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1.
We analyse the effects of the regulation of wages in a standard one-sector OLG model of neoclassical growth extended to account
for endogenous fertility decisions of households and unemployment benefit policies financed at balanced budget. In contrast
with the prevailing literature, which has failed to pay due attention to inter-temporal contexts, our conclusion is that minimum
wages may be introduced not only for equity reasons, that is, to increase the income of low-paid workers, but under suitable
conditions—i.e., if production is sufficiently capital oriented and the unemployment benefits are high enough—minimum wage
legislation might be considered as a source of increased economic performance despite unemployment, i.e. a regulated-wage
economy performs better than a market-wage economy. As a consequence, since higher minimum wages raise per capita income together
with increasing unemployment, our results imply that a positive correlation between unemployment and long-run income per-capita
may exist. Further, the lifetime welfare of the representative generation may be increased as well. Finally, the wage rate
may also be treated as a policy instrument for the control of population growth.
相似文献
Luca Gori (Corresponding author)Email: |
2.
Using a two-regime model of the inflation-unemployment process for US data 1960:2 to 2000:2, this paper finds strong evidence
to support the Eisner puzzle, which occurs when the short-run Phillips curve (SRPC) is flatter at low rates of unemployment
than at higher rates. The puzzling aspect of this pattern is the expectation of excess demand to become apparent at very low
rates of unemployment causing the SRPC to be steep rather than fairly flat. We show the puzzle can be resolved by estimating
a three-regime model which reveals a steep SRPC at very low rates of unemployment. The estimates of the three regime model
also reveal a horizontal SRPC at intermediate rates of unemployment, implying the existence of a range of equilibrium rates
of unemployment at those intermediate rates.
相似文献
Ian M. McDonaldEmail: |
3.
Thiess Buettner 《Empirica》2007,34(4):287-297
This paper provides empirical evidence on regional labor market flexibility in Europe and, in particular, in the EU-accession
countries in Central and Eastern Europe. Whereas substantial regional disparities in unemployment are found for pre-accession
EU member countries as well as for accession countries, an empirical analysis taking account of spatial effects shows that
regional wage flexibility is significantly higher for accession countries. Moreover, unemployment disparities are found to
be less persistent in the accession countries.
相似文献
Thiess BuettnerEmail: |
4.
Professional team sports provide an ideal real world experiment to explore the effect of top executive replacement due to
the availability of excellent performance data. This paper investigates how replacing the coach affects the performance of
football teams. Analyzing almost 2,000 matches of the Austrian premier football league by ordinal (probit) regression techniques
we find that a new coach tends to enhance team performance in home matches but to weaken it in away matches. However, neither
of these effects turns out to be statistically significant. Nevertheless, the much discussed coach effect—ousting an underperforming
coach in order to improve team performance at least temporarily—may make sense despite the costs involved by providing stronger
ex-ante incentives for effort.
相似文献
Franz WirlEmail: |
5.
Economic integration and similarity in trade structures 总被引:2,自引:0,他引:2
In this paper, we look at the similarity of the trade structures toward the EU market between four CEECs and the EU15. We
evaluate the appropriateness of different indices to compare export flows—correlation indices and distance metrics—opting
for the use of the Bray-Curtis semi-metric. We examine both how the export composition of a country has changed over time
and how the export composition has changed with respect to the EU15 export composition. Finally, we test if the dynamics of
sectoral distribution of the CEECs’ exports is related to the role acquired by processed trade in the 1990s. We give evidence
that processed trade is crucial in explaining changes in the overall structure of exports of transition countries, and that
greater economic integration in terms of trade flows and processing trade does not always lead to greater export similarity.
相似文献
Lucia TajoliEmail: |
6.
Price-setting behavior of Austrian firms 总被引:1,自引:1,他引:0
This paper explores nominal rigidities by investigating price-setting behavior of Austrian firms based on survey evidence.
Distinguishing between two stages of price setting—first the price reviewing phase and second the price changing phase—our
results suggest that the main obstacles to price flexibility lie on the second stage. Our main result is that firms postpone
price adjustments, because they are afraid to antagonize customers with frequent price changes. Thus, customer relationships
- especially those with consumers—are a major source of price stickiness in the Austrian economy.
相似文献
Josef Baumgartner (Corresponding author)Email: |
7.
This paper puts together the non-distortionary liquidity effect of unemployment insurance and job match quality. We identify
a big impact on subsidized unemployment duration and a small impact on wages on the job that follows the unemployment spell.
Wage gains are heterogeneous and concentrated on individuals at the bottom of the pre-unemployment income distribution. The
non-distortionary nature of the liquidity effect reduces the pressure on low-income workers to accept lower productivity jobs.
相似文献
álvaro A. Novo (Corresponding author)Email: |
8.
Understanding the microenterprise sector to design a tailor-made microfinance policy for Cape Verde 总被引:1,自引:0,他引:1
José A. G. Baptista Joaquim J. S. Ramalho J. Vidigal da Silva 《Portuguese Economic Journal》2006,5(3):225-241
Two of the central challenges faced by Cape Verde at the present are the high level of unemployment and the increasing proportion of the population living in (relative) poverty. Microenterprise development can be an effective means of addressing both problems in a developing country like Cape Verde, where microenterprises account for about 50% of employment. In this paper we provide a detailed profile of Cape Verdean microenterprises and microentrepreneurs and investigate the relationship between their characteristics and the resort to outside seed capital. We find a cluster of factors—the microentrepreneur’s age, gender, level of education and reason for being self-employed—which influence significantly the probability of being in need for external start-up capital. The policy implications of these findings for the design of a specific microfinance program for Cape Verde are discussed.
相似文献
J. Vidigal da Silva (Corresponding author)Email: |
9.
Geoffrey Brennan 《The Review of Austrian Economics》2009,22(2):131-143
This paper is an assessment of Besley’s attempt to orchestrate a rapprochement between public choice theory and conventional
public economics—with its characteristic normative orientation towards public policy. In this paper, I first try to set the
Besley enterprise in the context of earlier work—focussing on my own work with Buchanan (The Power to Tax and The Reason of Rules). I then direct attention to three aspects of the Besley enterprise: whether selecting for competence depends on having solved the motivation problem (either by incentive or selection means), how selection mechanisms might be supported institutionally and the possibility
that selection processes might create incentives at the ‘dispositional’ level.
相似文献
Geoffrey BrennanEmail: |
10.
This article studies the question whether labour market institutions can explain the large differences in unemployment rates
in the new member states. It investigates several labour market institutions and concludes that they are on average no more
rigid in the new member states than in the old ones. However, there is a lot of heterogeneity both in terms of institutions
and unemployment rates. The impact of labour market institutions on performance is empirically examined for a panel of European
countries. These results are used to assess to what extent labour market institutions are responsible for the diverse unemployment
experiences in the new member states. Labour market institutions can explain only a small part of these differences. Other
causes of unemployment seem to be more important.
相似文献
Laura ThissenEmail: |
11.
Ralf Brüggemann 《Empirical Economics》2006,31(2):409-431
In this paper we analyze the sources of German unemployment within a structural vector error correction model (SVECM) framework. For this purpose we estimate a VECM model using data for unified Germany. The cointegration analysis reveals a long-run relationship between real wages, productivity and unemployment which is interpreted as a wage setting relation. Based on a reduced form subset VECM we identify structural shocks and assess their importance for unemployment by impulse response analysis, forecast error variance and historical decompositions. In contrast to previous studies for West Germany, we find that productivity, labor supply and labor demand shocks are important sources of unemployment in the long-run.
相似文献
Ralf BrüggemannEmail: |
12.
Given the low levels of migration in the CEEC found in the literature, this paper raises the issue of who is willing to migrate
in these countries. Using data on the willingness to migrate in the Czech Republic we show that variables measuring regional
labour market conditions and amenities contribute little to explaining willingness to migrate, but that personal and household
characteristics are more important. The least willing to migrate are the family-house owners, the less educated and the elderly
as well as persons residing in regions with above-average unemployment rates. Improving the efficiency of the housing market
and focusing on the problems of peripheral regions should thus be primary foci of a policy aimed at improving labour-market
adjustment through migration. These policies are, however, unlikely to yield rapid results, since the willingness to migrate
of all subgroups analysed (except for the less educated) reacts only weakly to regional labour market incentives and amenities.
相似文献
Peter HuberEmail: |
13.
A simple note on herd behaviour 总被引:4,自引:0,他引:4
In his ‘Simple model of herd behaviour’, (Banerjee A (1992) A simple model of herd behaviour. Q J Econ CVII:797–817) shows
that—in a sequential game—if the first two players have chosen the same action, player 3 and all subsequent players will ignore
his/her own information and start a herd, an irreversible one. In this paper, we analyse the role played by the tie-breaking
assumptions in reaching the equilibrium. We show that: players’ strategies are parameter dependent—an incorrect herd may be
reversed; a correct herd is irreversible.
相似文献
Andrea MoroneEmail: |
14.
Naa Anyeley Akofio-Sowah 《International Advances in Economic Research》2009,15(3):296-309
This paper investigates the relationship between the monetary regime: pegged, currency board, dollarization, and the exchange
rate pass-through for a sample consisting of 15 Sub-Saharan Africa countries and 12 Latin American countries. The research
findings about pass-through rates will shed light on the feasibility of a monetary union for Sub-Saharan Africa. The inclusion
of the latter country group was deemed desirable to explore pass-through behavior in several monetary regime options not often
used in Sub-Saharan Africa.
相似文献
Naa Anyeley Akofio-SowahEmail: |
15.
We investigate regional differences in the level and the development of regional new business formation activity. There is
a pronounced variance of start-up rates across the regions. The level of regional new business formation is rather path-dependent
so that changes are relatively small. The main factors determining the level of regional start-ups are innovation and an entrepreneurial
climate. These factors also seem to be responsible for changes in the level of regional new business formation. In addition,
unemployment plays a role. Steering innovation and creating an entrepreneurial atmosphere could be an appropriate starting
point for policy measures that try to promote start-ups. Our empirical evidence strongly suggests that such measures may have
significant effect only in the long run.
相似文献
Pamela MuellerEmail: |
16.
Hardy Hanappi 《Journal of Evolutionary Economics》2008,18(2):275-289
The goal of this paper is to highlight the importance of the concept of choice. To do so, a synopsis of the most important
contributions to this topic—featuring an eclectic set of scholars across disciplines—is provided. As central to the argument,
John von Neumann’s contributions, game theory and simulation techniques on von Neumann machines, are identified. Innovation
(economic and theoretic) as the driving force behind human evolution seems to head for a new scientific paradigm based on
von Neumann’s ideas.
相似文献
Hardy HanappiEmail: |
17.
This paper sets up an efficiency wage model which combines goal-attainment theory and the expectancy-valence approach. Taking
account of the psychological work motivation, we find that the aspiration for goal attainment may be a substitute for unemployment
as an instigator of work motivation in full employment. In addition, since raising the firm’s goal has a diverse impact on
the high and low need-for-achievement workers, a higher goal-setting does not appear capable of increasing worker effort within
firms. This finding reconciles the conflicting experimental results in industrial psychology literature.
相似文献
Chia-Ying LiuEmail: |
18.
We study interactions between two policymakers, central bank and government, in managing public debt as the result of a two-stage
game. In the first stage, the institutional regime is established. This determines the equilibrium solution for the second
stage, in which a differential game is played between the two policymakers. It is shown that, if the policymakers can communicate
before the game is played (multiple-equilibrium), coordination problems can be solved by using the concept of correlated equilibrium.
相似文献
Debora Di GioacchinoEmail: |
19.
This study examines the impact of a stamp tax rate increase on market behavior, using data from two stock exchanges in China. We find that when the tax rate increases from 0.3 to 0.5% (which implies that the transaction cost increases by about 1/3) trading volume decreases by 1/3. This implies an elasticity of turnover with respect to a stamp tax of −50% and an elasticity of turnover with respect to transaction cost of −100%. The markets’ volatility significantly increases after the increase in the tax rate. Furthermore, the change in the volatility structure indicates that the markets become less efficient in the sense that shocks are less quickly assimilated in the markets.
相似文献
Badi H. Baltagi (Corresponding author)Email: |
Dong LiEmail: |
Qi LiEmail: |
20.
Bryan Caplan 《The Review of Austrian Economics》2008,21(1):45-59
Ludwig von Mises argues that public opinion, not the form of government, is the ultimate determinant of policy. The implication
is that, holding public opinion constant, democracies and dictatorships will have the same policies—a result I call Mises’
Democracy–Dictatorship Equivalence Theorem. According to Mises, dictators have to comply with public opinion or else they
will be overthrown. I argue that he seriously overestimates the power of revolution to discipline dictators. Mises was perceptive
to note that, in practice, “dictatorially imposed” policies are often democratically sustainable, but he neglected several
mechanisms—all more plausible than the threat of revolution—capable of explaining this fact.
相似文献
Bryan CaplanEmail: |