University of Glasgow

Displaying 1-33 of 33 results

  • White Papers // Jul 2013

    What Influences the Success of Manufacturing SMEs? a Perspective From Tangier

    The important contribution of a vibrant and thriving Small and Medium Enterprise (SME) sector in the national socio-economic development of a country has been widely recognized. In view of its increasing importance, success of Small and Medium Enterprises (SMEs) has been of interest to several researchers, international organizations, and policy...

    Provided By University of Glasgow

  • White Papers // Mar 2012

    Performance Analysis of AL-FEC for RTP-Based Streaming Video Traffic to Residential Users

    Real-time applications used by residential customers, such as streaming video and IPTV, are sensitive to packet losses, whether due to IP-layer congestion, or link-layer problems such as bit errors induced by impulse noise. To achieve acceptable user experience for these applications, numerous Application-Layer Forward Error Correction (AL-FEC) schemes have been...

    Provided By University of Glasgow

  • White Papers // Dec 2011

    A Traffic Locality Oriented Route Discovery Algorithm for MANETs

    The authors introduce a new approach to traffic locality then use it to develop a new route discovery algorithm. The algorithm, they named Traffic Locality-Expanding Ring Search (TL-ERS), improves the route discovery process for MANETs that exhibit traffic locality by establishing a neighbourhood that includes the most likely destinations for...

    Provided By University of Glasgow

  • White Papers // Jun 2011

    Advances and Challenges of Probabilistic Model Checking

    Probabilistic model checking is a powerful technique for formally verifying quantitative properties of systems that exhibit stochastic behaviour. Such systems are found in many domains: probabilistic behaviour may arise, for example, due to failures of unreliable components, communication across lossy media, or through the use of randomisation in distributed protocols....

    Provided By University of Glasgow

  • White Papers // Jun 2011

    Corruption And Financial Intermediation In A Panel Of Regions: Cross-Border Effects Of Corruption

    The importance of financial market reforms in combating corruption has been highlighted in the theoretical literature but has not been systemically tested empirically. In this paper, the authors provide a first pass at testing this relationship using both linear and non-monotonic forms of the relationship between corruption and financial intermediation....

    Provided By University of Glasgow

  • White Papers // Jan 2011

    International Capital Flows To Emerging And Developing Countries: National And Global Determinants

    This paper examines international capital flows to emerging and developing countries. The authors assess whether commonalities exist, the permanence of shocks to commonalities and their determinants. Also, they consider individual country coherence with global capital flows and they measure the extent of co-movements in the volatility of capital flows. The...

    Provided By University of Glasgow

  • White Papers // Dec 2010

    Does China Overinvest? Evidence From A Panel Of Chinese Firms

    This paper addresses the hotly-debated question: do Chinese firms overinvest? A firm-level dataset of 100,000 firms over the period of 2000-07 is employed for this purpose. The authors initially calculate measures of investment efficiency, which is typically negatively associated with overinvestment. Despite wide disparities across various ownership groups, industries and...

    Provided By University of Glasgow

  • White Papers // Dec 2010

    Negative Investment In China: Financing Constraints And Restructuring Versus Growth

    This paper attempts to address a puzzle in China's investment pattern: despite high aggregate investment and remarkable economic growth, negative net investment is commonly found at the microeconomic level. Using a large firm-level dataset, the authors test three hypotheses to explain the existence and extent of negative investment in each...

    Provided By University of Glasgow

  • White Papers // Dec 2010

    Investment And Financing Constraints In China: Does Working Capital Management Make A Difference?

    The authors use a panel of over 120,000 Chinese firms of different ownership types over the period 2000-2007 to analyze the linkages between investment in fixed and working capital and financing constraints. They find that those firms characterized by high working capital display high sensitivities of investment in working capital...

    Provided By University of Glasgow

  • White Papers // Nov 2010

    Picking Pockets on the Lawn: The Development of Tactics and Strategies in a Mobile Game

    This paper presents Treasure, an outdoor mobile multiplayer game inspired by Weiser's notion of seams, gaps and breaks in different media. Playing Treasure involves movement in and out of a wi-fi network, using PDAs to pick up virtual 'Coins' that may be scattered outside network coverage. Coins have to be...

    Provided By University of Glasgow

  • White Papers // Oct 2010

    On Monetary Policy And Stock Market Anomalies

    This study utilizes a macro-based VAR framework to investigate whether stock portfolios formed on the basis of their value, size and past performance characteristics are affected in a differential manner by unexpected US monetary policy actions during the period 1967-2007. Full sample results show that value, small capitalization and past...

    Provided By University of Glasgow

  • White Papers // Sep 2010

    The EMU Sovereign-Debt Crisis: Fundamentals, Expectations And Contagion

    The authors offer a detailed empirical investigation of the European sovereign debt crisis based on the theoretical model by Arghyrou and Tsoukalas (2010). They find evidence of a marked shift in market pricing behaviour from a 'Convergence-trade' model before August 2007 to one driven by macro-fundamentals and international risk thereafter....

    Provided By University of Glasgow

  • White Papers // Sep 2010

    A Framework for VerifiCation of Software With Time and Probabilities

    Quantitative verification techniques are able to establish system properties such as "The probability of an airbag failing to deploy on demand" or "The expected time for a network protocol to successfully send a message packet". In this paper, the authors describe a framework for quantitative verification of software that exhibits...

    Provided By University of Glasgow

  • White Papers // Aug 2010

    Discretionary Policy In A Monetary Union With Sovereign Debt

    This paper examines the interactions between multiple national fiscal policymakers and a single monetary policy maker in response to shocks to government debt in some or all of the countries of a monetary union. The authors assume that national governments respond to excess debt in an optimal manner, but that...

    Provided By University of Glasgow

  • White Papers // Jul 2010

    Can Small Investors Exploit The Momentum Effect? Financial Markets And Portfolio Management

    This paper uses U.K. data and investigates whether small investors can exploit the continuation effect in share prices. Individual traders are not in a financial position to buy and sell short hundreds of firms, as suggested by existing academic research, and thus this paper uses extreme performance companies to implement...

    Provided By University of Glasgow

  • White Papers // Jul 2010

    Inflation And Globalisation: A Dynamic Factor Model With Stochastic Volatility

    National inflation rates reflect domestic and international (regional and global) influences. The relative importance of these components remains a controversial empirical issue. The authors extend the literature on inflation co-movement by utilizing a dynamic factor model with stochastic volatility to account for shifts in the variance of inflation and endogenously...

    Provided By University of Glasgow

  • White Papers // Jul 2010

    A Conceptual Framework For Changes In Fund Management And In Their Accountability For ESG Issues

    In the past decade the significance of Environmental, Social and Governance (ESG) factors in investment processes and ownership practices has become very high profile especially with regard to financial markets and investing financial institutions. This paper reveals a new conceptual framework for Fund Management (FM) based on field based empirical...

    Provided By University of Glasgow

  • White Papers // Jul 2010

    Knowledge And Crisis - A Case Of Knowledge And Learning Failure - By Bankers, Shareholders, Auditors, Accountants, Rating Agencies & Regulators

    Regulators such as Turner (2009) have identified excessive securitization, high leverage, extensive market trading and a bonus culture, as being major factors in bringing about the bank centered financial crisis of 2007-9. The core idea of this paper is that a lack of banking knowledge and history amongst bankers, shareholders,...

    Provided By University of Glasgow

  • White Papers // Apr 2010

    Factors Affecting Audit Quality In The 2007 UK Regulatory Environment: Perceptions Of Chief Financial Officers, Audit Committee Chairs And Audit Engagement Partners

    In line with global changes, the UK regulatory regime for audit and corporate governance has changed significantly since the Enron scandal, with an increased role for audit committees and independent inspection of audit firms. UK listed company Chief Financial Officers (CFOs), Audit Committee Chairs (ACCs) and Audit Partners (APs) were...

    Provided By University of Glasgow

  • White Papers // Mar 2010

    Financial Liberalisation And Industrial Development In Malawi

    It has been suggested that financial liberalisation may be a key policy to promote industrialisation as it removes the credit access constraint on firms, especially small and medium ones. The authors investigate the effect of credit expansion in the wake of liberalisation on the structure of the industrial sectors in...

    Provided By University of Glasgow

  • White Papers // Feb 2010

    An Investigation Of Customer Order Flow In The Foreign Exchange Market

    This paper examines the effect that heterogeneous customer orders flows have on exchange rates by using a new, and the largest, proprietary dataset of weekly net order flow segmented by customer type across nine of the most liquid currency pairs. The authors make several contributions. Firstly, they investigate the extent...

    Provided By University of Glasgow

  • White Papers // Jan 2010

    Rethinking The Music Industry

    This paper examines a very basic question for popular music studies: what is 'The music industry?' It surveys the usage of the term in various arenas and argues that it is often used in ways which state or imply that the industry is a homogenous unit with shared objectives and...

    Provided By University of Glasgow

  • White Papers // Jan 2010

    Integration of the ATLAS Tag Database With Data Management and Analysis Components

    The ATLAS Tag Database is an event-level metadata system, designed to allow efficient identification and selection of interesting events for user analysis. By making first-level cuts using queries on a relational database, the size of an analysis input sample could be greatly reduced and thus the time taken for the...

    Provided By University of Glasgow

  • White Papers // Jan 2010

    Industrial Structure, Trade And Regional Economics: Market Segmentation

    The authors consider a general equilibrium model a la Bhaskar (Review of Economic Studies 2002): there are complementarities across sectors, each of which comprises (many) heterogeneous monopolistically competitive firms. Bhaskar's models are extended in two directions: production requires capital, and labor markets are segmented. Labor market segmentation models the difficulties...

    Provided By University of Glasgow

  • White Papers // Oct 2009

    On the Scalability of RTCP-Based Network Tomography for IPTV Services

    Quality of Experience (QoE) is an important, and admittedly overloaded, concept for the emerging IPTV services. Service providers are continuously working towards delivering a better TV experience. To this effect, cost-effective and scalable tools are highly desirable for QoE monitoring, diagnostics and reporting. In this paper, the authors demonstrate that...

    Provided By University of Glasgow

  • White Papers // Sep 2009

    Behaviour And Investment Actions Within Fund Managers And Their Markets - A Grounded Theory Of Fund Management

    The financial crisis of 2007-09 has raised questions concerning orthodox ideas of how financial markets operate and how financial institution behave in such market settings. The crisis has revealed the need for new thinking in these areas. Much effort is being expended on how to improve behavioural concepts of markets,...

    Provided By University of Glasgow

  • White Papers // Sep 2009

    Monetary And Fiscal Policy Under Deep Habits

    Recent work on optimal policy in sticky price models suggests that demand management through fiscal policy adds little to optimal monetary policy. The authors explore this consensus assignment in an economy subject to 'Deep' habits at the level of individual goods where the counter-cyclicality of mark-ups this implies can result...

    Provided By University of Glasgow

  • White Papers // Jun 2009

    Short-Run Strategies For Attracting Foreign Direct Investment

    This paper empirically investigates the effectiveness and feasibility of two FDI policies, fiscal incentives and deregulation, aimed at improving the attractiveness of a country in the short run. Using disaggregated data on sales by US MNEs' foreign affiliates in 43 developed and developing countries over the 1982-1994 periods, results show...

    Provided By University of Glasgow

  • White Papers // Apr 2009

    Dynamic Option Adjusted Spread And The Value Of Mortgage Backed Securities

    The authors extend a reduced form model for pricing pass-through Mortgage Backed Securities (MBS) and provide a novel hedging tool for investors in this market. To calculate the price of an MBS, traders use what is known as Option-Adjusted Spread (OAS). The resulting OAS value represents the required basis points...

    Provided By University of Glasgow

  • White Papers // Apr 2009

    Multilevel Governance Versus Cohesion Policy

    Diverse regional development theories provide regional authorities with multiple ways of directing their developmental efforts. Nevertheless, money is the considerable problem and one of the major challenges that regional authorities face nowadays. Central and East European (CEE) regions are even at the worst position. In contrast to their western counterparts,...

    Provided By University of Glasgow

  • White Papers // Mar 2009

    Spillover And Backward Linkage Effects Of FDI: Empirical Evidence For The UK

    Recent work (including that of the author) on the impact of FDI has been based on micro-level (i.e. firms, establishments or plants) data, since this allows much greater control when examining such issues as whether FDI plants are more productive or innovative; whether there are spillovers to indigenous plants from...

    Provided By University of Glasgow

  • White Papers // Jan 2009

    Climbing To The Top? Foreign Direct Investment And Property Rights

    This paper operates at the interface of the literature on the impact of Foreign Direct Investment (FDI) on host countries, and the literature on the determinants of institutional quality. The authors argue that FDI contributes to economic development by improving institutional quality in the host country and they attempt to...

    Provided By University of Glasgow

  • White Papers // Feb 2003

    Accessible Music: Meeting the Needs of the Print Impaired

    The traditional approach taken to the provision of music for the print impaired by major organizations has been largely concerned with Braille Music. However, reading Braille Music is a specialized skill and not all visually impaired people can learn this skill. There are some technologies available which allow the print-impaired...

    Provided By University of Glasgow

  • White Papers // Feb 2010

    An Investigation Of Customer Order Flow In The Foreign Exchange Market

    This paper examines the effect that heterogeneous customer orders flows have on exchange rates by using a new, and the largest, proprietary dataset of weekly net order flow segmented by customer type across nine of the most liquid currency pairs. The authors make several contributions. Firstly, they investigate the extent...

    Provided By University of Glasgow

  • White Papers // Jun 2009

    Short-Run Strategies For Attracting Foreign Direct Investment

    This paper empirically investigates the effectiveness and feasibility of two FDI policies, fiscal incentives and deregulation, aimed at improving the attractiveness of a country in the short run. Using disaggregated data on sales by US MNEs' foreign affiliates in 43 developed and developing countries over the 1982-1994 periods, results show...

    Provided By University of Glasgow

  • White Papers // Jan 2009

    Climbing To The Top? Foreign Direct Investment And Property Rights

    This paper operates at the interface of the literature on the impact of Foreign Direct Investment (FDI) on host countries, and the literature on the determinants of institutional quality. The authors argue that FDI contributes to economic development by improving institutional quality in the host country and they attempt to...

    Provided By University of Glasgow

  • White Papers // Apr 2009

    Dynamic Option Adjusted Spread And The Value Of Mortgage Backed Securities

    The authors extend a reduced form model for pricing pass-through Mortgage Backed Securities (MBS) and provide a novel hedging tool for investors in this market. To calculate the price of an MBS, traders use what is known as Option-Adjusted Spread (OAS). The resulting OAS value represents the required basis points...

    Provided By University of Glasgow

  • White Papers // Jul 2010

    A Conceptual Framework For Changes In Fund Management And In Their Accountability For ESG Issues

    In the past decade the significance of Environmental, Social and Governance (ESG) factors in investment processes and ownership practices has become very high profile especially with regard to financial markets and investing financial institutions. This paper reveals a new conceptual framework for Fund Management (FM) based on field based empirical...

    Provided By University of Glasgow

  • White Papers // Jul 2010

    Knowledge And Crisis - A Case Of Knowledge And Learning Failure - By Bankers, Shareholders, Auditors, Accountants, Rating Agencies & Regulators

    Regulators such as Turner (2009) have identified excessive securitization, high leverage, extensive market trading and a bonus culture, as being major factors in bringing about the bank centered financial crisis of 2007-9. The core idea of this paper is that a lack of banking knowledge and history amongst bankers, shareholders,...

    Provided By University of Glasgow

  • White Papers // Jan 2011

    International Capital Flows To Emerging And Developing Countries: National And Global Determinants

    This paper examines international capital flows to emerging and developing countries. The authors assess whether commonalities exist, the permanence of shocks to commonalities and their determinants. Also, they consider individual country coherence with global capital flows and they measure the extent of co-movements in the volatility of capital flows. The...

    Provided By University of Glasgow

  • White Papers // Mar 2009

    Spillover And Backward Linkage Effects Of FDI: Empirical Evidence For The UK

    Recent work (including that of the author) on the impact of FDI has been based on micro-level (i.e. firms, establishments or plants) data, since this allows much greater control when examining such issues as whether FDI plants are more productive or innovative; whether there are spillovers to indigenous plants from...

    Provided By University of Glasgow

  • White Papers // Dec 2010

    Does China Overinvest? Evidence From A Panel Of Chinese Firms

    This paper addresses the hotly-debated question: do Chinese firms overinvest? A firm-level dataset of 100,000 firms over the period of 2000-07 is employed for this purpose. The authors initially calculate measures of investment efficiency, which is typically negatively associated with overinvestment. Despite wide disparities across various ownership groups, industries and...

    Provided By University of Glasgow

  • White Papers // Dec 2010

    Negative Investment In China: Financing Constraints And Restructuring Versus Growth

    This paper attempts to address a puzzle in China's investment pattern: despite high aggregate investment and remarkable economic growth, negative net investment is commonly found at the microeconomic level. Using a large firm-level dataset, the authors test three hypotheses to explain the existence and extent of negative investment in each...

    Provided By University of Glasgow

  • White Papers // Apr 2010

    Factors Affecting Audit Quality In The 2007 UK Regulatory Environment: Perceptions Of Chief Financial Officers, Audit Committee Chairs And Audit Engagement Partners

    In line with global changes, the UK regulatory regime for audit and corporate governance has changed significantly since the Enron scandal, with an increased role for audit committees and independent inspection of audit firms. UK listed company Chief Financial Officers (CFOs), Audit Committee Chairs (ACCs) and Audit Partners (APs) were...

    Provided By University of Glasgow

  • White Papers // Jun 2011

    Corruption And Financial Intermediation In A Panel Of Regions: Cross-Border Effects Of Corruption

    The importance of financial market reforms in combating corruption has been highlighted in the theoretical literature but has not been systemically tested empirically. In this paper, the authors provide a first pass at testing this relationship using both linear and non-monotonic forms of the relationship between corruption and financial intermediation....

    Provided By University of Glasgow

  • White Papers // Jul 2010

    Can Small Investors Exploit The Momentum Effect? Financial Markets And Portfolio Management

    This paper uses U.K. data and investigates whether small investors can exploit the continuation effect in share prices. Individual traders are not in a financial position to buy and sell short hundreds of firms, as suggested by existing academic research, and thus this paper uses extreme performance companies to implement...

    Provided By University of Glasgow

  • White Papers // Mar 2010

    Financial Liberalisation And Industrial Development In Malawi

    It has been suggested that financial liberalisation may be a key policy to promote industrialisation as it removes the credit access constraint on firms, especially small and medium ones. The authors investigate the effect of credit expansion in the wake of liberalisation on the structure of the industrial sectors in...

    Provided By University of Glasgow

  • White Papers // Aug 2010

    Discretionary Policy In A Monetary Union With Sovereign Debt

    This paper examines the interactions between multiple national fiscal policymakers and a single monetary policy maker in response to shocks to government debt in some or all of the countries of a monetary union. The authors assume that national governments respond to excess debt in an optimal manner, but that...

    Provided By University of Glasgow

  • White Papers // Sep 2010

    The EMU Sovereign-Debt Crisis: Fundamentals, Expectations And Contagion

    The authors offer a detailed empirical investigation of the European sovereign debt crisis based on the theoretical model by Arghyrou and Tsoukalas (2010). They find evidence of a marked shift in market pricing behaviour from a 'Convergence-trade' model before August 2007 to one driven by macro-fundamentals and international risk thereafter....

    Provided By University of Glasgow

  • White Papers // Jun 2011

    Advances and Challenges of Probabilistic Model Checking

    Probabilistic model checking is a powerful technique for formally verifying quantitative properties of systems that exhibit stochastic behaviour. Such systems are found in many domains: probabilistic behaviour may arise, for example, due to failures of unreliable components, communication across lossy media, or through the use of randomisation in distributed protocols....

    Provided By University of Glasgow

  • White Papers // Dec 2011

    A Traffic Locality Oriented Route Discovery Algorithm for MANETs

    The authors introduce a new approach to traffic locality then use it to develop a new route discovery algorithm. The algorithm, they named Traffic Locality-Expanding Ring Search (TL-ERS), improves the route discovery process for MANETs that exhibit traffic locality by establishing a neighbourhood that includes the most likely destinations for...

    Provided By University of Glasgow

  • White Papers // Mar 2012

    Performance Analysis of AL-FEC for RTP-Based Streaming Video Traffic to Residential Users

    Real-time applications used by residential customers, such as streaming video and IPTV, are sensitive to packet losses, whether due to IP-layer congestion, or link-layer problems such as bit errors induced by impulse noise. To achieve acceptable user experience for these applications, numerous Application-Layer Forward Error Correction (AL-FEC) schemes have been...

    Provided By University of Glasgow

  • White Papers // Sep 2010

    A Framework for VerifiCation of Software With Time and Probabilities

    Quantitative verification techniques are able to establish system properties such as "The probability of an airbag failing to deploy on demand" or "The expected time for a network protocol to successfully send a message packet". In this paper, the authors describe a framework for quantitative verification of software that exhibits...

    Provided By University of Glasgow

  • White Papers // Oct 2009

    On the Scalability of RTCP-Based Network Tomography for IPTV Services

    Quality of Experience (QoE) is an important, and admittedly overloaded, concept for the emerging IPTV services. Service providers are continuously working towards delivering a better TV experience. To this effect, cost-effective and scalable tools are highly desirable for QoE monitoring, diagnostics and reporting. In this paper, the authors demonstrate that...

    Provided By University of Glasgow

  • White Papers // Sep 2009

    Behaviour And Investment Actions Within Fund Managers And Their Markets - A Grounded Theory Of Fund Management

    The financial crisis of 2007-09 has raised questions concerning orthodox ideas of how financial markets operate and how financial institution behave in such market settings. The crisis has revealed the need for new thinking in these areas. Much effort is being expended on how to improve behavioural concepts of markets,...

    Provided By University of Glasgow

  • White Papers // Jan 2010

    Integration of the ATLAS Tag Database With Data Management and Analysis Components

    The ATLAS Tag Database is an event-level metadata system, designed to allow efficient identification and selection of interesting events for user analysis. By making first-level cuts using queries on a relational database, the size of an analysis input sample could be greatly reduced and thus the time taken for the...

    Provided By University of Glasgow

  • White Papers // Jan 2010

    Rethinking The Music Industry

    This paper examines a very basic question for popular music studies: what is 'The music industry?' It surveys the usage of the term in various arenas and argues that it is often used in ways which state or imply that the industry is a homogenous unit with shared objectives and...

    Provided By University of Glasgow

  • White Papers // Nov 2010

    Picking Pockets on the Lawn: The Development of Tactics and Strategies in a Mobile Game

    This paper presents Treasure, an outdoor mobile multiplayer game inspired by Weiser's notion of seams, gaps and breaks in different media. Playing Treasure involves movement in and out of a wi-fi network, using PDAs to pick up virtual 'Coins' that may be scattered outside network coverage. Coins have to be...

    Provided By University of Glasgow

  • White Papers // Apr 2009

    Multilevel Governance Versus Cohesion Policy

    Diverse regional development theories provide regional authorities with multiple ways of directing their developmental efforts. Nevertheless, money is the considerable problem and one of the major challenges that regional authorities face nowadays. Central and East European (CEE) regions are even at the worst position. In contrast to their western counterparts,...

    Provided By University of Glasgow

  • White Papers // Dec 2010

    Investment And Financing Constraints In China: Does Working Capital Management Make A Difference?

    The authors use a panel of over 120,000 Chinese firms of different ownership types over the period 2000-2007 to analyze the linkages between investment in fixed and working capital and financing constraints. They find that those firms characterized by high working capital display high sensitivities of investment in working capital...

    Provided By University of Glasgow

  • White Papers // Oct 2010

    On Monetary Policy And Stock Market Anomalies

    This study utilizes a macro-based VAR framework to investigate whether stock portfolios formed on the basis of their value, size and past performance characteristics are affected in a differential manner by unexpected US monetary policy actions during the period 1967-2007. Full sample results show that value, small capitalization and past...

    Provided By University of Glasgow

  • White Papers // Jul 2010

    Inflation And Globalisation: A Dynamic Factor Model With Stochastic Volatility

    National inflation rates reflect domestic and international (regional and global) influences. The relative importance of these components remains a controversial empirical issue. The authors extend the literature on inflation co-movement by utilizing a dynamic factor model with stochastic volatility to account for shifts in the variance of inflation and endogenously...

    Provided By University of Glasgow

  • White Papers // Jan 2010

    Industrial Structure, Trade And Regional Economics: Market Segmentation

    The authors consider a general equilibrium model a la Bhaskar (Review of Economic Studies 2002): there are complementarities across sectors, each of which comprises (many) heterogeneous monopolistically competitive firms. Bhaskar's models are extended in two directions: production requires capital, and labor markets are segmented. Labor market segmentation models the difficulties...

    Provided By University of Glasgow

  • White Papers // Sep 2009

    Monetary And Fiscal Policy Under Deep Habits

    Recent work on optimal policy in sticky price models suggests that demand management through fiscal policy adds little to optimal monetary policy. The authors explore this consensus assignment in an economy subject to 'Deep' habits at the level of individual goods where the counter-cyclicality of mark-ups this implies can result...

    Provided By University of Glasgow

  • White Papers // Jul 2013

    What Influences the Success of Manufacturing SMEs? a Perspective From Tangier

    The important contribution of a vibrant and thriving Small and Medium Enterprise (SME) sector in the national socio-economic development of a country has been widely recognized. In view of its increasing importance, success of Small and Medium Enterprises (SMEs) has been of interest to several researchers, international organizations, and policy...

    Provided By University of Glasgow

  • White Papers // Feb 2003

    Accessible Music: Meeting the Needs of the Print Impaired

    The traditional approach taken to the provision of music for the print impaired by major organizations has been largely concerned with Braille Music. However, reading Braille Music is a specialized skill and not all visually impaired people can learn this skill. There are some technologies available which allow the print-impaired...

    Provided By University of Glasgow