Adjustment Costs in a Two-Capital Growth Model

The paper analyzes the convergence dynamics of a log-linearized open- economy neoclassical growth model under the assumptions of large adjustment costs for human capital investment, moderate adjustment costs for physical capital investment, and perfect capital mobility. The model can be calibrated for sufficiently slow conditional convergence. The model's dynamics turn out to be richer than the dynamics of the basic neoclassical model due to the imbalance effect between human and physical capital.Adjustment costs; Capital mobility; Convergence; Human capital; Neoclassical growth

A Note on the Imbalance Effect in the Uzawa-Lucas Model

The Uzawa-Lucas model is believed to yield a positive dependence of the output growth on the ratio of human capital to physical capital (an empirically plausible imbalance effect). We show that the imbalance effect become less plausible for a low physical capital share and a low elasticity of intertemporal substitution. In particular, the model is inconsistent with empirical observations for a relatively broad range of realistic parameter specifications.

To what extent can knowledge management systems build and reinforce consensus around initiatives for change?: A self-reflective analysis of professional practice

This thesis reports on my attempts to \u27re-align\u27 the purpose, behaviour and underlying culture of a large military organisation through heuristic, self reflective enquiry - to \u27find its future\u27 - with and through its people. I use the word re-align with great care as I recognised that change would have been too ambitious and would (probably have) result(ed) in failure. Whilst I cannot claim total success, I have made new and valuable discoveries in knowledge elicitation and methods of integrating the views of a large number of people to \u27build and reinforce consensus around initiatives for change\u27. In the process of completing this research I developed a novel approach to strategic planning/policy making that advances the ends, ways and means construct of decision-making into a purer and more refined approach. One that anchors these elements firmly to the organisation and its environment simultaneously through a knowledge management system, enabling the strengths and weaknesses within the organisation to be drawn into sharp focus - an effects based planning approach. I have also fused together the more systematic and disciplined approaches embodied within a knowledge management system with existing and more creative scenario planning/future focussed methods. Thus allowing organisations to undertake \u27self-constructed\u27 audits that have an immediate interest or are situated well into their future, doubling its value as a planning device. As I report, the methods have been presented at the highest levels of Defence, attracting interest from the Australian Minister of Defence. The New Zealand Defence Force, Naval Warfare Development Command of the United States Navy and Australia\u27s Chief of Air Force have also expressed an interest in the potential of an effects-based orientation to planning and policy-making. Whether the concepts and underpinning ideas become established, leading to the discovery of a post-modem military is uncertain. What is clear is that there is a definite move away from a pre-occupation with the means, or the things that are done, towards a more comprehensive understanding of what are we trying to make happen as a guiding principle. This is certainly of value within military \u27organisations and has potential for others involved in complex problem-solving in social settings. A heuristic, self-reflective approach has enriched this search for focussed and \u27change-finding\u27 knowledge, allowing a more purposeful, complete and forthright account of the involvement of others

On the Empirics of the Nonneutrality of Money: Cross-Country Evidence

Abstract The paper first challenges the traditional view that money is long-run neutral; it is shown that chronic monetary contractions were associated with significantly below-average output growth rates. The paper then examines the average per capita output growth performance across countries in the years with extremely high growth rates of money, in the years with declines in monetary aggregates, and in the years with declines in the price level in the 1970-1990 period. The mean output growth performance is significantly below the crosscountry long-run average in all these situations. There is some tendency of money changes to precede output changes and some tendency of broader monetary aggregates to be more strongly associated with real output than narrower monetary aggregates. JEL classification: E31, E32, N1

On the Non-neutrality of Money: Evidence from the 1990s

Abstract The paper examines the cross-country association between nominal money and real output between 1990 and 2000. Both high money growth rates and declines in money are connected with below-average output growth rates. The association between the monetary base and real output is weaker than the association between M1 (or M2) and real output. We observe no tendency of money changes to precede output changes. JEL classification: E32, E5

Hybrid warfare and disinformation: A Ukraine war perspective

Misinformation, disinformation and mal information are part of the information disorder construct, dominating the information warfare domain. These are key enablers associated with grey zone operations, and an integral part of current adversaries\u27 and competitors\u27 hybrid warfare tool kit. Disinformation, in combination with influence operations, also plays an important role within the concept of hybrid warfare; both from a threat–and own resilience perspective. This article reflects on these information warfare tools and their application by Russia in the current Russo-Ukraine war, offering potentially considerable force multipliers in the information domain for the Russian aggressor. Hybrid warfare and associated threats, specifically focusing on aspects of information warfare, disinformation, deception (typically within the context of political activity or warfare so commonly associated with Russian active measures) and as part of an adversary\u27s grey zone operations approach are all discussed raising awareness towards building resilience by means of a comprehensive approach to counter such threats to national security