Mostrando recursos 1 - 4 de 4

  1. Leaving the mainstream behind? Uncovering subjective understandings of economics instructors' roles

    Gruszka, Katarzyna; Scharbert, Annika Regine; Soder, Michael
    In the wake of the economic crisis, a number of student organizations and researchers highlighted the lack of pluralism and heterodox approaches in economics curricula. The relevance of pluralism becomes clear once set within the implications of a given scientific discourse on reality (e.g. economics and policy making). This study explores the role of instructors in co-constructing the pluralism discourse and debates, while recognizing the role of institutional obstacles to change within the discipline. An empirical field study is conducted with lecturers in introductory economics courses at the WU Vienna University of Economics and Business where they place themselves within...
    (application/pdf) - 16-may-2017

  2. Fiscal rules and twin deficits: the link between fiscal and external balances.

    Badinger, Harald; Fichet de Clairfontaine, Aurélien; Reuter, Wolf Heinrich
    This paper investigates the relationship between countries' fiscal balances and current accounts with an emphasis on the role of fiscal rules. The direct effect of fiscal policy on the current account via aggregate (import) demand is potentially amplified by indirect effects, materialising through interest rate effects and intergenerational transfers that reduce savings. On the other hand, the implied positive relation between fiscal and external balances is potentially attenuated by offsetting changes in savings through Ricardian equivalence considerations. We expect this attenuation effect to be stronger in countries with more stringent fiscal rules and test this hypothesis using a panel of...
    (application/pdf) - 03-may-2017

  3. Multivariate Ordinal Regression Models: An Analysis of Corporate Credit Ratings

    Hirk, Rainer; Hornik, Kurt; Vana, Laura
    Correlated ordinal data typically arise from multiple measurements on a collection of subjects. Motivated by an application in credit risk, where multiple credit rating agencies assess the creditworthiness of a firm on an ordinal scale, we consider multivariate ordinal models with a latent variable specification and correlated error terms. Two different link functions are employed, by assuming a multivariate normal and a multivariate logistic distribution for the latent variables underlying the ordinal outcomes. Composite likelihood methods, more specifically the pairwise and tripletwise likelihood approach, are applied for estimating the model parameters. We investigate how sensitive the pairwise likelihood estimates are...
    (application/pdf) - 25-ene-2017

  4. Comprehension of Procedural Visual Business Process Models

    Figl, Kathrin
    Visual process models are meant to facilitate comprehension of business processes. However, in practice, process models can be difficult to understand. The main goal of this article is to clarify the sources of cognitive effort in comprehending process models. The article undertakes a comprehensive descriptive review of empirical and theoretical work in order to categorize and summarize systematically existing findings on the factors that influence comprehension of visual process models. Methodologically, the article builds on a review of forty empirical studies that measure objective comprehension of process models, seven studies that measure subjective comprehension and user preferences, and thirty-two articles that discuss the factors that influence the comprehension of process models. The article provides...
    (application/pdf; application/pdf) - 24-may-2017

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