An ecological view of New Developmentalism: a proposal of integration

ABSTRACT Article aims to integrate New Developmentalism with Ecological View by means of the concepts of Ecological Structural Change (ESC) and Eco-Developmental Class-Coalition (EDCC). ESC means to increase the share of green manufacturing sector in GDP and employment for increasing the environmental efficiency of the economy. Exchange rate overvaluation caused by Dutch disease and growth with foreign savings can harm green manufacturing industries even more than brown manufacturing industries. ESC needs the existence of an EDCC that can be made difficult to occur if exchange rate over-valuation is not removed through taxes over commodities exports, capital controls and a dual mandate for the Central Bank.

4. The Council of the European Union:

The Council is an institution of day-to-day policymaking in which the interests of member state governments are represented by cabinet ministers who meet, according to their policy portfolio, in different Council configurations and within the Eurogroup. According to the Treaty of Lisbon, the Council has a dual mandate. It acts as a legislative organ as well as an executive and policy-coordinating institution. This dual role is reflected in the organization and meeting practices of the different Council configurations. Those groupings of ministers dealing primarily with executive decisions and policy coordination tend to meet more often and are regarded as being more senior than those formations of the Council which engage predominantly in legislative decision-making. As a legislative institution, the Council has increasingly acquired features of an upper chamber in a bicameral separation of powers system, working in tandem with the European Parliament. In contrast, Council decision-making relating to executive issues and policy coordination in important policy domains, such as economic governance and foreign policy, is closely aligned with the European Council. In these areas, the Council can be considered to constitute, together with the Commission, a collective EU executive.

Financial shocks and inflation dynamics

We assess the effects of financial shocks on inflation, and to what extent financial shocks can account for the “missing disinflation” during the Great Recession. We apply a Bayesian vector autoregressive model to US data and identify financial shocks through a combination of narrative and short-run sign restrictions. Our main finding is that contractionary financial shocks temporarily increase inflation. This result withstands a large battery of robustness checks. Negative financial shocks help therefore to explain why inflation did not drop more sharply in the aftermath of the financial crisis. Our analysis suggests that higher borrowing costs after negative financial shocks can account for the modest decrease in inflation after the financial crisis. A policy implication is that financial shocks act as supply-type shocks, moving output and inflation in opposite directions, thereby worsening the trade-off for a central bank with a dual mandate.

Tourists' perceptions of beach quality improvement during the off-peak season: a segmentation approach

Recently coastal tourism has increased rapidly and has negatively affected environmental, social and cultural sustainability. The Algarve is the main sun-and-sea tourism destination in Portugal, with a large number of beautiful beaches. Due to negative tourism impacts and climate change, coastal tourism management tools need to be assessed and implemented. Most beach areas have the dual mandate of conserving coastal natural resources and providing opportunities for recreation and tourism. This paper aims to identify off-peak season beach users' profiles and to segment them according to their priorities for sustainable beach management in the face of climate change and seasonality balance. Four beaches with different types were chosen in the municipality of Albufeira as case studies: an urban, a rural, a resort and a remote beach. A cluster analysis was applied to data collected through a survey applied to 200 tourists through face-to-face interviews. The survey aimed to measure beach visitors' opinion about beach environment and services, as well as about the importance of 25 quality beach attributes. The cluster analyses generated three segments of beach users with the following profiles: comfort and food lovers, young and active environmentalists and sustainable minimalists. The results provide valuable information and insights for both academics and beach managers, who can adjust their management tasks to suit market segments and their preferences, fulfilling emerging environmental policies.

COVID-19 crisis response at the National Library of Israel: Confronting challenges and maximising opportunities

Founded in 1892, the National Library of Israel (NLI) serves as the vibrant institution of national memory for the Jewish people worldwide and Israelis of all backgrounds and faiths. Its four core collections – Israel, Judaica, Islam and Middle East, and the Humanities – tell the historical, cultural and intellectual story of the Jewish people, the State of Israel and the Land of Israel and its region throughout the ages. The NLI’s current transformative renewal aims to encourage diverse audiences in Israel and across the globe to engage with these treasures in meaningful ways through a range of innovative educational, cultural and digital initiatives. The most tangible manifestation of this transformation is the new NLI campus, now under construction adjacent to the Knesset (Israeli Parliament) in Jerusalem, and on schedule to open its doors in 2022. NLI’s renewal and dual mandate requiring it to engage diverse domestic and international audiences, as well as the massive construction project underway, have in many ways magnified the challenges posed by this difficult period, as well as – and perhaps even more so – the opportunities it presents. While the response to these unprecedented and unforeseen circumstances has largely been ad hoc, the NLI approach has been guided by the goal of protecting the health and welfare of its staff and users, and identifying strategic opportunities to not only make the most of the difficulties presented by this complex new reality but also build programs and initiatives to help achieve strategic goals. Following a brief summary of the crisis in Israel, this article presents a number of examples of the physical, logistical and programmatic adaptations NLI has implemented in attempting to maximise potential opportunities in best fulfilling its mission during this time.

Colonial legacies: Shaping African cities

Institutions persisting from colonial rule affect the spatial structure and conditions under which 100s of millions of people live in Sub-saharan African cities. In a sample of 318 cities, Francophone cities have more compact development than Anglophone, overall, in older colonial sections, and at clear extensive margins long after the colonial era. Compactness covers intensity of land use, gridiron road structures and leapfrogging of new developments. Why the difference? Under British indirect and dual mandate rule, colonial and native sections developed without coordination. In contrast, integrated city planning and land allocation were featured in French direct rule. These differences in planning traditions persist.1

Let's close the gap: Revising teaching materials to reflect how the Federal Reserve implements monetary policy

The topic of the Federal Reserve’s (the Fed’s) implementation of monetary policy has a significant presence in economics textbooks as well as standards and guidelines for economics instruction. This presence likely reflects the fact that it is the implementation framework that helps ensure that the Fed’s desired level of its policy interest rate is transmitted to financial markets, which helps it steer the economy toward the Congressional dual mandate of maximum employment and price stability. Over the past decade or so, the Fed has purposefully shifted the way it implements monetary policy to an environment with ample reserves in the banking system, and it has introduced new policy tools along the way. This paper shows that, unfortunately, many teaching resources are not in sync with the Fed’s current framework. We review six, 2020 or 2021 edition, principles of economics textbooks, and we find they vary greatly in their coverage of the concepts associated with the way the Fed implements policy today and in the longer run. We provide recommendations on how the authors can improve the next editions of their textbooks. We also review standards and guidelines used by secondaryschool educators. All of these are out of date, and we provide proposals for how these materials can be updated.