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AbstractWhen people can profit financially by lying, they do so to the extent to which they can justify their lies. One type of justification is the observation and production of desirable counterfactual information. Here, we disentangle observing and producing of desired counterfactuals and test whether the mere observation is sufficient or whether one actually needs to produce the information in order to justify lying. By employing a modified version of the Die‐Under‐Cup task, we ask participants to privately roll a die three times and to report the outcome of the first die roll (with higher values corresponding to higher payoffs). In all three conditions, participants produce (roll the die) and observe the first die roll, which is relevant for pay. We manipulate whether participants produce and observe versus only observe the second and third die roll outcomes, which are both irrelevant for pay. Results reveal that people lie to the same extent—when producing and observing the counterfactuals, and when merely observing them. It seems that merely observing counterfactual information is sufficient to allow people to use this information to justify their lies. We further test whether creativity and moral disengagement are associated with dishonesty and replicate the finding showing that unethical behavior increases with creativity. Copyright © 2017 John Wiley & Sons, Ltd.

Background: External/intrusive violence at work can result in psychological distress and can be an important risk to employee health and safety. However, the vast majority of workplace violence studies have employed cross-sectional and correlational research, designed to examine immediate reactions after being assaulted at work. Aims: To explore whether exposure to robbery as a traumatic event may contribute to the onset of typical symptoms of psychological distress (anxiety depression, dysphoria and loss of confidence) and job dissatisfaction over time. Methods: We collected data by using a two-wave panel design, in which employees working the days of bank robberies, in an Italian bank, filled in a questionnaire between 48 h and 1 week after the robbery (T1) and 2 months after the robbery (T2). We performed structural equation models to evaluate the fit of different models to our data. Results: There were 513 participants at T1 (58% women) and 175 (34%) participants at T2 (62% women). There was a simultaneous association in which psychological distress leads to job dissatisfaction both following robbery and 2 months later. Conclusions: Our findings support a synchronous effects model and suggest that interventions after suffering physical assaults, apart from helping employees to recover their health, should consider restoring their trust and confidence in the organization. This study contributes to understanding the dynamic relationships between a robbery at work and its outcomes over time, by addressing several methodological deficiencies in previous longitudinal studies. info:eu-repo/semantics/acceptedVersion

AbstractPhillips curves are central to discussions of inflation dynamics and monetary policy. The hybrid new Keynesian Phillips curve (NKPC) describes how past inflation, expected future inflation, and a measure of real aggregate demand drive the current inflation rate. This paper studies the (potential) weak identification of the NKPC under Generalized Method of Moments and traces this syndrome to a lack of higher‐order dynamics in exogenous variables. We employ analytic methods to understand the economics of the NKPC identification problem in the canonical three‐equation, new Keynesian model. We revisit the empirical evidence for the USA, the UK, and Canada by constructing tests and confidence intervals based on the Anderson and Rubin (1949) statistic, which is robust to weak identification. We also apply the Guggenberger and Smith (2008) LM test to the underlying NKPC pricing parameters. Both tests yield little evidence of forward‐looking inflation dynamics. Copyright © 2008 John Wiley & Sons, Ltd.

We provide a comprehensive study of the liquidity of spot foreign exchange (FX) rates over more than two decades and a large cross-section of currencies. First, we show that FX liquidity can be accurately measured with daily and readily available data. Second, we demonstrate that FX liquidity declines with funding constraints and global risk, supporting theoretical models relating funding and market liquidity. In these distressed circumstances, liquidity tends to evaporate more for developed and riskier currencies. Finally, we show stronger comovements of FX liquidities in distressed markets, especially when funding is constrained, volatility is high, and FX speculators incur losses. We provide a comprehensive study of the liquidity of spot foreign exchange (FX) rates over more than two decades and a large cross-section of currencies. First, we show that FX liquidity can be accurately measured with daily and readily available data. Second, we demonstrate that FX liquidity declines with funding constraints and global risk, supporting theoretical models relating funding and market liquidity. In these distressed circumstances, liquidity tends to evaporate more for developed and riskier currencies. Finally, we show stronger comovements of FX liquidities in distressed markets, especially when funding is constrained, volatility is high, and FX speculators incur losses.

International audience; Cutting conditions determination may help to control design and manufacturing processes. The machining database is important in wood field, that is specific to each tool-machine. So for each kind of wood piece, particular machining conditions are needed to reach a properly surface roughness and a safe work. Couple Tool Material (COM) method is applied like a new methodology in wood working, centered in secondary wood processing industry, defining the working field of cutting tools taking in mind cutting parameters and limiting the number of experiments. Working perspectives are wide with the appearance of new cutting materials and high speed cutting processes, so the needs to compute the betters working conditions in wood cutting will be easier with COM data utilization.

article i nfo Farmers have been increasingly called upon to respond to an ongoing redefinition in consumers' demands, having as a converging theme the search for sustainable production practices. In order to satisfy this objective, instruments for the environmental management of agricultural activities have been sought out. Environmental impact assessment methods are appropriate tools to address the choice of technologies and management practices to minimize negative effects of agricultural development, while maximizing productive efficiency, sound usage of natural resources, conservation of ecological assets and equitable access to wealth generation means. The 'system for weighted environmental impact assessment of rural activities' (APOIA-NovoRural) presented in this paper is organized to provide integrated farm sustainability assessment according to quantitative environmental standards and defined socio-economic benchmarks. The system integrates sixty-two objective indicators in five sustainability dimensions — (i) Landscape ecology, (ii) Environmental quality (atmosphere, water and soil), (iii) Sociocultural values, (iv) Economic values, and (v) Management and administration. Impact indices are expressed in three integration levels: (i) specific indicators, that offer a diagnostic and managerial tool for farmers and rural administrators, by pointing out particular attributes of the rural activities that may be failing to comply with defined environmental performance objectives; (ii) integrated sustainability dimensions, that show decision-makers the major contributions of the rural activities toward local sustainable development, facilitating the definition of control actions and promotion measures; and (iii) aggregated sustainability index, that can be considered a yardstick for eco-certification purposes. Nine fully documented case studies carried out with the APOIA- NovoRural system, focusing on different scales, diverse rural activities/farming systems, and contrasting spatial/territorial contexts, attest to the malleability of the method and its applicability as an integrated farm environmental management tool.

We analyze the welfare multipliers of public spending-the consumption equivalent change in welfare for a one dollar change in public spending-in a DSGE model. The welfare multiplier of public investment depends crucially not only on the productivity (output elasticity) of public capital, as shown by earlier studies, but also on the depreciation rate of public capital and the efficiency of public investment defined as a fraction of public investment spending that translates into the public capital stock. When the key parameter values are set based on the empirical estimates for advanced economies and the output multipliers are consistent with the empirical estimates, the welfare multiplier is positive and sizable. The welfare multiplier is roughly zero when the key parameter values are set to match the features of developing economies. A public infrastructure push in advanced economies makes sense, but developing economies should enhance the efficiency and productivity of public investment. Peer reviewed

Ehrenamtliche Tätigkeit: Versuch einer Quantifizierung und einer Bewertung Bei der Messung der wirtschaftlichen Ressource, die die ehrenamtliche Tätigkeit innerhalb einer Einrichtung, in der Regel eines Verbandes darstellt, müsste die Perspektive der Erstellung eines Satellitenkontos der gemeinnützigen Einrichtungen als Anreiz dienen. Hierbei handelt es sich allerdings um ein heikles Vorhaben, das aufgrund seiner inhärenten Unsicherheiten eher anhand von Umfragen bei Einrichtungen, die ehrenamtliche Mitarbeiter beschäftigen, wie auch bei den Individuen selbst durchgeführt werden müsste. Die erste Etappe besteht in der Quantifizierung der ehrenamtlichen Tätigkeit gemäß einer Zeiteinheit. Die Auswertung der Erhebung Vereinswesen, die das INSEE im Oktober 2002 bei Haushalten vornahm, ermöglicht so eine Schätzung dieser Ressource für Kontinentalfrankreich auf 820 000 «Vollzeitäquivalente der Erwerbstätigkeit». Allein auf die Bereiche Sport, Freizeit und Kultur entfällt fast die Hälfte davon. Die monetäre Bewertung der für eine ehrenamtliche Tätigkeit gewidmeten Zeit stößt bei zahlreichen Ökonomen, aber auch bei den Verbandsakteuren auf Vorbehalte. Auch ist diese Bewertung mit mehreren Schwierigkeiten verbunden, sowohl theoretischer als auch empirischer Art. Deshalb müssen die in diesem Artikel anhand der Erhebung Vereinswesen vorgenommenen Schätzungen nach der Methode der Ersatzkosten mit Umsicht interpretiert werden. Allerdings lassen sie den Schluss zu, dass ein monetärer Wert, der auf diese Weise für die ehrenamtliche Tätigkeit errechnet wird, innerhalb einer Bandbreite von 12 bis 17 Milliarden Euro liegen könnte, das sind zwischen 0,75 % und etwas mehr als 1 % des BIP, je nach den Varianten der gewählten Methode. El trabajo benévolo: un intento de cuantificación y de valorización La medición del recurso económico que constituye el trabajo benévolo realizado en el marco de un organismo, muy a menudo una asociación, es una tarea que debería estar estimulada por la perspectiva de la elaboración de una cuenta satélite de los entes sin fines de lucro. Es sin embargo una operación difícil que, debido a unas cuantas incertidumbres que son propias de esta, merece ser llevada a cabo a partir de unas encuestas realizadas tanto acerca de los organismos de acogida de los benévolos como acerca de los propios individuos. Su primera etapa consiste en cuantificar el trabajo benévolo según una unidad de tiempo. La explotación de la encuesta Vida asociativa, llevada a cabo entre los hogares por el Insee en octubre de 2002, nos lleva a valorar este recurso en unos 820 000 empleos «equivalentes tiempo completo» para la Francia metropolitana. Los ámbitos del deporte, del ocio, y de la cultura se benefician de casi la mitad de esa aportación. La valorización monetaria de ese tiempo dado es un ejercicio que se choca con las reticencias de numerosos economistas, y también con las de los mismos actores asociativos. Esta valorización se confronta igualmente a varias dificultades, de tipo tanto teórico como empírico. Las estimaciones registradas aquí a partir de la encuesta Vida asociativa, basadas en el método de los costes de reemplazo, deben por supuesto valorarse con prudencia. Estas sugieren, sin embargo, que un valor monetario imputado de este modo al trabajo benévolo podría situarse en unos 12 a 17 miles de millones de euros, o sea entre el 0,75 % y un poco más del 1 % del PIB, según las variantes del método escogido. Le travail bénévole: un essai de quantification et de valorisation La mesure de la ressource économique que constitue le travail bénévole réalisé dans le cadre d’un organisme, le plus souvent une association, est un exercice qui devrait être stimulé par la perspective de la construction d’un compte satellite des institutions sans but lucratif. Il s’agit toutefois d’une opération délicate qui, du fait des incertitudes qui lui sont inhérentes, gagne à être menée à partir d’enquêtes réalisées aussi bien en direction des organismes d’accueil des bénévoles qu’auprès des individus eux-mêmes. Sa première étape consiste à quantifier le bénévolat à l’aune d’une unité de temps. L’exploitation de l’enquête Vie associative, réalisée auprès des ménages par l’Insee en octobre 2002, conduit ainsi à estimer cette ressource à 820 000 emplois «équivalents temps plein» pour la France métropolitaine. Les domaines du sport, des loisirs et de la culture bénéficient, à eux seuls, de près de la moitié de cet apport. La valorisation monétaire de ce temps donné est un exercice qui rencontre les réticences de nombreux économistes, mais aussi celles des acteurs associatifs eux-mêmes. Cette valorisation est confrontée également à plusieurs difficultés, d’ordre aussi bien théorique qu’empirique. Les estimations obtenues ici à partir de l’enquête Vie associative, sur la base de la méthode des coûts de remplacement, doivent donc être appréhendées avec prudence. Elles suggèrent, cependant, qu’une valeur monétaire imputée de cette façon au bénévolat pourrait se situer dans une fourchette de 12 à 17 milliards d’euros, soit de 0,75 % à un peu plus de 1 % du PIB, selon les variantes de la méthode retenue. An Attempt at a Quantification and Valuation of Voluntary Work The measurement of the economic resource of voluntary work for an organisation, generally an association, should be encouraged by the prospect of building a satellite account of non-profit institutions. It is nevertheless a tricky operation which, due to its inherent uncertainties, gains from being based on surveys of the bodies for which volunteers work and the individuals themselves. The first step is to quantify voluntary work with a unit of time. Use of INSEE’s October 2002 Vie Associative (Civil Society) survey of households provides an estimate of this resource at 820,000 •full-time equivalent” jobs in mainland France. Sport, leisure and culture alone account for nearly half of these. Many economists, and also civil society players themselves, are reluctant about putting a monetary value to this given time. Such a valuation also faces many theoretical and empirical problems. The estimates obtained based on the Vie Associative survey and using the replacement costs method should therefore be viewed with care. However, they do suggest that a monetary value imputed in this way for voluntary work could be situated at around the •12 to •17 billion mark, or 0.75% to just over 1% of GDP, depending on the variants of the method used. Prouteau Lionel, Wolff François-Charles. Le travail bénévole : un essai de quantification et de valorisation. In: Economie et statistique, n°373, 2004. pp. 33-56.