社会资本能否抑制僵尸企业的创新挤出效应？——基于制造业上市公司的经验证据

以制造业上市公司为样本，探讨社会资本能否抑制僵尸企业对健康企业创新的挤出效应。结果显示：僵尸企业每增加1%，健康企业的发明专利数降低0.41%。僵尸企业的创新挤出效应大部分由非国有企业承担，国有企业的创新并未受到影响。健康企业通过积累不同类型的社会资本来抑制僵尸企业对其创新造成的挤出效应。非国有健康企业的连结型社会资本对创新挤出效应的抑制作用最强，结合型社会资本的作用次之，桥接型社会资本的作用最小。     

On the heterogeneous short‐term effects of minimum wages on labor demand

A strand of the literature documents no effects or even positive effects of a higher minimum wage on employment. This evidence is frequently linked to the existence of monopsonistic labor markets or search frictions. However, empirical studies show that these findings could be related to a low short‐term minimum wage–employment elasticity in a competitive labor market. We show that mixed theoretical employment effects of a minimum wage policy can be predicted in the short term in assignment economies with price‐taker agents and no search frictions.     

Equity and the environment: An application of the Berliant–Strauss vertical and horizontal equity framework to measuring the distributional effects of air quality regulation

The distributional effects of a major air regulation in the United State in 2015 were analyzed using Berliant and Strauss Index Numbers, a set of theoretical and empirical equity metrics, and reduced‐form models that estimate the mortality effects of air pollutant emissions and their source contributions. By viewing the effects of pollution on human mortality as an implicit tax, we found progressivity in 54% to 56% of vertical comparisons and inequity in 92% to 94% of horizontal comparisons. The introduction of the proposed policy made 58% of vertical comparisons more progressive and was equitable to 70% of horizontal comparisons.     

On the rebound: estimating direct rebound effects for Australian households

Reducing dependence on fossil fuels by decreasing energy consumption is a common environmental policy. One mechanism used to achieve this is to encourage increased energy efficiency. However, improving efficiency may have an opposing effect and cause an increase in energy consumption if the intensity of use changes. This phenomenon is known as the rebound effect. We estimate direct rebound effects for energy use in Australia based on both aggregate residential energy use data and on household energy expenditure data. Our approach implements a new methodology developed by Hunt and Ryan (2014, Catching on the rebound: Why price elasticities are generally inappropriate measures of rebound effects. Surrey Energy Economics Discussion Paper Series SEEDS 148; 2015, Energy Economics 50, 273) that explicitly relates energy service use with energy source demand and directly incorporates measures of efficiency changes. The results indicate that the rebound effect is relatively high for energy use by Australian households. Due to the unique nature of our household data set, we can examine the influence of demographic and housing characteristics. We find that low‐income households and households with vulnerable members have the largest rebound effects. The relatively large rebound effects found here suggest that consumers gain from efficiency by improved energy services, and thus, policy targeting energy efficiency is not likely to be successful at reducing energy consumption.     

CHILD CARE PRICES AND MATERNAL EMPLOYMENT: A META‐ANALYSIS

The literature estimates for labor force participation elasticity with regard to child care prices are extensive and varying. While some estimates imply substantial gains from child care subsidies, others find insignificant effects. To determine the causes of the variance, this paper reviews and analyzes the elasticity sizes using estimates from 36 peer‐reviewed articles and working papers in the literature. We start by reviewing the theoretical and empirical aspects related to participation elasticity with regard to child care costs, paying special attention to sample characteristics, methodological aspects, and macro level factors. We conclude by providing a meta‐regression using control variables based on our review of the literature to explain some of the differences between the estimates. As research builds on and improves the methods and assumptions in prior works, elasticity estimates have become smaller over time. This decline might also be partially explained by changes in labor market characteristics. In countries with high rates of part‐time work and very high or very low rates of female labor force participation, we find elasticity rates to be smaller.     

Dynamics of capital account and current account in Sri Lanka

This paper enquires the dynamics of current account and capital account in Sri Lanka for the period 2001:Q1 to 2016:Q1 and also examines the role of some policy variables such as exchange rate and interest rate in this dynamics. Estimated autoregressive distributed lag (ARDL) bound testing approach to cointegration followed by error correction representation of the ARDL model have found that current account is caused by capital account and exchange rate, where capital account causes to produce a deficit in current account. In the dynamic adjustment of current account due to exchange rate, an evidence of J-curve phenomenon is noticed. Capital account is neither caused by current account nor by exchange rate but interest rate has a positive impact on it. Robustness of these findings is testified by the vector autoregression model, Wald test of Granger causality followed by an impulse response analysis and a variance decomposition analysis. These analyses, in addition, establish a negative impact of interest rate on current account. With the best of knowledge this is the first study that reveals the dynamics of current and capital account of Sri Lanka. Such a dynamics is critical from the policy perspective. Policy makers should caution before capital account liberalization.     

Technological leadership and sectorial employment growth: A spatial econometric analysis for U.S. counties

This paper studies the determinants of technological catch‐up considering spatial and sectoral aggregation of industries. We investigate how geographical and technological proximity to the technology leader impact regional employment growth. We model technological progress by means of a hierarchical process of catch‐up to the technology leader. We also incorporate measures for knowledge spillover effects to test the roles of competition, specialisation, and diversity at the industry level. Empirical results using data at the county level for different economic sectors (2‐dig NAICS) for the United States indicate that human capital plays a crucial role in promoting sectoral employment growth. The association between technological/geographical distance to the technology leader and employment growth varies across sectors.     

Perseverance and suspense in tug-of-war

We study a tug-of-war game between two players using the lottery contest success function (CSF) and a quadratic cost (of effort) function. We construct a pure strategy symmetric Markov perfect equilibrium of this game, show that it is unique, and provide closed-form solutions for equilibrium strategies and values. In stark contrast to a model of tug-of-war with an all-pay auction CSF, players exert positive efforts until the very last battle in this equilibrium. We deliver a set of empirically appealing results on effort dynamics.     

老龄化与碳排放：消费效应还是生产效应？——基于2002-2017年中国省级面板数据的实证研究

人口老龄化是经济增长的一大阻碍,它对碳排放的影响是做出环境政策抉择的关键因素.以中国2002—2017年的省级面板数据为研究样本,从理论与实证两个层面分析人口老龄化与碳排放的关系及影响机制.一方面,构建包含碳排放的世代交叠模型(overlapping generations,OLG),发现老龄化主要通过消费效应和生产效应两个路径对碳排放产生影响;另一方面,从实证层面发现老龄化与碳排放之间存在倒"U"形关系,而且消费效应在人口老龄化与碳排放的关系中起到部分中介作用,生产效应的影响则不显著.