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The aim of this paper is to clarify the role of money supply as the most important target of the classical monetary policy for the price stability, infl ation and economic growth. The theory of monetary policy was developed by observing the money supply. The simple relationship of the monetary policy including all instruments, targets and goals contains a huge number of empirical models which express relationship between money supply and demand, interest rates and asset prices. Accepting all determinations about regulation of money supply including the theory of quantity of money, money supply is described as supplementary function of inflation, interest rate, wealth, human capital, etc. The problem is to determine how the arguments will have influence on the money supply growth, which argument will initiate higher inflation, when and how long monetary policy instruments should be used. Using empirical models we examined relationship between money supply and assets value. Differentiation of the bond and money market was provided by the author using partial derivatives for estimating interaction between interest rates, prices, money supply, and assets value. Pinigų pasiūla ir turto vertė Santrauka. Pastaraisiais metais infliacijos augimas pasaulio ekonomikoje siejamas daugiausia su kylančiomis energinių išteklių kainomis. Tokio pobūdžio infliaciją, kurią lemia importuojamų žaliavų kainos, galima vertinti kaip išorinių veiksnių keliamą grėsmę tolesniam vis daugiau plintančiam kainų augimui, kurį sustabdyti gali tik racionaliai naudojamos pinigų politikos priemonės kartu su fi skalinės politikos priemonėmis. Straipsnyje analizuojama pinigų pasiūlos ir turto vertės sąveika. Pinigų pasiūla (pinigų kiekis) yra svarbiausias pinigų politikos svertas, veikiantis infliaciją, o kartu ir turto vertę. Analizei naudojami metodai ir dėl empirinių tyrimų gautos lygtys, kurias diferencijuodama pagal pinigų ir vertybinių popierių rinkos rodiklius autorė gauna išvestines ir parodo sąveiką tarp palūkanų, kainų, pinigų pasiūlos ir turto vertės. Reikšminiai žodžiai: pinigų politika, pinigų pasiūla, turto vertė, monetariniai instrumentai, svertai. First published online: 19 Sep 2008

PurposeThe purpose of this paper is to identify and discuss the key policy challenges for OECD countries both at macro and micro level to develop and use their intellectual assets in order to obtain economic returns.Design/methodology/approachThe paper takes the approach of econometrics studies to gauge the impact of intellectual assets on national accounts and a stocktake of all existing initiatives, frameworks and guidelines relating to extra‐financial corporate reporting on intellectual assets.FindingsThe paper provides macro data on the contribution of investments in intellectual assets to productivity and economic growth in OECD countries and presents the challenges in terms of corporate reporting and corporate governance that result from the increasing importance of intellectual assets for growth and competitiveness. It then provides a stock‐take of existing guidelines and frameworks in OECD countries that encourage companies to report on their intellectual assets and their strategies to create value.Practical implicationsThe paper provides policy recommendations to better understand the role of intellectual assets, improve their contribution to economic growth, and to enhance information on intellectual assets and the diffusion of good practices.Originality/valueThe value of the paper is that it contributes to mitigating the difficulties to assess the contribution of intellectual assets on national accounts that is crucial to obtain an accurate picture of economic growth, downturns and investments. It also contributes to the debate on how to overcome the limits of accounting standards to recognize intellectual assets so as to improve companies' valuation and lower their cost of capital.

AbstractIn today's economy, more and more organisations are realising that they must explicitly manage their knowledge resources to acquire and maintain their competitive advantage. For this reason, managers need to better understand how they can identify and evaluate existing knowledge resources within an organisation and how to manage them in order to achieve competitive advantage.Many organisations frequently embark on Knowledge Management (KM) initiatives without a clear idea of what business benefits they could expect. This is mainly due to lack of understanding of the links between KM and company's business performance. Understanding these links supports the validation of KM investment and can help explain what knowledge should be managed within an organisation to achieve performance improvement. It appears from literature analysis, that there is not straightforward link between KM and company's performance but rather a complex relationship. In such a prospect, the main research question that has inspired this study is: 'How can an organisation plan and evaluate a KM initiative designed to improve company's performances?' On the base of this question, this paper provides a framework—the Knowledge Assets Value Spiral (KAVS)—which focuses on how to apply KM initiatives in a step by step process to achieve company's performance improvements. The framework provides guidelines to plan, implement and evaluate KM initiatives that are linked to performance objectives. It is illustrated how organisations can identify their key knowledge assets as well as their interdependencies and better understand their role in causal dynamics in company's value delivering. The application of the Analytic Hierarchy Process (AHP) method is proposed and a case example describing the application of the framework is illustrated. Copyright © 2006 John Wiley & Sons, Ltd.

Every organization has mission-critical information and technology assets that require enhanced security. Private organizations may identify these assets informally or rely on community knowledge to decide how to prioritize security resources. Federal government departments and agencies, however, have official guidelines for identifying and securing their high value assets. These guidelines can provide lessons for all organizations protecting their most critical assets. This blog post will outline the background of the federal High Value Asset (HVA) Program, explain the resources available to guide the securing of high value assets, and discuss ways to apply these resources to your own assets.

PurposeThe purpose of this paper is to provide examples and technical details for conducting a value network analysis that addresses the conversion and utilisation of intangible assets.Design/methodology/approachValue network analysis was first developed in 1993 and was adapted in 1997 for intangible asset management. It has been tested in applications from shop floor work groups to business webs and economic regions. It draws from a theory based in living systems, knowledge management, complexity theory, system dynamics, and intangible asset management.FindingsThe paper provides a high level of detail on the analysis method and insights from its practical application across a range of business issues. Tips are provided for how to integrate the methodology with other business analysis approaches.Research limitations/implicationsThe paper does not provide a comparative analysis with other methods because most other value network models are process views, social network analysis or clustering techniques.Practical implicationsSufficient detail is provided so researchers and practitioners will be able to apply the method in their own investigations. Further resources are noted, as well as access points to the global user community and open source tools.Originality/valueThis paper is the first detailed publication of the value network analysis method, which has been acclaimed by experts in intangibles, network analysis, knowledge management, and process analysis. It fills a gap between theory and practice for managers, executives, analysts, and researchers.

Although consolation is one of the classic religious subjects it plays no role in the current debate about religious emotions. One reason for this neglect could be that this debate is mostly based on classical emotions such as joy and fear, love and hope, and that consolation is not understood as an emotion. This paper tries to show that consolation in fact can and should be seen as an emotion. After naming and refuting some reasons that speak against taking consolation to be an emotion, I will explain how consolation can be positively conceptualized as an emotion within a recent theory of emotions. It will be decisive to see that the experience of consolation can be understood not only hedonistically-qualitatively, but also intentionally. This structural conception allows for a differentiated description of various types of consolation as an emotion, also, in the tradition of William James, of a secular as well as a religious form of consolation.