Suchergebnisse

Using a rich data set on government spending forecasts in Japan, we provide new evidence on the effects of unexpected changes in government spending when the nominal interest rate is near the zero lower bound (ZLB). The on-impact output multiplier is 1.5 in the ZLB period, and 0.6 outside of it. We estimate that government spending shocks increase both private consumption and investment during the ZLB period but crowd them out in the normal period. There is evidence that expected inflation increases by more in the ZLB period than in the normal period.

Using panel data on military spending for 125 countries, we document new facts about the effects of changes in government purchases on the real exchange rate, consumption, and current accounts in both advanced and developing countries. While an increase in government purchases causes real exchange rates to appreciate and increases consumption significantly in developing countries, it causes real exchange rates to depreciate and decreases consumption in advanced countries. The current account deteriorates in both groups of countries. These findings are not consistent with standard international business-cycle models. We investigate whether the difference between advanced economies and developing countries in the responses of real exchange rates to spending shocks can be explained by alternative hypotheses.

Based on previous theoretical models, the present research investigated three different psychological constructs (religious belief, trust in government, and the experience of personal control) as moderators of the link between country's economic growth (i.e., Gross Domestic Product) and income inequality (i.e., Gini) on health, happiness, and life satisfaction. Using a large cross-national data set (N = 490,579), we found that personal control predicted health, happiness, and life satisfaction above and beyond reliance on God and trust in government. Religious belief predicted greater health and buffered the negative effect of income inequality on health only in wealthy economies, but yielded negative correlations with health in poor economies. The associations between personal control and trust in government with well-being outcomes were consistently positive across different levels of countries' GDP and Gini. Further, personal control also served a compensatory function by buffering the negative effect of income inequality in wealthy economies. ; peerReviewed ; publishedVersion

The construction of an importance density for partially non‐Gaussian state space models is crucial when simulation methods are used for likelihood evaluation, signal extraction, and forecasting. The method of efficient importance sampling is successful in this respect, but we show that it can be implemented in a computationally more efficient manner using standard Kalman filter and smoothing methods. Efficient importance sampling is generally applicable for a wide range of models, but it is typically a custom‐built procedure. For the class of partially non‐Gaussian state space models, we present a general method for efficient importance sampling. Our novel method makes the efficient importance sampling methodology more accessible because it does not require the computation of a (possibly) complicated density kernel that needs to be tracked for each time period. The new method is illustrated for a stochastic volatility model with a Student's t distribution.

PurposeThis study aimed to investigate the impact of job embeddedness (JE) on the turnover intention (TI) of the public sector with the mediating effect of the individual factor (i.e. life satisfaction [LS]) and the moderating effect of the leadership style (i.e. ethical leadership [EL]).Design/methodology/approachThis study adopted a quantitative design to collect data from 236 employees working in the public sector in Vietnam through field research using structured questionnaires. Data were analysed using partial least squares structural equation modelling (PLS-SEM) to test the hypotheses.FindingsThe results show that JE negatively affects the TI of public sector employees through the mediation effect of LS. Additionally, this study indicates that EL moderates the relationship between JE and TI.Practical implicationsThis study implies that public sector stakeholders should consider both individual and contextual factors to manage and retain employees. In addition to addressing employees' embeddedness with the organisation and community and their LS, public organisations need to focus on hiring, training and promoting ethical leaders.Originality/valueThis study highlights the role of embeddedness within both the organisation and the community, along with the role of EL in the LS and TI of public sector employees.

This document describes the Life Cycle Management Plan for the development of a high assurance secure product. A high assurance product is one for which its users have a high level of confidence that its security policies will be enforced continuously and correctly. Such products are constructed so that they can be analyzed for these characteristics. Lifecycle activities ensure that the product reflects the intent to ensure that the product is trustworthy and that vigorous efforts have been made to ensure the absence of unspecified functionality, whether accidental or intentional. The purpose of this plan is to provide the personnel policy necessary to protect the confidentiality and integrity of a product during the development and maintenance phases of its life cycle. Integrity is the primary concern of this plan, though confidentiality is not disregarded. ; Prepared for United States Navy, OPNAV N2/N6 and funded in part by United States Navy, OPNAV N2/N6. A portion of the material presented here is based upon work supported by the National Science Foundation under Grant No. CNS-0430566 and CNS-0430598. ; Approved for public release; distribution is unlimited.

The pace of modern warfare requires tools that support intensive, ongoing collaboration between participants. Wiki technology provides a hypertext content-based collaborative authoring and information sharing environment that includes the ability to create links to other web contents, relative stability, ease of use, and logging features for tracking contributions and modifications. Military environments impose a requirement to enforce national policies regarding authorized access to classified information while satisfying the intent of wikis to provide an open context for content sharing. The Global Information Grid (GIG) vision calls for a highly flexible multilevel environment. The Monterey Security Architecture (MYSEA) Test-bed provides a distributed high assurance multilevel networking environment where authenticated users securely access data and services at different classification levels. The MYSEA approach is to provide users with unmodified commercial-off-the-shelf office productivity tools while enforcing a multilevel security (MLS) policy with high assurance. The extensible Test-bed architecture is designed with strategically placed trusted components that comprise the distributed TCB, while untrusted commercial clients support the user interface. We have extended the collaboration capabilities of MYSEA through the creation of a multilevel wiki. This wiki permits users who access the system at a particular sensitivity level to read and post information to the wiki at that level. Users at higher sensitivity levels may read wiki content at lower security levels and may post information at the higher security level. The underlying MLS policy enforcement mechanisms prevent low users from accessing higher sensitivity information. The multilevel wiki was created by porting a publicly available wiki engine to run on the high assurance system hosting the MYSEA server. A systematic process was used to select a wiki for the MYSEA environment. TWiki was chosen. To simplify identification of errors that might arise in the porting process, a three-stage porting methodology was used. Functional and security tests were performed to ensure that the wiki engine operates properly while being constrained by the underlying policy enforcement mechanisms of the server. An objective in designing the test plans was to ensure adequate test coverage, while avoiding a combinatoric explosion of test cases. Repeatable regression testing procedures were also produced. A conflict between the application-level DAC policy of the wiki and that of the MYSEA server was identified and resolved. ; Approved for public release; distribution is unlimited.