Social and Behavioral Sciences Commons^™

Soft Power: The Means To Success In World Politics (Book Review), Donna A. Cristo

WCBT Faculty Publications

Book review by Donna A. Christo.

Nye, Joseph S. Soft Power: The Means to Success in World Politics. New York: Public Affairs, 2004. ISBN 9781586482251; 9781586483067 (pbk.)

Bond Yield Compression In The Countries Converging To The Euro, Lucjan T. Orlowski, Kirsten Lommatzsch

WCBT Faculty Publications

We demonstrate that bond yield compression is under way in the countries converging to the euro and that German yields are significant drivers of local currency yields. Based on the evidence from Poland, Hungary and the Czech Republic, we conclude that these new ...Member States of the European Union are ready to adopt the euro without risking a disruptive shock to their financial stability. This message transpires from investigating the daily volatility dynamics of local bond yields as a function of German yields, conditional on changes in local term spreads, exchange rates and adjustments to central bank reference rates. Similar …

Export-Led Growth In Bangladesh: A Time Series Analysis, Hiranya K. Nath, Khawaja Mamun

WCBT Faculty Publications

This article examines time series evidence to investigate the link between exports and economic growth in Bangladesh. Using quarterly data for a period from 1976 to 2003 the article finds that industrial production and exports are cointegrated. The results of an error correction model (ECM) suggest that there is a long-run unidirectional causality from exports to growth in Bangladesh.

Service Learning And Faculty Involvement, Peter A. Maresco

WCBT Faculty Publications

This paper begins with an overview of service learning programs at colleges of business and specifically details faculty/student involvement in the service learning process at Sacred Heart University, Fairfield, CT. and its positioning with regard to other similar programs. The paper also highlights three specific areas of program differentiation; its Problem Based Service Learning program, a Community Based Service Learning program nationally recognized by Campus Compact, and a globally focused service learning program established between its students in the College of Business and students in an elementary school in Nepal.

Targeting Relative Inflation Forecast As Monetary Policy Framework For Adopting The Euro, Lucjan T. Orlowski

WCBT Faculty Publications

This study proposes relative inflation forecast targeting as an operational framework of monetary policy for adopting the euro by the EU new Member States. This strategy assumes containing differentials between the domestic and the eurozone inflation forecasts as an operational target. A model prescribing the RIFT framework is presented along with a set of appropriate policy indicator variables and instrument rules. The proposed framework advances the strategy based on relatively strict inflation targeting that is currently pursued by some NMS. Several ARCHclass tests in various functional forms are employed for providing preliminary empirical evidence on convergence of inflation differentials relative …

The Importance Of Education-Occupation Matching In Migration Decisions, Michael A. Quinn, Stephen D. Rubb

WCBT Faculty Publications

In this article, we present and test a model that incorporates education-occupation matching into the migration decision. The literature on education-occupation matching shows that earnings are affected by how individuals' education matches that required by their occupation. Accordingly, individuals with more schooling than required by their occupation have an additional incentive to migrate: the increase in earnings that occurs with a more beneficial education-occupation match. Using data from Mexico, we found statistical support for the importance of education-occupation matching in migration decisions. Education-occupation matching provides a plausible explanation for the mixed findings in the literature on the relationship between educational …

Irony And Organizations: Epistemological Claims And Supporting Field Stories, Ulla Johansson, Ed., Jill Woodilla, Ed.

WCBT Faculty Publications

"Irony, in the writings of these scholars from different parts of the world, demonstrates once again that ""what"" we know is tenuous and at the same time closely intertwined with ""how"" we know and represent that knowledge. And while each chapter approaches irony from a slightly different angle, they share a common assumption - that irony can be used to enhance practice."

An Empirical Review Of Us Corporate Default Swap Valuation: The Implications Of Functional Forms, Kwamie Dunbar

WCBT Faculty Publications

This paper first develops a reduced form three-factor model for valuing credit default premia that is used to provide implicit prices which are then compared with market prices of credit default swaps to determine if swap rates adequately reflects market risks. This model extends Jarrow (2001) two-factor model by adding three new features to enhance the effectiveness of the model and add to the growing debate on the empirical pricing of credit default swap and the effectiveness of reduce form models. Firstly, the extended model retains Jarrow's mean reverting properties but will be extended to be arbitrage free because of …

Social Marketing Applications And Transportation Demand Management: An Information Instrument For The 21st Century, Enda Mcgovern

WCBT Faculty Publications

Concern has been expressed by planners and policy-makers that the “add capacity” strategy used in building more roads to resolve traffic-induced problems is no longer a feasible option. This article explores private transport behavior in understanding how users can be persuaded to adopt a more blended approach (i.e., integrating car, public transportation, and alternative modes on a daily basis). The research methodology adopted focus groups and travel diaries in presenting a number of social marketing message appeals aimed at inducing a change in participants’ travel behaviors. While weaknesses are identified in the social marketing materials, this research concludes that social …

Feasibility And Timing Of The Euro Adoption By The New Eu Member States, Lucjan Orlowski

WCBT Faculty Publications

The 10 new member states are now facing the challenge of framing and implementing policies for adopting the euro. They are all bound by the EU Treaty to replace their national currencies with the euro at some future time as they were admitted to the Union with a derogation to this effect. In order to prepare adequately for entry to the euro area, the candidates need to undergo fiscal and monetary convergence. In principle, they should refrain from lax fiscal policies that could skew the eurozone policy mix by forcing the European Central Bank (ECB) to tighten monetary policy. They …

The Challenge Of Economic Growth, Thomas D. Corrigan

WCBT Faculty Publications

In order to sustain Connecticut's competitive edge, state government must act as a catalyst in bringing forth the human and capital resources need to make sure that Connecticut's future labor force can successively acquire the skills demanded by the business sector. Looking beyond 2005, and in concert with a competitive tax and regulatory environment, the nurturing of the identified business clusters holds great promise for a renewal of economic vitality.

The Relationship Between Import Prices And Inflation In The United States, Thomas D. Corrigan

WCBT Faculty Publications

Inflation has been a non-issue in the United States in recent years despite strong economic growth, on balance, and falling unemployment. Some analysts believe that "new economy" dynamics are responsible for this favorable outcome and further claim that the traditional Phillips curve tradeoff between growth and inflation is no longer a valid assumption underlying economic policy decisions. Others believe that the Phillips curve is indeed alive and well but that favorable "supply shocks" have masked the still relevant tradeoff between growth and price stability. One potential "supply shock" candidate is a declining trend in the cost of imports into the …