order (EMO) method.

Practical implications

The proposed method has been practically implemented for harmonic/interharmonic analysis at a sewage treatment plant at GIFT City, Gujarat, India. Apart from this the proposed method is modeled in python-based tool and is run into low-cost Raspberry Pi like hardware to create an onsite as well as remote monitoring device.

Originality/value

SD-based approach for model order estimation is novel to this area. Further, the proposed method is compared with EMO and MEMO under varying noise conditions to check for accuracy and estimation time.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering , vol. 40 no. 6
Type: Research Article
ISSN: 0332-1649

Keywords

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Article
Publication date: 13 June 2022

Cecilia Souto Maior, Danielle Mantovani, Diego Costa Pinto and Mário Boto Ferreira

Earlier research indicates that brand choices may display different identity signals, such as altruism and benevolence for green brands or high status and exclusiveness for…

624

Abstract

Purpose

Earlier research indicates that brand choices may display different identity signals, such as altruism and benevolence for green brands or high status and exclusiveness for premium brands. This research adds to the literature by exploring how opting for green (vs premium) brands leads consumers to feel authentic (vs hubristic) pride.

Design/methodology/approach

Three experimental studies were conducted to test the hypotheses related to green versus premium choices (Studies 1–3), public accountability (Study 2) and the underlying process of anticipated judgment (Study 3).

Findings

The findings reveal that choosing a green (vs premium) brand results in higher authentic pride and lower hubristic pride. However, the green pride effects were only observed when consumers' brand choices were publicly accountable. Finally, anticipated judgment mediates changes in authentic pride driven by green (vs premium) brands.

Originality/value

The study findings contribute preponderantly to the green consumer behavior literature and practice by providing primary evidence that green (vs premium) branding can trigger distinct patterns of pride in comparative decisions.

Details

Marketing Intelligence & Planning, vol. 40 no. 7
Type: Research Article
ISSN: 0263-4503

Keywords

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Article
Publication date: 23 August 2020

Diego Silveira Pacheco de Oliveira and Gabriel Caldas Montes

Credit rating agencies (CRAs) are perceived as highly influential in the financial system since their announcements can affect several players in the financial markets, from big…

148

Abstract

Purpose

Credit rating agencies (CRAs) are perceived as highly influential in the financial system since their announcements can affect several players in the financial markets, from big private financial and non-financial companies and their financial markets experts to sovereign states. In this sense, this study investigates whether sovereign credit news issued by CRAs (measured by comprehensive credit rating (CCR) variables) affect the uncertainties about the exchange rate in the future (captured by the disagreement about exchange rate expectations). The study is relevant once there is evidence indicating that CRAs' assessments are responsible for affecting international capital flows and, thus, sovereign rating changes can affect the expectations formation process regarding the exchange rate. In addition, there is evidence indicating that the disagreement about exchange rate expectations affects the disagreement about inflation expectations, which brings consequences to policymakers.

Design/methodology/approach

The dependent variables are the disagreement in expectations about the Brazilian exchange rate for different forecast horizons, 12, 24 and 36 months ahead and the first principal component of theses series. On the other hand, the CCR variables are built upon the long-term foreign-currency Brazilian bonds ratings, outlooks and credit watches provided by the main CRAs. Estimates are obtained using ordinary least squares (OLS) and generalized method of moments (GMM); a dynamic analysis is performed using vector-autoregressive (VAR) through impulse-response functions.

Findings

Negative (positive) sovereign credit news, given by a rating downgrade (upgrade) and/or a negative (positive) outlook/watch status, increase (decrease) the disagreement about exchange rate expectations. This result holds for all disagreement and CCR variables.

Practical implications

The study brings practical implications to both private agents (mainly financial market experts) and policymakers. An important practical implication of the study concerns the ability of CRAs to affect the expectations formation process of financial market experts regarding the future behavior of the exchange rate. When a CRA issues a signal of improvement in a country's sovereign rating, this signal reflects the perception of improvement in macroeconomic fundamentals and reduction of uncertainties about the country's ability to honor its financial obligations, which therefore, facilitates the expectations formation process, causing a reduction in the disagreement about the exchange rate expectations. With respect to the consequences for policymakers, they will have more difficulty in guiding expectations in a country with a worse sovereign risk rating, where agents have difficulties in forming expectations and the disagreement in expectations is greater.

Originality/value

The study is the first to analyze the impact of CRAs' announcements on the disagreement about exchange rate expectations. Moreover, it connects the literature that investigates the effects of sovereign credit news on the economy with the literature that examines the main determinants of disagreement in expectations about macroeconomic variables.

Details

Journal of Economic Studies, vol. 48 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Available. Content available
Book part
Publication date: 27 September 2021

Abstract

Details

Tourism Microentrepreneurship
Type: Book
ISBN: 978-1-83867-463-2

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