Fiscal financing and the efficacy of fiscal policy in Korea: An empirical assessment with comparison to the U.S. evidence

This paper aims to assess the empirical implications of fiscal financing in Korea and study how they differ from those of the U.S. We estimate two versions of the dynamic stochastic general equilibrium (DSGE) model—a small open economy (SOE) model for Korea and its closed economy counterpart for the U.S.—in which the former nests the latter as a special case. The fiscal policy specification posits that government spending, lump-sum transfers, and distortionary taxation on labor income, capital income and consumption expenditures respond to the level of government debt and the state of economic activity. Analysis of the data from 2000 to 2015 shows that distortionary capital taxes play a critical role in stabilizing government debt in the U.S., whereas non-distorting fiscal instruments are the primary means of fiscal adjustment in Korea. Regarding the magnitude of debt-financed fiscal stimuli, the substantial trade openness of Korea is significant in that it produces relatively smaller government spending and transfer multipliers compared to the U.S.     

Design and Management of Participatory Public Policy Making

In The Netherlands many local governments make public policy in a participatory way. Civilians and other interested parties are invited by policy makers to design public policy cooperatively. As a consequence many actors and information are embedded in the policy making process, because these actors describe the issue(s) and solutions for the policy problem differently. Some municipals are able to cope with the growing complexity of the policy process, others not. In order to deal with the growing process complexity, local governments hire independent process professionals. These process professionals design and manage the participatory policy process. However this is far from easy in practice. The process-architects and process-managers are faced with a lot of dilemmas in their process-design and process-management activities of the participatory public policy process. This article will describe some dilemmas for process-design as well as for process-management of participatory public policy making, and ways of coping with these dilemmas.     

评价阻燃纤维及其性能表征方法研究

阻燃纤维的研究和生产发展迅速，但尚无建立适合纤维形态的阻燃性能检测方法和评判标准。纤维阻燃性能测检方法的空白已在很大程度上制约阻燃纤维产品的开发和市场推广。经过三年的不懈努力，我们建立了涤纶和粘胶短纤维及涤纶长丝阻燃性能试验方法——氧指数法来表征其阻燃性能。     

The Unintended Consequences of High Expectations and Pressure on New CEOs

We provide empirical tests of a general version of targeting theory that greater scrutiny could lead to executive abuses. Our results show that new CEOs under higher expectations or pressure are more likely to report meeting analyst forecasts; however, this apparent superior performance dissipates after excluding firms having characteristics synonymous with earnings manipulation. We find evidence that new CEOs under greater pressure are considerably more likely to engage in manipulation while the link between expectations and manipulation is much weaker. The results are strongest for new CEOs whose firms report meeting forecasts and do not “walk down” earnings estimates.     

Neoliberalization,Housing Institutions and Variegated Gentrification: How the ‘Third Wave’ Broke in Amsterdam

Neil Smith argues that in the last two decades gentrification has become a generalized global urban phenomenon. His theory is at a high level of abstraction, as it links urban gentrification to globalization, financial capitalism and neoliberalization. With these global processes, all cities have experienced ‘third wave’ gentrification. The theory, however, leaves little room for variegations of gentrification, apart from characterizing geographical differences as idiosyncrasies or as minor variations. This downplays the role of intervening mechanisms that impinge upon the pursuit and social outcomes of gentrification. This article aims to amend abstract theory by looking at Amsterdam from a historical institutional perspective. In Amsterdam, gentrification was particularly made possible by a process of neoliberalization within the housing system. However, as institutional change is incremental and based on layering and conversion, many older institutional arrangements remain in place. These arrangements tend to slow gentrification and assuage social consequences. Nevertheless, neoliberal modifications to the housing system have been accelerating the pursuit of gentrification. Current policies will very likely lead to exclusionary displacement.     

我国国有企业民营化发行后绩效变化的影响因素分析

笔者研究了我国国有企业民营化发行前后的绩效分布和变化特征,并重点从宏观层面和微观层面分析了绩效变化的影响因素。研究表明,经济增长率、资本市场成熟度、机构投资者、集权式管理、股权再融资和独立审计选择能够促进民营化发行后绩效水平的改善,市场竞争度、大股东控制度、中央控制、股权制衡度和关联交易对民营化发行后的绩效具有显著负相关影响,而行业管制、投资者保护度、地区市场化和对外担保对民营化发行后绩效的影响效应不明显。可见,影响国有企业民营化发行后绩效变化的原因来自宏观和微观两个方面,忽视任何方面都不能全面地解释民营化绩效的变化。     

浅谈高校绩效管理工作的问题及对策

介绍绩效管理在高校人力资源管理中的意义,对目前高校绩效管理工作中存在的问题进行总结分析,指出基于岗位分类的绩效管理体系的重要性,并提出构建基于岗位的绩效管理体系的若干建议,为高校管理部门提供参考。     

AN ANALYSIS OF SUPPLY CHAIN COLLABORATIONS AND THEIR EFFECT ON PERFORMANCE OUTCOMES

This research examined how operational outcomes, relational outcomes and business performance are affected by a collaboration project between buyers and suppliers in a supply chain. It is hypothesized that interdependence of knowledge and process, supply chain partner insight, and the level of collaboration between the firms affect the outcomes of a collaboration project. Survey data from buyers and suppliers from a wide range of industries and organizations were used in this analysis. Among these participants, higher levels of collaboration led to improvements in operational and relational outcomes, which together led to improvements in asset utilization, competitive position, organizational performance, and profitability.     

Design limits and dynamic policy analysis

This paper characterizes the frequency domain properties of feedback control rules in linear systems in order to better understand how different policies affect outcomes frequency by frequency. We are especially concerned in understanding how reductions of variance at some frequencies induce increases in variance at others. Tradeoffs of this type are known in the control literature as design limits. Design limits are important in understanding the full range of effects of macroeconomic stabilization policies. We extend existing results to account for discrete time bivariate systems with rational expectations. Application is made to the evaluation of monetary policy rules.