General existence of competitive equilibrium in the growth model with an endogenous labor–leisure choice

We prove the existence of competitive equilibrium in the canonical optimal growth model with elastic labor supply under general conditions. In this model, strong conditions to rule out corner solutions are often not well justified. We show using a separation argument that there exist Lagrange multipliers that can be viewed as a system of competitive prices. Neither Inada conditions, nor strict concavity, nor homogeneity, nor differentiability are required for existence of a competitive equilibrium. Thus, we cover important specifications used in the macroeconomics literature for which existence of a competitive equilibrium is not well understood. We give examples to illustrate the violation of the conditions used in earlier existence results but where a competitive equilibrium can be shown to exist following the approach in this paper.     

GRADING JOURNALS IN ECONOMICS: THE ABCS OF THE ABDC

Many institutions and governments grade academic journals for the evaluation of research. In this paper, we implement a multi-bibliometric methodology for the evaluation of such a list of journal grades. We examine the grades assigned by the Australian Business Deans Council (ABDC) for over 750 journals in the fields of economics and statistics. Firstly, we generate up to 48 bibliometric-based grades for each journal based on the grade distribution implied by the ABDC. Secondly, we categorize the bibliometrics employing a cluster analysis of an interrater agreement statistic. Thirdly, we present a visualization of the consistency of the grading by journal. Finally, we list those journals where the majority of the matched bibliometrics indicate a higher or lower grade than their ABDC grade.     

Analyst coverage and lawsuit risk

In this study, we use a unique, hand-collected dataset of employee lawsuits and study the impact of analyst coverage on labour relations. We find that an increase in analyst coverage lowers the work-related litigations. In addition, we show that an increased number of analysts lowers the litigation cost, measured by settlement fees and attorney fees. Our results suggest analysts have an important impact on employee relations. Our research enriches the literature on employment practices and analyst coverage.     

农机补贴的收入分配效应：效率、公平，抑或兼而有之*

农机补贴是具有门槛效应的效率增益政策，通常效率与公平如鱼和熊掌不可兼得。本文通过理论模型分析了农机补贴对农业生产及农村劳动力转移的影响；并通过工具变量法和中介变量法研究了农机补贴的收入分配效应及其作用机制。研究发现，农机补贴显著降低了农户收入的基尼系数，提高了收入分配公平性；其作用机制是农机补贴提升了农业生产效率，促进了农村劳动力转移，提高了打工收入，尤其是相对贫困农户，溢出效应对冲了门槛效应，使得农机补贴的收入分配效应兼具了效率和公平。     

Potential Spatial Labor and Human Capital Mobility in China: Evidence from College Admissions Under the National College Entrance Examination System

Abstract:

Higher education in China plays an important role in promoting labor and human capital mobility. In this paper, I empirically address the issue of regional disparities, college admissions under the National College Entrance Examination (CEE) system, and potential interregional labor and human capital mobility in China. The results show that examinees from western provinces have a strong preference for coastal universities, compared with examinees from central provinces. College admissions in China then seem to have a stronger effect on potential labor and human capital movement from the western to the coastal regions than from the central to the coastal regions.     

Upper‐echelon executive human capital and compensation: Generalist vs specialist skills

This study extends current knowledge of upper echelon executive compensation beyond the CEO, specifically CFO compensation, based on whether they possess generalist or specialist skills. We find that “strategic” CFOs with an elite MBA (generalist) consistently command a compensation premium, while “accounting” CFOs (specialist) and CFOs with a non‐MBA master's degree, even from an elite institution, do not. Further, scarce “strategic” CFOs are awarded both higher salaries and higher equity‐based compensation. Our findings support the view that unique complementarities between scarce CFOs and firms increase these executives' bargaining power leading to pay premium. Our results are robust to post‐hiring years, firm sizes, board characteristics, and CFO's insider/outsider status. We contribute at the confluence of upper‐echelon compensation, executive human capital, resource‐based view, and assortative matching literatures. Copyright © 2014 John Wiley & Sons, Ltd.     

The roles of land tenure reforms and land markets in the context of population growth and land use intensification in Africa

This article reviews the past and potential future roles of land tenure reforms and land markets in Sub-Saharan Africa (SSA) as responses to population growth in the process of land use intensification and livelihood transformation. The farm size distribution and the existence of an inverse relationship (IR) between farm size and land productivity in SSA and the implications of this relationship for efficiency and equity are investigated. More secure property rights and removal of restrictions on land markets have the potential to create both efficiency and equity benefits, but there are high risks of elite capture of large land areas with inefficient and inequitable outcomes. This situation is the case not only in land-abundant areas but also in urban and peri-urban areas where increasingly larger proportions of people will make their living. Increasing population pressure in densely populated rural areas contributes to more rapid rural–urban migration, and creating alternative livelihood opportunities for the migrating youth population is essential to achieving economic development with social stability.     

供需结构优化、分配结构演化与2035年共同富裕目标展望

共同富裕是社会主义的本质要求,中国推动经济社会发展,归根结底是要实现全体人民共同富裕。新发展阶段下中国既要优化供需结构以加快构建新发展格局,又要改善分配结构以全面贯彻新发展理念,而供需结构优化与分配结构演化又是紧密关联的。本文建立了一个包含供给结构、需求结构和分配结构的多部门动态一般均衡模型,将分配结构演化分解到供给结构与需求结构转型上,提出了需求结构通过影响供给结构进而影响分配结构的理论机制。本文对近三十年全球四十余个经济体劳动收入份额和技能溢价的演化进行了发展核算,展示了中国分配结构演化的特征事实、供需动因与国际比较。研究发现,中国分配结构演化道路具有一定的特殊性:一方面,劳动收入份额转为上升,供给侧(需求侧)最主要的推动力是持续提高的劳动密集型产业(消费品)的劳动密集程度;另一方面,技能溢价不断扩大,供给侧(需求侧)最主要的推动力是持续提高的产业内部(消费品)的技能密集程度;供需结构转型在其中也发挥了重要作用。本文还基于历史趋势定量预测了未来中国分配结构的演化趋势,为实现2035年共同富裕目标提供了现实依据与政策参考。     

马克思劳资关系理论视域下的我国私营企业劳资关系问题研究

私营企业的劳资关系在我国的社会经济关系中占有重要地位。马克思的劳资关系理论对于研究我国私营企业劳资关系问题有着重要的指导意义。在我国的私营企业中,生产资料归私营企业主所有,我国的私营企业还是以雇佣劳动为基础的生产活动。因此,我国现阶段私营企业劳资关系实质上是资本对劳动的占有和资本对劳动的强制。由于我国的私营企业是在社会主义初级阶段产生的,因此私营企业劳资关系又呈现出一些新特征。私营企业中资本占有劳动具有双重属性,私营企业中资本对劳动强制不会发展为社会的强制,私营企业主与工人之间是具有中国特色的人与人之间的关系,这为我们研究私营企业劳资关系的和谐性与对立性提供了理论基础。