Stress-testing Economic Resilience

Futureproof ◽  
2019 ◽  
pp. 144-168
Author(s):  
Jon Coaffee

This chapter illuminates how the practices underpinning economic and financial resilience have progressed since the early 2000s crash. It draws on a series of vignettes from private- and public-sector organisations. From there, the chapter charts a journey from a conservative approach, which sought continuity and promoted ‘business as usual’ following the crisis, to a situation where complexity is increasingly embraced to cope with an unknown future. Here, while the fundamental aim of incorporating complexity is to be better able to predict the future in order to generate stable conditions in which to better manage risk, there is also a sense that things have changed and that we can never return to the headless days of the early 2000s. The journey of economic resilience reflects the broader evolution of resilience as a universally applied idea.

Author(s):  
Neeti Kasliwal ◽  
Jagriti Singh

Banking sector is growing rapidly and playing a vital role in the economic development of the nation. Both private and public sector banks are giving more priority to service quality to satisfy their customers. For this, banks are now emphasizing on E-CRM practices to carry out transactions and communicate with their customers. The purpose of this research is to assess the service quality among private and public banks in Rajasthan. Purposive sampling technique has been employed to collect the data from three private banks and three banks from public. To analyze the data, descriptive statistics, Mean score method and t test have been used. Results indicates that there is a significant difference in consumer’s perception of service quality dimensions related to E-CRM practices provided by selected private and public sector banks of Rajasthan..The findings of this research will help policy makers of banking sector to set customer oriented policies.


GIS Business ◽  
2017 ◽  
Vol 12 (6) ◽  
pp. 43-53
Author(s):  
Eugenia Schmitt

The need to focus on banks funding structure and stress testing in an explicit way arose as a consequence of the crisis of past decades. Liquidity risks usually occur as a consequence of other kinds of risks, hence analysing scenarios in a prospective manner is essential for the assessment if the bank can fulfill its obligations as they come due and if its funding costs are appropriate. The structural liquidity risk and the degree of the liquidity mismatch can be measured based on the liquidity gap analysis, where expected cash-in- and outflows, divided in different time-buckets are depicted. The liquidity gap report (LGR) shows if a liquidity shortcoming appears in the future and how high is the amount a bank would have to pay, if any hedging were not possible. This paper shows how to build a comprehensive LGR which is the base for both, liquidity and wealth risk evaluation. To improve the accuracy of the forecast, the counterbalancing capacity will be incorporated into the LGR. This tool is a methodological basis for quantitative and qualitative risk assessment and stress testing.


Author(s):  
María- José Foncubierta-Rodriguez ◽  
Rafael Ravina-Ripoll ◽  
Eduardo Ahumada-Tello ◽  
Luis Bayardo Tobar-Pesantez

Since the end of the 20th century, economists have been attracted to the study of the economics of happiness (e.g., Singh, & Alexandrova, 2020; Crespo & Mesurado, 2015; Ferrer-i-Carbonell,2013). The use of the term happiness characterizes an essential volume of this bibliographical production as a synonym for the words satisfaction, well-being, or quality of life (Teixeira&Vasque, 2020; Carlquist et al., 2017). Under this umbrella, the culture of happiness management teaches us that a management model or direction oriented to the holistic search for happiness or job satisfaction of its employees is one of the essential axial pieces that organizations have to increase the commitment of their human capital, and therefore, their productivity and business performance (Ravina et al., 2019). Public administration employees are not exempt from this reality, a group that is characterized by job stability compared to private company employees. This article is dedicated to them. The era of Industry 4.0 is a period that is characterized, among other things, by the high precariousness of labor that is originated by the implementation of management models in advanced economies. This phenomenon is derived from the technological point of view by the automation and massive robotization of production processes and the supply chain. Together with the digitalization of companies, both factors are very present in the ecosystems of the Covid-19, and have come, perhaps, to stay in the future (Bragazzi, 2020; Ghadge et al., 2020). In line with the above, a more holistic examination of this issue seems likely to show that there is a keen interest among people to enter into Work mostly in public administrations, in search of a permanent contract for their entire working life. As is known, this is especially true in countries with high unemployment levels, such as Spain. Its unemployment rate is 20.1% in mid-2020. In the collective imagination of these individuals, there is the conviction that this type of Work constitutes ambrosia of eudaimonic happiness, job security, and quality of life, especially at present, in times of the Covid-19 pandemic (Fernández-Urbano, & Kulic, 2020). In this sense, it should be noted that in the last decades of the 21st century, there has been a growing interest in researching public employees' job satisfaction (e.g., Ryu&Bae, 2020; Steijn &Van der Voet, 2019; Luechinge et al., 2010). Most of the studies carried out on this scientific topic to date show empirically that public sector workers are happier than individuals in the private sphere. It's basically due to the intrinsic benefits (flexibility, vacation, or family reconciliation, among others) that this type of government entity offers concerning for-profit organizations (e.g., Lahat&Ofek, 2020; Sánchez-Sánchez, & Puente, 2020; Danzer,2019). In this context, this article aims to examine, as a priority in the era of Industry 4.0, whether there are observed differences in the levels of congratulations between human capital working in the private sector and that working in the public sector in Spain, by analyzing a set of variables that define positions: hours, salary, stability, promotion, and stress. Finally, we must indicate, on the one hand, that the choice of this spatial framework is motivated by the scarce literature investigating the happiness of Spanish public employees in an economy with high levels of youth unemployment (Núñez-Barriopedro et al., 2020). On the other hand, the results achieved in this study may be useful in the future for the implementation of public policies aimed at significantly promoting the welfare of working citizens through the happiness management approach (Ravina-Ripoll et al., 2019), or for taking this management concept to private companies to increase the motivation of their employees (Foncubierta-Rodríguez & Sánchez-Montero, 2019). Keywords: Happiness, human resources, Industry 4.0, public sector.


2003 ◽  
Vol 3 (1-2) ◽  
pp. 441-447
Author(s):  
J. Davis ◽  
G. Cashin

This paper examines the similarities and differences between public and private ownership of water utilities, including variations such as corporatisation. In any utility where the asset owner and the asset operator are the same, there are pressures to reduce operations and maintenance costs and capital expenditure to maximise returns. The authors argue that this is the case irrespective of whether such returns are to private shareholders or dividends to government. On the other hand, where the asset owner and the asset operator are separate entities with a clearly defined contractual interface, it is not possible to increase returns by reducing operations and maintenance standards, presuming a properly constructed contract. This is because the performance standards are clearly stipulated in the contract with payment reductions applying for non-performance. Such a model can be put in place irrespective of whether the asset owner is a private company or a public utility. The paper examines the profit incentive applying to private and public sector organisations in models where:the asset owner and the asset operator are the same organisation;models where the asset owner and the asset operator are separate organisations, with the service delivery performance governed by a clearly defined contractual interface. The paper shows why the drivers governing the behaviour of public sector and private sector owners are similar, and how the separation of asset owner and asset operator can be used to ensure that service delivery standards are achieved at the lowest cost, whilst providing full transparency to shareholders, regulators and customers alike. The paper also reviews actual comparative data on service quality and performance under a number of ownership and contractual models, and draws conclusions on the effectiveness of the various asset owner/operator models in terms of service delivery performance and costs.


Author(s):  
Robin M. Boylorn

This chapter considers the role, importance, and impact of public intellectualism on the future of qualitative research. The chapter argues that the move toward technology and the public dissemination of information via the internet requires a shift in how and what we research with an expressed intention of reaching a broader and nonacademic audience. The chapter considers the relationship between the private and public sphere, and the so-called “bastardization” of intellectualism to explain the role and rise of public intellectualism in qualitative research. By considering issues such as personal subjectivity, accountability, representation, and epistemological privilege, the chapter discusses how public contexts inform qualitative research and, conversely, how qualitative research can inform the public.


2019 ◽  
Vol 18 (04) ◽  
pp. 529-548 ◽  
Author(s):  
Joseph F. Quinn ◽  
Kevin E. Cahill ◽  
Michael D. Giandrea

AbstractDo the retirement patterns of public-sector workers differ from those in the private sector? The latter typically face a retirement landscape with exposure to market uncertainties through defined-contribution pension plans and private saving. Public-sector workers, in contrast, are often covered by defined-benefit pension plans that encourage retirement at relatively young ages and offer financial security at older ages. We examine how private- and public-sector workers transition from full-time career employment, with a focus on the importance of gradual retirement. To our surprise, we find that the prevalence of continued work after career employment, predominantly on bridge jobs with new employers, is very similar in the two sectors, a result with important implications in a rapidly aging society.


Author(s):  
Erin K. Chiou ◽  
Eric Holder ◽  
Igor Dolgov ◽  
Kaleb McDowell ◽  
Lance Menthe ◽  
...  

Global investments in artificial intelligence (AI) and robotics are on the rise, with the results to impact global economies, security, safety, and human well-being. The most heralded advances in this space are more often about the technologies that are capable of disrupting business-as-usual than they are about innovation that advances or supports a global workforce. The Future of Work at the Human-Technology Frontier is one of NSF’s 10 Big Ideas for research advancement. This panel discussion focuses on the barriers and opportunities for a future of human and AI/robot teaming, with people at the center of complex systems that provide social, ethical, and economic value.


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