scholarly journals Optimal Talent Management of the Acquisition Workforce in Response to COVID-19: Dynamic Programming Approach

2022 ◽  
Vol 29 (99) ◽  
pp. 50-77
Author(s):  
Tom Ahn ◽  
Amilcar Menichini
Keyword(s):  
Dynamic Programming ◽  
Labor Market ◽  
The State ◽  
Retention Rates ◽  
Programming Approach ◽  
High Quality ◽  
Dynamic Programming Approach ◽  
Long Run ◽  
Short Run ◽  
The Impact

As the economic impact of the COVID-19 pandemic lingers, with the speed of recovery still uncertain, the state of the civilian labor market will impact the public sector. Specifically, the relatively stable and insulated jobs in the Department of Defense (DoD) are expected to be perceived as more attractive for the near future. This implies changes in DoD worker quit behavior that present both a challenge and an opportunity for the DoD leadership in retaining high-quality, experienced talent. The authors use a unique panel dataset of DoD civilian acquisition workers and a dynamic programming approach to simulate the impact of the pandemic on employee retention rates under a variety of recovery scenarios. Their findings posit that workers will choose not to leave the DoD while the civilian sector suffers from the impact of the pandemic. This allows leadership to more easily retain experienced workers. However, once the civilian sector has recovered enough, these same workers quit at an accelerated rate, making gains in talent only temporary. These results imply that while the DoD can take short-run advantage of negative shocks to the civilian sector to retain and attract high-quality employees, long-run retention will be achieved through more fundamental reforms to personnel policy that make DoD jobs more attractive, no matter the state of the civilian labor market.

scholarly journals Enterprise Resilience Assessment—A Quantitative Approach

2019 ◽  
Vol 11 (16) ◽  
pp. 4327 ◽  
Author(s):  
Raquel Sanchis ◽  
Raúl Poler
Keyword(s):  
Dynamic Programming ◽  
Annual Cost ◽  
Quantitative Approach ◽  
Programming Approach ◽  
Dynamic Programming Approach ◽  
Preventive Actions ◽  
The Impact ◽  
Resilience Capacity ◽  
Resilience Assessment

Enterprise resilience is a key capacity to guarantee enterprises’ long-term continuity. This paper proposes a quantitative approach to enhance enterprise resilience by selecting optimal preventive actions to be activated to cushion the impact of disruptive events and to improve preparedness capability, one of the pillars of the enterprise resilience capacity. The proposed algorithms combine the dynamic programming approach with attenuation formulas to model real improvements when a combined set of preventive actions is activated for the same disruptive event. A numerical example is presented that shows remarkable reductions in the expected annual cost due to potential disruptive events.

The long run impact of immigration on labor market in an advanced economy

2015 ◽  
Vol 42 (4) ◽  
pp. 356-367
Author(s):  
Faridul Islam ◽  
Saleheen Khan
Keyword(s):  
Labor Market ◽  
Gdp Per Capita ◽  
Advanced Economy ◽  
Content Type ◽  
Dynamic Relationship ◽  
Long Run ◽  
The Usa ◽  
Short Run ◽  
Per Capita ◽  
The Impact

Purpose – The purpose of this paper is to examine the dynamic relationship among immigration rate, GDP per capita, and and real wage rates in the USA. Design/methodology/approach – The paper implements the Johansen-Juselius (1990, 1992) cointegration technique to test for a long-run relationship; and for short-run dynamics the authors apply Granger causality tests under the vector error-correction model. Findings – The results show that the long-run causality runs from GDP per capita to immigration, not vice versa. Growing economy attracts immigrants. The authors also find that immigration flow depresses average weekly earnings of the natives in the long-run. Originality/value – The authors are not aware of any study on the USA addressing the impact of immigrants on labor market using a tripartite approach by explicitly incorporating economic growth. It is therefore important to pursue a theoretically justified empirical model in search of a relation to resolve on apparent immigration debate.

On the dynamic programming approach to Pontriagin's maximum principle

1968 ◽  
Vol 5 (3) ◽  
pp. 679-692 ◽  
Author(s):  
Richard Morton
Keyword(s):  
Dynamic Programming ◽  
Maximum Principle ◽  
The State ◽  
Dynamic Programming Principle ◽  
Programming Approach ◽  
Bellman Function ◽  
State Variables ◽  
Dynamic Programming Approach ◽  
Minimum Value ◽  
Image Position

Suppose that the state variables x = (x1,…,xn)′ where the dot refers to derivatives with respect to time t, and u ∊ U is a vector of controls. The object is to transfer x to x1 by choosing the controls so that the functional takes on its minimum value J(x) called the Bellman function (although we shall define it in a different way). The Dynamic Programming Principle leads to the maximisation with respect to u of and equality is obtained upon maximisation.

On the dynamic programming approach to Pontriagin's maximum principle

1968 ◽  
Vol 5 (03) ◽  
pp. 679-692
Author(s):  
Richard Morton
Keyword(s):  
Dynamic Programming ◽  
Maximum Principle ◽  
The State ◽  
Dynamic Programming Principle ◽  
Programming Approach ◽  
Bellman Function ◽  
State Variables ◽  
Dynamic Programming Approach ◽  
Minimum Value ◽  
Image Position

Suppose that the state variables x = (x 1,…,x n )′ where the dot refers to derivatives with respect to time t, and u ∊ U is a vector of controls. The object is to transfer x to x 1 by choosing the controls so that the functional takes on its minimum value J(x) called the Bellman function (although we shall define it in a different way). The Dynamic Programming Principle leads to the maximisation with respect to u of and equality is obtained upon maximisation.

scholarly journals Fragility of State in Central African Republic: An Econometric Approach to Efficiency Understanding

2018 ◽  
Vol 21 (3) ◽  
pp. 681-697
Author(s):  
Yapatake Kossele Thales Pacific
Keyword(s):  
Central African Republic ◽  
Negative Impact ◽  
Positive Impact ◽  
The State ◽  
Policy Implications ◽  
Long Run ◽  
Short Run ◽  
High Level ◽  
The Impact ◽  
Control Of Corruption

A fragile state contributes to the underdevelopment of the nation and its consequences can be very devastating on the state’s cohesion, characterized by a high level of corruption which led the country to an incessant political instability and the continuous presence of foreign troops. 1 This article used the vector autoregresssion (VAR) model covering the period of 2005–2015 to examine the impact of control of corruption on the fragility of the state in the Central African Republic (CAR). The results show that control of corruption is significant and has a negative impact on the fragility of the state in the short run. The impulse response shows a negative impact of control of corruption in the short run but a positive impact in the long run on the fragility of the state. The policy implications of this fragility are that the CAR must pursue better governance as well as in the investment choices. Unless the CAR leaders and citizens recognize their own fragility, things can only get worse.

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