MNEs from emerging economies (EE MNEs) have recently undertaken aggressive cross-border mergers and acquisitions (M&As). This phenomenon challenges the current understanding in the international business literature. Integrating the comparative advantage theory with Dunning’s OLI paradigm, this article develops a comparative ownership advantage framework characterized by five attributes: (1) nat...

Enrollment in Medicare Advantage (MA) plans in rural areas grew more than 50% in the first three quarters of 2007 and has more than tripled since the inception of the MA program at the beginning of 2006. However, rural enrollment remains well below urban enrollment as a percentage of the eligible population. This brief updates early findings from analysis of the Medicare+Choice/MA program prese...

We measure the United States capital stock of money implied by the Divisia monetary aggregate service flow, in a manner consistent with the present-value model of economic capital stock and asset pricing theory. The resulting measures differ substantially from the usual simple sum accounting monetary aggregates. We permit non-martingale expectations and time varying discount rates. Based on Bar...

Price stability has been the foremost task of monetary policy. The information relating to the response of prices to monetary policy shocks is essential for conducting monetary policy in general and for inflation targeting of central banks in particular. Most of the published empirical studies analyze the response of an aggregate price index like CPI or a consumption deflator and their r...

This is a case study of industrial systems development. In the project studied, an advanced computer application was developed with the intention of supporting complex, cooperative work. The project participants all viewed the emerging computer application in context. However, different contexts were used by each group of actors. Since the application was placed in contexts well known by the pa...

The Medicare Modernization Act of 2003 explicitly increased Medicare payments to private Medicare Advantage (MA) plans. As a result, every MA plan in the nation is paid more for its enrollees than they would have been expected to cost in traditional fee-for-service Medicare. The authors calculate that payments to MA plans in 2008 will be 12.4 percent greater than the corresponding costs in trad...

When he wrote this article, Ted Crone was a vice president and economist in the research Department of the Philadelphia Fed and head of the regional and microeconomics section. he has since retired. this article is available free of charge at www.philadelphiafed.org/econ/br/index. lthough there is only one national monetary policy, that does not mean that monetary policy does not affect some re...