WorldWideScience

Sample records for business cycles

  1. International Business Cycle

    OpenAIRE

    Marek Lubiński

    2007-01-01

    Prime stylized facts of international business cycle theory refer to positive correlation in the cyclical components of important macroeconomic variables across countries. However a number of indicators of business cycle synchronization do not point to clear trends. It can be ascribed to the fact that different forces influence level of business cycle correlation. When investigating into the forces behind the commonness in aggregate fluctuations economic research seems to have pointed in two ...

  2. Measuring Business Cycle Time.

    OpenAIRE

    Stock, James H

    1987-01-01

    The business cycle analysis of Arthur F. Burns and Wesley C. Mitchell and the National Bureau of Economic Research presumed that aggregate economic variables evolve on a time scale defined by business cycle turning points rather than by months or quarters. Do macroeconomic variables appear to evolve on an economic rather than a calendar time scale? Evidence presented here suggests that they do. However, the estimated economic time scales are only weakly related to business cycle time scales, ...

  3. International Business Cycle Accounting

    OpenAIRE

    Keisuke Otsu

    2009-01-01

    In this paper, I extend the business cycle accounting method a la Chari, Kehoe and McGrattan (2007) to a two-country international business cycle model and quantify the effect of the disturbances in relevant markets on the business cycle correlation between Japan and the US over the 1980-2008 period. This paper finds that disturbances in the labor market and production efficiency are important in accounting for the recent increase in the cross-country output correlation. If international fina...

  4. STUDYING BUSINESS CYCLES SYNCHRONIZATION

    Directory of Open Access Journals (Sweden)

    N. Servetnyk

    2014-06-01

    Full Text Available The paper researches business cycles synchronization. The fluctuations in post-Soviet countries are considered. The study examines different measures of synchronization in groups of countries according to some criteria.

  5. International Real Business Cycles

    OpenAIRE

    Mario J. Crucini

    2006-01-01

    This paper is a non-technical review of research developments in the international real business cycle literature. International business cycle facts are summarize with particular attention to the sources of output variance from the expenditure side of the NIPA and the production side, using a familiar neoclassical production function. Theoretical developments focus on the how consumption smoothing and investment dynamics shape the current account; the search for sources and propagation mecha...

  6. How well can business cycle accounting account for business cycles?

    OpenAIRE

    Keisuke Otsu

    2012-01-01

    The business cycle accounting method introduced by Chari, Kehoe and McGrattan (2007) is a useful tool to decompose business cycle fluctuations into their contributing factors. However, the model estimated by the maximum likelihood method cannot replicate business cycle moments computed from data. Moment-based estimation might be an attractive alternative if the purpose of the research is to study business cycle properties such as volatility, persistence and cross-correlation of variables inst...

  7. Educational Business Cycles

    DEFF Research Database (Denmark)

    Tepe, Markus; Vanhuysse, Pieter

    Strong institutional constraints and better-informed voters may lead re-election seeking incumbents to shift the use of political business cycle mechanisms away from monetary and fiscal policy towards other policy domains that are more easily manipulable, targetable, and timeable. We investigate...... teacher employment patterns at the state level in Germany and find strong evidence of cycling mechanisms, in the form of electioneering and honeymooning. Against a backdrop of a continuously shrinking total teachers' pool, German state-level incumbents accelerate the hiring of new teachers during election...... periods and partly reverse this during politically safer points in the electoral cycle. Cycles are mediated by issue salience: heightened attention to German public schooling after the notorious PISA-2000 tests further strengthens the manipulation of new teacher hiring for electoral purposes....

  8. Educational Business Cycles

    DEFF Research Database (Denmark)

    Tepe, Markus; Vanhuysse, Pieter

    2009-01-01

    Strong institutional constraints and better-informed voters may lead re-election seeking incumbents to shift the use of political business cycle mechanisms away from monetary and fiscal policy towards other policy domains that are more easily manipulable, targetable, and timeable. We investigate...... teacher employment patterns at the state level in Germany and find strong evidence of cycling mechanisms, in the form of electioneering and honeymooning. Against a backdrop of a continuously shrinking total teachers' pool, German state-level incumbents accelerate the hiring of new teachers during election...... periods and partly reverse this during politically safer points in the electoral cycle. Cycles are mediated by issue salience: heightened attention to German public schooling after the notorious PISA-2000 tests further strengthens the manipulation of new teacher hiring for electoral purposes....

  9. International Business Cycle

    Directory of Open Access Journals (Sweden)

    Marek Lubiński

    2007-04-01

    Full Text Available Prime stylized facts of international business cycle theory refer to positive correlation in the cyclical components of important macroeconomic variables across countries. However a number of indicators of business cycle synchronization do not point to clear trends. It can be ascribed to the fact that different forces influence level of business cycle correlation. When investigating into the forces behind the commonness in aggregate fluctuations economic research seems to have pointed in two directions. One strand of the literature examines the idea of common exogenous shocks that affect economies simultaneously. In addition to that economic interdependencies such as trade in goods and services or capital account transactions may serve as the channels through which disturbances spill over across countries.The observed degree of output co movement reflects both the nature of the shocks that have occurred and the degree of economic interdependence. In the periods when common shocks prevail level of synchronization is usually higher than in times of transmission dominance.

  10. Entrepreneurship and the business cycle

    NARCIS (Netherlands)

    Koellinger, Philipp D.; Thurik, A. Roy

    2012-01-01

    We find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972 to 2007; entrepreneurship Granger-causes the cycles of the world economy. Furthermore, the entrepreneurial cycle is positively affected by the national unemployment cycle. We

  11. Entrepreneurship and the Business Cycle

    NARCIS (Netherlands)

    Ph.D. Koellinger (Philipp); A.R. Thurik (Roy)

    2011-01-01

    textabstractWe find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972-2007; entrepreneurship Granger-causes the cycles of the world economy. Furthermore, the entrepreneurial cycle is positively affected by the national unemployment

  12. Business Cycle Theory and Econometrics.

    OpenAIRE

    Gregory, Allan W; Smith, Gregor W

    1995-01-01

    We outline in turn criticisms made by econometricians of the methods used in empirical business-cycle research and then criticisms made by business-cycle researchers of some methods used by econometricians. The aim is to clarify and in some cases correct these criticisms. Overall there is no conflict in using rigourous statistical procedures to study modern dynamic stochastic general equilibrium models. We also provide a concise bibliography of recent research on statistical methods for busin...

  13. Advertising and Business Cycle Fluctuations

    OpenAIRE

    Benedetto Molinari; Francesco Turino

    2009-01-01

    This paper provides new empirical evidence of quarterly U.S. aggregate advertising expenditures, showing that advertising has a well defined pattern over the Business Cycle. To understand this pattern we develop a general equilibrium model where targeted advertising increases the marginal utility of the advertised good. Advertising intensity is endogenously determined by profit maximizing firms. We embed this assumption into an otherwise standard model of business cycle with monopolistic comp...

  14. Economic growth and business cycles

    NARCIS (Netherlands)

    Canton, E.J.F.

    1997-01-01

    This thesis contains five essays on economic growth and business cycles. The main focus is on the interaction between economic growth and the cycle: is cyclical variability good or bad for the long-run rate of economic growth? The introduction aims to provide some empirical evidence for an

  15. Business Cycles in Developing Countries

    DEFF Research Database (Denmark)

    Rand, John; Tarp, Finn

    2002-01-01

    This paper demonstrates that developing countries differ considerably from their developed counterparts when focus is on the nature and characteristics of short run macroeconomic fluctuations. Cycles are generally shorter, and the stylized facts of business cycles across countries are more diverse...... than those of the rather uniform industrialized countries. Supply-side models are generally superior in explaining changes in output, but a “one-size fits all” approach in formulating policy is inappropriate. Our results also illustrate the critical importance of understanding business regularities...

  16. Business cycle synchronization in Europe

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Jonung, Lars

    2011-01-01

    In this paper we study business cycle synchronization in the three Scandinavian countries Denmark, Norway and Sweden prior to, during and after the Scandinavian Currency Union 1873–1913. We find that the degree of synchronization tended to increase during the currency union, thus supporting earlier...

  17. Business Cycle Dependent Unemployment Insurance

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Svarer, Michael

    The consequences of business cycle contingencies in unemployment insurance systems are considered in a search-matching model allowing for shifts between "good" and "bad" states of nature. We show that not only is there an insurance argument for such contingencies, but there may also be an incentive...

  18. Endogenous, Imperfectly Competitive Business Cycles

    DEFF Research Database (Denmark)

    Whitta-Jacobsen, Hans Jørgen

    We investigate how imperfect competition affects the occurrence and the properties of endogenous, rational expectations business cycles in an overlapping generations model with constant returns to scale in production. The model has explicit product and labor markets all characterized...... by monopolistic competition. An implicit assumption of barriers to entry justifies that the number of firms is fixed even when positive profits occur. It turns out that both market power of firms on the product markets and market power of unions on the labor markets make the occurrence of cycles more likely....... In particular, imperfect competition on the product markets and the positive profits associated with it may have the effect that there is a cycle even if the labor supply curve is increasing in the real-wage rate. For competitive cycles is required not only a decreasing labor supply curve, but a wage elasticity...

  19. Business cycles, migration and health.

    Science.gov (United States)

    Halliday, Timothy J

    2007-04-01

    We investigate the proposition that illness poses as an obstacle to one's ability to use migration to hedge the business cycle. We employ data on migration, regional unemployment rates and health status from 10 years (1984-1993) of the US Panel Study of Income Dynamics. Our results provide considerable for support this proposition. The evidence is the strongest for men, but we also find weaker evidence for married women. These results suggest that--ceterus paribus--aggregate health outcomes in an area should improve when the regional economy expands.

  20. Business cycles in oil economies

    International Nuclear Information System (INIS)

    Al-Mutairi, N.H.

    1991-01-01

    This study examines the impact of oil price shocks on output fluctuations of several oil-exporting economies. In most studies of business cycles, the role of oil price is ignored; the few studies that use oil price as one of the variables in the system focus on modeling oil-importing economies. The vector autoregression (VAR) technique is used to consider the cases of Norway, Nigeria, and Mexico. Both atheoretical and 'structural' VARs are estimated to determine the importance of oil price impulses on output variations. The study reports two types of results: variance decomposition and impulse response functions, with particular emphasis on the issues of stationarity and co-integration among the series. The empirical results suggest that shocks to oil price are important in explaining output variations. In most cases, shocks to oil price are shown to explain more than 20% of the forecast variance of output over a 40-quarter horizon

  1. Business Cycle Synchronization and Regional Integration

    OpenAIRE

    Fiess, Norbert

    2007-01-01

    Deeper trade integration between Central America and the United States, as envisaged under the Central American Free Trade Agreement, is likely to lead to closer links between Central American and U.S. business cycles. This article assesses the degree of business cycle synchronization between Central America and the United States—relevant not only for a better understanding of the influence of important trading partners on the business cycle fluctuations in the domestic economy but for evalua...

  2. Finance in the Theory of Business Cycles

    OpenAIRE

    Indrajit, Mallick

    2008-01-01

    Abstract The question of aggregate welfare over time makes business cycle studies important. Finance studies allocation of resources under uncertainty. Thus both these fields of study dwell on intertemporal resource allocation under uncertainty. This paper attempts to shed light on how finance can be integrated into business cycle theory to provide richer and deeper insights than the standard real business cycle theory. JEL Classification: E32, E44, G

  3. Frisch on Testing of Business Cycle Theories

    NARCIS (Netherlands)

    Boumans, M.

    1995-01-01

    An important identifying assumption for business cycle models is contained in the mathematical form of the model, which determines the nature of its possible movements. Tinbergen's and Frisch's original understanding of business cycle theories was that of a closed model, containing only endogenous

  4. Which Industries Are Sensitive to Business Cycles?

    Science.gov (United States)

    Berman, Jay; Pfleeger, Janet

    1997-01-01

    An analysis of the 1994-2005 Bureau of Labor Statistics employment projections can be used to identify industries that are projected to move differently with business cycles in the future than with those of the past, and can be used to identify the industries and occupations that are most prone to business cycle swings. (Author)

  5. Inventories in the Australian business cycle

    OpenAIRE

    Chindamo, Phillip

    2010-01-01

    This Economics Research Note examines inventories in the business cycle for Australia covering the period since the mid 1980s. The Australian Bureau of Statistics (ABS) defines inventories as all materials etc., work in progress and finished goods owned by a business, whether held at locations of the business or elsewhere. These items are usually held by businesses in anticipation of a product’s sale. Inventory investment is counted as an additional contribution to gross domestic product (...

  6. Business-cycle research in marketing

    NARCIS (Netherlands)

    Deleersnyder, Barbara; Dekimpe, Marnik; Wierenga, B.; van der Lans, R.

    The recent Global Financial crisis has reminded companies that macro-economic developments, and especially business-cycle fluctuations, can be among the most influential determinants of a firm’s activities and performance.

  7. Changing credit limits, changing business cycles

    DEFF Research Database (Denmark)

    Jensen, Henrik; Ravn, Søren Hove; Santoro, Emiliano

    2017-01-01

    In the last half-century, capital markets across the industrialized world have undergone massive deregulation, involving large increases in the loan-to-value (LTV) ratios of house- holds and firms. We study the business-cycle implications of this phenomenon in an es- timated dynamic general...... macroeconomic volatility, a countercyclical LTV ratio proves to be successful in dampening business cycle fluctuations and, most importantly, avoiding dramatic output drops....

  8. The Uncertainty Multiplier and Business Cycles

    OpenAIRE

    Saijo, Hikaru

    2013-01-01

    I study a business cycle model where agents learn about the state of the economy by accumulating capital. During recessions, agents invest less, and this generates noisier estimates of macroeconomic conditions and an increase in uncertainty. The endogenous increase in aggregate uncertainty further reduces economic activity, which in turn leads to more uncertainty, and so on. Thus, through changes in uncertainty, learning gives rise to a multiplier effect that amplifies business cycles. I use ...

  9. Multinational Firms and Business Cycle Transmission

    DEFF Research Database (Denmark)

    Menno, Dominik Francesco

    This paper studies the effect of foreign direct investment (FDI) on the transmission of international business cycles. I document for the G7 countries between 1991 and 2006 that increases in bilateral FDI linkages are associated with more synchronized investment cycles. I also find...... that the relation between FDI integration and synchronization of gross domestic product (GDP) is - yet positive - statistically insignificant after controlling for time fixed effects. I then study a model of international business cycles with an essential role for FDI and shocks to multinational activity...

  10. Endogenous money supply and the business cycle

    OpenAIRE

    William T. Gavin; Finn E. Kydland

    1996-01-01

    This paper documents changes in the cyclical behavior of nominal data series that appear after 1979:Q3 when the Federal Reserve implemented a policy to lower the inflation rate. Such changes were not apparent in real variables. A business cycle model with impulses to technology and a role for money is used to show how alternative money supply rules are expected to affect observed business cycle facts. In this model, changes in the money supply rules have almost no effect on the cyclical behav...

  11. Leverage and Deepening Business Cycle Skewness

    DEFF Research Database (Denmark)

    Jensen, Henrik; Petrella, Ivan; Ravn, Søren Hove

    2017-01-01

    We document that the U.S. economy has been characterized by an increasingly negative business cycle asymmetry over the last three decades. This finding can be explained by the concurrent increase in the financial leverage of households and firms. To support this view, we devise and estimate......, booms become progressively smoother and more prolonged than busts. We are therefore able to reconcile a more negatively skewed business cycle with the Great Moderation in cyclical volatility. Finally, in line with recent empirical evidence, financially-driven expansions lead to deeper contractions...

  12. Credit Spreads Across the Business Cycle

    DEFF Research Database (Denmark)

    Nielsen, Mads Stenbo

    This paper studies how corporate bond spreads vary with the business cycle. I show that both level and slope of empirical credit spread curves are correlated with the state of the economy, and I link this to variation in idiosyncratic jump risk. I develop a structural credit risk model...... that accounts for both business cycle and jump risk, and show by estimation that the model captures the counter-cyclical level and pro-cyclical slope of empirical credit spread curves. In addition, I provide a new procedure for estimation of idiosyncratic jump risk, which is consistent with observed shocks...

  13. Measuring business cycles in The Netherlands, 1815-1913: a comparison of business cycle dating methods

    OpenAIRE

    Bonenkamp, Jan; Jacobs, Jan; Kuper, Gerard H.

    2001-01-01

    This paper compares different business cycle dating methods both on theoretical and practical grounds. Weighing the pros and cons of these methods, and based on a new data set for The Netherlands in the nineteenth century, we finally recommend two preferred methods for doing further business cycle research on the economy of the Netherlands. With respect to the methods for finding turning points in the level of economic activity, the classical cycle definition, we prefer the Bry-Boschan algori...

  14. Attractor merging crisis in chaotic business cycles

    International Nuclear Information System (INIS)

    Chian, Abraham C.-L.; Borotto, Felix A.; Rempel, Erico L.; Rogers, Colin

    2005-01-01

    A numerical study is performed on a forced-oscillator model of nonlinear business cycles. An attractor merging crisis due to a global bifurcation is analyzed using the unstable periodic orbits and their associated stable and unstable manifolds. Characterization of crisis can improve our ability to forecast sudden major changes in economic systems

  15. Changing Credit Limits, Changing Business Cycles

    DEFF Research Database (Denmark)

    Jensen, Henrik; Ravn, Søren Hove; Santoro, Emiliano

    In the last decades, capital markets across the industrialized world have undergone massive deregulation, involving increases in the loan-to-value (LTV) ratios of households and firms. We study the business-cycle implications of this phenomenon in a dynamic general equilibrium model with multiple...

  16. Consumer confidence or the business cycle

    DEFF Research Database (Denmark)

    Møller, Stig Vinther; Nørholm, Henrik; Rangvid, Jesper

    2014-01-01

    Answer: The business cycle. We show that consumer confidence and the output gap both excess returns on stocks in many European countries: When the output gap is positive (the economy is doing well), expected returns are low, and when consumer confidence is high, expected returns are also low...

  17. Real Business-cycle Model with Habits

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    2015-01-01

    This paper empirically investigates the ability of a real business-cycle model with nonseparabilities in consumption and leisure and external habits both in consumption and leisure to fit the postwar US data. The results indicate a strong but fast-dying habit in leisure, and a somewhat weaker...

  18. Monetary transmission and business cycle asymmetry

    NARCIS (Netherlands)

    Kakes, Jan

    1998-01-01

    This paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than during

  19. Unemployment Duration over the Business Cycle

    DEFF Research Database (Denmark)

    Rosholm, Michael

    1996-01-01

    In this paper I study the way in which individual unemployment durations vary over the business cycle, as measured by the aggregate unemployment rate. I decompose the cyclical variations in observed unemployment durations into a composition al and a general part. The compositional part consists...

  20. Teaching Real Business Cycles to Undergraduates

    Science.gov (United States)

    Brevik, Frode; Gartner, Manfred

    2007-01-01

    The authors review the graphical approach to teaching the real business cycle model introduced in Barro. They then look at where this approach cuts corners and suggest refinements. Finally, they compare graphical and exact models by means of impulse-response functions. The graphical models yield reliable qualitative results. Sizable quantitative…

  1. The Limits of Schumpeter's Business Cycles

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2006-01-01

    Schumpeter designed Business Cycles as his major work, but it has never received much attention. The problem is partly related to its complex treatment of the theory of waveform economic evolution and the related study of the statistics and history of 150 years of capitalist evolution, but the book...

  2. The Brazilian business and growth cycles

    Directory of Open Access Journals (Sweden)

    Chauvet Marcelle

    2002-01-01

    Full Text Available This paper uses several produceres to date and analyse the Brazilian business and growth cycles. In particular, a Markov switching model is fitted to quarterly and annual real production data. The smoothed probabilities of the Markov states are used as predictive rules to define different phases of cyclical fluctuations of real Brazilian production. The results are compared with different non-parametric rules. All methods implemented yield similar dating and reveal asymmetries across the different states of the Brazilian business and growth cycles, in which slowdowns and recessions are short and abrupt, while high growth phases and expansions are longer and less steep. The resulting dating of the Brazilian economic cycles can be used as a reference point for construction and evaluation of the predictive performance of coincident, leading, or lagging indicators of economic activity. In addition, the filtered probabilities obtained from the Markov switching model allow early recognition of the transition to a new business cycle phase, wich can be used, for example, for evaluation of the adequate strength and timing of countercyclical policies, for reassessment of projected sales or profits by businesses and investors, or for monitoring of inflation pressures.

  3. Measuring Synchronisation and Convergence of Business Cycles

    NARCIS (Netherlands)

    Koopman, Siem Jan; Azevedo, Joao Valle e

    2003-01-01

    This paper investigates business cycle relations among different economies in theEuro area. Cyclical dynamics are explicitly modelled as part of a time series model. Weintroduce mechanisms that allow for increasing or diminishing phase shifts and for time-varyingassociation patterns in different

  4. Understanding the Evolution of World Business Cycles

    OpenAIRE

    Ayhan Kose; Christopher Otrok; Charles H. Whiteman

    2005-01-01

    This paper studies the changes in world business cycles during 1960-2003. We employ a Bayesian dynamic latent factor model to estimate common and country-specific components in the main macroeconomic aggregates of the Group of Seven (G-7) countries. We then quantify the relative importance of these components in explaining comovement in each observable aggregate over three distinct time periods: the Bretton Woods (BW) period (1960-72), the period of common shocks (1972-86), and the globalizat...

  5. Business Cycle Volatility and Globalization: A Survey

    OpenAIRE

    Claudia M. Buch

    2002-01-01

    The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid and badly co-ordinated capital account liberalization has been blamed for enhancing the vulnerability of emerging markets to unstable in...

  6. Changes in International Business Cycle Affiliations

    OpenAIRE

    Erdenebat Bataa; Denise R. Osborn; Marianne Sensier; Dick van Dijk

    2009-01-01

    We investigate changes in international business cycle affiliations using an iterative procedure for detecting system-wide structural breaks. We analyze GDP growth rates in two systems, one with the US, Euro-area, UK and Canada and the other for the Euro-area countries of France, Germany and Italy. We discover that international dynamic interactions change in both the mid-1980s and early 1990s, with such changes being particularly important for studying influences on the aggregate Euro-area. ...

  7. Commercialization of nuclear fuel cycle business

    International Nuclear Information System (INIS)

    Yakabe, Hideo

    1998-01-01

    Japan depends on foreign countries almost for establishing nuclear fuel cycle. Accordingly, uranium enrichment, spent fuel reprocessing and the safe treatment and disposal of radioactive waste in Japan is important for securing energy. By these means, the stable supply of enriched uranium, the rise of utilization efficiency of uranium and making nuclear power into home-produced energy can be realized. Also this contributes to the protection of earth resources and the preservation of environment. Japan Nuclear Fuel Co., Ltd. operates four business commercially in Rokkasho, Aomori Prefecture, aiming at the completion of nuclear fuel cycle by the technologies developed by Power Reactor and Nuclear Fuel Development Corporation and the introduction of technologies from foreign countries. The conditions of location of nuclear fuel cycle facilities and the course of the location in Rokkasho are described. In the site of about 740 hectares area, uranium enrichment, burying of low level radioactive waste, fuel reprocessing and high level waste control have been carried out, and three businesses except reprocessing already began the operation. The state of operation of these businesses is reported. Hereafter, efforts will be exerted to the securing of safety through trouble-free operation and cost reduction. (K.I.)

  8. Emerging market business cycles: the cycle is the trend

    OpenAIRE

    Mark Aguiar; Gita Gopinath

    2004-01-01

    Business cycles in emerging markets are characterized by strongly counter-cyclical current accounts, consumption volatility that exceeds income volatility, and dramatic “sudden stops” in capital inflows. These features contrast with those of developed, small open economies and highlight the uniqueness of emerging markets. Nevertheless, we show that both qualitatively and quantitatively a standard dynamic stochastic, small open economy model can account for the behavior of both types of market...

  9. Trend shocks and business cycles in Sub Saharan Africa

    OpenAIRE

    Naoussi , Claude Francis; Tripier , Fabien

    2010-01-01

    This article explores the role of trend shocks in explaining the specificities of business cycles in Sub-Saharan African (SSA) countries using the methodology introduced by Aguiar and Gopinath (2007) [Emerging Market Business Cycles: The Cycle Is the Trend Journal of Political Economy 115(1)]. We specify a small open economy model with transitory and trend shocks on productivity to replicate the differences in the business cycle behavior of output and consumption across countries, especially ...

  10. Business cycles in the Netherlands, 1815-1913

    NARCIS (Netherlands)

    Jacobs, Jan; Smits, Jan-Pieter

    2001-01-01

    This article exploits a unique new dataset containing information on the economy of the Netherlands to date business cycles turning points in the 19th century (1815-1913) using a modern econometric technique. The business cycle in the Netherlands is compared to the international (UK and US) business

  11. Comparative analysis of Goodwin's business cycle models

    Science.gov (United States)

    Antonova, A. O.; Reznik, S.; Todorov, M. D.

    2016-10-01

    We compare the behavior of solutions of Goodwin's business cycle equation in the form of neutral delay differential equation with fixed delay (NDDE model) and in the form of the differential equations of 3rd, 4th and 5th orders (ODE model's). Such ODE model's (Taylor series expansion of NDDE in powers of θ) are proposed in N. Dharmaraj and K. Vela Velupillai [6] for investigation of the short periodic sawthooth oscillations in NDDE. We show that the ODE's of 3rd, 4th and 5th order may approximate the asymptotic behavior of only main Goodwin's mode, but not the sawthooth modes. If the order of the Taylor series expansion exceeds 5, then the approximate ODE becomes unstable independently of time lag θ.

  12. Regional Business Cycles in East Asia: Synchronization and its Determinants

    OpenAIRE

    Young-Joon Park

    2013-01-01

    This paper analyzes the dynamics and nature of regional business cycle synchronization for East Asian countries in the period of 2000:Q1-2011:Q4. Estimating a dynamic two-factor model extracts the common factor and the nation- specific factor from both the macroeconomic aggregates and plausible driving forces of regional business cycles. Evidence for regional business cycle synchronization is particularly strong for Korea, Malaysia and the Philippines, while Japan shows weak evidence of regio...

  13. GLOBALIZATION VERSUS SEGREGATION - BUSINESS CYCLES SYNCHRONIZATION IN EUROPE

    Directory of Open Access Journals (Sweden)

    Sebastian Florian Enea

    2012-12-01

    Full Text Available Globalization and business cycles are equally elusive economic phenomena; hence they represent a continuous research possibility and a source of possible inquiries due to their complex nature. The aim of the paper is to explain the synchronization of business cycles using the relationship between the growth rate of the GDP and FDI, considered as percentage of the GDP. The results show that there is no unique European business cycle, but two cores between which countries migrate and stress out the importance of the FDI channel in business cycle transmission. The future research directions will employ fuzzy cluster techniques, used on a larger sample.

  14. BUSINESS CYCLES, ELECTORAL CYCLES. TOWARD A THEORETICAL FRAME OF INTERACTION

    Directory of Open Access Journals (Sweden)

    BOGDAN-LUCIAN DOSPINESCU

    2015-06-01

    Full Text Available The idea of cyclical movement of a system: be it political, economic, institutional, is one of the constants of critical thinking. In this sense, there is a natural cyclic movement that cannot be avoided (only amplified or diminished and is connected with the nature of these systems. The economy follows a cyclical movement; a period of growth follows a period of decline, and so on. So does popularity for political parties or leaders. In this paper, I explore the links between the business cycles and electoral cycles. For this purpose, I introduce the concept of electoral perception cycles. My hypothesis is that popularity of political parties and leaders follow a cyclical evolution, both on short and long term. I show how perception cycles can impact the “political business cycle theory”. There is great interest in political science literature for the factors that influence the fluctuations in Presidents’ popularity, especially from United States. However, very little has been said about Romania’s case. I investigate the hypothesis of electoral perception cycles looking at the popularity of former president Traian Basescu, over his two terms. The variable used to measure popularity is favorability, measured in national surveys, done face to face, on representative samplez, of around 1000 subjects. I’ve correlated the fluctuations in favorability over time, with key public events or political decisions taken by Traian Băsescu. The main findings are as follows. Firstly, there are significant short term fluctuations (short term perception cycles and they are correlated with major events on the agenda. I would point the following key moments: 1. The referendum for dismissal of the President in May 2007 – Traian Băsescu’s favorability increased by 7 percentage points; 2. The referendum for unicameral Parliament with 300 MPs in the fall of 2009. Coupled with victory in the presidential election, it lead to an increase of 10 percentage

  15. Austrian Business Cycle Theory: Are 100 Percent Reserves Sufficient to Prevent a Business Cycle?

    Directory of Open Access Journals (Sweden)

    Philipp Bagus

    2010-02-01

    Full Text Available Authors in the Austrian tradition have made the credit expansion of a fractional reserve banking system as the prime cause of business cycles. Authors such as Selgin (1988 and White (1999 have argued that a solution to this problem would be a free banking system. They maintain that the competition between banks would limit the credit expansion effectively. Other authors such as Rothbard (1991 and Huerta de Soto (2006 have gone further and advocated a 100 percent reserve banking system ruling out credit expansion altogether. In this article it is argued that a 100 percent reserve system can still bring about business cycles through excessive maturity mismatching between deposits and loans.

  16. The integrity management cycle as a business process

    Energy Technology Data Exchange (ETDEWEB)

    Ackhurst, Trent B.; Peverelli, Romina P. [PIMS - Pipeline Integrity Management Specialists of London Ltd. (United Kingdom).

    2009-07-01

    It is a best-practice Oil and Gas pipeline integrity and reliability technique to apply integrity management cycles. This is conforms to the business principles of continuous improvement. This paper examines the integrity management cycle - both goals and objectives and subsequent component steps - from a business perspective. Traits that businesses require, to glean maximum benefit from such a cycle, are highlighted. A case study focuses upon an integrity and reliability process developed to apply to pipeline operators. installations. This is compared and contrasted to the pipeline integrity management cycle to underline both cycles. consistency with the principles of continuous improvement. (author)

  17. Spectral Analysis Of Business Cycles In The Visegrad Group Countries

    Directory of Open Access Journals (Sweden)

    Kijek Arkadiusz

    2017-06-01

    Full Text Available This paper examines the business cycle properties of Visegrad group countries. The main objective is to identify business cycles in these countries and to study the relationships between them. The author applies a modification of the Fourier analysis to estimate cycle amplitudes and frequencies. This allows for a more precise estimation of cycle characteristics than the traditional approach. The cross-spectral analysis of GDP cyclical components for the Czech Republic, Hungary, Poland and Slovakia makes it possible to assess the degree of business cycle synchronization between the countries.

  18. Evidence on Common Feature and Business Cycle Synchronization in Mercosur

    OpenAIRE

    Carrasco-Gutierrez, Carlos Enrique; Reis Gomes, Fábio Augusto

    2007-01-01

    The aim of this work is to analyze the business cycles of Mercosur member countries in order to investigate their degree of synchronization. The econometric model uses the Beveridge-Nelson-Stock-Watson multivariate trend-cycle decomposition, taking into account the presence of common features such as common trend and common cycle. Once the business cycles are estimated, their degree of synchronization is analyzed by means of linear correlation in time domain and coherence and phase in f...

  19. Business cycle indexes : does a heap of data help?

    NARCIS (Netherlands)

    Inklaar, Robert; Jacobs, Jan; Romp, Ward

    2003-01-01

    Business cycle indexes are used to get a timely and frequent description of the state of the economy and its likely development in the near future. This paper discusses two methods for constructing business cycle indexes, the traditional NBER method and a recently developed dynamic factor model, and

  20. Univariate characterization of the German business cycle 1955-1994

    OpenAIRE

    Weihs, Claus; Garczarek, Ursula

    2002-01-01

    We present a descriptive analysis of stylized facts for the German business cycle. We demonstrate that simple ad-hoc instructions for identifying univariate rules characterizing the German business cycle 1955-1994 lead to an error rate comparable to standard multivariate methods.

  1. Is That Fiscal Convergence Provides Business Cycles Synchronization

    OpenAIRE

    Alimi, Nabil; Garbaa, Radhouan

    2014-01-01

    Using a panel of annual data for 29 ODCE countries over the period 1996 2010, we empirically examine if fiscal convergence make business cycles more closely linked. The results suggest that a reduction in fiscal divergence tend to raise the business cycle correlation between a pair of ODCE countries.

  2. Historical Business Cycles and Market Integration: Evidence from Comovement

    NARCIS (Netherlands)

    Uebele, Martin

    2009-01-01

    This thesis addresses historical business cycles and market integration in Europe and America in the 19th and 20th centuries. For the analysis of historical business cycles, the widely used methodology of historical national accounting is complemented with a dynamic factor model that allows for

  3. The Political Business Cycles of EU Accession Countries

    NARCIS (Netherlands)

    M. Hallerberg; L. Vinhas de Souza

    2000-01-01

    textabstractThis paper considers whether political business cycles exist in Eastern European accession countries. Section I introduces the overall objectives of the work. Section II provides a short introduction to the political business cycle literature. It also considers the role of exchange

  4. Business cycle development in Czech and Slovak economies

    Directory of Open Access Journals (Sweden)

    Poměnková, J.

    2010-12-01

    Full Text Available This paper focuses on the business cycle development of Czech and Slovak economies. The main objective is to compare several methodological approaches to identify business cycles with the main theoretical sources of the economic activity movements in the analyzed periods. As both economies are of transition type, the growth business cycle concept will be considered. In this respect, deterministic as well as stochastic methods for obtaining cyclical fluctuations are applied. Czech and Slovak economies fall into the group of transition economies where the problems of insufficient number of observations and structural changes in empirical time series analysis occur. Even if there are many similarities in the institutions of both economies, the authors identified different regular periodicities of the waves. The used frequency analysis is a slightly unique approach of business cycle modeling. The analysis of business cycle movements has significant potential to improve economic policy efficiency.

  5. Road accidents and business cycles in Spain.

    Science.gov (United States)

    Rodríguez-López, Jesús; Marrero, Gustavo A; González, Rosa Marina; Leal-Linares, Teresa

    2016-11-01

    This paper explores the causes behind the downturn in road accidents in Spain across the last decade. Possible causes are grouped into three categories: Institutional factors (a Penalty Point System, PPS, dating from 2006), technological factors (active safety and passive safety of vehicles), and macroeconomic factors (the Great recession starting in 2008, and an increase in fuel prices during the spring of 2008). The PPS has been blessed by incumbent authorities as responsible for the decline of road fatalities in Spain. Using cointegration techniques, the GDP growth rate, the fuel price, the PPS, and technological items embedded in motor vehicles appear to be statistically significantly related with accidents. Importantly, PPS is found to be significant in reducing fatal accidents. However, PPS is not significant for non-fatal accidents. In view of these results, we conclude that road accidents in Spain are very sensitive to the business cycle, and that the PPS influenced the severity (fatality) rather than the quantity of accidents in Spain. Importantly, technological items help explain a sizable fraction in accidents downturn, their effects dating back from the end of the nineties. Copyright © 2016 Elsevier Ltd. All rights reserved.

  6. Finnish and Swedish business cycles in a global context

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael

    2008-01-01

    This paper evaluates the decisions made by the Finnish government to join EMU and the Swedish government not to join EMU in the early 1990s. Focusing on the characteristics of business cycles during the postwar period, we find that output fluctuations in Sweden and Finland are correlated to two...... measures of the international business cycle, a European and a non-European cycle. The Finnish cycle has become more synchronized to the European cycle but less synchronized to the non-EU cycle after 1999. For Sweden we find the opposite result. The decision by the Finnish government to join EMU...

  7. Business cycles and mortality: results from Swedish microdata.

    Science.gov (United States)

    Gerdtham, Ulf-G; Johannesson, Magnus

    2005-01-01

    We assess the relationship between business cycles and mortality risk using a large individual level data set on over 40,000 individuals in Sweden who were followed for 10-16 years (leading to over 500,000 person-year observations). We test the effect of six alternative business cycle indicators on the mortality risk: the unemployment rate, the notification rate, the deviation from the GDP trend, the GDP change, the industry capacity utilization, and the industry confidence indicator. For men we find a significant countercyclical relationship between the business cycle and the mortality risk for four of the indicators and a non-significant effect for the other two indicators. For women we cannot reject the null hypothesis of no effect for any of the business cycle indicators.

  8. Environmental macroeconomics : Environmental policy, business cycles, and directed technical change

    NARCIS (Netherlands)

    Fischer, Carolyn; Heutel, Garth

    Environmental economics has traditionally fallen in the domain of microeconomics, but approaches from macroeconomics have recently been applied to studying environmental policy. We focus on two macroeconomic tools and their application to environmental economics. First, real-business-cycle models

  9. Regional Business Cycles in East Asia: Synchronization and its Determinants

    Directory of Open Access Journals (Sweden)

    Young-Joon Park

    2013-06-01

    Full Text Available This paper analyzes the dynamics and nature of regional business cycle synchronization for East Asian countries in the period of 2000:Q1-2011:Q4. Estimating a dynamic two-factor model extracts the common factor and the nation- specific factor from both the macroeconomic aggregates and plausible driving forces of regional business cycles. Evidence for regional business cycle synchronization is particularly strong for Korea, Malaysia and the Philippines, while Japan shows weak evidence of regional synchronization. On the other hand, Indonesia, Thailand, Singapore and China are decoupling from regional business cycles. The driver of monetary aggregate is the most significant determinant of regional fluctuations of macroeconomic aggregates, whereas oil price and productivity are on average important driving forces of nation-specific fluctuations of real economic activities.

  10. The Impact of Business Cycle Fluctuations on Graduate School Enrollment

    Science.gov (United States)

    Johnson, Matthew T.

    2013-01-01

    This paper adds to the understanding of student decisions about graduate school attendance by studying the magnitude of the effect of business cycle fluctuations on enrollment. I use data on graduate school enrollment from the Current Population Survey and statewide variation in unemployment rates across time to proxy for changes in business cycle…

  11. Has globalization increased the synchronicity of international business cycles?

    OpenAIRE

    Berge, Travis

    2012-01-01

    The past 30 years have been witness to an inexorable change in the degree to which economies are connected internationally. At the same time, the 2007-2008 recession was the first ‘global recession’ in decades. This article explores how international trade and cross-border holdings financial assets impact the synchronization of business cycles internationally. The paper begins by producing chronologies of business cycle turning points for a group of 32 major economies covering 40 years of his...

  12. How Does Globalization Affect the Synchronization of Business Cycles?

    OpenAIRE

    Ayhan Kose; Eswar S Prasad; Marco Terrones

    2003-01-01

    This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and financial integration enhance global spillovers of macroeconomic fluctuations is mostly limited to industrial countries. One striking resu...

  13. The Role of Mining in an Australian Business Cycle Model

    OpenAIRE

    Veroude, Alexandra

    2012-01-01

    The purpose of this paper is to evaluate a business cycle model that includes a mining sector, with the cyclical variations of the Australian Economy. Large quantities of mineral deposits are found in Australia and there exists high demand for these minerals from developing nations. This results in the mining sector contributing to a high proportion of GDP. Surprisingly, the inclusion of a mining sector has not previously been studied in a business cycle model. Australia is a small open econo...

  14. Lending Sociodynamics and Drivers of the Financial Business Cycle

    Directory of Open Access Journals (Sweden)

    Raymond J. Hawkins

    2017-10-01

    Full Text Available We extend sociodynamic modeling of the financial business cycle to the Euro Area andJapan. Using an opinion-formation model and machine learning techniques we find stable modelestimation of the financial business cycle using central bank lending surveys and a few selectedmacroeconomic variables. We find that banks have asymmetric response to good and bad economicinformation, and that banks adapt to their peers’ opinions when changing lending policies.

  15. Income inequality and the business cycle

    Directory of Open Access Journals (Sweden)

    Shahee Mostafa

    2015-01-01

    Full Text Available This paper first examines the relationship between ordinary least squares estimators of consumption and investment for 36 selected countries with their respective Gini indices. The analysis shows that income inequality is consistent with a smaller estimator of consumption and a greater estimator of investment. Second, the cycles of GDP, consumption and investment are dated separately to determine how the deepness and duration of cycles of those variables are correlated with the Gini indices of countries. The results show that income inequality leads to a deeper and longer decline of GDP, which causes a greater cumulative income loss of GDP during recession, and a somewhat faster speed of recovery during expansion. Likewise, the result of a correlation between Gini indices and the number of cycles in consumption, investment and GDP indicate that income inequality is associated with a greater number of cycles in consumption and GDP and a lower number of cycles in investment.

  16. The African Political Business Cycle: varieties of Experience

    OpenAIRE

    Mosley, P.; Chiripanhura, B.

    2012-01-01

    We seek to understand both the incidence and the impact of the African political business cycle in the light of a literature which has argued that, with major extensions of democracy since the 1990s, the cycle has both become more intense and has made African political systems more fragile. With the help of country-case studies, we argue, first, that the African political business cycle is not homogeneous, and is rarely encountered in so-called ‘dominant-party systems’ where a pre-election st...

  17. Business cycles and natural gas prices

    International Nuclear Information System (INIS)

    Apostolos, S.; Asghar, S.

    2005-01-01

    This paper investigates the basic stylised facts of natural gas price movements using data for the period that natural gas has been traded on an organised exchange and the methodology suggested by Kydland and Prescott (1990). Our results indicate that natural gas prices are procyclical and lag the cycle of industrial production. Moreover, natural gas prices are positively contemporaneously correlated with United States consumer prices and lead the cycle of consumer prices, raising the possibility that natural gas prices might be a useful guide for US monetary policy, like crude oil prices are, possibly serving as an important indicator variable. (author)

  18. Effective forms of market orientation across the business cycle:a longitudinal analysis of business-to-business firms

    OpenAIRE

    Frösén, Johanna; Jaakkola, Matti; Churakova, Iya; Tikkanen, Henrikki

    2016-01-01

    Macroeconomic developments, such as the business cycle, have a remarkable influence on firms and their perfor- mance. In business-to-business (B-to-B) markets characterized by a strong emphasis on long-term customer relationships, market orientation (MO) provides a particularly important safeguard for firms against fluctuating market forces. Using panel data from an economic upturn and downturn, we examine the effectiveness of differ- ent forms of MO (i.e., customer orientation, competitor or...

  19. Will business cycles in the euro area converge? A critical survey of empirical research

    NARCIS (Netherlands)

    de Haan, J.; Inklaar, R.; Jong-A-Pin, R.

    This survey of business cycle synchronization in the European monetary union focuses on two issues: have business cycles become more similar, and which factors drive business cycle synchronization. We conclude that business cycles in the euro area have gone through periods of both convergence and

  20. Instability of capitalism inflation, unemployment, and business cycles

    Directory of Open Access Journals (Sweden)

    Adil H. Mouhammed

    2006-12-01

    Full Text Available This paper investigates the instability of capitalism defined as a condition under which capitalism creates inflation, unemployment, and business cycles. Great economists such as Marx, Veblen, and Schumpeter have examined this problem, concluding that capitalist instability will transform capitalism. A model is developed in this paper to investigate instability, and the finding is that the basic causebehind instability is the conflict on income share: wages and profits. The fluctuations in the share of profits create inflation, unemployment, and business cycles. This generalization has been verified by using data from the American economy for the 1970s, 1980s, and the 1990s. Over this period, the paper concludes, whenthe profit share is high, moderate inflation and employment were generated, and when profit share is low, inflation, unemployment, and business cycles have appeared.

  1. Forecasting Macedonian Business Cycle Turning Points Using Qual Var Model

    Directory of Open Access Journals (Sweden)

    Petrovska Magdalena

    2016-09-01

    Full Text Available This paper aims at assessing the usefulness of leading indicators in business cycle research and forecast. Initially we test the predictive power of the economic sentiment indicator (ESI within a static probit model as a leading indicator, commonly perceived to be able to provide a reliable summary of the current economic conditions. We further proceed analyzing how well an extended set of indicators performs in forecasting turning points of the Macedonian business cycle by employing the Qual VAR approach of Dueker (2005. In continuation, we evaluate the quality of the selected indicators in pseudo-out-of-sample context. The results show that the use of survey-based indicators as a complement to macroeconomic data work satisfactory well in capturing the business cycle developments in Macedonia.

  2. The role of interest rates in the Brazilian business cycles

    Directory of Open Access Journals (Sweden)

    Nelson F. Souza-Sobrinho

    2011-09-01

    Full Text Available This paper offers additional insights on the relationship between interest rates and business cycles in Brazil. First, I document that Brazilian interest rates are very volatile, counter-cyclical and positively correlated with net exports, as observed in other emerging market economies. Next, I present a dynamic stochastic general equilibrium model in which firms face working capital constraints and labor supply is independent of consumption. This parsimonious model, appropriately calibrated to the Brazilian economy, predicts that interest rate shocks can explain about one third of output fluctuations and delivers business cycle regularities consistent with the Brazilian data.

  3. A comparison of exchange economies within a monetary business cycle

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, E2005/14 (2005), s. 1-26 ISSN 1749-6101 Institutional research plan: CEZ:AV0Z70850503 Keywords : cash-in-advance * credit production * monetary business cycle Subject RIV: AH - Economics http://www.cardiff.ac.uk/carbs/econ/workingpapers/papers/2005_14.pdf

  4. Business cycle research in marketing : A review and research agenda

    NARCIS (Netherlands)

    Dekimpe, Marnik; Deleersnyder, Barbara

    Business cycles (BCs) may affect entire markets, and significantly alter many firms’ marketing activities and performance. Even though managers cannot prevent BCs from occurring, marketing research over the last 15 years has provided growing evidence that their impact on consumers, and hence on firm

  5. Advertising and price effectiveness over the business cycle

    NARCIS (Netherlands)

    Gijsenberg, Maarten; van Heerde, Harald; Dekimpe, Marnik G.; Steenkamp, Jan-Benedict E. M.

    2009-01-01

    In this study, the authors conduct a systematic investigation on the evolution in the effectiveness of two important marketing mix instruments, advertising and price, over the business cycle. Analyses are based on 163 branded products in 37 mature CPG categories in the UK, and this for a period of

  6. Time-to-Degree and the Business Cycle

    Science.gov (United States)

    Messer, Dolores; Wolter, Stefan C.

    2010-01-01

    This paper presents the results of an empirical investigation trying to explain individual time-to-degree variances with business cycle fluctuations. Assuming that students determine the optimum study length at university weighing up the cost of an additional semester against the consumption benefit of studying and not yet working, the general…

  7. National Business Cycles and Community Competition for Jobs.

    Science.gov (United States)

    Kasarda, John D.; Irwin, Michael D.

    1991-01-01

    Analysis of employment change data for 3,101 counties during recent national recession and recovery periods found that factors derived from human ecological theory (density, infrastructure age, unionization, labor force education, and crime rate) best predicted local competitive dynamics across all business-cycle phases. Contains 60 references.…

  8. Anticipated growth and business cycles in matching models

    NARCIS (Netherlands)

    den Haan, W.J.; Kaltenbrunner, G.

    2009-01-01

    In a business cycle model that incorporates a standard matching framework, employment increases in response to news shocks, even though the wealth effect associated with the increase in expected productivity reduces labor force participation. The reason is that the matching friction induces

  9. Has accession to the EU affected business cycles?

    Directory of Open Access Journals (Sweden)

    Panagiotis EVANGELOPOULOS

    2013-02-01

    Full Text Available This paper undertakes to explain the relationship between EU accession and the length of business cycles, focusing specifically on whether participation in a multinational organization has, or has not, altered the length of the cycle. Employing a sample of nine EU countries (Austria, Denmark, Finland, Greece, Ireland, Portugal, Spain, Sweden and the UK we focused initially on annual data for per capita growth in GDP over a period of 59 years (1950-2008. For each country the sample was divided into two parts, one covering the period preceding accession to the EU and one is covering the accession year and succeeding years. Then, eliminating the background noise with the use of a periodogram, we proceeded to examine their spectral density plots. The results indicated that in the first years following accession, the countries tended to experience shorter cycles than they had previously. In the second phase the cycles were of the same duration as previous cycles. Finally, after a period of some years, the length of the cycles increased, as suggested by the J-shaped curve. This J-shaped growth curve applies for the countries that have joined the EU, strongly suggesting a causal relationship between accession to the EU and these specific characterristics of the curve. We cross-checked with a set of four non-EU member countries (Iceland, Norway, Switzerland and Turkey and found no change in the length of the business cycle in these countries.

  10. New approaches to business cycle theory in current economic science

    Directory of Open Access Journals (Sweden)

    Monica DOBRESCU

    2012-07-01

    Full Text Available In modern economies, current research generally acknowledges that the central issues in macroeconomics are essentially the same as those identified by Keynes in the General Theory of Employment, Interest and Money. One way or the other, economists are trying to address the same macroeconomic issues that they did seven decades ago: How can we account for the different growth rates and various fluctuations observed in national economies? Which are the economic policies most suitable to solve the issues of growth and cyclic behavior? Both the new classicals and the new Keynesians have made considerable progress within their research paradigms: to explain economic fluctuations, the new classicals focus on technological perturbations, the intertemporal substitution of leisure and real business cycles; on the other hand, the new Keynesians speak in terms of monopolistic competition, menu costs or efficiency wages. On the whole, the new classicals believe that the business cycle can best be understood within the market-clearing model, whereas the new keynesians believe that business fluctuations are due to certain market failures of various sorts.The present paper focuses on the main directions of research of the new classical school on the business cycle, given that the theoretical progress in this field has been significant and relevant for economic policy during the past four decades.

  11. Spectral analysis and markov switching model of Indonesia business cycle

    Science.gov (United States)

    Fajar, Muhammad; Darwis, Sutawanir; Darmawan, Gumgum

    2017-03-01

    This study aims to investigate the Indonesia business cycle encompassing the determination of smoothing parameter (λ) on Hodrick-Prescott filter. Subsequently, the components of the filter output cycles were analyzed using a spectral method useful to know its characteristics, and Markov switching regime modeling is made to forecast the probability recession and expansion regimes. The data used in the study is real GDP (1983Q1 - 2016Q2). The results of the study are: a) Hodrick-Prescott filter on real GDP of Indonesia to be optimal when the value of the smoothing parameter is 988.474, b) Indonesia business cycle has amplitude varies between±0.0071 to±0.01024, and the duration is between 4 to 22 quarters, c) the business cycle can be modelled by MSIV-AR (2) but regime periodization is generated this model not perfect exactly with real regime periodzation, and d) Based on the model MSIV-AR (2) obtained long-term probabilities in the expansion regime: 0.4858 and in the recession regime: 0.5142.

  12. Managing Business-to-Business Relationships throughout the E-Commerce Procurement Life Cycle.

    Science.gov (United States)

    Archer, Norm; Yuan, Yufei

    2000-01-01

    Since the core of e-commerce is information and communications, support for managing customer relationships is available to those who know how to use it. Discusses how technology can be used to encourage and facilitate customer-business relationships. Shows through a customer relationship life cycle model how the management of related procurement…

  13. Lumpy investment, sectoral propagation, and business cycles (Invited Paper)

    Science.gov (United States)

    Nirei, Makoto

    2005-05-01

    This paper proposes a model of endogenous fluctuations in investment. A monopolistic producer has an incentive to invest when the aggregate demand is high. The investment at the firm level is also known to exhibit a threshold behavior called an (S,s) policy. These two facts lead us to consider that the fluctuation in aggregate investment is generated by the global coupling of the non-linear oscillators. From this perspective, we characterize the probability distribution of the investment clustering in a partial equilibrium of product markets, and show that its variance can be large enough to match the observed investment fluctuations. We then implement this mechanism in a dynamic general equilibrium model to explore an investment-driven business cycle. By calibrating the model with the SIC 4-digit level industry data, we numerically show that the model replicates the basic structure of the business cycles.

  14. The inherent complexity in nonlinear business cycle model in resonance

    International Nuclear Information System (INIS)

    Ma Junhai; Sun Tao; Liu Lixia

    2008-01-01

    Based on Abraham C.-L. Chian's research, we applied nonlinear dynamic system theory to study the first-order and second-order approximate solutions to one category of the nonlinear business cycle model in resonance condition. We have also analyzed the relation between amplitude and phase of second-order approximate solutions as well as the relation between outer excitements' amplitude, frequency approximate solutions, and system bifurcation parameters. Then we studied the system quasi-periodical solutions, annulus periodical solutions and the path leading to system bifurcation and chaotic state with different parameter combinations. Finally, we conducted some numerical simulations for various complicated circumstances. Therefore this research will lay solid foundation for detecting the complexity of business cycles and systems in the future

  15. Tourist Demand Reactions: Symmetric or Asymmetric across the Business Cycle?

    Science.gov (United States)

    Bronner, Fred; de Hoog, Robert

    2017-09-01

    Economizing and spending priorities on different types of vacations are investigated during two periods: an economic downturn and returning prosperity. Two nation-wide samples of vacationers are used: one during a downturn, the other one at the start of the recovery period. Through comparing the results, conclusions can be drawn about symmetric or asymmetric tourist demand across the business cycle. The main summer holiday has an asymmetric profile: being fairly crisis-resistant during a recession and showing considerable growth during an expansion. This does not apply to short vacations and day trips, each having a symmetric profile: during a recession they experience substantial reductions and during expansion comparable growth. So when talking about tourist demand in general , one cannot say that it is symmetric or asymmetric across the business cycle: it depends on the type of vacation. Differences in tourist demand are best explained by the role of Quality-of-Life for vacationers.

  16. The South African business cycle: what has changed?

    Directory of Open Access Journals (Sweden)

    Philippe Burger

    2011-05-01

    Full Text Available This paper identifies the basic empirical characteristics and changes of the South African business cycle since 1960. As such, the paper examines changes in volatility as well as the co-movement between several national account variables and real GDP. To examine the co-movements the paper follows Kydland and Prescott, Gavin and Kydland as well as Bergman, Bordo and Jonung and uses correlation coefficients and Granger causality tests. Following Ramos, the paper extends the results of the Granger causality tests using variance decomposition analysis in the context of a VAR (vector auto regression to establish the contribution that selected national account variables make to the h-period-ahead forecast error variance of themselves and the other variables included in the VARs. The paper indicates that since 1994 volatility in the South African economy decreased significantly, while durable consumption appears to lead the business cycle.

  17. Dynamical analysis of the global business-cycle synchronization.

    Science.gov (United States)

    Lopes, António M; Tenreiro Machado, J A; Huffstot, John S; Mata, Maria Eugénia

    2018-01-01

    This paper reports the dynamical analysis of the business cycles of 12 (developed and developing) countries over the last 56 years by applying computational techniques used for tackling complex systems. They reveal long-term convergence and country-level interconnections because of close contagion effects caused by bilateral networking exposure. Interconnectivity determines the magnitude of cross-border impacts. Local features and shock propagation complexity also may be true engines for local configuration of cycles. The algorithmic modeling proves to represent a solid approach to study the complex dynamics involved in the world economies.

  18. Dynamical analysis of the global business-cycle synchronization

    Science.gov (United States)

    2018-01-01

    This paper reports the dynamical analysis of the business cycles of 12 (developed and developing) countries over the last 56 years by applying computational techniques used for tackling complex systems. They reveal long-term convergence and country-level interconnections because of close contagion effects caused by bilateral networking exposure. Interconnectivity determines the magnitude of cross-border impacts. Local features and shock propagation complexity also may be true engines for local configuration of cycles. The algorithmic modeling proves to represent a solid approach to study the complex dynamics involved in the world economies. PMID:29408909

  19. A comparison of exchange economies within a monetary business cycle

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    2005-01-01

    Roč. 73, č. 4 (2005), s. 542-562 ISSN 1463-6786 R&D Projects: GA ČR GA402/05/2172 Institutional research plan: CEZ:AV0Z70850503 Keywords : monetary business cycle * credit model Subject RIV: AH - Economics Impact factor: 0.319, year: 2005 http://dx.doi.org/10.1111/j.1467-9957.2005.00458.x

  20. Search in the product market and the real business cycle

    OpenAIRE

    Mathä, Thomas Y.; Pierrard, Olivier

    2009-01-01

    Abstract Abstract Empirical evidence suggests that most firms operate in imperfectly competitive markets. We develop a search-matching model between wholesalers and retailers. Firms face search costs and form long-term relationships. Price bargain results in both wholesaler and retailer markups, which depend on firms? relative bargaining power. We simulate the general equilibrium model and explore the role of product market search frictions for business cycles. We conclu...

  1. Essays on oil and business cycles in Saudi Arabia

    Science.gov (United States)

    Aba Alkhail, Bandar A.

    This dissertation consists of three chapters. Chapter one presents a theoretical model using a dynamic stochastic general equilibrium (DSGE) approach to investigate the role of world oil prices in explaining the business cycle in Saudi Arabia. This model incorporates both productivity and oil revenue shocks. The results indicate that productivity shocks are relatively more important to business cycles than oil shocks. However, this model has some unfavorable features that are associated with both investment and labor hours. The second chapter presents a modified theoretical model using DSGE approach to examine the role of world oil prices versus productivity shocks in explaining the business cycles in Saudi Arabia. To overcome the unfavorable features of the baseline model, the alternative model adds friction to the model by incorporating investment portfolio adjustment cost. Thus, the alternative model produces similar dynamics to that of the baseline model but the unfavorable characteristics are eliminated. Also, this chapter conducts sensitivity analysis. The objective of the third chapter is to empirically investigate how real world oil price and productivity shocks affect output, consumption, investment, labor hours, and trade balance/output ratio for Saudi Arabia. This chapter complements the theoretical model of the previous chapters. In addition, this study builds a foundation for future studies in examining the impact of real world oil price shocks on the economies of key trade partners of Saudi Arabia. The results of the third chapter show that productivity shocks matter more for macroeconomic fluctuations than oil shocks for the Saudis' primary trade partners. Therefore, fears of oil importing countries appear to be overstated. As a whole, this research is important for the following reasons. First, the empirical model is consistent with the predictions of our theoretical model in that productivity is a driving force of business cycles in Saudi Arabia

  2. Bank stock returns, leverage and the business cycle

    OpenAIRE

    Jing Yang; Kostas Tsatsaronis

    2012-01-01

    The returns on bank stocks rise and fall with the business cycle, making bank equity financing cheaper in the boom and dearer during a recession. This provides support for prudential tools that give incentives for banks to build capital buffers at times when the cost of equity is lower. In addition, banks with higher leverage face a higher cost of equity, which suggests that higher capital ratios are associated with lower funding costs.

  3. What Inventory Behavior Tells Us about Business Cycles

    OpenAIRE

    James A. Kahn; Mark Bils

    2000-01-01

    Manufacturers' finished goods inventories move less than shipments over the business cycle. We argue that this requires marginal cost to be more procyclical than is conventionally measured. We construct, for six manufacturing industries, alternative measures of marginal cost that attribute high-frequency productivity shocks to procyclical work effort, and find that they are much more successful in accounting for inventory behavior. The difference is attributable to cyclicality in the shadow p...

  4. "The Political Business Cycle: New Evidence from the Nixon Tapes"

    OpenAIRE

    Burton A. Abrams; James L. Butkiewicz

    2011-01-01

    Drawing from the personal tape recordings made during the presidency of Richard Nixon, we uncover and report in this paper new evidence that Nixon manipulated Arthur Burns and the Federal Reserve Bank into creating a political business cycle that helped secure Nixon’s reelection victory in 1972. Nixon understood the risks that his desired monetary policy imposed, but chose to trade longer-term economic costs to the economy for his own short-term political benefit.

  5. Hopf bifurcation of the stochastic model on business cycle

    International Nuclear Information System (INIS)

    Xu, J; Wang, H; Ge, G

    2008-01-01

    A stochastic model on business cycle was presented in thas paper. Simplifying the model through the quasi Hamiltonian theory, the Ito diffusion process was obtained. According to Oseledec multiplicative ergodic theory and singular boundary theory, the conditions of local and global stability were acquired. Solving the stationary FPK equation and analyzing the stationary probability density, the stochastic Hopf bifurcation was explained. The result indicated that the change of parameter awas the key factor to the appearance of the stochastic Hopf bifurcation

  6. Fluctuations in a mixed IS-LM business cycle model

    Directory of Open Access Journals (Sweden)

    Hamad Talibi Alaoui

    2008-09-01

    Full Text Available In the present paper, we extend a delayed IS-LM business cycle model by introducing an additional advance (anticipated capital stock in the investment function. The resulting model is represented in terms of mixed differential equations. For the deviating argument $au$ (advance and delay being a bifurcation parameter we investigate the local stability and the local Hopf bifurcation. Also some numerical simulations are given to support the theoretical analysis.

  7. Emerging market business cycles revisited: learning about the trend

    OpenAIRE

    Boz, Emine; Daude, Christian; Durdu, C. Bora

    2011-01-01

    The data reveal that emerging markets do not differ from developed countries with regards to the variance of permanent TFP shocks relative to transitory. They do differ, however, in the degree of uncertainty agents face when formulating expectations. Based on these observations, we build an equilibrium business cycle model in which the agents cannot perfectly distinguish between the permanent and transitory components of TFP shocks. When formulating expectations, they assign some probability ...

  8. The South African business cycle: What has changed?

    OpenAIRE

    Burger, Philippe

    2010-01-01

    This paper identifies the basic empirical characteristics and changes of the South African business cycle since 1960. As such, the paper examines changes in volatility as well as the co-movement between several national account variables and real GDP. To examine the co-movements the paper follows Kydland and Prescott, Gavin and Kydland as well as Bergman, Bordo and Jonung and uses correlation coefficients and Granger causality tests. Following Ramos, the paper extends the results of the Grang...

  9. Roles of Technology and Nontechnology Shocks in the Business Cycles

    OpenAIRE

    Shingo Watanabe

    2006-01-01

    The empirical study of technology shocks is intensively conducted to evaluate plausibility of the technology-driven real business cycle hypothesis. A popular method is to identify technology shocks by the long-run restriction that those solely have permanent effects on labor productivity in the system consisting of labor productivity growth and hours worked. While it has an advantage of not using Solow residuals which tend to accompany measurement errors, it potentially misidentifies nontechn...

  10. The convergence of European business cycles 1978-2000

    Science.gov (United States)

    Ormerod, Paul; Mounfield, Craig

    2002-05-01

    The degree of convergence of the business cycles of the economies of the European Union (EU) is a key policy issue. In particular, a substantial degree of convergence is needed if the European Central Bank is to be capable of setting a monetary policy which is appropriate to the stage of the cycle of the Euro zone economies. We consider the annual rates of real GDP growth on a quarterly basis in the large core economies of the EU (France, Germany and Italy, plus The Netherlands) over the period 1978Q1-2000Q3. An important empirical question is the degree to which the correlations between these growth rates contain true information rather than noise. The technique of random matrix theory is able to answer this question, and has been recently applied successfully in the physics journals to financial markets data. We find that the correlations between the growth rates of the core EU economies contain substantial amounts of true information, and exhibit considerable stability over time. Even in the late 1970s and early 1980s, these economies moved together closely over the course of the business cycle. There was a slight loosening at the time of German re-unification, but the economies are now, if anything, even more closely correlated. As a benchmark for comparison, we add a series to the EU core data set which by construction is uncorrelated with these business cycles. We then analyse the EU core plus Spain, a country which has attached great importance to greater integration with Europe. In the early part of the period examined, the results are very similar to those obtained with the data set of the EU core plus the random series. However, there is a clear trend in the results, which provide strong evidence to support the view that the Spanish economy has now become closely converged with the core EU economies in terms of its movements over the business cycle. In contrast, the results obtained with a data set of the EU core plus the UK show no such trend. In the

  11. Job Displacement and First Birth Over the Business Cycle.

    Science.gov (United States)

    Hofmann, Barbara; Kreyenfeld, Michaela; Uhlendorff, Arne

    2017-06-01

    In this article, we investigate the impact of job displacement on women's first-birth rates as well as the variation in this effect over the business cycle. We use mass layoffs to estimate the causal effects of involuntary job loss on fertility in the short and medium term, up to five years after displacement. Our analysis is based on rich administrative data from Germany, with an observation period spanning more than 20 years. We apply inverse probability weighting (IPW) to flexibly control for the observed differences between women who were and were not displaced. To account for the differences in the composition of the women who were displaced in a downturn and the women who were displaced in an upswing, we use a double weighting estimator. Results show that the extent to which job displacement has adverse effects on fertility depends on the business cycle. The first-birth rates were much lower for women who were displaced in an economic downturn than for those who lost a job in an economic upturn. This result cannot be explained by changes in the observed characteristics of the displaced women over the business cycle.

  12. Various problems in establishment of fuel cycle business in Japan

    International Nuclear Information System (INIS)

    Murata, Hiroshi

    1985-01-01

    Since Japan instituted the Atomic Energy Act in 1956, and organized the Atomic Energy Commission, as the fundamental policy of the peaceful use of atomic energy, the industrialization and establishment of fuel cycle technology have been advanced as well as the development of power reactors. The consistent and harmonious industrialization of uranium enrichment, fuel fabrication, reprocessing, the utilization of recovered plutonium and uranium, and the storage, treatment and disposal of wastes has been the target. As the nuclear power generation in Japan grew, the enhancement of the various factors of nuclear fuel cycle as the base of supporting nuclear power generation has become necessary. The effort of technical development has been continued in the fields of uranium enrichment, fuel reprocessing, plutonium fuel and waste treatment by the Power Reactor and Nuclear Fuel Development Corp., Japan Atomic Energy Research Institute and related industries. The plan and present status of nuclear fuel cycle business in Japan, the problems such as the roles of the government and private enterprises, technology transfer, the economy of nuclear fuel cycle business, the industrialization of mixed oxide fuel fabrication, nuclear nonproliferation policy and location are discussed. (Kako, I.)

  13. Match your sales force structure to your business life cycle.

    Science.gov (United States)

    Zoltners, Andris A; Sinha, Prabhakant; Lorimer, Sally E

    2006-01-01

    Although companies devote considerable time and money to managing their sales forces, few focus much thought on how the structure of the sales force needs to change over the life cycle of a product or a business. However, the organization and goals of a sales operation have to evolve as businesses start up, grow, mature, and decline if a company wants to keep winning the race for customers. Specifically, firms must consider and alter four factors over time: the differing roles that internal salespeople and external selling partners should play, the size of the sales force, its degree of specialization, and how salespeople apportion their efforts among different customers, products, and activities. These variables are critical because they determine how quickly sales forces respond to market opportunities, they influence sales reps' performance, and they affect companies' revenues, costs, and profitability. In this article, the authors use timeseries data and cases to explain how, at each stage, firms can best tackle the relevant issues and get the most out of their sales forces. During start-up, smart companies focus on how big their sales staff should be and on whether they can depend upon selling partners. In the growth phase, they concentrate on getting the sales force's degree of specialization and size right. When businesses hit maturity, companies should better allocate existing resources and hire more general-purpose salespeople. Finally, as organizations go into decline, wise sales leaders reduce sales force size and use partners to keep the business afloat for as long as possible.

  14. Small business life cycle: statics and dynamics (S

    Directory of Open Access Journals (Sweden)

    Matejun Marek

    2017-12-01

    Full Text Available The aim of the paper is the presentation of theoretical foundations and the structure of original, 8-stage statics and dynamics model in the small business life cycle. Based on theoretical considerations, two hypotheses concerning the impact of dynamic and static nature of the life-cycle stages on selected determinants and effects of SMEs’ development were formulated. The hypotheses were verified based on the results of the survey conducted on a sample of 1,741 SMEs from 22 countries of the European Union. The results indicate that companies in the dynamic life-cycle stages are run by more enterprising owners, operate in more promising markets with a higher potential and make greater use of market niches thus limiting the level of competition. At the same time, such companies are characterised by higher levels of flexibility and involvement in innovative activities, which translates into obtaining a significantly higher level of business performance, in the area of quantitative as well as qualitative results.

  15. Job Displacement and First Birth Over the Business Cycle

    OpenAIRE

    Hofmann, Barbara; Kreyenfeld, Michaela; Uhlendorff, Arne

    2017-01-01

    In this article, we investigate the impact of job displacement on women?s first-birth rates as well as the variation in this effect over the business cycle. We use mass layoffs to estimate the causal effects of involuntary job loss on fertility in the short and medium term, up to five years after displacement. Our analysis is based on rich administrative data from Germany, with an observation period spanning more than 20 years. We apply inverse probability weighting (IPW) to flexibly control ...

  16. Dynamics of the driven Goodwin business cycle equation

    International Nuclear Information System (INIS)

    Antonova, A. O.; Reznik, S. N.; Todorov, M. D.

    2015-01-01

    We study dynamics of the Goodwin nonlinear accelerator business cycle model with periodic forced autonomous investment I a (t) = a(1 – cos ωt), where a and ω are the amplitude and the frequency of investment. We give examples of the parameters a and ω when the chaotic oscillations of income are possible. We find the critical values of amplitude a cr (ω): if a > a cr (ω) the period of the income equals to the driving period T=2π/ω

  17. Development on nuclear fuel cycle business in Japan

    International Nuclear Information System (INIS)

    Usami, Kogo

    2002-01-01

    The Japan Nuclear Fuel Co., Ltd. (JNF) develops five businesses on nuclear fuel cycle such as uranium concentration, storage and administration of high level radioactive wastes, disposition of low level radioactive wastes, used fuel reprocessing, MOX fuel, at Rokkasho-mura in Aomori prefecture. Here were introduced on outline, construction and operation in reprocessing and MOX fuel works, outline, present state and future subjects on technical development of uranium concentration, outline and safety of disposition center on low level radioactive wastes, and storage and administration of high level radioactive wastes. (G.K.)

  18. 'Virtual' central business office: how UMMS improved revenue cycle performance.

    Science.gov (United States)

    Henciak, Bill; Fontaine, Christine; Fields, Keith; Parks, Stacy

    2010-06-01

    Based on its experience with implementing a virtual central business office, UMMS recommends the following steps to ensure the success of such an initiative: Define the process flow for the organization's day-today revenue cycle operations prior to implementation. Then select best practices and milestones for managing accounts. Identify any possible technology issues that could arise during implementation prior to go live. Hold a midproject debriefing with staff. Develop an organizational chart that details who is responsible for handling issues that arise during implementation and afterward.

  19. Multiple job holding, local labor markets, and the business cycle

    Directory of Open Access Journals (Sweden)

    Barry T. Hirsch

    2016-04-01

    Full Text Available Abstract About 5 % of US workers hold multiple jobs, which can exacerbate or mitigate employment changes over the business cycle. Theory is ambiguous and prior literature is not fully conclusive. We examine the relationship between multiple job holding and local unemployment rates using a large Current Population Survey data set of workers in urban labor markets during 1998–2013. Labor markets with high unemployment have moderately lower rates of multiple job holding. Yet no relationship between multiple job holding and unemployment is found within markets over time, with near-zero estimates being precisely estimated. Multiple job holding is largely acyclic. JEL Classification: J21

  20. Codimension-2 bifurcations of the Kaldor model of business cycle

    International Nuclear Information System (INIS)

    Wu, Xiaoqin P.

    2011-01-01

    Research highlights: → The conditions are given such that the characteristic equation may have purely imaginary roots and double zero roots. → Purely imaginary roots lead us to study Hopf and Bautin bifurcations and to calculate the first and second Lyapunov coefficients. → Double zero roots lead us to study Bogdanov-Takens (BT) bifurcation. → Bifurcation diagrams for Bautin and BT bifurcations are obtained by using the normal form theory. - Abstract: In this paper, complete analysis is presented to study codimension-2 bifurcations for the nonlinear Kaldor model of business cycle. Sufficient conditions are given for the model to demonstrate Bautin and Bogdanov-Takens (BT) bifurcations. By computing the first and second Lyapunov coefficients and performing nonlinear transformation, the normal forms are derived to obtain the bifurcation diagrams such as Hopf, homoclinic and double limit cycle bifurcations. Some examples are given to confirm the theoretical results.

  1. Does Business Cycle Have an Impact on Entrants and Exits?

    Directory of Open Access Journals (Sweden)

    Nikolay Sterev

    2017-03-01

    Full Text Available Purpose: The role of entrants and exits has enlarged indisputably over recent years. The basic explanation is connected to the deepening of innovation's influence on industrial growth. Furthermore, new businesses have to be more effective, and based on products, technological or organizational innovations, and exits have to be ineffective (respectively unprofitable, based on denoted products or technology. Design/methodology/approach: According to the above-mentioned prerequisites, policymakers need to manage the role (respectively the impact that entrants (new start-up companies and exits play in industrial growth. Nevertheless, this impact is not a cornerstone of the Bulgarian National Strategy, or the Europe 2020 Strategy. Findings: The paper tries to answer the following two questions: 1 Do new start-up companies and exits have any role and influence on economic growth in Bulgaria? and 2 Does the role (respectively the impact of entrants and exits in industrial growth change according to economic cycle? Research limitations/implications: In addition, according to the Lisbon Strategy, as well as the European Union's (EU Strategy 2020, the current economic policy supports entrepreneurship and innovations. Thus, the establishment of innovative companies, as well as the development of innovative, incumbent business are core issues of EU economic policy for the past decade. Originality/value: The paper builds on the industrial dynamic methodology and on the understanding of how business decisions (entrepreneurship, innovations, and R&D on micro level correspond to macro level (GDP growth and innovation policy.

  2. Using complex networks to characterize international business cycles.

    Science.gov (United States)

    Caraiani, Petre

    2013-01-01

    There is a rapidly expanding literature on the application of complex networks in economics that focused mostly on stock markets. In this paper, we discuss an application of complex networks to study international business cycles. We construct complex networks based on GDP data from two data sets on G7 and OECD economies. Besides the well-known correlation-based networks, we also use a specific tool for presenting causality in economics, the Granger causality. We consider different filtering methods to derive the stationary component of the GDP series for each of the countries in the samples. The networks were found to be sensitive to the detrending method. While the correlation networks provide information on comovement between the national economies, the Granger causality networks can better predict fluctuations in countries' GDP. By using them, we can obtain directed networks allows us to determine the relative influence of different countries on the global economy network. The US appears as the key player for both the G7 and OECD samples. The use of complex networks is valuable for understanding the business cycle comovements at an international level.

  3. Using complex networks to characterize international business cycles.

    Directory of Open Access Journals (Sweden)

    Petre Caraiani

    Full Text Available BACKGROUND: There is a rapidly expanding literature on the application of complex networks in economics that focused mostly on stock markets. In this paper, we discuss an application of complex networks to study international business cycles. METHODOLOGY/PRINCIPAL FINDINGS: We construct complex networks based on GDP data from two data sets on G7 and OECD economies. Besides the well-known correlation-based networks, we also use a specific tool for presenting causality in economics, the Granger causality. We consider different filtering methods to derive the stationary component of the GDP series for each of the countries in the samples. The networks were found to be sensitive to the detrending method. While the correlation networks provide information on comovement between the national economies, the Granger causality networks can better predict fluctuations in countries' GDP. By using them, we can obtain directed networks allows us to determine the relative influence of different countries on the global economy network. The US appears as the key player for both the G7 and OECD samples. CONCLUSION: The use of complex networks is valuable for understanding the business cycle comovements at an international level.

  4. Rokkashomura: debut of the nuclear fuel cycle business

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    Japan Nuclear Fuel Industries and local governments signed the safety agreement, and the work began to initiate the operation of a uranium enrichment plant. In this way, the national Rokkashomura project to be constructed with the total cost of 1.2 trillion yen marked the debut of nuclear fuel cycle business in Japan. The public hearing concerning the low level radioactive waste storage facility was finished. However, a fuel reprocessing plant has not advanced since the national government did not clarify the policy for the management of high level rad-waste from the plant. Gubernatorial election was the best thing to happen for the public acceptance, and the local opposition movement lost steam. The operation of the uranium enrichment plant is to begin next January, and the construction of the low level waste storage facility proceeds on schedule. Regarding the fuel reprocessing plant, the public hearing is to be held in autumn, but it faces difficulties. The siting of nuclear fuel cycle facilities has already produced benefits for the local economy. 18 business establishments representing 15 firms have so far decided to open in Aomori Prefecture. JNFI and JNFS began the specific study for merger. (K.I.)

  5. Ischaemic heart disease mortality and the business cycle in Australia.

    Science.gov (United States)

    Bunn, A R

    1979-01-01

    Trends in Australian heart disease mortality were assessed for association with the business cycle. Correlation models of mortality and unemployment series were used to test for association. An indicator series of "national stress" was developed. The three series were analyzed in path models to quantify the links between unemployment, national stress, and heart disease. Ischemic heart disease (IHD) mortality and national stress were found to follow the business cycle. The two periods of accelerating IHD mortality coincided with economic recession. The proposed "wave hypothesis" links the trend in IHD mortality to the high unemployment of severe recession. The mortality trend describes a typical epidemic parabolic path from the Great Depression to 1975, with a smaller parabolic trend at the 1961 recession. These findings appear consistent with the hypothesis that heart disease is, to some degree, a point source epidemic arising with periods of severe economic recession. Forecasts under the hypothesis indicate a turning point in the mortality trend between 1976 and 1978. (Am J Public Health 69:772-781, 1979). PMID:453409

  6. The Convergence of European Business Cycles 1980--2004

    Science.gov (United States)

    Ormerod, P.

    2005-09-01

    The degree of convergence of the business cycles of the economies of the European Union is a key policy issue. In particular, a substantial degree of convergence is needed if the European Central Bank is to be capable of setting a monetary policy which is appropriate to the stage of the cycle of the Euro zone economies. I consider the annual rates of real GDP growth on a quarterly basis in the main economies of the EU (France, Germany, Italy, UK, Spain, Belgium and the Netherlands) over the period 1980Q1--2004Q4. An important empirical question is the degree to which the correlations between these growth rates contain true information rather than noise. The technique of random matrix theory is able to answer this question, and has been applied successfully in the physics journals to financial markets data. I find that the correlations between the growth rates of most of the core EU economies contain substantial amounts of true information, and exhibit considerable stability over time. Even in the late 1970s and early 1980s, these economies moved together closely over the course of the business cycle. There was a slight loosening at the time of German re-unification, but the economies have moved back into close synchronisation. The same result holds when Spain is added to the group of core EU countries. However, the problems of the German economy which arose from the early 1990s onwards has led to Germany becoming increasingly less synchronised with the rest of the core EU. Further, the results obtained with a data set of the converged EU core plus the UK show no real convergence between the UK and this group of economies.

  7. Are there two types of business cycles? a note on crisis detection

    Directory of Open Access Journals (Sweden)

    Robert Pater

    2014-12-01

    Full Text Available Business cycles are highly irregular fluctuations in economic activity. This article attempts to determine whether there are some properties of business cycles that can make them look more regular. This is done by analysing business cycle dynamics, especially by employing and adjusting to contemporary business cycle analysis the theories of growth cycles and classical cycles. The non-homogeneity of business cycles is surveyed in theory and practice with use of ad hoc filtering, spectral analysis and unobserved components models. With their use business cycles are extracted. Several macroeconomic indicators for 32 economies are analysed to draw up additional characteristics of contemporary business cycles. The author proposes that fluctuations in economic activity lasting 8-19 quarters should be called ‘growth cycles’ and those lasting 20-40 quarters – ‘classical cycles’. The value added of this article is the consideration of the two different type of cycles in light of the same methods of extraction, while to date they have been thought of as the ones that can be analysed with use of different methods of extraction. Another innovation is comparison of the cyclicality of different macroeconomic indicators from the point of view of the two types of cycles, while to date they have been analysed in the light of a single business cycle. In the article it is shown that dividing business cycles into such defined classical cycles and growth cycles enables us to understand the differences between the cyclicality of various macroeconomic aggregates and countries. It also enables us to distinguish between smaller downturns and severe recessions. Another conclusion is that the duration of contemporary business cycles around the world closes in a range of 2 to 10 years.

  8. Incorporating the knowledge management cycle in e-business

    NARCIS (Netherlands)

    O, Y.L.; Gordijn, Jaap; Akkermans, Hans

    2001-01-01

    In e-business, knowledge can be extracted from the recorded information by intelligent data analysis and then utilised in the business transaction. E-knowledge is a foundation for e-business. E-business can be supported by an intelligent information system that provides intelligent business process

  9. Political Business Cycle on the Agricultural Supports in Turkey

    Directory of Open Access Journals (Sweden)

    M. Burak ONEMLI

    2015-05-01

    Full Text Available This study investigates whether there is a political business cycle (PBC on the agricultural supports in the Turkish economy. In this respect, we investigate the policies of different Turkish governments for the agricultural supports measured by the producer support estimates for the period 1986-2011. To this end, first the series for the producer support estimates are filtered by the Hodrick-Prescott filter, and then an econometric model is employed to estimate the effects of a set of explanatory variables including the economic crisis, the opportunistic and the partisan characteristics of the incumbent parties. Our results provide limited support for the opportunistic type PBC. Moreover, it seems that some Turkish governments have created the partisanship type PBCs

  10. Business Cycle and Risk Premium in the Colombian Stock Market

    Directory of Open Access Journals (Sweden)

    Andrés Mauricio Gómez Sánchez

    2013-11-01

    Full Text Available Through the Hodrick-Prescott methodology this paper presents a review about the relationship between the ex post risk premium of the stock market and business cycles observed in Colombia. Through quarterly information from the fourth quarter of 2001 to the third quarter of 2012, statistical evidence shows that the increase and decrease of ex post risk premium follow a countercyclical behavior in tune with existing research conducted about the United States and emerging economies, although with non-contemporary relationships with private consumption. In addition, it is found that in the last decade the Colombian risk premium follows a process of Auto Regressive Moving Average Models (ARMA, showing that there is no variation in at least two consecutive quarters and whose behavior is generated in part by external events at the domestic economic activity level experienced in near past periods.

  11. Business Cycle Dynamics in the Euro Area: A Factor-SVAR Approach

    OpenAIRE

    Atilim Seymen

    2009-01-01

    The study investigates the business cycle dynamics in the euro area using an empirical framework which comprises common global and euro area shocks as well as allows bilateral spillovers of country-specific shocks across the member economies. Three core questions lie at the heart of the analysis: (i) To what extent are the business cycles of the euro area countries driven by common and spillover shocks? (ii) What are the extent and sources of business cycle heterogeneity in the euro area? (ii...

  12. Business Cycle Synchronization During US Recessions Since the Beginning of the 1870's

    OpenAIRE

    Nikolaos Antonakakis

    2012-01-01

    This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870's. Using a dynamic measure of business cycle synchronization, results depend on the globalisation period under consideration. On average, US recessions have significantly positive effects on business cycle co-movements only in the period following the breakdown of the Bretton Woods system of fixed exchange rates, while strongly decoupling effects among the G7 econ...

  13. A Dynamic Analysis of the Business Cycle Model with a Fixed-time Delay

    Directory of Open Access Journals (Sweden)

    Yuhang Zheng

    2017-07-01

    Full Text Available In business activities, there is a certain time lag effect in investment and capital stock, which would affect the dynamic behavior of the business cycle model and then complicate the economic stability adjustment made through investment policies. Considering the influence on investment activities caused by the expectation time about capital stock, this paper, employing the Hopf bifurcation theory, with the delay in investment as the bifurcation parameter, not only studies the equilibrium stability of the business cycle model with a fixed-time delay, but also discusses the formation conditions of the business cycle. The research discovers that the investment lag during the investing process and the expectation time about the capital stock are two crucial incentives of the business cycle; meanwhile, the expecting equilibrium target can be met through the adjustment of the government investment policies. These findings may serve as guidelines in stabilizing the business cycle and making relative economic policies. The conclusion is verified through numerical simulation.

  14. Cycle e-business: the e-business of Gaz De France; Cycle e-business: l'e-business de Gaz de France

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This paper deals with the Gaz De France Group position in the e-business context. In terms of e-business, all is done to put Internet at the marketing service. Three examples of Internet sites realization and the future policy are presented. (A.L.B.)

  15. A Simple Model to Teach Business Cycle Macroeconomics for Emerging Market and Developing Economies

    Science.gov (United States)

    Duncan, Roberto

    2015-01-01

    The canonical neoclassical model is insufficient to understand business cycle fluctuations in emerging market and developing economies. The author reformulates the model proposed by Aguiar and Gopinath (2007) in a simple setting that can be used to teach business cycle macroeconomics for emerging market and developing economies at the…

  16. Exercise, physical activity, and exertion over the business cycle.

    Science.gov (United States)

    Colman, Gregory; Dave, Dhaval

    2013-09-01

    Shifts in time and income constraints over economic expansions and contractions would be expected to affect individuals' behaviors. We explore the impact of the business cycle on individuals' exercise, time use, and total physical exertion, utilizing information on 112,000 individual records from the 2003-2010 American Time Use Surveys. In doing so, we test a key causal link that has been hypothesized in the relation between unemployment and health, but not heretofore assessed. Using more precise measures of exercise (and other activities) than previous studies, we find that as work-time decreases during a recession, recreational exercise, TV-watching, sleeping, childcare, and housework increase. This, however, does not compensate for the decrease in work-related exertion due to job-loss, and total physical exertion declines. These effects are strongest among low-educated men, which is validating given that employment in the Great Recession has declined most within manufacturing, mining, and construction. We also find evidence of intra-household spillover effects, wherein individuals respond to shifts in spousal employment conditional on their own labor supply. The decrease in total physical activity during recessions is especially problematic for vulnerable populations concentrated in boom-and-bust industries, and may have longer-term effects on obesity and related health outcomes. Copyright © 2013 Elsevier Ltd. All rights reserved.

  17. Ageism and the business cycle: an exploratory approach

    Directory of Open Access Journals (Sweden)

    Laetitia Challe

    2017-12-01

    Full Text Available Addressing discrimination within the professional sphere is becoming ever more important in French public debate in both the legal and managerial fields. A number of the 18 grounds of discrimination recognised under French law such as gender and ethnicity have been widely discussed in the scientific literature. However, unlike studies undertaken in English-speaking countries, few French-speaking researchers have explored age discrimination. This issue warrants analysis insofar as the actual economic context has forced governments to encourage more people to remain in the labour market. This objective, however, has proven difficult to achieve. A critical question is whether age-related labour market participation gaps depend on individual characteristics. If not, other factors might come into play, including possible discrimination. First, we review the employment of older workers over time. We then use econometric methods to assess the nature of labour market participation gaps and analyse their relationship with business cycles. With regard to the latter point, our findings reveal differences between men and women.

  18. Oil prices and the U.S. business cycle

    International Nuclear Information System (INIS)

    Lescaroux, F.

    2006-06-01

    The recent surge in oil prices rakes up old fears and the spectre of stagflation hangs over worldwide economic growth's forecasts. After 30 years of research however analysts still disagree about the influence of oil prices on macro-economic variations and the estimations of the consequences of a costlier barrel differ. As to the United States for example, elasticities between real GDP and oil price form a wide spectrum stretching from a value close to -1% to -11,6%. In this context, we try to identify the potential sources of instability in the oil price-macro-economy relationship in order to explain the width of this range. First we draw attention to the distinction between the effects of an upward disequilibrium and of an upturn in the equilibrium in the oil price series. This distinction lets us share the range of published results in two parts: the elasticities of real American GDP with respect to an upward imbalance and with respect to a rise in the equilibrium price would lie approximately in the ranges extending, respectively, from -1% to -5,5% and from -5% to -11,6%. We direct our work towards the analysis of the consequences of short-run variations in the oil prices on the U.S. business cycle. We identify a set of influences which condition the vulnerability of an economy and then construct an econometric sectoral and non-linear model inspired from Marshall's theory. The simulations conducted let us explain the long-run weakening in the oil price-macro-economy relationship and highlight the prominent part played by imported inflation and monetary policy in the crisis of the 70's and 80's. According to the values of the structural factors in the model and to the shape of the oil price short-run disequilibrium, the elasticities evaluated cover the whole range of published elasticities. (author)

  19. Business cycles and the financial performance of fuel cell companies

    International Nuclear Information System (INIS)

    Henriques, I.; Sadorsky, P.

    2005-01-01

    Fuel cells are expected to play a major role in a hydrogen powered world. They will provide power to homes, modes of transportation and appliances. Hydrogen is the most abundant element in nature, but it must be extracted in order to be usable. It can be produced from oil, natural gas and coal or from renewable sources such as biomass, thermal or nuclear reactions. Fuel cells running on hydrogen extracted from non renewable resources have an efficiency of 30 per cent, which is twice as efficient as an internal combustion engine. The greatest barrier to mass commercialization is the cost of making hydrogen-powered auto engines. Also, an infrastructure must be developed to refill hydrogen cars. One solution is to build a hydrogen highway using the existing natural gas grid to produce hydrogen and sell it at existing filling stations. The cost of building 12,000 refueling pumps in urban areas which will provide access to 70 per cent of America's population is estimated at $10 to $15 billion. This paper described the vector autoregression (VAR) model which empirically examines the relationship between financial performance of fuel cell companies and business cycles. It was used to measure how sensitive the financial performance of fuel cell companies are to changes in macroeconomic activity. A four variable VAR model was developed to examine the relationship between stock prices, oil prices and interest rates. It was shown that the stock prices of fuel cell companies are affected by shocks to technology stock prices and oil prices, with the former having a longer lasting impact. These results add to the growing literature that oil price movements are not as important as once thought. 15 refs., 3 tabs., 3 figs

  20. Modeling Business Cycle with Financial Shocks Basing on Kaldor-Kalecki Model

    Directory of Open Access Journals (Sweden)

    Zhenghui Li

    2017-04-01

    Full Text Available The effects of financial factors on real business cycle is rising to one of the most popular discussions in the field of macro business cycle theory. The objective of this paper is to discuss the features of business cycle under financial shocks by quantitative technology. More precisely, we introduce financial shocks into the classical Kaldor-Kalecki business cycle model and study dynamics of the model. The shocks include external shock and internal shock, both of which are expressed as noises. The dynamics of the model can help us understand the effects of financial shocks on business cycle and improve our knowledge about financial business cycle. In the case of external shock, if the intensity of shock is less than some threshold value, the economic system behaves randomly periodically. If the intensity of shock is beyond the threshold value, the economic system will converge to a normalcy. In the case of internal shock, if the intensity of shock is less than some threshold value, the economic system behaves periodically as the case without shock. If the intensity of shock exceeds the threshold value, the economic system either behaves periodically or converges to a normalcy. It is uncertain. The case with both two kinds of shocks is more complicated. We find conditions of the intensities of shocks under which the economic system behaves randomly periodically or disorderly, or converges to normalcy. Discussions about the effects of financial shocks on the business cycle are presented.

  1. Marketing budget allocation across countries : The role of the international business cycle

    NARCIS (Netherlands)

    Peers, Y.; van Heerde, H.J.; Dekimpe, Marnik

    2017-01-01

    A key conundrum facing organizations is how to adjust marketing budgets in response to the business cycle. While most firms use procyclical spending (spending less during economic contractions), academic studies often recommend countercyclical spending (spending more during contractions), which begs

  2. Business cycles' correlation and systemic risk of the Japanese supplier-customer network.

    Science.gov (United States)

    Krichene, Hazem; Chakraborty, Abhijit; Inoue, Hiroyasu; Fujiwara, Yoshi

    2017-01-01

    This work aims to study and explain the business cycle correlations of the Japanese production network. We consider the supplier-customer network, which is a directed network representing the trading links between Japanese firms (links from suppliers to customers). The community structure of this network is determined by applying the Infomap algorithm. Each community is defined by its GDP and its associated business cycle. Business cycle correlations between communities are estimated based on copula theory. Then, based on firms' attributes and network topology, these correlations are explained through linear econometric models. The results show strong evidence of business cycle correlations in the Japanese production network. A significant systemic risk is found for high negative or positive shocks. These correlations are explained mainly by the sector and by geographic similarities. Moreover, our results highlight the higher vulnerability of small communities and small firms, which is explained by the disassortative mixing of the production network.

  3. The Rate of Return to Schooling and the Business Cycle: Additional Estimates.

    Science.gov (United States)

    Kniesner, Thomas J.; And Others

    1980-01-01

    Illustrates that the business cycle does indeed disturb relative Black/White rates of return to schooling. Blacks fare relatively poorly in times of high unemployment. Data tables and formulas are presented to support the argument. (CT)

  4. Patterns and determinants of business cycle synchronization in the enlarged European Economic and Monetary Union

    Directory of Open Access Journals (Sweden)

    Iulia SIEDSCHLAG

    2010-06-01

    Full Text Available This paper provides empirical evidence about the degree of business cycle synchronization between the euro area countries and eight new European Union member states. We analyze the direct and indirect effects of similarity of economic structures and trade intensity on the co-movement of fluctuations of economic activity across these countries and find that bilateral similarity of economic structures and trade intensity were positively and significantly associated with business cycle correlations. This result is robust to different estimation techniques. Similarity of economic structures had an additional indirect positive effect on business cycle synchronization via its positive effect on trade intensity. The bilateral business cycle correlations are found to be endogenous with respect to bilateral similarity of economic structures and bilateral trade intensity suggesting that the new European Union countries will better satisfy the Optimum Currency Area criteria after the adoption of the euro.

  5. International business cycle synchronization since the 1870s: Evidence from a novel network approach

    Science.gov (United States)

    Antonakakis, Nikolaos; Gogas, Periklis; Papadimitriou, Theophilos; Sarantitis, Georgios Antonios

    2016-04-01

    In this study, we examine the issue of business cycle synchronization from a historical perspective in 27 developed and developing countries. Based on a novel complex network approach, the Threshold-Minimum Dominating Set (T-MDS), our results reveal heterogeneous patterns of international business cycle synchronization during fundamental globalization periods since the 1870s. In particular, the proposed methodology reveals that worldwide business cycles de-coupled during the Gold Standard, though they were synchronized during the Great Depression. The Bretton Woods era was associated with a lower degree of synchronization as compared to that during the Great Depression, while worldwide business cycle synchronization increased to unprecedented levels during the latest period of floating exchange rates and the Great Recession.

  6. The impact of the business cycle on service providers : Insights from international tourism

    NARCIS (Netherlands)

    Dekimpe, Marnik; Peers, Yuri; van Heerde, H.J.

    For service providers, it is essential to understand how their business is affected by the macroeconomy. This is especially pressing for the tourism sector, the world’s largest export service, because the number of incoming visitors is likely to be strongly determined by the business cycles in the

  7. Application of the Experiential Learning Cycle in Learning from a Business Simulation Game

    Science.gov (United States)

    Ahn, Jung-Hoon

    2008-01-01

    The purpose of this study was to investigate the effects of engaging students in Kolb's experiential learning cycle on facilitating students' simulation game performance and knowledge application skills in learning with a business simulation game. A sample was drawn from a population of business-major undergraduate students at the School of…

  8. An approximate analysis of expected cycle time in business process execution

    NARCIS (Netherlands)

    Ha, B.H.; Reijers, H.A.; Bae, J.; Bae, H.; Eder, J.; Dustdar, S

    2006-01-01

    The accurate prediction of business process performance during its design phase can facilitate the assessment of existing processes and the generation of alternatives. In this paper, an approximation method to estimate the cycle time of a business process is introduced. First, we propose a process

  9. The Keynesian Approach of Business Cycle and Economic Crises and its Criticism

    Directory of Open Access Journals (Sweden)

    Ionela Bălțătescu

    2009-10-01

    Full Text Available The main purpose of this article is to briefly present the Keynesian explanation of business cycle, economic fluctuation and crises, and also the solutions proposed from Keynesian perspective to the economic problems that characterize the bust phases of the business cycles (unemployment, recessions. In the fourth section of the article some criticisms of the Keynesian theoretical approach of the economic crises are considered and summarized.

  10. Business cycles in small, open economies: Evidence from panel data between 1900 and 2013

    OpenAIRE

    Miyamoto, Wataru; Nguyen, Thuy Lan

    2016-01-01

    Using a novel data set for 17 countries dating from 1900 to 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods. We find that financial frictions are an important feature for not only developing countries but also small developed countries. Furthermore, business cycles in both groups of countries are marked with trend ...

  11. Additional slack in the economy: the poor recovery in labor force participation during this business cycle

    OpenAIRE

    Katharine L. Bradbury

    2005-01-01

    This public policy brief examines labor force participation rates in this recession and recovery and compares them with the cyclical patterns in earlier business cycles. Measured relative to the business cycle peak in March 2001, labor force participation rates almost four years later have not recovered as much as usual, and the discrepancies are large. ; Among age-by-sex groups, the participation shortfall is especially pronounced at young and prime ages: Only for men and women age 55 and ol...

  12. Business Cycle Dependent Unemployment Benefits with Wealth Heterogeneity and Precautionary Savings

    DEFF Research Database (Denmark)

    Kristoffersen, Mark Strøm

    In the wake of the financial and economic crisis the discussion about social insurance and optimal stabilization policies has re-blossomed. This paper adds to the literature by studying the effects of a business cycle dependent level of unemployment benefits in a model with labor market matching......, wealth heterogeneity, precautionary savings, and aggregate fluctuations in productivity. The results are ambiguous: both procyclical and countercyclical unemployment benefits can increase welfare relative to business cycle invariant benefits. Procyclical benefits are beneficial due to countercyclicality...

  13. Trade flows as a channel for the transmission of business cycles

    OpenAIRE

    J.M. BERK

    1997-01-01

    The interdependence between business cycles of different countries has grown in recent decades. Many factors act as conductors of cyclical fluctuations between countries. In this context, the influence of trade flows in the global transmission of business cycles is examined. The author aims to identify empirically the line of causality of international cyclical movements as suggested by trade flows, presenting an estimate of the quantitive importance of trade flows as transmission channel.

  14. A Comparison of Business Cycles Synchronization in the Euro Area and Some Potential Monetary Unions

    Directory of Open Access Journals (Sweden)

    Stanislav Kappel

    2015-01-01

    Full Text Available Synchronization of business cycle is one of the main criteria for creation of a monetary union. With increasing synchronization of business cycle, a probability of occurrence of demand and supply shocks, which are asymmetric, decreases. The aim of this contribution is to evaluate synchronicity of business cycle in the euro area and some potential monetary unions. There are MERCOSUR (i.e. Argentina, Brazil, Paraguay, Uruguay and Venezuela, NAFTA (Canada, Mexico and the United States of America. For this aim, correlation analysis and two indexes of cyclical components of GDP are used. The cyclical components of GDP are obtained due to the Hodrick-Prescott filter. The results indicate a high degree of business cycles synchronization among states of the euro area (especially in countries of so called core of the euro area and states of NAFTA. In opposite, a lower degree of business cycles synchronization was reached among states of MERCOSUR. According to the criterion of business cycle synchronization, NAFTA is more appropriate candidate than MERCOSUR for creation monetary area.

  15. KNOWLEDGE AND THEIR SHELF LIFE IN THE BUSINESS CYCLE

    Directory of Open Access Journals (Sweden)

    Laurentia Elena SCURTU

    2015-08-01

    Full Text Available In the attempt to draw a definition to the business topics of the current period, we report to a string of descriptive key words, which appeal to a growing amount of assets, other than the physical/tangible ones. Thus, the most used words/keywords are: knowledge, skills/abilities or talents and the successful leaders that can use/exploit them productively, to achieve competitive advantage, become the key individuals in the business organizations. This is partly due to the "promise" that "the world of intangibles" guarantee to the modern corporate success. Thus, knowledge has become valuable resources in the current competitive chaos. The issue of this paper focuses on how knowledge are used in business organizations, where they can be located within the organization domain and which is their shelf life/their term of validity comparing to the one of those tangible/physical.

  16. Introductory Business Textbook Revision Cycles: Are They Getting Shorter?

    Science.gov (United States)

    Zinser, Brian; Brunswick, Gary

    2010-01-01

    The rate of textbook revision cycles is examined in light of the recent trend towards more rapid revisions (and adoptions of textbooks). The authors conduct background research to better understand the context for textbook revision cycles and the environmental forces that have been influencing what appears to be more rapid textbook revisions. A…

  17. Overdeterminacy and endogenous cycles: Trygve Haavelmo’s business cycle model and its implications for monetary policy

    OpenAIRE

    Kallåk Anundsen , André; Sigurd Holmsen Krogh, Tord; Nymoen, Ragnar; Vislie, Jon

    2011-01-01

    This paper presents the business cycle model that Trygve Haavelmo developed as part of his research program in macroeconomic and monetary theory. Driven by a mismatch between the marginal return to capital and the rate of return required by capital owners, this model generates endogenous cycles. The theory leads to a distinct analysis of the scope and limitations of monetary policy. A main message of the model is that care should be taken when conducting 'autonomous' monetary policy and that ...

  18. Tracking the business cycle of the Euro area: A multivariate model-based band-pass filter

    NARCIS (Netherlands)

    Azevedo, J.M.; Koopman, S.J.; Rua, A.

    2006-01-01

    This article proposes a multivariate bandpass filter based on the trend plus cycle decomposition model. The underlying multivariate dynamic factor model relies on specific formulations for trend and cycle components and produces smooth business cycle indicators with bandpass filter properties.

  19. Firm age, business cycles and aggregate labor market dynamics

    NARCIS (Netherlands)

    Sedláček, P.

    2011-01-01

    Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well established negative

  20. Analysis of stochastic effects in Kaldor-type business cycle discrete model

    Science.gov (United States)

    Bashkirtseva, Irina; Ryashko, Lev; Sysolyatina, Anna

    2016-07-01

    We study nonlinear stochastic phenomena in the discrete Kaldor model of business cycles. A numerical parametric analysis of stochastically forced attractors (equilibria, closed invariant curves, discrete cycles) of this model is performed using the stochastic sensitivity functions technique. A spatial arrangement of random states in stochastic attractors is modeled by confidence domains. The phenomenon of noise-induced transitions ;chaos-order; is discussed.

  1. Impulse or propagation? How the tides turned in Business Cycle Theory

    NARCIS (Netherlands)

    Reijnders, J.P.G.

    This paper contains a short history of business cycle theory. It is argued that in the course of time the emphasis shifted from a mainly exogenous to a mainly endogenous explanation of the cycle. After the integration of the two approaches in the so-called impulse and propagation theory, the balance

  2. Understanding the importance of permanent and transitory shocks at business cycle horizons for the UK

    Science.gov (United States)

    Narayan, Paresh Kumar

    2008-05-01

    The goal of this paper is to examine the relative importance of permanent and transitory shocks in explaining variations in macroeconomic aggregates for the UK at business cycle horizons. Using the common trend-common cycle restrictions, we estimate a variance decomposition of shocks, and find that over short horizons the bulk of the variations in income and consumption were due to permanent shocks while transitory shocks explain the bulk of the variations in investment. Our findings for income and consumption are consistent with real business cycle models which emphasize the role of aggregate supply shocks, while our findings for investment are consistent with the Keynesian school of thought, which emphasizes the role of aggregate demand shocks in explaining business cycles.

  3. Relationship finance, market finance and endogenous business cycles

    OpenAIRE

    Deidda, Luca Gabriele; Fattouh, Bassam

    2010-01-01

    This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be the source of endogenous business fluctuations. Monitoring helps reducing the inefficiency caused by moral hazard. However, the incentives of entrepreneurs to demand relationship finance to induce mon...

  4. Firm age, business cycles and aggregate labor market dynamics

    OpenAIRE

    Sedláček, P.

    2011-01-01

    Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well established negative relationship between a firm's size and its growth rate vanishes once its age is taken into account. I extend these findings by showing that, compared to old firms, employment growth in young firms is more vo...

  5. THE COMPOSITE LEADING INDICATOR FOR GERMAN BUSINESS CYCLE

    Directory of Open Access Journals (Sweden)

    Tkacova Andrea

    2017-12-01

    Full Text Available Monitoring and predicting economic cycles have returned to the awareness of economists with the impact of the economic crisis in 2007/2008. To determine the current and future state of the country’s economic cycle, Composite Leading Indicators (CLI can be used. Their structure is being dealt with by institutions at the national and international level (OECD, Eurostat. Correct predictions of public finance development and the entrepreneurship sphere are very important for competitiveness of the country. The aim of the paper is to propose a new Composite Leading Indicator (CLI to monitor and predict the German economy. The analysis of 140 quantitative and qualitative indicators of industry, services, retail, construction, foreign trade, labor market, money aggregates, stock indices, confidence indicators, consumer expectations was performed for the needs of the indicator. As the reference series represents the German economic cycle, the GDP indicator is selected at constant prices for 2010. All selected quarterly time series are applied with seasonal index methods, the Hodrick-Prescott filter (HP filter in the R program, cross-correlation with time shifts, methods selection and scoring, data standardization, identification of the same and different data and the subsequent construction of the CLI of the German economic cycle. The generated CLI can predict the German economy cycle two quarters ahead with a cross-correlation value of 0.867. The forecasting capabilities of the assembled indicator were better than the prediction capabilities of OECD, Eurostat and IFO indicator.

  6. The business cycle and the incidence of workplace injuries: evidence from the U.S.A.

    Science.gov (United States)

    Asfaw, Abay; Pana-Cryan, Regina; Rosa, Roger

    2011-02-01

    The current study explored the association between the business cycle and the incidence of workplace injuries to identify cyclically sensitive industries and the relative contribution of physical capital and labor utilization within industries. Bureau of Labor Statistics nonfatal injury rates from 1976 through 2007 were examined across five industry sectors with respect to several macroeconomic indicators. Within industries, injury associations with utilization of labor and physical capital over time were tested using time series regression methods. Pro-cyclical associations between business cycle indicators and injury incidence were observed in mining, construction, and manufacturing but not in agriculture or trade. Physical capital utilization was the highest potential contributor to injuries in mining while labor utilization was the highest potential contributor in construction. In manufacturing each effect had a similar association with injuries. The incidence of workplace injury is associated with the business cycle. However, the degree of association and the mechanisms through with the business cycle affects the incidence of workplace injuries was not the same across industries. The results suggest that firms in the construction, manufacturing, and mining industries should take additional precautionary safety measures during cyclical upturns. Potential differences among industries in the mechanisms through which the business cycle affects injury incidence suggest different protective strategies for those industries. For example, in construction, additional efforts might be undertaken to ensure workers are adequately trained and not excessively fatigued, while safety procedures continue to be followed even during boom times. Published by Elsevier Ltd.

  7. Business cycle and innovation activity in medium-high and high technology industry in Poland

    Directory of Open Access Journals (Sweden)

    Dzikowski Piotr

    2015-12-01

    Full Text Available This article examines differences in an impact of business cycle phases on innovation activity in medium-high and high technology industry in Poland. It is assumed that each business cycle phase influences innovation activity in the same fashion, but its impact varies and it depends on the firm’s innovation activity. The higher innovation activity the less impact of business cycle. The scope of the survey relates to innovation in MHT and HT industry in Poland. The data concerns the innovation at the firm level and the diffusion “new for the company”. Innovation activity is defined by the following activities: (1 expenditure on research and development and investments in fixed assets not used so far such as: abuildings, premises and land; b machinery and equipment, c computer software; (2 implementation of new products and technological processes and (3 innovation cooperation. The methodological part of the analysis includes a logit modeling. The survey includes 1355 companies. Business cycle has a great influence on innovation activity in MTH and HT industry in Poland. The influence of recovery phase is positive whereas both stagnation and recession phases decrease the probability of innovation activity. The character of influence depends on the propensity to take innovation activity. The higher level of innovation activity the enterprises present the less influence of business cycle they get.

  8. Idiosyncratic Uncertainty, Capacity Utilization and the Business Cycle

    DEFF Research Database (Denmark)

    Fragnart, Jean-Francois; Licandro, Omar; Portier, Franck

    thus hides a diversity of microeconomic situations. The variablity of the capacity utilization allows for a good description of some of the main stylized facts of the busines cycle, propagates and magnifies aggregate technological shocks and generates endogenous persistence (i.e., the output growth...

  9. Modelling health and output at business cycle horizons for the USA.

    Science.gov (United States)

    Narayan, Paresh Kumar

    2010-07-01

    In this paper we employ a theoretical framework - a simple macro model augmented with health - that draws guidance from the Keynesian view of business cycles to examine the relative importance of permanent and transitory shocks in explaining variations in health expenditure and output at business cycle horizons for the USA. The variance decomposition analysis of shocks reveals that at business cycle horizons permanent shocks explain the bulk of the variations in output, while transitory shocks explain the bulk of the variations in health expenditures. We undertake a shock decomposition analysis for private health expenditures versus public health expenditures and interestingly find that while transitory shocks are more important for private sector expenditures, permanent shocks dominate public health expenditures. Copyright (c) 2009 John Wiley & Sons, Ltd.

  10. Economic intermittency in a two-country model of business cycles coupled by investment

    International Nuclear Information System (INIS)

    Saiki, Y.; Chian, A.C.L.; Yoshida, H.

    2011-01-01

    Highlights: → Intermittent economic behavior of Keynes-Goodwin type model is investigated. → After a transition the system keeps its memory before the transition. → The intermittent phenomena is examined from the business cycle patterns. → It is concluded that dynamical patterns do not alter much around the transition. - Abstract: Intermittent behavior of economic dynamics is investigated by a two-country model of Keynes-Goodwin type business cycles. Numerical simulations show that after an economic system evolves from weak chaos to strong chaos the system keeps its memory before the transition and its time series alternates episodically between periods of weakly and strongly chaotic fluctuations. In addition, we examine the intermittent phenomena from the view point of business cycle patterns near the crisis point.

  11. Economic intermittency in a two-country model of business cycles coupled by investment

    Energy Technology Data Exchange (ETDEWEB)

    Saiki, Y., E-mail: saiki@math.sci.hokudai.ac.jp [Department of Mathematics, Hokkaido University, Sapporo 060-0810 (Japan); Chian, A.C.L. [National Institute for Space Research (INPE) and World Institute for Space Environment Research (WISER), P.O. Box 515, Sao Jose dos Campos-SP 12227-010 (Brazil); California Institute of Technology, Pasadena, CA 91125 (United States); Yoshida, H. [College of Economics, Nihon University, Tokyo 101-8360 (Japan)

    2011-06-15

    Highlights: > Intermittent economic behavior of Keynes-Goodwin type model is investigated. > After a transition the system keeps its memory before the transition. > The intermittent phenomena is examined from the business cycle patterns. > It is concluded that dynamical patterns do not alter much around the transition. - Abstract: Intermittent behavior of economic dynamics is investigated by a two-country model of Keynes-Goodwin type business cycles. Numerical simulations show that after an economic system evolves from weak chaos to strong chaos the system keeps its memory before the transition and its time series alternates episodically between periods of weakly and strongly chaotic fluctuations. In addition, we examine the intermittent phenomena from the view point of business cycle patterns near the crisis point.

  12. LIFE CYCLE ASSESSMENT (LCA AS A TOOL FOR BUSINESS STRATEGY

    Directory of Open Access Journals (Sweden)

    Rodrigo Salvador

    2014-09-01

    Full Text Available The growing concern about the development of sustainable production systems leads organizations to seek the support of management tools for decision-making. Considering the whole life cycle of the product, the Life Cycle Assessment (LCA has an important role in this scenario. The objective of this paper is to present, through the theoretical discussion, the role of LCA in strategic planning of the organization. It showed the enormous potential for decision making on the environmental aspect, but also the critical factor in the development shares in the competitive context. The use of LCA can reduce the environmental impacts of the system under study (primary purpose and guide the range of advantages in the fields of marketing, legislation and environmental labeling, competitive strategies, efficiency use of resources and others.

  13. The US Business Cycle, 1867-2006: A Dynamic Factor Approach

    OpenAIRE

    Ritschl, Albrecht; Sarferaz, Samad; Uebele, Martin

    2016-01-01

    We estimate a Stock/Watson index of economic activity to assess U.S. business cycle volatility since 1867. We replicate the Great Moderation of the 1980s and 1990s and find exceptionally low volatility also in the Golden Age of the 1960s. Postwar moderation relative to pre-1914 occurs under constant but not time-varying factor loadings, suggesting structural change toward more volatile sectors. For comparable series, the U.S. postwar business cycle was as volatile overall as under the Classic...

  14. When Arm’s Length is Too Far: Relationship Banking over the Business Cycle

    OpenAIRE

    Beck, T.H.L.; Degryse, H.A.; de Haas, R.; van Horen, N.

    2014-01-01

    Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two contrasting points of the business cycle. We show that relationship lending alleviates credit constraints during a cyclical downturn but not during a boom period. The positive impact of relationship lend...

  15. Business cycle synchronization among member countries of Eurozone during the process of European integration

    Directory of Open Access Journals (Sweden)

    Svatopluk Kapounek

    2007-01-01

    Full Text Available The paper deals with the correlation of the business cycles between the Eurozone member states in the period 1957–2003. The analysed period is divided into the four parts (1959–1972, 1973–1985, 1986–1994, 1995–2003, which correspond to integration waves and relate approximately to the European integration process. The empirical analysis is based on the time series correlation. The authors discuss the impact of the EC enlargements on the business cycles correlation as well as on qualitative changes in the interaction between the states.

  16. Endogenous Business Cycle Dynamics within Metzlers Inventory Model: Adding an Inventory Floor.

    Science.gov (United States)

    Sushko, Irina; Wegener, Michael; Westerhoff, Frank; Zaklan, Georg

    2009-04-01

    Metzlers inventory model may produce dampened fluctuations in economic activity, thus contributing to our understanding of business cycle dynamics. For some parameter combinations, however, the model generates oscillations with increasing amplitude, implying that the inventory stock of firms eventually turns negative. Taking this observation into account, we reformulate Metzlers model by simply putting a floor to the inventory level. Within the new piecewise linear model, endogenous business cycle dynamics may now be triggered via a center bifurcation, i.e. for certain parameter combinations production changes are (quasi-)periodic.

  17. Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014

    Directory of Open Access Journals (Sweden)

    Aleksandar Vasilev

    2017-12-01

    Full Text Available This paper focuses on explaining the economic fluctuations in Bulgaria after the introduction of the currency board arrangement in 1997, the period of macroeconomic stability that ensued, the EU accession, and the episode of the recent global financial crisis. This paper follows Chari et al. (2002, 2007 and performs business cycle accounting (BCA for Bulgaria during the period 1999-2014. As in Cavalcanti (2007, who studies the Portuguese business cycles, most of the volatility in output per capita in Bulgaria over the period is due to variations in the efficiency and labor wedges.

  18. The US business cycle: power law scaling for interacting units with complex internal structure

    Science.gov (United States)

    Ormerod, Paul

    2002-11-01

    In the social sciences, there is increasing evidence of the existence of power law distributions. The distribution of recessions in capitalist economies has recently been shown to follow such a distribution. The preferred explanation for this is self-organised criticality. Gene Stanley and colleagues propose an alternative, namely that power law scaling can arise from the interplay between random multiplicative growth and the complex structure of the units composing the system. This paper offers a parsimonious model of the US business cycle based on similar principles. The business cycle, along with long-term growth, is one of the two features which distinguishes capitalism from all previously existing societies. Yet, economics lacks a satisfactory theory of the cycle. The source of cycles is posited in economic theory to be a series of random shocks which are external to the system. In this model, the cycle is an internal feature of the system, arising from the level of industrial concentration of the agents and the interactions between them. The model-in contrast to existing economic theories of the cycle-accounts for the key features of output growth in the US business cycle in the 20th century.

  19. International and Domestic Business Cycles as Dynamics of a Network of Networks

    Science.gov (United States)

    Ikeda, Yuichi; Iyetomi, Hiroshi; Aoyama, Hideaki; Yoshikawa, Hiroshi

    2014-03-01

    Synchronization in business cycles has attracted economists and physicists as self-organization in the time domain. From a different point of view, international and domestic business cycles are also interesting as dynamics of a network of networks or a multi-level network. In this paper, we analyze the Indices of Industrial Production monthly time-series in Japan from January 1988 to December 2007 to develop a deeper understanding of domestic business cycles. The frequency entrainment and the partial phase locking were observed for the 16 sectors to be direct evidence of synchronization. We also showed that the information of the economic shock is carried by the phase time-series. The common shock and individual shocks are separated using phase time-series. The former dominates the economic recession in all of 1992, 1998 and 2001. In addition to the above analysis, we analyze the quarterly GDP time series for Australia, Canada, France, Italy, the United Kingdom, and the United States from Q2 1960 to Q1 2010 in order to clarify its origin. We find frequency entrainment and partial phase locking. Furthermore, a coupled limit-cycle oscillator model is developed to explain the mechanism of synchronization. In this model, the interaction due to international trade is interpreted as the origin of the synchronization. The obtained results suggest that the business cycle may be described as a dynamics of the multi-level coupled oscillators exposed to random individual shocks.

  20. The insurance business and the nuclear fuel cycle

    International Nuclear Information System (INIS)

    Multhaup, H.T.

    1989-01-01

    The legally required financial security is provided by the insurance business by way of liability insurance systems. Insurance coverage is given for the obligation to pay damages in compliance with section 13 Atomic Energy Act, which refers to all objects of legal protection also defined in section 823, sub-sec. (1) BGB. The legal provisions valid in the F.R.G. are very similar to the provisions in most western countries. They comply with the Paris Convention which determines the legal bases of the international third party liability system which have been supplemented by the Brussels Convention. The reactor accident at Chernobyl has induced discussions and changes in the insurance sector. A major conclusion was that liability criteria must have unambiguous definition and delimitation. A compensation system is feasible only on the basis of clear-cut definitions. A first step in this direction has been done by issuing maximum permissible limits for foodstuffs. Another major instrument for coping with a nuclear accident is the distribution scheme defined in section 35 Atomic Energy Act. (orig./HSCH) [de

  1. A fourth order spline collocation approach for a business cycle model

    Science.gov (United States)

    Sayfy, A.; Khoury, S.; Ibdah, H.

    2013-10-01

    A collocation approach, based on a fourth order cubic B-splines is presented for the numerical solution of a Kaleckian business cycle model formulated by a nonlinear delay differential equation. The equation is approximated and the nonlinearity is handled by employing an iterative scheme arising from Newton's method. It is shown that the model exhibits a conditionally dynamical stable cycle. The fourth-order rate of convergence of the scheme is verified numerically for different special cases.

  2. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, CDMC06/04 (2006), s. 1-39 Institutional research plan: CEZ:AV0Z70850503 Keywords : money velocity * business cycle * endogenous growth Subject RIV: AH - Economics http://www.st- and rews.ac.uk/economics/CDMA/papers/cp0604.pdf

  3. The US Business Cycle, 1867-2006 : A Dynamic Factor Approach

    NARCIS (Netherlands)

    Ritschl, Albrecht; Sarferaz, Samad; Uebele, Martin

    We estimate a Stock/Watson index of economic activity to assess U.S. business cycle volatility since 1867. We replicate the Great Moderation of the 1980s and 1990s and find exceptionally low volatility also in the Golden Age of the 1960s. Postwar moderation relative to pre-1914 occurs under constant

  4. When Arm’s Length is Too Far : Relationship Banking over the Business Cycle

    NARCIS (Netherlands)

    Beck, T.H.L.; Degryse, H.A.; de Haas, R.; van Horen, N.

    2014-01-01

    Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two

  5. Relative cost of capital for marginal firms over the business cycle

    OpenAIRE

    Gikas A. Hardouvelis; Thierry A. Wizman

    1992-01-01

    The authors compare the effects of the business cycle on the cost of capital faced by small, distressed firms and their larger, more financially secure counterparts. The analysis draws on stock market returns data for a broad range of traded companies during the 1963-91 period.

  6. A dynamic IS-LM business cycle model with two time delays in capital accumulation equation

    Science.gov (United States)

    Zhou, Lujun; Li, Yaqiong

    2009-06-01

    In this paper, we analyze a augmented IS-LM business cycle model with the capital accumulation equation that two time delays are considered in investment processes according to Kalecki's idea. Applying stability switch criteria and Hopf bifurcation theory, we prove that time delays cause the equilibrium to lose or gain stability and Hopf bifurcation occurs.

  7. How Business Cycles Affect the Healthcare Sector: A Cross-country Investigation.

    Science.gov (United States)

    Cleeren, Kathleen; Lamey, Lien; Meyer, Jan-Hinrich; De Ruyter, Ko

    2016-07-01

    The long-term relationship between the general economy and healthcare expenditures has been extensively researched, to explain differences in healthcare spending between countries, but the midterm (i.e., business cycle) perspective has been overlooked. This study explores business cycle sensitivity in both public and private parts of the healthcare sector across 32 countries. Responses to the business cycle vary notably, both across spending sources and across countries. Whereas in some countries, consumers and/or governments cut back, in others, private and/or public healthcare buyers tend to spend more. We also assess long-term consequences of business cycle sensitivity and show that public cost cutting during economic downturns deflates the mortality rates, whereas private cut backs increase the long-term growth in total healthcare expenditures. Finally, multiple factors help explain variability in cyclical sensitivity. Private cost cuts during economic downturns are smaller in countries with a predominantly publicly funded healthcare system and more preventive public activities. Public cut backs during contractions are smaller in countries that rely more on tax-based resources rather than social health insurances. Copyright © 2015 John Wiley & Sons, Ltd. Copyright © 2015 John Wiley & Sons, Ltd.

  8. Some Further Evidence on the Rate of Return to Schooling and the Business Cycle.

    Science.gov (United States)

    King, Randall H.

    1980-01-01

    The business cycle has a strong impact on calculated rates of return to schooling. Cross-sectional rates of return are positively related to the unemployment rate in the year the cross-section is taken. The sensitivity of the relationship was not found to be substantially different among the races. (CT)

  9. Effectively Serving the Needs of Today's Business Student: The Product Life Cycle Approach to Class Organization

    Science.gov (United States)

    Eastman, Jacqueline K.; Aviles, Maria; Hanna, Mark

    2012-01-01

    We illustrate a class organization process utilizing the concept of the Product Life Cycle to meet the needs of today's millennial student. In the Introduction stage of a business course, professors need to build structure to encourage commitment. In the Growth stage, professors need to promote the structure through multiple, brief activities that…

  10. Loglinear Approximate Solutions to Real-Business-Cycle Models: Some Observations

    Science.gov (United States)

    Lau, Sau-Him Paul; Ng, Philip Hoi-Tak

    2007-01-01

    Following the analytical approach suggested in Campbell, the authors consider a baseline real-business-cycle (RBC) model with endogenous labor supply. They observe that the coefficients in the loglinear approximation of the dynamic equations characterizing the equilibrium are related to the fundamental parameters in a relatively simple manner.…

  11. Explaining the Stock Market's Reaction to Unemployment News Over the Business Cycle

    NARCIS (Netherlands)

    Driessen, Joost; Kuiper, Ivo

    This paper analyzes the impact of unemployment news on stock markets throughout the business cycle. We show dependence of the reaction to the economic environment by studying the reaction in multiple economic environments that are defined based on both the level and momentum of economic activity.

  12. Last hired, first fired? Black-white unemployment and the business cycle.

    Science.gov (United States)

    Couch, Kenneth A; Fairlie, Robert

    2010-02-01

    Studies have tested the claim that blacks are the last hired during periods of economic growth and the first fired in recessions by examining the movement of relative unemployment rates over the business cycle. Any conclusion drawn from this type of analysis must be viewed as tentative because cyclical movements in the underlying transitions into and out of unemployment are not examined. Using Current Population Survey data matched across adjacent months from 1989-2004, this article provides the first detailed examination of labor market transitions for prime-age black and white men to test the last hired, first fired hypothesis. Considerable evidence is presented that blacks are the first fired as the business cycle weakens. However no evidence is found that blacks are the last hired. Instead, blacks appear to be initially hired from the ranks of the unemployed early in the business cycle and later are drawn from nonparticipation. The narrowing of the racial unemployment gap near the peak of the business cycle is driven by a reduction in the rate of job loss for blacks rather than increases in hiring.

  13. The role of national culture in advertising's sensitivity to business cycles : An investigation across continents

    NARCIS (Netherlands)

    Deleersnyder, B.; DeKimpe, M.; Steenkamp, J.E.M.; Leeflang, P.S.H.

    2009-01-01

    The authors conduct a systematic investigation into the cyclical sensitivity of advertising expenditures in 37 countries, covering four key media: magazines, newspapers, radio, and television. They show that advertising is considerably more sensitive to business-cycle fluctuations than the economy

  14. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, E2007/14 (2007), s. 1-16 ISSN 1749-6101 Institutional research plan: CEZ:MSM0021620846 Keywords : money velocity * business cycle * credit shocks Subject RIV: AH - Economics http://www.cf.ac.uk/carbs/econ/workingpapers/papers/E2007_14.pdf

  15. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    2008-01-01

    Roč. 40, č. 6 (2008), s. 1281-1293 ISSN 0022-2879 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : money velocity * business cycle * credit shocks Subject RIV: AH - Economics Impact factor: 1.422, year: 2008

  16. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, 2007/5 (2007), s. 1-17 ISSN 1585-5600 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : money velocity * business cycle * credit shocks Subject RIV: AH - Economics http://www.mnb.hu/Root/Dokumentumtar/MNB/Kiadvanyok/mnbhu_mnbfuzetek/WP_2007_5.pdf

  17. Measuring Synchronisation and Convergence of Business Cycles in Eurozone, UK and US

    NARCIS (Netherlands)

    Koopman, S.J.; Valle a Azevedo, J.

    2008-01-01

    This paper investigates business cycle relations among different economies in the Euro area. Cyclical dynamics are explicitly modelled as part of a time series model. We introduce mechanisms that allow for increasing or diminishing phase shifts and for time-varying association patterns in different

  18. Is There Really a Global Business Cycle? : A Dynamic Factor Model with Stochastic Factor Selection

    NARCIS (Netherlands)

    T. Berger (Tino); L.C.G. Pozzi (Lorenzo)

    2016-01-01

    textabstractWe investigate the presence of international business cycles in macroeconomic aggregates (output, consumption, investment) using a panel of 60 countries over the period 1961-2014. The paper presents a Bayesian stochastic factor selection approach for dynamic factor models with

  19. The role of mortgages and consumer credit in the business cycle

    NARCIS (Netherlands)

    Sterk, V.

    2011-01-01

    Many households rely on mortgages and consumer credit to finance their expenditures. Lenders usually impose certain conditions on loans, such as limits on the amounts that can be borrowed. Conventional intuition suggests that such conditions are important for our understanding of the business cycle,

  20. Formation of the Cycle of Business Processes of Management of Marketing Activity of a Transport Enterprise

    Directory of Open Access Journals (Sweden)

    Horielov Dmytro O.

    2014-02-01

    Full Text Available The article is devoted to problems of organisation of the process of management of marketing activity of an enterprise. It specifies the model of services of a transport enterprise and provides levels of services and their structure: basic, real, expanded, expected and prospective. The article offers to differentiate planning and realisation of the transportation service by its levels, each of which would correspond with a separate business process of management. It reveals specific features of use of instruments of the traditional, internal and interactive marketing in the market of transportation services. It identifies the structure of the object when managing marketing activity of a transportation enterprise. The article uses the Deming cycle to formulate general principles of formation of business processes of management of marketing activity: “Motivation – Plan – Do – Check – Act”. The proposed cycle would ensure continuous improvement of the said business processes of an enterprise in accordance with international quality standards (ISO.

  1. STYLIZED FACTS OF ROMANIAN BUSINESS CYCLE. AN EMPIRICAL INVESTIGATION (II

    Directory of Open Access Journals (Sweden)

    Mester Ioana

    2012-12-01

    Full Text Available If the more or less regulate moves of the macroeconomic variables are accepted by the economists as a reality, the problem of measuring the aggregate level of the economy in direct correlation with these fluctuations is much more difficult due to the numerous variables involved. The way these variables move in time is very different from a period to another as well as from a country to another. While some variables have already reached their maximum level, others are on their descendent slope. This is the reason why the measurement problem of the aggregate level of the macroeconomic activity deserves our attention. Finding the patterns macroeconomic variables move together and influence each other is important both as a theoretical challenge, but for its practical utility as well. Depending on the result of the measurement process, the authorities are able to conduct their economic policies. More precisely, the monetary or fiscal authority will act differently if the economy is in recession or in expansion. These are the reasons for which a very important phase in the study of the cycle is its descriptive analysis, which is realized by focusing on certain aspects, such as: the length and magnitude, the correlation of the economic variables with the reference series, the study of the cyclical indicators, the analysis of the relative variability of economic series, the diagnose and prevision based on the cyclical indicators.

  2. The Effect of the Great Moderation on the U.S. Business Cycle in a Time-varying Multivariate Trend-cycle Model

    OpenAIRE

    Drew Creal; Siem Jan Koopman; Eric Zivot

    2008-01-01

    In this paper we investigate whether the dynamic properties of the U.S. business cycle have changed in the last fifty years. For this purpose we develop a flexible business cycle indicator that is constructed from a moderate set of macroeconomic time series. The coincident economic indicator is based on a multivariate trend-cycle decomposition model that accounts for time variation in macroeconomic volatility, known as the great moderation. In particular, we consider an unobserved components ...

  3. The stability problem in the Kaldor-Kalecki business cycle model

    International Nuclear Information System (INIS)

    SzydIowski, Marek; Krawiec, Adam

    2005-01-01

    We consider the Kaldor-Kalecki model of the business cycle which is the modified Kaldor model with the Kalecki time delay in investment. The model is formulated in terms of a second-order nonlinear delay differential equation with a negative feedback. We investigate the problem of stability of cycles caused by retarded action. The method of a centre manifold is used to find the conditions for the Hopf bifurcation. The conditions for stability of limit cycles on the centre manifold is given

  4. The influence of economic business cycles on United States suicide rates.

    Science.gov (United States)

    Wasserman, I M

    1984-01-01

    A number of social science investigators have shown that a downturn in the economy leads to an increase in the suicide rate. However, the previous works on the subject are flawed by the fact that they employ years as their temporal unit of analysis. This time period is so large that it makes it difficult for investigators to precisely determine the length of the lag effect, while at the same time removing the autocorrelation effects. Also, although most works on suicide and the business cycle employ unemployment as a measure of a downturn in the business cycle, the average duration of unemployment represents a better measure for determining the social impact of an economic downturn. From 1947 to 1977 the average monthly duration of unemployment is statistically related to the suicide rate using multivariate time-series analysis. From 1910 to 1939 the Ayres business index, a surrogate measure for movement in the business cycle, is statistically related to the monthly suicide rate. An examination of the findings confirms that in most cases a downturn in the economy causes an increase in the suicide rate.

  5. Stability and Hopf Bifurcation Analysis on a Nonlinear Business Cycle Model

    Directory of Open Access Journals (Sweden)

    Liming Zhao

    2016-01-01

    Full Text Available This study begins with the establishment of a three-dimension business cycle model based on the condition of a fixed exchange rate. Using the established model, the reported study proceeds to describe and discuss the existence of the equilibrium and stability of the economic system near the equilibrium point as a function of the speed of market regulation and the degree of capital liquidity and a stable region is defined. In addition, the condition of Hopf bifurcation is discussed and the stability of a periodic solution, which is generated by the Hopf bifurcation and the direction of the Hopf bifurcation, is provided. Finally, a numerical simulation is provided to confirm the theoretical results. This study plays an important role in theoretical understanding of business cycle models and it is crucial for decision makers in formulating macroeconomic policies as detailed in the conclusions of this report.

  6. On a business cycle model with fractional derivative under narrow-band random excitation

    International Nuclear Information System (INIS)

    Lin, Zifei; Li, Jiaorui; Li, Shuang

    2016-01-01

    This paper analyzes the dynamics of a business cycle model with fractional derivative of order  α (0 < α < 1) subject to narrow-band random excitation, in which fractional derivative describes the memory property of the economic variables. Stochastic dynamical system concepts are integrated into the business cycle model for understanding the economic fluctuation. Firstly, the method of multiple scales is applied to derive the model to obtain the approximate analytical solution. Secondly, the effect of economic policy with fractional derivative on the amplitude of the economic fluctuation and the effect on stationary probability density are studied. The results show macroeconomic regulation and control can lower the stable amplitude of economic fluctuation. While in the process of equilibrium state, the amplitude is magnified. Also, the macroeconomic regulation and control improves the stability of the equilibrium state. Thirdly, how externally stochastic perturbation affects the dynamics of the economy system is investigated.

  7. International outsourcing over the business cycle: some intuition for Germany, the Czech Republic and Slovakia

    Directory of Open Access Journals (Sweden)

    Sandrine LEVASSEUR

    2010-12-01

    Full Text Available In this paper, we assess the extent to which multinational firms – in the first instance, the German ones – may adjust their international outsourcing over the business cycle in the Czech Republic and Slovakia. For that purpose, we have used monthly data of production for the manufacturing sector as a whole and some of its sub-sectors, since 2000 onwards. Our econometrical estimates suggest that there would be an asymmetry in the international outsourcing across the states of the economy, meaning that multinationals firms would be engaged differently in outsourcing activities, depending on whether bad or good economic times occur. Yet, such an asymmetry is found increasing over the time for German and French multinationals operating in the transport equipment sector of Slovakia. Another conclusion is that international outsourcing made by multinational firms in Slovakia may account for a portion of its large business cycles volatility.

  8. Numerical Exploration of Kaldorian Macrodynamics: Hopf-Neimark Bifurcations and Business Cycles with Fixed Exchange Rates

    Directory of Open Access Journals (Sweden)

    Toichiro Asada

    2007-01-01

    Full Text Available We explore numerically a three-dimensional discrete-time Kaldorian macrodynamic model in an open economy with fixed exchange rates, focusing on the effects of variation of the model parameters, the speed of adjustment of the goods market α, and the degree of capital mobility β on the stability of equilibrium and on the existence of business cycles. We determine the stability region in the parameter space and find that increase of α destabilizes the equilibrium more quickly than increase of β. We determine the Hopf-Neimark bifurcation curve along which business cycles are generated, and discuss briefly the occurrence of Arnold tongues. Bifurcation and Lyapunov exponent diagrams are computed providing information on the emergence, persistence, and amplitude of the cycles and illustrating the complex dynamics involved. Examples of cycles and other attractors are presented. Finally, we discuss a two-dimensional variation of the model related to a “wealth effect,” called model 2, and show that in this case, α does not destabilize the equilibrium more quickly than β, and that a Hopf-Neimark bifurcation curve does not exist in the parameter space, therefore model 2 does not produce cycles.

  9. Part-time Employment and Business Cycle in Central and Eastern Europe

    Czech Academy of Sciences Publication Activity Database

    Fialová, Kamila

    2017-01-01

    Roč. 17, č. 2 (2017), s. 179-203 ISSN 1213-2446 R&D Projects: GA ČR(CZ) GA14-15008S Institutional support: RVO:68378025 Keywords : business cycle * part-time employment * working time Subject RIV: AH - Economics OBOR OECD: Applied Economics, Econometrics https://www.degruyter.com/downloadpdf/j/revecp.2017.17.issue-2/revecp-2017-0009/revecp-2017-0009.pdf

  10. Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity

    OpenAIRE

    Schmitt-Grohé, Stephanie; Uribe, Martín

    2010-01-01

    This paper identifies a new source of business-cycle fluctuations. Namely, a common stochastic trend in neutral and investment-specific productivity. We document that in U.S. postwar quarterly data total factor productivity (TFP) and the relative price of investment are cointegrated. We show theoretically that TFP and the relative price of investment are cointegrated if and only if neutral and investment-specific productivity share a common stochastic trend. We econometrically estimate an RBC...

  11. The great moderation of inflation: a structural analysis of recent U.S. monetary business cycles

    OpenAIRE

    Casares Polo, Miguel; Vázquez, Jesús

    2012-01-01

    U.S. inflation has experienced a great moderation in the last two decades. This paper examines the factors behind this and other stylized facts, such as the weaker correlation of inflation and nominal interest rate (Gibson paradox). Our findings point at lower exogenous variability of supply-side shocks and, to a lower extent, structural changes in money demand, monetary policy, and firms’ sticky pricing behavior as the main driving forces of the changes observed in recent U.S. business cycle...

  12. The Role of Permanent and Transitory Components in Business Cycle Volatility Moderation

    OpenAIRE

    Korenok, Oleg; Radchenko, Stanislav

    2004-01-01

    The paper examines the processes underlying economic fluctuations by investigating the volatility moderation of U.S. economy in the early 1980's. We decompose the volatility decline using a dynamic factor framework into a common stochastic trend, common transitory component and idiosyncratic components. We find that the moderation of business cycle was a result of the moderation in transitory and idiosyncratic components. Our results suggest that important part of stochastic process that driv...

  13. The impact of monetary policy on New Zealand business cycles and inflation variability

    OpenAIRE

    Nathan McLellan; Robert A Buckle; Kunhong Kim

    2004-01-01

    This paper uses the open economy structural VAR model developed in Buckle, Kim, Kirkham, McLellan and Sharma (2002) to evaluate the impact of monetary policy on New Zealand business cycles and inflation variability and the output/inflation variability trade-off. The model includes a forward-looking Taylor Rule to identify monetary policy and the impact of monetary policy is evaluated by deriving a monetary policy index using a procedure suggested by Dungey and Pagan (2000). Monetary policy ha...

  14. Should we expect financial globalization to have significant effects on business cycles?

    OpenAIRE

    Iversen, Jens

    2009-01-01

    Empirical research suggests that financial globalization has insignificant effects on business cycles. Based on standard theoretical models it might be conjectured that the effects should be significant. I show that this conjecture is wrong. Theoretical effects of financial globalization can be determined to any level of precision by expanding the underlying artificial samples. In contrast, in the data the effects are imprecisely estimated because of short samples. I show that if the conclusi...

  15. Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan

    OpenAIRE

    Bankim Chadha; Eswar Prasad

    1997-01-01

    This paper analyzes the relationship between the real exchange rate and the business cycle in Japan during the floating rate period. A structural vector autoregression is used to identify different types of macroeconomic shocks that determine fluctuations in aggregate output and the real exchange rate. Relative nominal and real demand shocks are found to be the main determinants of variation in real exchange rate changes, whereas relative output growth is driven primarily by supply shocks. Hi...

  16. Credit spread variability in U.S. business cycles: the Great Moderation versus the Great Recession

    OpenAIRE

    Hylton Hollander; Guangling Liu

    2014-01-01

    This paper establishes the prevailing financial factors that influence credit spread variability, and its impact on the U.S. business cycle over the Great Moderation and Great Recession periods. To do so, we develop a dynamic general equilibrium framework with a central role of financial intermediation and equity assets. Over the Great Moderation and Great Recession periods, we find an important role for bank market power (sticky rate adjustments and loan rate markups) on credit spread variab...

  17. Credit spread variability in U.S. business cycles: The Great Moderation versus the Great Recession

    OpenAIRE

    Hylton Hollander and Guangling Liu

    2014-01-01

    This paper establishes the prevailing financial factors that influence credit spread variability, and its impact on the U.S. business cycle over the Great Moderation and Great Recession periods. To do so, we develop a dynamic general equilibrium framework with a central role of financial intermediation and equity assets. Over the Great Moderation and Great Recession periods, we find an important role for bank market power (sticky rate adjustments and loan rate markups) on credit spread variab...

  18. Income-related inequalities in diseases and health conditions over the business cycle

    OpenAIRE

    Asgeirsdottir, Tinna Laufey; Hildur Margrét, Jóhannsdóttir

    2017-01-01

    How business cycles affect income-related distribution of diseases and health disorders is largely unknown. We examine how the prevalence of thirty diseases and health conditions is distributed across the income spectrum using survey data collected in Iceland in 2007, 2009 and 2012. Thus, we are able to take advantage of the unusually sharp changes in economic conditions in Iceland during the Great Recession initiated in 2008 and the partial recovery that had already taken place by 2012 to an...

  19. Incidence of remuneration to capital on the colombian business cycle from 1980 to 2005

    Directory of Open Access Journals (Sweden)

    Julio César Chamorro Futinico

    2011-07-01

    Full Text Available The business cycle was one of the most important issues in the economic agendafrom the late 19th Century to the mid 20th Century. The importance of the studylay in the priority of finding the causes and duration of economic crisis, and tobe able to determine or predict how often they would happen. Currently, and with the recent financial crisis in the United States (2008 and in Colombia(1998-2009, among others, this study has gained importance once more. Thispaper presents a number of points of view on the matter and focuses on an approach that has been given very little consideration: Michal Kalecki’s theory,which provides a basis for analyzing the Colombian business cycle from 1980to 2005, and thus compare the model estimated through the Three-Stage LeastSquares (3SLS method with the behavior of the remuneration to capital during the same period. Based on this, a close relation is found between the latter, the decision to invest and, therefore, the declining phase of the business cycle.

  20. Liquidity and the business cycle: Empirical evidence from the Greek banking sector

    Directory of Open Access Journals (Sweden)

    Vogiazas Sophocles

    2013-01-01

    Full Text Available In the aftermath of the global financial turmoil the negative market sentiment and the challenging macroeconomic environment in Greece have severely affected the banking sector, which faces funding and liquidity challenges, deteriorating asset quality, and weakening profitability. This paper aims to investigate how banks’ liquidity interacted with solvency and the business cycle during the period 2004-2010. To this end a panel of 17 Greek banks is utilized which, in conjunction with cointegrating techniques and one-way static and dynamic panel models, explores the presence and the strength of the relationship between banks’ liquidity and the business cycle, while allowing for the role of banks’ solvency. Addressing the liquidity risk of the Greek banking sector and the liquidity-solvency nexus remains largely an uncharted area. The results generated provide clear-cut evidence on the linkages between banks’ market liquidity and the business cycle, as reflected in the real GDP and the effective exchange rate. Yet the results display a transmission channel that runs from banks’ solvency to liquidity and from country risk to bank risk.

  1. QR-GARCH-M Model for Risk-Return Tradeoff in U.S. Stock Returns and Business Cycles

    OpenAIRE

    Nyberg, Henri

    2010-01-01

    In the empirical finance literature findings on the risk return tradeoff in excess stock market returns are ambiguous. In this study, we develop a new QR-GARCH-M model combining a probit model for a binary business cycle indicator and a regime switching GARCH-in-mean model for excess stock market return with the business cycle indicator defining the regime. Estimation results show that there is statistically significant variation in the U.S. excess stock returns over the business cycle. Howev...

  2. Business

    Science.gov (United States)

    Los Alamos National Laboratory Search Site submit About Mission Business Newsroom Publications Los : Environmental Documents, Reports LANL Home Calendar Search Contacts Business LANL 75th logo Business Los Alamos is a premier R&D laboratory seeking to do business with qualified companies offering value and

  3. Life Cycle Assessment as Entrepreneurial Tool for Business Management and Green Innovations

    Directory of Open Access Journals (Sweden)

    Cassiano Moro Piekarski

    2013-01-01

    Full Text Available A transition for a green economy has encouraged companies to use new tools which promote internal corporate entrepreneurship, increase the competitiveness and achieve sustainable results. This article presented a theoretical discussion of how the Life Cycle Assessment (LCA can presents as an entrepreneurial tool for modern business management and green innovation. Studies of LCA were analyzed showing benefits and applications in the areas of strategic planning, production, process of development of products, search and development, social and environmental responsibility, and marketing. As for green innovations, there were analyzed studies of innovations in products, processes and services. The tool assists in making sustainable decisions, fortifies the management of the business processes, the management of operations and the promotion of greener innovations.

  4. IS READY ROMANIA FOR EURO ADOPTION? FROM STRUCTURAL CONVERGENCE TO BUSINESS CYCLE SYNCHRONIZATION

    Directory of Open Access Journals (Sweden)

    Marinas Marius - Corneliu

    2011-12-01

    Full Text Available The objective of this study is to identify gaps between economic and commercial structures between Romania and the euro area and to explain whether the results obtained justify recently decision to delay euro adoption beyond 2015. According to theory of optimum currency areas, the existence of similar economic structures, increasing trade integration and synchronization of business cycles with monetary union will provide greater symmetry of shocks between Romania and the euro area. If the shocks are more symmetrical, then common monetary policy of the European Central Bank will act as a tool to neutralize the shocks in the case of Romania, and the euro adoption would have fewer adverse effects. To meet the research objective, we have structured this paper into three parts. In the first part we referred to the importance of the proposed theme in the economic literature. In the second part, we used several statistical methods to identify how divergent is Romania relative to the euro area economies. The results obtained show increasing divergence between economic structures until 2009 year using the NACE 6 methodology. In fact, Romania has the most divergent structure in EU-27 countries, being characterized by lowest contribution of services to GDP. However, structural differences do not constitute an obstacle to euro adoption, as long as Romania becomes more commercially integrated with other European countries. Thus, Romania is the seventh economy in terms of trade with the EU-27 (73.3% of exports and 74.3% of imports, and the degree of convergence between the structure of exports and imports have increased significantly compared with 2000 year. In the third part, we estimated the degree of synchronization of business cycles between Romania and the euro area, based on Hodrick-Prescott filter. Results showed an increasing correlation of business cycles as a result of increasing industrial activity and export synchronization.

  5. Stability and bifurcation analysis in a kind of business cycle model with delay

    International Nuclear Information System (INIS)

    Zhang Chunrui; Wei Junjie

    2004-01-01

    A kind of business cycle model with delay is considered. Firstly, the linear stability of the model is studied and bifurcation set is drawn in the appropriate parameter plane. It is found that there exist Hopf bifurcations when the delay passes a sequence of critical values. Then the explicit algorithm for determining the direction of the Hopf bifurcations and the stability of the bifurcating periodic solutions are derived, using the normal form method and center manifold theorem. Finally, a group conditions to guarantee the global existence of periodic solutions is given, and numerical simulations are performed to illustrate the analytical results found

  6. Do Business Cycles Have Long-Term Impact for Particular Cohorts?

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Maibom, Jonas; Svarer, Michael

    Will the current employment crisis produce lost generations with permanently lower labour market attachment? Taking an explicit cohort perspective and based on Danish data we do not find strong persistence in employment rates at the cohort level. Younger workers tend to be more exposed to business...... cycle fluctuations than older workers, but importantly they recover more quickly from such set-backs than older workers for whom persistence is stronger. Moreover, no cohorts have been disproportionately affected by exposure to a sequence of adverse shocks. An explicit account of overlapping cohorts...

  7. Born at the right time? Childhood health and the business cycle.

    Science.gov (United States)

    Angelini, Viola; Mierau, Jochen O

    2014-05-01

    We analyze the relationship between the state of the business cycle at birth and childhood health. We use a retrospective survey on self-reported childhood health for ten Western European countries and combine it with historically and internationally comparable data on the Gross Domestic Product. We validate the self-reported data by comparing them to realized illness spells. We find a positive relationship between being born in a recession and childhood health. This relationship is not driven by selection effects due to heightened infant mortality during recessions. Placebo regressions indicate that the observed effect is not spurious. Copyright © 2014 Elsevier Ltd. All rights reserved.

  8. Classical linear-control analysis applied to business-cycle dynamics and stability

    Science.gov (United States)

    Wingrove, R. C.

    1983-01-01

    Linear control analysis is applied as an aid in understanding the fluctuations of business cycles in the past, and to examine monetary policies that might improve stabilization. The analysis shows how different policies change the frequency and damping of the economic system dynamics, and how they modify the amplitude of the fluctuations that are caused by random disturbances. Examples are used to show how policy feedbacks and policy lags can be incorporated, and how different monetary strategies for stabilization can be analytically compared. Representative numerical results are used to illustrate the main points.

  9. On business cycles synchronization in Europe: A note on network analysis

    Science.gov (United States)

    Matesanz, David; Ortega, Guillermo J.

    2016-11-01

    In this paper we examine synchronization in European business cycles from 1950 to 2013. Herein we further investigate previous and controversial results that arise from complex network analysis of this topic. By focusing on the importance of different configurations in the commonly used rolling windows and threshold significance levels, we find that selections are critical to obtaining accurate networks. Output co-movement and connectivity show no appreciable changes during the beginning of the Euro period, but rather dramatic jumps are observed since the outbreak of the global financial crisis. At this time, previous lead/lag effects disappeared and in-phase synchronization across Europe was observed.

  10. Bank Credit Risk Management and Rating Migration Analysis on the Business Cycle

    Directory of Open Access Journals (Sweden)

    Dimitris Gavalas

    2014-03-01

    Full Text Available Credit risk measurement remains a critical field of top priority in banking finance, directly implicated in the recent global financial crisis. This paper examines the dynamic linkages between credit risk migration due to rating shifts and prevailing macroeconomic conditions, reflected in alternative business cycle states. An innovative empirical methodology applies to bank internal rating data, under different economic scenarios and investigates the implications of credit risk quality shifts for risk rating transition matrices. The empirical findings are useful and critical for banks to align to Basel guidelines in relation to core capital requirements and risk-weighted assets in the underlying loan portfolio.

  11. Gasoline Prices, Transport Costs, and the U.S. Business Cycles

    OpenAIRE

    Hakan Yilmazkuday

    2014-01-01

    The e¡èects of gasoline prices on the U.S. business cycles are investigated. In order to distinguish between gasoline supply and gasoline demand shocks, the price of gasoline is endogenously determined through a transportation sector that uses gasoline as an input of production. The model is estimated for the U.S. economy using five macroeconomic time series, including data on transport costs and gasoline prices. The results show that although standard shocks in the literature (e.g., technolo...

  12. Magnitude X on the Richter Scale: Welfare Cost of Business Cycles in Developing Countries

    OpenAIRE

    Stephane Pallage; Michel Robe

    2000-01-01

    Economic fluctuations are much stronger in developing countries than in the United States. Yet, while a large literature debates what constitutes a reasonable estimate of the welfare cost of business cycles in the US, it remains an open question how large that cost is in developing countries. Using several model economies, we provide such a measure for a large number of low--income countries. Our first main result is that the welfare cost of output fluctuations per se is far from trivial in t...

  13. Business cycles and fertility dynamics in the United States: a vector autoregressive model.

    Science.gov (United States)

    Mocan, N H

    1990-01-01

    "Using vector-autoregressions...this paper shows that fertility moves countercyclically over the business cycle....[It] shows that the United States fertility is not governed by a deterministic trend as was assumed by previous studies. Rather, fertility evolves around a stochastic trend. It is shown that a bivariate analysis between fertility and unemployment yields a procyclical picture of fertility. However, when one considers the effects on fertility of early marriages and the divorce behavior as well as economic activity, fertility moves countercyclically." excerpt

  14. Extracting a robust U.S. business cycle using a time-varying multivariate model-based bandpass filter

    NARCIS (Netherlands)

    Koopman, S.J.; Creal, D.D.

    2010-01-01

    We develop a flexible business cycle indicator that accounts for potential time variation in macroeconomic variables. The coincident economic indicator is based on a multivariate trend cycle decomposition model and is constructed from a moderate set of US macroeconomic time series. In particular, we

  15. The troika of business cycle, efficiency and volatility. An East Asian perspective

    Science.gov (United States)

    Arshad, Shaista; Rizvi, Syed Aun R.

    2015-02-01

    The EMH has been the subject of much debate over the past few decades, with a recent surge in interest in Asian markets. Asian markets which traditionally comprise of many emerging markets are more volatile and speculative in nature. The heart of our study focuses on the East Asian economies, which have experienced massive capital inflows. This begs the question of whether or not the stock markets are efficient enough for further investment and development. Our paper differs from existing literature as it focuses on deriving weak form efficiency rankings during different business cycle phases. We endeavour further to assess the volatility and business cycle phases. Taking Malaysia, Indonesia, Singapore and South Korea owing to their economic and financial development, we use MF-DFA to derive efficiency rankings and find firstly, the overall efficiency has improved over the past two decades and secondly, markets are more efficient in growth phases in comparison to its preceding decline. Similarly, employing wavelet decomposition in conjunction with EGARCH, we obtain volatility of stock markets in two distinct time horizons, i.e. short term and long term. We find the markets to be more stable during economic boom than its preceding bust. Our results confer with mainstream literature.

  16. Turning points in nonlinear business cycle theories, financial crisis and the 2007-2008 downturn.

    Science.gov (United States)

    Dore, Mohammed H I; Singh, Ragiv G

    2009-10-01

    This paper reviews three nonlinear dynamical business cycle theories of which only one (The Goodwin model) reflects the stylized facts of observed business cycles and has a plausible turning point mechanism. The paper then examines the US (and now global) financial crisis of 2008 and the accompanying downturn in the US. The paper argues that a skewed income distribution could not sustain effective demand and that over the 2001-2006 expansion demand was maintained through massive amounts of credit, with more than 50 percent of sales in the US being maintained through credit. A vector autoregression model confirms the crucial role played by credit. However legislative changes that dismantled the restrictions placed on the financial sector after the crash of 1929 and the consequent structural changes in the financial sector after 1980 enabled the growth of new debt instruments and credit. But overexpansion of credit when profits and house prices were declining in 2005/06 led to a nonlinear shift due to a new realization of the poor quality of some of this debt, namely mortgage backed securities. Bankruptcies, followed by retrenchment at the banks, then led to the bursting of the credit bubble, with the possibility of a severe recession.

  17. Dynamics of a delayed business cycle model with general investment function

    International Nuclear Information System (INIS)

    Riad, Driss; Hattaf, Khalid; Yousfi, Noura

    2016-01-01

    Highlights: • A delayed business cycle model is formulated and rigorously analyzed. • Well-posedness of the model and local stability of the economic equilibrium are determined. • Direction and stability of the Hopf bifurcation are investigated. • Global existence of bifurcating periodic solutions is established. • Numerical simulations are presented to illustrate our theoretical results. - Abstract: The aim of this paper is to study the dynamics of a delayed business cycle model with general investment function. The model describes the interaction of the gross product and capital stock. Furthermore, the delay represents the time between the decision of investment and implementation. Firstly, we show that the model is well posed by proving the global existence and boundedness of solutions. Secondly, we determine the economic equilibrium of the model. By analyzing the characteristic equation, we investigate the stability of the economic equilibrium and the local existence of Hopf bifurcation. Also, the direction of the Hopf bifurcation and the stability of the bifurcating periodic solutions are derived by applying the normal form method and center manifold theory. Moreover, the global existence of bifurcating periodic solutions is established by using the global Hopf bifurcation theory. Finally, our theoretical results are illustrated with some numerical simulations.

  18. Credit Default and Business Cycles: An Empirical Investigation of Brazilian Retail Loans

    Directory of Open Access Journals (Sweden)

    Arnildo da Silva Correa

    2014-09-01

    Full Text Available We use microdata from the Credit Information System (SCR of the Central Bank of Brazil to study the relationship between credit default and business cycles. In particular, we study the first part of the argument underlying the discussion about procyclicality related to the Basel II Accord: that recessions might increase credit defaults and have adverse impacts on the losses in portfolios of lender institutions. We explore both time series and cross-sectional variation in the data. Our data on the individual level are composed of retail loan transactions in two modalities-Consumer Credit and Vehicle Financing-from 2003 to 2008. Our results support the idea of a negative relationship between business cycles and credit default, but less strong than suggested in previous studies that use corporate data. We also find low and dispersed default correlations, and smaller losses in Value at Risk (VaR experiments than those found in the literature. These results may be possibly explained by the fact that, in the retail sector, loans are given to a large number of individuals, which may help to diversify risks.

  19. Stabilization of business cycles of finance agents using nonlinear optimal control

    Science.gov (United States)

    Rigatos, G.; Siano, P.; Ghosh, T.; Sarno, D.

    2017-11-01

    Stabilization of the business cycles of interconnected finance agents is performed with the use of a new nonlinear optimal control method. First, the dynamics of the interacting finance agents and of the associated business cycles is described by a modeled of coupled nonlinear oscillators. Next, this dynamic model undergoes approximate linearization round a temporary operating point which is defined by the present value of the system's state vector and the last value of the control inputs vector that was exerted on it. The linearization procedure is based on Taylor series expansion of the dynamic model and on the computation of Jacobian matrices. The modelling error, which is due to the truncation of higher-order terms in the Taylor series expansion is considered as a disturbance which is compensated by the robustness of the control loop. Next, for the linearized model of the interacting finance agents, an H-infinity feedback controller is designed. The computation of the feedback control gain requires the solution of an algebraic Riccati equation at each iteration of the control algorithm. Through Lyapunov stability analysis it is proven that the control scheme satisfies an H-infinity tracking performance criterion, which signifies elevated robustness against modelling uncertainty and external perturbations. Moreover, under moderate conditions the global asymptotic stability features of the control loop are proven.

  20. Coupled Oscillator Model of the Business Cycle withFluctuating Goods Markets

    Science.gov (United States)

    Ikeda, Y.; Aoyama, H.; Fujiwara, Y.; Iyetomi, H.; Ogimoto, K.; Souma, W.; Yoshikawa, H.

    The sectoral synchronization observed for the Japanese business cycle in the Indices of Industrial Production data is an example of synchronization. The stability of this synchronization under a shock, e.g., fluctuation of supply or demand, is a matter of interest in physics and economics. We consider an economic system made up of industry sectors and goods markets in order to analyze the sectoral synchronization observed for the Japanese business cycle. A coupled oscillator model that exhibits synchronization is developed based on the Kuramoto model with inertia by adding goods markets, and analytic solutions of the stationary state and the coupling strength are obtained. We simulate the effects on synchronization of a sectoral shock for systems with different price elasticities and the coupling strengths. Synchronization is reproduced as an equilibrium solution in a nearest neighbor graph. Analysis of the order parameters shows that the synchronization is stable for a finite elasticity, whereas the synchronization is broken and the oscillators behave like a giant oscillator with a certain frequency additional to the common frequency for zero elasticity.

  1. A generalized business cycle model with delays in gross product and capital stock

    International Nuclear Information System (INIS)

    Hattaf, Khalid; Riad, Driss; Yousfi, Noura

    2017-01-01

    Highlights: • A generalized business cycle model is proposed and rigorously analyzed. • Well-posedness of the model and local stability of the economic equilibrium are investigated. • Direction of the Hopf bifurcation and stability of the bifurcating periodic solutions are determined. • A special case and some numerical simulations are presented. - Abstract: In this work, we propose a delayed business cycle model with general investment function. The time delays are introduced into gross product and capital stock, respectively. We first prove that the model is mathematically and economically well posed. In addition, the stability of the economic equilibrium and the existence of Hopf bifurcation are investigated. Our main results show that both time delays can cause the macro-economic system to fluctuate and the economic equilibrium to lose or gain its stability. Moreover, the direction of the Hopf bifurcation and the stability of the bifurcating periodic solutions are determined by means of the normal form method and center manifold theory. Furthermore, the models and results presented in many previous studies are improved and generalized.

  2. Mathematical model of the competition life cycle under limited resources conditions: Problem statement for business community

    Science.gov (United States)

    Shelomentsev, A. G.; Medvedev, M. A.; Berg, D. B.; Lapshina, S. N.; Taubayev, A. A.; Davletbaev, R. H.; Savina, D. V.

    2017-12-01

    Present study is devoted to the development of competition life cycle mathematical model in the closed business community with limited resources. Growth of each agent is determined by the balance of input and output resource flows: input (cash) flow W is covering the variable V and constant C costs and growth dA/dt of the agent's assets A. Value of V is proportional to assets A that allows us to write down a first order non-stationary differential equation of the agent growth. Model includes the number of such equations due to the number of agents. The amount of resources that is available for agents vary in time. The balances of their input and output flows are changing correspondingly to the different stages of the competition life cycle. According to the theory of systems, the most complete description of any object or process is the model of its life cycle. Such a model describes all stages of its development: from the appearance ("birth") through development ("growth") to extinction ("death"). The model of the evolution of an individual firm, not contradicting the economic meaning of events actually observed in the market, is the desired result from modern AVMs for applied use. With a correct description of the market, rules for participants' actions, restrictions, forecasts can be obtained, which modern mathematics and the economy can not give.

  3. Unlocking how start-ups create business value with mobile applications: Development of an App-enabled Business Innovation Cycle

    NARCIS (Netherlands)

    Ehrenhard, Michel Léon; Wijnhoven, Alphonsus B.J.M.; van den Broek, Tijs Adriaan; Zinck Stagno, Marc

    2017-01-01

    Little is known about the business value that mobile applications (apps) can create, and how start-ups can leverage this value. We present a multiple-case study to both explain the process of app-enabled value creation and the type of value outcomes associated with the use of apps for business

  4. Political Business Cycles in Turkey: A Fiscal Approach(Türkiye’de Politik İş Çevrimleri: Mali Bir Yaklaşım

    Directory of Open Access Journals (Sweden)

    Mesut KARAKAŞ

    2013-01-01

    Full Text Available Political business cycle studies have arisen as alternatives to pure business cycle studies. The studies in the political business cycle area mainly try to answer the question that whether the voters are manipulated in election periods or not. Also, the methods which the politicians use to be re-elected are uncovered. In this paper, we ask the question whether there are opportunistic political business cycles in Turkey or not. Our study focuses on the fiscal policies to discover the Turkish case. We use simple but powerful time series models in ARMA context to discover the relationships between political business cycles and fiscal variables. Empirical results show that there are quite perfect opportunistic political business cycles in Turkey.

  5. The relationship between macroeconomic and industry-specific business cycle indicators and work-related injuris among Danish construction workers

    DEFF Research Database (Denmark)

    Nielsen, Kent Jacob; Lander, Flemming; Lauritsen, Jens

    2015-01-01

    Objectives The current study examines and compares the relationship between both macroeconomic and industry-specific business cycle indicators, and work-related injuries among construction workers in Denmark using emergency department (ED) injury data and also officially reported injuries...... (range 0.14–0.20) and WEA injuries (range 0.13–0.36). Furthermore, although there is some variability in the strength of the relationship of the different business cycle indicators, the relationships are generally not stronger for the WEA injuries than for the ED injuries, except for general unemployment....... Similarly, no substantial differences in strength of relation between industry-specific and macroeconomic indicators were identified. Conclusions The study shows that there was no difference in the relationship between business cycle indicators, and WEA and ED injury data. This indicates that changes...

  6. The timing of pollution abatement investments and the business cycle. An international comparison

    Energy Technology Data Exchange (ETDEWEB)

    Bouman, M. [Department of Economics, Faculty of Economics and Econometrics, University of Amsterdam, Amsterdam (Netherlands); Hofkes, M.W. [Department of Economics, Faculty of Economics and Econometrics, Vrije Universiteit Amsterdam, Amsterdam (Netherlands)

    1995-12-31

    A simple equilibrium business-cycle model for an economy with both clean- and dirty-producing plants is developed. The authors derive that the optimal timing of cleaning the production process is during a slowdown of the economy. Due to external effects and market failures the timing of pollution abatement investments is not expected to be optimal in the real world. We test the optimality of the timing of those investments with data for Germany, the Netherlands and the U.S.A. It appears that for more than 25 percent of the sectors pollution abatement investments show counter-cyclical behaviour, while in only one sector these investments are pro-cyclical. 1 tab., 3 appendices, 10 refs.

  7. How to Achieve Supply Chain Sustainability Efficiently? Taming the Triple Bottom Line Split Business Cycle

    Directory of Open Access Journals (Sweden)

    Matthias Klumpp

    2018-02-01

    Full Text Available For sustainable supply chains, specific concepts regarding how to efficiently improve sustainability are needed in a global comprehensive triple bottom line (TBL approach, especially for forwarders as central actors in supply chain design. Such specific advice is provided by reporting empirical DEA Malmquist index findings from seven large European forwarders regarding a TBL sustainability analysis from 2006 to 2016. A major obstacle in improving sustainability consists in the newly discovered fact that with the business cycle, the three TBL areas of economic, ecologic and social objectives for logistics are undergoing different up- and down-ward trends, making it very hard to improve all three simultaneously. Additional factors are identified in the characteristics of size and government influence regarding the sustainability efficiency of forwarders. This has important impacts on supply chain design like e.g., with selection criteria.

  8. The benefits of bad economies: Business cycles and time-based work-life conflict.

    Science.gov (United States)

    Barnes, Christopher M; Lefter, Alexandru M; Bhave, Devasheesh P; Wagner, David T

    2016-04-01

    Recent management research has indicated the importance of family, sleep, and recreation as nonwork activities of employees. Drawing from entrainment theory, we develop an expanded model of work-life conflict to contend that macrolevel business cycles influence the amount of time employees spend on both work and nonwork activities. Focusing solely on working adults, we test this model in a large nationally representative dataset from the Bureau of Labor Statistics that spans an 8-year period, which includes the "Great Recession" from 2007 through 2009. We find that during economic booms, employees work more and therefore spend less time with family, sleeping, and recreating. In contrast, in recessionary economies, employees spend less time working and therefore more time with family, sleeping, and recreating. Thus, we extend the theory on time-based work-to-family conflict, showing that there are potential personal and relational benefits for employees in recessionary economies. (c) 2016 APA, all rights reserved).

  9. Network-induced oscillatory behavior in material flow networks and irregular business cycles

    Science.gov (United States)

    Helbing, Dirk; Lämmer, Stefen; Witt, Ulrich; Brenner, Thomas

    2004-11-01

    Network theory is rapidly changing our understanding of complex systems, but the relevance of topological features for the dynamic behavior of metabolic networks, food webs, production systems, information networks, or cascade failures of power grids remains to be explored. Based on a simple model of supply networks, we offer an interpretation of instabilities and oscillations observed in biological, ecological, economic, and engineering systems. We find that most supply networks display damped oscillations, even when their units—and linear chains of these units—behave in a nonoscillatory way. Moreover, networks of damped oscillators tend to produce growing oscillations. This surprising behavior offers, for example, a different interpretation of business cycles and of oscillating or pulsating processes. The network structure of material flows itself turns out to be a source of instability, and cyclical variations are an inherent feature of decentralized adjustments.

  10. A comparative view of the relationship between the business cycle and mortality, 1871-1900.

    Science.gov (United States)

    Chernomas, R

    1984-01-01

    This article compares two views on the relationship between the business cycle and mortality for the years 1871-1900. First, the views of Robert Higgs, a prominent mainstream economic historian, of the working and living conditions of this period are examined so that we may trace the reasons for his dependence on immigrants and the germs they bring with them as explanations for the procyclical relationship between mortality and short-term economic growth. This explanation is then criticized by re-examining the working and living conditions of this period and by linking these conditions to a disease theory that does not depend on exogenous forces to explain mortality patterns but rather one that focuses on historically specific political and economic processes and decisions.

  11. Mortality and the business cycle: Evidence from individual and aggregated data.

    Science.gov (United States)

    van den Berg, Gerard J; Gerdtham, Ulf G; von Hinke, Stephanie; Lindeboom, Maarten; Lissdaniels, Johannes; Sundquist, Jan; Sundquist, Kristina

    2017-12-01

    There has been much interest recently in the relationship between economic conditions and mortality, with some studies showing that mortality is pro-cyclical, while others find the opposite. Some suggest that the aggregation level of analysis (e.g. individual vs. regional) matters. We use both individual and aggregated data on a sample of 20-64 year-old Swedish men from 1993 to 2007. Our results show that the association between the business cycle and mortality does not depend on the level of analysis: the sign and magnitude of the parameter estimates are similar at the individual level and the aggregate (county) level; both showing pro-cyclical mortality. Copyright © 2017 Elsevier B.V. All rights reserved.

  12. Forecasting business cycle with chaotic time series based on neural network with weighted fuzzy membership functions

    International Nuclear Information System (INIS)

    Chai, Soo H.; Lim, Joon S.

    2016-01-01

    This study presents a forecasting model of cyclical fluctuations of the economy based on the time delay coordinate embedding method. The model uses a neuro-fuzzy network called neural network with weighted fuzzy membership functions (NEWFM). The preprocessed time series of the leading composite index using the time delay coordinate embedding method are used as input data to the NEWFM to forecast the business cycle. A comparative study is conducted using other methods based on wavelet transform and Principal Component Analysis for the performance comparison. The forecasting results are tested using a linear regression analysis to compare the approximation of the input data against the target class, gross domestic product (GDP). The chaos based model captures nonlinear dynamics and interactions within the system, which other two models ignore. The test results demonstrated that chaos based method significantly improved the prediction capability, thereby demonstrating superior performance to the other methods.

  13. The timing of pollution abatement investments and the business cycle. An international comparison

    International Nuclear Information System (INIS)

    Bouman, M.; Hofkes, M.W.

    1995-01-01

    A simple equilibrium business-cycle model for an economy with both clean- and dirty-producing plants is developed. The authors derive that the optimal timing of cleaning the production process is during a slowdown of the economy. Due to external effects and market failures the timing of pollution abatement investments is not expected to be optimal in the real world. We test the optimality of the timing of those investments with data for Germany, the Netherlands and the U.S.A. It appears that for more than 25 percent of the sectors pollution abatement investments show counter-cyclical behaviour, while in only one sector these investments are pro-cyclical. 1 tab., 3 appendices, 10 refs

  14. Spillovers between energy and FX markets: The importance of asymmetry, uncertainty and business cycle

    International Nuclear Information System (INIS)

    Khalifa, Ahmed; Caporin, Massimiliano; Hammoudeh, Shawkat

    2015-01-01

    This study constructs a theoretical volatility transmission model for petroleum and FX markets, taking into account major stylized facts and uncertainty measures and the interactions between them under stages of the business cycle. It examines the impacts of those different specifications and economic factors on the spillovers between those considered markets. The results show that the impacts of the “own” shocks (petroleum on petroleum and currency on currency) are statistically significant and positive in almost all cases as expected for the models of natural gas and WTI oil, irrespectively of the currency considered. The asymmetry effect is stronger in the oil than in the natural gas markets. There is stronger and significant evidence that uncertainty affects volatility much more the mean. For the WTI oil, almost all policy and other uncertainty measures lead to an increase in the conditional variance. For currencies, coefficients are commonly significant independent of the presence of petroleum commodities in the bivariate model. The striking result for natural gas is the limited statistical relevance of the economic policy and other uncertainty measures due to the long contracts that characterize this market. Finally, common macroeconomic forces associated with the business cycle can drive these petroleum and currency markets and may cause jumps and co-jumps in the volatility of these markets. The conclusion provides policy implications of the paper’s results. - Highlights: • Examine the impacts of uncertainty measures on energy and currency interaction. • Examine the impacts of asymmetry on energy and currency interactions. • There is stronger asymmetry in oil compared to natural gas. • Uncertainty measures have an impact on volatility dynamics for oil and currencies. • Uncertainty measures do not have an impact on natural gas.

  15. Challenges and solutions for adoption of advanced cycles for power generation in today's business climate

    International Nuclear Information System (INIS)

    Brockway, D.

    2002-01-01

    Total world electricity production is forecast to nearly double over the next 25 years. Dependence on fossil fuels for electricity production will continue to dominate through this period and well into the future. Currently, coal is the fuel for about 30% of total installed power generation capacity and the coal share of the electricity market is expected to remain essentially steady over the 25 year period. Nevertheless, the amount of coal consumed for power generation will increase substantially. It is expected that world coal-fired power production will grow at an average rate of 3% per annum. The forecast demand growth for power generation will require an investment of the order of US$3 trillion with about US$1 trillion in coal-fired power generation. In Australia, coal is the principal fuel for power generation, providing more than 80% of electricity production. Two thirds of electricity generation from coal in Australia relies on high-rank coals (bituminous coals) and one-third on low-rank coals (brown coals and lignite). Coal will remain the principal fuel for electricity generation, in Australia and worldwide, for many decades to come. The relatively low cost of coal in Australia, particularly brown coal in Victoria, provides the nation with an important international competitive advantage - low cost energy for industry, business and domestic consumers. However, projections by the National Electricity Market Management Company Limited (NEMMCO 2001) clearly show a looming critical shortfall in baseload supply within a decade, possibly within five or six years, in the Victorian and South Australian markets. This baseload requirement can only be partly addressed through interstate connections and cannot be met with existing plans for open cycle gas turbine peaking plant. For Australia to continue to benefit from its international competitive advantage from relatively low energy costs, there is a need to install new brown coal fired baseload power generation

  16. State Fiscal Constraints and Higher Education Spending: The Role of Medicaid and the Business Cycle. Discussion Paper.

    Science.gov (United States)

    Kane, Thomas J.; Orszag, Peter R.; Gunter, David L.

    This study used state-level data on expenditures since 1977 to study the forces underlying the shift in state financing of higher education. The focus is on interactions between state appropriations for higher education, other state budget items, especially Medicaid, and the business cycle. The first section documents the substantial decline in…

  17. Evidence on a Real Business Cycle Model with Neutral and Investment-Specific Technology Shocks using Bayesian Model Averaging

    NARCIS (Netherlands)

    R.W. Strachan (Rodney); H.K. van Dijk (Herman)

    2010-01-01

    textabstractThe empirical support for a real business cycle model with two technology shocks is evaluated using a Bayesian model averaging procedure. This procedure makes use of a finite mixture of many models within the class of vector autoregressive (VAR) processes. The linear VAR model is

  18. The effect of business cycle fluctuations on private-label share : What has marketing conduct got to do with it?

    NARCIS (Netherlands)

    Lamey, L.; Deleersnyder, B.; Steenkamp, J.E.B.M.; Dekimpe, M.G.

    2012-01-01

    The authors investigate whether, and to what extent, marketing conduct varies over the business cycle and how this contributes to the growing popularity of private labels. To address this issue, they examine a unique data set that combines a broad set of seven marketing-mix instruments with

  19. The Effects of Oil Price Shocks on Turkish Business Cycle: A Markov Switching Approach

    Directory of Open Access Journals (Sweden)

    Vasif Abiyev

    2015-10-01

    Full Text Available Purpose - The purpose of this study is to investigate the relationship between oil price changes and the output growth in Turkey. Design/methodology/approach - The data were taken from International Financial Statistics databases, consisting of monthly data for the period 1986:01-2014:09. Different univariate Markov - switching regime autoregressive models are specified and estimated. Among them we selected univariate MSIH(3 - AR(2 model for output and extended it to verify if the inclusion of various asymmetric oil price shocks as an exogenous variable improves the ability of the Markov switching model. Four different oil price shocks are considered. Findings - We find that among various oil price shocks, only net oil price increases have negative effects on output growth and mitigate the magnitude of some recessionary periods in Turkey. However, it doesn’t strongly explain the behavior of business cycle in Turkey. Research limitations/implications - Our results suggest that the inclusion of other fundamental financial factors in the bivariate Markov switching model of aggregate economic activity and oil price changes becomes important to explicitly detect the negative impact of oil price shocks on output in Turkey. Originality/value - Our results support the existence of a negative relationship between oil price increases and output growth mentioned in the literature and empirical studies on Turkey.

  20. Improving patient handover between teams using a business improvement model: PDSA cycle.

    Science.gov (United States)

    Luther, Vishal; Hammersley, Daniel; Chekairi, Ahmed

    2014-01-01

    Medical admission units are continuously under pressure to move patients off the unit to outlying medical wards and allow for new admissions. In a typical district general hospital, doctors working in these medical wards reported that, on average, three patients each week arrived from the medical admission unit before any handover was received, and a further two patients arrived without any handover at all. A quality improvement project was therefore conducted using a 'Plan, Do, Study, Act' cycle model for improvement to address this issue. P - Plan: as there was no framework to support doctors with handover, a series of standard handover procedures were designed. D - Do: the procedures were disseminated to all staff, and championed by key stakeholders, including the clinical director and matron of the medical admission unit. S - STUDY: Measurements were repeated 3 months later and showed no change in the primary end points. A - ACT: The post take ward round sheet was redesigned, creating a checkbox for a medical admission unit doctor to document that handover had occurred. Nursing staff were prohibited from moving the patient off the ward until this had been completed. This later evolved into a separate handover sheet. Six months later, a repeat study revealed that only one patient each week was arriving before or without a verbal handover. Using a 'Plan, Do, Study, Act' business improvement tool helped to improve patient care.

  1. Income-related inequalities in diseases and health conditions over the business cycle.

    Science.gov (United States)

    Ásgeirsdóttir, Tinna Laufey; Jóhannsdóttir, Hildur Margrét

    2017-12-01

    How business cycles affect income-related distribution of diseases and health disorders is largely unknown. We examine how the prevalence of thirty diseases and health conditions is distributed across the income spectrum using survey data collected in Iceland in 2007, 2009 and 2012. Thus, we are able to take advantage of the unusually sharp changes in economic conditions in Iceland during the Great Recession initiated in 2008 and the partial recovery that had already taken place by 2012 to analyze how income-related health inequality changed across time periods that can be described as a boom, crisis and recovery. The concentration curve and the concentration index are calculated for each disease, both overall and by gender. In all cases, we find a considerable income-related health inequality favoring higher income individuals, with a slight increase over the study period. Between 2007 and 2009, our results indicate increased inequality for women but decreased inequality for men. Between 2009 and 2012 on the contrary, men's inequality increases but women's decreases. The overarching result is thus that the economic hardship of the crisis temporarily increased female income-related health inequality, but decreased that of men.

  2. MEMBANGUN EARLY WARNING INDICATORS PERGERAKAN KURS DI INDONESIA: PENGEMBANGAN BUSINESS CYCLE ANALYSIS

    Directory of Open Access Journals (Sweden)

    Andra Devi Benazir

    2011-08-01

    Full Text Available The economic crisis in 1997/1998 that was signed by depreciation rupiah almost destroyed the pillars of the economy. This exchange rate shock possibly will happen in the future like that happened in August 2007. At the same time, rupiah falled to the lowest level Rp. 9.410 per dollar (the exchange rate use the last month in August 2007. The exchange rate of its daily until above Rp 9.500 per dollar (Sadewa, 2007. Therefore, it was needed indicator of theearly detection with build leading indicators the movement of the exchange rate in Indonesia. The purpose of this research is building leading indicators the movement of the exchangerate in Indonesia. It could give the capacity forecasting of the Indonesian economy of the movement direction in a manner the aggregate with the Business Cycle Analysis method andIts development. Empirical results showed that is received by four leading indicators and four coincident indicators. The real export, the real import, foreign currency deposit, and forexbanks demand deposits in foreign currency became the moving indicator preceded the exchange rate. Whereas, there are four indicators to coincident was foreign assets, interbank call money rate 1 day, the German share index (DAX, and the USA share index (Nasdaq. This condition indicated that the exchange rate rupiah really was affected by the external factor.

  3. Nonlinear dynamics in a business-cycle model with logistic population growth

    International Nuclear Information System (INIS)

    Brianzoni, Serena; Mammana, Cristiana; Michetti, Elisabetta

    2009-01-01

    We consider a discrete-time growth model of the Solow type where workers and shareholders have different but constant saving rates and the population growth dynamics is described by the logistic equation able to exhibit complicated dynamics. We show conditions for the resulting system having a compact global attractor and we describe its structure. We also perform a mainly numerical analysis using the critical lines method able to describe the strange attractor and the absorbing area, in order to show how cyclical or complex fluctuations may be produced in a business-cycle model. We study the dynamic behaviour of the model under different ranges of the main parameters, i.e. the elasticity of substitution between the two production factors and the one in the logistic equation (namely μ). We prove the existence of complex dynamics when the elasticity of substitution between production factors drops below one (so that capital income declines) or μ increases (so that the amplitude of movements in the population growth rate increases).

  4. Business cycle effects on commercial bank loan portfolio performance in developing economies

    Directory of Open Access Journals (Sweden)

    Jack Glen

    2011-04-01

    Full Text Available This paper studies the effects of business cycles on the performance of commercial bank loan portfolios across major developing economies in the period 1996–2008. We measure loan performance via loan loss provisions (that is, recognized expenses related to expected losses in bank income statements. Our results indicate that while economic growth is the main driver of loan portfolio performance, interest rates have second-order effects. Furthermore, we find the relationship between loan loss provisions and economic growth to be highly non-linear only under extreme economic stress: GDP growth needs to decline by more than 6 percentage points (pp, in absolute terms in order to generate an increase in loan loss provisions equivalent to median emerging market bank profits; while a decline of more than 10 pp in growth implies significant capital losses, of at least 20 percent, for the median emerging market bank. In addition, we find higher loan loss provisions are associated with private sector leverage, poor loan portfolio quality, and lack of banking system penetration and capitalization.

  5. Application of Life Cycle Assessment for Corporate Sustainability : Integrating environmental sustainability in business for value creation

    NARCIS (Netherlands)

    Manda, B.M.K.

    2014-01-01

    The main objective of this research is to make a contribution to bridge the gap between sustainability science and business management by improving the integration of sustainability in core business of corporations. The core business of corporations is to provide products and services to meet

  6. A study on the complexity of a business cycle model with great excitements in non-resonant condition

    International Nuclear Information System (INIS)

    Ma Junhai; Cui Yaqiang; Liulixia

    2009-01-01

    Based on the researches of Szydlowski and Krawiec, we studied the inherent complexity of a chaotic business cycle with great excitements in non-resonant condition. First, we got the first-order and second-order approximate solutions of the system by using multiple scale method. Then deduced the formulation reflecting the complex relations between vibration, phase, bifurcation parameter μ and excite frequency Ω of first-order solution. As the great excitement F varied, the global changes of the system solutions were analyzed. We also explored the different paths leading the systems with different parameter combinations into catastrophe region, fuzzy region or chaos region. Finally, we discussed the evolution trends of business cycle models under the above-mentioned conditions. Hence, this paper has some theoretical and practical significance.

  7. Business cycle and economic-wide energy intensity: The implications for energy conservation policy in Algeria

    International Nuclear Information System (INIS)

    Adom, Philip Kofi

    2015-01-01

    Despite the prevalence of voluntary and involuntary energy conservation policies, developing countries in Africa continue to struggle to achieve energy efficiency targets. Consequently, energy intensity levels have risen threatening the security of the energy system. This raises the important question: is there an economic state that induces agents to be energy conscious? In this study, we study the case of Algeria's energy intensity from 1971 to 2010. First, the paper argues that there is a certain economic state that economic agents find investing in energy conservation a viable option. Any state different from that would mean not investing in energy conservation. Second, the paper argues that the economy can do better even with an infinitesimal reduction in fuel subsidy, and that the gains in revenue from the policy can compensate for the negative socio-economic and equity impacts associated with such a policy. Third, the paper argues that, so long as, industrial expansion in the country move parallel with investment in technological innovation, long-term sustainable growth and energy conservation targets are jointly feasible. Fourth, the paper shows that income elasticity evolves with the business cycle, and the absorptive capability of the host country affects how FDI (foreign direct inflows) impact energy intensity. - Highlights: • Low income states inhibit fuel substitution and investment in energy conservation. • Income elasticity evolves as we pass through boom and recessionary periods. • The goals of sustainable growth and energy conservation are not mutually exclusive. • Absorptive capability affects the impact of FDI on energy intensity

  8. The relationship between macroeconomic and industry-specific business cycle indicators and work-related injuries among Danish construction workers.

    Science.gov (United States)

    Nielsen, Kent Jacob; Lander, F; Lauritsen, J M

    2015-04-01

    The current study examines and compares the relationship between both macroeconomic and industry-specific business cycle indicators, and work-related injuries among construction workers in Denmark using emergency department (ED) injury data and also officially reported injuries to the Danish Working Environment Authority (WEA). The correlations between ED and WEA injury data from the catchment area of Odense University Hospital during the period 1984-2010 were tested separately for variability and trend with two general macroeconomic indicators (gross domestic product and the Danish unemployment rate) and two construction industry-specific indicators (gross value added and the number of employees). The results show that injury rates increase during economic booms and decrease during recessions. However, the regression coefficients were generally weak for both the ED (range 0.14-0.20) and WEA injuries (range 0.13-0.36). Furthermore, although there is some variability in the strength of the relationship of the different business cycle indicators, the relationships are generally not stronger for the WEA injuries than for the ED injuries, except for general unemployment. Similarly, no substantial differences in strength of relation between industry-specific and macroeconomic indicators were identified. The study shows that there was no difference in the relationship between business cycle indicators, and WEA and ED injury data. This indicates that changes in reporting behaviour do not seem to play a major role in the relation between the business cycle and workplace injuries in a Danish context. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  9. Radiation exposure of German aircraft crews under the impact of solar cycle 23 and airline business factors.

    Science.gov (United States)

    Frasch, Gerhard; Kammerer, Lothar; Karofsky, Ralf; Schlosser, Andrea; Stegemann, Ralf

    2014-12-01

    The exposure of German aircraft crews to cosmic radiation varies both with solar activity and operational factors of airline business. Data come from the German central dose registry and cover monthly exposures of up to 37,000 German aircraft crewmembers that were under official monitoring. During the years 2004 to 2009 of solar cycle 23 (i.e., in the decreasing phase of solar activity), the annual doses of German aircraft crews increased by an average of 20%. Decreasing solar activity allows more galactic radiation to reach the atmosphere, increasing high-altitude doses. The rise results mainly from the less effective protection from the solar wind but also from airline business factors. Both cockpit and cabin personnel differ in age-dependent professional and social status. This status determines substantially the annual effective dose: younger cabin personnel and the elder pilots generally receive higher annual doses than their counterparts. They also receive larger increases in their annual dose when the solar activity decreases. The doses under this combined influence of solar activity and airline business factors result in a maximum of exposure for German aircrews for this solar cycle. With the increasing solar activity of the current solar cycle 24, the doses are expected to decrease again.

  10. Evaluation of asset replacement strategies considering economic cycles: lessons from the machinery rental business

    NARCIS (Netherlands)

    Grössler, A.; Bivona, E.; Fuzhuang, L.; Größler, A.

    2015-01-01

    In businesses with heavy capital investments, the effective management of assets is crucial, in particular in the fleet rental business where assets are the major source of revenues. One important question in this regard concerns the replacement of used assets and the purchase of new assets. Thus,

  11. Numerical exploration of Kaldorian interregional macrodynamics: stability and the trade threshold for business cycles under fixed exchange rates.

    Science.gov (United States)

    Asada, Toichiro; Douskos, Christos; Markellos, Panagiotis

    2011-01-01

    The stability of equilibrium and the possibility of generation of business cycles in a discrete interregional Kaldorian macrodynamic model with fixed exchange rates are explored using numerical methods. One of the aims is to illustrate the feasibility and effectiveness of the numerical approach for dynamical systems of moderately high dimensionality and several parameters. The model considered is five-dimensional with four parameters, the speeds of adjustment of the goods markets and the degrees of economic interactions between the regions through trade and capital movement. Using a grid search method for the determination of the region of stability of equilibrium in two-dimensional parameter subspaces, and coefficient criteria for the flip bifurcation - and Hopf bifurcation - curve, we determine the stability region in several parameter ranges and identify Hopf bifurcation curves when they exist. It is found that interregional cycles emerge only for sufficient interregional trade. The relevant threshold is predicted by the model at 14 - 16 % of trade transactions. By contrast, no minimum level of capital mobility exists in a global sense as a requirement for the emergence of interregional cycles; the main conclusion being, therefore, that cycles may occur for very low levels of capital mobility if trade is sufficient. Examples of bifurcation and Lyapunov exponent diagrams illustrating the occurrence of cycles or period doubling, and examples of the development of the occurring cycles, are given. Both supercritical and subcritical bifurcations are found to occur, the latter type indicating coexistence of a point and a cyclical attractor.

  12. Life cycle assessment of hybrid vehicles recycling: Comparison of three business lines of dismantling.

    Science.gov (United States)

    Belboom, Sandra; Lewis, Grégory; Bareel, Pierre-François; Léonard, Angélique

    2016-04-01

    This paper undertakes an environmental evaluation of hybrid vehicles recycling, using industrial data from Comet Traitement SA in Belgium. Three business lines have been modelled and analysed. The first one is relative to the business as usual with a dismantling to recover batteries and engines followed by shredding and post shredding treatments. The second one considers, in addition, the removal of electronic control units (ECU) before shredding followed by same steps than in the first line and the last one is relative to the additional removal of big plastic parts before shredding and business as usual post shredding treatments. Results show non-significant environmental benefits when ECU or large parts of plastics are recovered before shredding. Improvements in terms of environmental benefits are lower than the uncertainty of the results. Indeed, the performing usual process for end-of-life vehicles (ELV) treatment reaches 97% of the ELV which is valorised in terms of metal and energy recoveries. Post shredding treatment units include metals, plastics and energy recovery of residues. Comet business as usual route for ELV valorisation is in accordance with the requirements of the European directive and recommendations for further improvement with dismantling of other parts (ECU or plastics) before shredding are non-relevant in this case. Copyright © 2016 Elsevier Ltd. All rights reserved.

  13. Revisiting valuation practices throughout the business cycle: some symmetry is needed.

    OpenAIRE

    Caruana, J.; Pazarbasioglu, C.

    2008-01-01

    The current crisis exposed weaknesses in the application of accounting standards and gaps associated with the valuation of financial products. During the upturn, the revaluation of assets, build-up of off-balance sheet claims, and booking of unrealised gains obscured risk exposures taken by financial institutions. But as we have learned, when the cycles turn, the downward trends and uncertainties in the value of assets may lead to negative dynamics that may exaggerate the trough of the cycle....

  14. Transitions to Chaos in a Seven-Equation Model of the Business Cycle with Income Redistribution and Private Debt

    Science.gov (United States)

    Colacchio, Giorgio

    In the present paper, we investigate the chaotic implications of a seven-equation model of the business cycle. The main distinguishing features of the model are related to: (a) the role played by the bargaining power in the process of income redistribution; (b) the consideration of hysteresis effects on workers’ consumption demand; (c) the effect of public expenditure on labor productivity. In addition, the role played by the agents’ memory on the actual dynamics of the economic system, with particular regard to their learning-by-doing process, is particularly emphasized. Under all these assumptions, the system exhibits a rich and complex phenomenology, characterized by a number of transitions to chaos (in particular via sequences of period doubling bifurcations), aperiodic behavior, bistability, tristability, etc. We maintain that our analysis takes us another step forward in the building of a more general model of the business cycle. In particular, the model we propose may be of help in the explanation of some peculiar features of advanced capitalist economies, with particular regard to the role played by the State in the determination of agents’ disposable income, to the debt dynamics of the various macroagents, and to the main dilemmas of economic policy. More in general, the main lesson one learns from our investigation is that “disequilibrium paths”, characterized by “complicated” dynamics which, more often than not, takes the form of aperiodic motion, should be considered as the “normal” state of the system.

  15. Is the French fuel cycle management an asset for international business?

    International Nuclear Information System (INIS)

    Beutier, D.; Debes, M.

    2016-01-01

    In order to comfort its energy independence and diminish the amount of radioactive waste, France has chosen to close its fuel cycle since long. Thanks to the size of the fleet of reactors operating in France, reprocessing techniques have been validated on an industrial scale and France is now the only country to master these technologies. The French strategy of closing the fuel cycle allows, first, the vitrification of high-level radioactive wastes and their storing in passive installations before their definitive disposal and secondly, it allows the recycling of fissile materials. Several other countries like Japan, United-Kingdom, the Netherlands and China soon have also chosen to close their fuel cycle. Plutonium recycling is made through the fabrication of MOX (mixed uranium and plutonium oxides) fuel in the MELOX plant with an output of 120 tons a year. A second recycling of spent MOX fuel in PWR is unlikely because of the poor isotopic quality of the plutonium, the recycling will be possible and economically competitive in fast reactors when these 4. generation reactors take over. The important, complete and unique experience of AREVA in terms of fuel cycle from fuel fabrication to waste vitrification via plutonium recycling is a relevant asset in the competitive international nuclear energy market. (A.C.)

  16. Forecasting dynamically asymmetric fluctuations of the U.S. business cycle

    DEFF Research Database (Denmark)

    Chini, Emilio Zanetti

    The Generalized Smooth Transition Auto-Regression (GSTAR) parametrizes the joint asymmetry in the duration and length of cycles in macroeconomic time series by using particular generalizations of the logistic function. The symmetric smooth transition and linear auto-regressions are peculiar cases...

  17. Business cycles and the financial performance of fuel cell companies. Paper no. IGEC-1-074

    International Nuclear Information System (INIS)

    Henriques, I.; Sadorsky, P.

    2005-01-01

    While most business owners are likely to admit that the economic performance of the economy has some impact on their business, there has been relatively little statistical work done to measure just how sensitive the financial performance of fuel cell firms is to changes in macroeconomic activity. In this paper, a four variable vector autoregression model is developed and estimated in order to investigate the empirical relationship between stock prices, oil prices and interest rates. Our results show the stock prices of fuel cell companies to be impacted by shocks to technology stock prices and oil prices. Technology stock price shocks have a longer lasting and greater (in terms of magnitude) impact on the stock prices of fuel cell companies then oil price shocks. These results add to a small but growing literature showing that oil price movements are not as important as once thought because investors view fuel cell companies as similar to other high technology companies. These results should be of use to investors, managers and policy makers. (author)

  18. The business cycle and drug use in Australia: evidence from repeated cross-sections of individual level data.

    Science.gov (United States)

    Chalmers, Jenny; Ritter, Alison

    2011-09-01

    This paper examined the implications of the business cycle for cannabis and alcohol use. What little we know about cannabis use suggests that young Americans (teenagers and adults in their early 20s) seem more inclined to use illicit drugs and to use them more frequently with rises in the unemployment rate. In contrast, a more fulsome alcohol literature suggests that participation in drinking is unaffected by the business cycle. Heavy drinkers drink less during economic downturns and their reduced use counteracts the fact that light drinkers might drink a little more. Using individual level data from repeated cross-sections of Australia's National Drug Strategy Household Survey (NDSHS), spanning 1991-2007, this study examined the relationship between cannabis and alcohol use of Australians aged 14-49 years and the unemployment rate and real income per capita, two indicators of the business cycle. Australians in their late 20s, 30s and 40s drink less frequently during economic downturns. If unemployment rate rises are accompanied by falls in income per capita, younger Australians will also drink less frequently. Recent participation in cannabis use (within the last year) increases with falls in income per capita regardless of age, although the increase is less marked for young people (14-24 years). Whereas the participation rate of people aged 25-49 years also falls with rising unemployment rates, the participation of younger people increases. Cannabis users younger than 35 will use more frequently as the unemployment rate rises. In contrast, older Australians will use less frequently. Australia's recent economic slowdown has been characterised by rising unemployment rates without accompanying falls in income per capita. Based on our findings this slowdown should have encouraged young Australians aged 14-24 years to both drink and use cannabis more frequently. The slowdown would have had little impact on the frequency of drinking of older Australians. However it

  19. Stochastic sensitivity analysis of the variability of dynamics and transition to chaos in the business cycles model

    Science.gov (United States)

    Bashkirtseva, Irina; Ryashko, Lev; Ryazanova, Tatyana

    2018-01-01

    A problem of mathematical modeling of complex stochastic processes in macroeconomics is discussed. For the description of dynamics of income and capital stock, the well-known Kaldor model of business cycles is used as a basic example. The aim of the paper is to give an overview of the variety of stochastic phenomena which occur in Kaldor model forced by additive and parametric random noise. We study a generation of small- and large-amplitude stochastic oscillations, and their mixed-mode intermittency. To analyze these phenomena, we suggest a constructive approach combining the study of the peculiarities of deterministic phase portrait, and stochastic sensitivity of attractors. We show how parametric noise can stabilize the unstable equilibrium and transform dynamics of Kaldor system from order to chaos.

  20. Dynamic Analysis for a Kaldor–Kalecki Model of Business Cycle with Time Delay and Diffusion Effect

    Directory of Open Access Journals (Sweden)

    Wenjie Hu

    2018-01-01

    Full Text Available The dynamics behaviors of Kaldor–Kalecki business cycle model with diffusion effect and time delay under the Neumann boundary conditions are investigated. First the conditions of time-independent and time-dependent stability are investigated. Then, we find that the time delay can give rise to the Hopf bifurcation when the time delay passes a critical value. Moreover, the normal form of Hopf bifurcations is obtained by using the center manifold theorem and normal form theory of the partial differential equation, which can determine the bifurcation direction and the stability of the periodic solutions. Finally, numerical results not only validate the obtained theorems, but also show that the diffusion coefficients play a key role in the spatial pattern. With the diffusion coefficients increasing, different patterns appear.

  1. Designing an ICT tool platform to support SME business model innovation: Results of a first design cycle

    NARCIS (Netherlands)

    de Reuver, G.A.; Athanasopoulou, A.; Haaker, T.I.; Roelfsema, M.; Riedle, M; Breitfuss, G.

    2016-01-01

    Business model innovation (BMI) is becoming increasingly relevant for enterprises as they are faced with profound changes like digitalization. While business model thinking in academia has advanced, practical tooling that supports business model innovation for small and medium sized enterprises

  2. Closing the nuclear fuel cycle in the U.S., economics and business models

    International Nuclear Information System (INIS)

    Ratti, Stefano; Hanson, Alan; Shakir, Sam; Louvet, Thibault

    2007-01-01

    There are different strategies available for managing used nuclear fuel. Some countries recycle used fuel to re-utilize valuable material, while others store used fuel for future disposal in geologic repositories ('once-through' fuel cycle). For the last twenty years, the U.S. has adopted the once-through cycle and has begun the development of a geologic repository for used fuel disposal at Yucca Mountain. Several factors have emerged in the last few years and have started to re-open the debate on what is the appropriate used fuel management strategy in the U.S. Most notably, cost estimates for the development of a geologic repository have escalated and are expected to keep increasing in the near future. At the same time, the U.S. is seeing a renewed interest in nuclear energy and significant nuclear power generation capacity is expected to be added to the current base. Moreover, price of uranium have experience a dramatic rise, as much as a seven-fold increase, in the last two years. Finally, the recycling strategy has proven to be operationally effective in countries other than the U.S. and a solid industrial experience base has accumulated. Recycling as part of a comprehensive nuclear waste management strategy and complementary to an exclusive once-through strategy appear to be a viable option that requires serious consideration. Several questions need to be addressed to determine the viability of recycling in the U.S. What are the underlying economics and how does recycling compare with alternative options? What approach for technology and funding has the highest success rate for such a capital-intensive project? What kind of infrastructure (recycling plant, transportation, process, etc.) is needed? What is the most appropriate development schedule? Several scenarios have been evaluated through economic modeling and analyses of system dynamics. Results indicate that a recycling approach that includes a commercially-developed integrated recycling facility

  3. Being born under adverse economic conditions leads to a higher cardiovascular mortality rate later in life: evidence based on individuals born at different stages of the business cycle

    DEFF Research Database (Denmark)

    van den Berg, Gerard J; Doblhammer-Reiter, Gabriele; Christensen, Kaare

    2011-01-01

    since the 1870s and including the cause of death. To capture exogenous variation of conditions early in life, we use the state of the business cycle around birth. We find significant negative effects of economic conditions around birth on the individual CV mortality rate at higher ages...

  4. REDISCOVERING MISES-HAYEK MONETARY AND BUSINESS CYCLE THEORY IN LIGHT OF THE CURRENT CRISIS: CREDIT EXPANSION AS A SOURCE OF ECONOMIC BOOM AND BUST

    Directory of Open Access Journals (Sweden)

    Marcin Mrowiec

    2013-10-01

    Full Text Available The article starts with a brief description of Mises’ monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is described how Mises’ insights constituted the kernel of Austrian Business Cycle Theory, and how the same observations on the nature of credit constituted the kernel of the Chicago Plan (though Mises’ views on the nature of credit led him to different conculsions than it led the authors of the Chicago Plan, and how this plan is being “rediscovered” now. The following sections deal with observations of one of the preeminent current macroeconomic researches, Mr. Claudio Borio, on the elasticity of credit as the source of the current crisis, and on the importance of the financial cycle in analysing the current economic crisis. The author of this text demonstrates that Austrian Business Cycle Theory gave the same answer regarding the sources of economic crises that now modern macroeconomic theory seems to be approaching, and that the postulates for successful financial cycle modeling are already included in the ABCT. Finally, some observations on the current crisis, as well as proposals of avenues of further research are proposed.

  5. Recent progress in econophysics: Chaos, leverage, and business cycles as revealed by agent-based modeling and human experiments

    Science.gov (United States)

    Xin, Chen; Huang, Ji-Ping

    2017-12-01

    Agent-based modeling and controlled human experiments serve as two fundamental research methods in the field of econophysics. Agent-based modeling has been in development for over 20 years, but how to design virtual agents with high levels of human-like "intelligence" remains a challenge. On the other hand, experimental econophysics is an emerging field; however, there is a lack of experience and paradigms related to the field. Here, we review some of the most recent research results obtained through the use of these two methods concerning financial problems such as chaos, leverage, and business cycles. We also review the principles behind assessments of agents' intelligence levels, and some relevant designs for human experiments. The main theme of this review is to show that by combining theory, agent-based modeling, and controlled human experiments, one can garner more reliable and credible results on account of a better verification of theory; accordingly, this way, a wider range of economic and financial problems and phenomena can be studied.

  6. Recent progress in econophysics: Chaos, leverage,and business cycles as revealed by agent-based modeling and human experiments

    Institute of Scientific and Technical Information of China (English)

    Chen Xin; Ji-Ping Huang

    2017-01-01

    Agent-based modeling and controlled human experiments serve as two fundamental research methods in the field of econophysics.Agent-based modeling has been in development for over 20 years,but how to design virtual agents with high levels of human-like "intelligence" remains a challenge.On the other hand,experimental econophysics is an emerging field;however,there is a lack of experience and paradigms related to the field.Here,we review some of the most recent research results obtained through the use of these two methods concerning financial problems such as chaos,leverage,and business cycles.We also review the principles behind assessments of agents' intelligence levels,and some relevant designs for human experiments.The main theme of this review is to show that by combining theory,agent-based modeling,and controlled human experiments,one can garner more reliable and credible results on account of a better verification of theory;accordingly,this way,a wider range of economic and financial problems and phenomena can be studied.

  7. Oil prices and the U.S. business cycle; Le prix du petrole et la conjoncture economique americaine

    Energy Technology Data Exchange (ETDEWEB)

    Lescaroux, F

    2006-06-15

    The recent surge in oil prices rakes up old fears and the spectre of stagflation hangs over worldwide economic growth's forecasts. After 30 years of research however analysts still disagree about the influence of oil prices on macro-economic variations and the estimations of the consequences of a costlier barrel differ. As to the United States for example, elasticities between real GDP and oil price form a wide spectrum stretching from a value close to -1% to -11,6%. In this context, we try to identify the potential sources of instability in the oil price-macro-economy relationship in order to explain the width of this range. First we draw attention to the distinction between the effects of an upward disequilibrium and of an upturn in the equilibrium in the oil price series. This distinction lets us share the range of published results in two parts: the elasticities of real American GDP with respect to an upward imbalance and with respect to a rise in the equilibrium price would lie approximately in the ranges extending, respectively, from -1% to -5,5% and from -5% to -11,6%. We direct our work towards the analysis of the consequences of short-run variations in the oil prices on the U.S. business cycle. We identify a set of influences which condition the vulnerability of an economy and then construct an econometric sectoral and non-linear model inspired from Marshall's theory. The simulations conducted let us explain the long-run weakening in the oil price-macro-economy relationship and highlight the prominent part played by imported inflation and monetary policy in the crisis of the 70's and 80's. According to the values of the structural factors in the model and to the shape of the oil price short-run disequilibrium, the elasticities evaluated cover the whole range of published elasticities. (author)

  8. Oil prices and the U.S. business cycle; Le prix du petrole et la conjoncture economique americaine

    Energy Technology Data Exchange (ETDEWEB)

    Lescaroux, F

    2006-06-15

    The recent surge in oil prices rakes up old fears and the spectre of stagflation hangs over worldwide economic growth's forecasts. After 30 years of research however analysts still disagree about the influence of oil prices on macro-economic variations and the estimations of the consequences of a costlier barrel differ. As to the United States for example, elasticities between real GDP and oil price form a wide spectrum stretching from a value close to -1% to -11,6%. In this context, we try to identify the potential sources of instability in the oil price-macro-economy relationship in order to explain the width of this range. First we draw attention to the distinction between the effects of an upward disequilibrium and of an upturn in the equilibrium in the oil price series. This distinction lets us share the range of published results in two parts: the elasticities of real American GDP with respect to an upward imbalance and with respect to a rise in the equilibrium price would lie approximately in the ranges extending, respectively, from -1% to -5,5% and from -5% to -11,6%. We direct our work towards the analysis of the consequences of short-run variations in the oil prices on the U.S. business cycle. We identify a set of influences which condition the vulnerability of an economy and then construct an econometric sectoral and non-linear model inspired from Marshall's theory. The simulations conducted let us explain the long-run weakening in the oil price-macro-economy relationship and highlight the prominent part played by imported inflation and monetary policy in the crisis of the 70's and 80's. According to the values of the structural factors in the model and to the shape of the oil price short-run disequilibrium, the elasticities evaluated cover the whole range of published elasticities. (author)

  9. Is Intra-Industry Trade Specialization a Precondition to Business Cycle Synchronization When Joining the Euro Area? The Case of Poland

    Directory of Open Access Journals (Sweden)

    Kawecka-Wyrzykowska Elżbieta

    2017-12-01

    Full Text Available The first objective of this paper is to present theoretical approaches to the impact of trade growth (induced by monetary integration on business cycle synchronization which is an important factor of a country’s readiness for a currency union accession. The main conclusion from the first part of the analysis is that business cycle convergence and the cost of the lack of an autonomous monetary policy depend on intra-industry trade (IIT intensity rather than on general trade growth. The second objective is to assess - using the IIT index as a measure of business cycle synchronization (and of susceptibility to asymmetric shocks transmitted mostly through trade channels - preparedness of the Polish economy to the euro adoption. Calculations reveal that the IIT intensity in Poland is already relatively high (in particular in relations with the euro area members and continues to rise. This confirms the increasing complementarity of Poland’s economy with the economic structures of the euro area partners which reduces the probability of asymmetric shocks.

  10. Trends in Business Investment

    OpenAIRE

    Lydon, Reamonn; Scally, John

    2014-01-01

    This article examines trends in business investment in Ireland. Consistent with the international evidence on investment cycles, we show that business investment in Ireland exhibits large cyclical movements around a long-run trend relative to GDP. Changes in business investment broadly coincide with the overall business cycle, although swings in investment tend to be far greater, with extended periods of both over- and under-investment relative to GDP. The sharp fall in business investment si...

  11. Differences in labour participation between people living with HIV and the general population: Results from Spain along the business cycle.

    Science.gov (United States)

    Peña Longobardo, Luz María; Oliva-Moreno, Juan

    2018-01-01

    HIV/AIDS (Human immunodeficiency virus/Acquired immune deficiency syndrome) not only has a strong impact on the health of the worldwide population but also affects the labour status of HIV-positive people. The primary aim of this paper is to compare the labour participation of people living with HIV (PlwHIV) with the labour participation of the general population along the last business cycle in Spain. The data used are from the Hospital Survey on HIV-AIDS, with a total sample size of 4,651 PlwHIV and the Labour Force Survey from 2001 to 2010, with a total sample size of 660,674 individuals as general population. Propensity Score Matching method was used to analyse the differences between the labour participation of PlwHIV and the general population. Additionally, several specific models categorised into different subgroups (gender, education, source of infection and level of defences) were also performed. We identified a convergence in labour participation across the period in the two populations considered: PlwHIV was 23% less likely to have a job than the general population during 2001-2002 and 14% less likely during 2009-2010. This convergence is mainly explained by two facts: first, the positive evolution of people infected by sex; second, the change in the PlwHIV population composition with a decreasing weight of people infected by drug use throughout the decade. Thereby, at the end of period, there was no statistical difference in the employment rate between PlwHIV infected through sex and the general population but there was strongly difference in PlwHIV infected through drugs. Inmunological status, source of infection and level of education play a relevant role among the PlwHIV population when comparing their labour participation with the general population. In spite of this positive result, the likelihood of being employed in HIV-positive people continues to be different from that of non-carriers. Our study shows that institutional features of labour

  12. How Small Businesses Market Their Products during the Different Phases of the Product Life Cycle: The Case of Swedish Ice Cream Manufacturers

    Directory of Open Access Journals (Sweden)

    Annika Hallberg

    2014-05-01

    Full Text Available The Swedish ice cream market of today is dominated by a few major market leaders, which makes it a challenge for small firms to make themselves visible and survive on a long-term basis. The aim of this article is to investigate and understand how small firms in the ice cream business market their products, based on the marketing mix and the portfolio matrix, during the different phases of the product life cycle. The combination of the two models for strategic planning enables the marketing manager to conduct a more complete analysis of existing products and their place on the market and in the product life cycle. Eight CEOs of small-scale ice cream companies were interviewed. This study found that the marketing activities and strategies of large companies cannot be transferred to and implemented in small-scale businesses. Different marketing theories are developed for big businesses that have many employees and expert knowledge, which small companies do not possess. They also have less resources and knowledge to invest in expensive marketing activities in the marketing mix, and therefore the marketing mix models need to incorporate more of inexpensive marketing.

  13. Improving life-cycle cost management in the US. Army: analysis of the U.S. Army and Commercial Businesses life-cycle cost management.

    OpenAIRE

    White, Bradley A.

    2001-01-01

    The roles and responsibilities of the Army acquisition and logistics communities, as they pertain to the life-cycle management, are undergoing fundamental change. The early identification and total control of life-cycle cost, in particular operations and sustainment costs which comprises as much as 70-80% of a systems total life-cycle cost, is a high priority for the Army. The basis of this change is adoption of commercial best practices to support the Army's goal to organize. tram. equip, an...

  14. How Small Businesses Market Their Products during the Different Phases of the Product Life Cycle: The Case of Swedish Ice Cream Manufacturers

    OpenAIRE

    Annika Hallberg; Susana Friberg; Paulina Myhrman

    2014-01-01

    The Swedish ice cream market of today is dominated by a few major market leaders, which makes it a challenge for small firms to make themselves visible and survive on a long-term basis. The aim of this article is to investigate and understand how small firms in the ice cream business market their products, based on the marketing mix and the portfolio matrix, during the different phases of the product life cycle. The combination of the two models for strategic planning enables t...

  15. Validating the Learning Cycle Models of Business Simulation Games via Student Perceived Gains in Skills and Knowledge

    Science.gov (United States)

    Tao, Yu-Hui; Yeh, C. Rosa; Hung, Kung Chin

    2015-01-01

    Several theoretical models have been constructed to determine the effects of buisness simulation games (BSGs) on learning performance. Although these models agree on the concept of learning-cycle effect, no empirical evidence supports the claim that the use of learning cycle activities with BSGs produces an effect on incremental gains in knowledge…

  16. A nonlinear look at trend MFP growth and the business cycle: result from a hybrid Kalman/Markov switching model

    OpenAIRE

    Mark W. French

    2005-01-01

    The cycle in output and hours worked is not symmetric: it behaves differently around recessions than in expansions. Similarly, the trend in multifactor productivity (MFP) seems to pass through different regimes; there was an extended period of slow MFP growth from about 1973 through 1995, and faster growth thereafter. Typical linear models and linear filters such as the Kalman filter deal poorly with asymmetry and regime changes. This paper attempts to determine more accurately and quickly an...

  17. Being born under adverse economic conditions leads to a higher cardiovascular mortality rate later in life: evidence based on individuals born at different stages of the business cycle.

    Science.gov (United States)

    van den Berg, Gerard J; Doblhammer-Reiter, Gabriele; Christensen, Kaare

    2011-05-01

    We connect the recent medical and economic literatures on the long-run effects of early-life conditions by analyzing the effects of economic conditions on the individual cardiovascular (CV) mortality rate later in life, using individual data records from the Danish Twin Registry covering births since the 1870s and including the cause of death. To capture exogenous variation of conditions early in life, we use the state of the business cycle around birth. We find significant negative effects of economic conditions around birth on the individual CV mortality rate at higher ages. There is no effect on the cancer-specific mortality rate. From variation within and between monozygotic and dizygotic twin pairs born under different conditions, we conclude that the fate of an individual is more strongly determined by genetic and household-environmental factors if early-life conditions are poor. Individual-specific qualities come more to fruition if the starting position in life is better.

  18. The Cut-off Test in the Application of Business Cycle Audit%截止测试在业务循环审计中的应用

    Institute of Scientific and Technical Information of China (English)

    张彤

    2012-01-01

    Accounting staging is the premise of accounting.Accounting periodicity limits the scope of the accounting practice time,for the accrual accounting principle,the matching principle,thus laid a foundation.The theory is based on the evolution of the accounting period,close to check out the business,often hidden misstatement risk,registered accountants often necessary financial statements in the audit schedule deadline test.Judge the same business of lending caused whether both sides in the same accounting period is widely applied in many an accounting statements in the audit items,especially in sales and receipt cycle and production cycle project audit of more typical.%会计分期是会计核算的前提之一。会计分期限定了会计核算的时间范围,为权责发生制、配比原则等会计原则奠定了理论基础。截止的理论来源于会计期间的演进,接近结账日的业务往往隐藏着错报的风险,注册会计师通常有必要在审计财务报表时安排截止日测试。判断同一业务引起的借贷双方是否在同一会计期间入账被广泛应用于许多会计报表项目的审计中,尤其以在销售与收款循环和生产循环等项目的审计中更为典型。

  19. The public health impact of economic fluctuations in a Latin American country: mortality and the business cycle in Colombia in the period 1980-2010.

    Science.gov (United States)

    Arroyave, Ivan; Hessel, Philipp; Burdorf, Alex; Rodriguez-Garcia, Jesus; Cardona, Doris; Avendaño, Mauricio

    2015-05-27

    Studies in high-income countries suggest that mortality is related to economic cycles, but few studies have examined how fluctuations in the economy influence mortality in low- and middle-income countries. We exploit regional variations in gross domestic product per capita (GDPpc) over the period 1980-2010 in Colombia to examine how changes in economic output relate to adult mortality. Data on the number of annual deaths at ages 20 years and older (n = 3,506,600) from mortality registries, disaggregated by age groups, sex and region, were linked to population counts for the period 1980-2010. We used region fixed effect models to examine whether changes in regional GDPpc were associated with changes in mortality. We carried out separate analyses for the periods 1980-1995 and 2000-2010 as well as by sex, distinguishing three age groups: 20-44 (predominantly young working adults), 45-64 (middle aged working adults), and 65+ (senior, predominantly retired individuals). The association between regional economic conditions and mortality varied by period and age groups. From 1980 to 1995, increases in GDPpc were unrelated to mortality at ages 20 to 64, but they were associated with reductions in mortality for senior men. In contrast, from 2000 to 2010, changes in GDPpc were not associated with old age mortality, while an increase in GDPpc was associated with a decline in mortality at ages 20-44 years. Analyses restricted to regions with high registration coverage yielded similar albeit less precise estimates for most sub-groups. The relationship between business cycles and mortality varied by period and age in Colombia. Most notably, mortality shifted from being acyclical to being countercyclical for males aged 20-44, while it shifted from being countercyclical to being acyclical for males aged 65+.

  20. A Synthesis Keynes-Monetarist and Real Business Cycle Model to Inflation and Unemployment in Indonesia 2000.1-2014.4

    Directory of Open Access Journals (Sweden)

    Aris Soelistyo

    2017-06-01

    Full Text Available This research is addressed for the construction of Synthesis between Keynesian, Monetarist and Real Business Cycle Model to the inflation and unemployment Data is used quarterly data 2000.1 - 2014.4, The result of this research with the Keynesian model is the aggregate demand gap has no significance effect to inflation rate and the unemployment rate. But when model of variable input mount the unemployment, exchange rate, wage and the aggregate demand gap of hence yielding elastic inflation elasticity finding of positive of equal to 2,48 to the unemployment rate, and the inflation elasticity to foreign exchange is inelastic positive significance of equal to 0,88. As for the influence of wages to inflation is significantly negative elastic of equal to – 1,89. Besides, in model is also shown by condition of significance of influence of variable of aggregate demand gap to inflation of equal to 0.31. Meanwhile, Inflation in perspective monetarist viewed as by a monetary phenomenon, where the inflation influenced by money supply of equal to 1.858. Besides, Monetarist also express of relation significance of between GDP summed ugly is money supply is inelastic positive significance of equal to 0.1247. The RBC Model shows that the investment elasticity to output is significance inelastic positive equal to 0.405467, that way also with the influence of the population to GDP is significance negative equal to - 1.259925 . The other side, is founded by of Unemployment elasticity to wage rate is significance positive of equal to 0.413. Meanwhile, with the model of synthesis Keynes-Monetarist and RBC lay open that output (GDP is influenced by the positive significance of equal to 0.206026 . The synthesis model is also expressed by that governmental fiscal governmental expenditure as a means of shows influence which significant to unemployment equal to 0.149. While component amount of money supply, affecting negativity significance to unemployment of equal to

  1. Business Ethics

    OpenAIRE

    Duong, Thi

    2016-01-01

    The goal of this paper is to present examples of business ethics issues. What is business ethics, things concerned in this field are and why it is needed and important when doing business? The concept of business ethics has connotations to provision, rules and standards in directing the behavior of actors in the business. Business ethics involves compliance with the law, the implementation of ethical responsibilities of a business, the protection of the rights of those who are related to the ...

  2. Mediating Business

    DEFF Research Database (Denmark)

    "Mediating Business" is a study of the expansion of business journalism. Building on evidence from Denmark, Finland, Norway and Sweden, "Mediating Business" is a comparative and multidisciplinary study of one of the major transformations of the mass media and the realm of business - nationally...... and globally. The book explores the history of key innovations and innovators in the business press. It analyzes changes in the discourse of business journalism associated with the growth in business news and the development of new ways of framing business issues and events. Finally, it examines...... the organizational implications of the increased media visibility of business and, in particular, the development of corporate governance and media relations....

  3. Doing Business Economy Profile 2012 : Uruguay

    OpenAIRE

    World Bank; International Finance Corporation

    2012-01-01

    Doing business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protec...

  4. Doing Business Economy Profile 2013 : Uruguay

    OpenAIRE

    World Bank; International Finance Corporation

    2012-01-01

    This tenth edition of Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting eleven areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering proper...

  5. Issues to Consider before Licensing Technology to a Start-Up: Mitigating Risk with Early Planning for the Entire Business Cycle

    Science.gov (United States)

    LaBarge, Jeffrey H.

    2005-01-01

    If done correctly, licensing technology to a start-up company provides a great opportunity for a university to commercialize its technology and generate good will. If done incorrectly, however, the venture may jeopardize the technology's value and adversely affect the university's reputation within the business and academic communities. Before…

  6. Family Business and Careers: Classic and Contemporary Issues.

    Science.gov (United States)

    Lucaccini, Luigi F.; Muscat, Eugene J.

    2001-01-01

    Presents models and life-cycle stages of family businesses and issues that have an impact on family business careers. Addresses the roles of career counselors and human resource professionals in supporting family businesses. (SK)

  7. Transportation Business Plan

    International Nuclear Information System (INIS)

    1986-01-01

    The Transportation Business Plan is a step in the process of procuring the transportation system. It sets the context for business strategy decisions by providing pertinent background information, describing the legislation and policies governing transportation under the NWPA, and describing requirements of the transportation system. Included in the document are strategies for procuring shipping casks and transportation support services. In the spirit of the NWPA directive to utilize the private sector to the maximum extent possible, opportunities for business ventures are obvious throughout the system development cycle

  8. Impact of the business environment on the conditions for starting business in Republic of Macedonia

    OpenAIRE

    Serafimova, Mimoza

    2017-01-01

    This paper analyzes how easy or difficult is for local entrepreneur to open and run business with small and medium-sized enterprises when it meets the relevant legislation. From the changes in the regulations that influence the life cycle of the business, we will set the perspective for starting a business. This paper will consider the business environment in terms of starting a business. The paper presents data on the indicators for quantitative indicators for business regulations and the pr...

  9. Business opportunities

    Science.gov (United States)

    Los Alamos National Laboratory Search Site submit About Mission Business Newsroom Publications Los : Environmental Documents, Reports LANL Home Calendar Search Contacts Business » Short- and long-term opportunities Business opportunities Setting new standards and developing small business initiatives within NNSA

  10. E Business

    OpenAIRE

    Temjanovski, Riste

    2012-01-01

    In contemporary economic science study of е-business becomes necessary and imperative in contemporary work. The purpose of the program is available in a clear and acceptable way to meet the needs, models, application and protection of electronic business. Here are the basic models of electronic commerce, electronic banking, e-business infrastructure and so on. Electronic business or short e-business aims to expand the powers of an organizational unit in the development of innovative inform...

  11. Playful Business

    DEFF Research Database (Denmark)

    Lund, Morten; Hansen, Poul H. Kyvsgård; Nielsen, Louise Møller

    2011-01-01

    ” The term business model can be defined as a business concept that has been put into practice. The increase in dynamics in markets, technology, economies etc. challenge the requirements to make consistent and synchronized decisions on which business models to develop and implement. Complexity...... efficiently. This paper describes initial experiences of facilitating business model mapping or business model innovation by game-like setups.”...

  12. BUSINESS ETHICS ON BUSINESS

    OpenAIRE

    Çetin Bektaş

    2016-01-01

    Certain rules are established in order to temper the behaviours, rights and responsibilities of individuals who constitute the society and every individual has to respect those rules. The right of every individual to live makes it necessary to limit their behaviour. Activities in business life has become complicated with the industrialisation and violation of rights appear occasionally. Alongside the law, it is possible to prevent these violations by addressing the conscience and morality ...

  13. Methodological approaches based on business rules

    OpenAIRE

    Anca Ioana ANDREESCU; Adina UTA

    2008-01-01

    Business rules and business processes are essential artifacts in defining the requirements of a software system. Business processes capture business behavior, while rules connect processes and thus control processes and business behavior. Traditionally, rules are scattered inside application code. This approach makes it very difficult to change rules and shorten the life cycle of the software system. Because rules change more quickly than the application itself, it is desirable to externalize...

  14. Doing Business Regional Profile 2016 : Organization for the Harmonization of Business Law in Africa

    OpenAIRE

    World Bank Group

    2016-01-01

    Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protec...

  15. Doing Business Regional Profile 2012 : Organization for the Harmonization of Business Law in Africa

    OpenAIRE

    World Bank; International Finance Corporation

    2012-01-01

    Doing business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protec...

  16. Business continuity

    International Nuclear Information System (INIS)

    Breunhoelder, Gert

    2002-01-01

    This presentation deals with the following keypoints: Information Technology (IT) Business Continuity and Recovery essential for any business; lessons learned after Sept. 11 event; Detailed planning, redundancy and testing being the key elements for probability estimation of disasters

  17. Business Center

    Science.gov (United States)

    Learn how to do business with EPA's Clean Air Markets, including registering to use the Emissions Collection and Monitoring Plan System (ECMPS), the CAMD Business System (CBS), and learn how to submit monitored emissions data.

  18. Progressive Business

    DEFF Research Database (Denmark)

    Christiansen, Christian O.

    2016-01-01

    Guest Post to the Society for U.S. Intellectual History Blog. Brief introduction to the book Progressive Business: An Intellectual History of the Role of Business in American Society, Oxford U.P., 2015.......Guest Post to the Society for U.S. Intellectual History Blog. Brief introduction to the book Progressive Business: An Intellectual History of the Role of Business in American Society, Oxford U.P., 2015....

  19. Business plan

    OpenAIRE

    Dorożyński, Tomasz; Urbaniak, Wojciech

    2016-01-01

    Running a business on an international scale requires not only a substantial body of knowledge but also the ability to apply it in practice. That is why our textbook, with a vast collection of practical examples, discusses a wide variety of pertinent issues connected with business operations in international markets, from international market analysis, drafting business plans, concluding business transactions and the insurance of goods through to customs clearance procedures and professional ...

  20. BUSINESS ETHICS

    OpenAIRE

    Nelu BURCEA; Ion CROITORU

    2014-01-01

    Through this study we seek to explore the concept of business ethics, in those aspects that we consider to be essential and concrete. We started from a few questions: Could the two concepts be compatible? If not, why not? If yes, could they be complementary? How real is the use of ethics in the profits of a business? How can be business ethics be exemplified and what principles are essential in doing business? How does the business environment react to the concept? These are some of the eleme...

  1. Business model for business rules

    NARCIS (Netherlands)

    Eline Haan; Martin Zoet; Koen Smit

    2014-01-01

    Business rule models are widely applied, standalone and embedded in smart objects. They have become segregated from information technology and they are now a valuable asset in their own right. As more business rule models are becoming assets, business models to monetize these assets are designed.

  2. Business support within business incubators.

    NARCIS (Netherlands)

    Ratinho, Tiago; Harms, Rainer; Groen, Arend J.

    2009-01-01

    Business incubators (BI) have been established worldwide as tools for company creation and small businesses support. BIs claim to help their tenants by providing them with the optimal conditions for increasing early stage survival. Practitioners and researchers agree that business support is a

  3. A core ontology for business process analysis

    NARCIS (Netherlands)

    Pedrinaci, C.; Domingue, J.; Alves De Medeiros, A.K.; Bechhofer, S.; Hauswirth, M.; Hoffmann, J.; Koubarakis, M.

    2008-01-01

    Business Process Management (BPM) aims at supporting the whole life-cycle necessary to deploy and maintain business processes in organisations. An important step of the BPM life-cycle is the analysis of the processes deployed in companies. However, the degree of automation currently achieved cannot

  4. Feeding the nuclear fuel cycle with a long term view; AREVA's front-end business units, uranium mining, UF6 conversion and isotopic enrichment

    International Nuclear Information System (INIS)

    Capus, G.A.P.; Autegert, R.

    2005-01-01

    As a leading provider of technological solutions for nuclear power generation and electricity transmission, the AREVA group has the unique capability of offering a fully integrated fuel supply, when requested by its customers. At the core of the AREVA group, COGEMA Front End Division is an essential part of the overall fuel supply chain. Composed of three Business Units and gathering several subsidiaries and joint 'ventures, this division enjoys several leading positions as shown by its market shares and historical production records. Current Uranium market evolutions put the natural uranium supply under focus. The uranium conversion segment also recently revealed some concerning evolutions. And no doubt, the market pressure will soon be directed also at the enrichment segment. Looking towards the long term, AREVA strongly believes that a nuclear power renewal is needed, especially to help limiting green house effect gas release. Therefore, to address future supplies needed to fuel the existing fleet of nuclear power plants, but also new ones, the AREVA group is planning very significant investments to build new facilities in all the three front-end market segments. As far as uranium mining is concerned, these new mines will be based upon uranium reserves of outstanding quality. As for uranium conversion and enrichment, two large projects will be based on the most advanced technologies. This paper is aimed at recalling COGEMA Front End Division experience, the current status of its plants and operating entities and will provide a detailed overview of its major projects. (authors)

  5. Integrated corporate structure life cycle management modeling and organization

    OpenAIRE

    Naumenko, M.; Morozova, L.

    2011-01-01

    Integrated business structure presented as complementary pool of its participants skills. The methodical approach to integrated business structure life cycle modeling proposed. Recommendations of enterprises life cycles stages correlate are submitted.

  6. BUSINESS ETHICS

    Directory of Open Access Journals (Sweden)

    Nelu BURCEA

    2014-12-01

    Full Text Available Through this study we seek to explore the concept of business ethics, in those aspects that we consider to be essential and concrete. We started from a few questions: Could the two concepts be compatible? If not, why not? If yes, could they be complementary? How real is the use of ethics in the profits of a business? How can be business ethics be exemplified and what principles are essential in doing business? How does the business environment react to the concept? These are some of the elements that will form the basis of this scientific study. Lately, business ethics has been becoming an increasingly popular topic. Set against the global economic crisis, the companies’ credibility could become a major concern. Business ethics also becomes a challenge for training and informing employees and employers, in order to make not only economical, but also ethical decisions regarding their profits. In the study we shall also address the ethical standards required in a business world interested in fundamental values that can make the difference in 21st century business. Also, according to a study conducted by the authors, we shall address the two most important ethical values that prove to be essential to a business.

  7. Business model dynamics: a case survey

    OpenAIRE

    de Reuver, Mark; Bouwman, Harry; Maclnnes, Ian

    2009-01-01

    In the turbulent world of e-commerce, companies can only survive by continuously reinventing their business models. However, because most studies look at business models as snapshots in time, there is little insight into how changing market-related, technological and regulatory conditions generally drive revisions in business models. In this paper, we examine which types of external drivers are strongest in forcing business models to change throughout their life cycle. To do so, we study 45 l...

  8. Disrupting Business

    DEFF Research Database (Denmark)

    Cox, Geoff; Bazzichelli, Tatiana

    Disruptive Business explores some of the interconnections between art, activism and the business concept of disruptive innovation. With a backdrop of the crisis of financial capitalism, austerity cuts in the cultural sphere, the idea is to focus on potential art strategies in relation to a broken...... economy. In a perverse way, we ask whether this presents new opportunities for cultural producers to achieve more autonomy over their production process. If it is indeed possible, or desirable, what alternative business models emerge? The book is concerned broadly with business as material for reinvention...

  9. Business Opportunities

    Science.gov (United States)

    Employment and Payroll Survey of Business Owners Work from Home Our statistics highlight trends in household statistics from multiple surveys. Data Tools & Apps Main American FactFinder Census Business Builder My Classification Codes (i.e., NAICS) Economic Census Economic Indicators Economic Studies Industry Statistics

  10. Business Writing.

    Science.gov (United States)

    Burt, Lorna; Lewandowski, Carol

    This workbook, designed for workplace literacy courses, contains materials for a business writing course. The course presents the fundamentals of effective business letter writing, focusing on logical organization, word choice, style, tone, and clarity. The course uses students' own examples as well as practice exercises for reinforcement.…

  11. Business aspect

    NARCIS (Netherlands)

    Mehandjiev, N.; Grefen, P.W.P.J.; Fessl, K.; Bittner, W.; Ristol, S.; Mehandjiev, N.; Grefen, P.W.P.J.

    2010-01-01

    This chapter discusses the business requirements of technology to be developed in support of VEs. It first describes new business directions that have come into existence in the manufacturing industry like the automotive domain. Next, it treats new criteria that have to be met by industries to

  12. Methodological approaches based on business rules

    Directory of Open Access Journals (Sweden)

    Anca Ioana ANDREESCU

    2008-01-01

    Full Text Available Business rules and business processes are essential artifacts in defining the requirements of a software system. Business processes capture business behavior, while rules connect processes and thus control processes and business behavior. Traditionally, rules are scattered inside application code. This approach makes it very difficult to change rules and shorten the life cycle of the software system. Because rules change more quickly than the application itself, it is desirable to externalize the rules and move them outside the application. This paper analyzes and evaluates three well-known business rules approaches. It also outlines some critical factors that have to be taken into account in the decision to introduce business rules facilities in a software system. Based on the concept of explicit manipulation of business rules in a software system, the need for a general approach based on business rules is discussed.

  13. BUSINESS-TO-BUSINESS CORRUPTION

    Directory of Open Access Journals (Sweden)

    Natasha Georgieva Hadzi Krsteski

    2016-04-01

    Full Text Available The business corruption is established and active in the circle of the businesses partners that express a gratitude, return a service or bribes (apart from ordinary price for a business transfer to be provided. Those prohibited transfers differs from the usual business transfers, such as activities related to marketing and public relations where they have a specific goal to use illegal means in order to infringe the recipients` identity of prohibited value in an interchange for a inducement. That is a procedure of enticement, which prevents the useful instruments in the permitted bazaar and not solitary that it is harmful for the businesses whose representatives accept bribe, however it is also harmful for the civilisation as an entire. The occurrence of business corruption is intended as a amount of companies that presented cash, a gratitude or a service in return, in adding to every usual deal of any person who is working for a business entity from the private sector in any capacity, including the one through a mediator, happening to at minimum single juncture in the past 12 months previous to this research. The usual commonness of the business-to-corruption in the Republic of Macedonia is 3% compared to 4% at a regional level. While it is fewer than the regular pervasiveness of salaried briberies by enterprises to civic bureaucrats, this discovery designates that bribery in the secluded segment is a difficult in the Republic of Macedonia.

  14. Business Law

    DEFF Research Database (Denmark)

    Föh, Kennet Fischer; Mandøe, Lene; Tinten, Bjarke

    Business Law is a translation of the 2nd edition of Erhvervsjura - videregående uddannelser. It is an educational textbook for the subject of business law. The textbook covers all important topic?s within business law such as the Legal System, Private International Law, Insolvency Law, Contract law......, Instruments of debt and other claims, Sale of Goods and real estate, Charges, mortgages and pledges, Guarantees, Credit agreements, Tort Law, Product liability and Insurance, Company law, Market law, Labour Law, Family Law and Law of Inheritance....

  15. Life cycle management in product development

    DEFF Research Database (Denmark)

    Skelton, Kristen; Pattis, Anna

    2013-01-01

    The integration of Life Cycle Thinking (LCT) and Life Cycle Management (LCM) into business operations poses great challenges, as it requires a wider range of environmental responsibility often extending beyond a company's immediate control. Simultaneously, it offers many opportunities...

  16. Teaching Small Business Management in the UK Part I.

    Science.gov (United States)

    Birley, Sue; Gibb, Allan

    1984-01-01

    Reviews the key factors influencing small business management education in the United Kingdom, particularly government policies encouraging small business development. Postulates a model based on the career cycle and considers training opportunities for various stages. (SK)

  17. Environmental Business

    International Nuclear Information System (INIS)

    1992-02-01

    This book introduces business strategy to save the earth, which are foundation of system in the company, collection of disposable camera, resort which don't destroy environment, core strategy of item project, cutback of Freon gas, production of plastic which is degraded, export of pollution prevention technology, increasing waste and changing waste, rule on construction waste, responsibility of business and waste problems, recycling of aluminum can and responsibility on environmental problems.

  18. BUSINESS INTELLIGENCE

    OpenAIRE

    Bogdan Mohor Dumitrita

    2011-01-01

    The purpose of this work is to present business intelligence systems. These systems can be extremely complex and important in modern market competition. Its effectiveness also reflects in price, so we have to exlore their financial potential before investment. The systems have 20 years long history and during that time many of such tools have been developed, but they are rarely still in use. Business intelligence system consists of three main areas: Data Warehouse, ETL tools and tools f...

  19. Research on the Evolution of Internet Enterprise Business Model in its Life Cycle --A Case Study of Tencent%互联网企业发展过程中商业模式的演变——基于腾讯的案例研究

    Institute of Scientific and Technical Information of China (English)

    罗小鹏; 刘莉

    2012-01-01

    互联网企业的商业模式具有较强的可塑性,企业应在发展过程中根据内外部环境的变化对商业模式进行创新。本文运用商业模式“3—4~8”理论,以腾讯公司为目标企业,对该公司在生命周期三个阶段的商业模式创新及演变进行案例研究。研究表明,腾讯在创业期、成长期和成熟期不同发展阶段,商业模式表现出独特的演变路径和鲜明的特征,商业模式的创新提升了公司的价值和竞争力,其成功经验为我国互联网企业提供了启示与借鉴。%Internet enterprise business model has strong plasticity, entrepreneurs should innovate the business model according to the change of internal and external environment. Business model is an architectural structure that organization position and integrate its value, strategy and operation system into a organic integrity, and through offering a series of products or services to realize its goal. By reviewing the papers, we can find that related research of business model is in the ascendant in recent 10 years. In the thesis, We adopted case study method, based on 3 -4 -8 business model theory, chose a iconic internet company Tencent Holding Co. Ltd( short for Tencent) as the object. From the enterprise life cycle perspective, We explored the innovation of Tencent's business model, induction conditions, characteristic, and the evolution path in different period. Concluded innovation type of business model, and summarized the inspirations that internet enterprises should follow when innovating their business model. Our research was carried out by three steps: Firstly, we reviewed the existing theories at home and abroad, summarize the definition of business model, and presented my definition. Then, used"3 -4 -8" business model architectural structures for reference, followed the modular deconstruction thinking, investigated and executed data analysis on 23 modular indexes. On the basis

  20. AREVA Business and Strategy overview April, 2010

    International Nuclear Information System (INIS)

    2010-01-01

    This document is a series of slides presenting AREVA's activities in the framework of CO 2 -free power generation: 2005-2009 Group Performance; 2010-2012 Development Plan (Build 1/3 of the new nuclear generating capacity, Secure the fuel cycle for current and future customers, Expand renewable energies offering, Ensure strong profitable growth in the T and D Division); Performances and objectives by division (Front-End, Mines and Enrichment, Reactors and Service, renewable energies, Back-End); latest key financial results; Appendices (Financial, Nuclear power, Mining business details, Conversion/Enrichment/Fuel business details, Reactors and Services business details, Back-End business details, Renewable business details)

  1. Operational and real-time Business Intelligence

    Directory of Open Access Journals (Sweden)

    Daniela Ioana SANDU

    2008-01-01

    Full Text Available A key component of a company’s IT framework is a business intelligence (BI system. BI enables business users to report on, analyze and optimize business operations to reduce costs and increase revenues. Organizations use BI for strategic and tactical decision making where the decision-making cycle may span a time period of several weeks (e.g., campaign management or months (e.g., improving customer satisfaction.Competitive pressures coming from a very dynamic business environment are forcing companies to react faster to changing business conditions and customer requirements. As a result, there is now a need to use BI to help drive and optimize business operations on a daily basis, and, in some cases, even for intraday decision making. This type of BI is usually called operational business intelligence and real-time business intelligence.

  2. Business model reconfiguration in green construction: A theoretical perspective

    OpenAIRE

    Abuzeinab, Amal; Arif, Mohammed

    2013-01-01

    PhD study Business models describe the business logic of a particular company and green business model is when a company changes part(s) of its business model and thereby both captures economic value and reduces the ecological footprint in a life-cycle perspective. In this paper, business model literature is reviewed with the intention of promoting learning to understand the economic complexity of environmental sustainability in the construction context. Although the green construction lit...

  3. Green Technology Adoption and the Business Cycle

    OpenAIRE

    Bourgeon , Jean-Marc; Hovsepian , Margot

    2018-01-01

    We analyze the adoption of green technology in a dynamic economy affected by random shocks where demand spillovers are the main driver of technological improvements. Firms’ beliefs and consumers’ anticipations drive the path of the economy. We derive the optimal policy of investment subsidy and the expected time and likelihood of reaching a targeted level of environmental quality under economic uncertainty. This allows us to estimate the value that should be given to the environment in order ...

  4. Hiring, Churn, and the Business Cycle

    OpenAIRE

    Edward P. Lazear; James R. Spletzer

    2012-01-01

    Churn, defined as replacing departing workers with new ones as workers move to more productive uses, is an important feature of labor dynamics. The majority of hiring and separation reflects churn rather than hiring for expansion or separation for contraction. Using the JOLTS data, we show that churn decreased significantly during the most recent recession with almost four-fifths of the decline in hiring reflecting decreases in churn. Reductions in churn have costs because they reflect a redu...

  5. Modelling asymmetric persistence over the business cycle

    NARCIS (Netherlands)

    Ph.H.B.F. Franses (Philip Hans); R. Paap (Richard)

    1998-01-01

    textabstractWe address the issue of time varying persistence of shocks to macroeconomic time series variables by proposing a new and parsimonious time series model. Our model assumes that this time varying persistence depends on a linear combination of lagged explanatory variables, where this

  6. Measuring Agency Costs over the Business Cycle

    DEFF Research Database (Denmark)

    Westermann, Ramona

    2017-01-01

    This paper investigates the joint effects of manager–shareholder agency conflicts and macroeconomic risk on corporate policies and firm value. I first derive the implications of a structural model of a firm with assets in place and an investment opportunity, run by a self-interested manager who c...

  7. Business Cycles and Postsecondary School Enrollment

    Science.gov (United States)

    Samitamana, Ravi

    2009-01-01

    Human capital theory suggests that the opportunity cost is lower during an economic recession which in turn encourages a person to enroll in a postsecondary educational institution. At the same time, the ability to pay the direct costs of education is reduced. The two effects work in an opposite direction. Using unemployment rates as a business…

  8. The business cycle and health behaviors.

    Science.gov (United States)

    Xu, Xin

    2013-01-01

    While it is well documented that economic expansions provide widespread and immediate financial benefits, the evidence on how an economic downturn affects individual's health behaviors is surprisingly mixed. In this paper, we take a structural approach to investigate the effects of wages and working hours on health behaviors of low-educated persons using variations in wages and hours caused by changes in local economic activity. In the empirical analysis, we adopt a two-sample instrumental variables approach to combine the data on individual health behaviors from the Behavioral Risk Factor Surveillance System (BRFSS) and the National Health Interview Survey (NHIS) with the data on individual employment from the Current Population Survey (CPS). The total sample size of the combined CPS-BRFSS data for the time period of 1984-2005 is 967,594, while that of the combined CPS-NHIS data for the time period of 1976-2001 is 364,078. We find that increases in wages caused by economic expansions are associated with greater consumption of cigarettes in the United States. We also find that increases in hours of work caused by economic expansions are associated with more cigarette consumption, but less physical activity and physician visits. More importantly, the evidence suggests that most of such effects associated with changes in hours of work can be attributed to the changes at the extensive margin of employment, meaning the changes in employment status, rather than the changes at the intensive margin, meaning changes in hours of work conditional on being employed. These findings imply that changes in employment may have heterogeneous impacts on time-intensive and less time-intensive health behaviors and also provide additional evidence on the importance of time in health production, particularly for time-intensive activities. Copyright © 2012 Elsevier Ltd. All rights reserved.

  9. The Community College and the Business Cycle

    Science.gov (United States)

    Romano, Richard M.; Palmer, James C.

    2016-01-01

    Swings in enrollment and funding caused by the most recent recession have reminded community college leaders that the ups and downs of the economy can have a significant impact on their institutions. While the impact on enrollment and funding is well documented, lesser known impacts can be also be found on things such as student persistence,…

  10. Financing Asset Sales and Business Cycles

    OpenAIRE

    Arnold, Marc; Hackbarth, Dirk; Puhan, Tatjana-Xenia

    2013-01-01

    This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional motives for selling assets, such as financial distress or financing constraints. Using a structural model of financing, investment, and macroeconomic risk, we show that financing asset sales attenuate the debt overhang problem...

  11. Efficiency Wages and the Business Cycle

    NARCIS (Netherlands)

    Canton, E.J.F.

    1995-01-01

    This paper presents a simple efficiency wage model to explain the transmission from exogenous productivity shocks to levels of economic activity. Higher real wages and rising unemployment induce workers to increase their effort. The disciplining effect of unemployment on the effort level has an

  12. Draft Transportaion Business Plan

    International Nuclear Information System (INIS)

    1985-08-01

    The Office of Civilian Radioactive Waste Management (OCRWM) is responsible for establishing a transportation system to support shipment of spent fuel and high-level radioactive waste to repositories and storage facilities developed under the Nuclear Waste Policy Act of 1982 (NWPA). An element that assists in fulfilling that responsibility is a business plan for acquiring and operating a transportation system. The Draft Transportation Business Plan is an interim step in the process of procuring the transportation system. It sets the context for business strategy decisions by providing pertinent background information, describing the legislation and policies governing transportation under the NWPA, and with establishing the transportation system. It also serves as an instrument for initiating communication between OCRWM and other interested parties. Included in the docuument are strategies for procuring shipping casks and transportation support services. Additionally, in the spirit of the NWPA directive to utilize the private sector to the maximum extent possible, opportunities for business ventures are obvious throughout the system development cycle

  13. Business Anthropology

    DEFF Research Database (Denmark)

    Moeran, Brian

    2015-01-01

    Relations School at Harvard University), as well as in the United Kingdom and elsewhere, before turning to five areas of research and practice: academic ethnographies of business practices, regional studies, case studies developed by practitioners, theoretical applications, and methods. The essay then asks......; cross-cultural comparison of work cultures; attention to the materials, technologies, and goods with which business people engage and which afford their organizational forms; and explicit attention to cutting-edge fieldwork methods.......This essay outlines the overall scope and location of business anthropology within the overall field of the discipline. It outlines its foundations as an applied form of anthropology in early developments in the United States (in particular, in Western Electric’s Hawthorne Project and the Human...

  14. A business case method for business models

    OpenAIRE

    Meertens, Lucas Onno; Starreveld, E.; Iacob, Maria Eugenia; Nieuwenhuis, Lambertus Johannes Maria; Shishkov, Boris

    2013-01-01

    Intuitively, business cases and business models are closely connected. However, a thorough literature review revealed no research on the combination of them. Besides that, little is written on the evaluation of business models at all. This makes it difficult to compare different business model alternatives and choose the best one. In this article, we develop a business case method to objectively compare business models. It is an eight-step method, starting with business drivers and ending wit...

  15. BUSINESS CYCLES, ELECTORAL CYCLES. TOWARD A THEORETICAL FRAME OF INTERACTION

    OpenAIRE

    BOGDAN-LUCIAN DOSPINESCU

    2015-01-01

    The idea of cyclical movement of a system: be it political, economic, institutional, is one of the constants of critical thinking. In this sense, there is a natural cyclic movement that cannot be avoided (only amplified or diminished) and is connected with the nature of these systems. The economy follows a cyclical movement; a period of growth follows a period of decline, and so on. So does popularity for political parties or leaders. In this paper, I explore the links between the...

  16. The Elements of Business Process Change

    African Journals Online (AJOL)

    user

    magnitude of the BPC effort, and its interruption to operations. Based on ... innovation, business process redesign and business process management ..... Table 5. Organization performance ( Organizational outcome and Impact). Mean SD. 1. Increased operational efficiency(decreased cycle time, inventory). 2.3 .97. 2.

  17. Business History

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2012-01-01

    This article argues that a cultural and narrative perspective can enrich the business history field, encourage new and different questions and answers, and provide new ways of thinking about methods and empirical material. It discusses what culture is and how it relates to narratives. Taking...

  18. Business Law

    OpenAIRE

    Marson, James; Ferris, Katy

    2016-01-01

    Marson & Ferris provide a thorough account of the subject for students. Essential topics are introduced by exploring current and pertinent examples and the relevance of the law in a business environment is considered throughout. This pack includes a supplement which considers the effects of the Consumer Rights Act 2015.

  19. Business Leksikon

    DEFF Research Database (Denmark)

    Nielsen, Sandro

    2002-01-01

    This review article deals with a specialised dictionary recently introduced to the Danish market. It covers traditional business subjects and is designed for semi-experts and laypeople. Through Danish definitions and English, French and German equivalents, it aims at fulfilling the functions text...

  20. Business Intelligence

    OpenAIRE

    Petersen, Anders

    2001-01-01

    Cílem této bakalářské práce je seznámení s Business Intelligence a zpracování vývojového trendu, který ovlivňuje podobu řešení Business Intelligence v podniku ? Business Activity Monitoring. Pro zpracování tohoto tématu byla použita metoda studia odborných pramenů, a to jak v českém, tak v anglickém jazyce. Hlavním přínosem práce je ucelený, v českém jazyce zpracovaný materiál pojednávající o Business Activity Monitoring. Práce je rozdělena do šesti hlavních kapitol. Prvních pět je věnováno p...

  1. Small Business Development Center

    Data.gov (United States)

    Small Business Administration — Small Business Development Centers (SBDCs) provide assistance to small businesses and aspiring entrepreneurs throughout the United States and its territories. SBDCs...

  2. Small Business Size Standards

    Data.gov (United States)

    Small Business Administration — Certain government programs, such as SBA loan programs and contracting opportunities, are reserved for small business concerns. In order to qualify, businesses must...

  3. Promotion of uranium enrichment business

    International Nuclear Information System (INIS)

    Kurushima, Morihiro

    1981-01-01

    The Committee on Nuclear Power has studied on the basic nuclear power policy, establishing its five subcommittees, entrusted by the Ministry of Nternational Trade and Industry. The results of examination by the subcommittee on uranium enrichment business are given along with a report in this connection by the Committee. In order to establish the nuclear fuel cycle, the aspect of uranium enrichment is essential. The uranium enrichment by centrifugal process has proceeded steadily in Power Reactor and Nuclear Fuel Development Corporation. The following matters are described: the need for domestic uranium enrichment, the outlook for overseas enrichment services and the schedule for establishing domestic enrichment business, the current state of technology development, the position of the prototype enrichment plant, the course to be taken to establish enrichment business the main organization operating the prototype and commercial plants, the system of supplying centrifuges, the domestic conversion of natural uranium the subsidies for uranium enrichment business. (J.P.N.)

  4. BUSINESS ETHICS STANDARDS AND HOTEL BUSINESS

    OpenAIRE

    Ivica Batinić

    2014-01-01

    By implementing certain standards in business, especially the standards of business ethics, each entity in the hotel industry emphasize its specificity and recognition, while giving a guestconsumer security and a guarantee that they will get desired quality. In today's global world, business ethics has become an indispensable part of the hotel business practices and prerequisite for achieving business success. Business ethics receives strategic significance because ...

  5. Business grants

    Science.gov (United States)

    Twelve small businesses who are developing equipment and computer programs for geophysics have won Small Business Innovative Research (SBIR) grants from the National Science Foundation for their 1989 proposals. The SBIR program was set up to encourage the private sector to undertake costly, advanced experimental work that has potential for great benefit.The geophysical research projects are a long-path intracavity laser spectrometer for measuring atmospheric trace gases, optimizing a local weather forecast model, a new platform for high-altitude atmospheric science, an advanced density logging tool, a deep-Earth sampling system, superconducting seismometers, a phased-array Doppler current profiler, monitoring mesoscale surface features of the ocean through automated analysis, krypton-81 dating in polar ice samples, discrete stochastic modeling of thunderstorm winds, a layered soil-synthetic liner base system to isolate buildings from earthquakes, and a low-cost continuous on-line organic-content monitor for water-quality determination.

  6. BUSINESS ECOSYSTEMS VS BUSINESS DIGITAL ECOSYSTEMS

    Directory of Open Access Journals (Sweden)

    Marinela Lazarica

    2006-05-01

    Full Text Available E-business is often described as the small organisations’ gateway to global business and markets. The adoption of Internet-based technologies for e-business is a continuous process, with sequential steps of evolution. The latter step in the adoption of Internet-based technologies for business, where the business services and the software components are supported by a pervasive software environment, which shows an evolutionary and self-organising behaviour are named digital business ecosystems. The digital business ecosystems are characterized by intelligent software components and services, knowledge transfer, interactive training frameworks and integration of business processes and e-government models.

  7. business plan

    OpenAIRE

    Luzan, Dmitrij

    2009-01-01

    My thesis is dedicated to the business plan of the gastronomic facility. The thesis describes foundation of the company, analyses demand for the gastronomic services. The financial plan is being presented as well. The thesis includes the analysis of the company's environment, suppliers and customers. SWOT analysis, net present value analysis, index of the net present value and other ratio indexes are the parts of this thesis.

  8. 7 CFR 1980.498 - Business and Industry Disaster Loans.

    Science.gov (United States)

    2010-01-01

    ... loan will be due and payable to coincide with the cash flow operating cycle of the business... 7 Agriculture 14 2010-01-01 2009-01-01 true Business and Industry Disaster Loans. 1980.498 Section..., RURAL BUSINESS-COOPERATIVE SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF...

  9. Overall Insight into the Fashion Business

    OpenAIRE

    Hagelberg, Laura

    2015-01-01

    The aim of this thesis is to examine today’s fashion from a business perspective. In this thesis fashion business is examined through fashion history, fashion industry and life cycle, today’s fast fashion and also consumer behavior in fashion. This thesis is conducted for a Finnish fashion business, InStyle. InStyle is a family based fashion business operating mainly via online and monthly trade fairs. There is also a physical store in Savonlinna which sells InStyle brands. Though the ow...

  10. Antecedents and Consequences of Business Model Innovation

    DEFF Research Database (Denmark)

    Waldner, Florian; Poetz, Marion; Grimpe, Christoph

    2015-01-01

    evidence seems to be confined to firm-level antecedents and pays little attention to the impact of industry structure. This study investigates how different stages of an industry’s life cycle and levels of industry competition affect firms’ business model innovation, and how such innovation translates...... into innovation performance. Based on a cross-industry sample of 1,242 Austrian firms, we introduce a unique measure for the degree of innovation in a firm’s business model. The results indicate that the degree of business model innovation is highest toward the beginning of an industry life cycle, that is......What makes firms innovate their business models? Why do they engage in innovating how they create, deliver, and capture value? And how does such innovation translate into innovation performance? Despite the importance of business model innovation for achieving competitive advantage, existing...

  11. Defense Business Board

    Science.gov (United States)

    Skip to main content (Press Enter). Toggle navigation Defense Business Board Search Search Defense Business Board: Search Search Defense Business Board: Search Defense Business Board Business Excellence in Defense of the Nation Defense Business Board Home Charter Members Meetings Studies Contact Us The Defense

  12. No business like oil business..

    Energy Technology Data Exchange (ETDEWEB)

    Brydoey, Haakon

    2001-07-01

    Activity Based Costing (ABC) is a methodology used to measure the cost of performing business processes and to trace these costs to specific products and services. As a cost-reporting and management tool, ABC provides information on the resources (e.g., people, materials, equipment, facility space, etc.) used to accomplish an organization's mission. This is not just cost information; ABC also identifies an organization's processes, process boundaries, the people and organizational units involved in a process, the cost to execute single or multiple cycles of a process, process outputs (final products and services and work-in-process), and process customers. Whereas traditional cost systems simply capture the cost of producing products and services, ABC calculates costs based on the relevant activities performed in producing products and services. The fundamental difference between these two methodologies is that, where the traditional method allocates cost through overhead rates and surcharges, ABC assigns costs based on causal relationships. In short-you only pay for what you get, which may be new for some Parties. The report concluded and supported that ABC cost systems provide a more representative perspective of financial reality than traditional cost accounting systems because ABC systems trace, rather than allocate, resource costs to the activities they support. Allocation is the traditional practice of assigning some costs, such as overhead or indirect administrative and support expenses, by a certain formula, such as a multiple of direct labour costs. Allocation can be misleading because some processes consume more overheads than others do. In the private sector, this allocation problem causes managers to think that a certain product is profitable, when in fact it loses money. In the public sector, it may cause a wrong make/buy decision or an inappropriate estimate of productivity-and mask the fact that administrative and support expenses are

  13. Understanding the petrochemical cycle: Part 1

    International Nuclear Information System (INIS)

    Sedriks, W.

    1994-01-01

    Fitness in the hydrocarbon processing industry (HPI) arena involves understanding and coping with business cycles: supply and demand. This becomes increasingly more important as the industry globalizes and matures. Competitive-edge thinking needs to look hard at the forces that influence business cycles. Recognition of potential pitfalls is very important when considering: future capacity expansion, mergers and acquisitions, market departure, plant closure, potential product substitution, etc. Understanding pricing mechanisms and the workings of hockey-stick profitability profiles help HPI operators endure cycle downturns and prepare plants to maximize profits for the next upswing. The paper discusses characteristic trends, cycles in the hydrocarbon processing industry, current conditions, and mitigating cycle effects

  14. Business-to-business electronic commerce

    OpenAIRE

    John Wenninger

    1999-01-01

    To improve efficiency, some large retailers, suppliers, and distributors have begun to conduct business-to-business commerce electronically. This practice could grow rapidly if the Internet becomes the primary low-cost network for such transactions. Before the Internet can fully support business-to-business commerce, however, companies must overcome several technological and security obstacles.

  15. A business case method for business models

    NARCIS (Netherlands)

    Meertens, Lucas Onno; Starreveld, E.; Iacob, Maria Eugenia; Nieuwenhuis, Lambertus Johannes Maria; Shishkov, Boris

    2013-01-01

    Intuitively, business cases and business models are closely connected. However, a thorough literature review revealed no research on the combination of them. Besides that, little is written on the evaluation of business models at all. This makes it difficult to compare different business model

  16. Business modelling agility : Turning ideas into business

    NARCIS (Netherlands)

    Heikkila, J.; Heikkila, M.; Bouwman, W.A.G.A.

    2015-01-01

    Business Model Innovation is attracting more and more attention from business as well as from academics. Business Model Innovation deals with both technological and knowledge related changes that either may disrupt or sustain existing product/market strategies. Timing of Business Model Innovation

  17. Scary Business

    DEFF Research Database (Denmark)

    Platts, Todd; Clasen, Mathias

    2017-01-01

    Despite horror films representing business ventures intended to turn profit, box office analyses of the genre have remained rare in scholarly literature. Our study fills that gap through an examination of 117 horror films that reached the top 100 in domestic grosses in the North American film...... statistical approach, we identify a strong presence of supernatural horror films in the period under discussion as well as a relatively weak presence of zombie, vampire, and torture porn films. We argue that supernatural horror films have dominated the top-grossing films in the timeframe because such films...

  18. Management of Business Transformation to Sustainable Business

    OpenAIRE

    Grunda, Rokas

    2011-01-01

    Having examined the concepts of sustainable business and advantages and disadvantages of business sustainability management models, the objective of the dissertation is to formulate a management model of business transformation to sustainable business and to verify it in present business conditions in Lithuania. In the dissertation, the essence of the concepts of sustainable development and sustainability is characterized, the criteria of sustainable society are distinguished and the concept ...

  19. Business Model Innovation

    OpenAIRE

    Dodgson, Mark; Gann, David; Phillips, Nelson; Massa, Lorenzo; Tucci, Christopher

    2014-01-01

    The chapter offers a broad review of the literature at the nexus between Business Models and innovation studies, and examines the notion of Business Model Innovation in three different situations: Business Model Design in newly formed organizations, Business Model Reconfiguration in incumbent firms, and Business Model Innovation in the broad context of sustainability. Tools and perspectives to make sense of Business Models and support managers and entrepreneurs in dealing with Business Model ...

  20. Busy Americans

    Institute of Scientific and Technical Information of China (English)

    宫玉完

    2007-01-01

    In America,people are always in a hurry.You can see the people who are walking fast everywhere.They are so busy that they have no time to stay with their families.They work late and don’t get home until 7 or 8 at night.More than 50% of women work at full-time jobs.They do less childcare and don’t have enough time to prepare the food.That’s why"fast food"is so popular in America.People spend nearly half of their dollars on fast food.Fast food saves much time,but it is not good for health.

  1. Semantic Business Process Modeling

    OpenAIRE

    Markovic, Ivan

    2010-01-01

    This book presents a process-oriented business modeling framework based on semantic technologies. The framework consists of modeling languages, methods, and tools that allow for semantic modeling of business motivation, business policies and rules, and business processes. Quality of the proposed modeling framework is evaluated based on the modeling content of SAP Solution Composer and several real-world business scenarios.

  2. Sosiaalinen media business to business markkinoinnissa

    OpenAIRE

    Tsinovski, Kosti

    2010-01-01

    Opinnäytetyö käsittelee sosiaalisen median käyttöä business to business -markkinoinnissa. Sosiaalista mediaa tarkastellaan kirjallisuuden, verkkolähteiden ja kirjoittajan omien kokemuksien ja näkemyksien pohjalta. Sosiaalisen median soveltuvuutta business to business -markkinointiin käsitellään edellä mainittujen lähteiden lisäksi yrityshaastattelujen pohjalta. Tavoitteena on pohtia sosiaalinen median soveltuvuutta business to business -markkinointiin. Lisäksi tavoitteena on perustella sosiaa...

  3. Risky Business

    Science.gov (United States)

    Yarbrough, Katherine

    2015-01-01

    During my internship I worked on two major projects, recommending improvements for the Center's Risk Management Workshop and helping with the strategic planning efforts for Safety and Mission Assurance (S&MA). The risk management improvements is the key project I worked on this semester through my internship, while the strategic planning is the secondary assignment. S&MA Business Office covers both aspects in its delegation, getting both spans some of the work done in the office. A risk is a future event with a negative consequence that has some probability of occurring. Safety and Mission Assurance identifies, analyzes, plans, and tracks risk. The directorate offers the Center a Risk Management Workshop, and part of the ongoing efforts of S&MA is to make continuous improvements to the RM Workshop. By using the Project Management Institute's (PMI) Standard for Risk Management, I performed a gap analysis to make improvements for our materials. I benchmarked the PMI's Risk Management Standard, compared our Risk Management Workshop materials to PMI's standard, and identified any gaps in our material. My major findings were presented to the Business Office of S&MA for a decision on whether or not to incorporate the improvements. These suggestions were made by attending JSC working group meetings, Health, Safety and Environment (HSE) panel reviews and various risk review meetings. The improvements provide better understanding of risk management processes and enhanced risk tracking knowledge and skills. Risk management is an integral part of any engineering discipline, getting exposed to this section of engineering will greatly help shape my career in the future. Johnson Space Center is a world leader in risk management processes; learning risk management here gives me a huge advantage over my peers, as well as understanding decision making in the context of risk management will help me to be a well-rounded engineer. Strategic planning is an area I had not previously

  4. Business Continuity Management Plan

    Science.gov (United States)

    2014-12-01

    NAVAL POSTGRADUATE SCHOOL MONTEREY, CALIFORNIA MBA PROFESSIONAL REPORT BUSINESS CONTINUITY MANAGEMENT PLAN December 2014......maximum 200 words) Navy Supply Systems Command (NAVSUP) lacks a business process framework for the development of Business Continuity Management

  5. Involving business users in business rules lifecycle

    OpenAIRE

    Thorževskij, Sašo

    2010-01-01

    Organizations operate in dynamic environments, which require continuous modifications of business policies. The latter also implies changes in business informatics, the basis for effective and prosperous operation. To answer to the constant need for modifications and adaptations, a new approach to information systems design and implementation has been developed, based on separating business rules from the rest of the information system. In such solutions, business rule execution is entrusted ...

  6. Business-to-Business -markkinointistrategia sosiaalisessa mediassa

    OpenAIRE

    Kähärä, Karri

    2011-01-01

    Tämä opinnäytetyö keskittyy markkinointistrategian kehittämiseen business-to-business -yritykselle sosiaalisissa medioissa tapahtuvaa markkinointia varten. Opinnäytetyössä tarkastellaan sosiaalisia medioita ja markkinointistrategian luomista eri kirjallisuus- ja verkkolähteiden avulla. Opinnäytetyön tavoitteena on selvittää sosiaalisten medioiden mahdollisuuksia business-to-business -markkinointia harjoittavalle yritykselle ja kehittää konkreettinen markkinointi-suunnitelma sosiaalisissa medi...

  7. BRANDING IN SMALL BUSINESS

    OpenAIRE

    Catalin Mihail BARBU; Radu Florin OGARCA; Mihai Razvan Constantin BARBU

    2010-01-01

    In this paper we analyzed the branding in small business. Using a desk research on Internet and the press we have identified the practices small businesses use to enhance their brand and the brand dynamics in small business. Our main contribution is that we tried to figure out the strategy of branding in small business. This need further to be investigated in order to understand how branding works in small business and to better capture the role of branding in small business.

  8. School-Business Partnerships: Understanding Business Perspectives

    Science.gov (United States)

    Badgett, Kevin

    2016-01-01

    School-business partnerships have been shown to enhance educational experiences for students. There has, however, been limited research demonstrating the priorities and perspectives of for-profit business leaders on those partnerships. In order to address that gap, the researcher interviewed business leaders in two different areas of Texas. After…

  9. Business Inspiration: Small Business Leadership in Recovery?

    Science.gov (United States)

    Rae, David; Price, Liz; Bosworth, Gary; Parkinson, Paul

    2012-01-01

    Business Inspiration was a short, action-centred leadership and innovation development programme designed for owners and managers of smaller firms to address business survival and repositioning needs arising from the UK's economic downturn. The article examines the design and delivery of Business Inspiration and the impact of the programme on…

  10. Interactive pinball business

    DEFF Research Database (Denmark)

    Buur, Jacob; Gudiksen, Sune Klok

    2012-01-01

    Interaction design expands into new fields. Interaction design and business model innovation is a promising meeting of disciplines: Many businesses see the need to rethink their ways of doing business, and, as business models pose highly dynamic and interactive problems, interaction design has much...... with hypotheses and experiment with scenarios as a way of innovating their business models, and why this is so...... to offer. This paper compares 'tangible business models' in the form of pinball-like contraptions, designed by interaction design students with those developed by groups of professionals around concrete business issues. We will show how the interactive models encourage business people to play...

  11. Womens Business Center

    Data.gov (United States)

    Small Business Administration — Women's Business Centers (WBCs) represent a national network of nearly 100 educational centers throughout the United States and its territories, which are designed...

  12. Business models for model businesses: Lessons from renewable energy entrepreneurs in developing countries

    International Nuclear Information System (INIS)

    Gabriel, Cle-Anne; Kirkwood, Jodyanne

    2016-01-01

    Against the background of mounting research suggesting entrepreneurship as a means of increasing the uptake of renewable energy technologies (RETs) in developing countries, this paper presents the findings of an exploratory investigation into the business models used by renewable energy entrepreneurs in such countries. Forty-three entrepreneurs were interviewed in 28 developing countries and secondary information about country and regional conditions was analysed. We chose the Business Model Canvas as an analytical tool and the findings shed new light on established renewable energy business types. Three different types of businesses were identified – Consultants, Distributors, and Integrators; yet, there is also some overlap between these types. These business types appeared to parallel the life cycle progression of the business, but this requires further research. A key component of the study was to assess whether the types of businesses were related to country-level conditions to assess the impact of regional differences. These comparisons revealed consistencies between country-level characteristics and the entrepreneurs’ choice of business model. Conclusions suggest that different regions may support certain business models more than others due to differing levels of government interest in renewables, governance and policy support and the relative ease of doing business. - Highlights: •Business model canvas used to analyse renewable energy entrepreneurs’ businesses. •Consultants, distributors and integrators are the main business models used. •Business model characteristics are related to country and regional conditions. •Entrepreneurs in least favourable policy environments likely to be Consultants. •Energy entrepreneurship policy should focus on promoting specific business models.

  13. Social Business

    Directory of Open Access Journals (Sweden)

    Maria Cristina ENACHE

    2015-09-01

    Full Text Available The field of social business is growing rapidly and attracting increased attention from many sectors. The term itself shows up frequently in the media, is referenced by public officials, have become common on universities. The reasons behind the popularity of social entrepreneurship are many. On the most basic level, there’s something inherently interesting and appealing about entrepreneurs and the stories of why and how they do what they do. The interest in social entrepreneurship transcends the phenomenon of popularity and fascination with people. Social entrepreneurship signals the imperative to drive social change, and it is that potential payoff, with its lasting, transformational benefit to society, that sets the field and its practitioners apart. Although the potential benefits offered by social entrepreneurship are clear to many of those promoting and funding these activities, the actual definition of what social entrepreneurs do to produce this order of magnitude return is less clear. In fact, we would argue that the definition of social entrepreneurship today is anything but clear. As a result, social entrepreneurship has become so inclusive that it now has an immense tent into which all manner of socially beneficial activities fit. In some respects this inclusiveness could be a good thing. If we can achieve a rigorous definition, then those who support social entrepreneurship can focus their resources on building and strengthening a concrete and identifiable field. Absent that discipline, proponents of social entrepreneurship run the risk of giving the skeptics an ever-expanding target to shoot at, and the cynics even more reason to discount social innovation and those who drive it.

  14. Application impact analysis: a risk-based approach to business continuity and disaster recovery.

    Science.gov (United States)

    Epstein, Beth; Khan, Dawn Christine

    2014-01-01

    There are many possible disruptions that can occur in business. Overlooking or under planning for Business Continuity requires time, understanding and careful planning. Business Continuity Management is far more than producing a document and declaring business continuity success. What is the recipe for businesses to achieve continuity management success? Application Impact Analysis is a method for understanding the unique Business Attributes. This AIA Cycle involves a risk based approach to understanding the business priority and considering business aspects such as Financial, Operational, Service Structure, Contractual Legal, and Brand. The output of this analysis provides a construct for viewing data, evaluating impact, and delivering results, for an approved valuation of Recovery Time Objectives (RTO).

  15. Delivering IT and eBusiness value

    CERN Document Server

    Willcocks, Leslie

    2001-01-01

    Delivering Business Value from IT' is focused on the evaluation issue in IT and how IT evaluation can proceed across the life-cycle of any IT investment and be linked positively to improving business performance. .Chapters 1,2 and 3 detail an approach to IT evaluation whilst chapters 4 and 5 build on these by showing two distinctive approaches to linking IT to business performance. The remaining three chapters deal with a range of evaluation issues emerging as important - specifically Internet evaluation, Y2K and beyond, EMU, quality outsourcing, infrastructure, role of benchmarking, and cost

  16. BUSINESS ETHICS STANDARDS AND HOTEL BUSINESS

    Directory of Open Access Journals (Sweden)

    Ivica Batinić

    2014-04-01

    Full Text Available By implementing certain standards in business, especially the standards of business ethics, each entity in the hotel industry emphasize its specificity and recognition, while giving a guestconsumer security and a guarantee that they will get desired quality. In today's global world, business ethics has become an indispensable part of the hotel business practices and prerequisite for achieving business success. Business ethics receives strategic significance because it creates a system of governance based on ethical principles that enables the hotel to properly respond to the demands of all interest groups. Successful will be precisely those hotels that do not separate ethics from profitability, but those that successfully coordinate them in its business. Business ethics has a strong impact on hotel business, and a major role in its implementation has a hotel management. Every responsible hotel management should, in accordance with the business philosophy of hotel, devise various ethical practices and ethical codes of conduct prescribed by the employees who will be an important standard of a business object.

  17. Sulfur cycle

    Digital Repository Service at National Institute of Oceanography (India)

    LokaBharathi, P.A.

    Microbes, especially bacteria, play an important role in oxidative and reductive cycle of sulfur. The oxidative part of the cycle is mediated by photosynthetic bacteria in the presence of light energy and chemosynthetic forms in the absence of light...

  18. Some thorium fuel cycle strategies

    International Nuclear Information System (INIS)

    Duret, M.F.; Hatton, H.

    1979-02-01

    The report deals with the problem of introducing an advanced nuclear fuel cycle based on thorium in Canada. It is pointed out that timing and introduction rate are important considerations, certain choices of these variables leading to undesirable business fluctuations in some of the industries involved in the production of nuclear energy. (author)

  19. Competitiveness of Family Businesses

    NARCIS (Netherlands)

    M.A.A.M. Leenders (Mark); E. Waarts (Eric)

    2001-01-01

    textabstractThe purpose of this study is to systematically examine the advantages and disadvantages of different types of family businesses. We distinguish four different types of family businesses based on their family and business orientation: (1) House of Business, (2) Family Money Machine, (3)

  20. Small Business Commitment | NREL

    Science.gov (United States)

    Small Business Commitment Small Business Commitment Central to NREL's mission is our commitment to small business through a comprehensive and mature outreach program that combines proven techniques with the latest technology and best business practices. For More Information Contact Us Please email Rexann

  1. The business of petroleum exploration

    International Nuclear Information System (INIS)

    Steinmetz, R.

    1992-01-01

    This book contains the proceedings of the Business of Petroleum Exploration. The following topics are included: Petroleum business; Economic aspects of the business; Managing business; and Legal, Political, Ethical and environment aspects of the business

  2. Business plan competition

    CERN Multimedia

    2007-01-01

    "Venture – Companies for tomorrow" is a business plan competition, which supports students and other junior entrepreneurs in developing their business plans. The sixth edition of the competition is now taking place. Venture 2008 highlights: - prize money totalling CHF 150’000; - possibility to optimize business ideas and business plans with the help of experienced coaches: around 200 coaches are available, with a wide range of backgrounds, entrepreneurs as well as venture capitalists; -\tpossibility to present business ideas and business plans to potential investors ("Investor Days" - 17 January and 7 May); - active involvement in the start-up community; -\tcontribution to potential independence. The competition consists of two phases: Phase I, Business idea, Deadline for submission of business idea: 5 December 2007 (online at http://www.venture.ch). Award Ceremony: 17 January 2008 Phase II, Business plan Deadline for submission of business plan: 2 April 2008 (online at...

  3. The planning cycle.

    Science.gov (United States)

    Johnson, William

    2005-01-01

    Information technology planning can be described as a continuous cyclical process composed of three phases whose primary purpose is optimum allocation of scarce resources. In the assessment phase, planners assess user needs, environmental factors, business objectives, and IT infrastructure needs to develop IT projects that address needs in each of these areas. A major goal of this phase is to develop a broad IT inventory. The prioritization phase seeks to ensure optimum allocation of scarce resources by prioritizing ITprojects based on: Costs--total life cycle costs. Benefits--both quantitative and non-quantitative, including support for the organization's strategic business objectives. Risks--subjective assessments of technological and non-technological risks. Implementation requirements--time and personnel requirements to implement the system. The scheduling phase incorporates sequencing considerations, personnel availability, and budgetary constraints to produce an IT plan in which project priorities are adjusted to meet organizational realities.

  4. Business and Human Rights

    DEFF Research Database (Denmark)

    Buhmann, Karin

    2015-01-01

    This article analyses the United Nations (UN) Guidelines on Business and Human Rights adopted in 2011 by the UN Human Rights Council from the perspective of transnational business governance interactions (TBGI) analytical framework.1 The article identifies and discusses dimensions of interaction...... in several areas of relevance to transnational business governance interaction and indicates the relevance of the TBGI approach to public regulatory transnational business governance initiatives. The analysis of the Guiding Principles as interactional transnational business governance suggests that this form...

  5. Business Intelligence Integrated Solutions

    Directory of Open Access Journals (Sweden)

    Cristescu Marian Pompiliu

    2017-01-01

    Full Text Available This paper shows how businesses make decisions better and faster in terms of customers, partners and operations by turning data into valuable business information. The paper describes how to bring together people's and business intelligence information to achieve successful business strategies. There is the possibility of developing business intelligence projects in large and medium-sized organizations only with the Microsoft product described in the paper, and possible alternatives can be discussed according to the required features.

  6. Business Model Visualization

    OpenAIRE

    Zagorsek, Branislav

    2013-01-01

    Business model describes the company’s most important activities, proposed value, and the compensation for the value. Business model visualization enables to simply and systematically capture and describe the most important components of the business model while the standardization of the concept allows the comparison between companies. There are several possibilities how to visualize the model. The aim of this paper is to describe the options for business model visualization and business mod...

  7. POTENTIAL OF BUSINESS

    OpenAIRE

    Julija Avakumovic, Jelena Avakumovic

    2014-01-01

    Potential of businesses is available and relevant developed business opportunities which under certain conditions can affect the results of the business. Those are certain conditions possible exposure of the company. The success of a business depends of the knowledge of these resources and the way how to find the optimum combination of scale, structure and dynamics of available resources by the management of the business.

  8. Papers of the PTAC wireless, telecommunications and e-business forum : using wireless, SCADA, and well data life cycle management technology to boost productivity and reduce costs in the upstream oil and gas industry

    International Nuclear Information System (INIS)

    2004-01-01

    The main focus of this forum was the use of wireless, telecommunications and e-business as a means of improving efficiency and productivity in the upstream oil and gas industry. The use of new communications technologies in asset monitoring and business performance was discussed, as well as industrial automation and wireless connectivity in conjunction with Supervisory Control and Data Acquisition (SCADA) systems. New technologies in the areas of maintenance and decision support and synergy integration were introduced. New health, safety and environmental performance tools were presented. Issues concerning secure communications and document exchange expenses were also introduced, as well as different methods of closing data gaps between joint interest partners. Specific tools and software concerning compliance management with web-based and remote field data capture technology were discussed, as well as the collection and display of well-site data using newly developed BlueGauge technology. Eleven papers were presented in this forum, of which three were catalogued separately for inclusion in this database. tabs., figs

  9. Papers of the PTAC wireless, telecommunications and e-business forum : using wireless, SCADA, and well data life cycle management technology to boost productivity and reduce costs in the upstream oil and gas industry

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-07-01

    The main focus of this forum was the use of wireless, telecommunications and e-business as a means of improving efficiency and productivity in the upstream oil and gas industry. The use of new communications technologies in asset monitoring and business performance was discussed, as well as industrial automation and wireless connectivity in conjunction with Supervisory Control and Data Acquisition (SCADA) systems. New technologies in the areas of maintenance and decision support and synergy integration were introduced. New health, safety and environmental performance tools were presented. Issues concerning secure communications and document exchange expenses were also introduced, as well as different methods of closing data gaps between joint interest partners. Specific tools and software concerning compliance management with web-based and remote field data capture technology were discussed, as well as the collection and display of well-site data using newly developed BlueGauge technology. Eleven papers were presented in this forum, of which three were catalogued separately for inclusion in this database. tabs., figs.

  10. Freemium Business Models as the Foundation for Growing an E-business Venture: A Multiple Case Study of Industry Leaders

    DEFF Research Database (Denmark)

    Günzel-Jensen, Franziska; Holm, Anna B.

    2015-01-01

    directly and indirectly further resource acquisition. Second, while previous literature has taken a static perspective, we contribute by illustrating the dynamic process of strategic business model design for growth. Finally, we introduce the concept of the nascent business model which is new......In e-business freemium business models have become legitimate. However, current research provides little insight on how the free and premium offering should be employed to lead to growth and success in the long run. The presented research aims to fill this gap by investigating how the property...... ‘free’ was employed in young entrepreneurial ventures’ business models in the initial life-cycle stages – opportunity recognition, market entry, and market exploitation. We find that various forms of freemium business models are employed through the initial life-cycle stages of a new venture for reasons...

  11. Freemium Business Models as the Foundation for Growing an E-business Venture: A Multiple Case Study of Industry Leaders

    Directory of Open Access Journals (Sweden)

    Franziska Günzel-Jensen

    2015-01-01

    Full Text Available In e-business freemium business models have become legitiate. However, current research provides litte insight on how the free and premium offring should be employed to lead to growth and success in the long run. The presented research aims to fil this gap by investiatig how the property ‘free’ was employed in young entrepreneurial ventures’ business models in the initil life-cycle stages – opportunity recognitin, market entry, and market exploitatin. We fid that various forms of freemium business models are employed through the initil life-cycle stages of a new venture for reasons of trial-and-error, learning, exploratin, legitiizatin and resource acquisitin. A freemium business model can also serve as a nascent business model, though without a sustainable monetiatin component, for fiding a sustainable business model through a series of dynamic adjustments. With our fidings we contribute to the business model literature in three ways: First, our empirical fidings show the many-sidedness of the component ‘free’ in freemium business models. Free users are of importance for network building, exploratin and exploitatin and growth over tie. Moreover, free users enable directly and indirectly further resource acquisitin. Second, while previous literature has taken a stati perspectie, we contribute by illustratig the dynamic process of strategic business model design for growth. Finally, we introduce the concept of the nascent business model which is new to the literature.

  12. Business statistics for dummies

    CERN Document Server

    Anderson, Alan

    2013-01-01

    Score higher in your business statistics course? Easy. Business statistics is a common course for business majors and MBA candidates. It examines common data sets and the proper way to use such information when conducting research and producing informational reports such as profit and loss statements, customer satisfaction surveys, and peer comparisons. Business Statistics For Dummies tracks to a typical business statistics course offered at the undergraduate and graduate levels and provides clear, practical explanations of business statistical ideas, techniques, formulas, and calculations, w

  13. Business Plans For Dummies

    CERN Document Server

    Tiffany, Paul; Barrow, Colin

    2011-01-01

    A full updated and extended second edition of an established UK bestseller Business Plans For Dummies 2nd Edition features new and updated information on formulating a solid business plan to build a secure business - even in an economic downturn. Complete with a brand new business plan template to get you started this expert guide offers fresh advice on reading the competitive marketplace and assessing your business in the current economic climate. It walks you step-by-step through every aspect of planning achievable business goals and diversification strategies, identifying trends, exploring

  14. Business Models and Business Model Innovation

    DEFF Research Database (Denmark)

    Foss, Nicolai J.; Saebi, Tina

    2018-01-01

    While research on business models and business model innovation continue to exhibit growth, the field is still, even after more than two decades of research, characterized by a striking lack of cumulative theorizing and an opportunistic borrowing of more or less related ideas from neighbouring...

  15. Smart Business Networks Design and Business Genetics

    NARCIS (Netherlands)

    L-F. Pau (Louis-François)

    2006-01-01

    textabstractWith the emergence of smart business networks, agile networks, etc. as important research areas in management, for all the attractiveness of these concepts, a major issue remains around their design and the selection rules. While smart business networks should provide advantages due to

  16. Teaching Business Ethics or Teaching Business Ethically?

    Science.gov (United States)

    Stablein, Ralph

    2003-01-01

    Notes that one of the most important contexts for ethical decision-making is the nature and operation of "contemporary capitalisms." Suggests that rather than issuing a call for teaching business ethics, the author emphasizes the need for more ethical business teaching. (SG)

  17. Art Interrupting Business, Business interrupting Art

    DEFF Research Database (Denmark)

    Kampf, Constance Elizabeth

    2014-01-01

    Tensions between global corporations and digital artists who use business as an artistic and activist medium reveal rough edges in the interface between business and society. This interaction can be seen as a space where the interface between business and society is being challenged, with artists...... performing online art that raises awareness about hidden aspects of business practices. As digital artists place the spotlight on activities and business strategies that are not part of corporate plans for communicating their “transparency,” they also work to reconfigure and re(de)fine this interface. To set...... the scene for understanding digital activism, this chapter examines a partial history of digital artist activism focused on ®™ark and etoy, two artist collectives that were networked and cooperated on some projects in the late 1990s. The focus is on two projects and their impacts: Toywar and Vote...

  18. What is the Business of Business?

    DEFF Research Database (Denmark)

    Lystbæk, Christian Tang

    2014-01-01

    environment but, in turn, is affected by it. Sustainability has until relatively recently been seen as irrelevant to business practice, but, today, environmental issues are increasingly becoming a key business concern at local, national, international and global levels (e.g. Worthington, 2013). Corporate......This paper argues that environment issues in general and energy transition in particular have become central issues in the twenty-first century. Environmental problems pervade all areas of daily life, including the world of business. Put simply, business activity not only affects the natural...... Sustainability Responsibility (CSR) is an important part of the “greening” of business (Worthington, 2013). But it is also used as “greenwashing”. Thus, CSR is an exemplar of the type of “wicked problem” that characterizes much of sustainability: It is a solution that poses as many threats and complications...

  19. International images: business cards.

    Science.gov (United States)

    Gaston, S; Pucci, J

    1991-01-01

    Nursing specialists engage in a variety of international professional activities. Business cards are an important aspect of establishing a professional image. This article presents recommended business card contents, international etiquette, card design and production, and cared innovations.

  20. Government and Business

    DEFF Research Database (Denmark)

    Campbell, John L.

    2015-01-01

    There is a vast literature about the relationships between government and business in advanced capitalist societies.......There is a vast literature about the relationships between government and business in advanced capitalist societies....

  1. Useful Business Cases

    DEFF Research Database (Denmark)

    Nielsen, Peter Axel; Persson, John Stouby

    2017-01-01

    during implementation and value creation. This article presents lessons learned from our action research, lessons that we incorporated into a business case method and subsequently evaluated with IS managers. There are three lessons on: (1) improving the content of business cases, (2) how to develop...... research study seeks to improve the usefulness of business cases in IS projects. We used collaborative action research with Danish municipalities to improve their practices when developing and using business cases and to change their perceptions of what constitutes a good business case that is useful...... business cases, and (3) the use of business cases in subsequent value creation. These lessons summarize our findings and the contributions are that we in the business case method propose to: (1) include minimal contents, (2) develop social commitment, and (3) structure for dynamic use during value creation...

  2. Business Model Canvas

    NARCIS (Netherlands)

    D'Souza, Austin

    2013-01-01

    Presentatie gegeven op 13 mei 2013 op de bijeenkomst "Business Model Canvas Challenge Assen".
    Het Business Model Canvas is ontworpen door Alex Osterwalder. Het model werkt zeer overzichtelijk en bestaat uit negen bouwstenen.

  3. Military Business Success

    National Research Council Canada - National Science Library

    Ahmad, Mohamad

    2004-01-01

    The Small Business Innovation Research (SBIR) program was created in 1982 to stimulate research and development among small businesses while providing the government innovative technical and scientific solutions to challenging problems...

  4. Building multidisciplinary business teams

    International Nuclear Information System (INIS)

    Dyson, C.J.; Winte, N.C.

    1991-01-01

    This paper is a description of an approach to managing Exploration and Production assets through the operation of multidisciplinary business teams. The business team approach can assist in improved asset performance in terms of efficiency, motivation and business results, compared with more traditional matrix style hierarchies. Within this paper certain critical success factors for the long term success of multidiscipline teams are outlined, together with some of the risk of business team operation

  5. International business transactions

    OpenAIRE

    Buczkowski, Bogdan

    2016-01-01

    Running a business on an international scale requires not only a substantial body of knowledge but also the ability to apply it in practice. That is why our textbook, with a vast collection of practical examples, discusses a wide variety of pertinent issues connected with business operations in international markets, from international market analysis, drafting business plans, concluding business transactions and the insurance of goods through to customs clearance procedures and professional ...

  6. Stats means business

    CERN Document Server

    Buglear, John

    2010-01-01

    Stats Means Business is an introductory textbook written for Business, Hospitality and Tourism students who take modules on Statistics or Quantitative research methods. Recognising that most users of this book will have limited if any grounding in the subject, this book minimises technical language, provides clear definition of key terms, and gives emphasis to interpretation rather than technique.Stats Means Business enables readers to:appreciate the importance of statistical analysis in business, hospitality and tourism understand statis

  7. WOMEN IN FAMILY BUSINESS

    OpenAIRE

    Mr Anshu

    2012-01-01

    The role of women in family businesses is explored in the paper. Although recognized as generally very important players, the role of women is often defined as invisible in business decision-making, supportive in men’s traditional business domains and only rarelyadequately recognized and rewarded. The paper explores possible differences in the views of men and women who manage small family firms. Their attitudes opposing the traditional business roles ofwomen, different views on managerial, o...

  8. WRITTEN COMMUNICATION IN BUSINESS

    OpenAIRE

    Oana COSMAN

    2013-01-01

    The article examines the work of researchers primarily interested in the investigation of written communication in business settings. The author regards 'business discourse' as a field of study with distinct features in the domain of discourse analysis. Thus, the paper overviews the most important contributions to the development of written business discourse with a number of landmark studies. To gain a greater understanding of the written business discourse, the author also investigates some...

  9. Capital Improvements Business Line

    Science.gov (United States)

    2012-08-08

    NAVFAC Southwest Dan Waid Program & Business Mgmt NAVFAC SW Capital Improvements Business Line NAVFAC SW 8 August 2012 1 Report...REPORT TYPE 3. DATES COVERED 00-00-2012 to 00-00-2012 4. TITLE AND SUBTITLE Capital Improvements Business Line 5a. CONTRACT NUMBER 5b. GRANT...AVAILABILITY STATEMENT Approved for public release; distribution unlimited 13. SUPPLEMENTARY NOTES Presented at the 2012 Navy Gold Coast Small Business

  10. Management strategies for business

    OpenAIRE

    Alexander Sumets

    2018-01-01

    The paper aims to systematize business management strategies and identify their potential opportunities for the development of the competitive business advantages in transition economies. Characteristics of the features of modern business in developing countries (on the example of Ukraine) are given in the article in concise form. The relevance of the study of the relationship between strategy and business management is substantiated. Modern interpretations of the concepts of «strategy», «str...

  11. Competing through business models

    OpenAIRE

    Casadesus-Masanell, Ramon; Ricart, Joan E.

    2007-01-01

    In this article a business model is defined as the firm choices on policies, assets and governance structure of those policies and assets, together with their consequences, be them flexible or rigid. We also provide a way to represent such business models to highlight the dynamic loops and to facilitate understanding interaction with other business models. Furthermore, we develop some tests to evaluate the goodness of a business model both in isolation as well as in interaction with other bus...

  12. Business ethics education

    Directory of Open Access Journals (Sweden)

    Isaias Rivera

    2015-11-01

    Full Text Available This paper makes the review of the literature dedicated to relevant social issues that have been addressed by business practices and the business ethics literature, especially during the past century. The review of practical literature is undertaken from the perspective of the practitioner and demonstrates that the business ethics literature has been lax in the sense that it mostly addresses specific managerial problems and personal ethics within the business environment.

  13. Business, State of Alaska

    Science.gov (United States)

    Investment Advisors Business Law Charitable Gaming Division of Banking & Securities Laws Relating to Skip to content State of Alaska myAlaska My Government Resident Business in Alaska Visiting Alaska State Government Jobs Federal Jobs Starting a Small Business Living Get a Driver License Get a Hunting

  14. Food Business Entrepreneurship

    Science.gov (United States)

    Weber, Peter

    Though not a very traditional career path for food scientists, one option is to go into business for yourself by starting a food business. Food business entrepreneurship is a difficult career that entails long work hours, extensive decision making, and tasks that require knowledge beyond food science. However, there is high potential for rewards, including financial rewards, career progression, and personal flexibility.

  15. Business history and risk

    OpenAIRE

    Terry Gourvish

    2003-01-01

    CARR, in association with the Centre for Business History, University of Leeds, held a successful workshop on 'Business History and Risk' on 20 February 2002. The workshop, which was sponsored by the ESRC, brought together business historians, economists, accountants and risk analysts to develop an interdisciplinary discussion on understandings of risk by employers, workers and governments in different historical settings.

  16. Discovering the Business Studio

    Science.gov (United States)

    Barry, Daved; Meisiek, Stefan

    2015-01-01

    Over the past decade, numerous business schools have begun experimenting with studio-based inquiry, often drawing inspiration from professional studios used within art and design schools and from business and governmental studios used for problem-solving and innovation. Business school studios vary considerably in form, ranging from temporary…

  17. Business process intelligence

    NARCIS (Netherlands)

    Castellanos, M.; Alves De Medeiros, A.K.; Mendling, J.; Weber, B.; Weijters, A.J.M.M.; Cardoso, J.; Aalst, van der W.M.P.

    2009-01-01

    Business Process Intelligence (BPI,) is an emerging area that is getting increasingly popularfor enterprises. The need to improve business process efficiency, to react quickly to changes and to meet regulatory compliance is among the main drivers for BPI. BPI refers to the application of Business

  18. Business Law, Europe

    DEFF Research Database (Denmark)

    Fomcenco, Alex; Werlauff, Erik

    This book is a must-have for any business advisor that operates on a cross-border level in the European Union, EU. Regardless of whether you already have solid knowledge about doing business in the EU or you are just taking your first steps on this corporate scene, Business Law, Europe should be ...

  19. Networked business process management

    NARCIS (Netherlands)

    Grefen, P.W.P.J.

    2013-01-01

    In the current economy, a shift can be seen from stand-alone business organizations to networks of tightly collaborating business organizations. To allow this tight collaboration, business process management in these collaborative networks is becoming increasingly important. This paper discusses

  20. Making business models

    DEFF Research Database (Denmark)

    Gudiksen, Sune Klok; Poulsen, Søren Bolvig; Buur, Jacob

    2014-01-01

    Well-established companies are currently struggling to secure profits due to the pressure from new players' business models as they take advantage of communication technology and new business-model configurations. Because of this, the business model research field flourishes currently; however, t...

  1. Business model innovation paths

    NARCIS (Netherlands)

    Chesbrough, H.; Di Minin, Alberto; Piccaluga, A.

    2013-01-01

    This chapter explains the business model concept and explores the reasons why “innovation” and “innovation in services” are no longer exclusively a technological issue. Rather, we highlight that business models are critical components at the centre of business innovation processes. We also attempt

  2. Introducing Business English

    NARCIS (Netherlands)

    Nickerson, C.; Planken, B.C.

    2015-01-01

    Introducing Business English provides a comprehensive overview of this topic, situating the concepts of Business English and English for Specific Business Purposes within the wider field of English for Special Purposes. This book draws on contemporary teaching and research contexts to demonstrate

  3. Business risk management

    International Nuclear Information System (INIS)

    Cosby, C.

    2015-01-01

    Bruce Power's definition: an emerging and demonstrable event or change in business plan assumptions that could impact Bruce Power's achievement of its business plan objectives and results. Risks can be either negative (threats) or positive (opportunities). Risks against the 5 year business plan Net Risk = impact * probability.

  4. Business risk management

    Energy Technology Data Exchange (ETDEWEB)

    Cosby, C., E-mail: Christine.cosby@brucepower.com [Bruce Power, Tiverton, ON (Canada)

    2015-07-01

    Bruce Power's definition: an emerging and demonstrable event or change in business plan assumptions that could impact Bruce Power's achievement of its business plan objectives and results. Risks can be either negative (threats) or positive (opportunities). Risks against the 5 year business plan Net Risk = impact * probability.

  5. Defense Business Transformation

    Science.gov (United States)

    2009-12-01

    Defense Business Transformation by Jacques S. Gansler and William Lucyshyn The Center for Technology and National...REPORT TYPE 3. DATES COVERED 00-00-2009 to 00-00-2009 4. TITLE AND SUBTITLE Defense Business Transformation 5a. CONTRACT NUMBER 5b. GRANT NUMBER...vii Part One: DoD Business Transformation

  6. English for Business Communication

    Science.gov (United States)

    Bhatia, Vijay K.; Bremner, Stephen

    2012-01-01

    The concept of Business English has undergone some major shifts in the last few years because of a number of developments, such as advances in genre theory and the coming together of English for Business Purposes and Business Communication, inspired by the realization that there is a gap to be bridged between the academy and the globalized…

  7. Articulating Business Education Curricula.

    Science.gov (United States)

    McEwen, Beryl C.

    1998-01-01

    Responses from 75 of 108 business educators indicated that most students took business courses to develop both job and personal-use skills; more than 50% were college bound. A substantial overlap between skills taught in secondary and postsecondary business shows a strong possibility for curriculum articulation. (SK)

  8. Business advertisements management system

    OpenAIRE

    Rekel, Ernest

    2017-01-01

    Business Advertisements Management System The main goal of the project was to create a business advertisements management system, where users could easily create and find business advertisements. To accomplish this goal exist- ing systems were analyzed as well as their limitations. The end result is a working system which is able to store and proccess huge amount of data.

  9. Automatic generation of optimal business processes from business rules

    NARCIS (Netherlands)

    Steen, B.; Ferreira Pires, Luis; Iacob, Maria Eugenia

    2010-01-01

    In recent years, business process models are increasingly being used as a means for business process improvement. Business rules can be seen as requirements for business processes, in that they describe the constraints that must hold for business processes that implement these business rules.

  10. Corporate Business Diplomacy

    DEFF Research Database (Denmark)

    Søndergaard, Mikael

    2014-01-01

    This article illustrates the interdisciplinary nature of the field of corporate business diplomacy using examples from academic disciplines, such as economics and political science, which can contribute to the understanding of corporate business diplomacy. Examples also show that corporate business...... diplomacy can complement business theories such as stakeholder theory and agency theory. Examples from practice show that in a broad sense, corporate business diplomacy is concerned with managing external stakeholders, while in a narrow sense, it is concerned with managing internal stakeholders....... The usefulness of an analytical research triangulation is illustrated....

  11. Revision of Business Ethics

    OpenAIRE

    Tomas Sigmund

    2011-01-01

    Business ethics is a controversial topic. In my article I would like to explore where the limits of business ethics are and to what extent it can become part of the economic world. I would like to explore the question what the relationship between ethics and business is and whether what business ethicists consider ethics is real ethics in the fundamental sense of the world. The concept of business ethics will be discussed compared to general ethical theories and consequences drawn. I would li...

  12. Ethical aspects of business

    OpenAIRE

    Konečná, Lucie

    2013-01-01

    This thesis covers the topic of the ethical aspects of business. The paper defines what an ethics and a business ethics are and it describes selected tools of business ethics. The practical part focuses on building company called Skanska and on its view of business ethics. This part consists of an interview with managing director of Skanska SK a.s. and of a questionnaire survey. The main goal of this thesis is to analyze the level of the business ethics in this building company. The main rese...

  13. Designing Business Model Change

    DEFF Research Database (Denmark)

    Cavalcante, Sergio Andre

    2014-01-01

    The aim of this paper is to base organisational change on the firm's business model, an approach that research has only recently start to address. This study adopts a process-based perspective on business models and insights from a variety of theories as the basis for the development of ideas...... on the design of business model change. This paper offers a new, process-based strategic analytical artefact for the design of business model change, consisting of three main phases. Designing business model change as suggested in this paper allows ex ante analysis of alternative scenarios of change...

  14. Business and Human Rights

    DEFF Research Database (Denmark)

    Buhmann, Karin

    This article analyses the United Nations (UN) Guidelines on Business and Human Rights adopted in 2011 by the UN Human Rights Council from the perspective of Transnational Business Governance Interactions (TBGI) analytical framework (Eberlein et al. 2014). The article identifies and discusses...... that the UN Guiding Principles are unique in several respects of relevance to transnational business governance interaction and indicate the relevance of the TBGI approach to public regulatory transnational business governance initiatives. The analysis of the Guiding Principles as interactional transnational...... business governance suggests that this form of governance offers prospects for public institutions as a means towards regulating global sustainability concerns....

  15. Revision of Business Ethics

    Directory of Open Access Journals (Sweden)

    Tomas Sigmund

    2011-01-01

    Full Text Available Business ethics is a controversial topic. In my article I would like to explore where the limits of business ethics are and to what extent it can become part of the economic world. I would like to explore the question what the relationship between ethics and business is and whether what business ethicists consider ethics is real ethics in the fundamental sense of the world. The concept of business ethics will be discussed compared to general ethical theories and consequences drawn. I would like to show the contradictions inherent to the connection of business and ethics are no coincidence. At the end a possible relationship between ethics and business sphere will be suggested.

  16. Glacial cycles

    DEFF Research Database (Denmark)

    Kaufmann, R. K.; Juselius, Katarina

    We use a statistical model, the cointegrated vector autoregressive model, to assess the degree to which variations in Earth's orbit and endogenous climate dynamics can be used to simulate glacial cycles during the late Quaternary (390 kyr-present). To do so, we estimate models of varying complexity...... and compare the accuracy of their in-sample simulations. Results indicate that strong statistical associations between endogenous climate variables are not enough for statistical models to reproduce glacial cycles. Rather, changes in solar insolation associated with changes in Earth's orbit are needed...... to simulate glacial cycles accurately. Also, results suggest that non-linear 10 dynamics, threshold effects, and/or free oscillations may not play an overriding role in glacial cycles....

  17. Fuel cycles

    International Nuclear Information System (INIS)

    Hawley, N.J.

    1983-05-01

    AECL publications, from the open literature, on fuels and fuel cycles used in CANDU reactors are listed in this bibliography. The accompanying index is by subject. The bibliography will be brought up to date periodically

  18. Canadian Business Schools: Going out of Business?

    Science.gov (United States)

    Dobni, Dawn; Dobni, Brooke

    1996-01-01

    Using Porter's five-forces model (potential entrants, suppliers, buyers, rivalry, substitutes) to analyze competition in Canadian university business schools, the authors conclude that schools are becoming increasingly vulnerable to competitive pressures and that strategic reorientation is necessary. (SK)

  19. Cultural management in family business

    Directory of Open Access Journals (Sweden)

    Patricia Amelia Tomei

    2010-01-01

    Full Text Available This article's main goal is to analyze how the evolution of organizational culture can impact business performance. A theoretical framework was developed based on a review of the literature relating to organizational culture and family business succession management models. A single case study methodology was adopted based on primary and secondary data obtained through documentary research, participant observation and interviews at Guapo Loco, a Brazilian chain of Mexican restaurants / fun bars, which is a family company and was founded in Rio de Janeiro in 1996. We focused on its leader's trajectory and its implications for the life cycle of the family business, the founder¿s dream and vision, succession and cultural management difficulties. We conclude that it is possible for an organization to become trapped by its cultural formation. We will see that as it reaches maturity, the organizational, family and shareholder dimensions need to adapt in a similar fashion. At this stage, the organizational culture may become dysfunctional, jeopardizing the organization's survival.

  20. Business Intelligence in Process Control

    Science.gov (United States)

    Kopčeková, Alena; Kopček, Michal; Tanuška, Pavol

    2013-12-01

    The Business Intelligence technology, which represents a strong tool not only for decision making support, but also has a big potential in other fields of application, is discussed in this paper. Necessary fundamental definitions are offered and explained to better understand the basic principles and the role of this technology for company management. Article is logically divided into five main parts. In the first part, there is the definition of the technology and the list of main advantages. In the second part, an overview of the system architecture with the brief description of separate building blocks is presented. Also, the hierarchical nature of the system architecture is shown. The technology life cycle consisting of four steps, which are mutually interconnected into a ring, is described in the third part. In the fourth part, analytical methods incorporated in the online analytical processing and data mining used within the business intelligence as well as the related data mining methodologies are summarised. Also, some typical applications of the above-mentioned particular methods are introduced. In the final part, a proposal of the knowledge discovery system for hierarchical process control is outlined. The focus of this paper is to provide a comprehensive view and to familiarize the reader with the Business Intelligence technology and its utilisation.

  1. Business Climate and Good Governance

    Directory of Open Access Journals (Sweden)

    Besmira Manaj

    2015-03-01

    Full Text Available This paper consists of three factors, namely: Good Governance, Business Climate and Corruption. How they affect the development product of Albania, not only as a concept, and a principle but mostly as a sensitive aspect in the integration process. There are some interpretations of this concept, but I intend to analyze the key factors and actors, their cooperation and concrete production in society. Improving governance is necessary to have an integrated long term strategy based upon a continuous cooperation between institutions and citizens. But in developing countries like Albania there are some important questions such as: How can we measure the improvement of Good Governance through policies? Has Good Governance indicated an effective way for the sustainable development? (Meisel, 2008, 6. These question give us the orientation to reflect about the process of development, social economic political behavior and how this multidimensional is transformed in product of good governance. The business cycle is strongly connected with many aspects of political-, social-, juridical aspects and good governance. Despite attempts to draft law regulations, the level of corruption and informality in Albania continues to be a major obstacle. The credibility level in the implementation of law is an indicator that affects democratization and institutional integration. At present, different reports of international institutions, define Albania as the country with the highest level of Corruption in the Balkans, which is a key factor influencing business. The ways with

  2. Social Business Models

    Directory of Open Access Journals (Sweden)

    Maria Cristina Enache

    2015-09-01

    Full Text Available A Social Business embraces networks of people to create business value. A Social Business connects people to expertise. It enable individuals – whether customers, partners or employees – to form networks to generate new sources of innovation, foster creativity, and establish greater reach and exposure to new business opportunities. It establishes a foundational level of trust across these business networks and, thus, a willingness to openly share information. It empowers these networks with the collaborative, gaming and analytical tools needed for members to engage each other and creatively solve business challenges. A Social business strives to remove unnecessary boundaries between experts inside the company and experts in the marketplace. It embraces the tools and leadership models that support capturing knowledge and insight from many sources, allowing it to quickly sense changes in customer mood, employee sentiment or process efficiencies. It utilizes analytics and social connections inside and outside the company to solve business problems and capture new business opportunities. A Social Business leverages these social networks to speed up business, gaining real time insight to make quicker and better decisions. It gets information to customers and partners in new ways -- faster. Supported by ubiquitous access on mobile devices and new ways of connecting and working together in the Cloud and on open platforms, a Social Business turns time and location from constraints into advantages. Business is free to occur when and where it delivers the greatest value, allowing the organization to adapt quickly to the changing marketplace. We believe the most effective approach to enabling a Social Business centers around helping people discover expertise, develop social networks and capitalize on relationships.

  3. 76 FR 8221 - Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status...

    Science.gov (United States)

    2011-02-11

    ... Vol. 76 Friday, No. 29 February 11, 2011 Part VII Small Business Administration 13 CFR Parts 121 and 124 Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status... Regulations#0;#0; [[Page 8222

  4. Business Performer-Centered Design of User Interfaces

    Science.gov (United States)

    Sousa, Kênia; Vanderdonckt, Jean

    Business Performer-Centered Design of User Interfaces is a new design methodology that adopts business process (BP) definition and a business performer perspective for managing the life cycle of user interfaces of enterprise systems. In this methodology, when the organization has a business process culture, the business processes of an organization are firstly defined according to a traditional methodology for this kind of artifact. These business processes are then transformed into a series of task models that represent the interactive parts of the business processes that will ultimately lead to interactive systems. When the organization has its enterprise systems, but not yet its business processes modeled, the user interfaces of the systems help derive tasks models, which are then used to derive the business processes. The double linking between a business process and a task model, and between a task model and a user interface model makes it possible to ensure traceability of the artifacts in multiple paths and enables a more active participation of business performers in analyzing the resulting user interfaces. In this paper, we outline how a human-perspective is used tied to a model-driven perspective.

  5. A model for Business Intelligence Systems’ Development

    Directory of Open Access Journals (Sweden)

    Manole VELICANU

    2009-01-01

    Full Text Available Often, Business Intelligence Systems (BIS require historical data or data collected from var-ious sources. The solution is found in data warehouses, which are the main technology used to extract, transform, load and store data in the organizational Business Intelligence projects. The development cycle of a data warehouse involves lots of resources, time, high costs and above all, it is built only for some specific tasks. In this paper, we’ll present some of the aspects of the BI systems’ development such as: architecture, lifecycle, modeling techniques and finally, some evaluation criteria for the system’s performance.

  6. 75 FR 1296 - Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status...

    Science.gov (United States)

    2010-01-11

    ... SMALL BUSINESS ADMINISTRATION 13 CFR Parts 121 and 124 Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status Determinations AGENCY: U.S. Small Business Administration. ACTION: Notice of public meetings; request for comments. SUMMARY: The U.S. Small Business...

  7. Managing Service Development (SaaS) as a project: business process modeling

    OpenAIRE

    Iliadi, Vasiliki; Ηλιάδη, Βασιλική

    2017-01-01

    In the context of the present thesis, we will be studying core principles of Business Process Management, and how we can take advantage of them in combination with Project Management Methodologies and modeling tools in the context of Software as a Service businesses and their development. Initially we provide the reader with an introduction to Business Process Management, how it can be used, and how the life cycle is structured. We further define the first three phases of the life cycle to...

  8. Conceptual Model of Business Value of Business Intelligence Systems

    OpenAIRE

    Popovič, Aleš; Turk, Tomaž; Jaklič, Jurij

    2010-01-01

    With advances in the business intelligence area, there is an increasing interest for the introduction of business intelligence systems into organizations. Although the opinion about business intelligence and its creation of business value is generally accepted, economic justification of investments into business intelligence systems is not always clear. Measuring the business value of business intelligence in practice is often not carried out due to the lack of measurement methods and resourc...

  9. CONTROLLING AND BUSINESS EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Tina Vuko

    2013-02-01

    Full Text Available Managing business successfully in dynamic environment requires effective controlling system. Controlling is the process of defining objectives, planning and management control so that every decision maker can act in accordance with agreed objectives. Controlling function as a separate department contributes business efficiency trough ensuring transparency of business result and business processes. Controlling takes place when manager and controller cooperate. The aim of this paper is to investigate the effectiveness of controlling function (i.e. controlling department in Croatian companies and to address the specific features of the function that contribute significantly to overall business performance. The research is conducted on the sample of companies listed on the Regulated market of the Zagreb Stock Exchange. Survey is used as a method to collect the data regarding the controlling function, while financial data necessary for the research are extracted from the published financial statements. Results of the research indicate that controlling department has positive effects on the business performance.

  10. The Business of Ethnography

    DEFF Research Database (Denmark)

    Moeran, Brian

    not only on social behavior and human relations in general but, more specifically, on the importance of strategic exchange to all business practices. Moeran's fieldwork, rooted in participant-observation of business life in communities and corporations, leads him to an original theory of how business...... operates. Culture is not all-powerful, Moeran shows. Instead, social structures strongly influence behavior. At the heart of Moeran's analysis is a firm belief in fieldwork and ethnography - terms much bandied about in business, management and cultural studies, but rarely undertaken in depth. The Business......Can an anthropologist help us understand the world of business? Armed with this question, veteran anthropologist Brian Moeran embarks on an in-depth study of cultural production and creative industries in Japan. At once the blundering ethnographer and shrewd observer, Moeran is able to shed light...

  11. Business Intelligence Systems

    Directory of Open Access Journals (Sweden)

    Bogdan NEDELCU

    2014-02-01

    Full Text Available The aim of this article is to show the importance of business intelligence and its growing influence. It also shows when the concept of business intelligence was used for the first time and how it evolved over time. The paper discusses the utility of a business intelligence system in any organization and its contribution to daily activities. Furthermore, we highlight the role and the objectives of business intelligence systems inside an organization and the needs to grow the incomes and reduce the costs, to manage the complexity of the business environment and to cut IT costs so that the organization survives in the current competitive climate. The article contains information about architectural principles of a business intelligence system and how such a system can be achieved.

  12. Risk in International Business

    OpenAIRE

    Canavan, Deirdre; Sharkey Scott, Pamela

    2012-01-01

    Risk in international business can stress risk adverse behaviour to counteract foreign market uncertainty or individual entrepreneurial risk taking behaviour dependent on the characteristics of both the business sector and the individual. International business theory would suggest that the perception of risk may differ in situations including where new market entry is incremental, is taken in larger or earlier stages, or indeed whether it may be experienced in a continually fluctuating manne...

  13. UNDERSTANDING SMALL BUSINESS SCAMS

    OpenAIRE

    MICHAEL T. SCHAPER; PAUL WEBER

    2012-01-01

    This paper provides an overview of the current state of knowledge about small business scams. A scam is a form of dishonest action, based upon an invitation to participate in an activity. Victims are encouraged, mislead or induced to voluntarily interact with the perpetrator, and ultimately to willingly surrender over money, information or other valuable resources. Common forms of scams directed towards small business include phishing, false business valuations and sales, fake overpayments, f...

  14. Sustainability and Business Planning

    OpenAIRE

    Joy Davidson

    2017-01-01

    This session will consider the longer term sustainability of ROM services and provide an introduction to Business Model Canvas (BMC) as a tool to help develop a longer term business plan. Working in institutional groups, each group will work together to develop a BMC for their institution. This will be revisited at several stages over the life of the project and updated accordingly. By the end of this session, participants will: •be able to flesh out a Business Model C...

  15. Doing Business with DARPA

    Science.gov (United States)

    2009-03-01

    Approved For Public Release, Distribution Unlimited 1 Doing Business with DARPA Michael Blackstone Contracting Officer DARPA Contracts Management...DATE MAR 2009 2. REPORT TYPE 3. DATES COVERED 00-00-2009 to 00-00-2009 4. TITLE AND SUBTITLE Doing Business with DARPA 5a. CONTRACT NUMBER...Topics: Business Process (Contracting Perspective) Pre-solicitation Solicitation Evaluation/Selection Negotiations Communications Approved For Public

  16. Small Business Procurement Event

    Science.gov (United States)

    2014-08-13

    Small Business Procurement Event 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c. PROGRAM ELEMENT NUMBER 6. AUTHOR(S) 5d. PROJECT NUMBER 5e. TASK...NUMBER 5f. WORK UNIT NUMBER 7. PERFORMING ORGANIZATION NAME(S) AND ADDRESS(ES) Department of the Navy,Office of Small Business Programs,720 Kennon...distribution unlimited 13. SUPPLEMENTARY NOTES NDIA 27th Navy Gold Coast Small Business Procurement Event, 12-13 Aug 2014, San Diego, CA. 14. ABSTRACT

  17. Franchise business development evaluation

    OpenAIRE

    Jurgelionytė, Greta

    2016-01-01

    The main purpose of this course paper is to explore the franchise business by examining the literature as well as „from inside“ – by examining real practical cases. The work consists of three main parts; the analysis of literature, the statistics, and the research as well as it‘s results, findings and recommendations. Literature analysis reviews the desctriptions of franchise related terms, examines the benefits and limitations related to this business, and describes the business models. Stat...

  18. Anarchism and business ethics

    OpenAIRE

    Franks, Benjamin

    2014-01-01

    ‘Anarcho’-capitalism has for decades occupied a small but significant position within ‘business ethics’, while the anarchism associated with the larger traditions of workers and social movements has only had a spectral presence. Social anarchisms’ forms of opposition and proposed alternatives to standard liberal business practices, identities and presuppositions have appeared only fleetingly in mainstream business ethics. In the light\\ud of these anarchist hauntings, this paper identifies and...

  19. Why business models matter.

    Science.gov (United States)

    Magretta, Joan

    2002-05-01

    "Business model" was one of the great buzz-words of the Internet boom. A company didn't need a strategy, a special competence, or even any customers--all it needed was a Web-based business model that promised wild profits in some distant, ill-defined future. Many people--investors, entrepreneurs, and executives alike--fell for the fantasy and got burned. And as the inevitable counterreaction played out, the concept of the business model fell out of fashion nearly as quickly as the .com appendage itself. That's a shame. As Joan Magretta explains, a good business model remains essential to every successful organization, whether it's a new venture or an established player. To help managers apply the concept successfully, she defines what a business model is and how it complements a smart competitive strategy. Business models are, at heart, stories that explain how enterprises work. Like a good story, a robust business model contains precisely delineated characters, plausible motivations, and a plot that turns on an insight about value. It answers certain questions: Who is the customer? How do we make money? What underlying economic logic explains how we can deliver value to customers at an appropriate cost? Every viable organization is built on a sound business model, but a business model isn't a strategy, even though many people use the terms interchangeably. Business models describe, as a system, how the pieces of a business fit together. But they don't factor in one critical dimension of performance: competition. That's the job of strategy. Illustrated with examples from companies like American Express, EuroDisney, WalMart, and Dell Computer, this article clarifies the concepts of business models and strategy, which are fundamental to every company's performance.

  20. SME International Business Models

    DEFF Research Database (Denmark)

    Child, John; Hsieh, Linda; Elbanna, Said

    2017-01-01

    This paper addresses two questions through a study of 180 SMEs located in contrasting industry and home country contexts. First, which business models for international markets prevail among SMEs and do they configure into different types? Second, which factors predict the international business...... models that SMEs follow? Three distinct international business models (traditional market-adaptive, technology exploiter, and ambidextrous explorer) are found among the SMEs studied. The likelihood of SMEs adopting one business model rather than another is to a high degree predictable with reference...

  1. Exploration: A misunderstood business

    International Nuclear Information System (INIS)

    Lohrenz, J.

    1991-01-01

    The business of exploration is persistently misunderstand. Why? Misunderstandings persist and even pervade educated, sophisticated, and obviously capable business practitioners and savants of an array of disciplines - finance, economics, and the management sciences. Routine and appropriate assumptions that apply for most businesses invoke nonsense applied to exploration, a unique business. The uniqueness of exploration, unrecognized, sustains the misunderstandings. The authors will not here obliterate these obdurate misunderstandings with some revelation. They show, however, how the misunderstandings naturally arise among those who certainly are not used to being naive

  2. Neuroeconomics and business psychology

    DEFF Research Database (Denmark)

    Larsen, Torben

    2010-01-01

    To determine parameters of the frontal power of executive integration for application in business, this paper reviewed neuroeconomic neuroimaging research and discussion in relation to business psychology. The results are that limbic system (L) is a centre of primary consciousness based on a meso......To determine parameters of the frontal power of executive integration for application in business, this paper reviewed neuroeconomic neuroimaging research and discussion in relation to business psychology. The results are that limbic system (L) is a centre of primary consciousness based...

  3. 2015 Business Licenses

    Data.gov (United States)

    City of Jackson, Mississippi — This data displays all business license information for the year of 2015. This information details license classifications and status. This information will updated...

  4. Networx Business Parent

    Data.gov (United States)

    General Services Administration — These datasets represent the Networx Universal and Enterprise business volume of each government agency that has ordered telecommunications services from the Networx...

  5. Discovering the Business Studio

    DEFF Research Database (Denmark)

    Barry, Daved; Meisiek, Stefan

    2015-01-01

    ? To address this question, we pull together 25 years of studio experimentation in multiple settings, visits, and observations of studios around the world and interviews with studio makers from various disciplines. We consider the question of “what is a business studio?” in some detail, conjecture about......Over the past decade, numerous business schools have begun experimenting with studio-based inquiry, often drawing inspiration from professional studios used within art and design schools and from business and governmental studios used for problem-solving and innovation. Business school studios vary...

  6. Towards Ethical Business

    OpenAIRE

    László Zsolnai

    2003-01-01

    Business activities considerably affect the fate and survival of natural ecosystems as well as the life conditions of present and future generations. In the light of Hans Jonas' theory of responsibility we can state that business has a one-way, non-reciprocal duty caring for the beings affected by its functioning. To become a fully ethical enterprise, business is to be carried out in sustainable, pro-social and future enhancing ways. Doing ethical business is not a luxury of advanced societie...

  7. Coordination cycles

    Czech Academy of Sciences Publication Activity Database

    Steiner, Jakub

    -, č. 274 (2005), s. 1-26 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : coordination * crises * cycles and fluctuations Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp274.pdf

  8. Happy Cycling

    DEFF Research Database (Denmark)

    Geert Jensen, Birgitte; Nielsen, Tom

    2013-01-01

    og Interaktions Design, Aarhus Universitet under opgave teamet: ”Happy Cycling City – Aarhus”. Udfordringen i studieopgaven var at vise nye attraktive løsningsmuligheder i forhold til cyklens og cyklismens integration i byrum samt at påpege relationen mellem design og overordnede diskussioner af...

  9. Coordination cycles

    Czech Academy of Sciences Publication Activity Database

    Steiner, Jakub

    2008-01-01

    Roč. 63, č. 1 (2008), s. 308-327 ISSN 0899-8256 Institutional research plan: CEZ:AV0Z70850503 Keywords : global games * coordination * crises * cycles and fluctuations Subject RIV: AH - Economics Impact factor: 1.333, year: 2008

  10. Cycling infrastructure for reducing cycling injuries in cyclists.

    Science.gov (United States)

    Mulvaney, Caroline A; Smith, Sherie; Watson, Michael C; Parkin, John; Coupland, Carol; Miller, Philip; Kendrick, Denise; McClintock, Hugh

    2015-12-10

    abstracts of papers obtained from searches to determine eligibility. Two review authors extracted data from the included trials and assessed the risk of bias. We carried out a meta-analysis using the random-effects model where at least three studies reported the same intervention and outcome. Where there were sufficient studies, as a secondary analysis we accounted for changes in cyclist exposure in the calculation of the rate ratios. We rated the quality of the evidence as 'high', 'moderate', 'low' or 'very low' according to the GRADE approach for the installation of cycle routes and networks. We identified 21 studies for inclusion in the review: 20 controlled before-after (CBA) studies and one interrupted time series (ITS) study. These evaluated a range of infrastructure including cycle lanes, advanced stop lines, use of colour, cycle tracks, cycle paths, management of the road network, speed management, cycle routes and networks, roundabout design and packages of measures. No studies reported medically-attended or self-reported injuries. There was no evidence that cycle lanes reduce the rate of cycle collisions (rate ratio 1.21, 95% CI 0.70 to 2.08). Taking into account cycle flow, there was no difference in collisions for cyclists using cycle routes and networks compared with cyclists not using cycle routes and networks (RR 0.40, 95% CI 0.15 to 1.05). There was statistically significant heterogeneity between the studies (I² = 75%, Chi² = 8.00 df = 2, P = 0.02) for the analysis adjusted for cycle flow. We judged the quality of the evidence regarding cycle routes and networks as very low and we are very uncertain about the estimate. These analyses are based on findings from CBA studies.From data presented narratively, the use of 20 mph speed restrictions in urban areas may be effective at reducing cyclist collisions. Redesigning specific parts of cycle routes that may be particularly busy or complex in terms of traffic movement may be beneficial to cyclists in terms of

  11. The hotel enterprise: a business system of project business on the tourism business market

    OpenAIRE

    Berc Radisic, Branka; Basan, Lorena

    2007-01-01

    As a business system, an enterprise represents a complex, dynamic, stochastic, open and organisational system. Certain specific features of a hotel enterprise as a business system of project business result from the activity it performs and from project-based business and development management. As an enterprise based on project business, its distinguishing features include the interconnectedness of business subsystems and the overlapping a hotel enterprise’s business function.

  12. Independent assessment of forseeable problems in the nuclear fuel cycle

    International Nuclear Information System (INIS)

    1975-01-01

    Information is presented concerning the U. S. nuclear fuel cycle business including investment requirements; nuclear power growth projection; reliability of uranium supply; enrichment facilities; plutonium recycle; safeguards; and insurance

  13. Challenge to establishment of nuclear fuel cycle

    International Nuclear Information System (INIS)

    Nakajima, Ichiro

    2000-01-01

    Japan Nuclear Cycle Development Inst. (JNC) has promoted some efforts on introduction of business management cycle system integrated on safety security and business management, planning a safety conservation system with effectiveness concept on risk, and their practice steadily and faithfully. Here were described on some characteristic items on effort of safety promotion since establishment of JNC. And, here were also introduced on outlines of some research actions, at a center of research and development on a high breeding reactor and its relating cycle technology carried out at present by JNC under aiming at establishment of the nuclear fuel recycling, that is to say the nuclear fuel cycle, in Japan to upgrade the nuclear security more and more. (G.K.)

  14. Gendered Discourse about Family Business

    Science.gov (United States)

    Danes, Sharon M.; Haberman, Heather R.; McTavish, Donald

    2005-01-01

    Language patterns of family business owners were explored by identifying discourse styles and emphasized ideas in four presenting contexts: business, family, intersection of family and business, and business success. The content analysis supports the existence of a general discourse style within family businesses and of similarities and…

  15. Modern Organization of Entrepreneurial Business

    OpenAIRE

    Liudmila Rosca-Sadurschi

    2013-01-01

    This article gives the notion of "entrepreneurial business" and is compared to "business inovations". It analyzes the advantages of these two notions. Modern methods are presented and analyzed to develop an innovative business through reengineering, incubators, business centers, clusters and others. It is also considered the experience of the Danube in practicing these organizational arrangements to develop business.

  16. Publishing: The Creative Business.

    Science.gov (United States)

    Bohne, Harald; Van Ierssel, Harry

    This book offers guidelines to emerging and would-be publishers, whether they plan to enter publishing as a career, a sideline, or a diversion. It stresses the business aspects of publishing and emphasizes the major housekeeping functions encountered in the business, except methods of sales and distribution. Contents include "The Mechanics of…

  17. Census Business Builder (CBB)

    Science.gov (United States)

    Employment and Payroll Survey of Business Owners Work from Home Our statistics highlight trends in household statistics from multiple surveys. Data Tools & Apps Main American FactFinder Census Business Builder My Classification Codes (i.e., NAICS) Economic Census Economic Indicators Economic Studies Industry Statistics

  18. Understanding Business Analytics

    Science.gov (United States)

    2015-01-05

    analytics have been used in organizations for a variety of reasons for quite some time; ranging from the simple (generating and understanding business analytics...process. understanding business analytics 3 How well these two components are orchestrated will determine the level of success an organization has in

  19. Matchmaking for business processes

    NARCIS (Netherlands)

    Wombacher, Andreas; Fankhauser, Peter; Mahleko, Bendick; Neuhold, Erich

    2003-01-01

    Web services have a potential to enhance B2B ecommerce over the Internet by allowing companies and organizations to publish their business processes on service directories where potential trading partners can find them. This can give rise to new business paradigms based on ad-hoc trading relations

  20. Business Communication in BELF

    Science.gov (United States)

    Kankaanranta, Anne; Louhiala-Salminen, Leena

    2007-01-01

    The authors' business communication perspective is not in fact that of ESL but rather English as a foreign language (EFL) or, even more so, English as a lingua franca (ELF). To be more specific, they would like to add one more acronym to the list: They teach BELF, by which they refer to ELF for business communication purposes. The authors work as…