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Labour Market Reform and the Effectiveness of Monetary Policy in EMU
( Andrew Hughes Hallett ),( Nicola Viegi ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2003 Journal of Economic Integration Vol.18 No.4
This paper analyses the interaction between a common monetary policy and differentiated labour market institutions. We develop a model of a two country monetary union. In each country, labour markets are distinguished by the degree of centralisation in wage bargaining. In each country the government can also use an instrument (general taxation or payroll taxes) to influence their overall labour costs. Finally a common monetary policy is followed in a "conservative" manner, as defined by Rogoff (1985). The results show structural and preference asymmetries matter, both in the determination of economic policy and in performance. In particular, centralised labour market institutions confer a certain comparative advantage in policy making which provides a natural incentive for the less flexible (or less reformed) to want to join a currency union; and also for the more flexible to stay outside. This lowers the incentives for reform inside the union, as Calmfors and others have conjectured.
Global Imbalances in a World of Inflexible Real Exchange Rates and Capital Controls
ANDREW HUGHES HALLETT,JUAN CARLOS MARTINEZ OLIVA 연세대학교 동서문제연구원 2012 Global economic review Vol.41 No.4
This paper addresses the issue of international payments in a stock-flow framework, by capturing the interaction between the current account balance and international assets portfolios of domestic and foreign investors. It is argued that the stability of such interactions may be affected by shifts in the preferences of investors, by the relative rate of return of different assets and -more generally- by institutional settings. The model is then used for policy analysis purposes in order to derive the conditions for the existence of dynamic equilibria, and if they can be attained, under the assumption of various market-distorting policy choices.
Fifty Years of Innovation in Plastic Surgery
Kwasnicki, Richard M,Hughes-Hallett, Archie,Marcus, Hani J,Yang, Guang-Zhong,Darzi, Ara,Hettiaratchy, Shehan Korean Society of Plastic and Reconstructive Surge 2016 Archives of Plastic Surgery Vol.43 No.2
Background Innovation has molded the current landscape of plastic surgery. However, documentation of this process only exists scattered throughout the literature as individual articles. The few attempts made to profile innovation in plastic surgery have been narrative, and therefore qualitative and inherently biased. Through the implementation of a novel innovation metric, this work aims to identify and characterise the most prevalent innovations in plastic surgery over the last 50 years. Methods Patents and publications related to plastic surgery (1960 to 2010) were retrieved from patent and MEDLINE databases, respectively. The most active patent codes were identified and grouped into technology areas, which were subsequently plotted graphically against publication data. Expert-derived technologies outside of the top performing patents areas were additionally explored. Results Between 1960 and 2010, 4,651 patents and 43,118 publications related to plastic surgery were identified. The most active patent codes were grouped under reconstructive prostheses, implants, instruments, non-invasive techniques, and tissue engineering. Of these areas and other expert-derived technologies, those currently undergoing growth include surgical instruments, implants, non-invasive practices, transplantation and breast surgery. Innovations related to microvascular surgery, liposuction, tissue engineering, lasers and prostheses have all plateaued. Conclusions The application of a novel metric for evaluating innovation quantitatively outlines the natural history of technologies fundamental to the evolution of plastic surgery. Analysis of current innovation trends provides some insight into which technology domains are the most active.
Fifty Years of Innovation in Plastic Surgery
Richard M Kwasnicki,Archie Hughes-Hallett,Hani J Marcus,Guang-Zhong Yang,Ara Darzi,Shehan Hettiaratchy 대한성형외과학회 2016 Archives of Plastic Surgery Vol.43 No.2
Background Innovation has molded the current landscape of plastic surgery. However, documentation of this process only exists scattered throughout the literature as individual articles. The few attempts made to profile innovation in plastic surgery have been narrative, and therefore qualitative and inherently biased. Through the implementation of a novel innovation metric, this work aims to identify and characterise the most prevalent innovations in plastic surgery over the last 50 years. Methods Patents and publications related to plastic surgery (1960 to 2010) were retrieved from patent and MEDLINE databases, respectively. The most active patent codes were identified and grouped into technology areas, which were subsequently plotted graphically against publication data. Expert-derived technologies outside of the top performing patents areas were additionally explored. Results Between 1960 and 2010, 4,651 patents and 43,118 publications related to plastic surgery were identified. The most active patent codes were grouped under reconstructive prostheses, implants, instruments, non-invasive techniques, and tissue engineering. Of these areas and other expert-derived technologies, those currently undergoing growth include surgical instruments, implants, non-invasive practices, transplantation and breast surgery. Innovations related to microvascular surgery, liposuction, tissue engineering, lasers and prostheses have all plateaued. Conclusions The application of a novel metric for evaluating innovation quantitatively outlines the natural history of technologies fundamental to the evolution of plastic surgery. Analysis of current innovation trends provides some insight into which technology domains are the most active.