Analysis of farmer purposes in raising local beef cattle breed: An Analytical Hierarchy Process (AHP) approach

Farmers raise cattle for various purposes, such as a source of cash income, investment function, and socio-cultural function. The research objective was to analyze farmers’ preferences in raising Peranakan Ongole (PO) as local beef cattle breed based on the purpose of raising livestock. This study involved 8 farmers from Klaten District, Central Java. Klaten Regency was chosen as a research location because it received PO cows as a grant from the Ministry of Agriculture. Respondents were selected purposively according to the criteria of being a livestock group administrator and being experience in raising PO as local beef cattle breed for ≥10 years. Analytical Hierarchy Process (AHP) was applied to determine the priority of beef cattle criteria that are used by farmers to develop their business. There were three criteria and six factors used in this analysis. These criteria were cash income, investment function, and socio-culture function. Whereas, the six factors used were cattle breed, selling price, adaptability, reproductive ability, body size, and the physical appearance of the livestock. The results revealed that the reproductive ability has main preference among farmers due to the investment function was the main purpose in raising PO cattle.

Bifurcations and Arnold Tongues of a Multiplier-Accelerator Model

In this paper, we investigate the bifurcations of a multiplier-acceler-ator model with nonlinear investment function in an anti-cyclical fiscal policy rule. Firstly, we give the conditions that the model produces supercritical flip bifurcation and subcritical one respectively. Secondly, we prove that the model undergoes a generalized flip bifurcation and present a parameter region such that the model possesses two 2-periodic orbits. Thirdly, it is proved that the model undergoes supercritical Neimark-Sacker bifurcation and produces an attracting invariant circle surrounding a fixed point. Fourthly, we present the Arnold tongues such that the model has periodic orbits on the invariant circle produced from the Neimark-Sacker bifurcation. Finally, to verify the correctness of our results, we numerically simulate a attracting 2-periodic orbit, an stable invariant circle, an Arnold tongue with rotation number 1/7 and an attracting 7-periodic orbit on the invariant circle.

The David-And-Goliath-esque Problematic of “Unfair Advantage” in Trade Mark Law: Is the EU Moving Towards a Categorical Protection of Famous Brands?

The extended protection of trade marks with a reputation is losing its “exceptional” character, making way for an almost categorical bar to the registration of any competing sign; indeed, the “unfair advantage” requirement appears to have been confounded with that of similarity. Certainly, trade marks are recognized as a legitimate restriction of the freedom of commerce and, arguably, in principle, competitors can and should invest their own efforts into conceiving and promoting an original sign under which they can market their goods and services. Nevertheless, trade mark law, insofar as it protects the investment function of a reputed mark, does not for as much shield the proprietor from all competition, even if this means that he must work harder in order to preserve this reputation. Indeed, the use of a similar sign is sometimes deemed to be ineluctable, where the applicant demonstrates that he cannot reasonably be required to abstain from using such a sign as, for example, it would be made necessary for the marketing of his products. This is especially true where the sign makes use of descriptive terms or elements in order to indicate the type of goods or services offered by the applicant under the mark applied for. This paper aims to critically discuss the most recent EU and UK jurisprudence on “unfair advantage” in the context of trade mark registration and infringement, focussing primarily on the components of this EU creation and how they are interpreted by courts on both a national and EU level.

Wage- and profit-led growth regimes: a panel-data approach

The extensive empirical effort made in the growth and distribution literature to estimate whether economic growth is wage- or profit-led has not sufficiently considered the theoretical foundation of the Neo-Kaleckian model. This paper attempts to respect key tenets of the investment function by estimating a panel-data model in which country-specific structural characteristics and possible endogenous relationships in income distribution and economic growth are explicitly considered. The identification strategy is based on several estimates of the capital stock and the rate of capacity utilization for 61 countries over the period between 1995 and 2014. The main results suggest that the growth regime was wage-led in developed countries, while most developing countries exhibited a profit-led growth regime. Interestingly, however, while the profit-led regime occurs through the international trade channel in Latin American countries, in other developing countries, the causality channel is mainly related to the domestic investment function.

CRYPTOCURRENCY – DEFİNİTİON, FUNCTİONS, ADVANTAGES AND RİSKS

The emergence of “virtual currencies” is extremely recent, with a history of only 13 years. Being an ultra-new economic tool, it arouses interest and effervescent reactions, especially in terms of definition, but also about the cumulative effects it has begun to produce in the economic world. The subject also becomes controversial due to the fact that, being an economic instrument of absolute novelty, it is reflected in the legislation of very few countries in the world. One of the definitions determines as virtual currency – the digital representation of the value that is not issued or guaranteed by a central bank or a public authority, which is not necessarily linked to a legal currency and which does not have the legal status of the currency, but which can be accepted by natural or legal persons as a means of exchange and which may be transferred, stored and traded by electronic means. The evaluation of cryptocurrency publications has shown that most of them are related to attempts to establish legislative agricultural work for the operation of virtual currencies. The functions of the cryptocurrencies that we have defined are: the exchange and payment function, the hoarding function, the investment function and the attraction of funds necessary for the activity. Thus, we established that virtual currencies, as well as fiduciary ones, have the role of: means of payment, means of accumulation, means of capitalization and investments. Likewise, through this research we managed to highlight the main features and peculiarities of cryptocurrencies. Among the basic characteristics of cryptocurrencies we highlight: the high degree of security, maximum speed of transactions, full freedom from financial organizations, irreversibility of operations, full anonymity of transactions, open source, they can be ”mined”. Another approach was to determine the advantages and disadvantages and risks of using cryptocurrencies. The main advantages of using cryptocurrencies are related to its functions an caracteristics, such as: it represents a real alternative to classic banking services, market freedom, privacy of transactions, high speed of trnasactions, alternative payment methos, increasing the customer base etc. On the other hand there are some disatvantages. They are related mosly with the following risks: legal uncertainty, market volatility, low degree of acceptance, unsecured crypto wallets, risks related to use for illegal or criminal purposes, money laundering risks. Taking in consideration the global trend of the digitization of the society, the share and importance of fiat currencies will tend to decrease for the benefit of virtual currencies. Cryptocurrencies are becoming a real alternative to physical currencies, but its main disadvantage is that the public autorities are missing controlling it yet. Even so, in the nearest future the money could become digital figures.

Problems of Transformation of Household Savings into Investments

In modern conditions, searching for investment sources to develop economy is very relevant. The authors of the article focus on household savings as one of the most significant sources of investment, seeing that their investment function is not fully implemented in modern Russian practice. The article represents a dynamic study of population savings for over the past ten years and identifies the reasons for their decline. The authors analyze changes in the structure of savings and their investment directions and come to the conclusion about their inefficient use due to the predominance of passive ways of savings and insufficient use of the opportunities of a stock market. It is also determined the reasons that prevent the transformation of these savings into investments and the ways for solving these problems. The article considers an individual investment account as the most promising investment mode which is getting more and more popular. A special role in the transformation of household savings is assigned to the state, which must create the necessary conditions and provide access to the tools of the stock market for a large number of private investors.

Capital-labor conflict in the Harrodian model

This study aims to consider the effect of capital-labor conflict in the Harrodian model. For this purpose, we incorporate a Bhaduri–Marglin-type investment function, reserve army effect, and technological change in the Harrodian model. Using this model, we find that not only both the reserve army effect and a Bhaduri–Marglin-type investment function but also technological change are needed for a stable Harrodian model. Second, the degree of technological change must lie within a specific range for the model to be stable.