Browsing by Subject "Inflation"
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Item Restricted Analysis of Past Instance of Inflation(2022) Igor Želčević; Artinger, Florian; Villegas, Erick Behar; Faculty of Business Administration; Berlin International University of Applied SciencesAUTHOR-SUPPLIED ABSTRACT: Abstract: As a phenomenon, inflation has recently been on the rise across the globe. In the cases of some developed countries, inflation levels are reaching levels not seen in at least the previous two decades. According to Reinhart and Von Luncker (2022), across the globe, both in developing and developed countries, the world is faced with inflation above 5% on an annualized basis. By reviewing past periods of inflation throughout history, the paper intends to isolate key causes, as well as provide potential solutions and suggestions to help tackle the problem. The research will focus on both qualitative and quantitative factors that influence inflation. The quantitative part will include a time-series analysis of CPI data, interest rates, and money supply, among other variables, to find correlations that precede inflation. The qualitative part will examine geopolitical realities, psychology, and government policies. Additionally, the paper will explore the difference in perception of inflation among various economic schools and how they have influenced monetary policy. Although the paper will include examples of hyperinflation and information about inflation in the early-modern and modern periods, the main focus will be on the time period from 1960-2022, primarily pertaining to the G20 countries. The analysis will rely on data obtained from the OECD, IMF, and World Bank databases, as well as relevant central banks. The goal of the research is to provide policy makers today with useful suggestions and methods to combat inflation by identifying common trends and patterns among the analyzed examples. Two primary aspects will be considered: policy errors and external factors leading up to inflationary periods, and the responses to inflation by economic policy makers and governments, assessing their effectiveness in suppressing the phenomenon. Keywords: inflation, developed countries, causes, solutions, qualitative factors, quantitative factors, time-series analysis, CPI data, interest rates, money supply, geopolitical realities, psychology, government policies, economic schools, monetary policy, hyperinflation, G20 countries, policy makersItem Restricted Economic Analysis Effects of the Turkish Minimum Wage on Retail and Service Industries(2023) Yasin Emre Yilmaz; Mantel, Peter; Villegas, Erick Behar; Faculty of Business Administration; Berlin International University of Applied SciencesAI-GENERATED ABSTRACT: Abstract: The minimum wage is defined as the wage paid to workers for a normal working day and sufficient to meet the minimum level of the worker's compulsory needs such as food, housing, clothing, health, transportation, and culture (Kurtcebe and Horzum, 2017). According to Machin and Manning (1997), the argument in favor of the minimum wage is that it prevents the worst forms of exploitation in the workforce and raises the living standards of the lowest paid to the minimum acceptable level. The argument against it is that it may drive out low-skilled workers. This paper critically examines the impact of the minimum wage on Turkey's retail and service sectors over a 16-year period (2006-2023). Given Turkey's high minimum wage workers rate, this research is relevant and timely. The literature reveals a complex relationship between the minimum wage and various economic outcomes such as employment, wages, economic growth, inflation, and income distribution. Neumark and Wascher (2008), in a comprehensive review of the literature up to 2006, argue that the minimum wage has a more significant impact on the employment of low-skilled workers than on those with intermediate skills. In addition, Croucher and Rizov (2012) suggest that higher wages can motivate workers and increase productivity. On the other hand, Del Carpio and Pabon (2017) show that large increases in the minimum wage can increase unemployment and the prevalence of informal employment, with negative consequences for labor productivity and businesses through reduced investment in employee training and the loss of productive workers. The literature on the impact of the minimum wage has found negative effects, including job losses and reduced profitability, and positive outcomes, including wage increases and increased productivity. Draca and others (2006) conclude that the impact of the minimum wage on profits is quite small. Key findings include mixed perspectives in the literature on the employment effect, increased wages for low-wage workers, debates on the magnitude of wage effects, and conflicting views on productivity and profitability. Industry- specific characteristics and firm size are crucial factors in these assessments. The study also points to potential negative impacts on labor productivity and enterprises, especially small enterprises. Keywords: minimum wage, labor market, employment, wages, economic growth, inflation, income distribution, labor productivity, Turkey, service sectorItem Restricted How Did Food Logistic Firms in Berlin Respond to the Recent Challenges of Inflation and the COVID-19 Pandemic?(2023) Alihaydar Yücel; Artinger, Florian; Villegas, Erick Behar; Faculty of Business Administration; Berlin International University of Applied SciencesAI-GENERATED ABSTRACT: Abstract: Purpose - The purpose of this thesis is to explore how food logistic firms in Berlin responded to the recent challenges of inflation and the COVID-19 pandemic. Design/methodology/approach - A qualitative research methodology was used in the study, which involved conducting one-on-one interviews with food logistic companies in Berlinches Thematic analysis was applied to analyze the interview data and identify recurring themes related to the firm's responses and adaptations during the challenges of inflation and the COVID-19 pandemic. The merger of qualitative data collection and thematic analysis allows for a comprehensive exploration of the participant ́s perspectives and experiences. Findings - The interviews with food logistics companies in Berlin provide insightful information about their responses and adaptations to inflation and the COVID-19 outbreak. With a priority on securing logistical spaces in advance and investing in digitization for supply chain flexibility, the challenges of managing pricing strategies, margins, and demand elasticity were highlighted. Originality/value - This thesis adds to the existing literature by providing a comprehensive exploration of how food logistic companies in Berlin react to the challenges of inflation and the COVID-19 pandemic. Thematic analysis and the qualitative research approach used in this study provide insightful understandings of the different approaches and adaptations adopted by these organizations under these special circumstances. Keywords: food logistic firms, Berlin, inflation, COVID-19 pandemic, supply chain, Qualitative