The dynamics of moonlighting in Russia1

This paper uses the Russian Longitudinal Monitoring Survey (RLMS) to analyse the dynamics of moonlighting by the working‐age population. We find that moonlighting is transitory and that a desire to switch jobs expressed in the past is positively related to moonlighting in the present and to actual job changes in the future. We also find that workers who moonlighted as self‐employed in the past represent 26.5 percent of the new self‐employed. These results suggest that moonlighting in Russia can be seen as an effective incubator for setting up new self‐employed businesses, thereby providing long‐term benefits for the economy.     

Unpacked and packed fluid milk consumption patterns and preferences in Turkey

The objective of this study is to investigate unpacked and packed fluid milk consumption patterns and preferences among Turkish households by using cross‐sectional survey data from 18,278 households. Based on the data, 47.8% of the households consume unpacked milk, 29.3% consume sterilized milk, and 7.9% consume pasteurized fluid milk at least once a month. Results of the multinomial logit model for fluid milk consumption behavior suggest that unpacked fluid milk preference is related positively to household size, income and age of the household head, and negatively to education level of the household head and status of the household wife. Similarly, pasteurized and sterilized fluid milk preferences are related positively to income and the education level of the household head, and negatively to household size and age of the household head. Results from these analyses are used to suggest techniques for marketing fluid milk products to specific segments of the consumer population.     

The impact of regulation on market risk

While it is crucial to understand the impact of regulatory changes on market risk, the literature does not show how risk responds to expected regulatory changes that are specifically designed to change risk. Our paper fills this gap by providing a detailed study of one such case. Using both a sample of privatized U.K. companies, and U.K. and U.S. control portfolios, between 1993 and 2000, we show (both for the single-factor market model and the three-factor Fama-French model) that the observed changes in market risk are significant and consistent with theory.     

QUANTIFYING THE OUTSOURCING OF JOBS FROM MANUFACTURING TO SERVICES

There has been debate internationally and in South Africa about the extent to which a relative decline in manufacturing employment and rise in services employment can be accounted for by intersectoral outsourcing of jobs in the domestic economy. This article develops a new methodology for testing for and quantifying outsourcing at an economy-wide level. This methodology is used to analyse intersectoral shifts in employment in South Africa between 1997 and 2005. Trends in employment in the business services subsector of services are also examined for what they suggest about the extent of outsourcing. Overall, the results suggest that intersectoral outsourcing accounts for some but by no means all of the apparent shift in employment between the manufacturing and services sectors in South Africa.     

Public and Private Education in an Integrated Europe: Studying to Migrate and Teaching to Stay?

This paper investigates public and private choices between internationally applicable and country‐specific education when graduates are mobile. Human capital depends on innate skills and study effort with either type of education. It is shown that national governments provide too few students with internationally applicable education, and too many with country‐specific education. This effect is mitigated, but not entirely eliminated, by the introduction of a graduate tax, according to which graduates are required to pay part of their taxes to the country where they received their education, regardless of residence. However, private educational choices are socially optimal with suitably differentiated tuition fees.     

REVISITING INFORMAL EMPLOYMENT AND SEGMENTATION IN THE SOUTH AFRICAN LABOUR MARKET

This study revisits the definition of informal employment, and it investigates the puzzle of high open unemployment co‐existing with relatively limited informal employment in South Africa. We estimate earnings equations using data from the September 2004 Labour Force Survey and present evidence of persistent earnings differentials not only between formal and informal employment, but also between types of informal employment. These persistent earnings differentials are suggestive of complex segmentation in the South African labour market and challenge the presentation of informal employment as an undifferentiated residual with no barriers to entry or mobility.     

Accounting for the stock of human capital: Selected evidence and potential implications

Accounting for the Stock of Human Capital: Selected Evidence and Potential Implications. — Given the observed distribution of output and labor across countries, most capital flows should be from rich to poor countries. As is shown for a limited sample of countries, accounting for differences in the stock of human capital substantially reduces the implicit cross-country rate of return differentials. Additionally, accounting for human capital externalities based on independent empirical evidence, turns around the predicted rate of return differentials in favor of rich countries. Hence, the world economy may converge to a rather unequal distribution of incomes as long as human capital accumulation is neglected as the key variable limiting economic development.     

工程项目计划管理系统设计与实现

本文通过研究分析工程项目管理的具体运行过程,采用结构化分析方法对工程项目组织机构、业务活动进行了详细的系统分析,建立了工程项目计划管理系统基本数据库,具体实现了工程项目计划管理系统的各功能模块,提出运用计算机辅助决策技术开发工程项目计划管理系统的必要性和可行性.     

Price rigidities and institutional variations in markets with posted prices

Summary Standard laboratory posted-offer markets respond slowly and incompletely to demand shocks. In these one-sided markets, where sellers control the setting of prices, very little information is transmitted via the process of exchange. For this reason, traders have trouble distinguishing randomness in their own experience from changes in market fundamentals. This paper reports the results of twelve laboratory markets conducted to assess whether some common variants to standard posted-offer rules can correct the adjustment deficiences. Although discounting, multiple postings and excess demand information all improve performance, we find that response remains poor, and efficiencies low.Support for this research was provided by the National Science Foundation (SBR 9319842 and SBR 9320044), and the University of Virginia Bankard Fund. Data are archived at FTP address: fido.econlab.arizona.edu. We wish to thank Charles Plott and Shyam Sunder for useful comments on an earlier draft of this paper. The usual disclaimer applies.     

Ambiguity aversion and the absence of wage indexation

This paper analyzes optimal wage contracting assuming agents are not subjective expected utility maximizers but are, instead, ambiguity (or uncertainty) averse decision makers who maximize Choquet expected utility. We show that such agents will choose not to include any indexation coverage in their wage contracts even when inflation is uncertain, unless the perceived inflation uncertainty is high enough. Significantly, the exercise does not presume any exogenous costs (e.g., transactions costs) of including indexation links.