This book studies the sustainability and optimality of public debt under different scenarios: the closed economy, the small open economy, and a two-country setting. Sustainability refers to the existence and the stability of the long-run equilibrium. Optimality relates to the path of public debt that maximizes discounted utility. The analysis is conducted within the framework of the Solow model, the overlapping generations model and the infinite horizon model. The government can follow different strategies, it either fixes the deficit ratio or the tax rate. As a result, a fixed deficit ratio generally can be sustained. By contrast, a fixed tax rate generally cannot be sustained. Depending on the chosen fiscal strategy, there exists either an optimal deficit ratio or an optimal tax rate that maximizes the sum of consumption and government purchases per capita.

Sustainability and Optimality of Public Debt

Business & Money

Carlberg, Michael

Hansen, Arne

Economics

Physica

Economic theory and empirical research confirm that the rising international integration caused an increase in aggregate income at least for the industrialized countries, although trade liberalization is no Pareto improvement. In the empirical literature, there is a consensus that the international integration implies a destruction of low-skilled job vacancies and an increase in income, while the conclusions are mixed concerning the implication for the overall unemployment rate. This book seeks to find theoretical explanations to these empirical regularities. The book poses three questions: What are the implications of trade liberalization for the labor market in the presence of trade unions if we account for both firm and worker heterogeneity? What are the implications of a redistribution policy if the government chooses unemployment benefits to partially compensate the losers of trade liberalization?, and what is the optimal redistribution scheme for trade gains if the government explicitly takes into account the consequences for the income distribution? This book presents a rigorous theoretical analysis to answer the questions posed. Beside the well-known firm-selection effect on goods markets caused by trade liberalization, a selection process on the labor market -the worker-selection effect - is presented. The book also argues that if welfare is measured in the traditional manner, i.e. income per capita, compensating the loser of trade liberalization by paying unemployment benefits decreases welfare, but the intensity of the reduction differs with respect to the chosen funding of the unemployment benefits. Another significant contribution of this book is that if the objective function of the government, i.e. the modified welfare function, includes both aggregate income and income inequality, the redistribution of trade gains can lead to an increase in welfare.

International Trade and Unemployment: On the Redistribution of Trade Gains When Firms Matter (Contributions to Economics)

de Pinto, Marco

Pro-active Dynamic Vehicle Routing: Real-Time Control and Request-Forecasting Approaches to Improve Customer Service (Contributions to Management Science)

This book deals with transportation processes denoted as the Real-time Distribution of Perishable Goods (RDOPG). The book presents three contributions that are made to the field of transportation. First, a model considering the minimization of customer inconvenience is formulated. Second, a pro-active real-time control approach is proposed. Stochastic knowledge is generated from past request information by a new forecasting approach and is used in the pro-active approach to guide vehicles to request-likely areas before real requests arrive there. Various computational results are presented to show that in many cases the pro-active approach is able to achieve significantly improved results. Moreover, a measure for determining the structural quality of request data sets is also proposed. The third contribution of this book is a method that is presented for considering driver inconvenience aspects which arise from vehicle en-route diversion activities. Specifically, this method makes it possible to restrict the number of performed vehicle en-route diversion activities.

Ferrucci, Francesco

Management & Leadership

Design of Incentive Systems: Experimental Approach to Incentive and Sorting Effects (Contributions to Management Science)

Fehrenbacher, Dennis D.

Industries

Strategy Deployment in Business Units: Patterns of Operations Strategy Cascading Across Global Sites in a Manufacturing Firm (Contributions to Management Science)

This book reveals and presents the root-causes that lead to varying improvement performances across different locations of a global positioned manufacturing organization. Conducting a multiple case study analysis of manufacturing sites around the world, the author found that the quality of the strategy deployment process is vital, especially when it is clear to all affected employees―a situation we refer to as strategy cascading. But having a sound strategy cascading alone is not enough. The author worked out that a company, which achieves to align its sound strategy cascading with the company context and leadership style of its top-management team, is likely to realize more operations improvements than do companies that missed to do so.

Schlickel, Maik

Finance

<p>This book presents an in-depth perspective of knowledge as a fundamental process of any organization rather than just another resource to be managed. The author presents a process-oriented theory of creating and applying knowledge directed towards both&nbsp;researchers and practitioners. In this book the author develops normative knowledge management guidelines which draw from a unique view on knowledge, discussed in the field of philosophy since Plato but neglected by most knowledge&nbsp;management authors - by applying a philosophically grounded 'social epistemology' to organizations. The guidelines in this book call for an open and reflective space of knowledge creation, aligned with goals and structures of the organization. Numerous examples, field studies, and an application to the main case study on Seven-Eleven Japan complement both the descriptive view on knowledge as well as the normative guidelines presented in this book.&#8203;</p>

Organizational Epistemology: Understanding Knowledge in Organizations (Contributions to Management Science)

Seirafi, Kasra

The Impact of International Trade and FDI on Economic Growth and Technological Change (Contributions to Economics)

Economic globalisation and technological change are the two issues that concerned people in the past, concern them today and will concern them in the future - all over the world, poor or rich. Traditionally, questions about allocative effects are asked: What are the labour market implications? Who loses? Who wins? What is the net aggregate welfare effect after an adjustment period? However, two points are rarely taken into consideration: How do globalisation and technological change interact and what are the potential long-run implications for economic growth? This book addresses the interplay of these megatrends. It asks how economic globalisation may affect innovation and technology of individual firms and eventually the growth prospects of countries. Thereby it shows that protectionism not only harms static efficiency but might as well lead to dynamic losses. The book provides a systematic overview of the theoretical underpinnings of the openness-growth nexus and summarises the conceptual problems and important findings of the empirical analyses so far. The theoretical insights are supported by two empirical studies, the first dealing with the innovative behaviour and the “within-multinational” technology transfer of Spanish firms that were acquired by foreign companies and the second analysing productivity growth rate implications from exporting for German manufacturing firms.

Hofmann, Patricia

Science & Math

Monetary incentives, as a driving force for human behavior, are the main theme of this book. The primary goals underlying the application of monetary incentive systems in companies are motivating employees to strive for superior productivity in line with the interests of employers, and hiring adequately skilled employees. The first goal refers to incentive effects, the latter to sorting effects. This book introduces important theories and concepts concerning behavior under influence of monetary incentives; it reviews existing economic frameworks and identifies specific contingency variables. Based on an integrative framework of elements influencing incentive and sorting effects, a laboratory experiment is presented including detailed methodological discussion on experimentation and data analysis as well as an extensive presentation of findings and discussion of implications.

See the best price to sell, buy or rent books by the Physica publisher. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Physica

See the best price to sell, buy or rent books by the Physica publisher. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Sustainability and Optimality of Public Debt

International Trade and Unemployment: On the Redistribution of Trade Gains When Firms Matter (Contributions to Economics)

Pro-active Dynamic Vehicle Routing: Real-Time Control and Request-Forecasting Approaches to Improve Customer Service (Contributions to Management Science)

Design of Incentive Systems: Experimental Approach to Incentive and Sorting Effects (Contributions to Management Science)

Strategy Deployment in Business Units: Patterns of Operations Strategy Cascading Across Global Sites in a Manufacturing Firm (Contributions to Management Science)

Organizational Epistemology: Understanding Knowledge in Organizations (Contributions to Management Science)

The Impact of International Trade and FDI on Economic Growth and Technological Change (Contributions to Economics)

Strategy Deployment in Business Units: Patterns of Operations Strategy Cascading Across Global Sites in a Manufacturing Firm (Contributions to Management Science)

The Impact of International Trade and FDI on Economic Growth and Technological Change (Contributions to Economics)

Design of Incentive Systems: Experimental Approach to Incentive and Sorting Effects (Contributions to Management Science)