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1. Development and Metric Validity of “Escala De Fricção Logística (EFL)” for Assessment of Military Boarder Organizations’ Supply

Author:
Tassio Franchi, Angela Nogueira Neves, Luis Fernando Tavares Ferreira, and Eduardo Xavier Ferreira Glaser Migon
Publication Date:
09-2024
Content Type:
Journal Article
Journal:
AUSTRAL: Brazilian Journal of Strategy International Relations
Institution:
Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
Abstract:
This article aimed to create and conduct a metric evaluation - with the establishment of evidence of construct validity and internal reliability – the Escala da Fricção Logística (EFL), adjusted for the Amazonian environment. Methodologically, the research is divided into two studies; the first, focused on the creation of the instrument, which followed already consolidated recommendations for measurement scales by theory. A second, in which the metric evaluation of the theoretical structure foreseen for the EFL is carried out. The items were evaluated through confirmatory factor analysis, with extraction by partial least squares, in order to generate evidence of construct validity and internal reliability. For this analysis, the EFL was answered by 110 military personnel who served in border organizations. The results indicated that the scale with 16 items divided into three factors - individual, environment and equipment - is valid and reliable to assess the logistical friction in the Amazon frontier region. An instrument is available that can be useful to generate data for the improvement of public policies in the areas of Defense and Transport.
Topic:
Border Control, Borders, Supply, Military, and Evaluation
Political Geography:
Brazil and Amazon Basin

2. Was Something Structurally Wrong at the FOMC?

Author:
Alan S. Blinder
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
There is little doubt that the Federal Reserve was late to start raising interest rates as inflation rose in 2021–22. The Federal Open Market Committee (FOMC) made a substantial, though perhaps understandable, error in failing to raise interest rates until March 2022. Much of that policy error can be attributed to faulty forecasts of inflation, which the Federal Reserve shared with many other forecasters. It was not an outlier. But the error was not quite as consequential as the Fed’s sharpest critics allege. Even if the FOMC had started to hike rates earlier, the econometric evidence suggests that the effects on peak inflation would likely have been small. Supply constraints, not excess demand, ruled the roost. They came, driving inflation higher; and then they went, pulling inflation down. Blinder says that the FOMC’s August 2020 framework shoulders more of the blame for the inflationary surge than it should—probably because the new wording revised both of the Fed’s goals, low inflation and high employment, in dovish directions. For that reason alone, the framework will almost certainly be changed in 2025, given the high inflation since. But how? Blinder suggests that the August 2020 change in the employment goal, from symmetry to “shortfalls,” is sensible and probably not too important anyway. But the change in the inflation goal, from a 2 percent point target to flexible average inflation targeting (FAIT), was probably consequential. It may have made the FOMC slow on the draw as inflation gathered steam, and it may have kept monetary policy too tight for too long in 2024. In both directions, Blinder argues, a 1.5 to 2.5 percent target range would be a better choice. To answer the question in the title of this Policy Brief, that may be the structural flaw the Fed should fix.
Topic:
Economics, Monetary Policy, Federal Reserve, Interest Rates, and Supply
Political Geography:
North America and United States of America

3. Economic impacts of electricity supply shortages in South Africa

Author:
Hiroaki Suenaga
Publication Date:
12-2024
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This study examines the sectoral impacts of electricity supply shortages in South Africa, using the cost share information available from the 2015 social accounting matrix. A simulation conducted under each of two technological assumptions, Cobb-Douglas and Leontief, reveals that a productivity decline in the electricity, gas, steam, and hot water supply (EGSH) sector increases the price of the EGSH sector substantially, while it affects the other sectors marginally due to the small cost shares of the EGSH factor in these sectors. The total cost of supplying the baseline final demand increases by ZAR19 billion or 0.46% of the baseline gross value added (GVA) when EGSH productivity declines by 10%. This cost impact expands to ZAR150 billion or 3.57% of GVA when EGSH productivity is halved. Large shares of these cost increments are incurred by the EGSH and manufacturing sectors, owning to the direct physical impact of productivity decline for the former and a large share of its sectoral GVA in the aggregate economy for the latter. The simulation also indicates that the equilibrium wage should increase by a greater extent for workers with a lower education than for those with a higher education if the baseline final demands are to be met at the higher EGSH output price after the sector’s productivity decline
Topic:
Economy, Manufacturing, Electricity, Supply, and Productivity
Political Geography:
Africa and South Africa

4. What Mode of Supply Will Matter the Most for the Future of Services Trade?

Author:
Lucian Cernat
Publication Date:
09-2024
Content Type:
Policy Brief
Institution:
European Centre for International Political Economy (ECIPE)
Abstract:
This Policy Brief looks at the latest trends in services trade and tries to show their importance, in its various manifestations, for virtually all countries in the world. The paper starts with a short history of trade in services across centuries. Fast forward to today’s realities, the paper uses the most comprehensive datasets documenting the latest trends in global trade in services by modes of supply, trying to fill a gap in trade policy analysis and providing new insights on the importance of different modes of supply for various countries. The paper concludes with some recommendations aimed at creating a bridge between the various policy priorities shaping the future of globalisation in coming years.
Topic:
Globalization, Services, Trade, and Supply
Political Geography:
Global Focus