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Book part
Publication date: 18 January 2022

Adrian Pagana and Michael Wickensb

Pesaran and Smith (2011) concluded that Dynamic Stochastic General Equilibrium (DSGE) models were sometimes a straitjacket which hampered the ability to match certain features of…

Abstract

Pesaran and Smith (2011) concluded that Dynamic Stochastic General Equilibrium (DSGE) models were sometimes a straitjacket which hampered the ability to match certain features of the data. In this chapter, the authors look at how one might assess the fit of these models using a variety of measures, rather than what seems to be an increasingly common device – the Marginal Data Density. The authors apply these in the context of models by Christiano, Motto, and Rostagno (2014) and Ireland (2004), finding they fail to make a match by a large margin. Both of these models feature more shocks than observed variables, resulting in the empirical shocks having a singular density, and so making them correlated. When correlated one can neither interpret impulse responses nor perform variance decompositions. Against this, there is a strong argument for having a straitjacket, as it enforces some desirable behavior on models and makes researchers think about how to account for any non-stationarity in the data. The authors illustrate this with examples drawn from the SVAR literature and also more eclectic models such as Holston, Laubach, and Williams (2017) for extracting an estimate of the real natural rate.

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Essays in Honor of M. Hashem Pesaran: Prediction and Macro Modeling
Type: Book
ISBN: 978-1-80262-062-7

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Book part
Publication date: 11 August 2014

Lawton Robert Burns, Jeff C. Goldsmith and Aditi Sen

Researchers recommend a reorganization of the medical profession into larger groups with a multispecialty mix. We analyze whether there is evidence for the superiority of these…

Abstract

Purpose

Researchers recommend a reorganization of the medical profession into larger groups with a multispecialty mix. We analyze whether there is evidence for the superiority of these models and if this organizational transformation is underway.

Design/Methodology Approach

We summarize the evidence on scale and scope economies in physician group practice, and then review the trends in physician group size and specialty mix to conduct survivorship tests of the most efficient models.

Findings

The distribution of physician groups exhibits two interesting tails. In the lower tail, a large percentage of physicians continue to practice in small, physician-owned practices. In the upper tail, there is a small but rapidly growing percentage of large groups that have been organized primarily by non-physician owners.

Research Limitations

While our analysis includes no original data, it does collate all known surveys of physician practice characteristics and group practice formation to provide a consistent picture of physician organization.

Research Implications

Our review suggests that scale and scope economies in physician practice are limited. This may explain why most physicians have retained their small practices.

Practical Implications

Larger, multispecialty groups have been primarily organized by non-physician owners in vertically integrated arrangements. There is little evidence supporting the efficiencies of such models and some concern they may pose anticompetitive threats.

Originality/Value

This is the first comprehensive review of the scale and scope economies of physician practice in nearly two decades. The research results do not appear to have changed much; nor has much changed in physician practice organization.

Details

Annual Review of Health Care Management: Revisiting The Evolution of Health Systems Organization
Type: Book
ISBN: 978-1-78350-715-3

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Book part
Publication date: 28 November 2019

Abstract

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The North East After Brexit: Impact and Policy
Type: Book
ISBN: 978-1-83909-009-7

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Book part
Publication date: 9 September 2024

Tom Baum, Deirdre Curran, Anastasios Hadjisolomou, Olga Gjerald, Tone Therese Linge, Kate Inyoung Yoo and Anke Winchenbach

Tourism and hospitality employment have long faced widely recognised challenges with regard to employment, its workforce and the workplace environment, issues that have been…

Abstract

Tourism and hospitality employment have long faced widely recognised challenges with regard to employment, its workforce and the workplace environment, issues that have been addressed by generations of policymakers and practitioners without evident success or solution. These wicked problems are frequently characterised by inherent paradoxes and, therefore, accepting the tenets of paradox theory provides the basis for recognising the need to accept contradictions as a reality which a search for solutions will not resolve. This chapter presents six examples of wicked problems in tourism and hospitality employment, which are underpinned by paradoxes as proxies for the much wider range of intractable problems that beset policy-making and practice in this vital area of tourism and hospitality. The chapter concludes by suggesting ways in which wicked problems can be accommodated, and stakeholders can learn to understand and live with paradoxes.

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Tourism Policy-Making in the Context of Contested Wicked Problems: Politics, Paradigm Shifts and Transformation Processes
Type: Book
ISBN: 978-1-83549-985-6

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Book part
Publication date: 20 October 2023

Rebecca M. Hayes

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Defining Rape Culture: Gender, Race and the Move Toward International Social Change
Type: Book
ISBN: 978-1-80262-214-0

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Article
Publication date: 1 March 1992

John Conway O'Brien

A collection of essays by a social economist seeking to balanceeconomics as a science of means with the values deemed necessary toman′s finding the good life and society enduring…

1244

Abstract

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

Details

International Journal of Social Economics, vol. 19 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 9 December 2024

Richard Budd

The combination of previously unassociated terms in a metaphor can helpfully illustrate particular characteristics of a person, phenomenon or practice. However, it can also…

Abstract

The combination of previously unassociated terms in a metaphor can helpfully illustrate particular characteristics of a person, phenomenon or practice. However, it can also obfuscate because the focus on some elements may come at the expense of others. The metaphor of the landscape is somewhat ubiquitous in academic literature, and this paper is specifically interested in the ‘higher education landscape’, which is widely used in scholarly – as well as media and policy – writing. By applying thematic analysis to a sample of publications which invoke the term, this paper comprises what Haslanger calls a descriptive and ameliorative approach to investigate both how and why this metaphor is used. By considering these publications cumulatively, we can identify that the higher education landscape enables scholars to simultaneously acknowledge higher education's temporal, social and political positioning, its state of what can feel like permanent and wide-ranging flux, and its diverse cast of interrelated actors. In this way, it serves as a useful and evocative container metaphor for higher education's activities and constituents and the interrelationships and tensions between them. At the same time, its somewhat indiscriminate and indeterminate use can conflate and mask the detail and nature of these dynamics, and it is possible to discern in its application a collective sense of nervousness and uncertainty about higher education more generally.

Details

Theory and Method in Higher Education Research
Type: Book
ISBN: 978-1-83608-716-8

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Article
Publication date: 12 June 2017

Mouafo Teifouet Armand Robinson and Sarp Adali

Cantilever plates subject to axial flow can lose stability by flutter and properties such as viscoelasticity and laminar friction affect dynamic stability. The purpose of the…

155

Abstract

Purpose

Cantilever plates subject to axial flow can lose stability by flutter and properties such as viscoelasticity and laminar friction affect dynamic stability. The purpose of the present study is to investigate the dynamic stability of viscoelastic cantilever plates subject to axial flow by using the differential quadrature method.

Design/methodology/approach

Equation of motion of the viscoelastic plate is derived by implementing Kelvin-Voigt model of viscoelasticity and applying inverse Laplace transformation. The differential quadrature method is employed to discretize the equation of motion and the boundary conditions leading to a generalized eigenvalue problem. The solution is verified using the existing results in the literature and numerical results are given for critical flow velocities

Findings

It is observed that higher aspect ratios lead to imaginary part of third frequency becoming negative and causing single-mode flutter instability. It was found that flutter instability does not occur at low aspect ratios. Moreover the friction coefficient is found to affect the magnitude of critical flow velocity, however, its effect on the stability behaviour is minor.

Originality/value

The effects of various problem parameters on the dynamic stability of a viscoelastic plate subject to axial flow were established. It was shown that laminar friction coefficient of the flowing fluid increases the critical fluid velocity and higher aspect ratios lead to single-mode flutter instability. The effect of increasing damping of viscoelastic material on the flutter instability was quantified and it was found that increasing viscoelasticity can lead to divergence instability.

Details

Engineering Computations, vol. 34 no. 4
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 20 September 2019

Tom Baum, David Solnet, Richard Robinson and Shelagh K. Mooney

This is an invited 75article for Tourism Review addressing tourism employment, past and future.

798

Abstract

Purpose

This is an invited 75article for Tourism Review addressing tourism employment, past and future.

Design/methodology/approach

Conceptual analysis of tourism employment with a focus on paradox.

Findings

Inherent paradox which underpins tourism employment.

Originality/value

A wholly original take on tourism employment.

Details

Tourism Review, vol. 75 no. 1
Type: Research Article
ISSN: 1660-5373

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Article
Publication date: 25 January 2019

Daniel B. Shank and Dawn T. Robinson

This paper aims to present and test a model of how the autonomy of an organization’s representative alters the effects of customer experiences on customer emotions and…

768

Abstract

Purpose

This paper aims to present and test a model of how the autonomy of an organization’s representative alters the effects of customer experiences on customer emotions and repurchasing intentions toward the organization. Specifically, this paper offers a moderated mediation model whereby representative autonomy alters attributions of organizational responsibility, which moderate the effect of service experience on emotion and emotion mediates the effects of service experiences on repurchasing intentions.

Design/methodology/approach

Study 1 is a laboratory experiment (N = 115), where participants engaged in a multi-round product purchasing task through an online representative of a company. Study 2 is a vignette experiment (N = 393), where participants responded to situations of purchasing either a car, furniture, haircut or vacation package from a representative of a company. In both studies, manipulated representative autonomy information was either low or high and manipulated customer experience was either positive or negative. Measures included responsibility, emotion toward the organization and repurchase intention.

Findings

Structural equation models support the proposed model. In the presence of information about representative autonomy, the link between customer experience and repurchasing intent is amplified and mediated by emotion toward the organization.

Research limitations/implications

Because of the experimental approach, the findings may not be generalizable, but the experimental method allows for a controlled test of the process, ordering and relationship among variables.

Originality/value

Understanding how representatives’ autonomy ultimately alters repurchasing and how this process involves responsibility attributions contributes to both practice and theory.

Details

Journal of Consumer Marketing, vol. 36 no. 1
Type: Research Article
ISSN: 0736-3761

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