Monetary Fundamentals and Exchange Rate Dynamics under Different Nominal Regimes

We investigate the dynamic relationship between the U.S. dollar exchange rate and its fundamentals across different exchange rate regimes using data from the late 1800s or early 1900s for six countries. For these countries there is evidence of a long-run relation between the exchange rate and monetary fundamentals consistent with conventional exchange rate theories. Employing a multivariate regime-switching framework, we find that the relative importance of exchange rates and fundamentals in restoring the long-run equilibrium implied by the exchange rate–monetary fundamentals model varies significantly over time and is affected by the exchange rate regime in operation. (JEL F31 )     

Children in Need in the South of Italy: Features and Distortions in the Deinstitutionalisation of Care

Despite the shift in emphasis from institutional to foster family care, in the south of Italy children in need are mainly looked after by residential services. These are required to provide family‐style care and to place children on a short‐term basis. Using data from research on a 100% sample of day units, residential services and children in care in the Calabria region, this article investigates the functioning of the system of care for vulnerable children at the sub‐national level, describes looked‐after children’s characteristics and life conditions and questions the extent to which a real deinstitutionalisation process has occurred in this area. Finally, some deinstitutionalisation recommendations are given.     

Who should plan technological innovation?

Over the last 10 years there has been a growing need to improve integration between business planning and R & D activities. One reason for this has been a decrease in the returns on R & D investments. An understanding of the relationship between demand and technological innovation is needed to achieve this integration. The planning approach will be very different depending on whether the company's business is based on ‘technology-push’ or ‘demand-pull’, and whether planning is controlled by the R & D or the marketing function.     

Europe and Security in the Caucasus

The Caucasus has become, as a long-lasting seismic wave, a framework of enormous and underestimated relevance and uncertainty. But even so, we have not to become prisoner of a short-term “cage”. There is neither strategy nor policy, diplomacy, or war that can exist without four fundamental intellectual preconditions: historical knowledge, security knowledge, ethnic-cultural-religious knowledge, and knowledge of the geopolitical, economic, and international order. These have been recalled by some crucial comments taken from a revisited version of Homer’s Iliad, recently published by the Italian writer Alessandro Baricco, to better focus the concepts. “Men have always flung themselves headlong into battle, like moths attracted towards a fatal flame. There is no fear or self-disgust which has managed to keep them away from that flame” – he wrote – “because it is within that flame that they have always found the only way of emerging from the shadows of life. For this reason, I believe that no one will stop searching for an alternative beauty to that represented by the war path or stop looking for a reason to about face. Sooner or later we will succeed in calling Achilles away from this fateful war. Neither fear nor horror will bring him home. It will be some other completely different beauty, more dazzling than his own and infinitely more humble”. We are, in fact, aware of examples of very poor governance skills at a global level as regards the management of medium-and long-term international order options. And the Caucasus is really a case study. For these many reasons Europe cannot avoid an effective “neighbourhood policy” with the Caucasian countries. In 2003, the European Union appointed a Special Representative for the region. Armenia, Azerbaijan, and Georgia all have Partnership and Cooperation Agreements in force with the EU. Actions plans will be soon implemented and Europe represents by and large the preferred and more reliable interlocutor for the Caucasian region.     

The strategic management of R & D. Part II—Organizing for integration

The possibility of the R & D activity integrating with the ‘physiology’ of the industrial enterprise depends on the model management adopts for structures, roles and human resources. Such a model should allow integration between R & D and the enterprise and encourage innovation. Two main roads lead to the attainment of the integration process. The author outlines them by observing the experience of research laboratories in the United States and in Europe. The two roads are the ‘managerial integration’ model and the ‘technological integration’ model, analytically described in the article.     

Can we declare military Keynesianism dead?

This paper empirically tests the Keynesian hypothesis that government defence spending positively impacts on aggregate output, by using a long-run equilibrium model for the US and the UK.Our contribution, with respect to previous works, is twofold. First, our inferences are adjusted for structural breaks exhibited by the data concerning fiscal and monetary variables. Second, we take into account different dynamics between defence spending on aggregate output, showing that the results are sensitive to sub-sample choices. Though the estimated elasticities in both countries show a lack of significance in the more recent years of the sample, defence-spending priorities addressed to international security may revitalize pro-cyclical effects in the UK, by an industrial policy of defence shared with the EU members.     

Grandparents in the blues. The effect of childcare on grandparents’ depression

Review of Economics of the Household - We estimate the effect of grandchild care on the depression of grandmothers and grandfathers, using data from the Survey on Health, Ageing and Retirement in...     

"It ain't all as bad as it may seem": young Black lesbians' responses to sexual prejudice

This article explores the ways in which young, Black lesbians manage their sexual minority identity when experiencing sexual prejudice. Fourteen Black lesbians between the ages of 16 and 24 participated in semistructured interviews. Instances of sexual prejudice and the young women's responses were thematically analyzed using open and axial qualitative coding techniques. Results indicated that participants experienced sexual prejudice frequently and even within the lesbian community. Responses to sexual prejudice included: cognitive reframing of heterosexist messages, passing, gaining support from self-created gay families, and fighting back (physically and verbally) in the event of isolated instances of sexual prejudice. Analysis focuses on how gender identity relates to experiences of sexual prejudice and identity management strategies. Findings suggest that there are parallels between the management strategies of these women and young, Black gay and bisexual males and between these women and Black women who are coping with sexism and racism.     

Labeling albinism: language and discourse surrounding people with albinism in Tanzania

This article is based on a qualitative study that set out to analyze the labels and terms attached to 28 people affected by albinism in villages in Kilolo district, Tanzania. Even though national and international attention to killings of people with albinism has attempted to improve general knowledge of albinism and reduce discrimination, most of the community members within the study had little knowledge of the (bio)medical explanations for albinism and tended to marginalize people with albinism. Framed within a wider moral discourse on illness, disability and socially appropriate behavior, albinism is mostly considered to be God’s will or the consequence of past misdeeds within the family, and many of the existing labels for people with albinism express such ideas.