Muhammad Ali Nasir and Justine Simpson
The purpose of this paper is to analyse the implications of exchange rate depreciation for inflation targeting and trade balance of UK in the context of the Brexit epoch.
Abstract
Purpose
The purpose of this paper is to analyse the implications of exchange rate depreciation for inflation targeting and trade balance of UK in the context of the Brexit epoch.
Design/methodology/approach
The study employed a time-varying structural vector auto-regression (TVSVAR) model framework in which the sources of time variation were both the coefficients and variance-covariance matrix of the innovations on the data from January 1989 to September 2016.
Findings
The findings suggest that the depreciation of the Stirling has significant effects on inflation and trade balance in UK in context of Brexit epoch. It also showed that such a depreciation can be helpful in the improvement of external balance as well as steering the inflation to its statutory target. Despite, the inflation targeting, there is strong evidence of a pass-through.
Research limitations/implications
Research has profound implications in terms of the sharp depreciation of GBP associated with the Brexit outcome. The study is very topical and could be very interesting to the readership of JES as well as wider audience. The study has limitations in a context that the significance of the results and association of the under analysis entities is contingent on the future trade relationships and Channel between UK and EU. Therefore, although there is a lot of uncertainty about the future of Britain trade relationships, this study provides guidance on the importance of exchange rate channel if the similar trade arrangements prevails in the post-Brexit era.
Practical implications
The research has profound practical implications, using a TVSVAR model in which the relationship among the entities varies over time; it has shown the importance of exchange rate in terms of external balance and inflation targeting. Hence, it has appeal for the practitioners as well as academics.
Social implications
The research has great social implications. The Brexit is the biggest political and economic event of this era for UK and EU. There are big questions about the relationship between UK and EU in the post-Brexit epoch as well as questions about the future of the European integration. In this context, this study has shown that how the exchange rate could play an important role for the UK economy when its contemporary trade channels prevail. Concomitantly, it has social implications particularly for the European society.
Originality/value
The research is an original piece of work. It has contributed to the debate on the exchange rate deprecation, external balance and inflation targeting in context of the Brexit associated sharp depreciation of Stirling. It has used a framework, i.e. TVSVAR, which also have unique features in terms of testing the associations among under analysis entities against time.
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Justine Schneider, Antony Arthur, Gillian Doody, Jayne Simpson and Peter Jones
Social capital is a complex and multidimensional construct, which has been used widely in the social sciences, and which focuses attention on non‐monetary resources and…
Abstract
Social capital is a complex and multidimensional construct, which has been used widely in the social sciences, and which focuses attention on non‐monetary resources and relationships. The aim of this analysis study was to test the feasibility of deriving social capital variables from an epidemiological dataset, to explore associations between social capital and psychosis and to investigate the utility of the concept for understanding and treating mental illness. We set out to derive social capital variables from an existing epidemiological study, and tested their associations with first episode psychosis. Associations were found between psychosis and one form of social capital, active engagement in social activities. We conclude that social capital is a promising construct that can be utilised in analysing social dimensions of mental illness. Secondary analysis is possible, but longitudinal surveys with comprehensive measures of social capital and mental health are needed.
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The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online…
Abstract
The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online information and documentation work. They fall into the following categories:
Alessandro Bosco, Justine Schneider, Donna Maria Coleston-Shields and Martin Orrell
This study aims to explore the coping styles that can be inferred from the discourse of dyads with dementia, and how these appear to impact on care management.
Abstract
Purpose
This study aims to explore the coping styles that can be inferred from the discourse of dyads with dementia, and how these appear to impact on care management.
Design/methodology/approach
This was a case study approach. Participants were recruited from two teams managing crisis in dementia in the UK. The authors conducted multiple qualitative interviews with people with dementia and their family carers over the course of one month. The analysis was first performed through thematic analysis. Data were further analysed through narrative inquiry to create a story line, or play in our case, for our findings.
Findings
Five dyads were interviewed and a total of 16 interviews were conducted. Three dyads were husband–wife and two were daughter–mother relationships. The mean age was 67.4 years for carers and 79.8 years for people with dementia. In these cases, the carer assumed responsibility for managing the episode and was more likely to seek formal help if a pre-existing plan was in place. Otherwise, when a crisis arose, dyads preferred to avoid involving professionals.
Practical implications
Psychosocial interventions should aim to identify and replace unhelpful strategies used by dyads to manage crisis episodes.
Originality/value
To the best of the authors’ knowledge, this is the first study using qualitative interviews of dyads to inquire into their experience of mental health crisis.
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Elaine Argyle and Justine Schneider
Formal ties between the theatre and research dissemination have only recently developed and its general efficacy is largely unknown. Here the purpose of this paper is to redress…
Abstract
Purpose
Formal ties between the theatre and research dissemination have only recently developed and its general efficacy is largely unknown. Here the purpose of this paper is to redress this neglect by examining the effectiveness of a research-based theatrical event in promoting dementia knowledge transfer with a group of front line care workers. The event ran over eight days and consisted of an original theatrical production followed by a chaired audience discussion and workshops.
Design/methodology/approach
Questionnaires which had been developed specifically for this evaluation were completed by 863 front line workers on the day of the event, eliciting their profiles and immediate reactions. Three months after the event, 30 completed a follow-up questionnaire and eight were interviewed.
Findings
Attendance was well received with high degrees of both cognitive and emotional engagement being expressed in the initial questionnaire. The follow-up evaluation suggested that these positive reactions were sustained over time. However, many taking part in this follow-up thought that their practice had not changed as a result of event attendance. This apparent discrepancy between knowledge transfer and utilisation appeared to be partly the result of the influence of contextual factors in impeding this utilisation within work settings.
Originality/value
Evidence is provided on the positive impact of theatre on dementia carers’ working lives. This is sufficient to warrant further applications of this method, provided there is careful attention to embedding the messages in the workplace context and evaluating their efficacy.
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LIBRARIES have come impressively into the public picture in the past year or two, and seldom with more effect than when Their Majesties the King and Queen opened the new Central…
Abstract
LIBRARIES have come impressively into the public picture in the past year or two, and seldom with more effect than when Their Majesties the King and Queen opened the new Central Reference Library at Manchester on July 17th. In a time, which is nearly the end of a great depression, that the city which probably felt the depression more than any in the Kingdom should have proceeded with the building of a vast store‐house of learning is a fact of great social significance and a happy augury for libraries as a whole. His Majesty the King has been most felicitous in providing what we may call “slogans” for libraries. It will be remembered that in connection with the opening of the National Central Library, he suggested that it was a “University which all may join and which none need ever leave” —words which should be written in imperishable letters upon that library and be printed upon its stationery for ever. As Mr. J. D. Stewart said at the annual meeting of the National Central Library, it was a slogan which every public library would like to appropriate. At Manchester, His Majesty gave us another. He said: “To our urban population open libraries are as essential to health of mind, as open spaces to health of body.” This will be at the disposal of all of us for use. It is a wonderful thing that Manchester in these times has been able to provide a building costing £450,000 embodying all that is modern and all that is attractive in the design of libraries. The architect, Mr. Vincent Harris, and the successive librarians, Mr. Jast and Mr. Nowell, are to be congratulated upon the crown of their work.
Justine Wang, Mark Tomlins and Piyush Tiwari
The purpose of this paper is to examine information and volatility linkages among real estate, equity, bond and money markets in Australia.
Abstract
Purpose
The purpose of this paper is to examine information and volatility linkages among real estate, equity, bond and money markets in Australia.
Design/methodology/approach
A novel rational expectations framework of financial contagion (Kodres and Pritsker, 2002), along with a combination of robust statistical methods including simple and dynamic correlations and generalized impulse response (Fereidouni et al., 2014) have been employed using data covering three dynamic pre-pandemic economic cycles, namely, global financial crisis (GFC) period, pre-pandemic housing boom and pre-pandemic housing downturn from 2008 (February) to 2019 (December).
Findings
Results reveal information linkages across real estate, equity, bond and money markets through correlations in return and volatilities of these series. Finding indicates that the three financial markets (equity, bond and money markets) are interdependent and integrated through information and volatility linkages during the GFC period and pre-pandemic housing downturn period. Financial markets have stronger associations with real estate market during pre-pandemic housing boom. The findings contribute to the general notion that the performances of three financial markets are closely related to the “boom” phase of the real estate cycle.
Originality/value
This research provides an extension of existing literature regarding the information and volatility contagion of the expanded set of core investment markets in Australia. The findings could assist household buyers and investors in designing strategic investment portfolios/hedging strategies and minimizing asset specific risks through diversification over short-term and long-term. In addition, results could support the maintenance, growth and development of a combination of competitive balanced investment markets including real estate, equity, bond and money markets in post-pandemic economy.
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This article seeks to recover and uncover the non-utilitarian excess (jouissance) in crime and punishment since Kant. Jouissance is sharply contrasted with Nietzsche’s account of…
Abstract
This article seeks to recover and uncover the non-utilitarian excess (jouissance) in crime and punishment since Kant. Jouissance is sharply contrasted with Nietzsche’s account of ressentiment. The latter is analyzed as the predominant sensation of our penal system which until today structures the subjects and institutions of punishment from within. Jouissance, on the other hand, is obscured in philosophies of punishment that attempt to account for the will to punish but ultimately fail to cover over the excess that constitutes penal theories and practices. Whether it is visible in Kant’s punitive fervor, in the exploration of perversion in de Sade and E. A. Poe, in theories of deterrence and prevention or punitive convictions in our contemporary legal culture, Freud’s discovery of a realm beyond the pleasures principle remains crucial for the understanding of the motives for crime and punishment. The essay concludes with a discussion of Nietzsche and his exploration of the ramifications of recognizing the role of new affects in crime and punishment.