WorldWideScience

Sample records for business cycles

  1. Real business cycle realizations

    OpenAIRE

    Smith, Gregor W.; Stanley E. Zin

    1997-01-01

    Much recent business cycle research focuses on moments of macroeconomic aggregates. We construct examples of real business cycle sample paths for output, consumption, and employment for the U.S. economy. Annual sample paths are generated from an initial condition in 1925, measured technology and government spending shocks since then, and a standard, calibrated, one-sector model of the business cycle. Quarterly sample paths are generated similarly, from an initial condition in 1955. The law of...

  2. Resuscitating Real Business Cycles

    OpenAIRE

    Robert G. King; Sergio T. Rebelo

    2000-01-01

    The Real Business Cycle (RBC) research program has grown spectacularly over the last decade, as its concepts and methods have diffused into mainstream macroeconomics. Yet, there is increasing skepticism that technology shocks are a major source of business fluctuations. This chapter exposits the basic RBC model and shows that it requires large technology shocks to produce realistic business cycles. While Solow residuals are sufficiently volatile, these imply frequent technological regress. Pr...

  3. 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...

  4. 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...

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

    OpenAIRE

    Otsu, Keisuke

    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...

  6. International Business Cycle

    Directory of Open Access Journals (Sweden)

    Marek Lubiński

    2007-06-01

    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.

  7. Entrepreneurship and the business cycle

    OpenAIRE

    Thurik, Roy

    2014-01-01

    Entrepreneurship has a cyclical component, raising two questions. Is the entrepreneurship cycle related to the business cycle? And is there causality? A two-way relationship between entrepreneurship and the business cycle would be in line with the two faces of entrepreneurs: as agents of change creating upswings (opportunity entrepreneurship) and as rational actors escaping unemployment by setting up a business (necessity entrepreneurship). Nascent entrepreneurship can indeed be precyclical, ...

  8. No News in Business Cycles

    OpenAIRE

    Forni, Mario; Gambetti, Luca; Sala, Luca

    2011-01-01

    This paper uses a structural, large dimensional factor model to evaluate the role of 'news' shocks (shocks with a delayed effect on productivity) in generating the business cycle. We find that (i) existing small-scale VECM models are affected by 'non-fundamentalness' and therefore fail to recover the correct shock and impulse response functions; (ii) news shocks have a limited role in explaining the business cycle; (iii) their effects are in line with what predicted by standard neoclassical t...

  9. Business Cycle Theory and Econometrics

    OpenAIRE

    Allan W. Gregory; 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...

  10. Animal spirits and business cycles

    OpenAIRE

    Bidder, Rhys

    2015-01-01

    Animal spirits are often suggested as a cause of business cycles, but they are very difficult to define. Recent research proposes a novel explanation based on the changing level of risk over time and people’s uncertainty about how the world works. The interaction of these two can lead to significant business cycle fluctuations in response to spikes in volatility. This finding gives researchers an alternative to irrational behavior as an explanation for why swings in consumer sentiment appear ...

  11. 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 investmen

  12. 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...... as a stepping-stone in the process of designing appropriate stabilization policy and macroeconomic management in developing countries....

  13. Concordance in Business Cycles

    OpenAIRE

    C. John McDermott; Alasdair Scott

    2000-01-01

    We study the properties of a test that determines whether two time series comove. The test computes a simple nonparametric statistic for “concordance,” which describes the proportion of time that the cycles of two series spend in the same phase. We establish the size and power properties of this test. As an illustration, the procedures are applied to output series from selected major industrial countries. We find limited evidence of widespread concordance for these countries.

  14. 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...

  15. THE CANADIAN POLITICAL BUSINESS CYCLE

    Directory of Open Access Journals (Sweden)

    Barbara Libby

    2000-01-01

    Full Text Available This paper will discuss the existence of a Canadian Political Business Cycle (PBC during the period 1946-1989. Logit analysis was used to determine if changes in the unemployment rate, growth of real GNE and the rate of inflation are significantly different in the period before an election than during the rest of the electoral term. It was found that the rate of growth in the unemployment rate declines and the rate of growth of real GNP increases in the four quarters before an election. The behavior of these variables reverses in the period after an election. These findings are consistent with a political business cycle. Policy variables, under a majority government, also behave in a manner associated with a PBC, with the government stimulating the economy approximately two years into its term so that good economic news will occur before it has to call an election. Minority governments tend to simulate the economy immediately after taking office.

  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 earli...... empirical evidence. Estimates of factor models suggest that common Scandinavian shocks are important for these three countries. At the same time we find evidence suggesting that the importance of these shocks does not depend on the monetary regime.......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. 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...

  18. Entrepreneurship and the Business Cycle

    OpenAIRE

    KOELLINGER, Philipp; Thurik, Roy

    2009-01-01

    This discussion paper resulted in a publication in 'The Review of Economics and Statistics' (2012). Volume 94, issue 4, pages 1143-1156. We study the cyclical pattern of entrepreneurial activity. Results across 22 OECD countries for the period 1972-2007 show that entrepreneurial activity is a leading indicator of the business cycle in a Granger-causality sense. This contradicts existing theoretical hypotheses which predict that entrepreneurship is pro-cyclical or not cyclical. We discuss poss...

  19. Immigration, remittances, and business cycles

    OpenAIRE

    Federico S. Mandelman; Zlate, Andrei

    2010-01-01

    We use data on border enforcement and macroeconomic indicators from the United States and Mexico to estimate a two-country business cycle model of labor migration and remittances. The model matches the cyclical dynamics of labor migration to the United States and documents how remittances to Mexico serve an insurance role to smooth consumption across the border. During expansions in the destination economy, immigration increases with the expected stream of future wage gains, but it is dampene...

  20. Sickness Absence and Business Cycles

    OpenAIRE

    Jan Erik Askildsen; Espen Bratberg; Oivind Anti Nilsen

    2000-01-01

    Absenteeism is affected by the sickness benefit system. Countries with generous compensation during sick leaves also experience high numbers of sick leave. Sick leaves may vary over the business cycle due to unemployment disciplining effects or changes in labour force composition. The latter hypothesis maintains that sickness may be pro-cyclical due to employment of `marginal' workers with poorer health when demand increases. Using individual records of labour force participants in Norway, we...

  1. Business Fixed Investment and the Recent Business Cycle in Japan

    OpenAIRE

    Nobuhiro Kiyotaki; Kenneth D. West

    1996-01-01

    To analyze business fixed investment in Japan, which has been unusually volatile in recent years, we develop and apply a loglinear flexible accelerator model. We find that movements in business fixed investment are consistent with movements in output and the tax- adjusted cost of capital, both on average during our entire 1961-94 sample and during the recent 1986-94 business cycle.

  2. The Frequency Analysis of the Business Cycle

    OpenAIRE

    Prof D.S.G. Pollock

    2008-01-01

    An account is given of some techniques of linear filtering that can be used for extracting the business cycle from economic data sequences of limited duration. It is argued that there can be no definitive definition of the business cycle. Both the definition of the business cycle and the methods that are used to extract it must be adapted to the purposes of the analysis; and different definitions may be appropriate to different eras.

  3. Business cycles in oil economies

    Energy Technology Data Exchange (ETDEWEB)

    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.

  4. 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 (...

  5. The business cycle and the life cycle

    OpenAIRE

    Paul Gomme; Richard Rogerson; Peter Rupert; Randall Wright

    2004-01-01

    The paper documents how cyclical fluctuations in market work vary over the life cycle and then assesses the predictions of a life-cycle version of the growth model for those observations. The analysis yields a simple but striking finding. The main discrepancy between the model and that data lies in the inability of the model to account for fluctuations in hours for individuals in the first half of their life cycle. The predictions for those in the latter half of the life cycle are quite close...

  6. BUSINESS CYCLE SYNCHRONIZATION IN THE EURO AREA

    Directory of Open Access Journals (Sweden)

    Ioana Laura Văleanu

    2012-09-01

    Full Text Available Business cycle synchronization represents a condition for the successful implementation of the common monetary policy within the Economic and Monetary Union. There is a tight relation between business cycle synchronization and the economic convergence of the Member States of the Monetary Union. Investigating the specialized literature, this study analyses below the factors which influence the synchronization of the economic fluctuations of the economies in the Euro area. A second objective of this study is represented by the pointing out of the evolution of the synchronization process of the business cycle after the adoption of the euro, in the euro area countries by reference to the empiric evidence. The hypothesis of the study states that the introduction of the unique currency in 1999 resulted into the increase of the synchronization degree of the business cycle.

  7. Industry Dynamics, Investment and Business Cycles

    OpenAIRE

    Julieta Caunedo

    2013-01-01

    This paper investigates how features of the business cycle interact with technological restrictions at the firm level to generate dispersion in marginal products of ex ante identical firms. The model is able to deliver a non-monotonic relationship between dispersion in marginal products, aggregate productivity and the features of the business cycle. When aggregate uncertainty is low and dispersion in marginal products is low, aggregate productivity is high. But when aggregate uncertainty is h...

  8. Price discrimination and business-cycle risk

    OpenAIRE

    Cornia, Marco; Gerardi, Kristopher S.; Shapiro, Adam Hale

    2011-01-01

    A parsimonious theoretical model of second degree price discrimination suggests that the business cycle will affect the degree to which firms are able to price-discriminate between different consumer types. We analyze price dispersion in the airline industry to assess how price discrimination can expose airlines to aggregate-demand fluctuations. Performing a panel analysis on seventeen years of data covering two business cycles, we find that price dispersion is highly procyclical. Estimates s...

  9. International Business Cycle: Does Trade Matter?

    OpenAIRE

    L. Picci

    1995-01-01

    This paper addresses the question of whether trade interdependencies are significant in explaining the international synchronization of business cycles, or "international business cycles". Using an econometric framework that combines the concept of separate cointegration (Granger an Konishi, 1992) with that of common feature analysis (Engle and Kozicki, 1993; Vahid and Engle, 1993), we are able to formulate meaningful ways of characterizing the links between trade flow dynamics and internatio...

  10. Expectations, Learning, and Business Cycle Fluctuations

    OpenAIRE

    Stefano Eusepi; Bruce Preston

    2011-01-01

    This paper develops a theory of expectations-driven business cycles based on learning. Agents have incomplete knowledge about how market prices are determined and shifts in expectations of future prices affect dynamics. In a real business cycle model, the theoretical framework amplifies and propagates technology shocks. Improved correspondence with data arises from dynamics in beliefs being themselves persistent and because they generate strong intertemporal substitution effects in consumptio...

  11. 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 accou......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...

  12. An essay upon the business cycle facts: the Turkish case

    OpenAIRE

    Levent, Korap

    2006-01-01

    In our paper, we try to investigate the main determinants of the Turkish business cycles. Having examined some important issues of interest in business cycle theory, we estimate the business cycle stylized facts for the Turkish economy and compare the estimation results obtained in this paper to some benchmark papers chosen in business cycle literature. All in all, our estimation results give support to the importance of supply side models in explaining the Turkish business cycles in line wit...

  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. New Approaches in Business Cycle Research: The Application of Business Cycle Indicators

    OpenAIRE

    Karl Heinrich Oppenländer

    2004-01-01

    The question arises whether there can be an enrichment of business cycle research when business cycle indicators will be used in an increasing dimension. This article, dedicated to Professor Adolf Wagner, tries to differentiate three fields of research: Hypothesis formation in theory, characterisation of market imbalances and measurement of cycle and trend in empirical methods, short-term prognoses and turning point analyses in forecasting. Can we establish new hypotheses by considering expec...

  15. 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

  16. Business cycle fluctuations and consumption behaviour

    NARCIS (Netherlands)

    B. van den Bergh (Bram)

    2013-01-01

    textabstractNew studies of business cycles and consumption tendencies reveal interesting and sometimes unexpected insights into consumption patterns. It appears that, while purchasing behaviour is obviously influenced by the overall economic environment, it is not merely a matter of more consumption

  17. Modelling Multiple Regimes in the Business Cycle

    NARCIS (Netherlands)

    D.J.C. van Dijk (Dick); Ph.H.B.F. Franses (Philip Hans)

    1997-01-01

    textabstractThe interest in business cycle asymmetry has been steadily increasing over the last fifteen years. Most research has focused on the different behaviour of macroeconomic variables during expansions and contractions, which by now is well documented. Recent evidence suggests that such a two

  18. 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...

  19. 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.

  20. 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 cyc

  1. Adverse selection, risk sharing and business cycles

    OpenAIRE

    Veracierto, Marcelo

    2014-01-01

    I consider a real business cycle model in which agents have private information about an idiosyncratic shock to their value of leisure. I consider the mechanism design problem for this economy and describe a computational method to solve it. This is an important contribution of the paper since the method could be used to solve a wide class of models with heterogeneous agents and aggregate uncertainty. Calibrating the model to U.S. data I find a striking result: That the information frictions ...

  2. Real Business Cycles: A New Keynesian Perspective

    OpenAIRE

    N. Gregory Mankiw

    1989-01-01

    This paper is a critique of the latest new classical theory of economic fluctuations. According to this theory, the business cycle is the natural and efficient response of the economy to exogenous changes in the available production technology. This paper discusses several versions of this theory and argues that this line of research is unlikely to yield an empirically plausible explanation of observed economic fluctuations.

  3. Domestic Violence over the Business Cycle

    OpenAIRE

    Gerard van den Berg; Michele Tertilt

    2012-01-01

    In this paper we estimate the effects of the business cycle on the occurrence of domestic violence. For the victims, domestic violence is among the most traumatic events conceivable. Victims (typically, children and female spouses) are often tied to the perpetrator in a relationship of economic and emotional dependence. The current recession has hit men aged 18-65, who are the usual perpetrators, especially hard. Effects of job loss and economic hardship and deprivation on domestic violence m...

  4. Exchange Rate Regimes and International Business Cycles

    OpenAIRE

    Theptida Sopraseuth

    2003-01-01

    This paper investigates the impact of exchange rate regimes on international business cycles and focuses on the consequences of membership to the European Monetary System. The volatility puzzle uncovered by Baxter and Stockman [1989, Journal of Monetary Economics 23, 377–401] after assessing the consequences of the Bretton Woods system turns out to be a robust stylized fact: real and nominal exchange rates display a higher volatility under floating rates while the variability of macroeconom...

  5. Global Banking and International Business Cycles

    OpenAIRE

    Kollmann, Robert; Enders, Zeno; Müller, Gernot J.

    2010-01-01

    This paper incorporates a global bank into a two-country business-cycle model. The bank collects deposits from households and makes loans to entrepreneurs, in both countries. It has to finance a fraction of loans using equity. We investigate how such a bank capital requirement affects the international transmission of productivity and loan default shocks. Three findings emerge. First, the bank's capital requirement has little effect on the international transmission of productivity shocks. Se...

  6. Incorporating the knowledge management cycle in e-business

    OpenAIRE

    O, Ying-Lie; 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 support and advanced support of the e-knowledge management cycle. Knowledge is stored as knowledge models that can be updated in the e-knowledge management cycle. As illustrated in examples, the e-...

  7. Regional business cycle synchronization through expectations

    Science.gov (United States)

    Onozaki, Tamotsu; Yanagita, Tatsuo; Kaizoji, Taisei; Toyabe, Kazutaka

    2007-09-01

    This paper provides an example in which regional business cycles may synchronize via producers’ expectations, even though there is no interregional trade, by means of a system of globally coupled, noninvertible maps. We concentrate on the dependence of the dynamics on a parameter η which denotes the inverse of price elasticity of demand. Simulation results show that several phases (the short transient, the complete asynchronous, the long transient and the intermediate transient) appear one after another as η increases. In the long transient phase, the intermittent clustering process with a long chaotic transient appears repeatedly.

  8. Common Shocks, Common Dynamics, and the International Business Cycle.

    OpenAIRE

    Centoni, Marco; Cubadda, Gianluca; Hecq, Alain

    2007-01-01

    This paper develops an econometric framework to understand whether co-movements observed in the international business cycle are the consequences of common shocks or common transmission mechanisms. Then we propose a new statistical measure of the importance of domestic and foreign shocks over the national business cycle. We show how to decompose the business cycle effects of permanent-transitory shocks into those due to their domestic and foreign components. We apply our analys...

  9. Real Business-cycle Model with Habits

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    2015-01-01

    but more persistent habit in consumption. Intratemporal nonseparabilities in consumption and leisure play an important role in driving the response of real variables to a productivity shock. Adding capital adjustment costs to the model with nonseparabilities in consumption and leisure and external habits...... both in consumption and leisure changes the responses of real variables to a productivity shock, however, in a way similar to that documented for the models with capital adjustment costs and habit formation in consumption. The estimated persistence of the productivity shock is quite modest, which may......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...

  10. 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.

  11. 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)

  12. 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

  13. 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 usin

  14. 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.

  15. Research on Business Models in their Life Cycle

    OpenAIRE

    Adam Jabłoński; Marek Jabłoński

    2016-01-01

    The paper presents the results of theoretical discussions and research findings in the field of designing sustainable business models that support the creation of value at various stages of the business life cycle. The paper presents selected findings of extensive research into the business models of Polish companies listed on the Warsaw Stock Exchange. Companies which are at various stages of development should build and adapt their business models in order to maintain the ability to create ...

  16. 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...

  17. 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.

  18. Euro Area business cycles in turbulent times: convergence or decoupling?

    OpenAIRE

    Ferroni, F.; Klaus, B.

    2014-01-01

    We study the business cycle properties of the four largest euro area economies in the wake of the recent recession episodes. The analysis is based on the factors estimated from a multi-country and multi-sector data-rich environment. We measure alikeness of business cycles by studying the synchronization of up and down phases, the convergence properties of country fluctuations towards the euro area cycles and the contribution of the euro area factor to national GDP volatilities. While the econ...

  19. Austrian Business Cycle Theory: Did Iceland go through an Austrian Business Cycle?

    OpenAIRE

    Ragnar Haukur Ragnarsson 1978

    2012-01-01

    The question this research tries to answer is if an artificial credit expansion caused the Icelandic economy to go into an Austrian style business cycle in the first decade of this century. To answer that question data from the Statistic of Iceland and the Central Bank of Iceland will be studied. The period that will be looked at is the years from 2001 until 2010. The framework that is used is taken from Jesús Huerta de Soto´s book “Money, Bank Credit, and Economic Cycles”, in that book d...

  20. A fractal comparison of real and Austrian business cycle models

    Science.gov (United States)

    Mulligan, Robert F.

    2010-06-01

    Rescaled range and power spectral density analysis are applied to examine a diverse set of macromonetary data for fractal character and stochastic dependence. Fractal statistics are used to evaluate two competing models of the business cycle, Austrian business cycle theory and real business cycle theory. Strong evidence is found for antipersistent stochastic dependence in transactions money (M1) and components of the monetary aggregates most directly concerned with transactions, which suggests an activist monetary policy. Savings assets exhibit persistent long memory, as do those monetary aggregates which include savings assets, such as savings money (M2), M2 minus small time deposits, and money of zero maturity (MZM). Virtually all measures of economic activity display antipersistence, and this finding is invariant to whether the measures are adjusted for inflation, including real gross domestic product, real consumption expenditures, real fixed private investment, and labor productivity. This strongly disconfirms real business cycle theory.

  1. Cross Border Business Cycle (Impacts on Commercial Electricity Demand

    OpenAIRE

    Thomas M Fullerton Jr

    2004-01-01

    Border region electric utility service loads are impacted by national, regional, and international business cycles. To examine whether the cross-border components of these interactions can be reliably assessed, transfer ARIMA models are estimated for three business rate categories in El Paso, Texas. Chi-square goodness-of-fit results indicate tht exclusion of the international variables would worsen model performance.

  2. Oil Price Dynamics in a Real Business Cycle Model

    OpenAIRE

    Vipin Arora; Pedro Gomis-Porqueras

    2011-01-01

    We show the importance of endogenous oil prices and production in the real business cycle framework. Endogenising these variables improves the model’s predictions of business cycle statistics, oil related and non-oil related, relative to a situation where either is exogenous. This result is robust to the standard extensions (variable capacity utilisation and monopolistic competition) used in the literature. In particular, we first show that with either exogenous oil prices or production the s...

  3. Financial intermediation, investment dynamics and business cycle fluctuations

    OpenAIRE

    Ajello, Andrea

    2010-01-01

    How important are financial friction shocks in business cycles fluctuations? To answer this question, I use micro data to quantify key features of US financial markets. I then construct a dynamic equilibrium model that is consistent with these features and fit the model to business cycle data using Bayesian methods. In my micro data analysis, I establish facts that may be of independent interest. For example, I find that a substantial 33% of firm investment is funded using financial markets. ...

  4. Econometric Studies of Business Cycles in the History of Econometrics

    OpenAIRE

    Qin, Duo

    2010-01-01

    This study examines the evolution of econometric research in business cycle analysis during the 1960-90 period. It shows how the research was dominated by an assimilation of the tradition of NBER business cycle analysis by the Haavelmo-Cowles Commission approach, catalysed by time-series statistical methods. Methodological consequences of the assimilation are critically evaluated in light of the meagre achievement of the research in predicting the current global recession.

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

    OpenAIRE

    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 compares these methods for the euro area. The results suggest that a reliable indicator can be constructed from a limited number of series that are selected using economic logic.

  6. Trade, Production Sharing and the International Transmission of Business Cycles

    OpenAIRE

    Ariel Burstein; Christopher Kurz; Linda Tesar

    2005-01-01

    Countries that are more engaged in production sharing exhibit higher bilateral manufacturing output correlations. We use data on trade flows between US multinationals and their affiliates as well as trade between the United States and Mexican maquiladoras to measure production-sharing trade and its link with the business cycle. We then develop a quantitative model of international business cycles that generates a positive link between the extent of vertically integrated production-sharing tra...

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

    OpenAIRE

    Kose, M. Ayhan; Prasad, Eswar; Marco E. 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...

  8. Trade and Business Cycle Correlations in Asia-Pacific

    OpenAIRE

    Kumakura, Masanaga; 熊倉, 正修

    2005-01-01

    Recent empirical studies challenge the traditional theory of optimum currency areas by arguing that a monetary union enhances trade and business cycle co-movements among its member countries sufficiently as to obviate the need for national monetary policy. This paper examines the empirical relationship between trade and business cycle correlations among thirteen Asia-Pacific countries, paying particular attention to the structural characteristics of their economies and other issues not explor...

  9. 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...

  10. Self-employment and the local business cycle

    OpenAIRE

    Svaleryd, Helena

    2013-01-01

    The business cycle is likely to be of importance for self-employment rates. When the economy is growing, business opportunities open up and encourage the set-up of new firms. In downturns self-employment may be a way to avoid unemployment. The strength of these pull and push factors may depend on the amount of human capital a person has. The findings in this paper show that although the local business cycle is of minor importance for total self-employment rates in Sweden there are heterogeneo...

  11. Good times, bad times: entrepreneurship and the business cycle

    OpenAIRE

    Sanchis Llopis, JA; Millán, JM; Baptista, R.; Burke, A; Parker, SC; Thurik, R

    2015-01-01

    This article introduces the special issue on Entrepreneurship and the Business Cycle, comprising articles presented at the workshop Good Times Bad Times: Entrepreneurship and the Cycle, held at the University of Valencia in November 2011. The workshop was organized to share insights about the under-researched issue of the interplay between entrepreneurship and cyclical dimensions of entrepreneurship.

  12. 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.

  13. Testing the Power of Leading Indicators to Predict Business Cycle Phase Changes

    OpenAIRE

    Allan Layton; Smith, Daniel R.

    2005-01-01

    In the business cycle literature researchers often want to determine the extent to which models of the business cycle reproduce broad characteristics of the real world business cycle they purport to represent. Of considerable interest is whether a model’s implied cycle chronology is consistent with the actual business cycle chronology. In the US, a very widely accepted business cycle chronology is that compiled by the National Bureau of Economic research (NBER) and the vast majority of US bus...

  14. Research on Business Models in their Life Cycle

    Directory of Open Access Journals (Sweden)

    Adam Jabłoński

    2016-04-01

    Full Text Available The paper presents the results of theoretical discussions and research findings in the field of designing sustainable business models that support the creation of value at various stages of the business life cycle. The paper presents selected findings of extensive research into the business models of Polish companies listed on the Warsaw Stock Exchange. Companies which are at various stages of development should build and adapt their business models in order to maintain the ability to create value for stakeholders. Characteristics of business models at the early stages of development are different than at mature stages. The paper highlights the differences in business models in the context of the life cycle of companies and sustainability criteria. The paper presents research findings which show that the company’s development can be seen from the point of view of the business model. Research on business models concentrated on identifying the key attributes and the configuration of the business models appropriate for the early stage of development as well as the maturity stage. It was found that the business models of companies at an early stage of the development of companies listed on the Warsaw Stock Exchange are oriented primarily to how the company shapes, delivers, and captures value from the market in order to generate profits for shareholders and increase the value of the company, while the business models of mature companies include the intentions of management used to balance objectives with respect to different groups of stakeholders, and to carefully formulate and implement business objectives with particular attention paid to preserving the sustainability of the business. The assessment of business models from the point of view of the life cycle proves that managers change their approach to configuring business models over time; at some point, they include management intentions aimed at a broader range of goals than merely

  15. The physics of business cycles and inflation

    OpenAIRE

    Hans G. Danielmeyer; Thomas Martinetz

    2012-01-01

    We analyse four consecutive cycles observed in the USA for employment and inflation. They are driven by three oil price shocks and an intended interest rate shock. Non-linear coupling between the rate equations for consumer products as prey and consumers as predators provides the required instability, but its natural damping is too high for spontaneous cycles. Extending the Lotka-Volterra equations with a small term for collective anticipation yields a second analytic solution without damping...

  16. The exposure of technology and knowledge intense sectors to the business cycle

    OpenAIRE

    Werner Hölzl; Serguei Kaniovski; Andreas Reinstaller

    2015-01-01

    This paper studies the business cycle sensitivity of industries using different industry groupings. The results show that technologically intense industries are heavily affected by business cycles. While the overall importance of business cycles for long-run growth seems to be rather limited, we observe for industries with high technology intensity that business cycles may have persistent long-run effects on sectoral performance.

  17. 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.

    2008-01-01

    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 di

  18. Business cycles and natural gas prices

    Energy Technology Data Exchange (ETDEWEB)

    Apostolos, S.; Asghar, S. [University of Calgary, Alberta (Canada). Department of Economics

    2005-03-01

    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)

  19. Turning Points: Business Cycles in Canada Since 1926

    OpenAIRE

    Philip Cross; Philippe Bergevin

    2012-01-01

    Market-based economies tend to exhibit cyclical behaviour. The recent financial crisis, with devastating impacts that are still being felt today, has added urgency to the drive to improve our understanding of business cycles. Pinpointing key turning points in the economy, meaning when recession takes hold or growth resumes, is vital for policymakers, businesses and consumers alike. In this paper, the authors clarify how best to define a recession and measure its severity. And, to create a fou...

  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. Inventories, Fluctuations and Business Cycles. Working paper #4

    OpenAIRE

    Maccini, Louis J.; Adrian Pagan

    2006-01-01

    The paper looks at the role of inventories in U.S. business cycles and fluctuations. It concentrates upon the goods producing sector and constructs a model that features both input and output inventories. A range of shocks are present in the model, including sales, technology and inventory cost shocks. It is found that the presence of inventories does not change the average business cycle characteristics in the U.S. very much. The model is also used to examine whether new techniques for inven...

  2. The Austrian Business Cycle Theory: Validity and Implications

    OpenAIRE

    2009-01-01

    In this thesis the Austrian business cycle theory is analyzed. Based on the work of Eugen von Böhm-Bawerk (1959[1889]), Knut Wicksell (1962[1898]) and Ludwig von Mises (1953[1912]), the theory was further developed and made famous by Friedrich von Hayek in the 1930s. Arguably, Hayek was the main rival of Keynes during this decade, but after heavy criticism and the publication of the General Theory (Keynes, 1936), the Austrian business cycle theory was left with few advocates by the end of Wor...

  3. 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.

  4. Payroll Taxes, Social Insurance and Business Cycles

    OpenAIRE

    Burda, Michael C.; Weder, Mark

    2010-01-01

    Payroll taxes represent a major distortionary influence of governments on labor markets. This paper examines the role of payroll taxation and the social safety net for cyclical fluctuations in a nonmonetary economy with labor market frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance budget renders gross wages more rigid over the cycle and, as a result, strengthens the model’s endogenous propagation mechanism. For con...

  5. Business Cycles in Emerging Economies: the role of interest rates

    OpenAIRE

    Pablo A. Neumeyer; Fabrizio Perri

    1999-01-01

    We find that in a sample of emerging economies business cycles are more volatile than in developed ones, real interest rates are countercyclical and lead the cycle, consumption is more volatile than output and net exports are strongly countercyclical. We present a model of a small open economy, where the real interest rate is decomposed in an international rate and a country risk component. Country risk is affected by fundamental shocks but, through the presence of working capital, also ampli...

  6. Business cycle fluctuations and excess sensitivity of private consumption

    OpenAIRE

    Gert Peersman; Lorenzo Pozzi

    2007-01-01

    We investigate whether business cycle fluctuations affect the degree of excess sensitivity of private consumption growth to disposable income growth. Using multivariate state space methods and quarterly US data for the period 1965-2000 we find that excess sensitivity is significantly higher during recessions.

  7. 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 1

  8. 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.…

  9. 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.

  10. 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…

  11. Informational Asymmetries and the International Transmission of Business Cycles

    Directory of Open Access Journals (Sweden)

    Patricio Mujica

    1988-03-01

    Full Text Available Informational Asymmetries and the International Transmission of Business Cycles Several recent papers have analyzed the international transmission of economic disturbances in a context in which all goods are traded. Additionaly, those papers assume alternatively full contemporaneous infomation on financial variables is not available at all. A key feature of the model is that agent in each country observe all those variables directly linked with the markets in wich they usuallyy trade but they do not have access to the infomation provided by the market for nontraded goods in the foreign countrv. Therefore. the introduction of nontreded goods provides a natural settings for assuming an asymmetry in the information set available to agents across countries. It is shown that this asymmetry is crucial for the existence of real effects associated with monetary shocks and also for the nature of the international transmission  of business cycles across countries.

  12. Dynamics of the driven Goodwin business cycle equation

    Science.gov (United States)

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

    2015-10-01

    We study dynamics of the Goodwin nonlinear accelerator business cycle model with periodic forced autonomous investment Ia(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 acr (ω): if a > acr (ω) the period of the income equals to the driving period T=2π/ω.

  13. Small sample properties of GMM for business cycle analysis

    OpenAIRE

    Lawrence J. Christiano; Wouter Den Haan

    1995-01-01

    We investigate, by Monte Carlo methods, the finite sample properties of GMM procedures for conducting inference about statistics that are of interest in the business cycle literature. These statistics include the second moments of data filtered using the first difference and Hodrick-Prescott filters, and they include statistics for evaluating model fit. Our results indicate that, for the procedures considered, the existing asymptotic theory is not a good guide in a sample the size of quarterl...

  14. Trade Volatility, Business Cycle Synchronization, and Inventory Dynamics

    OpenAIRE

    Virgiliu Midrigan; Joseph Kaboski; George Alessandria

    2011-01-01

    We study the role of inventories for the volatility of international trade and the propagation of business cycles. We build a model of international trade in which intermediaries have a precautionary motive to hold inventories. With either productivity or demand shocks, we find inventories increase the volatility of international trade whenever traded goods have relatively high inventory holdings. Moreover, net exports are now more strongly countercyclical and appear in line with the data. We...

  15. Individuals' Unemployment Experiences: Heterogeneity and Business Cycle Effects

    OpenAIRE

    Kalwij, Adriaan S.

    2001-01-01

    This study examines individuals? unemployment experiences from the age of 18 up to the age of 35 using a large panel of administrative records on unemployment related benefit claims of men in the United Kingdom over the past two decades. The main focus is on the extent to which individuals? unemployment experiences are affected by regional and skill differences, i.e. individual heterogeneity, and the business cycle. In particular this study analyses the extent to which repeated unemployment i...

  16. Nominal stylized facts of U. S. business cycles

    OpenAIRE

    Apostolos Serletis; David Krause

    1996-01-01

    The authors investigate the basic nominal stylized facts of business cycles in the United States, using monthly data from 1960:1 to 1993:4 and the methodology suggested by Kydland and Prescott (1990). They make comparisons among simple sum and Divisia aggregates, using the Thornton and Yue (1992) series of Divisia monetary aggregates, and they investigate the robustness of the results to relevant nonstochastic stationarity-inducing transformations.

  17. Imperfect Competition, Nominal Wage Contracts and the Business Cycle

    OpenAIRE

    Zuzana Janko

    2008-01-01

    We introduce nominal wage contracts into a competitive and a noncompetitive labor market structure. We find these models to have similar business cycle properties, but we argue that the imperfectly competitive market structure is more appropriate for nominal wage contract analyzes. We introduce imperfect competition to the labor market by assuming that households have market power and consequently choose nominal wage contracts as part of their maximization problem, while in a competitive stru...

  18. THE NEW CLASSICAL THEORY AND THE REAL BUSINESS CYCLE MODEL

    OpenAIRE

    Oana Simona HUDEA (CARAMAN); Sorin George TOMA; Marin BURCEA

    2014-01-01

    The present paper aims at describing some key elements of the new classical theory-related model, namely the Real Business Cycle, mainly describing the economy from the perspective of a perfectly competitive market, characterised by price, wage and interest rate flexibility. The rendered impulse-response functions, that help us in revealing the capacity of the model variables to return to their steady state under the impact of a structural shock, be it technology or monetary policy oriented, ...

  19. The dynamics of entrepreneurship: hysteresis, business cycles and government policy

    OpenAIRE

    Congregado, Emilio; Golpe, Antonio A.; Parker, Simon C.

    2009-01-01

    This paper estimates an unobserved components model to explore the macro dynamics of entrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical fluctuations have persistent effects on the natural rate of entrepreneurship. We find evidence of hysteresis in Spain, but not the US, while in both countries business cycle output variations significantly affect future rates of entrepreneurship. The article discuss...

  20. A Business Cycle Analysis of Debt and Equity Financing

    OpenAIRE

    Karabarbounis , Marios; Macnamara, Patrick; McCord, Roisin

    2014-01-01

    This article provides an introductory, yet comprehensive, business cycle analysis of firm financing. Using data from Compustat, we find that debt issuance is procyclical while the net sale of stock is countercyclical. However, an equity financing measure that includes stock compensation and especially mergers turns out to be weakly procyclical. Nevertheless, there is widespread heterogeneity in firm financing. Compared to large firms, the equity issuance of small firms tends to be more procyc...

  1. STABILIZING THE AUSTRALIAN BUSINESS CYCLE: GOOD LUCK OR GOOD POLICY?

    OpenAIRE

    Philip Liu

    2007-01-01

    This paper examines the sources of Australia's business cycle fluctuations focusing on the role of international shocks and short run stabilization policy. A VAR model identified using robust sign restrictions derived from an estimated structural model is used to aid the investigation. The results indicate that, in contrast to previous VAR studies, foreign factors contribute over half of domestic output forecast errors whereas innovation from output itself has little effect. Furthermore, mone...

  2. Stock Market Dispersion, Sectoral Shocks, and the German Business Cycle

    OpenAIRE

    Döpke, Jörg; Pierdzioch, Christian

    2000-01-01

    This paper elaborates on the relative importance of sectoral shocks for real economic activity in Germany. Implications of multi-sectoral real business cycle models are examined by resorting to testing techniques based on stock market returns. The empirical evidence is obtained by calculating cross-correlation coefficients of sectoral stock market returns with industrial production, by estimating a limited dependent variable model, and by setting up a trivariate structural vector autoregressi...

  3. Dynamics of the driven Goodwin business cycle equation

    International Nuclear Information System (INIS)

    We study dynamics of the Goodwin nonlinear accelerator business cycle model with periodic forced autonomous investment Ia(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 acr (ω): if a > acr (ω) the period of the income equals to the driving period T=2π/ω

  4. Income Risk and Aggregate Demand over the Business Cycle

    OpenAIRE

    Mericle, David

    2012-01-01

    This dissertation consists of three essays on income risk and aggregate demand over the business cycle, each addressing an aspect of the Great Recession. The first chapter reframes the standard liquidity trap model to illustrate the costly feedback loop between idiosyncratic risk and aggregate demand. I first show that a liquidity trap can result from excess demand for precautionary savings in times of high uncertainty. Second, I show that the output and welfare costs of the ensuing recession d...

  5. Employed and unemployed job seekers and the business cycle

    OpenAIRE

    Longhi, Simonetta; Taylor, Mark

    2013-01-01

    The job search literature suggests that on-the-job search reduces the probability of unemployed people finding a job. However, there is little evidence that employed and unemployed job seekers are similar or apply for the same jobs. We compare employed and unemployed job seekers in terms of their individual characteristics, preferences over working hours, job-search strategies and employment histories, and identify how any differences vary over the business cycle. We find systematic differenc...

  6. A Model of Primary and Secondary Waves in Business Cycles

    OpenAIRE

    Fioretti, G.

    1998-01-01

    Schumpeter maintained that oscillations of macroeconomic variables are only the “secondary wave” of business cycles, a reflex of more fundamental “primary waves” at the microeconomic level caused by the innovating activity of entrepreneurs. Blending Schumpeter’s concern for innovation with Keynes’ concern for uncertainty and expectation formation, this article focuses on the behaviour of entrepreneurs in front of the uncertainty caused by innovation. Entrepreneurs’ behaviour is reconstructed ...

  7. Real Business Cycle Models of the Great Depression

    OpenAIRE

    Pensieroso, Luca

    2009-01-01

    The Great Depression of the 1930s is again on the frontier of research in macroeconomics. Researchers working in the real business cycle (RBC) tradition have recently started to apply their theoretical apparatus to the event. This paper discusses the result of their work and assesses the role of history and macroeconomics in analysing the Great Depression. I argue that the breaking of the depression taboo in macroeconomics has been a desirable completion of the cliometric revolution: no histo...

  8. Ragnar Frisch’s contribution to business cycle analysis

    OpenAIRE

    BJERKHOLT, Olav

    2007-01-01

    Business cycle analysis, i.e. investigations into the more or less regular fluctuations in economic activity, emerged around the mid-nineteenth century. During Ragnar Frisch’s formative years as a young economist the field came to the centre of attention. Frisch was highly concerned about the inability of modern economies in the midst of plenty to prevent economic fluctuations from playing havoc with the livelihood of millions. He first directed his attention towards methods for analysing tim...

  9. 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.

  10. Financial Constraints, Financial Shocks, and Business Cycle Accounting.

    OpenAIRE

    RIMARCHI, Massimiliano

    2012-01-01

    This thesis features three closely related chapters investigating the role of the investment wedge in affecting macroeconomic fluctuations. The first chapter shows that the Business Cycle Accounting (BCA) methodology is sensitive to the specification of households preferences in identifying the role of the investment wedge. A poor performance of the investment wedge and of the financial frictions it represents, such as the one BCA finds on 2007-2010 US data and other past events, is compatibl...

  11. 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

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

    International Nuclear Information System (INIS)

    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. Dynamics of the driven Goodwin business cycle equation

    Energy Technology Data Exchange (ETDEWEB)

    Antonova, A. O., E-mail: anna-antonova-08@mail.ru [National Aviation University, 1Kosmonauvta Komarova Ave., 03058 Kyiv (Ukraine); Reznik, S. N., E-mail: s.reznik@voliacable.com [Institute for Nuclear Research, National Academy of Sciences of Ukraine, 47 Prospekt Nauky, 03680 Kyiv (Ukraine); Todorov, M. D., E-mail: mtod@tu-sofia.bg [Faculty of Applied Mathematics and Computer Science, Technical University of Sofia, 8 Kliment Ohridski Blvd., 1000 Sofia (Bulgaria)

    2015-10-28

    We study dynamics of the Goodwin nonlinear accelerator business cycle model with periodic forced autonomous investment I{sub 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{sub cr} (ω): if a > a{sub cr} (ω) the period of the income equals to the driving period T=2π/ω.

  14. Banking firm and hedging over the business cycle

    OpenAIRE

    Wong, KP; Broll, U

    2010-01-01

    This paper examines the behavior of a banking firm under risk. The banking firm can hedge its risk exposure by trading futures contracts. The banking firm is risk averse and possesses a utility function defined over its end-of-period income and a state variable that denotes the business cycle of the economy. We show that the banking firm optimally opts for an over-hedge or an under-hedge, depending on whether the returns on the futures contracts are negatively or positively correlated with th...

  15. Development on nuclear fuel cycle business in Japan

    International Nuclear Information System (INIS)

    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.)

  16. Modelling supply networks and business cycles as unstable transport phenomena

    Science.gov (United States)

    Helbing, Dirk

    2003-07-01

    Physical concepts developed to describe instabilities in traffic flows can be generalized in a way that allows one to understand the well-known instability of supply chains (the so-called 'bull-whip effect'). That is, small variations in the consumption rate can cause large variations in the production rate of companies generating the requested product. Interestingly, the resulting oscillations have characteristic frequencies which are considerably lower than the variations in the consumption rate. This suggests that instabilities of supply chains may be the reason for the existence of business cycles. At the same time, we establish some links to queueing theory and between micro- and macroeconomics.

  17. THE NEW CLASSICAL THEORY AND THE REAL BUSINESS CYCLE MODEL

    Directory of Open Access Journals (Sweden)

    Oana Simona HUDEA (CARAMAN

    2014-11-01

    Full Text Available The present paper aims at describing some key elements of the new classical theory-related model, namely the Real Business Cycle, mainly describing the economy from the perspective of a perfectly competitive market, characterised by price, wage and interest rate flexibility. The rendered impulse-response functions, that help us in revealing the capacity of the model variables to return to their steady state under the impact of a structural shock, be it technology or monetary policy oriented, give points to the neutrality of the monetary entity decisions, therefore confirming the well-known classical dichotomy existing between the nominal and the real factors of the economy.

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

    International Nuclear Information System (INIS)

    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.

  19. 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.

  20. Business cycles and workplace accidents in Iceland 1986- 2011

    Directory of Open Access Journals (Sweden)

    Tinna Laufey Ásgeirsdóttir

    2014-12-01

    Full Text Available This study is the first to explore the association between business cycles and workplace accidents using Icelandic data. The relationship is evaluated for the entire labor market, for specific sectors, by gender and by the severity of injuries. Most prior research has found workplace accidents to be pro-cyclical. Hypothesized reasons include increased labor supply and greater work intensity in upswings, and that accidents are more likely to be reported. Aggregate data for workplace accidents from the Administration of Occupational Safety and Health and several macroeconomic indicators from Statistics Iceland and Directorate of Labour were examined. The time series were non-stationary so first differences were used to detrend them. Their relationship was then examined using a linear regression model. Data from the Directorate of Health in Iceland and Statistics Iceland were used to calculate the relative risk of an accident. Pro-cyclical associations between business cycles and work-place accidents were observed, particularly in construction, in commerce and for men. The results of the relative-risk calculations indicated that workers were at considerably greater risk of having an accident in 2007 than in 2004-2006 and 2008-2011. By comparing the different estimations of the study, one can conclude that only a small part of the variability of risk can be explained by changes in labour supply. Increased risk at work, given the labor supply, seems to be a more significant reason for increased prevalence of accidents during periods of economic expansion.

  1. 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.

  2. Business cycle model on the basis of “systems potential” method.

    OpenAIRE

    Grigorii Pushnoi

    2005-01-01

    The new business cycle three-dimensional model is formulated on the basis of new system approach known as the System Potential Method. Cyclical dynamics with catastrophe jumps (alike to Varian' model) and some stochastic properties is described. Properties of such cycles are similar to the properties of the typical business cycle.

  3. 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.

  4. On the Sources of Business Cycles:Implications for DSGE Models

    OpenAIRE

    Andrle, Michal; Brůha, Jan; Solmaz, Serhat

    2016-01-01

    What are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue that most business cycle fluctuations are driven by one major factor. The positive co-movement of real output and inflation convincingly argues for a demand story. This feature—robust across time and space—provides a simple smell test for structural macroeconomic models. We propose...

  5. Business Cycles Synchronization in East Asia: A Markov-Switching Approach

    OpenAIRE

    Dufrénot, Gilles; Keddad, Benjamin

    2013-01-01

    This paper attempts to analyze the relationships between the ASEAN-5 countries' business cycles. We examine the nature of business cycles correlation trying to disentangle between regional spillover effects (expansion and recession phases among the ASEAN-5 are correlated) and global spillovers where the business cycles of other countries (China, Japan and the US) play an important role in synchronizing the activity within the ASEAN-5. We employ a time-varying transition probability Markov swi...

  6. 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.

  7. Empirical Analysis: Business Cycles and Inward FDI in China

    Directory of Open Access Journals (Sweden)

    Qiyun Fang

    2007-01-01

    Full Text Available It is well-known that the current speeding-up of globalization has been, on one hand, spreading macro economic effects around the world, while, on the other, fueling firms’ activities of crossing national borders. Then, are there any links between these two influences? In this paper, we chose China as our subject, to try to clarify it. A set of models for Granger Causality test and VAR Impulse Responses were constructed and some econometric estimations and empirical analysis were made by employing the latest 20-year authorized annual statistic data. And the findings clearly indicated that firms’ (foreign activities (inward FDI do respond pro-cyclically to business cycle developments in a long term.

  8. Empirical Analysis II: Business Cycles and Inward FDI in China

    Directory of Open Access Journals (Sweden)

    Yahya Sharahili

    2008-01-01

    Full Text Available It is well-known that the current speeding-up of globalization has been, on one hand, spreading macro economic effects around the world, while, on the other, fueling firms’ activities of crossing national borders. Then, are there any links between these two influences? As we have concluded in previous research that inward FDI and business cycle development do pro-cyclically relate on Granger base, this paper will further discuss “how do they react to each other?” Again, we chose China as subject and employed the 1983~2004 authorized annual statistic data. By constructing an Endogenous Growth model, we, after processing Correlation Analysis and testing the coefficient significance of each variable, found out the original momentum of Chinese economic growth and explored whether there exist some long-term relationship through Johansen Co-integration Test.

  9. Business Cycle Synchronization Between Australia and New Zealand

    Directory of Open Access Journals (Sweden)

    Jie Wei

    2007-01-01

    Full Text Available There has been a high degree of economic and financial integration between Australia and New Zealand with free trade agreements linking the capital and labor markets. Given a strong economic relationship, business-cycle transmission is expected to exist between the two countries. By analyzing the shock-transmission channels via trade, monetary policy, and exchange rates between Australia and New Zealand we can infer that if Australia and New Zealand trade less, have more similar monetary policy structure, or have less similar economic structures they would have stronger economy correlation. The results also show that the highly integrated banking system between Australia and New Zealand is an additional avenue for shock transmission between both countries.

  10. 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

  11. 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…

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

    Energy Technology Data Exchange (ETDEWEB)

    Henriques, I.; Sadorsky, P. [York Univ., Toronto, ON (Canada). Schulich School of Business

    2005-07-01

    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.

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

    International Nuclear Information System (INIS)

    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)

  14. Risk and capital adjustment over the business cycle: Evidence from Indian banks

    OpenAIRE

    Ghosh, Saibal

    2008-01-01

    Employing data on Indian banks for 1997-2006, we test the behavior of capital buffers over the business cycle. The evidence indicates that capital buffers exhibit pro-cyclical behavior, although the implied effects are small.

  15. 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.

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

    NARCIS (Netherlands)

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

    2016-01-01

    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 c

  17. A Repayment Model of House Prices Oil Price Dynamics in a Real Business Cycle Model

    OpenAIRE

    Vipin Arora; Pedro Gomis-Porqueras

    2011-01-01

    We show the importance of endogenous oil prices and production in the real business cycle framework. Endogenising these variables improves the model's predictions of business cycle statistics, oil related and non-oil related, relative to a situation where either is exogenous. This result is robust to the standard extensions (variable capacity utilisation and monopolistic competition) used in the literature. In particular, we first show that with either exogenous oil prices or production the s...

  18. Business Cycle Properties of Selected U.S. Economic Time Series, 1959-1988

    OpenAIRE

    James H. Stock; Mark W. Watson

    1990-01-01

    This paper catalogs the business cycle properties of 163 monthly U.S. economic time series over the three decades from 1959 through 1988. Two general sets of summary statistics are reported. The first set measures the comovement of each individual time series with a reference series representing real economic activity. These statistics focus on comovements at business cycle horizons. The second set of statistics examines the predictive content of each of the series for aggregate activity, rel...

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

    OpenAIRE

    Berk, J.M.

    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.

  20. Classical business cycles in Latin America: Turning points, asimmetries and international synchronisation

    OpenAIRE

    Pablo Mejía-Reyes

    1999-01-01

    A classical business cycles approach is applied to study turning points, asymmetries and international synchronization of business cycle regimes (expansion/recession) for several Latin American countries. The results suggest that recessions are characterized by deeper change, less persistence, and greater volatility than expansions. However, existing evidence about intra-regional economic transactions suggests that these associations might be explained by similar economic policies and common ...

  1. The Cross-Sectional Dynamics of German Business Cycles: A Bird´s Eye View

    OpenAIRE

    Döpke, Jörg; Funke, Michael; Holly, Sean; Weber, Sebastian

    2005-01-01

    We establish some stylised facts for Germany's business cycle at the level of the firm. Based on longitudinal firm-level data from the Bundesbank's balance sheet statistic covering, on average, 55,000 firms per year from 1971 to 1998, we analyse the reallocation across individual producers and, in turn, the connection of this reallocation to aggregate business cycles. The empirical results indicate a pronounced heterogeneity of real sale changes across firms. Moreover, the distribution of gro...

  2. Wheatering tight economic times: the sales evolution of consumer durables over the business cycle.

    OpenAIRE

    2003-01-01

    Despite its obvious importance, not much marketing research focuses on how business-cycle fluctuations affect individual companies and/or industries. Often, one only has aggregate information on the state of the national economy, even though cyclical contractions and expansions need not have an equal impact on every industry, nor on all firms in that industry. Using recent time-series developments, we introduce various measures to quantify the extent and nature of business-cycle fluctuations ...

  3. How do fiscal stimuli impact on the Ssynchronization of business cycles?

    OpenAIRE

    Agnello, L; Caporale, GM; Sousa, R.

    2016-01-01

    Using quarterly data for a panel of advanced economies, we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked. We also find: (i) some evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii) a positive effect of bilateral trade on the synchronizatio...

  4. Regional business cycles in New Zealand:Do they exist? What might drive them?

    OpenAIRE

    Viv B Hall; John, McDermott C.

    2005-01-01

    We use National Bank of New Zealand Regional Economic Activity data, to identify and characterise classical business cycle turning points, for New Zealand’s 14 regions and aggregate New Zealand activity. Using Concordance statistic measures, logistic model and GMM estimation methods, meaningful regional business cycles have been identified and a number of significant associations established. All regions exhibit cyclical asymmetry for both durations and amplitudes, and synchronisations betwee...

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

    OpenAIRE

    Vasilev, Aleksandar

    2016-01-01

    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) 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 capi...

  6. Evaluation of Uncertainty on the Stages of Business Cycle: Implementation of Quantum Principles

    OpenAIRE

    Anna Svirina; Elena Parfenova; Elena Shurkina

    2014-01-01

    The goal of the research is to propose implementation of quantum principles for evaluation of economic development on stages of business cycle, define the difference between traditional (deterministic) and quantum approaches and to provide quantitative analysis based argumentation for use of quantum economic principles in evaluation of internal and external factors on the stages of business cycle. The object of the study is possibility and reliability of quantum economic principles implementa...

  7. The Contribution of Economic Indicator Analysis to Understanding and Forecasting Business Cycles

    OpenAIRE

    Ernst A. Boehm

    2001-01-01

    This paper reviews major features of the development of economic indicator analysis (EIA), notably its contribution to identifying, understanding, explaining and forecasting business cycles. The paper highlights the substantial pioneering role of Dr Geoffrey H. Moore in this development. The paper reviews some key issues regarding the selection and classification of economic indicators; and the methodologies developed to use these indicators to identify and measure business cycles on national...

  8. Interest Rates, Leverage, and Business Cycles in Emerging Economies: The Role of Financial Frictions

    OpenAIRE

    Andrés Fernández; Adam Gulan

    2015-01-01

    Countercyclical country interest rates have been shown to be an important characteristic of business cycles in emerging markets. In this paper we provide a microfounded rationale for this pattern by linking interest rate spreads to the dynamics of corporate leverage. For this purpose we embed a financial accelerator into a business cycle model of a small open economy and estimate it on a novel panel dataset for emerging economies that merges macroeconomic and financial data. The model account...

  9. International trade and business cycle synchronization in Poland, the European Union and the Euro Zone

    Directory of Open Access Journals (Sweden)

    Piotr Misztal

    2013-10-01

    Full Text Available The analysis of business cycle synchronization levels has become a key point in the discussion of the processes of international economic integration. Economists show a particular interest in analyzing the frequency of processes of business cycle convergence and divergence (decoupling in the European Union, especially in the Euro Zone. One of the factors determining business cycle convergence in economies is the intensity and structure of international trade. The aim of this paper is to analyze the influence exerted by international trade over the synchronization of business cycles in Poland, the European Union and the Euro Zone from 1995 to 2011. The analytical methods employed here encompass a review of the literature on macroeconomics and international finance, as well as econometric models (such as the Vector Autoregression Model. The results of empirical research indicate that an increase in trade turnover does not necessarily lead to greater business cycle synchronization in the economies under analysis. In fact, the impact of an increase in countries’ turnover on the synchronization of their business cycles depends predominantly on the structure of trade turnover and not solely on the intensity of trade.

  10. 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.

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

    NARCIS (Netherlands)

    P. Sedláček

    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 relationsh

  12. 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.

  13. A Contribution to the Austrian Business Cycle Theory: Uncertainty and Price Expectations

    OpenAIRE

    Frömmel, Tomáš

    2016-01-01

    Common critique of the Austrian business cycle theory states that the Austrian cycle could not be initiated under the rational expectations hypothesis. This thesis therefore investigates the role of price expectations of entrepreneurs in the Austrian cycle theory. We conclude that this theory might be compatible with rational expectations only under several assumptions. The rational expectations hypothesis is, however, evaluated rather critically concluding it is quite strong and unrealistic ...

  14. 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...

  15. Innovation budgeting over the business cycle and innovation performance

    OpenAIRE

    Hud, Martin; Rammer, Christian

    2015-01-01

    The global economic crisis of 2008/2009 hit many firms hard. Faced with rapidly declining sales and highly uncertain economic prospects, firms had to cut costs and reconsider their business strategies. With respect to innovation, cost cutting often means to stop or underresource innovation projects which may harm a firm’s long-term competitiveness. Firms may therefore refrain from reducing innovation budgets during crises but rather deliberately allocate more resources to innov...

  16. Do Institutions and Culture Matter for Business Cycles?

    OpenAIRE

    Altug, Sumru; Canova, Fabio

    2012-01-01

    We examine the relationship between macroeconomic, institutional, and cultural indicators and cyclical fluctuations for European, Middle Eastern and North African Mediterranean countries. Mediterranean cycles are different from EU cycles: the duration of expansions is shorter; the amplitude and the output costs of recessions are larger; and cyclical synchronization is smaller. Differences in macroeconomic and institutional indicators partly account for the relative differences in cyclical syn...

  17. Welfare Cost of Business Cycles with Idiosyncratic Consumption Risk and a Preference for Robustness

    OpenAIRE

    Martin Ellison; Sargent, Thomas J.

    2015-01-01

    The welfare cost of random consumption fluctuations is known from De Santis (2007) to be increasing in the level of uninsured idiosyncratic consumption risk. It is known from Barillas, Hansen, and Sargent (2009) to increase if agents care about robustness to model misspecification. We calculate the cost of business cycles in an economy where agents face idiosyncratic consumption risk and fear model misspecification, finding that idiosyncratic risk has a greater impact on the cost of business ...

  18. The Link Between Firms? Innovation Decision and the Business Cycle: An Empirical Analysis

    OpenAIRE

    Heger, Diana

    2004-01-01

    The sensitivity of innovation activities with respect to the business cycle is often assumed to be small. In this paper the hypothesis on cyclical dependence of innovation activities is tested for firms in the German manufacturing, and additionally for SMEs. To this end firms' innovation decisions are considered. The decision to innovate in one period is modelled via a first-order Markov chain approach. The results suggest that the patterns in innovative behavior are linked to the business cy...

  19. The role of real and nominal variables in defining business cycles: dynamic properties of a hybrid model - an alternative view

    OpenAIRE

    Themba G. Chirwa

    2009-01-01

    The paper provides an alternative view to the Real and New Keynesian business cycle theories. The paper focuses on the combination of both real and nominal variables in explaining the cyclical movements of business cycles. We propose using Vector Autoregressive (VAR) technique on the production function approach in order to empirically assess the relative importance of both real and nominal variables in defining the shape of a business cycle (or output gap). An economy-specific variable (infl...

  20. Are they All in the Same Boat? the 2000-2001 Growth Slowdown and the G-7 Business Cycle Linkages

    OpenAIRE

    Thomas Helbling; Tamim Bayoumi

    2003-01-01

    This paper reviews the international business cycle among Group of Seven (G-7) countries since 1973 from two angles. An examination of business cycle synchronization among these countries using simple descriptive statistics shows that synchronized slowdowns have been the norm rather than the exception and that the slowdown in 2000-2001 largely followed patterns seen in the past. The paper also identifies the international business cycle with an asymptotic dynamic factor model. Two global fact...

  1. 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.

  2. Advertising Expenditures Interaction with Business Cycles and Firm Value: An Empirical Analysis with US Companies

    Directory of Open Access Journals (Sweden)

    Graziela Fortunato

    2010-10-01

    Full Text Available This study aims to verify the contribution of advertising expendituresto firm value. To reach this goal, we considered business cycles, which follow a stochastic process and may influence the decision as to the amount to be spent in advertising. With the optimization of these expenditures under the business cycle effect, it is, in fact, possible to analyze whether the results positively contribute to firm value. Data from US companies of the consumer staples sector from 1997 to 2008 were employed to test the proposed model through multiple regression and panel data. The results indicate favorable evidences which confirm the proposed model.

  3. 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.

  4. The insurance business and the nuclear fuel cycle

    International Nuclear Information System (INIS)

    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)

  5. Annex A5 : A model of the stochastic convergence between euro area business cycles

    OpenAIRE

    Lemoine, Matthieu

    2006-01-01

    A new non-linear parametric model, the Stochastic Cyclical Convergence Model (SCCM), is used for measuring the convergence of business cycles between euro area countries and the euro area aggregate. The model combines unobserved component models with time-varying parameter models. The convergence between the two cycles is characterised by two time-varying parameters, the phase-shift and a weight, which is related to the phase-adjusted correlation. A Kalman filter-based iterative procedure is ...

  6. International and domestic constraints on political business cycles in OECD economies : a comment

    NARCIS (Netherlands)

    Leertouwer, Erik; Maier, Philipp

    1999-01-01

    We attempt to assess the effect of monetary policy in a panel model for 16 OECD countries. To answer the question whether central banks actively create political business cycles we focus on the short-term interest rate as a proxy for the use of monetary instruments. Our results indicate that central

  7. 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 a

  8. 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…

  9. 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.

  10. IDENTIFYING THE INDUSTRY BUSINESS CYCLE USING THE MARKOV SWITCHING APPROACH IN CENTRAL AND EASTERN EUROPE

    Directory of Open Access Journals (Sweden)

    Cristi SPULBĂR

    2012-01-01

    Full Text Available In this article we use a Markov Switching model with two lags to identify and to compare the business cycle in Romania, Czech Republic, Hungary and Poland using data on industrial production for the 1991-2011 period. We use a model with two regimes that reflect the economic expansions and contractions. The Markov Switching models have been widely used in order to detect and to date the business cycle turning points. However, it should be pointed out that the industrial production may have a little bit different dynamics than the quarterly gross domestic product which is the main measure of economic activity. Based on the smoothed regime probabilities the model track three recessionary periods of the Romanian economy in 1991, 1997 and 2009 and two recessionary periods for the other countries in 1991 and 2009. Mean yoy growth of IPI is 5.01% during expansion periods, while it switches to -18.6% during contraction periods for the Romanian economy. In comparison, mean yoy growth of IPI is 7.25% during expansion periods, while it switches to -13.4% during contraction periods for the Poland economy. Furthermore, in Romania, the duration of the three recessions in months was 25, 25 and 9 months. In Poland, the duration of the two recessions was 16 and 10 months. The results of the study may be used in order to compare the business cycle in Central and Eastern European countries with the Euro Area business cycle.

  11. 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. PMID:25916435

  12. Evaluation of Uncertainty on the Stages of Business Cycle: Implementation of Quantum Principles

    Directory of Open Access Journals (Sweden)

    Anna Svirina

    2014-08-01

    Full Text Available The goal of the research is to propose implementation of quantum principles for evaluation of economic development on stages of business cycle, define the difference between traditional (deterministic and quantum approaches and to provide quantitative analysis based argumentation for use of quantum economic principles in evaluation of internal and external factors on the stages of business cycle. The object of the study is possibility and reliability of quantum economic principles implementation to evaluate economic system performance. The authors analyze existing approaches towards implementation of deterministic, probabilistic and quantum models for estimating internal and external factors on stages of business cycle, define the benchmark for shift from traditional economy models and principles to quantum principles, describe the stages of business cycle from the quantum economics point of view and provide quantitative analysis of deterministic and quantum models quality on the level of enterprise to prove efficiency and reliability of quantum principles based approach. Calculations and data processing were carried out using Microsoft Excel and SSPS Statistics software.

  13. On a Method of Statistical Business-Cycle Research; a reply (to Keynes)

    NARCIS (Netherlands)

    J. Tinbergen (Jan)

    1940-01-01

    textabstractAlso published in: A.H. Hansen and R.V. Clemence (Eds), Readings on Business Cycles and National Income, Allen & Unwin, London, 1953, pp. 341-354, in: Adrian C. Darnell (Ed), The History of Econometrics Vol. 2, Edward Elgar, Aldershot, 1994, pp. 214-227 and in: Dale J. Poirier (Ed), The

  14. A novel PPGA-based clustering analysis method for business cycle indicator selection

    Institute of Scientific and Technical Information of China (English)

    Dabin ZHANG; Lean YU; Shouyang WANG; Yingwen SONG

    2009-01-01

    A new clustering analysis method based on the pseudo parallel genetic algorithm (PPGA) is proposed for business cycle indicator selection. In the proposed method,the category of each indicator is coded by real numbers,and some illegal chromosomes are repaired by the identi-fication arid restoration of empty class. Two mutation op-erators, namely the discrete random mutation operator andthe optimal direction mutation operator, are designed to bal-ance the local convergence speed and the global convergence performance, which are then combined with migration strat-egy and insertion strategy. For the purpose of verification and illustration, the proposed method is compared with the K-means clustering algorithm and the standard genetic algo-rithms via a numerical simulation experiment. The experi-mental result shows the feasibility and effectiveness of the new PPGA-based clustering analysis algorithm. Meanwhile,the proposed clustering analysis algorithm is also applied to select the business cycle indicators to examine the status of the macro economy. Empirical results demonstrate that the proposed method can effectively and correctly select some leading indicators, coincident indicators, and lagging indi-cators to reflect the business cycle, which is extremely op-erational for some macro economy administrative managers and business decision-makers.

  15. 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.

  16. Application of three non-linear econometric approaches to identify business cycles in Peru

    OpenAIRE

    Gabriel Rodríguez

    2010-01-01

    I use three non-linear econometric models to identify and analyze business cycles in the Peruvian economy for the period 1980:1-2008:4. The models are the Smooth Transition Autoregressive (STAR) model suggested by Teräsvirta (1994), the extended version of the Markov-Switching model proposed by Hamilton (1989), and the plucking model of Friedman (1964, 1993). The results indicate strong rejection of the null hypothesis of linearity. The majority of models identify quarters concentrated around...

  17. Production sharing and real business cycles in a small open economy

    OpenAIRE

    Jose Joaquin Lopez

    2007-01-01

    Production sharing and vertical specialization account for a significant share of trade between developed and developing countries. The Mexican maquiladora industry provides an ideal example of production sharing in a small open economy. The typical "maquila" imports most of its inputs from and exports all its output to the United States.> ; This article tries to determine to what extent production sharing, as in the Mexican maquiladora, can serve as a transmission mechanism of business cycle...

  18. Can Wage and Price Stickiness Account for Sizeable Costs of Business Cycle Fluctuations?

    OpenAIRE

    Paustian, Matthias

    2004-01-01

    This paper asks the following two questions: First, can a model with nominal rigidities in wage and price setting account for the average welfare costs of business cycle fluctuations identified in Gali, Gertler, and Lopez- Salido (2003)? Second, do we need to agree on a particular scheme for nominal rigidities to answer that question? We compute a quadratic approximation to agents expected lifetime utility and evaluate welfare for different modeling schemes of nominal rigidities that all have...

  19. Great opportunities or poor alternatives: self-employment, unemployment and paid employment over the business cycle

    OpenAIRE

    Ludo Visschers; Ana Millan; Matthias Kredler

    2014-01-01

    In this paper, we study the flows between self-employment, unemployment and paid employment, and how these vary over the business cycle. First, we document these flows in the data, paying particular attention to previous labor market outcomes for workers entering self-employment, and subsequent labor market outcomes for those leaving self-employment, and how these are affected by cyclical conditions. Second, we construct a two-ladder equilibrium model of a frictional labor market capturing th...

  20. A new view into political business cycles: Household behaviour in Albania

    OpenAIRE

    Endrit Lami; Holger Kächelein; Drini Imami

    2014-01-01

    Over the last decades, there has been plenty of research and publications on Political Business Cycles (PBC), aimed at analysing and explaining the use of fiscal and monetary instruments to stimulate economic growth before elections, with the intention of impressing potential voters. Previous research on PBC in Albania reveals clear evidence of fiscal expansion before elections, but no significant changes in GDP and inflation as theory predicts. One possible explanation of this result could b...

  1. 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...... of the distortionary effect (on job creation) from providing unemployment insurance, whereas countercyclical benefits facilitate consumption smoothing....

  2. The Beat of the Economic Heart: Joseph Schumpeter and Arthur Spiethoff on Business Cycles

    OpenAIRE

    Kurz, Heinz D.

    2010-01-01

    The paper discusses the relationship between Arthur Spiethoff and Joseph A. Schumpeter, the men and their works. Had it not been for Spiethoff Schumpeter would in all probability have forever been lost to scientific work. It was Spiethoff who brought the Austrian back to academia and research after a sequence of serious mishaps in politics and banking. Spiethoff's contribution to an analysis of business cycles is then summarized and important similarities and some differences between it and S...

  3. Appendix: Business Cycle Implications of Internal Consumption Habit for New Keynesian Models

    OpenAIRE

    Kano, Takashi; James M. Nason

    2012-01-01

    The appendix discusses computational aspects of the paper “Business Cycle Implications of Internal Consumption Habit for New Keynesian Models.” These topics range from solving the baseline new Keynesian dynamic stochastic general equilibrium (NKDSGE) model, estimating the structural infinite-order vector moving averages, checking whether these models recover the fundamental shocks, to computing the permanent and transitory output and consumption growth spectral densities. More evidence about ...

  4. A Pearson's test for symmetry with an application to the Spanish business cycle

    OpenAIRE

    Jorge Belaire-Franch; Dulce Contreras

    2002-01-01

    In this paper, we look for asymmetries in the Spanish business cycle. To that end, we firstly propose an easy nonparametric testing procedure to test for symmetry based on a Pearson's chi-squared statistic, which we call P-test. Then, we test for two popular forms of asymmetry, deepness and steepness, using a battery of nonparametric tests. In addition, we analyse possible complementarities between the tests used in this paper, and we compute p-value adjustments for multiple tests.

  5. The International Risk-Sharing Puzzle is at Business Cycle and Lower Frequency

    OpenAIRE

    Corsetti, Giancarlo; Dedola, Luca; Viani, Francesca

    2011-01-01

    We decompose the Backus-Smith [1993] statistic --- a low or negative correlation between relative consumption and the real exchange rate at odds with a high degree of international risk sharing --- in its dynamic components at different frequencies. Using multivariate spectral analysis techniques we show that, in most OECD countries, the dynamic correlation tends to be more negative, and significantly so, at business cycle or lower frequencies --- the appropriate frequencies for assessing the...

  6. Welfare cost of business cycles in economies with individual consumption risk

    OpenAIRE

    Ellison, Martin; Sargent, Thomas J.

    2012-01-01

    The welfare cost of random consumption fluctuations is known from De Santis (2007) to be increasing in the level of individual consumption risk in the economy. It is also known from Barillas et al. (2009) to increase if agents in the economy care about robustness to model misspecification. In this paper, we combine these two effects and calculate the cost of business cycles in an economy with consumers who face individual consumption risk and who fear model misspecification. We find that indi...

  7. Higher-Order Income Risk and Social Insurance Policy Over the Business Cycle

    OpenAIRE

    Rocio Madera; Fatih Guvenen; David Domeij; Christopher Busch

    2015-01-01

    This paper studies how higher-order income risk varies over the business cycle as well as the extent to which such risks can be smoothed within households or with government social insurance policies. To provide a broad perspective on these questions, we study panel data on individuals and households from the United States, Germany, and Sweden, covering more than three decades of data for each country. We find that the underlying variation in higher-order risk is remarkably similar across the...

  8. Disability, capacity for work and the business cycle: An international perspective

    OpenAIRE

    Ben??tez Silva, Hugo; Disney, Richard; Jim??nez-Mart??n, Sergi

    2009-01-01

    An important policy issue in recent years concerns the number of people claiming disability benefits for reasons of incapacity for work. We distinguish between ?work disability?, which may have its roots in economic and social circumstances, and ?health disability? which arises from clear diagnosed medical conditions. Although there is a link between work and health disability, economic conditions, and in particular the ?business cycle? and variations in the risk of unemploymen...

  9. Environmental Concern and the Business Cycle: The Chilling Effect of Recession

    OpenAIRE

    Kahn, Matthew E.; Kotchen, Matthew J

    2010-01-01

    This paper uses three different sources of data to investigate the association between the business cycle--measured with unemployment rates--and environmental concern. Building on recent research that finds internet search terms to be useful predictors of health epidemics and economic activity, we find that an increase in a state's unemployment rate decreases Google searches for "global warming" and increases searches for "unemployment," and that the effect differs according to a state's poli...

  10. Tackling Undeclared Work. Suggestions from a Business Cycle Model with Search Frictions

    OpenAIRE

    Ciccarone Giuseppe; Giuli Francesco; Marchetti Enrico

    2014-01-01

    The paper evaluates the relative effect of deterrence, prevention, curative and commitment policy measures on the size of undeclared work in a real business cycle model with undeclared work, tax evasion and search frictions in the labour market. A numerical application of the model to the European economy shows that all these approaches reduce the undeclared share of output, but that deterrence and commitment policies also produce a negative effect on stationary employment. The curative appro...

  11. A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy

    OpenAIRE

    Hüseyin Taştan; Bekir Aşık

    2014-01-01

    We estimate a canonical small open economy real business-cycle model and its several extensions using a Bayesian approach to explore the effects of different structural shocks on macroeconomic fluctuations in Turkey. Alternative models include several theoretical exogenous shocks, such as those to temporary and permanent productivity, world interest rates, preferences, and domestic spending, as driving forces together with financial frictions. Results indicate that output is mostly driven by ...

  12. The Allocation of Talent over the Business Cycle and its Effect on Sectoral Productivity

    OpenAIRE

    Michael Boehm; Martin Watzinger

    2012-01-01

    It is well documented that graduates enter different occupations in recessions than in booms. In this article, we examine the impact of this reallocation for long-term productivity and output across sectors. We develop a model in which talent flows to stable sectors in recessions and to cyclical sectors in booms. We find evidence for the predicted change in productivity caused by the business cycle in a setting where output can be readily measured: economists starting or graduating from their...

  13. Do institutions matter for economic fluctuations? Weak property rights in a business cycle model for Mexico

    OpenAIRE

    2008-01-01

    This paper shows that introducing weak property rights in the standard real business cycle (RBC) model can help to explain economic fluctuations. This is motivated by the empirical observation that changes in institutions in emerging markets are related to the evolution of the main macroeconomic variables. In particular, in Mexico, the movements in productivity in the data are associated with changes in institutions, so that we can explain productivity shocks to a large extent as shocks to th...

  14. BUSINESS CYCLE EFFECTS ON CONCERN ABOUT CLIMATE CHANGE: THE CHILLING EFFECT OF RECESSION

    OpenAIRE

    Kahn, Matthew E.; Kotchen, Matthew J

    2011-01-01

    This paper uses two different sources of data to investigate the association between the business cycle — measured with unemployment rates — and public concern about climate change. Building on recent research that finds internet search terms to be useful predictors of health epidemics and economic activity, we find that an increase in a state's unemployment rate decreases Google searches for "global warming" and increases searches for "unemployment," and that the effect differs according to ...

  15. Real Business Cycle Models of the Great Depression : a Critical Survey

    OpenAIRE

    Pensieroso, Luca

    2005-01-01

    Recent years have witnessed a revival of interest in the Great Depression of the 1930s. Among the differing new interpretations, that of the real business cycle (RBC) is particularly significant. It represents an outstanding methodological innovation in trying to cast the Great Depression within an “equilibrium†framework. This paper critically reiews the RBC interpretation of the Great Depression, clarifying its theoretical and methodological foundations, and paving the way for future ass...

  16. Shocks, frictions, and business cycles in a developing Sub-Saharan African economy

    OpenAIRE

    Noah Ndela Ntsama, Jean Frederic

    2011-01-01

    This thesis examines the sources of business cycle fluctuations in a developing Sub-Saharan African economy. We develop an open economy dynamic stochastic general equilibrium model (DSGE), which is log-linearized, calibrated, and estimated with Bayesian techniques using South Africa macroeconomic data. The model incorporates various features such as external habit formation, internal investment adjustment cost, variable capacity utilization, domestically produced goods prices and wages sticki...

  17. 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.

  18. 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.

  19. Interest Rates and Real Business Cycles in Emerging Markets (Yukselen Piyasalarda Faiz Oranlari ve Reel Is Cevrimleri)

    OpenAIRE

    S. Tolga Tiryaki

    2010-01-01

    We study the quantitative effects of interest rates on the business cycles of emerging markets. The real business cycle model featured in Neumeyer and Perri ("Business cycles in emerging economies : The role of interest rates."Journal of Monetary Economics, March 2005, 52 (2), 345-380.) is calibrated to match Turkish data. Fluctuations in country spread account for only less than 9 percent of output volatility, less than one third of the value found in Neumeyer and Perri. We show that their r...

  20. Some Business Cycle Consequences of Trade Agreements: Th e Case of the North American Free Trade Agreement

    OpenAIRE

    Bejan, Maria

    2007-01-01

    This paper investigates the effects of signing a trade agreement on the correlations of the business cycle fluctuations of consumption, investment and output between two countries. We construct an international business cycle model with trade costs and we calibrate it to the United States and Mexico in order to estimate the impact of NAFTA on their co-movements. Although there exist some discrepancies between the theory and data in the degree of correlation, the direction of change correspond...

  1. 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.

  2. User-centred redesign of a business systemusing the Star Life Cycle method

    OpenAIRE

    Ahlström, Martin

    2008-01-01

    The purpose with this thesis was to study user activities in a business system, MediusFlow. The overall objective was to identify user related problems and to analyse which of the usability data gathering methods to use in the future development process of the company Medius. The outcome of this study indicated that a cognitive related user problem was the most important problem to solve. A Star Life Cycle method was preferred. Two low-fidelity prototypes were developed to exemplify an altern...

  3. 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.

  4. Averaging business cycles vs. myopia: Do we need a long term vision when developing IRP?

    Energy Technology Data Exchange (ETDEWEB)

    McDonald, C. [Synergic Resources Corporation, Bala Cynwyd, PA (United States); Gupta, P.C. [Synergic Resources Corp., Oakland, CA (United States)

    1995-05-01

    Utility demand forecasting is inherently imprecise due to the number of uncertainties resulting from business cycles, policy making, technology breakthroughs, national and international political upheavals and the limitations of the forecasting tools. This implies that revisions based primarily on recent experience could lead to unstable forecasts. Moreover, new planning tools are required that provide an explicit consideration of uncertainty and lead to flexible and robust planning tools are required that provide an explicit consideration of uncertainty and lead to flexible and robust planning decisions.

  5. 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...

  6. 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...

  7. 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. PMID:19781138

  8. 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.

  9. 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.

  10. 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.

  11. 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.

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

    International Nuclear Information System (INIS)

    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

  13. 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.

  14. 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. PMID:26569135

  15. The Short-Run and Long-Run Relationships between Mortality and the Business Cycle in Canada

    Directory of Open Access Journals (Sweden)

    Zuzana Janko

    2013-01-01

    Full Text Available This paper investigates the relationship between health and the business cycle for the Canadian economy. The majority of existing literature shows a procyclical relationship between death rates and indicators of the business cycle, suggesting that recessions are good for one’s health. We use a time series error correction model to determine the short-run and long-run impacts of the unemployment rates on death rates. Our results indicate that temporary slowdowns in economic activity are associated with lower death rates. Moreover, once we stratify the data by sex, we find a long-run negative relationship between the unemployment rate and death rates for both sexes.

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

    International Nuclear Information System (INIS)

    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

  17. Do loss profiles on the mortgage market resonate with changes in macro economic prospects, business cycle movements or policy measures?

    NARCIS (Netherlands)

    L.H.J. Noordegraaf-Eelens (Liesbeth); Ph.H.B.F. Franses (Philip Hans)

    2014-01-01

    markdownabstract__Abstract__ Over the years we see that mortgages with less risk of loss, due to more asset accumulation, have become more popular. We examine if this popularity resonates with macroeconomic features, business cycle movements and policy measures. Using detailed data from an importan

  18. Fiscal policy and the business cycle: the impact of government expenditures, public debt, and sovereign risk on macroeconomic fluctuations

    NARCIS (Netherlands)

    M.K. Kirchner

    2011-01-01

    This thesis studies the role of fiscal policy over the business cycle based on a combination of empirical macroeconometric techniques and macroeconomic theory. The focus of the analysis to be conducted is on the impact of government expenditure policies, public debt, and sovereign default risk on sh

  19. 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 societ

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

    International Nuclear Information System (INIS)

    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).

  1. 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.

  2. MARKET CHANGES, BUSINESS CYCLES AND FLUCTUATIONS IN ELECTRICITY PRICES - EU EVIDENCE FROM GERMANY AND SLOVENIA

    Directory of Open Access Journals (Sweden)

    France Križanič

    2013-01-01

    Full Text Available This article deals with interesting oscillation pattern in electricity prices during the period of EU electric power supply liberalization process, its transition from infrastructure to market activity and during last economic crisis, when at first prices declined significantly, to be raised afterward and start to decline again during the last recession. Using empirical evidence from Germany and Slovenia and based on short theoretical background we try to explain how can such strong oscillations occur and what we can expect in the future? It was discovered that such oscillations can be connected with business cycles dynamic, only that electricity prices oscillations proved to be even stronger unless a major technological breakthrough occurs in the way energy is produced or spent. Economic growth affects electricity prices even in relative terms, causes growth in prices with respect to inflation and vice versa. To conclude, we can expect relative growth of electric power prices together with economic recovery in the near future, but growth should be moderately slower than growth of real GDP.

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

    International Nuclear Information System (INIS)

    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

  4. The Carrot and the Stick: The Business Cycle Implications of Incentive Pay in the Labor Search Model

    OpenAIRE

    Champagne, Julien

    2015-01-01

    This paper considers a real business cycle model with labor search frictions where two types of incentive pay are explicitly introduced following the insights from the micro literature on performance pay (e.g. Lazear, 1986). While in both schemes workers and firms negotiate ahead of time-t information, the object of the negotiation is different. The first scheme is called an "efficiency wage," since it follows closely the intuition of the shirking model by Shapiro and Stiglitz (1984), while t...

  5. 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.

  6. The relationship between macroeconomic and industry-specific business cycle indicators and workrelated injuries among Danish construction workers

    DEFF Research Database (Denmark)

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

    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...... to the Danish Working Environment Authority (WEA). Methods 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...

  7. 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.

  8. 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. PMID:26898478

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

    OpenAIRE

    Horielov Dmytro O.; Lavrova Yuliia V.

    2014-01-01

    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 ...

  10. The Mathematical Theory of Business Cycle in Italy in the Thirties

    OpenAIRE

    Pomini Mario

    2014-01-01

    Economic cycle theory has constituted one of the most important research fields in the period between the two world wars. It is possible to identify an Italian element in the international debate, composed primarily of contributions from Amoroso (1932; 1935; 1940), Vinci (1934; 1937; 1953), Bordin (1935) and Palomba (1939). Building on and innovating on the mathematical models of Evans and Roosin the second half of the 1920s, Paretian economists proposed models in which the economic cycle cou...

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

    Energy Technology Data Exchange (ETDEWEB)

    Henriques, I.; Sadorsky, P. [York Univ., Schulich School of Business, Toronto, Ontario (Canada)]. E-mail: ihenriqu@schulich.yorku.ca; psadorsk@schulich.yorku.ca

    2005-07-01

    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)

  12. Tripartite analysis across business cycles in Turkey: A multi-timescale inquiry of efficiency, volatility and integration

    Directory of Open Access Journals (Sweden)

    Shaista Arshad

    2014-12-01

    Full Text Available In the current era of globalization, deregulation and liberalization of markets have led to financial integration amongst developing and developed countries. The sudden massive inflow of capital into developing country's stock markets begs the question of whether or not the markets are sufficiently efficient to handle the increasing integration of markets. Furthermore, the relationship between the integration and efficiency of stock markets tends to be of greater importance during economic downturns. Taking Turkey as a case study owing to its economic growth and importance in two successful blocs, i.e. the EU and the OIC, we attempt to analyse the linkages between stock market efficiency and integration during the different phases of the economy. The findings of our study provide an interesting insight into the relative improvement in volatility, efficiency and integration across business cycles, in a multi time scale analysis.

  13. Analyzing convergence and synchronicity of business and growth cycles in the euro area using cross recurrence plots

    Science.gov (United States)

    Crowley, P. M.

    2008-10-01

    Convergence and synchronisation of business and growth cycles are important issues in the efficient formulation of euro area monetary policy by the European Central Bank (ECB). Although several studies in the economics literature address the issue of synchronicity of growth within the euro area, this is the first study to address this issue using cross recurrence analysis. The main findings are that member state growth rates have largely converged since the introduction of the euro, but there is a wide degree of different synchronisation behaviours which appear to be non-linear in nature. These differences could cause problems in future implementation of a single (ECB-determined)monetary policy in the euro area.

  14. The business cycles and the influence of economic confidence indicators in the European region

    Directory of Open Access Journals (Sweden)

    Alexandru Constantinescu

    2012-06-01

    Full Text Available The economic confidence level is expressed by managers that are active in significant economic sectors. The financial markets consider these economic confidence indicators as leading instruments that can point the direction of the real economy. The level of trust in the economy is important because, similar with the stock investors behavior, the private sector managers or the consumers can act and carry a restrictive or a euphoric business policy, actions that could in fact affect the environment in a negative way and could unbalance the economic equilibrium.The role of this study is to propose a methodology of analyzing the influence of the economic confidence indicators over the stock market, an industry that can be overlooked as a transmission environment for the investment sentiment. We plan to study and comment the relation between these indicators, the stock market and future macroeconomic results like the GDP, the industrial production or the unemployment rate.

  15. Interpreting Business Cycles as Generalized Two-Dimensional Loops Using Penalized Splines Regression Techniques

    OpenAIRE

    Timo Teuber

    2013-01-01

    The two-dimensional circular structure model by Kauermann, Teuber, and Flaschel (2011) will be extended to estimate more than two time series simultaneously. It will be assumed that the multivariate time series follow a cycle over the time. However, the radius and the angle are allowed to smoothly change over the time and will be estimated using a Penalized Spline Regression Technique. The model will be put to life using the Leading, Coincident and Lagging Indicators provided by the Conferenc...

  16. Future changes in climate, ocean circulation, ecosystems, and biogeochemical cycling simulated for a business-as-usual CO2 emission scenario until year 4000 AD

    OpenAIRE

    A. Schmittner; Oschlies, Andreas; H. D. Matthews; E. D. Galbraith

    2008-01-01

    A new model of global climate, ocean circulation, ecosystems, and biogeochemical cycling, including a fully coupled carbon cycle, is presented and evaluated. The model is consistent with multiple observational data sets from the past 50 years as well as with the observed warming of global surface air and sea temperatures during the last 150 years. It is applied to a simulation of the coming two millennia following a business-as-usual scenario of anthropogenic CO2 emissions (SRES A2 until year...

  17. Book review: Schumpeter, J.A., 1934 (2008, The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest and the Business Cycle

    Directory of Open Access Journals (Sweden)

    Alin Croitoru

    2012-01-01

    Full Text Available Alin Croitoru / Book review: Schumpeter, J.A., 1934 (2008, The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest and the Business Cycle, translated from the German by Redvers Opie, New Brunswick (U.S.A and London (U.K.: Transaction Publishers

  18. 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.

  19. Political business cycles

    OpenAIRE

    Richard E. Wagner

    1990-01-01

    This is a collection of articles on how the government influences the economy in order to secure re-election. The economy is steered such that unemployment and inflation are as low as possible, and the growth of real income as high as possible during the election period. The collection contains forerunners to the analysis of this phenomenon, surveys emphasizing different aspects, empirical and the major theoretical approaches (vote maximization, partisan, and vote-cum-partisan models and rati...

  20. 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)

  1. 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.

  2. Survey report on trends of technical development on FBR cycle in Russia. Result report of business entrusted by the Japan Nuclear Cycle Development Institute

    International Nuclear Information System (INIS)

    This survey was carried out for aims to smoothly promote the FBR cycle cooperation carried out between the Japan Nuclear Cycle Development Institute and Nuclear Energy Agency in Russia Republic and to contribute their future cooperative planning, on a survey of technical developmental trend for items shown as follows: 1) recent trend on Russian FBR cycle technology, 2) Russian laws related on Russian FBR cycle cooperation, and 3) trends on separation and reprocessing technologies in Russia. Here was described on results on the survey, shown in the following items: 1) performing method, 2) Russian FBR fuel cycle; recent technical development, 3) basic laws on nuclear energy application in Russia, and 4) trends on separation and reprocessing technologies in Russia. (G.K.)

  3. 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...

  4. Leading Indicators Approach for Business Cycle Forecasting and a Study on Developing a Leading Economic Indicators Index for the Turkish Economy

    OpenAIRE

    Ali Murutoglu

    1999-01-01

    Business cycles, one of the main characteristics of developed countries’ economies, have begun to play an important role for the Turkish Economy. Especially after the 1994 crisis (which was one of the most severe one since the foundation of Turkish Republic) and the current slow-down of the economy (mainly because of the global crisis which stemmed from the south-east Asian countries and Russia), it has become vital to foresee the future of the economy (i.e. which phase the economy will be in...

  5. 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…

  6. The Historical Review of Modern Business Cycle Theory%现代经济周期理论的历史审视

    Institute of Scientific and Technical Information of China (English)

    丁志帆

    2013-01-01

    For the formation mechanism of economic cycle phenomena, different economic cycle theory interprets from dif-ferentiated perspective. Follow the economic cycle theory development skeleton, we recall the evolution of business cycle theo-ry since the great depression of the 1930s, and observe the background and main ideas of five main modern economic cycle theory. We find that: Firstly, there is no strictly" General Theory", business cycle theory only in the specific historical context have explanatory power, and maintain its vitality depends on continuous innovation and development; Secondly, although differ-ent economic cycles have different theoretical perspectives in the form mechanism of economic fluctuations, but modern west-ern economic theories gradual shift from confrontation toward integration; Thirdly, the emerging neo-classical economics which emerging since 1990s, provides theoretical basis for macroeconomic policy control system under the conditions of market econ-omy.%对于经济周期波动现象的形成机理,不同经济周期理论从差异化视角进行了解读。本文沿着经济周期理论的发展脉络,回顾了20世纪30年代大萧条以来经济周期理论的演进历程,对五种主要的现代经济周期理论的产生背景和主体思想进行了考察。研究发现:不存在严格意义上的“通论”,经济周期理论只在特定历史背景下才有解释力,其生命力的保持有赖于理论的不断创新与发展;虽然在经济波动的形成机理上,不同经济周期理论观点不一,但是西方现代经济周期理论逐渐从对立走向融合;20世纪90年代以来出现的新兴的新古典经济学为市场经济条件下的宏观经济政策调控体系提供了理论依据。

  7. Lengthening the life cycle of automobiles as a business idea : Case studies Fangmbeng & Son’s Shipping ay

    OpenAIRE

    Kika Fangmbeng, Ernest

    2011-01-01

    Nowadays there are plenty of cars which still can be used, for instance, as a source of spares part after they have been used for work, business, or pleasure. It is usual that those cars consume petrol or diesel and contribute to pollution of the atmosphere. But they could last with good services and repair for quite a long time, maybe for ten years or more. However there comes a time when the repairing does not pay. But for sure these cars can be used as spare parts storage for many other ca...

  8. 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。

  9. Doing Business Regional Profile 2016

    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...

  10. Dictionary of economics and business

    Energy Technology Data Exchange (ETDEWEB)

    Nemmers, E.E.

    1978-01-01

    The dictionary is designed to include the terms commonly used in courses in the following subjects: accounting, administration, business cycles, business law, business and government, business organization, econometrics, economics, economic theory, finance, insurance, international economics, investments, labor problems, management science, marketing, money and banking, operation research, personnel management, production, public finance, public utilities, real estate, securities, statistics, taxation, and transportation.

  11. Cycling more for safer cycling

    OpenAIRE

    VAN HOUT, Kurt

    2009-01-01

    Cycling presents a lot of benefits to the individual and to society. Health, environment, accessibility, local businesses, … all gain when more people cycle. Yet many governments are reluctant when it comes to promoting cycling, mainly because of (perceived) safety issues. Since studies have established a clear and consistent relationship between bicycle use and cyclist accident risk, this lack of bicycle promotion will influence the safety outcome of bicyclists. In this paper the relation be...

  12. The relationship between technological innovations and business cycles in the transition economy of China%我国转型经济中技术创新与经济周期关系研究

    Institute of Scientific and Technical Information of China (English)

    吴晓波; 张超群; 窦伟

    2011-01-01

    The relationship between technological innovations and business cycles in China' s transition economy is checked.First, existing relevant literature is reviewed to justify the existence of such relationship; second, statistical data is used to show the characteristics of China' s business cycles; third, beth GDP and patents data are adopted to explain the relationship between innovations and business cycles on the basis of the literature; fourth, the special transition economy of China is taken as a powerfid contextual factor and its effects are studied. It is concluded that technological innovation is the very fundamental cause of business cycles, but institutional innovation is an important conditional factor. Therefore, the recommandations that push forward technological innovation strongly, and make institutions keep pace with are made.%本文主要分析了在中国转型经济环境中技术创新与经济周期的关系.首先,回顾现有文献以证实这种关系的存在;第二,利用统计数据展示我国经济周期的特点;第三,在文献基础上,利用我国GDP和专利数据来解释技术创新和经济周期的关系;第四,基于我国转型经济的事实,将其作为背景因素来研究其影响;最后,我们认为技术创新是促使经济周期运行的最终原因,同时制度创新在其中起到了约束作用.必须在鼓励技术创新的同时,保持制度的及时跟进.

  13. Sewage Purification Business Process Management

    OpenAIRE

    Esad Ahmetagić; Blaženka Piuković; Dušan Lukić

    2011-01-01

    This paper presents the current level of drainage and sewage purification facilities built in the Autonomous Province of Vojvodina, a territorial unit of the Republic of Serbia. It also points out the issues related to organized business management in companies involved in this business.The management of business processes in sewage purification involves a comprehensive cycle: business organizing process, issues of standard, investments, workforce, and information system design as factors in ...

  14. Research of Fluctuation Measurements and Characteristics of China's Aviation Industry Business Cycle%我国航空工业经济波动的定量测度与特征研究

    Institute of Scientific and Technical Information of China (English)

    杨波

    2012-01-01

    通过HP滤波法测量,认为改革开放以来我国航空工业经济发展呈现出明显的周期性波动,存在古典周期和增长周期同时并存、大起大落向高位平缓增长逐步转变、稳定性和协调性显著增强等新特征。着重从政策变迁、产业调整、技术进步等方面对我国航空工业经济周期波动的形成机理进行了分析,并据此提出烫平经济波动的对策建议。%Through the analysis of HP filtering method,china's aviation industry shows obviously cyclical fluctuation since reform,and new features of coexisting the classical cycle and growth cycle at the same time,transfering from change radically to high smoothly,enhancing of the stability and coordination.This paper analyzes formation mechanism of aviation industry business cycle from policy changing,industrial restructure,technological progress and other factors,and putting forward some advises of smoothing business cycle.

  15. Capital Adjustment, Risk Control and Business Cycle%资本调整、风险控制与宏观经济周期

    Institute of Scientific and Technical Information of China (English)

    刘胤; 吴俊; 张宗益

    2011-01-01

    本文将经济周期、市场结构等外部宏观因素,以及贷款拨备、管理效率等微观银行特征引入研究框架,构建实证检验的联立方程模型,运用GMM方法,采用2004~2009年23家主要城市商业银行数据,从周期性特征的视角对其资本和风险调整的内生互动行为及其影响因素进行实证分析。结果显示,中国城市商业银行资本和风险调整行为之间存在非对称互动影响,其风险行为呈现明显的周期性;盈利能力、成本管理效率对城市商业银行提升资本水平作用有限;严格的资本监管、市场集中度的降低都有利于城市商业银行提升资本充足水平,但对其降低风险的作用有限。%The paper introduces macro-economic factors, such as business cycle and market structure, and bank's microcharacteristics, such as loan povisioning and management efficiency into the analysis framework, and establishes a simultaneous equations model. With the data of 23 major city commercial banks between 2004 and 2009, GMM is employed to empirically analyze the endogenous interaction relationship between capital adjustment and risk-taking adjustment and affecting factors from the perspective of cyclical characteristics. The results show that the association between changes in capital and risk is asymmetric; the risk-taking behaviors are cyclical; earnings power and cost management efficiency fail to show significant impact on capital increase; both strict capital regulation and the decrease of bank concentration have positive impact on capital adequacy, but their influence on reducing risk is limited.

  16. 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....

  17. Nonlinear Characteristics of Chinese Business Cycle-Based on LSTAR Model%基于LSTAR模型的中国经济周期非线性特征分析

    Institute of Scientific and Technical Information of China (English)

    司颖华

    2014-01-01

    已有关于我国经济周期非线性特征研究中所选均为 GDP 等单变量数据,而宏观经济景气一致指数(CI)能够更全面地反映经济周期的特征。所以,本文针对我国1991年1月至2012年12月的月度宏观景气一致指数,通过检验,分别建立了两机制和三机制LSTAR模型,探讨了我国经济周期波动的非对称性和持续性以及经济在各个波动阶段之间转换的内在演化机理。实证研究表明,把经济周期阶段划分为紧缩、恢复和扩张三个机制。与划分为紧缩和扩张的两体制相比,在整体拟合效果和对经济增长结构的解释能力方面都有显著提高。因此,本文为我国经济周期的划分和非线性特征分析提供了更科学的方法。%Usually,single variable is used in analysis of nonlinear characteristic of Chinese business cycle, but Coincident Index(CI) can more fully reflect the characteristics of the business cycle. So, this paper, using Chinese Coincident Index between January 1991 and December 1991, respectively, sets up two and three mechanism of LSTAR model, discussing the asymmetry of Chinese business cycle fluctuation and sustainability, and economic in the internal evolution mechanism of the transformation between the fluctuation phase. Empirical studies show that the economic cycle phase is divided into three: contraction、recovery and expansion mechanism. Compared with the division into contraction and recession regimes, the overall fitting effect and the explanation power structure on economic growth have improved significantly. Therefore, the paper provides a more comprehensive and more scientific method for the division of Chinese business cycle and nonlinear characteristics.

  18. Business Plan

    OpenAIRE

    Neterda, Karel

    2012-01-01

    The objective of the diploma thesis is aimed at business plan for real estate agency. Theoretical part of the thesis focuses on basic definitions regarding new company establishment. As follows: business laws, legal form of companies, business grants and structure of the business plan. Practical part describes a business plan for real estate agency and evaluate the business environment and current competition through these methods: Porter Five Force Model, SWOT -- and PEST analyses. Further, ...

  19. Innovating Platform Business Models

    OpenAIRE

    Moser, Daniel; Gassmann, Oliver

    2016-01-01

    Digitalization, connected products and services, and shortening innovation cycles are widely discussed topics in management practice and theory and demand for new concepts. Platforms are such a concept and find successively entry into a growing number of companies. However, research did not yet address how business models for platforms can be innovated. Thus, we build on a multi-case study and analyze how three major companies, Amazon, Apple and Google innovated their business models. We foun...

  20. 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)

  1. Transportation Business Plan

    International Nuclear Information System (INIS)

    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

  2. Business plan

    OpenAIRE

    Monakov, Victor

    2011-01-01

    The aim of this bachelor's thesis is to prepare a business plan for web design courses in Prague and feasibility & efficiency evaluation of this type of business. In the theoretical part of my bachelor's thesis, I focus on important terms, structure and aspects of a business plan. In the practical part, I apply theoretical knowledge and create a real business plan.

  3. 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…

  4. Business intelligence

    Directory of Open Access Journals (Sweden)

    Cebotarean Elena

    2011-02-01

    Full Text Available Business intelligence (BI refers to computer-based techniques used in spotting, digging-out, and analyzing business data, such as sales revenue by products and/or departments, or by associated costs and incomes. BI technologies provide historical, current, and predictive views of business operations. Common functions of business intelligence technologies are reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, text mining, and predictive analytics. Business intelligence aims to support better business decision-making. Thus a BI system can be called a decision support system (DSS. Though the term business intelligence is sometimes used as a synonym for competitive intelligence, because they both support decision making, BI uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while competitive intelligence gathers, analyzes and disseminates information with a topical focus on company competitors. Business intelligence understood broadly can include the subset of competitive intelligence.

  5. 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.”...

  6. Models of Business Internationalisation

    Directory of Open Access Journals (Sweden)

    Jurgita Vabinskaitė

    2011-04-01

    Full Text Available The study deals with the theoretical models of business internationalisation: the “Uppsala” Internationalisation Model, modified “Uppsala” model, the Eclectic Paradigm and analysis of transactional costs, Industrial Network approach, the Advantage Package and the Advantage Cycle.Article in Lithuanian

  7. Business continuity

    International Nuclear Information System (INIS)

    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

  8. Business analysis

    CERN Document Server

    Paul, Debra; Cadle, James

    2010-01-01

    Throughout the business world, public, private and not-for-profit organisations face huge challenges. Business analysts must respond by developing practical, creative and financially sound solutions. This excellent guide gives them the necessary tools. It supports everyone wanting to achieve university and industry qualifications in business analysis and information systems. It is particularly beneficial for those studying for ISEB qualifications in Business Analysis. Some important additions since the first edition (2006): the inclusion of new techniques such as Ishikawa diagrams and spaghe

  9. 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....

  10. 我国货币政策周期与经济周期之间的关联性研究%Studies on the Relationships between the Monetary Policy Cycels and Business Cycles

    Institute of Scientific and Technical Information of China (English)

    刘金全; 王雄威

    2012-01-01

    Since the Reform and Open-up,expansions and contractions superceded with each other during the implement of China's monetary policy,thus forming significant operational cycles.In order to measure the effects of monetary policy,we need to construct an interaction mechanism between the operational cycles of monetary policy and business cycles.Based on the test results,this paper singles out 9 contractions of monetary policy during the chosen samples.Moreover,3 out of these 9 contractions brought about decreases in output,while they contains all the output decreases since 1996.This indicates that interrelationship does exist between monetary policy cycles and business cycles,and the implement of monetary policy follows a "discretion" way to some extent.%改革开放以来,我国的货币政策出现了多次紧缩和扩张之间的交替,形成了显著的货币政策周期。下行经济周期往往都是发生在货币紧缩政策结束之后。为了度量货币政策作用效果,我们需要建立货币政策周期与经济周期之间的内在关联机制,并从众多的反映宏观经济状态的指标从中选取合适的预测指标来反映其内在机制。通过实证检验发现,我国自1996年以来共出现了3次产出增长率的下降,而这3次产出降低都发生在紧缩性货币政策结束之后。这说明我国货币政策周期与经济周期之间存在密切关联,货币政策操作也存在相机选择的内生属性,并且M1同比增速和金融机构新增短期贷款能够更准确地预测在紧缩性货币政策实施之后是否会出现下行经济周期。

  11. Business support within business incubators

    NARCIS (Netherlands)

    Ratinho, Tiago; Harms, Rainer; Groen, Aard

    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 cruci

  12. Macroeconomic factors that affected business cycles before the 50s, after the 80s and during the intermediate period: empirical findings on the US economy

    OpenAIRE

    Vergos, Konstantinos; Christopoulos, A.; Kosteletou, L.

    2010-01-01

    The aim of this paper is twofold. On the one hand, it is investigated which is the effect of macroeconomic factors in income growth, as defined by IS-LM, and on the other hand it is examined which is the relation between these factors and economic cycles. The aim of this paper goes further and examines whether the magnitude of the effect of these factors to GDP growth remains intact over time. The examination periods includes the years 1930-1949, 1950-1979 and 1980-2008. According to the resu...

  13. Business plan

    OpenAIRE

    Poulová, Markéta

    2012-01-01

    The subject of this thesis is to handle the business of the project for the already existing Goat farm High – for Cross breeding goats, engaged in the production of goat's milk and its subsequent processing into dairy products. The work is divided into theoretical and practical part. The theoretical part of the work defines the theoretical definition of business project and its individual parts. There are defined the basic features of the business project, characterized by the concept of r...

  14. Business plan

    OpenAIRE

    Bekesheva, Karina

    2013-01-01

    This Bachelor`s thesis is a business plan of the event agency. It consists of two parts: theoretical and practical. Theoretical part is based on theory from books and other re-sources. In theoretical part there are some definitions about entrepreneurship, business plan and some strategic analyses tools. In addition, it includes the history of entrepre-neurship in Kazakhstan. Practical part is focused on creation the business plan. It in-volves some external and internal analyses, marketing st...

  15. 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...

  16. 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.…

  17. 海峡两岸经济周期协动性的现状与趋势%Study on the Co-movement of Business Cycles of Both Sides across the Taiwan Strait

    Institute of Scientific and Technical Information of China (English)

    王华

    2011-01-01

    利用中国大陆和台湾地区GDP增长率反映海峡两岸的经济周期波动,针对二者的相关分析表明,1990年以来,海峡两岸经济周期已经呈现一定程度的协动性特征,并且这种协动性具有不断增强的趋势。在经济周期协动性的传导机制方面,直观判断,两岸贸易往来与台商对大陆投资是经济周期波动的重要传导渠道,但世界市场经济景气波动的冲击影响也不容忽视。由于受两岸经济规模和结构的差异、两岸经贸交流的不对称性、大陆对外开放程度较低、以及经济运行规律之外政治干扰和政策限制等因素的影响,两岸经济周期协动性还未完全呈现其应有规模。%The paper has measured the correlation between business cycles of both sides across the Taiwan Strait, which is denoted with the GDP Growth rates of mainland China and Taiwan district. It concludes that the increasingly visible co-movement of business cyc

  18. 银行信贷、经济周期与货币政策调控:1984-2011%Bank Credit, Business Cycles and Monetary Policy: 1984--2011

    Institute of Scientific and Technical Information of China (English)

    李连发; 辛晓岱

    2012-01-01

    Given the fact that credit expansion has been an important driving force of modern business cycle, this paper builds an extended Svensson model, which incorporates credit expansion and business cycle features, to study the driving factors and macroeconomic implications of credit expansions induced by the extrapolation bias in estimating credit losses. It is found that, using China's data since 1984, after the credit expansion, the inflation pressure lasts at least 7 quarters while the output gap cease to rise after about 4 quarters. It also concludes that the optimal change in credit aggregates could enhance macroeconomic stability if it were well directed. The cointegration analysis shows that the reserve ratios are high when credits are expanded. It is suggested to keep monitoring and directing the credit aggregates closely.%鉴于银行信贷已成为现代经济波动的重要驱动因素之一,本文构建了一个包含银行信贷与经济周期特征的Svensson扩展模型,考察了由贷款损失推断偏差等因素所导致的银行信贷扩张及其宏观效应。通过对我国1984年以来的季度数据分析发现,信贷扩张发生后产出缺口扩大的趋势仅持续4个季度左右,而通胀压力则会持续7个季度以上;信贷总量的适度逆周期调整有助于减少宏观经济的波动和福利损失;信贷总量还与存款准备金率变化之间存在协整关系。应继续密切关注信贷总量变动,并合理引导。

  19. Sewage Purification Business Process Management

    Directory of Open Access Journals (Sweden)

    Esad Ahmetagić

    2011-09-01

    Full Text Available This paper presents the current level of drainage and sewage purification facilities built in the Autonomous Province of Vojvodina, a territorial unit of the Republic of Serbia. It also points out the issues related to organized business management in companies involved in this business.The management of business processes in sewage purification involves a comprehensive cycle: business organizing process, issues of standard, investments, workforce, and information system design as factors in establishing an effective organization of business processes. The definition of gap existing between the current approach to organizing business activities and the need to establish an approach based on knowledge, information technologies, and effective business process management points to the necessity for organization redesign and standard definition in business process management. Sewage purification business process management in Vojvodina, the Republic of Serbia has been elaborated through theoretical presentation and a practical example realized by electronic ISO 9001:2008 system of quality management in public water utility company JKP "Vodokanal" Sombor.

  20. 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....

  1. Business valuation

    OpenAIRE

    Kropáček, Matěj

    2012-01-01

    The diploma thesis is concerning the problematic of business valuation of Nestlé Česko. The estimated value of the company refers to 31. 12. 2012. Within business valuation, diploma thesis comprises several analyses such as SWOT analysis, PEST analysis, Porter five forces analysis and financial analysis. The yield method of discounted free cash flow to the firm (FCFF) was applied to the business valuation. The comparison of company Nestlé Česko with its closest competitor in terms of basic fi...

  2. The Service Sentiment Indicator - A Business Climate Indicator for the German Business - Related Services Sector

    OpenAIRE

    Kaiser, Ulrich; Buscher, Herbert S.

    1999-01-01

    No other area of the German economy has developed so emphatically in the past ten years as that of business-related services. Regardless their growing importance, business-related services still play only a minor role in official statistics. Above all, official statistics do not provide up-to-date information on the state of the business cycle of this sector. In a situation where such quantitative information is lacking, data obtained from business surveys give important guidelines to the sta...

  3. Business Anthropology

    DEFF Research Database (Denmark)

    Moeran, Brian

    2015-01-01

    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...... 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...... what a future program for business anthropology might look like and suggests four areas for theoretical development against a background of education, engagement, and comparative work. These are an examination of structures of power in, between, and dependent on business organizations of all kinds...

  4. Environmental Business

    International Nuclear Information System (INIS)

    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.

  5. Family Business

    OpenAIRE

    UNAI ARTECHE

    2003-01-01

    Family Business, Pitzhanger Manor. Curated by Danielle Arnaud and Matthew Poole. The artists in the exhibition explore how their 'authorship' or 'individuality' is expressed as images. Here, artworks are produced that deal with the public face of the personal, private or local. In brief, the thematic of this exhibition is interested in the consequence and legitimacy of 'individual choice' as a genre or style. Hence, Family Business looks to artworks that claim, utilise and reflect upon lan...

  6. 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.

  7. AREVA Business and Strategy overview April, 2010

    International Nuclear Information System (INIS)

    This document is a series of slides presenting AREVA's activities in the framework of CO2-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)

  8. 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

  9. Ontology-based metrics computation for business process analysis

    OpenAIRE

    Carlos Pedrinaci; John Domingue

    2009-01-01

    Business Process Management (BPM) aims to support the whole life-cycle necessary to deploy and maintain business processes in organisations. Crucial within the BPM lifecycle is the analysis of deployed processes. Analysing business processes requires computing metrics that can help determining the health of business activities and thus the whole enterprise. However, the degree of automation currently achieved cannot support the level of reactivity and adaptation demanded by businesses. In thi...

  10. Almost Periodically Correlated Time Series in Business Fluctuations Analysis

    CERN Document Server

    Lenart, Lukasz

    2012-01-01

    We propose a non-standard subsampling procedure to make formal statistical inference about the business cycle, one of the most important unobserved feature characterising fluctuations of economic growth. We show that some characteristics of business cycle can be modelled in a non-parametric way by discrete spectrum of the Almost Periodically Correlated (APC) time series. On the basis of estimated characteristics of this spectrum business cycle is extracted by filtering. As an illustration we characterise the man properties of business cycles in industrial production index for Polish economy.

  11. A business case method for business models

    OpenAIRE

    Meertens, L.O.; Starreveld, E.; Iacob, M.E.; Nieuwenhuis, L.J.M.; 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...

  12. Family business

    OpenAIRE

    KLUZÁKOVÁ, Lucie

    2009-01-01

    This thesis focuses on family business companies and above all on their problem of succession planning. For the purposes of this work, I have chosen a family business company that is owned by two shareholders. Both shareholders are going to leave the company within next 5 to 10 years. The thesis deals with the succession plan of both shareholders and this concerning the rate of preparedness as well as the rate of coordination of both plans. Prior to the research, two hypotheses were fixed. Th...

  13. 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...

  14. 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...

  15. Unfinished Business

    Science.gov (United States)

    Tuckett, Alan

    2011-01-01

    Adult learning is not a tidy business: adults fit learning into the spaces left by the other demands on complex lives, and into the spaces left in administrative structures overwhelmingly designed for other people. No simple metric can capture adults' diverse purposes and achievements, and no single programme can capture the full range of things…

  16. 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...

  17. Business link

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Baotou Hongbo technology Co.,Ltd was registered in Baotou Rare Earth High-Tech Development Zone in 2008.The company is integrated with scientific research and development,production and trade business.Main products include individual and mixed light rare earth salts,oxides and metals,phosphors and so on.

  18. Business Intelligence

    OpenAIRE

    Strejčková, Lucie

    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...

  19. 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...

  20. Business Blooming

    Institute of Scientific and Technical Information of China (English)

    MARK GRAHAM

    2008-01-01

    @@ Florist Sebastien Lathuile was in no doubt of the business potential in Shanghai from the moment he arrived on a personal visit, some five years ago. The Frenchman returned immediately home to London,where he had been working,put his flat on the market, and began making plans to set up in the east-coast city.

  1. Human Capital and Business Cycle Persistence

    OpenAIRE

    Roberto Perli; Plutarchos Sakellaris

    1996-01-01

    In this paper we show that a two sector model with human capital is able to generate persistence in output growth comparable to that observed in the postwar U.S. data. The key feature is a relatively low elasticity of substitution between human capital and raw labor in the production of human capital.

  2. Changing Credit Limits, Changing Business Cycles

    DEFF Research Database (Denmark)

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

    economies, since credit constraints become non-binding more often. As expansionary shocks may make credit constraints non-binding, while contractionary shocks cannot, recessions become deeper than expansions. The non-monotonic relationship between credit market conditions and macroeconomic fluctuations...

  3. Financing asset sales and business cycles

    OpenAIRE

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

    2014-01-01

    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...

  4. Stock Market Volatility and the Business Cycle

    OpenAIRE

    Burkhard Raunig; Johann Scharler

    2010-01-01

    In this paper we provide a review of the literature on the link between stock market volatility and aggregate demand. In particular, we focus on the implications of the so-called uncertainty hypothesis according to which it is primarily the uncertainty associated with stock market fluctuations that influences aggregate demand. Empirical studies find that stock market volatility indeed feeds back into the real economy.

  5. Tempory agency work and the business cycle

    NARCIS (Netherlands)

    M. de Graaf-Zijl; E.E. Berkhout

    2008-01-01

    Abstract: Purpose - The purpose of this paper is to test the relationship between gross domestic product (GDP) and agency work. Design/methodology/approach - The paper develops a theoretical model for the time interdependence of GDP, agency work and regular employment and tested model predictions us

  6. The Limits of Schumpeter's Business Cycles

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2006-01-01

    also makes a deliberate analytical delimitation: the emphasis on economic evolution and the placement of institutional change as an external factor. This definition of the task did not allow Schumpeter to make a full-blown study of the history of capitalist evolution. To some extent, he overcame...

  7. Job Search Behavior over the Business Cycle

    OpenAIRE

    Mukoyama, Toshihiko; Patterson, Christina; Şahin, Ayşegül

    2013-01-01

    We create a novel measure of job search effort starting in 1994 by exploiting the overlap between the Current Population Survey and the American Time Use Survey. We examine the cyclical behavior of aggregate job search effort using time series and cross-state variation and find that it is countercyclical. About half of the countercyclical movement is explained by a cyclical shift in the observable characteristics of the unemployed. Individual responses to labor market conditions and drops in ...

  8. Substantive Cause of Macroeconomic Fluctuations:Real Business Cycle (RBC) Theory%宏观经济波动的实体性成因--真实经济周期(RBC)理论评析

    Institute of Scientific and Technical Information of China (English)

    王征

    2014-01-01

    Real business cycle theory belongs to the Liberal School of the western economics. It breaks through the monetary cycle theory, and takes the accident real impacts such as the technology impact from supply aspect as the cause of economic lfuctuations, and denies the views that economic lfuctuation is a deviation from the long-term economic growth trend and macro economy can be divided into long-term and short-term. RBC theory insists on currency neutral position and against the government's intervention policies. It illustrates the macroeconomic lfuctuations by the orthodox microeconomic theory, and changes people's understanding on the reasons for economic cyclical lfuctuation, and then transcends the monetary doctrine and new classical macroeconomics. We could say that RBC theory is major development of liberalism economics since the 1980s .%真实经济周期理论属于西方经济学中的经济自由流派。它突破了货币周期理论,把来自供给方面的技术冲击等意外真实冲击看作是经济波动的根源;认为经济波动不是对长期经济增长趋势的偏离,否定把宏观经济分为长期和短期的观点;坚持货币中性主张;反对政府的干预政策。它以正统的微观经济理论来说明宏观经济波动,改变了人们对经济周期性波动原因的理解,超越了货币主义和新古典宏观经济学,是20世纪80年代以来自由主义经济学的重大发展。

  9. 基于微观经济基础的真实商业周期理论分析——2004年诺贝尔经济学奖对中国的启示%The Theoretical Analysis of Real Business Cycle on the Base of Microeconomic Foundation--The Revelation of Nobel Economics Award in 2004 for China

    Institute of Scientific and Technical Information of China (English)

    李建阳; 朱启贵

    2005-01-01

    The 2004 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel goes to the researchers whose contribution concerns two closely related areas of macroeconomic research: the time consistency problem of macroeconomic policy making and the driving forces behind business cycles. This paper gives a detailed and thorough introduction to the methodologies and contributions of the prizewinning theories. In the context of political and economic environment, this paper demonstrates the application possibility of Kydland and Prescott's analysis in China。

  10. 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

  11. Small Business Innovations (Cryostat)

    Science.gov (United States)

    1991-01-01

    General Pneumatics Corporation, Scottsdale, AZ, developed an anti- clogging cryostat that liquifies gases by expansion for high pressure through a nozzle to produce cryorefrigeration based on their Kennedy Space Center Small Business Innovation Research (SBIR) work to develop a Joule-Thomson (JT) expansion valve that is less susceptible to clogging by particles or condensed contaminants in the flow than a non-contaminating compressor in a closed cycle Linde-Hampson cryocooler used to generate cryogenic cooling for infrared sensors, super conductors, supercooled electronics and cryosurgery.

  12. Synchronizing Business & Systems with Business Objects

    OpenAIRE

    Saha, Pallab; Srinivasan, R.

    2001-01-01

    More and more businesses are becoming highly dependent on their information systems (IS) to operate and manage themselves. This necessitates a formal methodology to express business concepts, business processes and events that both business managers and IS professionals can understand and communicate with. The result of this understanding can be quick correction of business systems and operations that are more efficient. This paper introduces the concepts and uses of business objects and outl...

  13. BUSINESS ECOSYSTEMS VS BUSINESS DIGITAL ECOSYSTEMS

    OpenAIRE

    Marinela Lazarica

    2006-01-01

    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 ecosyste...

  14. 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.

  15. Business Leksikon

    OpenAIRE

    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 reception, text production, translation and knowledge acquisition. The main aspects addressed are presentation of lemmata, structure and presentation of definitions, grammatical information and diasy...

  16. Social Business

    OpenAIRE

    Maria Cristina ENACHE

    2015-01-01

    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...

  17. Photovoltaic business

    OpenAIRE

    Štefan, Petr

    2011-01-01

    The work is focused on business photovoltaic performance as one of the alternative sources of electrical power. Theoretical part was created by quoting work up documents. Literature search was divided into several parts. The first part revolves around the solar radiation and its advantages and disadvantages. In the second part is speaking about the variations of using solar energy from heating the water to generate electric energy. It also deals with photovoltaic power plants in the world and...

  18. 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 bo

  19. A business case method for business models

    NARCIS (Netherlands)

    Meertens, L.O.; Starreveld, E.; Iacob, M.E.; Nieuwenhuis, L.J.M.; 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 alter

  20. 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.

  1. Business ethics

    OpenAIRE

    Petráková, Helena

    2009-01-01

    This bachelor's thesis deals with the topic - business ethics. Concretely, it gives the example of ethics in the sphere of undertaker's. There are stated all of the needed terms and definitions. There is also said how ethics influenced people throw the history. Furthermore, you can find the difference between ethics and etiquette. These two terms are often misunderstood but they cohere. To make firms work well, you need to give them some rules. Code of ethics may be part of the solution.That ...

  2. Research and Practice on the Whole Life Cycle Test Method in the Process of Continuous Business Evolution%业务持续演进过程中全生命周期测试方法的研究与实践

    Institute of Scientific and Technical Information of China (English)

    王昊; 陈伯慧; 周文斌; 郭军

    2015-01-01

    How to guarantee quality in the process of continuous business evolution is an important problem in the China Unicom's information construction. This article proposes a set of whole business life cycle test method which includes the process of the whole business life cycle testing, agile cooperative mode, reusable testing assets, performance monitoring and early warning platform and so on from the aspects of process, management, technologies and tools. And it introduces the practice results based on the project of communication networks combination of Shenyang, Fushun and Tieling.%如何在业务系统持续演进过程中确保质量已经成为联通信息化建设中的关键问题.文章从过程、管理、技术和工具四个层面,提出一套在持续演进过程中业务全生命周期测试的方法,包括业务全生命周期测试过程、敏捷协作模式、可复用测试资产、性能监测预警平台等,并以沈抚铁并网项目为背景,介绍实践成果.

  3. Business model engineering: creating non-linear growth effects for service innovations

    OpenAIRE

    Kijl, B.; Ehrenhard, M.L.; Wijnhoven, A.B.J.M.; Nieuwenhuis, L.J.M.; Boersma, D.

    2012-01-01

    Every service innovation needs a viable business model in order to create and capture value. Strikingly, most of the current literature is focused on business model design only, whereas almost no attention is given to business model validation and implementation – let alone experimentation with components of business models. The goal of this study is to demonstrate, with the help of a (quantitative) business model engineering tool, how a continuous cycle of business model design, validation, ...

  4. An engineering approach to business model experimentation – an online investment research startup case study

    OpenAIRE

    Kijl, Björn; Boersma, Durk

    2010-01-01

    Every organization needs a viable business model. Strikingly, most of current literature is focused on business model design, whereas there is almost no attention for business model validation and implementation and related business model experimentation. The goal of the research as described in this paper is to develop a business model engineering tool for supporting business model management as a continuous design, validation and implementation cycle. The tool is applied to an online invest...

  5. 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 ...

  6. Sosiaalinen media business to business -markkinoinnissa

    OpenAIRE

    Eskelinen, Mervi

    2009-01-01

    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...

  7. 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.

  8. PSYCHOLOGY OF FAMILY BUSINESS

    OpenAIRE

    Taylyakova, Feruzahon

    2014-01-01

    This article analyzes the basic psychological characteristics of family businesses. The author describes the psychological properties that contribute to improve individual and family businesses. The article also discusses mental properties adversely affect the development of a family business.

  9. Analysis of Business Models

    OpenAIRE

    Slavik Stefan; Bednar Richard

    2014-01-01

    The term business model has been used in practice for few years, but companies create, define and innovate their models subconsciously from the start of business. Our paper is aimed to clear the theory about business model, hence definition and all the components that form each business. In the second part, we create an analytical tool and analyze the real business models in Slovakia and define the characteristics of each part of business model, i.e., customers, distribution, value, resour...

  10. 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

  11. 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 ...

  12. Transforming Software Business Models into Business Processes

    OpenAIRE

    Schief, Markus; Bonakdar, Amir; Weiblen, Tobias

    2012-01-01

    Changed business models, such as induced by Software-as-a-Service, require an effective implementation in a firm's organization. This study clarifies the relation between business models as an implementation of a company's strategy, and business processes, as an abstraction of a company's operations. The presented transformation framework provides specific meaning to the industrial setting of a software vendor morphing to a SaaS model. Both underlying concepts, the business model and the valu...

  13. 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...

  14. Business modelling agility: Turning ideas into business

    OpenAIRE

    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 both with regard to the right moment as well as speed of implementing competitive concepts becomes crucial. In this conceptual paper we discuss and evaluate possibilities for shortening the lead-time...

  15. 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...... 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...... with hypotheses and experiment with scenarios as a way of innovating their business models, and why this is so...

  16. 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...

  17. Interactive Pinball Business

    DEFF Research Database (Denmark)

    Buur, Jacob; Gudiksen, Sune

    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...... 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...... with hypotheses and experiment with scenarios as a way of innovating their business models, and why this is so....

  18. 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…

  19. 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).

  20. How the U.S. economy resembles a (very) big business

    OpenAIRE

    Campbell, Jeffrey R.

    2008-01-01

    This article presents basic tools for measuring different business lines’ contributions to the U.S. economy’s business cycles, and it applies these to measure the exposure of a large conglomerate to macroeconomic risks.

  1. Business Structures

    Directory of Open Access Journals (Sweden)

    J. Gilkey

    2013-06-01

    Full Text Available The newspaper industry has absorbed a tremendous financial impact during the last three years in revenues and bottom lines. As a whole, industry players were slow to react to ever-changing marketplace dynamics. Newspapers report on other companies and industries in their business pages every day. However, they failed to listen to and heed some of the advice and counsel they offered on those some pages. As they have to come to acknowledge the trend, it has triggered a re-evaluation of the company’s organizational structure on the revenue and expense sides of the equation. The change in revenue streams had become so extreme that many large newspaper groups have opted to file bankruptcy in order to continue operations while relieving themselves of crushing loan payments and obsolete labor agreements. The newspaper industry, as a whole, is a capital-intensive one, with heavy investment required for printing and equipment for compiling and collating revenue-rich inserts, along with fleets of delivery trucks and vans

  2. 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

  3. 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.

  4. Befuddling Business Casual

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@ "Business casual"has taken on a negative ring,though the English call it "smart casual"which sounds a little more stylish.Popularized by IT businesses as an alternative to"international standard business attire,"business casual holds Steve Jobs and Bill Gates up as its paragons.

  5. 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) F

  6. The business of petroleum exploration

    International Nuclear Information System (INIS)

    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

  7. Global Business Models

    DEFF Research Database (Denmark)

    Rask, Morten

    regarding the customer interface and in an upstream perspective regarding the supply infrastructure. The paper offers a coherent conceptual dynamic meta-model of global business model innovation. Students, scholars and managers within the field of international business can use this conceptualization...... to understand, to study, and to create global business model innovation. Managerial and research implications draw on the developed ideal type of global business model innovation.......Firms internationalizing their activities work with business model innovation understood as the creation, or reinvention, of the business itself so that the combination of innovation with internationalization makes the business model play an integrative role. This paper aims to integrate basic...

  8. 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...

  9. Business Gift Giving Etiquette

    OpenAIRE

    Paris, Dubravka

    2015-01-01

    Business world today is faced with cultural similarities and cultural gaps. Every business person should be familiar with the business etiquette, in order to avoid a cultural faux pas. The topic of this paper is business gift giving in various parts of the world with the special emphasis on the English speaking countries. It comprises the basic rules of business gift giving etiquette, the types of gifts, especially the difference between the gifts for clients, the gifts for employees and the ...

  10. Internationalization of Family Businesses

    DEFF Research Database (Denmark)

    Boyd, Britta; Hollensen, Svend; Goto, Toshio

    2010-01-01

    This article focuses on the international joint venture formation process of family businesses. The reasoning behind Danfoss’ decision to cooperate with two competing family businesses in Japan and China as well as two nonfamily businesses in Canada and Britain will be analysed. In...... the formation process including competences and cultures. The study indicates what core competences of a family business matter when cooperating in equal split joint ventures. Implications for family business owners and ideas for future research are discussed....

  11. Social Business Models

    OpenAIRE

    Maria Cristina Enache; Corina Sbughea

    2015-01-01

    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 t...

  12. Fundamentals of Business

    OpenAIRE

    Skripak, Stephen J.

    2016-01-01

    Fundamentals of Business (2016) is an openly licensed (CC BY NC SA 3.0) textbook designed for use in Virginia Tech’s Pamplin College of Business introductory level business course, MGT1104 Foundations of Business. This work is a project of University Libraries and the Pamplin College of Business, Virginia Tech.Lead Author: Stephen J. SkripakContributors: Richard Parsons, Anastasia Cortes, Anita WalzLayout: Anastasia Cortes Selected graphics: Brian Craig http://bcraigdesign.comCover design:...

  13. 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...... of transparency.3 These dimensions allow for a critical examination of transparency and demonstrate some inherent tensions between what is revealed and concealed in communication between business and society. This, in turn, addresses the notion of knowledge that leads to new possibilities for understanding...

  14. Smart Business Networks Design and Business Genetics

    OpenAIRE

    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 the quick connect of business partners for selected functions in a process common to several parties, literature does not provide constructive methods whereby the selection of temporary partners and...

  15. Automatic generation of optimal business processes from business rules

    OpenAIRE

    Steen, Bas; 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. Therefore, in principle one could devise (automated) transformations from business rules to business processes. These transformations should improve the quality (correctness) of business processes, by im...

  16. A Structured Debriefing Process for International Business Culture Simulations.

    Science.gov (United States)

    McGraw, Peter; Palmer, Ian

    1999-01-01

    Outlines a nine-step structure for debriefing an international business culture simulation. Stresses the need to address three stages in the experiential learning cycle: reflection, processing, and transfer. Appendices include the specific simulation used and a debriefing note. (DB)

  17. Biogeochemical Cycling

    Science.gov (United States)

    Bebout, Brad; Fonda, Mark (Technical Monitor)

    2002-01-01

    This lecture will introduce the concept of biogeochemical cycling. The roles of microbes in the cycling of nutrients, production and consumption of trace gases, and mineralization will be briefly introduced.

  18. Business Value Game

    Science.gov (United States)

    Marchenko, Artem; Duarte, Vasco

    Agile teams want to deliver maximum business value. That’s easy if the on-site Ccstomer assigns business value to each story. But how does the customer do that? How can you estimate business value? This workshop is run as a game, where teams have to make tough business decisions for their ”organizations”. Teams have to decide which orders to take and what to deliver first in order to earn more. The session gives the participants basic business value estimation techniques, but the main point is to make people live through the business situation and to help them feel the consequences of various choices.

  19. 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

  20. Business idioms in America

    CERN Document Server

    Stirling, Bruce

    2012-01-01

    Meet Joan Austen, a rising star in the advertising business. Joan's company is taking off and you have a front row seat as Joan and her staff resolve business and personal challenges during a typical business day in New York City. By entering Joan's world, you will acquire the latest and the most commonly used vocabulary in business today. Best of all, you will gain the skills and confidence you need to succeed in any English-speaking business environment anywhere in the world. * Over 2,000 essential business idioms and phrases * Perfect for classroom and for self-study * Lessons designed t

  1. Business plans made easy

    CERN Document Server

    Press, Entrepreneur

    2005-01-01

    Business Plans Made Easy, 3rd Edition is the latest incarnation of the essential guide for creating a high-impact business plan that will turn an entrepreneur's dreams into reality. Revised and updated, the book expands the helpful business plan summaries and adds new examples of real-life business plans. Tips about information technology and an added business plan for artists increase the scope of the book. The useful forms, worksheets and financial statements have been updated to reflect recent changes in the business world, and an added "expert advice" section at the end of each chapter giv

  2. 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

  3. 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)

    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

  4. Business Models For Transport eBusiness

    OpenAIRE

    Dragan Cisic; Ivan Franciskovic; Ana Peric

    2003-01-01

    In this paper authors are presenting expectations from electronic commerce and its connotations on transport logistics. Based on trends, the relations between the companies in the international transport have to be strengthened using Internet business models. In the paper authors are investigating e-business information models for usage in transport

  5. 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)

  6. Business environment and Russian Small Business

    OpenAIRE

    Rubzova, O.

    2013-01-01

    The paper deals with factors hampering the development of small business in the monopoly-dominated Russian economy. It is suggested that more activism on the part of small business organizations is required to foresee the enforcement of the legislation promoting competition

  7. 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 t

  8. What is the Business of Business?

    DEFF Research Database (Denmark)

    Lystbæk, Christian Tang

    2014-01-01

    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......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...... 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...

  9. Analysis of stock prices of mining business

    Science.gov (United States)

    Ahn, Sanghyun; Lim, G. C.; Kim, S. H.; Kim, Soo Yong; Yoon, Kwon Youb; Stanfield, Joseph Lee; Kim, Kyungsik

    2011-06-01

    Stock exchanges have a diversity of so-called business groups and much evidence has been presented by covariance matrix analysis (Laloux et al. (1999) [6], Plerou et al. (2002) [7], Plerou et al. (1999) [8], Mantegna (1999) [9], Utsugi et al. (2004) [21] and Lim et al. (2009) [26]). A market-wide effect plays a crucial role in shifting the correlation structure from random to non-random. In this work, we study the structural properties of stocks related to the mining industry, especially rare earth minerals, listed on two exchanges, namely the TSX (Toronto stock exchange) and the TSX-V (Toronto stock exchange-ventures). In general, raw-material businesses are sensitively affected by the global economy while each firm has its own cycle. We prove that the global crisis during 2006-2009 affected the mineral market considerably. These two aspects compete to control price fluctuations. We show that the internal cycle overwhelms the global economic environment in terms of random matrix theory and overlapping matrices. However, during the period of 2006-2009, the effect of the global economic environment emerges. This result is well explained by the recent global financial/economic crisis. For comparison, we analyze the time stability of business clusters of the KOSPI, that is, the electric/electronic business, using an overlapping matrix. A clear difference in behavior is confirmed. Consequently, rare earth minerals in the raw-material business should be classified not by standard business classifications but by the internal cycle of business.

  10. Business Game Learning Environment

    NARCIS (Netherlands)

    Kirschner, Paul A.; Valcke, Martin; Van Vilsteren, Paul

    2010-01-01

    Kirschner, P. A., Valcke, M., & Van Vilsteren, P. (1997) Business Game Learning Environment. Design and development of a competency-based distance education business curriculum at the Open University of the Netherlands.

  11. 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....

  12. Business Tax in China

    Institute of Scientific and Technical Information of China (English)

    RICHARD; HOFFMANN

    2009-01-01

    Business tax is a tax payable against turnover by all enterprises and individuals undertaking the following business activities:providing taxable services, including communication, transport, construction, finance and insurance, telecom, culture,

  13. Liquidating a Chinese Business

    Institute of Scientific and Technical Information of China (English)

    RICHARD; HOFFMANN

    2009-01-01

    With the global economic crisis hitting some businesses in China very hard as export sales dry up, now is a timely occasion to remind executives of affected businesses of their responsibilities when having to

  14. 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...

  15. Doing Business in Mexico

    OpenAIRE

    World Bank; International Finance Corporation

    2006-01-01

    This report investigates the scope and manner of regulations that enhance business activity and those that constrain it. Quantitative indicators on business regulations and their enforcement have been created for 12 cities and states, which can now be compared with Mexico City, and to 154 countries around the world. The indicators cover four "Doing Business" topics: starting a business, registering property, getting credit and enforcing contracts. The 12 cities and states are: Aguascalientes,...

  16. Integrated business development

    OpenAIRE

    Koppers, Carina; Klumpp, Matthias

    2010-01-01

    Business Development traditionally has an incorporated focus on marketing and marketing models as well as marketing competencies among business development managers. However, the discussed case studies results and trends in business and market behaviour point to the fact that in the future only an integrated model of business development (including logistics, supply and quality management models and activities, respectively personnel) can provide significant competitive advantages especially ...

  17. Securitization and small business

    OpenAIRE

    Wilcox, James A.

    2011-01-01

    Small businesses have relied considerably on securitized markets for credit. The recent financial crisis led to a virtual cessation of securitization of some of the loans used by small businesses, such as commercial real estate mortgages, vehicle, and credit card loans. In addition, values of commercial and residential real estate, which small businesses often use as collateral for loans, dropped dramatically. As a consequence, small businesses may have experienced tighter credit conditions t...

  18. 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

  19. Successful business model innovation

    OpenAIRE

    Breiby, Eivind; Wanberg, Magnus Haug

    2011-01-01

    A global CEO study conducted by IBM in 2006 showed that business model innovation has a higher correlation with operating margin growth than any other type of innovation. It is therefore not surprising that business model innovation is a buzzword increasingly seen in business jargon and literature. However, the field is quite novel and finding ways of approaching and understanding the subject has been more elusive. This thesis presents a comprehensive and academically founded approach to busi...

  20. Business plan (tennis school)

    OpenAIRE

    Sirghi, Evgeniya

    2011-01-01

    The main task of this work is to develop a comprehensive business plan for startup sports business that will offer training services. In my final Diploma study I am working on the creation of business plans for the company with a few years vision, I am developing a strategy which takes into account precise construction of finance planning, market penetration and number of employees. The business plan will analyze the current market situation, competition and the probability of company develop...

  1. KSF of family business

    OpenAIRE

    Boroš, Petr

    2014-01-01

    Family business is a business in which family members have a large stake in ownership and also a deciding vote on business operation. This thesis deals with what makes the family businesses thriving. The research is conducted using the Good to Great framework by Jim Collins. Based mainly on quantitative and qualitative survey of 8 Czech companies of various fields and sizes, it was discovered that there are some links between the companies' success. These findings yield a set of recommendatio...

  2. Business Plan SMEs

    OpenAIRE

    Oppolzerová, Eva

    2009-01-01

    The study presents a business plan for a firm which offers fishing services. The study consist of a theoretical part and a practical part. In the theoretical section the small and medium enterprises are specified, especially the family business and there are characteristics of the form, structure and terms of the business plan. The practical section focuses on elaboration of the business plan for the particular firm. It includes description of all activities, market analysis, financial plan, ...

  3. 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.

  4. 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 th

  5. 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, the...

  6. 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)

  7. Business Model Innovation

    OpenAIRE

    FOSS, NICOLAI; Stieglitz, Nils

    2014-01-01

    We draw on the complementarity literature in economics and management research to dimensionalize business models innovations. Specifically, such innovation can be dimensionalized in terms of the depth and the breadth of the changes to the company’s business model that they imply. In turn, different business model innovations are associated with different management challenges and require different leadership interventions to become successful.

  8. The Business Education Curriculum

    Science.gov (United States)

    Rader, Martha; Meggison, Peter

    2007-01-01

    The business education curriculum encompasses the educational experiences of business students at all levels. Business education curricula include a variety of programs, courses, units, course objectives, student competencies, assessments, and extracurricular activities that have evolved over the years. Curricula are driven by numerous internal…

  9. 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…

  10. SOCIAL MEDIA IN BUSINESS

    OpenAIRE

    ХАДАРЦЕВА Л.С.; ДЗАХОЕВА С.Л.

    2015-01-01

    This article discusses frequently used business applications for social media, including recruiting, employee engagement and communication, tools for business intelligence, and expanding learning opportunities among employees. Social media are becoming powerful business tools. They are helping employers with everything, beginning from recruitment to communications. These applications turn social media into collaborative tools to improve work and product.

  11. Business model innovation paths

    NARCIS (Netherlands)

    Chesbrough, H.; Di Minin, A.D.; 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 t

  12. Liquidating a China Business

    Institute of Scientific and Technical Information of China (English)

    RICHARD; HOFFMANN

    2009-01-01

    With the global economic crisis hitting some businesses in China very hard as export sales dry up, now is a timely occasion to remind executives of affected businesses of their responsibilities when having to liquidate a business. China-based subsidiaries may

  13. Business Communication Strategies

    OpenAIRE

    Lavinia Hulea

    2005-01-01

    General communication processes rely on messages implying contents, communication channels, a receiver and clear objectives. Once accepting the importance of defining objectives, three strategies, narrative, implicative, and decisional, seem to be specific for most business communications. While narrative business communications convey information with a view of simply transmitting information and depend on accuracy, complexity, and clarity, implicative business communications convey informat...

  14. FES cycling.

    Science.gov (United States)

    Newham, D J; Donaldson, N de N

    2007-01-01

    Spinal cord injury (SCI) leads to a partial or complete disruption of motor, sensory, and autonomic nerve pathways below the level of the lesion. In paraplegic patients, functional electrical stimulation (FES) was originally widely considered as a means to restore walking function but this was proved technically very difficult because of the numerous degrees of freedom involved in walking. FES cycling was developed for people with SCI and has the advantages that cycling can be maintained for reasonably long periods in trained muscles and the risk of falls is low. In the article, we review research findings relevant to the successful application of FES cycling including the effects on muscle size, strength and function, and the cardiovascular and bone changes. We also describe important practical considerations in FES cycling regarding the application of surface electrodes, training and setting up the stimulator limitations, implanted stimulators and FES cycling including FES cycling in groups and other FES exercises such as FES rowing.

  15. Corporate Business Diplomacy

    DEFF Research Database (Denmark)

    Søndergaard, Mikael

    2014-01-01

    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......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....... The usefulness of an analytical research triangulation is illustrated....

  16. Business in the Grid

    CERN Document Server

    Schikuta, Erich; Donno, Flavia; Stockinger, Heinz; Vinek, Elisabeth; Wanek, Helmut; Witzany, Christoph; Haq, Irfan Ul

    2009-01-01

    From 2004 to 2007 the Business In the Grid (BIG) project took place and was driven by the following goals: Firstly, make business aware of Grid technology and, secondly, try to explore new business models. We disseminated Grid computing by mainly concentrating on the central European market and interviewed several companies in order to gain insights into the Grid acceptance in industrial environments. In this article we present the results of the project, elaborate on a critical discussion on business adaptations, and describe a novel dynamic authorization workflow for business processes in the Grid.

  17. Business model - HUB Praha

    OpenAIRE

    Centnerová, Michala

    2010-01-01

    Social business is type of business, which primary objective is very different from the profit-driven business. Social business objective is to create an added value to society and achieve at least some profit, which serves as a means to achieve this goal. For my thesis I have chosen a business model analysis of the new organization Hub Prague, which is a representative of a social entrepreneurship and which has entered Czech market in 2010. I have examined mainly its income and expenditures ...

  18. 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....

  19. 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...

  20. 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 the book within your reach. We call it “Our Corporate Bible”. In an easily comprehendible way we address some of the most essential issues of business law, and provide guidelines and clarity for understanding and proper application of the legal provisions that govern business law in Europe....

  1. 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)

  2. 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.

  3. 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.

  4. 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.

  5. Business-to-Business Electronic Commerce

    OpenAIRE

    David Lucking-Reiley; Daniel F. Spulber

    2001-01-01

    This paper, prepared for the Journal of Economic Perspectives, provides an overview of the economic issues arising in business-to-business (B2B) online commerce. Just as the industrial revolution mechanized firms' manufacturing functions, the information revolution is now mechanizing firms' marketing functions. Industry insiders have forecast tremendous growth in B2B e-commerce, most predicting transaction volumes in the trillions of dollars by 2005. We begin by defining the scope of B2B e co...

  6. 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.

  7. Strategic business rules for business process intelligence : An oracle prototype

    Directory of Open Access Journals (Sweden)

    Rajeev Kaula

    2014-01-01

    Full Text Available Business process intelligence aims to provide timely information to improve business process effectiveness and align it with business objectives in order to compete successfully in the marketplace. Generally such information not only improves an organizations ability to accomplish business objectives, but may also lead to the identification of information that could facilitate competitive advantage. This paper outlines an approach to develop an information flow model that involves the specification of activity dimensions during business process modeling to develop dimensional models to identify process metrics through strategic business rules that aligns a business process with business objectives. The paper illustrates the concepts through a marketing business process Lead to forecast prototype which is implemented in Oracle’s PL/SQL language.   Keywords: Business Intelligence, Business Process, Business Process Metrics, Business Process Intelligence, Business Rules.

  8. Business model transformation process in the context of business ecosystem

    OpenAIRE

    Heikkinen, A.-M. (Anne-Mari)

    2014-01-01

    It is current phenomena that business environment has changed and has set new requirements for companies. Companies must adapt to the changes comes from outside its normal business environment and take into consideration wider business environment where it operates. These changes also have set new demands for company business model. Companies Business models need to be changed to match state of art business environment and requirements. Business models can be competitive advantage to the comp...

  9. 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...

  10. 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.

  11. Discovering the Business Studio

    DEFF Research Database (Denmark)

    Barry, Daved; Meisiek, Stefan

    2015-01-01

    considerably in form, ranging from temporary “pop up” studios to dedicated facilities with full-time staff, with the primary purpose of educating managers in craft, art, and design-based approaches to business problems. The jury on the studio phenomenon is out—can they deliver on their educational promise...... the value that studios might have for management education, provide examples of four different business studio orientations and how these might translate into practice, and highlight what we believe to be some essentials when starting and running a business studio.......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...

  12. 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.

  13. Business and biodiversity

    DEFF Research Database (Denmark)

    Andersen, Rasmus Meyer; Lehmann, Martin; Christensen, Per

    - a challenge that needs to be shared between conservationists, green organisations, public authorities, as well as the private sector. A new wave of green initiatives has emerged within the culture of business and marketing. The reasons for why businesses should engage in environmental actions are many......, but the effort has until now considered biodiversity actions relatively little, compared to other areas such as e.g. climate related actions. Nevertheless, the opportunity for businesses to meet their responsibilities and lift a share of the challenge is far from being just a romantic thought. Nor...... is the challenge of engaging businesses in responsible actions. The core challenge is to create awareness of the environmental phenomenon biodiversity, inform about the significance of business involvement, and encourage the business world to participate in this process of protecting biodiversity as the valuable...

  14. Journal of Business Chemistry

    OpenAIRE

    2013-01-01

    The Journal of Business Chemistry examines issues associated with leadership and management for chemists and managers working in chemical research or industry. This journal is devoted to improving and developing the field of Business Chemistry. The Journal of Business Chemistry publishes peer-reviewed papers (including case studies) and essays. Areas for possible publication in include: leadership issues in the chemical and biochemical industry, such as teamwork, team building, mentoring, coa...

  15. Business processes optimization possibilities

    OpenAIRE

    Mitreva, Elizabeta; Taskov, Nako; Filiposki, Oliver; Boskov, Tatjana

    2013-01-01

    In this paper we propose a model and opportunities for better performance, greater efficiency and effectiveness of companies, through optimization of the business processes, change of corporate culture and manners of taking full advantage of the business potential. The benefits of implementation of this model not only increase business results of companies and will continue to serve as the driving force for a continuous improvement, but also increasing the commitment of the top management and...

  16. 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.

  17. Succession in Family Business

    OpenAIRE

    Zheng, Ting

    2009-01-01

    Abstract In the development of the world’s enterprises, family enterprises always have a very important role. And the succession problem is also related with the development of the family business deeply. So the succession problem is always the hot topic among the management scholars. How to deal with succession in family business issues will be directly related to the continuing operations of enterprises. Nowadays, Chinese family businesses enter the peak time of succession. Analysis of ...

  18. 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...... business applications comprise, (2) a neural foundation of transactional analysis (TA) to improve corporate collaboration and management, (3) a combined health promotion/human resource development program based on simple training techniques as physical exercise, medical meditation and neurolinguistic...

  19. Economics and business economics.

    OpenAIRE

    Francesco Silva

    1993-01-01

    The comparison between Economics and Business Management allows the clarification of some of their characteristics and limits as regards method, language, and objectives. Secondly, it allows the verification of the reciprocal contribution relating to research. For such a comparison, the object of study, the method, and the objectives of Economics and Business Management are taken into consideration distinguishing; so far as Business Management is concerned, between the Italian and American tr...

  20. 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. PMID:12024761

  1. Business Model Innovations

    OpenAIRE

    Makarov, Daniil

    2012-01-01

    The thesis covers the phenomenon of business model innovation. It provides with theoretical background of the concept based on the works of several scientists who stand at the beginnings of the discipline. The paper also introduces the principles of design thinking applied to business model innovation in order to get superior results and serve as a guideline for ideation processes and presenting enhancements to existing business models. The practical part is devoted to applying the described ...

  2. Business in the Grid

    OpenAIRE

    Schikuta, Erich; Weishaeupl, Thomas; Donno, Flavia; Stockinger, Heinz; Vinek, Elisabeth; Wanek, Helmut; Witzany, Christoph; Haq, Irfan Ul

    2009-01-01

    From 2004 to 2007 the Business In the Grid (BIG) project took place and was driven by the following goals: Firstly, make business aware of Grid technology and, secondly, try to explore new business models. We disseminated Grid computing by mainly concentrating on the central European market and interviewed several companies in order to gain insights into the Grid acceptance in industrial environments. In this article we present the results of the project, elaborate on a critical discussion on...

  3. Partnerships in BOP business

    OpenAIRE

    Hietapuro, Marjo

    2011-01-01

    Objective of the study The purpose of this study was to find out what kinds of partnerships companies form in base of the pyramid (BOP) business, i.e. business aimed at alleviating poverty in subsistence markets. Although partnerships have been frequently promoted in previous BOP literature, very comprehensive studies on the topic have not been made before. Data and methodology The research was conducted as a multiple-case study, including data on 20 BOP business models of both fo...

  4. Licensing and Business Models

    OpenAIRE

    Onetti Alberto; Verma Sameer

    2008-01-01

    License affects software companies’ business activities. While proprietary software vendors create custom licenses, open source companies have less flexibility. The Open Source Initiative (OSI) defines a list of 72 licenses as open source (“OSI approved”). For a project to follow open source licensing, it has to pick licenses from this set. Logically, we expect that an open source company defines its business model around the license that it selects. Thus, we can assume that business model de...

  5. 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 of these anarchist hauntings, this paper identifies and...

  6. Business ethics & collective responsibility

    OpenAIRE

    Dempsey, James A.

    2013-01-01

    The idea that ‘business ethics’ picks out a distinct discipline within ethical theory is contentious; in particular, it is unclear why theoretical approaches to moral and political philosophy cannot satisfactorily address ethical concerns in the context of business activity, just as they can in the context of other human activities. In response, I argue that some features of the business environment require more focused analysis than currently available. This environment is characterised by t...

  7. 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...

  8. Measuring Business Model Transformation

    OpenAIRE

    Di Valentin, Christina; Weiblen, Tobias; Pussep, Anton; Schief, Markus; Emrich, Andreas; Werth, Dirk; Loos, Peter

    2012-01-01

    Pressure amongst competitors combined with a rapidly changing economy drive enterprises to continuously adapt their current business models to prevail over competitors. Business models nowadays must be flexible enough to cope with external or internal changes and therefore should be managed and controlled dynamically. Hence, enterprises must be aware of the interconnections between the strategic level and the operational level of business processes for being able to adjust their current busin...

  9. Analyzing business process management

    OpenAIRE

    Skjæveland, Børge

    2013-01-01

    Within the Oil & Gas Industry, the market is constantly growing more competitive, forcing companies to continually adapt to changes. Companies need to cut costs and improve the business efficiency. One way of successfully managing these challenges is to implement business process management in the organization. This thesis will analyze how Oceaneering Asset Integrity AS handled the implementation of a Business Process Management System and the effects it had on the employees. The main goal...

  10. Business Ethics in CSR

    OpenAIRE

    Birkvad Bernth, Camilla; Houmøller Mortensen, Kasper; Calles, Mark Benjamin; Wind, Martin; Saalfeldt, Rie

    2013-01-01

    This project seeks to dissect the advent of CSR in business practice from the view of ethics. We perform this by laying out the theories of CSR, business ethics, deontology and utilitarianism. We then use the case studies of Lundbeck, The Body Shop, and British American Tobacco, to dissect some productions of CSR. These are compared to the above mentioned theories on ethics. We conclude that business ethics and CSR are only as good as the ethical base upon which they are built.

  11. Aventura Business Plan

    OpenAIRE

    Shirvani, Ramin

    2012-01-01

    Aventura is a full service company that will provide complete consulting service, providing high-level expertise in project management, specifically towards operational risk of outsourcing. The three types of main outsourcing expertise Aventura will provide is Business Process Outsourcing, Application Outsourcing and Bundled Outsourcing. Aventura will serve small business clients, which are in need of logistical, technical and business strategy services. The number one item that Aventura w...

  12. Simulating Online Business Models

    OpenAIRE

    Schuster, Stephan; Gilbert, Nigel

    2004-01-01

    The online content market for news and music is changing rapidly with the spread of technology and innovative business models (e.g. the online delivery of music, specialised subscription news services). It is correspondingly hard for suppliers of online content to anticipate developments and the effects of their businesses. The paper describes a prototype multiagent simulation to model possible scenarios in this market. The simulation is intended for use by business strategists and has been d...

  13. Business Small company

    OpenAIRE

    KREJČOVÁ, Kateřina

    2011-01-01

    This diploma work deals with a Business Small company. The work moves on the concrete company, which is analyzed and on the basis of analyses the new strategy is formulated. At the theoretical part, summary of solving problems is introduced. It’s needed for the analytic part of work. At the beginning, business is defined in economic terms. Found in this part are basic concepts that are linked to business. From the general definition of business the work fluently proceeds to more concrete...

  14. What is Business Anthropology?

    DEFF Research Database (Denmark)

    Albu, Oana Brindusa; Larsen, Frederik; Sigurdarson, Hallur;

    2013-01-01

    place at the Copenhagen Business School in 2012 under the title of ‘The Business of Ethnography’. The purpose of the workshop was to create a forum in which to discuss business anthropology as an emerging field or sub-discipline of anthropology. The paper considers three conditions (reflexivity......, familiarity, and temporality) which give the mise en abyme configuration of the field – the site where action happens – and pose significant challenges to contemporary business ethnographers. We argue that by acknowledging these three factors one can advance easier towards the ambitious goal of rendering...

  15. Fuel cycles

    International Nuclear Information System (INIS)

    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

  16. Fes cycling

    Directory of Open Access Journals (Sweden)

    Berkelmans Rik

    2008-01-01

    Full Text Available Many research with functional electrical stimulation (FES has been done to regain mobility and for health benefits. Better results have been reported for FES-cycling than for FES-walking. The majority of the subjects during such research are people with a spinal cord injury (SCI, cause they often lost skin sensation. Besides using surface stimulation also implanted stimulators can be used. This solves the skin sensation problem, but needs a surgery. Many physiological effects of FES-cycling has been reported, e.g., increase of muscles, better blood flow, reduction of pressure ulcers, improved self-image and some reduction of bone mineral density (BMD loss. Also people with an incomplete SCI benefit by FES-cycling, e.g. cycling time without FES, muscle strength and also the walking abilities increased. Hybrid exercise gives an even better cardiovascular training. Presently 4 companies are involved in FES-cycling. They all have a stationary mobility trainer. Two of them also use an outdoor tricycle. One combined with voluntary arm cranking. By optimizing the stimulation parameters the power output and fatigue resistance will increase, but will still be less compared to voluntary cycling.

  17. 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.

  18. Modern Organization of Entrepreneurial Business

    Directory of Open Access Journals (Sweden)

    Liudmila Rosca-Sadurschi

    2013-08-01

    Full Text Available 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.

  19. 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…

  20. Business Economics Courses for Business Students: A Note.

    Science.gov (United States)

    Douglas, Evan J.

    1979-01-01

    Suggests that business students should be offered business-related economics courses on subjects such as managerial economics and business conditions analysis. Philosophy and content of these courses are suggested. (DB)

  1. Alignment of Business Process Management and Business Rules

    NARCIS (Netherlands)

    Zoet, Martijn; Versendaal, Johan; Ravesteijn, Pascal; Welke, Richard

    2011-01-01

    From the article: Business process management and business rules management both focus on controlling business activities in organizations. Although both management principles have the same focus, they approach manageability and controllability from different perspectives. As more organizations dep

  2. Entrepreneurship: The Art of Keeping Businesses in Business.

    Science.gov (United States)

    Glenn, Joanne Lozar

    2003-01-01

    Discusses the factors that affect the success of new businesses, what aspiring entrepreneurs must understand, the relationship between entrepreneurship and basic business, the effectiveness of experiential learning, and how to integrate entrepreneurship into business classes. (JOW)

  3. THE ROLE OF BUSINESS INTELLIGENCE IN BUSINESS PERFORMANCE MANAGEMENT

    OpenAIRE

    Babeanu Delia; Albescu Felicia; Pugna Irina Bogdana

    2009-01-01

    Business performance management (BPM) is a key business initiative that enables companies to align strategic and operational objectives with business activities in order to fully manage performance through better informed decision making and action. Effec

  4. Building Tomorrow's Business Today

    Science.gov (United States)

    Ryan, Jim

    2010-01-01

    Modern automobile maintenance, like most skilled-trades jobs, is more than simple nuts and bolts. Today, skilled-trades jobs might mean hydraulics, computerized monitoring equipment, electronic blueprints, even lasers. As chief executive officer of Grainger, a business-to-business maintenance, repair, and operating supplies company that…

  5. The Business Modeling Lab

    DEFF Research Database (Denmark)

    Buur, Jacob; Mitchell, Robb

    2011-01-01

    This paper presents a set of techniques for modelling business in rich, tangible formats. These tangible formats were developed in companies and educational settings and have proven extraordinarily successful in initiating conversations about how to innovate business in cross-disciplinary and cross...... to the success we cannot yet explain....

  6. Business Schools at Risk.

    Science.gov (United States)

    BizEd, 2002

    2002-01-01

    Explores pervasive forces, such as faculty shortages, pressures to enhance curricular relevance, and intense, worldwide competition, that are threatening traditional business schools. Describes recommendations reached by the Management Education Task Force formed by the Association to Advance Collegiate Schools of Business, which addressed these…

  7. BUSINESS LETTERS GENRE PECULIARITIES

    OpenAIRE

    Derbishewa Khadizat Askhabalievna

    2013-01-01

    Purpose Authentic business letters are classified according to lexico-phraseological collocations used in them. Methodology Semiotic method, descriptive method, method of continuous sampling. Practical implications The paper is of interest for specialists in the fields of Text linguistics, English for Specific Purposes and Business English.

  8. GLOBALIZATION AND BUSINESS ETHICS

    OpenAIRE

    Khadartseva, L.; Agnaeva, L.

    2014-01-01

    It is assumed that local conditions of markets may be different, but some global markets, ethics and social responsibility principles should be applicable to all markets. As markets globalize and an increasing proportion of business activity transcends national borders, institutions need to help manage, regulate, and police the global marketplace, and to promote the establishment of multinational treaties to govern the global business system

  9. 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…

  10. Business Model Innovation Leadership

    DEFF Research Database (Denmark)

    Lindgren, Peter

    2012-01-01

    When SME´s practice business model (BM) innovation (BMI), leading strategically BMs through the innovation process can be the difference between success and failure to a BM. Business Model Innovation Leadership (BMIL) is however extremely complex to carry out especially to small and medium size...

  11. Teaching Business Online

    Science.gov (United States)

    MacKillop, Robyn

    2010-01-01

    Business is integral to the functioning of the national economy, politics, education and everyday living. It is without question that business education is a vital part of the high school experience, and should be seen as required courses rather than electives. Preparing high school students for real life beyond high school happens in the business…

  12. E-Business Technologies

    OpenAIRE

    Carmen TIMOFTE

    2007-01-01

    Internet technologies have revolutionized the business world by creating a global online marketplace. Appropriate understanding for the technologies and the impact of different design choices of technologies (including the Internet and open systems) dramatically affects both functional and non-functional aspects of the e-business solution.

  13. E-Business Technologies

    Directory of Open Access Journals (Sweden)

    2007-01-01

    Full Text Available Internet technologies have revolutionized the business world by creating a global online marketplace. Appropriate understanding for the technologies and the impact of different design choices of technologies (including the Internet and open systems dramatically affects both functional and non-functional aspects of the e-business solution.

  14. Epistemic Virtues in Business

    NARCIS (Netherlands)

    de Bruin, Boudewijn

    2013-01-01

    This paper applies emerging research on epistemic virtues to business ethics. Inspired by recent work on epistemic virtues in philosophy, I develop a view in which epistemic virtues contribute to the acquisition of knowledge that is instrumentally valuable in the realisation of particular ends, busi

  15. Mind Your Own Business

    Science.gov (United States)

    Nixon, Judith M.; Kirkwood, Hal P., Jr.

    2004-01-01

    Like any well-run company deciding on what products and services to offer, a good library should pay attention to customer demand when it is building its business reference collection. What kind of information do business patrons want? Most are looking for company and industry details: a corporate address or name of an officer, financial data for…

  16. 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 a

  17. The Business of Life.

    Science.gov (United States)

    Dunski, Jonathan F.

    1997-01-01

    Describes a learning game called The Business of Life that demonstrates the cellular processes of photosynthesis and respiration as business transactions. Incorporates the ideas that energy flows through ecosystems as well as through cells of individual organisms. Demonstrates the interdependence of living things and that processes at the cellular…

  18. RISK MANAGEMENT IN BUSINESS

    OpenAIRE

    Corina Ducu; Mihaela Mãrãcine

    2011-01-01

    The business environment is more competitive than ever and it is characterized by risk, uncertainty, speed and volatility. The concept of risk in business is inextricably linked to the concept of profitability and flexibility. The result of the company (profit or loss) is influenced by unexpected events that accompany its activity.

  19. A Risky Business?

    DEFF Research Database (Denmark)

    Blasco, Maribel

    2003-01-01

    that business leaders are seeking to create consensus and form alliancesamong civil society around the topic of insecurity, both to combat crime but also as a strategy tostrengthen links with civil society and improve the image of business, which has suffered due to theincreasing resonance of anti...

  20. Impact of Commitment to Business Ethics to Nonfinancial Business Performance

    OpenAIRE

    Vig, Silvija; Dumičić, Ksenija

    2016-01-01

    The article investigates the relationship between commitment to business ethics and nonfinancial business performance. Data of commitment to business ethics and nonfinancial business performance were collected from 100 participants through a questionnaire survey. The survey was conducted in 2015 in Croatian large and medium sized companies. The questionnaire for assessing commitment to business ethics contained nine different dimensions while the nonfinancial business performance contained th...

  1. Business Networks and Cooperation in International Business Relationships

    OpenAIRE

    Desirée Blankenburg Holm; Kent Eriksson; Jan Johanson

    1996-01-01

    Cooperative relationships between firms can be better understood if they are examined in the context of a network of connected business relationships. Based on research on business relationships and business networks, this paper formulates a LISREL model that analyses cooperation in international business relationships between suppliers and customer firms. Theory suggests that cooperation can raise the value of business relationships, and that business network connections have an impact on co...

  2. Family-Owned Businesses: Determinants of Business Success and Profitability

    OpenAIRE

    Wallace, Jeffrey S.

    2010-01-01

    The purpose of this study was to examine many factors associated with family-owned businesses that lead to business success and profitability. The panel data used in this study came from the 1997 and 2000 waves of the National Family Business Study (NFBS). Many independent variables from the 1997 wave (e.g., age, gender, managerial activities, business size, home-based, business problems) were tested to predict business success and profitability (dependent variables), which were variables f...

  3. Compliant and flexible business processes with business rules.

    OpenAIRE

    Goedertier, Stijn; Vanthienen, Jan; Regev, G.; Soffer, P; R. Schmidt

    2006-01-01

    When modeling business processes, we often implicitly think of internal business policies and external regulations. Yet to date, little attention is paid to avoid hard-coding policies and regulations directly in control-flow based process models. The standpoint of this analysis is the role of business rule modeling in achieving business process flexibility. In particular, it is argued that flexible business process models require business rules as a declarative formalism to capture the semant...

  4. 中国电力行业周期波动特征及电力需求影响因素分析——基于景气分析及误差修正模型的研究%Characteristics of Electricity Industry Cycle Fluctuation and Influential Factors of Electricity Demand Based on Business Analysis and the Error Correction Model

    Institute of Scientific and Technical Information of China (English)

    刘畅; 高铁梅

    2011-01-01

    2008年的国际金融危机使我国电力消费需求快速下降,而宏观经济却保持正增长,这一现象使人们怀疑数据的真实性.本文使用景气分析方法建立了电力行业景气指数,分析了2000年以来电力行业的周期波动特征,并使用月度数据建立了误差修正模型,研究了影响电力行业波动的长期经济因素和短期动态调整效应.研究结果表明,电力行业景气与宏观经济波动具有一致的变化趋势,但波动幅度不同;工业经济增长、高耗电行业结构、库存及电力需求之间存在稳定的长期均衡关系,工业经济增长和经济结构重型化是影响电力需求的最重要因素,库存与电力需求之间存在显著负相关关系;从金融危机时期电力行业波动的谷底来看,工业经济下滑和高耗电行业结构变化是电力行业周期波动出现深谷的主要原因,特别地,由于市场需求变化引起的库存调整能够导致电力需求更剧烈的波动;无论是长期还是短期,电价对电力需求的影响都不显著.%Due to the outbreak of the global financial crisis and its impact on the real economy in China, China' s electricity consumption demand reduced significantly. In the second half of year 2008, the contradiction that electricity consumption declination was accompanied with GDP growth occurred. The authors examined characteristics of cyclical fluctuation of the electricity industry, the relationship between the electricity industry cycle and macro economic cycle, and factors affecting changes in electricity consumption. Using monthly macro and performance data across the period January 1999-November 2009, the authors first constructed the business indexes for China' s electricity industry with business analysis methods to analyze characteristics of the electricity industry cycle and fluctuation since 2000. With the time difference correlation analysis and cyclical pattern matching methods, the authors selected

  5. 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...... in a structured and comprehensive way. Such a tool is useful for obtaining an overall view of the working logic of the firm and to facilitate innovation through change. The main contribution of this paper is to transform management theories into an instrument that can be helpful for companies to develop...

  6. Crowdsourcing Business Model Innovation

    DEFF Research Database (Denmark)

    Waldner, Florian; Poetz, Marion

    Successfully adapting existing business models or developing new ones significantly influences a firm?s ability to generate profits and develop competitive advantages. However, business model innovation is perceived as a complex, risky and uncertain process and its success strongly depends...... on whether or not firms are capable of understanding and addressing their customers? needs. This study explores how crowdsourcing-based search approaches can contribute to the process of business model innovation. Drawing on data from a crowdsourcing initiative designed to develop ideas for new business...... models in the podcast industry, we provide first exploratory insights into the value of crowdsourcing for innovating a firm?s business model, and discuss which characteristics of crowd-contributors increase the quantity and quality of the outcome....

  7. Understanding Social Business

    DEFF Research Database (Denmark)

    Vatrapu, Ravi

    2013-01-01

    “Social business” refers to the utilization of online social channels to conduct business. This chapter situates the notion of social business in the relevant macro trends in technology, business, and society and discusses the three critical aspects of social business: social business engagement......, social media analytics, and social media management. Social media engagement concerns the organization’s strategic use of social media channels to interact with its internal and external stakeholders for purposes ranging from knowledge management to corporate social responsibility and marketing. Social...... media analytics refers to the collection, storage, analysis, and reporting of social data emanating from the social media engagement of and social media conversations about the organization. Social media management focusses on the operational issues, managerial challenges, and comparative advantages...

  8. English Business Correspondence

    Institute of Scientific and Technical Information of China (English)

    柯仁爱

    2014-01-01

    Against the background of economic globalization and regional integration, nations with their respective competitive advantages and disadvantages are becoming increasingly interdependent. Any country should learn how to utilize foreign resources as a source of its raw materials, a market of its finished products and an opportunity of obtaining the most advanced technology to improve its own comprehensive national strength. China has undergone more than twenty years’ reform and opening to the outside world, with China’s entry into WTO,international economic and technological cooperation and exchanges become more and more popular in China. People in business, whatever their titles are,spend a lot of time exchanging information with their foreign counterparts.Whenever there is an exchange, misunderstanding which is costly to business is likely to occur. However, appropriate business correspondence is given high evaluation and facilitates the achievement of business transaction. The competence of communicating effectively in business correspondence may bring great benefit for both the individuals and organizations.

  9. Business Communications Students Demonstrate Realistic Business Practices.

    Science.gov (United States)

    Lehman, Carol M.

    1987-01-01

    Suggests that business communication students can improve their management and communications skills by forming teams and playing the roles of corporate employees, including holding stockholders' meetings, drawing up reports, discussing new products, and in general honing their professional appearance and conduct. (JC)

  10. ACADEMIC MOTIVATION FOR BUSINESS INFORMATION SYSTEMS STUDENTS

    Directory of Open Access Journals (Sweden)

    Catalin Maican

    2015-05-01

    Full Text Available Academic Motivation Scale (AMS was applied to Business Information Systems students for finding out their reasons and motives for enrolling this academic field, for undergraduate and postgraduate academic cycles. The students were presented the AMS scale translated in Romanian, together with other questionnaires. The first part of the paper makes a short introduction to AMS, the second describes its objectives, while the third presents the results.

  11. ACADEMIC MOTIVATION FOR BUSINESS INFORMATION SYSTEMS STUDENTS

    OpenAIRE

    Catalin Maican; Radu Lixandroiu

    2015-01-01

    Academic Motivation Scale (AMS) was applied to Business Information Systems students for finding out their reasons and motives for enrolling this academic field, for undergraduate and postgraduate academic cycles. The students were presented the AMS scale translated in Romanian, together with other questionnaires. The first part of the paper makes a short introduction to AMS, the second describes its objectives, while the third presents the results.

  12. 77 FR 28237 - Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status...

    Science.gov (United States)

    2012-05-14

    ... / Monday, May 14, 2012 / Rules and Regulations#0;#0; ] SMALL BUSINESS ADMINISTRATION 13 CFR Part 124 RIN 3245-AF53 Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status Determinations; Correction AGENCY: U.S. Small Business Administration. ACTION:...

  13. Business Plan: Paper Recycling Plant

    OpenAIRE

    Ali, Muhammad; Askari, Sana; Salman, Muhammad; Askari, Sheba

    2008-01-01

    This Business Plan was written for Business Plan competition organized by Ministry of Youth Affairs Government of Pakistan. It explains the paper recycling business, its pros and cons, cost of paper recycling, plant options and feasibility.

  14. A Goal-Based Approach for Learning in Business Processes

    Science.gov (United States)

    Soffer, Pnina; Ghattas, Johny; Peleg, Mor

    Organizations constantly strive to improve their business performance; hence they make business process redesign efforts. So far, redesign has mainly been a human task, which relies on human reasoning and creativity, although various analysis tools can support it by identifying improvement opportunities. This chapter proposes an automated approach for learning from accumulated experience and improving business processes over time. The approach ties together three aspects of business processes: goals, context, and actual paths. It proposes a learning cycle, including a learning phase, where the relevant context is identified and used for making improvements in the process model, and a runtime application phase, where the improved process model is applied at runtime and actual results are stored for the next learning cycle. According to our approach, a goal-oriented process model is essential for learning to improve process outcomes.

  15. Doing Business in Zanzibar 2010

    OpenAIRE

    World Bank; International Finance Corporation

    2010-01-01

    Doing Business in Zanzibar 2010 is a new subnational report of the Doing Business series on the sub-Saharan African region, following the subnational Doing Business reports on Nigeria and Kenya. It measures business regulations and their enforcement in the region of Zanzibar, represented by Zanzibar Town. Doing Business series currently covers 183 economies around the world. The paper includes the following headings: overview, starting a business, dealing with construction permits, employing ...

  16. Doing Business in Hargeisa 2012

    OpenAIRE

    World Bank; International Finance Corporation

    2012-01-01

    Doing Business in Hargeisa 2012 measures business regulations and their enforcement in Hargeisa, Somaliland. It is the first Doing Business city profile in Somaliland. Comparisons with other economies are based on Doing Business 2012, doing business in a more transparent world, the ninth in a series of annual reports published by the World Bank and International Finance Corporation. The indicators in Doing Business in Hargeisa 2012 are also comparable with 335 cities from 54 economies benchma...

  17. Contribution on family business definition

    OpenAIRE

    Vallone, C.

    2013-01-01

    Despite numerous researches and an ample literature, there is not a unanimously and approved family business definition which identify family businesses from nonfamily businesses. Which are the aspects to describe exactly a family business? Which are the aspects that help to recognise family business from nonfamily business? Answering to these questions means to circumscribe the field of investigation, and obtain a comparable sample for international researches; to individualize the presence ...

  18. Business protocol in integrated Europe

    OpenAIRE

    Pavelová, Nina

    2009-01-01

    The first chapter devotes to definitions of basic terms such as protocol or business protocol, to differences between protocol and etiquette, and between social etiquette and business etiquette. The second chapter focuses on the factors influencing the European business protocol. The third chapter is devoted to the etiquette of business protocol in the European countries. It touches the topics such as punctuality and planning of business appointment, greeting, business cards, dress and appear...

  19. A Study on Integrating Business Intelligence into E-Business

    Directory of Open Access Journals (Sweden)

    Sim Sheng Hooi

    2012-01-01

    Full Text Available With the high speed of development in the information technology area, many organizations use the Internet in their businesses instead of traditional "brick and mortar" physical stores. With the rapid spread of the Internet, people can access the web easily anywhere and anytime without barriers of time or space. However, a lot of data collected from global and local e-businesses is complex and unstructured and thus of limited use. Business intelligence tools could be used to extract accurate and useful information about future forecasts, business patterns, and business decision making. This paper provides a high level view of business intelligence and its benefits in e-business. Methods of adopting business intelligence are studied and examples of current market business intelligence tools are given in order to give a better idea of business intelligence usage in e-business.

  20. WOMEN IN FAMILY BUSINESS

    Directory of Open Access Journals (Sweden)

    Mr Anshu

    2012-04-01

    Full Text Available 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, ownership and transition issues and possible gender discrimination are examined. The findings support the paradigm of a different, more feminine style of management, while signs of discrimination are not clearly revealed. This paper is based on a research intended to provide acomparative analysis of the status of women entrepreneurs and men entrepreneurs in Family Business in India. It first draws demographic & psychographic profiles of women and men entrepreneurs in family business, identifies & addresses operational problems faced by women and men entrepreneurs in family business, draws theirinclination for future plans for growth and expansion and also for the furtherance of research on women entrepreneurs in India.

  1. BUSINESS SURVEYS-EVALUATION INSTRUMENT OF THE EUROPEAN ECONOMIC CLIMATE

    OpenAIRE

    SECAREANU CONSTANTIN

    2010-01-01

    Business surveys or conjuncture surveys are specific statiostical researches, but complementary to traditional, official statistics.While official statistics provide quantitive information regardin the level,structure and evolution of varied economic process and phenomena, business surveys offer quality information, essential to the short term evolutional analysis of economic indicators: the diagnosis of the current situation, the timely detection of inflexion points within the economic cycle...

  2. Business Metaphors in a Bilingual Business Lexicon*

    Directory of Open Access Journals (Sweden)

    Li Lan

    2011-10-01

    Full Text Available

    Abstract: General purpose dictionaries benefit users at large in many ways, but the definitions and examples might not satisfy the diverse needs of different professional users. This is especially true of metaphors. The article discusses the treatment of business metaphors in the PolyU Business Lexicon derived from the trilingual PolyU Business Corpus (PUBC. During the process the concordances are grouped by senses, and then separated according to their literal and metaphorical meanings, which in turn lead to the decisions of sense order, word meaning and translation equivalents. Since different cultures have different 'bags' of metaphors, and metaphorical meanings also vary in different registers, the focus is primarily on the differences between Chinese and English in terms of culture, psychology, language and how such differences can be translated and presented in a corpus-based business lexicon with a minimum loss of their original connotations. Cultural transformations, such as direct translation, image substitution, explanatory notes and abandonment of the figure of speech, are suggested to bridge interlanguage metaphorical gaps.

    Keywords: METAPHOR, DEFINITION, TRANSLATION, CULTURAL DIFFERENCE

    Opsomming: Sakemetafore in 'n tweetalige sakewoordeboek. Woordeboeke vir algemene doeleindes bevoordeel gewone gebruikers op baie maniere, maar die definisies en voorbeelde mag dalk nie die uiteenlopende behoeftes van verskillende professionele gebruikers bevredig nie. Dit is veral waar van metafore. Die artikel bespreek die behandeling van sakemetafore in die PolyU Business Lexicon gebaseer op die drietalige PolyU Business Corpus (PUBC. Gedurende die proses word die konkordansies deur betekenisse gegroepeer, en dan geskei volgens hul letterlike en metaforiese betekenisse, wat vervolgens lei tot die besluite oor betekenisorde, woordbetekenis, en vertaalsekwivalente. Aangesien verskillende kulture verskillende "sakke" metafore het, en

  3. Koszul cycles

    CERN Document Server

    Bruns, Winfreid; Römer, Tim

    2010-01-01

    We prove regularity bounds for Koszul cycles holding for every ideal of dimension at most 1 in a polynomial ring. We generalize the lower bound for the Green-Lazarsfeld index of Veronese rings we proved in arXiv:0902.2431 to the multihomogeneous setting.

  4. 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...

  5. Glacial cycles

    DEFF Research Database (Denmark)

    Kaufmann, R. K.; Juselius, Katarina

    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...

  6. Who Needs Business Experience?

    DEFF Research Database (Denmark)

    Walter, Achim; Ritter, Thomas; Coviello, Nicole;

    that prior business experience does not predict very early export (within three years). Our results offer fresh insight to the international business and international entrepreneurship literatures, and implications for policy development. In particular, international R&D collaborations at public research...... the founding teams’ pre-foundation R&D and customer collaborations to early exports. We also show that pre-foundation involvement in these various forms of collaboration, as well as a diverse stock of prior technical knowledge, can compensate for a lack of business experience in the team. The results also show...

  7. Sustaining a Business

    DEFF Research Database (Denmark)

    Marinova, Svetla Trifonova; Marinov, Marin Alexandrov

    2015-01-01

    system was under way. Dyadic and triadic relationships are investigated by applying sets of theoretical approaches to the creation of an East-West business relationship. They encompass the role of the country’s government, the management of the focal company and the foreign partner. Furthermore, the role......The chapter explores how internationalisation accounted for sustained business success during the turbulent time of radical economic, political and social transformation in Eastern Europe. The study adopts a longitudinal approach to exploring the evolution of internationalisation – from...... and the integration of the company into global business structures....

  8. Business model archetypes

    DEFF Research Database (Denmark)

    Taran, Yariv; Nielsen, Christian; Thomsen, Peter Poulsen;

    2014-01-01

    The Danish Banking sector faces increasing requirements regarding regulation and profitability, which especially threatens small- and medium sized banks. This study analyzes whether the successful business model of Handelsbanken (‘The Handelsbanken Way’) to banking in regard to the needed....... This study is structured according to the frameworks from Business Model implementations and from implied organizational structures. Using the notion of Osterwalder and Pigneur (2010), this study reveals only minor differences in the Business Models of Handelsbanken and DLB. Despite the supposedly obvious...

  9. Business Model Innovation Leadership

    DEFF Research Database (Denmark)

    Lindgren, Peter; Rasmussen, Ole Horn

    2012-01-01

    Leading business model (BM) strategizing through “the field of innovation” has not yet been covered in business model and innovation leadership literature. This is a bit peculiar considering that there has been an increased focus on BM innovation (BMI) by academics and industry since 2011......”. This emphasizes the importance of questioning. How is BM innovation leadership (BMIL) carried out in companies related to various BM(s) and BMI tasks and throughout their business model innovation process? And, how can innovation leadership be related to BMI? A framework model for BMIL based on case research...

  10. Business Models as Models

    OpenAIRE

    Baden-Fuller, C.; Morgan, M S

    2010-01-01

    Drawing on research undertaken in the history and philosophy of science, with particular reference to the extensive literature which discusses the use of models in biology and economics, we explore the question ‘Are Business Models useful?’ We point out that they act as various forms of model: to provide means to describe and classify businesses; to operate as sites for scientific investigation; and to act as recipes for creative managers. We argue that studying business models as models is r...

  11. Statistics for business

    CERN Document Server

    Waller, Derek L

    2008-01-01

    Statistical analysis is essential to business decision-making and management, but the underlying theory of data collection, organization and analysis is one of the most challenging topics for business students and practitioners. This user-friendly text and CD-ROM package will help you to develop strong skills in presenting and interpreting statistical information in a business or management environment. Based entirely on using Microsoft Excel rather than more complicated applications, it includes a clear guide to using Excel with the key functions employed in the book, a glossary of terms and

  12. Gitz Cycling - Lancering af et nyt brand

    OpenAIRE

    Priisholm Petersen, Andreas; Borch Jacobsen, Adam

    2014-01-01

    This project seeks to answer the struggles that an upcoming business can face, when approaching an existing market. This also includes the many aspects they might face when launching a new brand. This is done through a case study of the company Gitz Cycling. They have a new offer to the cycling market - an exclusive brand and design. Upon their entrance to the existing market, they have planned to market themselves through social media. Therefore this paper will also evolve around what proble...

  13. BUSINESS PROCESS REENGINEERING AS THE METHOD OF PROCESS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    O. Honcharova

    2013-09-01

    Full Text Available The article is devoted to the analysis of process management approach. The main understanding of process management approach has been researched in the article. The definition of process and process management has been given. Also the methods of business process improvement has been analyzed, among them are fast-analysis solution technology (FAST, benchmarking, reprojecting and reengineering. The main results of using business process improvement have been described in figures of reducing cycle time, costs and errors. Also the tasks of business process reengineering have been noticed. The main stages of business process reengineering have been noticed. The main efficiency results of business process reengineering and its success factors have been determined.

  14. From Business Corpus to Business Lexicon*

    OpenAIRE

    Li Lan; Grahame T. Bilbow

    2011-01-01

    Abstract: Language corpora are now indispensable to dictionary compilation. They help broaden the role of the dictionary from standardizing the vocabulary to recording a language. The trilingual corpus generated by the Hong Kong Polytechnic University gives a record of business languages used in Hong Kong. It differs from other corpora in that (1) it includes English, Chinese and Japanese; (2) it shows local characteristics; and (3) it focuses on a specific area (financial services, ...

  15. Business Models for Start up Business

    OpenAIRE

    Boban, Nitin

    2010-01-01

    Gamingdom is a new start up venture that provides online gaming service utilising the latest cloud computing technology. The high demand, popularity and exponential growth in the number of gaming enthusiasts and the market have brought about this innovative idea. This new venture aims to provide an easy method of gaming through the internet without heavy expenses on hardware and software and also minimising the existing high rate of piracy. A business model is an essential tool for buildin...

  16. Business Survival and Success of Young Small Business Owners

    NARCIS (Netherlands)

    C.M. van Praag

    2003-01-01

    Little empirical evidence provides insight in person-oriented drivers of business survival and success of small business owners. In this paper I perform a duration analysis of business survival amongst young white (selfemployed) small business owners in the U.S. Compulsory exits are distinguished fr

  17. Rethinking How Business Purpose Is Taught in Catholic Business Education

    Science.gov (United States)

    Johnson, Lyman; Naughton, Michael; Bojan, William

    2013-01-01

    Business education at a Catholic university should engage students and faculty across the university in critically examining the purpose of business in society. Following the best practices of leading business schools, the Catholic business curriculum has mostly focused on the shareholder and stakeholder approaches--with the shareholder approach…

  18. The Sine-Egyptian Joint Business Council Business Forum Held

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    @@ On December 25, Chairman Wan Jifei led the Chinese business delegation attending the Sino-Egyptian Joint Business Council Business Forum co-hosted by the CCPIT and the Sino-Egyptian Business Council in Cairo, Egypt. Chinese vice Premier Li Keqiang who was on a visit to Egypt attended the forum and addressed the opening ceremony.

  19. Creating a Business Case from a Business Model

    NARCIS (Netherlands)

    Meertens, Lucas Onno; Starreveld, Eelco; Iacob, Maria-Eugenia; Nieuwenhuis, Bart; Shishkov, Boris

    2014-01-01

    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 alter

  20. Model business letters, emails and other business documents

    CERN Document Server

    Taylor, Shirley

    2012-01-01

    For anyone who wants to communicate effectively in business, this is your complete reference guide for any form of written communication. Packed with over 500 sample documents, over 100 tips for better business writing and useful templates you can apply to your writing immediately, Model Business Letters will help you put the key rules of good business writing into action.