Trade credit linkages along the supply chain: evidence for the Italian textile sector

We examine the trade credit linkages among firms within a supply chain to reckon the effect of such linkages on the propagation of liquidity shocks from downstream to upstream firms. We choose a sample appropriate for this task, consisting of a large data set of Italian firms from the textile industry, a well known example of a comprehensive manufacturing cluster featuring a large number of small and specialized firms at each level of the supply chain. The results of the analysis indicate that the level of trade credit that firms provide to their suppliers is positively related to the level of trade credit granted to their clients: when the level of trade credit granted to clients divided by sales goes up by 1, the level of trade credit provided to suppliers divided by cost-of goods-sold goes up by an amount that varies between 0,22 and 0,52. Since all firms along the chain are linked by trade credit relationships, an increase in the level of trade credit granted by wholesalers generates a liquidity cascade throughout the chain. We designate the overall increase in the level of trade credit among all firms in the chain as a result of a unitary impulse in the level of trade credit granted by wholesalers as the multiplier effect of trade credit for the industry chain. We estimate such multiplier to vary between 1.28 and 2.04. We also investigate the effect of final demand on the level of trade credit sourced by firms at various levels of the chain and, in particular, whether such effect is amplified for firms further up in the chain as a result of liquidity propagation via trade credit linkages. We uncover evidence of such amplification when the links of liquidity transmission along the chain are individually modeled and estimated. An unitary increase in wholesalers’ sales is found to produce an effect on trade payables among firms at the top of the chain (i.e., Preparers and Spinners) that is more than twice as big as the corresponding effect among firms at the bottom of the chain (i.e., Wholesalers).

[Book reviews] Review of J. E. Hoch, Semitic Words in Egyptian Texts of the New Kingdom and Third Intermediate Period and D. Sivan and Z. Cochavi-Rainey, West Semitic Vocabulary in Egyptian Script of the 14th to the 10th Centuries BCE

Reviews of: [1] James E. Hoch, Semitic Words in Egyptian Texts of the New Kingdom and Third Intermediate Period, (1994), Princeton University Press. [2] Daniel Sivan and Zipora Cochavi-Rainey, West Semitic Vocabulary in Egyptian Script of the 14th to the 10th Centuries BCE, (1992), Ben-Gurion University of the Negev Press.

The 2001 World Trade Centre evacuation

The WTC evacuation of 11 September 2001 provides an unrepeatable opportunity to probe into and understand the very nature of evacuation dynamics and with this improved understanding, contribute to the design of safer, more evacuation efficient, yet highly functional, high rise buildings. Following 9/11 the Fire Safety Engineering Group (FSEG) of the University of Greenwich embarked on a study of survivor experiences from the WTC Twin Towers evacuation. The experiences were collected from published accounts appearing in the print and electronic mass media and are stored in a relational data base specifically developed for this purpose. Using these accounts and other available sources of information FSEG also undertook a series of numerical simulations of the WTC North Tower. This paper represents an overview of the results from both studies.

Analysis of the structural characteristics of an intermediate rail vehicle and their effect on vehicle crash performance

In the current paper, the authors present an analysis of the structural characteristics of an intermediate rail vehicle and their effects on crash performance of the vehicle. Theirs is a simulation based analysis involving four stages. First, the crashworthiness of the vehicle is assessed by simulating an impact of the vehicle with a rigid wall. Second, the structural characteristics of the vehicle are analysed based on the structural behaviour during this impact and then the structure is modified. Third, the modified vehicle is tested again in the same impact scenario with a rigid wall. Finally, the modified vehicle is subjected to a modelled head-on impact which mirrors the real-life impact interface between two intermediate vehicles in a train impact. The emphasis of the current study is on the structural characteristics of the intermediate vehicle and the differences compared to an impact of a leading vehicle. The study shows that, similar to a leading vehicle, bending, or jackknifing is a main form of failure in this conventionally designed intermediate vehicle. It has also been found that the location of the door openings creates a major difference in the behaviour of an intermediate vehicle. It causes instability of the vehicle in the door area and leads to high stresses at the joint of the end beam with the solebar and shear stresses at the joint of the inner pillar with the cantrail. Apart from this, the shapes of the vehicle ends and impact interfaces are also different and have an effect on the crash performance of the vehicles. The simulation results allow the identification of the structural characteristics and show the effectiveness of relevant modifications. The conclusions have general relevance for the crashworthiness of rail vehicle design

Approximating the evacuation of the World Trade Center North Tower using computer simulation

This article concerns an investigation of the full scale evacuation of a building with a configuration similar to that of the World Trade Center (WTC) North Tower using computer simulation. A range of evacuation scenarios is explored in order to better understand the evacuation of the WTC on 11 September 2001. The analysis makes use of response time data derived from a study of published WTC survivor accounts. Geometric details of the building are obtained from architects' plans while the total building population used in the scenarios is based on estimates produced by the National Institute of Standards and Technology formal investigation into the evacuation. This paper attempts to approximate the events of 11 September 2001 and pursue several `what if' questions concerning the evacuation. In particular, the study explores the likely outcome had a single staircase survived intact from top to bottom. More generally, this paper explores issues associated with the practical limits of building size that can be expected to be efficiently evacuated using stairs alone.

Trade unions, civil society organisations and health reforms

This article provides an analysis of resistance to neoliberalism and commodification in the public healthcare sector as seen from a trade union perspective. It uses recent research on social-movement unionism and new labour internationalism to structure a series of case studies examining resistance to different dimensions of healthcare commodification in four countries. The range of alliances trade unions are making do not fit tidily into one model, but give insights into the movement elements of trade unionism. This dimension must be strengthened, but can also be in tension with collective bargaining and other institutional processes. How to constantly reconcile these different positions is the future challenge facing trade unions.

Developing global trade union "space"

International unions and international solidarity strategies have been changing partly as a response to changes in the global economy. Global union federations have played an important role in expanding communication and developing alliances with other social movements. One of the issues facing trade unions wanting to be effective at an international level is to what extent national concerns can inform and even be transcended by international perspectives. Proposals for studying the global labor force "horizontally", that is, according to different categories and forms of work rather than on a nation-by-nation basis, demonstrates a recognition of global- national dimensions (Harrod and O'Brien 2002:49). This paper will discuss the development of a global trade union "space", which enables national and global unions to work together effectively, using a series of case studies drawn from the experience of global and European public service unions.