Assessing the Role of Sentiment in the Propagation of Fiscal Stimulus

This paper studies the dynamic effects of the fiscal policy shock on private activity using an array of vector autoregressive models for the post-war U.S. data. We are particularly interested in the role of consumer sentiment in the transmission of fiscal stimulus. Our major findings are as follows. Private spending fails to rise persistently in response to government spending shocks, while they exhibit persistent and significant increases when the sentiment shock occurs. Employing not only linear but also nonlinear state-dependent VAR model estimations, we show that the government spending shock generates consumer pessimism in all phases of business cycle resulting in subsequent decreases in private activity, which ultimately weakens the effectiveness of the fiscal policy. Our counterfactual simulation exercises confirm the important role of sentiment in propagating fiscal stimulus to private spending.

Confronting Lying in Negotiation

Negotiation is not only the way lawyers determine what one will pay another in a traditional sale of an asset; it is also the method by which the great share of lawsuits are resolved. Because lying is private activity and because it is often richly rewarded, negotiation is a welcoming environment for a liar. This welcome is enhanced by the fact that deception, short of lying, is permissible and, indeed, at the heart of much negotiation. Worse, because the line between permissible deception and impermissible lying about material matters is indistinct, a liar can readily rationalize his behavior as permissible even when an objective person would find otherwise....

PROPORSI RUMAH BERARSITEKTUR CHINA DI TEPIAN SUNGAI MUSI PALEMBANG (The Proportion of Architectural Chinese House on Musi River Palembang)

Since the era of Sriwijaya, Palembang had been accosted and livable by different ethnics from other nations, such as Chinese, Arabia, and Campa. Their presence has coloured the development of architecture in Palembang because of the architectural influences of the native country. The existence of the Chinese architecture houses in Musi river is one of the architectural heritages of the Chinese ethnic that still survive until today. Visually, the shape of the buildings provides equal image proportions indicating that there is a size comparison of the physical elements of the main building in building the houses. It is interesting to find out physical proportions (main frame) of those house buildings. The research used descriptive quantitative method and data were analysed stastistically. Results of the study showed that the proportion (ratio) of the physical elements (main frame) of this building was P: L: T = 9.2:3.4:2.3. The front roof of the building (segment A) has a high proportion but lower than the roofs on segment B and C. This indicates that the spaces on segments B and C have a higher space value as praying room and private activity spot for its residents.

The Proportion of Architectural Chinese House on Musi River Palembang

Since the era of Sriwijaya, Palembang had been accosted and livable by different ethnics from other nations, such as Chinese, Arabia, and Campa. Their presence has coloured the development of architecture in Palembang because of the architectural influences of the native country. The existence of the Chinese architecture houses in Musi river is one of the architectural heritages of the Chinese ethnic that still survive until today. Visually, the shape of the buildings provides equal image proportions indicating that there is a size comparison of the physical elements of the main building in building the houses. It is interesting to find out physical proportions (main frame) of those house buildings. The research used descriptive quantitative method and data were analysed stastistically. Results of the study showed that the proportion (ratio) of the physical elements (main frame) of this building was P: L: T = 9.2:3.4:2.3. The front roof of the building (segment A) has a high proportion but lower than the roofs on segment B and C. This indicates that the spaces on segments B and C have a higher space value as praying room and private activity spot for its residents.

PROPORSI RUMAH BERARSITEKTUR CHINA DI TEPIAN SUNGAI MUSI PALEMBANG (The Proportion of Architectural Chinese House on Musi River Palembang)

Since the era of Sriwijaya, Palembang had been accosted and livable by different ethnics from other nations, such as Chinese, Arabia, and Campa. Their presence has coloured the development of architecture in Palembang because of the architectural influences of the native country. The existence of the Chinese architecture houses in Musi river is one of the architectural heritages of the Chinese ethnic that still survive until today. Visually, the shape of the buildings provides equal image proportions indicating that there is a size comparison of the physical elements of the main building in building the houses. It is interesting to find out physical proportions (main frame) of those house buildings. The research used descriptive quantitative method and data were analysed stastistically. Results of the study showed that the proportion (ratio) of the physical elements (main frame) of this building was P: L: T = 9.2:3.4:2.3. The front roof of the building (segment A) has a high proportion but lower than the roofs on segment B and C. This indicates that the spaces on segments B and C have a higher space value as praying room and private activity spot for its residents.

Further Chinese stimulus will target private activity

Headline CHINA: Further stimulus will target private activity

Embroidery of liturgical vestments in Lithuania in the 19th–20th centuries: styles and ornaments

The article presents embroidered liturgical vestments in Lithuania from the second half of the 19th c. to the first half of the 20th c. Investigations of survived embroidered vestments present the history of the decor of liturgical textile, typical embroidered techniques and motifs. Connections of these Lithuanian phenomena with processes of the European art of embroidery are discussed. Embroidery from the second half of the 19th c. to the first half of the 20th c. has specific features that are related to the changes of embroidery techniques and artistic style. In addition, these features are related to the accents of iconography and changes in dissemination (circulation, reproduction, workshop and private activity). The article presents similarities of ornaments from needlework books. Embroidery patterns of the investigated liturgical textile presented in the article are similar to those in the books of ornaments. Embroidery patterns reached Lithuania in special periodicals (magazines for women). Ornaments of Biedermeier style in the embroidered liturgical vestments adapted of local craftsmen spread quickly. Berlin wool work ornaments were very popular because they were easily accomplished using cross-stitch embroidery. In the period of Historicism, the decoration of liturgical textiles was accomplished using neo-stylistic motifs. The beginning of mass production and the creation of ecclesiastical workshops led to the rapid development of such stylistics in churches, and as a result, liturgical vestments in Lithuania were similar to those in the western countries.

China’s stimulus spree may crowd out private activity

Headline CHINA: Stimulus spree may crowd out private activity