Shock persistence in a dual economy model of India

This article examines shock persistence in agricultural and industrial output in India. Drawing on the dual economy literature, the linkages between the sectors through the terms of trade are emphasised. However different dual economy models make differing assumptions regarding the categorisation of variables as being either endogenous or exogenous and this distinction is crucial in explaining the pattern of shock persistence. Using annual data for 1955-95, our results show that shocks to both output series are permanent while those to the terms of trade are transient.

Sustaining linguistic diversity within the global cultural economy: issues of language rights and linguistic possibilities

This paper draws on ethnographic case-study research conducted amongst a group of first and second generation immigrant children in six inner-city schools in London. It focuses on language attitudes and language choice in relation to cultural maintenance, on the one hand, and career aspirations on the other. It seeks to provide insight into some of the experiences and dilemmatic choices encountered and negotiations engaged in by transmigratory groups, how they define cultural capital, and the processes through which new meanings are shaped as part of the process of defining a space within the host society. Underlying this discussion is the assumption that alternative cultural spaces in which multiple identities and possibilities can be articulated already exist in the rich texture of everyday life amongst transmigratory groups. The argument that whilst the acquisition of 'world languages' is a key variable in accumulating cultural capital, the maintenance of linguistic diversity retains potent symbolic power in sustaining cohesive identities is a recurring theme.

Enhancing MB-OFDM throughput with dual circular 32-QAM

Quadrature Phase Shift Keying (QPSK) and Dual Carrier Modulation (DCM) are currently used as the modulation schemes for Multiband Orthogonal Frequency Division Multiplexing (MB-OFDM) in the ECMA-368 defined Ultra-Wideband (UWB) radio platform. ECMA-368 has been chosen as the physical radio platform for many systems including Wireless USB (W-USB), Bluetooth 3.0 and Wireless HDMI; hence ECMA-368 is an important issue to consumer electronics and the users experience of these products. To enable the transport of high-rate USB, ECMA-368 offers up to 480 Mb/s instantaneous bit rate to the Medium Access Control (MAC) layer, but depending on radio channel conditions dropped packets unfortunately result in a lower throughput. This paper presents an alternative high data rate modulation scheme that fits within the configuration of the current standard increasing system throughput by achieving 600 Mb/s (reliable to 3.1 meters) thus maintaining the high rate USB throughput even with a moderate level of dropped packets. The modulation system is termed Dual Circular 32-QAM (DC 32-QAM). The system performance for DC 32-QAM modulation is presented and compared with 16-QAM and DCM1.

Exporting construction professional services in a global service economy

Globalisation has prompted increasing numbers of construction profes-sional services (CPS) firms to internationalise and export their services. The driver has been twofold; firstly to increase turnover/profits and sec-ondly, to minimise the risk of a reliance on working in a single domestic market which has a fluctuating demand. Secondly, where firms have out-grown their domestic market, and in order to expand, they must export overseas. There has been little research into the way CPS firms operate overseas, yet construction represents approximately 10% of global GDP; this means that understanding CPS firms is important. This paper investigates how CPS firms internationalise and the drivers that impact their decisions and operations overseas. A survey was undertaken and interviews conducted that showed CPS firms are project driven, in-vesting heavily in the process of seeking work/bidding for projects, and are very focused on delivering projects with minimum risk. Increasing foreign ownership, changing procurement approaches and more consolidation of CPS firms in the global marketplace present a changing business land-scape. The research develops a framework of tangible and intangible factors, such as competencies, business organisation culture, leadership and reputation in order to better understand how CPS firms export their ser-vices. Whilst all CPS firms share the same framework of factors, the re-sulting synergies are different not only for each firm but also for each pro-ject. The knowledge-intensive and project-based nature of CPS firms presents a challenge in understanding the way they operate in the global service economy.

The small open-economy New Keynesian Phillips Curve: empirical evidence and implied inflation dynamics

In this paper we apply GMM estimation to assess the relevance of domestic versus external determinants of CPI inflation dynamics in a sample of OECD countries typically classified as open economies. The analysis is based on a variant of the small open-economy New Keynesian Phillips Curve derived in Galí and Monacelli (Rev Econ Stud 72:707–734, 2005), where the novel feature is that expectations about fluctuations in the terms of trade enter explicitly. For most countries in our sample the expected relative change in the terms of trade emerges as the more relevant inflation driver than the contemporaneous domestic output gap.

Is housing good for the economy?

Not surprisingly housing researchers and practitioners frequently call for more resources to be devoted to housing. But governments in recent years have devoted fewer resources to housing rather than more. One of the reasons is that housing expenditures have to be seen in terms of the overall resource constraints on the economy and in many instances this requires a macro‐economic perspective. This paper reviews the macro‐economic arguments for and against housing expenditures, particularly through the use of a quantitative policy simulation model.