Against the backdrop of the rise of global value chains (GVCs), particularly in Asia, this paper documents key developments of GVCs and investigates what factors cause economies to reap greater benefits from GVC participation. Key findings include: first, moving toward a more upstream position...

Macroeconomics must take radical uncertainty into account, if it aims at contributing to the solution of serious real-world problems such as climate change. Allowing for radical uncertainty must happen at two levels: the level of modeling and the level of the scientific discipline. I argue that...

In a bold and risky political move the Greek prime minister Alexis Tsipras called for a referendum on June 27 2015 quitting ongoing negotiations with Greece's creditors in Brussels. The referendum framed as a yes or no question asked the Greek voters to decide whether or not they approve or...

On February 20 2015 Irish Premier Enda Kenny confirmed that a "yes-no" referendum on same sex marriage would be held on May 22 of the same year. A yes vote would legalise same sex marriage in Ireland. As the Irish premier put it, the vote was about "tolerance, respect and sensitivity". The...

Purpose: Research that focuses on the emotional, mental, behavioral and cognitive capabilities of individuals has been abundant within disciplines such as psychology, sociology, and anthropology, among others. However, when facing complex problems, a new perspective to understand individuals is...

Purpose: Service-oriented manufacturing (SOM) is a new worldwide trend in the manufacturing industry. An increasing number of enterprises have realized the advantages and importance of SOM. However, the co-evolution mechanism and the stability of service-oriented manufacturing enterprise systems...

Companies face emerging external complexities that they must respond to with internal complexity to be able to perform on a superior performance level. On that account, an application-oriented methodology to support the context specific selection of appropriate complexity management methods for...

This paper provides an introduction to a unifying heterodox approach to the micro-macro link in economics. We emphasize the analytical problems that may arise from popular misunderstandings about the relationship of individual and aggregate level and thereby illustrate why a thorough...

I create a time series of weekly ratios of Google searches, in the US, on buying and selling in the Real Estate Category of Google Trends. I call this ratio the Google US Housing Market BUSE Index or simply the BUSE index. It expresses the number of "buy"-searches for each "sell"-search which,...

This article shows the challenges and complexities of hedging fixed rate mortgages. A survey of forecasts of brokers about the risks of mortgages shows many significant disagreements, especially for mortgage derivatives such as interest only strip securities