To see the other types of publications on this topic, follow the link: Business policy.
Dissertations / Theses on the topic 'Business policy'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 dissertations / theses for your research on the topic 'Business policy.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse dissertations / theses on a wide variety of disciplines and organise your bibliography correctly.
1
Linaa, Jesper Gregers. "Business cycles and monetary policy /." Copenhagen, 2005. http://www.gbv.de/dms/zbw/501512020.pdf.
Full text
2
Ong, Sze Hwei 1979. "Grid computing : business and policy implications." Thesis, Massachusetts Institute of Technology, 2003. http://hdl.handle.net/1721.1/30035.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division, Technology and Policy Program, 2003.Includes bibliographical references (leaves 84-86).
The Grid is a distributed computing infrastructure that facilitates the exchange of expertise and resources. It is somewhat analogous to the electric power grid in that it can potentially provide a universal source of IT resources that can have a huge impact on human capabilities and on the entire society. Currently the Grid is being deployed (in limited ways) in some research and academic institutions. As Grid computing technologies mature further, the commercial sector can also benefit. With Grid technologies enabling utility computing, enterprises will be able to access IT resources on-demand in a utility-like way. This thesis gives a brief introduction on Grids and looks back into the history of power grids for lessons learned. It suggests that the Grid and the power grid are both infrastructures and factors of reliability, standardization, universal access and affordability are necessary to ensure the success of any infrastructure. Once the Grid is successful, it can open up new opportunities in the field of utility computing and impact IT provision in the commercial sector. The new utility computing ecosystem would consist of five major players - the Grid resource supplier, the Grid infrastructure supplier, the utility service provider, the re-seller and the end user. Further industry analysis reveals that there are new roles for current players in the traditional IT provision industry and opportunities for new entrants in this new ecosystem. The thesis attempts to identify the characteristics of each of the five major players to help the IT industry better understand the requirements of these new roles. Current players in the IT provision industry would have to decide which of the above roles to play in this new utility computing ecosystem and to re-define their market strategies accordingly. New entrants to the field would likely be players in the telecommunication sector who want a share of this growing pie and whose existing relationship with bandwidth subscribers can be leveraged upon. This thesis concludes with recommendations on several policy issues: Grid standardization for inter-operability, decentralized Grid governance to encourage optimal resource sharing and mechanisms for transcending cultural/organizational barriers inhibiting the commercial adoption of Grid computing.
by Sze Hwei Ong.
S.M.
3
Ou, Shengliang. "Essays on macroeconomic policy and business cycles." Doctoral thesis, Universitat Pompeu Fabra, 2019. http://hdl.handle.net/10803/667206.
Full textAbstract:
This thesis consists of three chapters on macroeconomic policy and business cy-cles. In chapter 1, I estimate a time-varying structural VAR to study the effects of government spending shocks on a number of U.S. macroeconomic variables. In contrast to the predictions of the standard New Keynesian models, I find no significant changes in the size of the government spending multiplier when the federal funds rate hits the Zero Lower bound (ZLB). I propose a theoretical model where the central bank, through either conventional or unconventional policies, directly controls the market interest rate, and where the policy rule parameters are subject to regime switches to capture potential changes due to the ZLB con-straint. The model estimates suggest that the behavior of the market interest rate was not much affected by the ZLB constraint, and thus the government spending multiplier remained largely unaltered. In chapter 2, we provide an empirical esti-mate of the central bank’s targeting rule that reflects the relative weight a central bank attaches to the allocation of the output gap and inflation, and of the deep parameter that characterizes a central bank’s loss function, overcoming the simul-taneity problem. In chapter 3, we explore the welfare implications of a reduction in the price rigidity in a New Keynesian model featuring both price rigidity and dispersed information. We find the introduction of digital price tags that may fa-cilitate price adjustment may deteriorate the welfare. The dominant underlying mechanism is that a reduction in the price rigidity will amplify the welfare losses associated with the price dispersion within price resetting firms when agents have heterogeneous beliefs about the economy.Aquesta tesi consta de tres capítols sobre política macroeconòmica i cicles empresarials. Al capítol 1, estimo un VAR estructural que varia amb el temps per estudiar els efectes de les xocs de la despesa pública en diverses variables macroeconòmiques dels Estats Units. A diferència de les prediccions dels nous models keynesians estàndard, no trobo canvis significatius en la grandària del multiplicador de despesa pública quan la taxa de fons federals arriba al límit zero inferior (ZLB). Proposo un model teòric on el banc central, mitjanant polítiques convencionals o no convencionals, controli directament el tipus d’interès del mercat i on els paràmetres de la regla de política estan subjectes a canvis de règim per capturar possibles canvis a causa de la restricció ZLB. Les estimacions del model suggereixen que el comportament de la taxa d’interès del mercat no es va veure molt afectat per la restricció ZLB i, per tant, el multiplicador de la despesa pública va romandre en gran part inalterat. Al capítol 2, proporcionem una estimació empírica de la regla d’orientació del banc central que reflecteix el pes relatiu que un banc central concedeix a l’assignació de la bretxa de producció i la inflació, i del paràmetre profund que caracteritza la funció de pèrdua d’un banc central, superant la simultaneïtat problema. En el capítol 3, explorem les implicacions del benestar d’una reducció de la rigidesa dels preus en un nou model keynesià amb rigidesa en preus i informació dispersa. Trobem que la introducció d’etiquetes de preus digitals que puguin facilitar l’ajust de preus podrien deteriorar el benestar. El mecanisme subjacent dominant és que una reducció de la rigidesa dels preus amplificarà les pèrdues de benestar associades a la dispersió de preus en les empreses de restabliment de preus quan els agents tenen creences heterogènies sobre l’economia.
4
Shamsaei, Azalia. "Indicator-based Policy Compliance of Business Processes." Thèse, Université d'Ottawa / University of Ottawa, 2012. http://hdl.handle.net/10393/23476.
Full textAbstract:
Background: Business process compliance management has recently attracted a lot of attention in both business and academia as it enables organizations to not only control and monitor their business processes from a legal point of view but also to avoid financial penalties and undesirable consequences to their reputation.
Objective: This thesis aims to provide a framework that would enable organizations to:
1- Discover business processes that violate regulations, laws and policies;
2- Discover the importance level of business processes based on the organization’s goals;
3- Determine the impact of compliance-related process modifications on business goals, including conflicting goals between stakeholders, and on policies; and
4- Enable organizations to measure the level of business process compliance for one or multiple policies.
Methodology: A systematic literature review in the area of goal-oriented business process compliance management and measurement has been conducted, which showed that balancing legal compliance obligations with business objectives remains a difficult challenge. A new Indicator-based Policy Compliance Framework (IPCF), which combines policy and rule models together with models capturing business goals (with their relative importance to the organization) and business processes, has been proposed. This framework builds on the User Requirements Notation (URN), which is the first international standard to combine goal modeling with scenario modeling. The intents and objectives of policies have been modeled, as well as the goals and business processes of organizations, and indicators are used to measure the compliance level of policies. This enables the detection of non-compliant business processes and the evaluation of the impact of compliance-related process modifications on business goals. Human resource policies and business processes are used as an example to illustrate the method. Aerodrome security regulations and business processes are then used to validate the method in a real-life environment. Comparisons to related work, evaluation against different sets of criteria, and tool support complement the framework validation.
Results: The Indicator-based Policy Compliance Framework enables organizations to discover business processes that violate policies as well as other types of rules, regulations, and laws. Guidelines for modeling legal text with URN’s Goal-oriented Requirement Language (GRL) are proposed. Furthermore, IPCF helps determine the impact of compliance-related process modifications on business goals, including conflicting goals between stakeholders, and on policies. In addition, as policies sometimes apply differently to different types of organizations, a new profile for GRL, with suitable stereotypes, well-formedness constraints, and a modified analysis algorithm defined for GRL model families is used to evaluate the satisfaction level of individual goal models that are members of a larger family model. Finally, the proposed IPCF enables organizations to measure the level of business process compliance for one or multiple policies, and such measures can be visualized directly in URN models but also through interactive Business Intelligence portals, for a wider diffusion.
5
Zhao, Chang S. M. Massachusetts Institute of Technology. "Sustainable business strategies with policy-driven economies." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/117444.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2018.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 49-50).
Since 2010, China has put forward ample efforts to liberalize its currency and financial systems to transition into an economy with sustainable growth. However, the severe capital flight in these past two years prompted the government to place capital control regulations on both retail (individual) and institutional investors engaged in cross-border investments. These regulations include temporary halts of various programs such as the Qualified Domestic Institutional Investor Scheme and the Qualified Domestic Limited Partner initially devised to facilitate a smooth capital flow in the Shanghai Free Trade Zone, while promoting new initiatives such as the Stock Connect and One Belt One Road. The action of the government has since stabilized a continuously devaluated Renminbi and increased the alarmingly low level of foreign reserve. On the negative note, however, the regulations also dramatically suppressed the volume of cross-border transactions and subsequently caused changes in Chinese investors' profile, partnership structure and preference for overseas markets. The fast change of the investment dynamics prompts questions including if there is still strong demand for foreign assets by Asian investors, what are the channels to continue to engage with China-based investors and their capital, how to build a sustainable business strategy with a policy-driven economy, and what the potential future risks would be. To answer these questions, it is important to distinguish between channels that are temporally closed but in the long term will continue to play a significant role in liberalizing the Renminbi and channels that are still viable even under the capital control regulations. Hong Kong plays a strategic role in this discussion. This thesis is based on rigorous research combined with an in-depth analysis of the strategies of local market players who have established business relationships with Chinese investors and formed insights into future developments based on the current investment dynamics. The thesis attempts to provide an idea of the gradually changing landscape of global investments and propose more sustainable business strategies with investors domiciled in policy-driven economies such as China's.
by Chang Zhao.
S.M. in Real Estate Development
6
Rubio, Margarita. "Housing markets, business cycles and monetary policy." Thesis, Boston College, 2008. http://hdl.handle.net/2345/354.
Full textAbstract:
Thesis advisor: Fabio GhironiThesis advisor: Matteo Iacoviello
This dissertation studies the implications of housing market heterogeneity for the trans- mission of shocks, welfare and the conduct of monetary policy. In the first chapter I focus on mortgage contract heterogeneity (fixed vs. variable-rate mortgages). I develop and solve a New Keynesian dynamic stochastic general equilibrium model that features a housing market and a group of constrained individuals who need housing collateral to obtain loans. A given proportion of constrained households borrows at a variable rate, while the rest borrows at a fixed rate. The model predicts that in an economy with mostly variable-rate mortgages, an exogenous interest rate shock has larger effects on borrowers than in a fixed-rate economy. For plausible parametrizations, aggregate differences are muted by wealth effects on labor supply and by the presence of savers. More persistent shocks cause larger aggregate differences. From a normative perspective I find that, in the presence of collateral constraints, the optimal Taylor rule is less aggressive against inflation than in the standard sticky-price model. Furthermore, for given monetary policy, a high proportion of fixed-rate mortgages is welfare enhancing. Then, I develop a two-country version of the model to study the implications of housing market heterogeneity for a monetary union as well as costs and benefits of being in a monetary union when there are asymmetric shocks. Results show that consumption reacts more strongly to common shocks in countries with high loan-to-value ratios (LTVs), a high proportion of borrowers or variable-rate mortgages. I also find that country-specific housing price shocks increase consumption not only in the country where the shock takes place. Welfare analysis shows that housing-market homogeneization is not beneficial per se, only when it is towards low LTVs or predominantly fixed-rate mortgages. As for costs and benefits of monetary unions, when there is a technology shock in one of the countries and they are symmetric, the monetary union regime is welfare worsening. However, results are dependent on whether or not countries are symmetric and on the source of the asymmetry
Thesis (PhD) — Boston College, 2008
Submitted to: Boston College. Graduate School of Arts and Sciences
Discipline: Economics
7
Han, Jing. "Essays on Business Cycles and Monetary Policy." The Ohio State University, 2009. http://rave.ohiolink.edu/etdc/view?acc_num=osu1243891082.
Full text
8
Pinchetti, Marco Luca. "Essays on Business Cycles and Monetary Policy." Doctoral thesis, Universite Libre de Bruxelles, 2020. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/314638.
Full textAbstract:
This thesis explores some different dimensions of business cycle analysis and monetary policy,in closed and open economies. In the first chapter, I develop a model to analyze the roleof research and development in the US business cycle, and its ability to produce macroeconomicfluctuations by generating expectations of future productivity gains. In the secondchapter, I empirically investigate how changes in central bank transparency affects financialmarkets response to central bank announcements in the United Kingdom. Finally, in thethird chapter, I analyze some heterogeneities in the international spillovers of central bankannouncements, focusing on the behavior of exchange rates and international capital flows.The first chapter studies the role of R&D-based innovation within the US business cycle. Thechapter builds on the idea that temporary business cycle frequency contractions can result inprolonged medium-run slowdowns, if an economy’s technological growth is generated by asector of profit-maximizing innovators. In order to analyse the business cycle spillovers oninnovation activity, this chapter analyzes the contribution of R&D-based innovation to USbusiness cycle dynamics combining techniques from the empirical and theoretical literature.First, using a Bayesian VAR identified with a Cholesky recursive formulation, the papershows that innovation shocks are generally inflationary and generate rises in hours worked.Second, the paper introduces a medium-scale New-Keynesian model of creative destructionthat can rationalize these facts. In the model, a sector of profit-maximizing innovators investsin R&D and endogenously generates productivity gains, ultimately determining theeconomy’s growth rate. The estimated responses to innovation shocks are characterized bypowerful wealth effects that offset the contractionary spillovers on the labour market conventionally associated with productivity increases. The estimation results suggest that thebulk of the productivity slowdown is due to a decrease in the innovation’s ability to generateproductivity gains. These findings support the view of the productivity slowdown as astand-alone phenomenon in the US business cycle as opposed to a byproduct of the GreatRecession.In the second chapter (jointly written with Andrzej Szczepaniak), we investigate the impactof monetary policy transparency measures on the relevance of the information effect channelof central bank communication. Our paper focuses on the switch in the Bank of England’scommunication strategy, occurred in August 2015, from a multi-day to a single-day releaseschedule. Before August 2015, the minutes of the monetary policy committee and the inflationreport (i.e. the Bank’s analysis of the economic outlook), were published only someweeks after the monetary policy decision. By contrast, after August 2015, the Bank of Englandstarted releasing all accompanying documents alongside the policy rate announcement,in the attempt to increase the transparency of its policy-making process.To this purpose, we construct a market surprise series for each one of the three communicationdocuments of the Bank of England (the monetary policy decision, the minutes of themonetary policy committee, and the economic outlook report) in order to evaluate the effectof central bank communication on agents’ expectations. The chapter builds on the idea thatmarket responses to central bank releases can be due either to unexpected deviations from thecentral bank’s policy rule (the policy component of the surprise), or to the revision of agents’expectations about future inflation (the informational component of the surprise). These twocomponents can be identified based on the associated reaction of equity prices. In the chapter,the policy component of the policy announcement is identified as an unexpected increasein the policy rate which results in a decline in equity prices, and the informational componentas an unexpected increase in the policy rate which results in a rise in equity prices, inaccordance with the methodology introduced by Jarocinski and Karadi (2020). We provideevidence that the informational component is a key driver of the financial market response tocentral bank communication. Before August 2015, according to our results, the informationeffect accounted for approximately two thirds of the interest rate surprise, the inflation expectations,and the equity price variation on the release days. However, we find that the switchfrom a multi-day release schedule to a single-day communication strategy markedly reducedthe importance of information effects. Our findings suggest that the degree of transparencyof a central bank’s policies significantly affects the quantitative relevance of the informationeffect and the associated asset price response.The third chapter (jointly written with Andrzej Szczepaniak), analyzes some of the internationalspillovers of central bank communication. The chapter highlights that the policy andthe informational component of central bank announcements entail different open economyspillovers. Namely, when unexpected increases in the US policy rate are associated withincreases in equity prices, the US dollar depreciates. We argue that this phenomenon occursbecause central bank information shocks affect investors’ risk perception. In response tofavorable central bank information shocks, we observe downward revisions of the level offinancial risk perceived by investors, which lead capital to flow towards emerging marketsand riskier asset classes. Conversely, in response to adverse central bank information shocks,we observe upward revisions of the level of financial risk perceived by investors, which leadcapital to flow towards the US and safer asset classes, causing an appreciation of the US dollar.In support to this hypothesis, we provide evidence of large spillover effects onto globalsafe-haven currencies, risk premia, cross-border credit, risky assets, and ultimately, on globaleconomic activity.Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished
9
Johansson, Monica. "Organizing policy : a policy analysis starting from SMEs in Tuscany and the county of Jönköping /." Jönköping : Jönköping International Business School, Jönköping University, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-6870.
Full text
10
Koundinya, Sridarshan U. "Electricity pricing policy :|ba neo-institutional, developmental and cross-national policy design map /." The Ohio State University, 1999. http://rave.ohiolink.edu/etdc/view?acc_num=osu1487951595503826.
Full text
11
Lambert, Priscilla Ann. "Japanese family policy in the 1990s : business consent in the policy-making process /." Diss., Connect to a 24 p. preview or request complete full text in PDF format. Access restricted to UC IP addresses, 2004. http://wwwlib.umi.com/cr/ucsd/fullcit?p3130209.
Full text
12
Hauser, Daniela Stefanie. "Essays on macroeconomic policy over the business cycle." Doctoral thesis, Universitat Autònoma de Barcelona, 2013. http://hdl.handle.net/10803/401287.
Full textAbstract:
Esta tesis consta de tres capítulos vagamente conectados, cada uno de ellos analizando una cuestión de particular interés para los legisladores de políticas macroeconómicas relacionadas con las fluctuaciones del ciclo económico.
El primer capítulo generaliza el modelo estándar nuevo Keynesiano de una pequeña economía abierta para permitir la dolarización endógena, es decir, el uso de una moneda extranjera estable como sustituto de algunos de los servicios monetarios de la moneda oficial. Una definición de dolarización endógena da lugar a un compromiso adicional entre la estabilización y el control del grado de dolarización, donde este ultimo de-pende de las variables controladas por la autoridad monetaria. Por lo tanto, la política monetaria tiene un impacto en el grado de dolarización, que a su vez afecta los com-promisos que enfrenta la política monetaria. Nuestro modelo sugiere que un grado de dolarización positivo no sólo condiciona la asignación del estado estacionario de la economía, sino que también afecta a las dinámicas de la economía después de diferentes choques económicos pertinentes. Por ejemplo, choques de política monetaria temporales afectan a la relación coste-beneficio de las dos monedas en circulación y por lo tanto tienen efectos reales permanentes. Si el choque induce un aumento o un descenso en el uso de la moneda extranjera depende del grado inicial de dolarización en la economía. Al considerar choques tecnológicos positivos, la magnitud y la persistencia de las respuestas dinámicas de la pequeña economía abierta dependen del grado de dolarización. Por ón de dos regımenes de política monetaria
ultimo, la comparación diferentes, con el objetivo de estabilizar o la inflación doméstica o bien la inflación del índice de precios al consumo (IPC), lleva a la conclusión de que la estabilización de la inflación doméstica generalmente induce mayor volatilidad en todas las variables macroeconómicas, menos la producción doméstica. Pero con un mayor grado de dolarización las diferencias en el ajuste dinámico de la economía pequeña y abierta a través de los dos regímenes de política monetaria bajo consideración se hacen más pequeños.
En el segundo capítulo se estudia el papel de la movilidad de los trabajadores como mecanismo de ajuste alternativo a los choques asimétricos. En particular, aporta pruebas sobre el comportamiento dinámico de los flujos de trabajadores netos en todos los estados de EE.UU. en respuesta a un choque tecnológico positivo. Los choques tecnológicos son identificados como una perturbación que incrementa la productividad relativa de un dado estado en el largo plazo para 226 pares estatales que abarcan el 80 por ciento de los flujos de trabajadores a través de los estados de EE.UU., en el período 1976-2008. Los datos sugieren respuestas heterogéneas a un choque tecnológico positivo tanto en el empleo y en los flujos netos de trabajadores a través de los estados. Construimos un modelo dinámico estocástico de equilibrio general (DSGE) de dos regiones con movilidad laboral endógeno y choques regionales para explicar esta evidencia. Calibramos el modelo económico consistente con las diferencias observadas en el grado de rigidez nominal a través de los estados, y demostramos que replica los diferentes patrones de las respuestas dinámicas de empleo y de los flujos de trabajadores netos después de un choque tecnológico.
En el tercer capítulo se sostiene que modelar explícitamente un sector de producción en el hogar como una opción alternativa al mercado de trabajo es fundamental para la comprensión de la propagación de los cambios exógenos en el gasto público a las variables macroeconómicas. De hecho, la posibilidad de sustitución entre el mercado y los bienes producidos en casa es un motor importante de la respuesta de la oferta de trabajo a los choques de gasto público y, en consecuencia, es clave para explicar la magnitud de los multiplicadores fiscales, así como el comportamiento del consumo privado de mercado después de una expansión fiscal. Construimos un modelo nuevo Keynesiano estándar que abarca un sector de producción en el hogar y utilizamos evidencia micro-y macroeconómica para validar nuestras predicciones. Si la elasticidad de sustitución entre bienes producidos en el hogar y bienes comprados en el mercado se elige de acuerdo con la evidencia microeconomíca nuestro modelo produce respuestas dinámicas a los choques de gasto público que coinciden con la evidencia VAR.This thesis consists of three loosely connected chapters, each of them analyzing a particular question of interest to macroeconomic policymakers concerned with business cycle uctuations. The first Chapter generalizes the baseline small open economy New-Keynesian model to allow for endogenous dollarization, i.e. the use of a stable foreign currency as a substitute for some of the monetary services of the oficial, domestic currency. Defining dollarization endogenously gives rise to an additional policy trade-off between stabilization and the control of the degree of dollarization, with the latter depending on variables controlled by the monetary authority. Monetary policy therefore has an impact on the degree of dollarization, which in turn affects monetary policy trade- offs. Our model suggests that a positive degree of dollarization not only feeds back on the economy's steady state allocation but also affects the economy's dynamics after different economically relevant shocks. Temporary monetary policy shocks, for exam- ple, affect the cost-benefit relation of the two currencies in circulation and thus have permanent real effects. Whether the shock induces an increase or a fall in the use of the foreign currency depends on the economy's initial degree of dollarization. When considering positive technology shocks, the magnitude and persistence of the small open economy's responses depend on the degree of dollarization. Finally, comparing two different monetary policy regimes, aiming at stabilizing either domestic- or CPI- in ation, leads to the conclusion that stabilizing domestic in ation generally induces more volatility in all macroeconomic variables but output. But the differences in the dynamic adjustment of the small open economy across the two monetary policy regimes under consideration become smaller with higher degrees of dollarization. In the second Chapter we study the role of labor mobility an adjustment mechanism to asymmetric shocks. In particular, we provide evidence on the dynamic behavior of net labor ows across US states in response to a positive technology shock. Technol- ogy shocks are identified as disturbances that increase relative state productivity in the long run for 226 state pairs encompassing 80 percent of labor ows across US states in the period 1976 - 2008. The data suggest heterogeneous responses of both employment and net labor ows across states conditional on a positive technology shock. We build a two region dynamic stochastic general equilibrium (DSGE) model with endogenous labor mobility and region-specific shocks accounting for this evidence. We calibrate the model economy consistently with the observed differences in the degree of nominal rigidities across states, and show that we replicate the different patterns of the re- sponses in employment and net labor ows across states following a technology shock. In the third Chapter we argue that explicitly modelling a home production sector as an alternative option to market work is crucial for understanding the propagation of exogenous changes in public spending to macroeconomic variables. In fact, the sub- stitutability between market and home produced goods is an important driver of the labor supply response to government expenditure shocks and, as a consequence, is key to explain the magnitude of fiscal multipliers, as well as the behavior of private market consumption after a fiscal expansion. We build an otherwise standard New-Keynesian model that encompasses a home production sector and we use both micro- and macroe- conomic evidence to validate our predictions. If the elasticity of substitution between home and market goods is chosen in line with the microeconomic estimates our model delivers impulse response functions to government expenditure shocks that match the VAR evidence.
13
Ghilardi, Matteo F. "Financial frictions, fiscal policy and business cycle dynamics." Thesis, University of Surrey, 2013. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.608350.
Full textAbstract:
This thesis examines the role of financial frictictions, capital regulation and fiscal policy in business cycle dynamics. It consists of three self-contained chapters. In the first chapter I develop a model with financial n:ictions on the supply and demand side of credit. I introduce a financial accelerator mechanism on the demand side of credit that can be implemented without the costly state verification approach. Moreover) using Bayesian methods I compare three models: a plain vanilla new Keynesian model, a model with banking frictions, and a model with banking and entrepreneurial frictions. I find that (i) there are substantial differences between the model with no financial frictions and the model with the banking sector in explaining non financial data, (ii) the model with the banking and entrepreneurial sector frictions outperforms the model with the banking sector friction in explaining financial data and (iii) the capital quality shock is a key driver of business cycle fluctuations, The second chapter develops an open-economy DSGE model with an optimizing banking sector to assess the role of capital flows, macro-financial linkages, and macroprudential policies in the Philippines. The key H:~sult is that macroprudential measures can usefully complement monetary policy. Countercyclical macroprudential polices can help reduce macroeconomic volatility and enhance welfare. The results also demonstrate the importance of capital flows and financial stability business cycle fluctuations as well as for supply side financial accelerator effects in the amplification and propagation of shocks. The last chapter introduces in an otherwise standard real business cycle model a more general and data coherent class of production functions, namely a constant elasticity of substitution production function. I show that the degree of substitutability between production factors is a key ingredient to understand the (de)stabilising properties of a balanced-budget rule. Then I calibrate the model consistently with the empirical evidence, i.e. we set the elasticity of substitution between labour and capital below unity. I show that compared to the Cobb-Douglas case, the likelihood of indeterminacy under a balanced-budget rule is greatly reduced.
14
Gorton, Stephen Mark. "Policy-driven reconfiguration of service-targeted business processes." Thesis, University of Leicester, 2011. http://hdl.handle.net/2381/9890.
Full textAbstract:
Workflows are a key part of Business Process Management, o ering the potential to automate a number of business activities. Workflows are though constrained to their design, i.e. workflow functionality does not extend outside its own specification. A relatively small number of solutions to this inflexibility have been proposed. However, all approaches so far are either at the orchestration level or are tightly-coupled with the workflow, whereas we consider that the problem is at the business level and needs to be loosely coupled from the workflow. Significant value can be gained from separating core functionality in a workflow from variability to that core process. Both can be defined separately and yet still corporately execute to provide a variety of execution states that match the given context. Functionality of the workflow can be supplied by Service Oriented Architecture. Thus we define StPowla as a combination of workflows, policies and Service Oriented Architecture. Workflows define the core business process, policies define the possible variability of the processes and Service Oriented Architecture provides the underlying functionality. We specifically present a set of reconfiguration functions that can be called by policies on workflows and define each of these as graph transformation rules. We provide an encoding from StPowla processes to SRML models, including core workflow descriptions and variability, in order to make precise the relationship between the constituent parts of StPowla. We apply the StPowla approach to an industrial case study, provided by an industrial partner.
15
Wiggins, Anne. "Worlds apart : SMEs, e-business and policy initiatives." Thesis, London School of Economics and Political Science (University of London), 2007. http://etheses.lse.ac.uk/2044/.
Full textAbstract:
This thesis draws together and reconciles three seemingly dichotomous "worlds"; small-and medium-sized enterprises (SMEs), e-business and government policy making. A significant number of EU and UK government projects and policy initiatives have been introduced in recent years to motivate e-business adoption and implementation by SMEs, yet the relatively low take-up rate strongly indicates that these policies and initiatives are failing. Designed as a preliminary study, this research ascertains the practical impact of such policy initiatives on SMEs, based on the experiences of seven UK case studies, with a view to instruct constructive and feasible changes in policy making. The implication is that future policy initiatives may become more appropriate, coherent and accessible to SMEs, resulting in greater opportunities for them, a greater level of innovation adoption by them, and an economy that is - as a direct result - more dynamic. In this "problem situation," both the SMEs and the policy makers who aim to serve them are joint owners of the problem situation. There is a very real need to think about ways to bring these "actors" in disparate "worlds" together into a more collaborative arrangement, and to consider how government policies that are currently failing SMEs might have more relevance - it would seem that most SMEs are unaware of many of the services and initiatives provided by their government. Ascertaining what SMEs want and need, designing policies and services in light of this, and finding better ways of letting them know these services are available, would seem to be the key. Through a narrative research approach informed by Action Case Research (ACR) and Dialogical Action Research (Dialogical AR), in combination with Soft Systems Methodology (SSM) conceptual modelling, this doctoral research develops our understanding of SME policy initiatives in the UK and the EU. The thesis addresses the absence of well-structured multiple case study designs in the literature, and tests existing knowledge about SMEs and policy generation in an original way. The development of appropriate and complementary (ACR and Dialogical AR) analysis tools constitutes a methodological extension of the SSM conceptual modelling process for ISD, which focuses on social, political and cultural factors and the social construction of problems and solutions. The thesis is an exploration of complex and ill-structured problem situations with multiple owners that can be viewed from a variety of stances - this has rarely been featured in the literature. This research is also an extension of SSM theory development, in that SSM has not been widely used in the SME environment, and there are very few examples of iteration having taken place in the literature. The research is an interpretive approach to the study of a domain about which we know very little. As such, it provides a contribution to literature, theory and practice. A (1981) study by Galliers et al. is drawn upon. Although that study was originally applied in a very different context, it nonetheless parallels this doctoral research, in that both examine a complex and difficult real world system with a utilitarian approach, and in that both are soft systems studies that draw together anachronous worlds and suggest a way of pursuing a dialogue that is meaningful to all involved parties. The research concludes with a proposal to incentivise SME owner/managers to attend workshop(s), in order that an in-depth and meaningful dialogue between policy makers and SMEs can develop, and in order to draw out attitudes and issues previously unexpressed. Policy makers would thus be able to build on the findings in order to generate and advertise more appurtenant policies for SMEs, thereby bringing these "worlds" together.
16
Halland, Håvard. "Fiscal policy, business cycles and natural resource dependence." Thesis, University of Cambridge, 2012. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.609980.
Full text
17
Henriques, Pedro Castro. "Liquidity, business cycles and monetary policy: a simulation." Master's thesis, NSBE - UNL, 2010. http://hdl.handle.net/10362/11846.
Full textAbstract:
A Masters Thesis, presented as part of the requirements for the award of a Research Masters Degree in Economics from NOVA – School of Business and EconomicsIn Kiyotaki and Moore (2008) the authors develop a model in which di¤erences in the liquidity of distinct assets create a link between asset prices and macroeconomic aggregates. Their goal is to build a work- horse model that incorporates liquidity as the cause for the circulation of money, in a dynamic stochastic general equilibrium (DSGE) environment, close enough to the real business cycle (RBC) framework, and thus, suitable for studying monetary policy. In this article, I am interested in studying how this framework can be used to understand the e¤ects of liquidity and technology shocks in the U.S. economy. I calibrate their model and study the impact of adding up liquidity constraints on its RBC performance. I .nd that liquidity constraints have a remarkable impact on the volatility of investment and consumption. Moreover, I conclude that, in this context, asset prices. volatility is explained as a natural feature of a monetary economy when hit by liquidity shocks.
18
Huxtable, Louisa Anne. "Input by business into business-environment policy formulation in Wales : a case study." Thesis, Swansea University, 2009. https://cronfa.swan.ac.uk/Record/cronfa43040.
Full textAbstract:
This thesis investigates the case of the Expert Panel on Resources Management for Wales (EPRM). The research problem addressed is whether the EPRM process was a novel, repeatable and effective method for business to inform public policy, specifically in the area of business-environment policy making. The aim of the research was to create a case study that included: observations of the EPRM process and its wider context; a comparison of the process with that used traditionally; and an assessment of the effectiveness of the process and its outcomes. A review of the literature suggests that the incidences of research and political theory being proactively and practically applied to policy making by those who are political or social science practitioners are few. Much of the research in this field occurs independent of policy operation, and is often observational and critical in its nature, creating an opportunity for novel study and practical input to the policy making process. Using participant observation, documentary evidence, survey methods and interviews, the case study presented here provides an insight into the workings of the EPRM in the context of business-environment policy making in post-devolution Wales. It shows that in practice the Panel's work was novel and, although suffering from some limitations, it could be suitable for use in other policy areas and by other non-autonomous devolved governments. The thesis concludes that the EPRM process resulted in viable, sensible public policy recommendations that were the product of a valid evidence base and credible public participation, and that it was a fit for purpose, effective and innovative method for developing policy ideas.
19
Trzeciakiewicz, Dawid. "Three essays in fiscal policy." Thesis, University of Hull, 2014. http://hydra.hull.ac.uk/resources/hull:10502.
Full textAbstract:
This thesis presents three papers on fiscal policy. The first paper "Macroeconomic impacts of fiscal policy shocks in UK; a DSGE analysis" (joint with Keshab Bhattarai) uses an estimated new-Keynesian dynamic stochastic general equilibrium (DSGE) model to analyse the effects of fiscal policy in the UK. We show that positive shocks in government consumption and investment result in the highest stimulus in the short term, whereas the capital tax cut and the positive public investment shock in the longer horizon. On the government’s expenditure side public investment remains the most stimulating instrument even if we allow for a constant elasticity of substitution index of private and public consumption in utility. We also find that, the nominal and real frictions present in the model tend to influence stronger the level of labour and capital tax multipliers and less public expenditure multipliers. The second paper "Credit constraints, the housing market, and fiscal policy" investigates the effects of fiscal policy in an estimated new-Keynesian open-economy DSGE model with a housing market and indebted households. We show that house prices drop following a negative shock to government transfers, and a positive shock to public spending, public investment and taxes. The results reveal that the financial deregulation increases the sensitivity of fundamentals to fiscal policy. In particular, in the case of a stimulus, the financial deregulation contributes to a weakening of multipliers in the case of government consumption and investment and tends to improve multipliers for public transfers and tax cuts. The third paper "Who is afraid of austerity? The redistributive impact of fiscal policy in a DSGE framework" (joint with Richard McManus and Gulcin Ozkan) explores the distributional consequences of fiscal austerity using a medium scale new-Keynesian DSGE model with a richly specified fiscal sector. We show that agents who are credit constrained are most exposed to austerity in contrast to agents with full access to financial markets. This is particularly true in the case of rises in taxes on labour income and cuts in transfers. In general, tax based consolidations exhibit more conflict than spending based ones. Our results also reveal that the distributive impacts of fiscal consolidations are amplified the longer the austerity persists; the slower the policy reversal and when monetary policy reaches its zero lower bound.
20
Wong, Cham-Li. "Government-business relations in Hong Kong, 1945-1993 /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B17312012.
Full text
21
Or, Tin-lun. "Review of the deregulating telecommunications business and the regulatory environment in telecommunications business /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19872586.
Full text
22
Zimmerman, Joseph S. "Business wargaming applications for Marine Corps Manpower policy decisions /." Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2000. http://handle.dtic.mil/100.2/ADA378665.
Full textAbstract:
Thesis (M.S. in Management) Naval Postgraduate School, March 2000.Thesis advisor(s): Dolk,Daniel R. ; Filizetti, Julie. "March 2000." Includes bibliographical references (p. 83-86). Also available in print.
23
Cheung, Wing-chung. "An analysis of ICAC's liasion policy business ethics campaign /." Click to view the E-thesis via HKUTO, 1995. http://sunzi.lib.hku.hk/hkuto/record/B31964710.
Full text
24
Badua, Reginald, and Shalanda Warr. "Canes implementation: analysis of budgetary, business, and policy challenges." Thesis, Monterey, California: Naval Postgraduate School, 2014. http://hdl.handle.net/10945/44517.
Full textAbstract:
Approved for public release; distribution is unlimitedTo reduce cost and effectively manage afloat networks, the Navy is adopting current industry best practices, including the use of a common computing environment and open architecture. The Consolidated Afloat Network Enterprise System (CANES) was designed to employ these frameworks. CANES will combine five existing shipboard networks by utilizing commercial-off-the-shelf hardware and SOFtware. The use of CANES is expected to reduce overall cost by eliminating redundant information technology infrastructure and migrating to service-oriented architecture. This report focuses on acquisition strategy and policy, technological influences, and economic factors that could affect the ongoing implementation process of the CANES program. These factors directly impact the decisions being made in fielding the application of CANES. An analysis of these approaches in the context of these factors shows a negative effect of deficit-driven budgeting on schedule and performance.
25
Cheung, Wing-chung, and 張永松. "An analysis of ICAC's liasion policy: business ethics campaign." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1995. http://hub.hku.hk/bib/B31964710.
Full text
26
Fairbrass, Jenny May. "Business interests : strategic engagement with the EU policy process." Thesis, University of Essex, 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.391388.
Full text
27
Mrad, Houda. "Business cycle fluctuations and monetary policy in emerging economies." Thesis, Aix-Marseille, 2018. http://www.theses.fr/2018AIXM0187.
Full textAbstract:
Dans cette thèse nous examinons différents aspects des fluctuations dans les économies émergentes. Premièrement, afin d’établir les régularités empiriques de ces pays nous examinons le contexte économique des pays du Moyen Orient et d’Afrique du Nord. Ensuite, nous estimons un modèle des cycles réels pour essayer de reproduire les faits stylisés de ces pays, mais aussi pour évaluer la performance de ces modèles néoclassiques augmentés de deux types de chocs de productivité transitoire et permanent. Ceci fait l’objet du chapitre 2 dont le résultat est en faveur de l'hypothèse "Le cycle c'est la tendance" . Le deuxième aspect porte sur l’importance des frictions financières, il est traité dans le troisième chapitre qui introduit des chocs financiers au modèle de croissance stochastique. Nous identifions le rôle des frictions financières dans l’économie tunisienne comme étant un amplificateur de l’effet des chocs de productivité. Le quatrième chapitre porte sur l'analyse de la politique monétaire. Premièrement, nous examinons le régime de ciblage d’inflation où nos résultats empiriques supportent une implémentation de la stricte version du ciblage d’inflation avec une fonction de réaction basée sur des prévisions de l'inflation. Deuxièmement, nous exploitant les règles monétaires optimales en présence de la rigidité d l'information dans le cadre d’un modèle stochastique d’équilibre général (DSGE). Nos résultats, révèlent que les chocs du taux de marge de la force de travail jouent un rôle important dans les fluctuations de l’économie tunisienne, la règle de Taylor produit un taux satisfaisant de bien être, alors que les règles qui ciblent le niveau de prix ne sont pas efficacesThis thesis investigates different aspects of the fluctuations in emerging economies. First, it examines the MENA countries’ context to establish the empirical regularities. Then, to replicate the MENA countries’ business cycle patterns observed in the annual data, we estimate a standard real business cycle (RBC) model to assess the performance of the neoclassical model with transitory and permanent shocks. This is the purpose of chapter 2 which results support the assumption "The cycle is the trend". The second aspect refers to the importance of financial frictions and is addressed in the third chapter which adds new financial shocks to the stochastic growth model. We determine the role of financial frictions in the Tunisian economy not as the source of business cycle fluctuations but as an amplifier of the effects of total factor of productivity shocks.The fourth chapter analyzes monetary policy in emerging economies. Firstly, we examine the inflation targeting regime under the lens of a New Keynesian forward-looking model. We also, estimate a Taylor rule and some other alternatives in order to determine which rule to adopt within this framework. Empirical results support the implementation of a strict inflation targeting regime, with an inflation forecast based rule as a reaction function. Secondly, we explore the optimal monetary policy rules using a New Keynesian DSGE model. In particular we assume that information stickiness as the only type of rigidity in the model. We find that Whereas, Taylor rule in its original version provides substantial welfare gains, price-level targeting regime was suboptimal
28
Zhu, Hongwei. "A technology and policy analysis for global E-business." Thesis, Massachusetts Institute of Technology, 2002. http://hdl.handle.net/1721.1/61128.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division, Technology and Policy Program, 2002.Includes bibliographical references (p. 49-51).
We introduce an e-business analytical framework that focuses on transaction flows, including information, physical goods, and services. Within this framework, global e-business involves transaction flows that cross both organizational and national boundaries. Many challenging technology and policy issues arise from this trans-boundary characteristic of global e-business. These issues are analyzed using web aggregation as an example global e-business application. We start the analysis by introducing web aggregation services and their enabling technologies. Our survey of current status of web aggregation indicates that most services are still operated regionally despite their global presence. Although benefits of web aggregation have been realized in regions with extensive use of information aggregation, little is done at the global level. Our case study on worldwide price distribution of a nearly homogeneous consumer electronics product indicates great potential for global aggregation to bring information and efficiency to the global market. In addition to lack of global integration, we identified other deficiencies of web aggregation. Technological challenges and possible solutions to overcoming these deficiencies are discussed. However, having technological capability for trans-boundary information flow does not solve all problems in global aggregation. National policies often prohibit such flow into nations that have different policies, especially in database and privacy protection areas. We analyze these policy issues and propose future research on international policy harmonization.
by Hongwei Zhu.
S.M.
29
Cheung, Wing-chung. "An analysis of ICAC's liaision policy : business ethics campaign /." Hong Kong : University of Hong Kong, 1995. http://sunzi.lib.hku.hk/hkuto/record.jsp?B1402388X.
Full text
30
Antonevich, Konstantin. "Fiscal Policy in Sweden : Analyzing the Effectiveness of Fiscal policy During the Recent Business Cycle." Thesis, Jönköping University, JIBS, Economics, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-12716.
Full textAbstract:
The economic downturn of 2008-2010 has encouraged many economists andpoliticians to reconsider the role of fiscal policy. Whereas there is a broadly acceptedmodel which describes the influence of monetary policy on the economy, there is noconsensus concerning the fiscal policy.This paper aims to study the effectiveness of fiscal policy actions in Sweden over thepast 15 years, starting from the end of the banking crisis of 1992-93 to date. It has aspecific focus on the measures which were introduced in 2007-2010 and employs bothqualitative and quantitative analyses.The qualitative analysis investigates different expansionary fiscal measures, inter alia,the earned income tax credit, the new legislation for crisis management of banks, theguarantee program and the establishment of stability fund.The quantitative analysis is based on a 4-variable Vector Autoregression model whichhelps to identify the influence of general government expenditure, revenue and centralgovernment debt on GDP fluctuations over the past 15 years. The results demonstrate apositive response of GDP to an increase in government expenditure, with the maximumvalue of response achieved after 8 quarters. GDP also grows in response to a positiveshock in the central government debt, which is in line with the macroeconomic theory ofexpansionary fiscal policy. The positive response to an increase of revenue is somewhatcontradictory, and can become a topic for a further in-depth research.The economic downturn of 2008-2010 has encouraged many economists andpoliticians to reconsider the role of fiscal policy. Whereas there is a broadly acceptedmodel which describes the influence of monetary policy on the economy, there is noconsensus concerning the fiscal policy.This paper aims to study the effectiveness of fiscal policy actions in Sweden over thepast 15 years, starting from the end of the banking crisis of 1992-93 to date. It has aspecific focus on the measures which were introduced in 2007-2010 and employs bothqualitative and quantitative analyses.The qualitative analysis investigates different expansionary fiscal measures, inter alia,the earned income tax credit, the new legislation for crisis management of banks, theguarantee program and the establishment of stability fund.The quantitative analysis is based on a 4-variable Vector Autoregression model whichhelps to identify the influence of general government expenditure, revenue and centralgovernment debt on GDP fluctuations over the past 15 years. The results demonstrate apositive response of GDP to an increase in government expenditure, with the maximumvalue of response achieved after 8 quarters. GDP also grows in response to a positiveshock in the central government debt, which is in line with the macroeconomic theory ofexpansionary fiscal policy. The positive response to an increase of revenue is somewhatcontradictory, and can become a topic for a further in-depth research.
31
Hui, Chun-fai. "Source of industrial competence : the government-business relationships in Japan, South Korea, and Taiwan /." Hong Kong : University of Hong Kong, 1987. http://sunzi.lib.hku.hk/hkuto/record.jsp?B12335290.
Full text
32
Schofield, Jill. "Policy into practice : a study of public policy implementation and the role of learning." Thesis, Aston University, 1998. http://publications.aston.ac.uk/10718/.
Full textAbstract:
Public policy becomes managerial practice through a process of implementation. There is an established literature within Implementation Studies which explains the variables and some of the processes involved in implementation, but less attention has been focused upon how public service managers convert new policy initiatives into practice. The research proposes that managers and their organisations have to go through a process of learning in order to achieve the implementation of public policy. Data was collected over a five year period from four case studies of capital investment appraisal in the British National Health Service. Further data was collected from taped interviews by key actors within the case studies. The findings suggest that managers do learn to implement policy and four factors are important in this learning process. These are; (i) the nature of bureaucratic responsibility; (ii) the motivation of actors towards learning; (iii) the passage of time which allows for the development of competence and (iv) the use of project team structures. The research has demonstrated that the conversion of policy into practice occurs through the operationalisation of solutions to policy problems via job tasks. As such it suggests that in understanding how policy is implemented, technical learning is more important than cultural learning, in this context. In conclusion, a "Model of Learned Implementation" is presented, together with a discussion of some of the implications of the research. These are the possible use of more pilot projects for new policy initiatives and the more systematic diffusion of knowledge about implementation solutions.
33
Matheson, Fiona Combe. "Museum policy and marketing strategies." Thesis, Northumbria University, 1992. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.333143.
Full text
34
Patterson, Joanna. "Cyber-Security Policy Decisions in Small Businesses." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4551.
Full textAbstract:
Cyber-attacks against small businesses are on the rise yet small business owners often lack effective strategies to avoid these attacks. The purpose of this qualitative multiple case study was to explore the strategies small business owners use to make cyber-security decisions. Bertalanffy's general systems theory provided the conceptual framework for this study. A purposive sample of 10 small business owners participated in the interview process and shared their decision-making methodologies and influencers. The small business owners were vetted to ensure their strategies were effective through a series of qualification questions. The intent of the research question and corresponding interview questions was to identify strategies that successful small business owners use to make cyber-security decisions. Data analysis consisted of coding keywords, phrases, and sentences from semi structured interviews as well as document analysis. The following themes emerged: government requirements, peer influence, budgetary constraints, commercial standards, and lack of employee involvement. According to the participants, budgetary constraints and peer influence were the most influential factors when making decisions regarding cyber-security strategies. Through exposing small business owners to proven strategies, the implications for social change include a reduction of their small business operating costs and assistance with compliance activities.
35
Mariotti, Ilaria. "Firm relocation and regional policy : a focus on Italy, the Netherlands and the United Kingdom /." Utrecht [u.a.] : Royal Dutch Geographical Society [u.a.], 2005. http://www.loc.gov/catdir/toc/fy0707/2007385398.html.
Full text
36
Conti, Antoniomaria. "Essays on Monetary Policy, Low Inflation and the Business Cycle." Doctoral thesis, Universite Libre de Bruxelles, 2017. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/260933.
Full textAbstract:
The last ten years have been extremely challenging for both researchers in monetary economics and policymakers.The Global Financial Crisis of 2007-2009, in spite of its size and severity, was initially widely perceived in the Euro Area (EA) as an imported and transitory crisis: it was frequently predicted that the EA economy would recover once the US and the World Economy rebounded. Instead, after a brief period of recovery, the Euro Area was hit by the Sovereign Debt Crisis of 2011-12, a domestic crisis which widened the divide already existing between core and peripheral countries up to the point of threatening a break-up of the euro. Thanks to the bold monetary policy response of the ECB this fear gradually vanished, but the sudden fall in oil price and the uncertain economic outlook led to the low inflation period, particularly severe in the EA, in which inflation, both in terms of headline and core measures, is well below the ECB target of 2%. This prompted the ECB to launch its Quantitative Easing program, at the beginning of 2015, much later than what the FED implemented to offset the impact of the 2007-09 crisis.This dissertation consists of two different but interlinked parts, which contribute to the empirical literature on monetary policy, low inflation and the business cycle. The first part is composed by Chapters I and II, and it is devoted to analyse the EA economy, both before the Global Financial Crisis and during the most recent low inflation period. The second one, composed by Chapters III and IV, focuses on the US economy to evaluate the possible negative consequences of the extraordinary monetary stimulus undertaken by the FED. In particular, we study the risks for both price and financial stability of the effects of the so called lift-off, i.e. the gradual normalization of monetary stance. In the first Chapter, we provide novel evidence on the different effects of the ECB common monetary policy on euro-area core and peripheral countries even before the eruption of the crisis.We estimate a structural dynamic factor model on a large panel of Euro Area quarterly variables to take into account both the comovement and the heterogeneity in the EA business cycle, and we then simulate the model to investigate the possible existence of asymmetric effects of ECB monetary policy on member states' economies. Data stop before the eruption of the Global Financial Crisis in order to only assess conventional monetary shocks, which are identified by means of sign restrictions. Although the introduction of the euro has changed the monetary transmission mechanism in the individual countries towards a more homogeneous response, we find that differences still remain between North and South Europe in terms of prices and unemployment. These results are the consequence of country-specific structures, rather than of European Central Bank policies.In the second Chapter we use a Bayesian VAR model to analyse the transmission of global and domestic shocks in the euro area, with a particular focus on the drivers of inflation, especiallyin the recent period labeled as low inflation. We identify several shocks by means of sign restrictions, and we account for the role of ECB unconventional monetary policies by using a shadow interest rate. We document that the recent low inflation phase was not entirely attributable to falling oil prices, but also to slack in economic activity and to insufficiently expansionary monetary policy, because of the Zero Lower Bound of interest rates. Interestingly, we show that the launch of the ECB Quantitative Easing turned the monetary stance into more accommodative, preventing deflationary outcomes. In the third Chapter we provide an empirical evaluation of the existence of a "dark side" of monetary policy, i.e. the possibility that credit spreads abruptly rise following a monetary tightening, after being compressed by an extraordinary period of monetary easing. This would create a problematic trade--off for the central bank, as temporary monetary expansions might at once stimulate the economy and sow the seeds of abrupt and costly financial market corrections in the future in terms of risks for financial stability (Stein, 2014).We investigate this possibility using data for the US by exploiting non-linear methods to examine the propagation of monetary shocks through US corporate bond markets. Across different methodologies, we find that the transmission of monetary shocks is mostly symmetric. What is asymmetric is instead the impact of macroeconomic data releases: spreads respond more to bad news. Crucially, these responses anticipate economic slowdowns rather than causing them directly.However, empirical evidence points to the possibility of larger effects of expansionary monetary shocks depending on (i) the type of non-linear estimation technique (ii) the identification of the shock and (iii) the inclusion of unconventional measures in the analysis. Finally, in the fourth Chapter, we ask whether the FED has riskily delayed the exit from its large monetary easing, increasing the probability of a future inflationary burst. We do so by means of medium and larger scale Bayesian VAR, which we use for both structural analysis, i.e. the evaluation of monetary policy shocks, and forecasting, i.e. the running of counterfactuals and scenario analysis.We show that expansionary monetary policy did not trigger a large deviation of inflation from its steady state. Furthermore, the FED monetary stance is totally in line with the concurrent macroeconomic dynamics. Last, our model predicts that US core inflation will lie well below its 2% target in 2017, a finding only recently acknowledged by the FOMC projections.Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished
37
Kozovska, Kornelia <1981>. "Business Clusters in Eastern Europe: Policy Analysis and Cluster Performance." Doctoral thesis, Alma Mater Studiorum - Università di Bologna, 2009. http://amsdottorato.unibo.it/1611/.
Full textAbstract:
Clusters have increasingly become an essential part of policy discourses at all levels, EU, national, regional, dealing with regional development, competitiveness, innovation, entrepreneurship, SMEs. These impressive efforts in promoting the concept of clusters on the policy-making arena have been accompanied by much less academic and scientific research work investigating the actual economic performance of firms in clusters, the design and execution of cluster policies and going beyond singular case studies to a more methodologically integrated and comparative approach to the study of clusters and their real-world impact. The theoretical background is far from being consolidated and there is a variety of methodologies and approaches for studying and interpreting this phenomenon while at the same time little comparability among studies on actual cluster performances. The conceptual framework of clustering suggests that they affect performance but theory makes little prediction as to the ultimate distribution of the value being created by clusters. This thesis takes the case of Eastern European countries for two reasons. One is that clusters, as coopetitive environments, are a new phenomenon as the previous centrally-based system did not allow for such types of firm organizations. The other is that, as new EU member states, they have been subject to the increased popularization of the cluster policy approach by the European Commission, especially in the framework of the National Reform Programmes related to the Lisbon objectives. The originality of the work lays in the fact that starting from an overview of theoretical contributions on clustering, it offers a comparative empirical study of clusters in transition countries. There have been very few examples in the literature that attempt to examine cluster performance in a comparative cross-country perspective. It adds to this an analysis of cluster policies and their implementation or lack of such as a way to analyse the way the cluster concept has been introduced to transition economies.
Our findings show that the implementation of cluster policies does vary across countries with some countries which have embraced it more than others. The specific modes of implementation, however, are very similar, based mostly on soft measures such as funding for cluster initiatives, usually directed towards the creation of cluster management structures or cluster facilitators. They are essentially founded on a common assumption that the added values of clusters is in the creation of linkages among firms, human capital, skills and knowledge at the local level, most often perceived as the regional level. Often times geographical proximity is not a necessary element in the application process and cluster application are very similar to network membership. Cluster mapping is rarely a factor in the selection of cluster initiatives for funding and the relative question about critical mass and expected outcomes is not considered. In fact, monitoring and evaluation are not elements of the cluster policy cycle which have received a lot of attention. Bulgaria and the Czech Republic are the countries which have implemented cluster policies most decisively, Hungary and Poland have made significant efforts, while Slovakia and Romania have only sporadically and not systematically used cluster initiatives.
When examining whether, in fact, firms located within regional clusters perform better and are more efficient than similar firms outside clusters, we do find positive results across countries and across sectors. The only country with negative impact from being located in a cluster is the Czech Republic.
38
Beaver, Graham. "Management, strategy and policy in the UK small business sector." Thesis, Nottingham Trent University, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.273775.
Full text
39
CAVALCANTI, MARCO ANTONIO FREITAS DE HOLLANDA. "ESSAYS ON MONETARY POLICY AND BUSINESS CYCLES UNDER MARKET IMPERFECTIONS." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2007. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=10109@1.
Full textAbstract:
INSTITUTO DE PESQUISA ECONÔMICA APLICADAOs ensaios que compõem a presente tese investigam, no contexto de modelos monetários de equilíbrio geral nos moldes novo- keynesianos, algumas questões de interesse relativas condução da política monetária e às características das flutuações macroeconômicas. O primeiro ensaio analisa as propriedades das políticas ótimas de desinflação, buscando determinar as condições sob as quais: (i) a trajetória ótima de desinflação envolve perdas substanciais de produto; (ii) uma estratégia de desinflação rápida é preferível a uma desinflação gradual. De acordo com os resultados obtidos, a existência de diferentes graus de fricções monetárias e de inércia no produto e na inflação permite justificar diferentes trajetórias ótimas de desinflação, algumas envolvendo queda rápida e indolor da inflação, outras associadas a lenta redução das taxas inflacionárias acompanhada de forte recessão. No segundo ensaio, investiga-se a relação entre as imperfeições no mercado de crédito e o grau de amplificação de choques na economia associado ao chamado acelerador financeiro. A partir de simulações de um modelo teórico que incorpora dois tipos de fricções no mercado de crédito, conclui-se que a potência do acelerador financeiro na amplificação de choques monetários pode aumentar ou diminuir com as fricções do mercado de crédito, dependendo do nível inicial e do tipo de imperfeição considerada. O último ensaio investiga empiricamente a relação entre imperfeições no mercado de crédito, amplificação de choques e volatilidade macroeconômica a partir de um painel de dados sócio-econômicos para 62 países. De acordo com os resultados obtidos, que são consistentes com o modelo desenvolvido no segundo ensaio, a volatilidade macroeconômica varia de forma não- monotonica com o viés anticredor do sistema jírídico- legal, mas parece aumentar com os custos de cumprimento de contratos
This thesis consists of three essays on economic fluctuations and monetary policy issues, which are investigated within New- Keynesian monetary general equilibrium models. The first essay analyzes the properties of optimal disinflation policies, seeking to identify conditions under which: (i) the optimal disinflationary path involves significant output losses; (ii) a rapid disinflation is preferable to a gradual one. According to our results, different degrees of monetary frictions and inertia in output or inflation may lead to different optimal disinflationary policies - some of which will be quick and painless, while others will proceed slowly and generate deep recessions. The second essay investigates the relationship between credit market imperfections and the degree of shock amplification arising from the so-called financial accelerator, by simulating a macroeconomic model with two types of financial frictions. According to our results, the power of the financial accelerator may either increase or decrease with financial frictions, depending on the source and initial level of such frictions. The third essay provides an empirical investigation of the relationship between credit market imperfections, shock amplification and macroeconomic volatility, based on socioeconomic data from a panel of 62 countries. According to our results, which are consistent with the theoretical model developed in the second essay, macroeconomic volatility seems to increase with contract enforcement costs, but varies non-monotonically with the degree of anti-creditor bias in the judicial and legal system
40
Belo, Daniel Filipe Tiago. "Tax policy stance over the business cycle: evidence from Europe." Master's thesis, NSBE-UNL, 2014. http://hdl.handle.net/10362/11524.
Full textAbstract:
A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and EconomicsWe contribute to the literature addressing the cyclical behavior of tax policy. Most recent studies have relied on tax revenues and adjusted measures of tax collections to analyze this issue. We argue that such methodology is insufficient to characterize tax policy cyclicality, as tax revenues move endogenously with the business cycle. Consequently, this topic is revisited by making use of the policy instrument, tax rate, as opposed to the policy outcome, tax revenues. Using data for 13 European countries, we find that tax policy has mostly been a-cyclical over the last 30 years.
41
Turton, Richard. "Vocational education, training policy and business strategy, England and France." Thesis, University of Bristol, 2005. http://hdl.handle.net/1983/0107666e-c87a-4030-befe-406d54773068.
Full text
42
Пересадько, Галина Олександрівна, Галина Александровна Пересадько, Galyna Olexandrivna Peresadko, and Çetin Bektaş. "Tax policy instruments in the system of regulation of business." Thesis, Ukrainian Academy of Banking of the National Bank of Ukraine, 2012. http://essuir.sumdu.edu.ua/handle/123456789/63039.
Full textAbstract:
The development of tax policy has always been treated to the most
important categories in the economic life of our country. This is the stay of our
economy in recovery mode after the global financial crisis, when it is necessary
to correct an economic and management processes of financial capacity, based
on taxes. Today in Ukraine there are a number of misunderstandings between the
state and individuals and entities on the new rules of taxation. Because the data
generated by misunderstanding each other rallies of entrepreneurs who they want
to defend their position. Therefore, we can literally talk about the relevance of the
topic for Ukraine. The study of this paper supports the analysis of tax policy,
determines its weaknesses and finding ways to improve.
43
Farnsworth, Kevin. "Capital and welfare : business influence on social policy, 1979-1996." Thesis, University of Bath, 1999. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.311455.
Full text
44
Carper, Katherine. "TheMigration Business, 1824-1876:." Thesis, Boston College, 2020. http://hdl.handle.net/2345/bc-ir:109020.
Full textAbstract:
Thesis advisor: Heather RichardsonThesis advisor: Kevin Kenny
Between 1824 and 1876, almost ten million immigrants came to the United States. The onset of mass immigration posed a logistical problem: how to process, aid, and regulate a large influx of newcomers. State and federal governments, caught up in conflicts over state sovereignty and slavery, proved ill-equipped to manage the influx of migrants. The states enacted their own individual policies to control mobility, but there was no national immigration policy before the Civil War. Where state and federal governments failed to come up with a comprehensive solution, an ad hoc group of shipping merchants, passenger agents, aid organizations, runners and swindlers responded to the onset of mass migration by turning migration into a commercial enterprise. Taken together, these various actors, which I term the “migration business,” formulated an institutional response to the problem of mass immigration in the US. The passenger trade was a side business for many merchants in 1824, when the Supreme Court ruled that Congress had power over interstate commerce. But by 1876, the migration business had become a vast commercial enterprise, according to the Supreme Court, that was so important to the national interest as to require federal regulation. This dissertation explains how the migration business became a commercial enterprise worthy of federal regulation and how it influenced immigration policy on the local, state, and federal level. Through its control of transportation costs, charitable aid, and state and federal immigrant organizations, the migration business held regulatory power over immigrants, as well. By regulating immigration, the migration business formed its own kind of immigration policy—one that was led by merchants and entrepreneurs, and one that exploited foreign-born people in the US
Thesis (PhD) — Boston College, 2020
Submitted to: Boston College. Graduate School of Arts and Sciences
Discipline: History
45
King, David John. "Parking policy and- problems in business areas with reference to the central business district of Paarl." Thesis, Stellenbosch : Stellenbosch University, 2001. http://hdl.handle.net/10019.1/52394.
Full textAbstract:
Thesis (MS en S)--Stellenbosch University, 2001.ENGLISH ABSTRACT: The problem of parking has been with mankind almost from the day that the first carriage was invented. Everyone that owns a motor car knows competing for a parking space in a town centre can be frustrating. This study sets out to explain the phenomenon of parking and attempts to discover how the demand and supply of parking interacts with one another. Parking demand and supply needs to be balanced by policy makers in local governments. Local govemments are in a unique position in laying down guidelines for the provision of parking. These guidelines can influence and direct the way in which parking is supplied in the central business district. A better understanding of parking demand was attained through examining parking behaviour in the central business district of Paarl. The demand for parking was measured and conclusions drawn regarding on-street and off-street parking provision. In-lieu parking fees were found to be a viable alternative to providing parking in the central business district. The minimum parking standards for Paarl were examined and the conclusion arrived at showed that the standards need to be revised. The standards seem to be too high if compared to the current supply of parking in the central business area. The main recommendations made in this study are that further parking survey studies . need to be conducted to forecast the demand for parking in the central business area over the short- to medium term. The Municipality of Paarl should adopt a comprehensive parking policy that guides and manages the provision of parking in the central business district. This policy should be continually adapted and updated to keep track with the changing nature of transport modes and behaviour.
AFRIKAANSE OPSOMMING: Parkering as 'n probleem is saam met die mensdom al vandat die eerste trekkar ontwikkel is. Elke motoreienaar weet dat dit baie frustrerend kan wees om parkeerplek in die dorpskern te soek. Die studie ondersoek die fenomeen van parkering en poog om te ondek hoe die vraag en aanbod van parkering by mekaar inskakel. Dit is die taak van beleidsmakers in plaaslike owerhede om parkeervraag en -aanbod te balanseer. Plaaslike owerhede is in 'n unieke posisie as dit kom by die ontwerp en implementering van regulasies oor parkeervoorsiening. Hierdie regulasies beïnvloed en lei die manier waaarop parkering in die sentrale sakekern voorsien word. 'n Beter begrip van parkeervraag is verkry deur parkeergedrag in die sentrale sakekern van die Paarl te ondersoek. Die vraag na parkering is gemeet oor 'n sekere tydperk en gevolgtrekkings oor op-straatse en af-straatse parkeervoorsiening is gemaak. Parkeervoorsieningsfooie in plaas van parkeerplekvoorsiening word gesien as 'n goeie alternatief om te sorg dat genoegsame parkeerplekke beskikbaar is in die sentrale kern. Die minimum parkeerstandaarde vir Paarl is ook ondersoek en die gevolgtrekking is gemaak dat hierdie standaarde hersien moet word. Die standaarde kom voor as te hoog as dit vergelyk word met die huidige vraag na parkering in die sentrale sakekern. Die hoof aanbevelings wat in hierdie studie gemaak is sluit in dat verdere parkeerstudies gedoen moet word om die vraag na parkering te kan vooruitskat. Die vooruitskattings moet oor die kort- tot mediumtermyn geskied om te voorkom dat die data relevansie verloor. Paarl Munisipaliteit moet ook 'n omvattende parkeerbeleid wat die voorsiening en beheer van parkering defineer en lei daarstel. Die beleid moet gereeld verander en aangepas word om tred te hou met veranderings in vervoermodusse en parkeergedrag.
46
Manning, Elizabeth Sophie Mary. "Local content and related trade policy: Australian applications /." Title page, abstract and table of contents only, 2004. http://web4.library.adelaide.edu.au/theses/09PH/09phm2832.pdf.
Full text
47
Moos, Menisha. "Evaluating the South African small business policy to determine the need for and nature of an entrepreneurship policy." Thesis, University of Pretoria, 2014. http://hdl.handle.net/2263/46221.
Full textAbstract:
Even the best developed policies can and do fail, without attaining their desired
outcomes. Many countries have developed small business policies directed at
supporting and creating a favourable environment for cultivating small business
and entrepreneurship. Policies specifically aimed at entrepreneurship are less
prominent but also growing (Lundström & Stevenson, 2005:53; United Nations
Conference on Trade and Development (UNCTAD), 2012:1). The existence of
entrepreneurship policies in developing nations continues to be rare, despite the
belief that entrepreneurship can spur economic growth and employment.
The literature review introduced various important elements within the field of
small business and entrepreneurship and, specifically, in the policy domain. The
context of policy monitoring and evaluation was also addressed. Furthermore, the
literature revealed clear differences between small business and entrepreneurial
ventures which were not genuinely considered when small business support was
initiated in South Africa with the introduction of the National Small Business Act
(No. 102 of 1996) as amended. Only a small business was defined by the
Department of Trade and Industry (dti) and not an entrepreneurial venture (dti,
2003:8). At present, both start-up and established businesses are operating in South Africa with the possibility of either growing into a small business or
entrepreneurial venture.
The main purpose of this study is to evaluate the national small business policy of
South Africa and to determine its shortcomings. An entrepreneurship policy was
identified as a possible alternative to address the gaps left by the small business
policy. A content analysis of entrepreneurship and small business policies
highlighted that the main differences between these two policies are the focus on
individuals versus business ventures; pre-start-up versus post-start-up support;
and a broad versus narrow definition of which institutional structures constitute the
support environment.
In this research, constructs drawn from the literature study were used to formulate
the conceptual framework, research questions and hypotheses. Quantifiable data
were obtained from three groups of respondents – namely, start-up business
owners, established business owners and government officials involved in small
business development and entrepreneurship. The sample consisted of
23 government officials and 340 start-up and established business owners from
five metropolitan municipalities in the Gauteng, KwaZulu-Natal and Western Cape
provinces of South Africa. The empirical research was undertaken between
01 November 2011 and 30 April 2012. The One-Way ANOVA Test, Kruskal-Wallis
One-Way ANOVA Test, Friedman Two-Way ANOVA Test, Mann-Whitney U Test
and Chi-square Test were executed to present the statistical significant differences
between the three groups of respondents. The statistical tests were also executed
to illustrate the statistical significant differences within the different groups as well
as within different metropolitan municipalities in selected provinces. Pearson’s
correlation coefficient was conducted to determine whether there was a significant
relationship between the different small business policy evaluation factors and the
needs factors of business owners. The findings of this empirical study prove that
the small business policy does not address the needs of both start-up and
established business owners which may support their development into small
business and entrepreneurial ventures. Even though there is a mismatch between
the supply and demand of support services, this study did not find evidence to
support the need for an entrepreneurship policy in South Africa to supplement the existing small business policy. Businesses will continue to operate irrespective of
an additional policy. The results of the study can be utilised by government to
formulate and design adequate policies that focus on the specific needs of start-up
and established business owners.
The contribution of this study to the body of knowledge, and the possible
limitations of the study, are discussed. Areas of future research are outlined and
various recommendations are made to guide current and prospective small
business and entrepreneurship policy makers regarding the choice of policy
instruments, monitoring and evaluation. In conclusion, this study demonstrates the
importance and value of policies to business owners and entrepreneurs that can
effectively assist business venture survival, growth and success.Thesis (DCom)--University of Pretoria, 2014.
tm2015
Business Management
DCom
Unrestricted
48
許震輝 and Chun-fai Hui. "Source of industrial competence: the government-business relationships in Japan, South Korea, and Taiwan." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1987. http://hub.hku.hk/bib/B3126377X.
Full text
49
Jun, Sangjoon. "The effects of government policy on business cycles and productivity growth." Connect to resource, 1994. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1265724476.
Full text
50
Wong, Cham-Li, and 黃湛利. "Government-business relations in Hong Kong, 1945-1993." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31235396.
Full text