Growth,Distribution, and External Constraints: A Post-Kaleckian Model Applied to Brazil

ABSTRACT

The purpose of this research is to analyze whether the Brazilian economy behaved under a wage-led or profit-led regime between 1960 and 2011, considering a Post-Kaleckian model in a context of external constraints. The time span is limited by data availability (i.e., 2011). To answer the question of whether the Brazilian economy works under a wage-led or profit-led regime, we propose a simple Post-Kaleckian model. The model suggests that a profit-led regime is more probable for Brazil. Moreover, a wage-led regime occurs when a balance of payments constrained growth model is taken into consideration. Likewise, the real exchange rate has a positive impact on economic growth through the export channel. This result is a novelty in the recent literature about the relationship between real exchange rate and economic growth within a Post-Kaleckian model. The Brazilian economy was chosen as it is one of the biggest economies in Latin America.     

Does china income FSDs follow Benford? A comparison between Chinese income first significant digit distribution with Benford distribution

Since Benford’s law is an empirical phenomenon that occurs in a range of data sets, this raises the question as to whether or not the same thing might be true in terms of the Chinese income distribution data. We focus on the first significant digit (FSD) distribution of Chinese micro income data from the 2005 Inter-Census sample, which corresponds to 1% of Chinese population and other micro income data from the China family panel studies (CFPS) and Chinese General Social Survey (CGSS). We use information theoretic-entropy based methods to investigate the degree to which Benford’s FSD law is consistent with the FSD of Chinese income data and our findings suggest consistency between the Chinese FSD income distribution and Benford’s distribution. The close connection between the two distributions has implications for the quality of the sample of Chinese micro data.     

土地复垦监管行为规范的主体性合作治理形式选择

研究目的:根据相关主体性意愿的指引,阐明合作治理范式在土地复垦监管行为领域展开具体运用的现实性,及其可能的规范设定方向,进而尝试在相应行为规范维度来检视行政行为法理论的发展任务命题。研究方法:文献分析法。研究结果:土地复垦监管行为的形式选择往往与相应的合作治理主体性意愿有关,该意愿主要表征为利益导向、工具载体以及协同组织选择意愿。应厘清该类选择意愿指引于土地复垦监管行为规范所分别呈现的形式选择:逐利心态与信任习惯选择、科学事实工具与行政规制工具选择、内部协同组织与外部协同组织选择。研究结论:土地复垦监管行为在行为观念和当事人方面与合作治理的主体性意愿在一定程度上是相互耦合的,有必要构建一种合作行政模式下的治理型土地复垦监管行为规范。     

服务业内部结构异质性演化与行业发展差距研究——基于全要素生产率视角下的分析

基于1990—2017年行业面板数据，采用超越对数生产函数对服务业各细分行业TFP增长率进行分解和测度，揭示我国服务业内部结构生产率演化进程及其异质性现象，并采用可导性对数方差分解法、VAR协整模型和误差修正模型（VECM）考察TFP及其构成部分对服务业行业发展差距的贡献度，评估其异质性作用于行业发展差距的长短期效应。研究发现，在服务业内部结构演化过程中，TFP、技术进步和技术效率改进呈逐步下降趋势，其中技术进步是推动TFP增长的核心，规模效率改进发展水平一直滞后，配置效率改进在服务业发展初期较为滞后，但水平逐步提升；生产性和生活性服务业行业间TFP及构成部分异质性在演化过程中呈下降趋势，且生活性服务业行业间异质性程度要小于生产性服务业，行业间异质性变化幅度最大的是规模效率改进，技术效率改进异质性波动程度最小；TFP异质性是造成行业间发展差距扩大的主要原因，其中技术效率改进是主导因素，且该效应的发挥只有在长期具有显著性。     

土壤污染防治法背景下的城乡绿地系统建设：趋势与对策

《中华人民共和国土壤污染防治法》的颁布标志着中国将形成完善的土壤污染防治法律体系，建立从污染土壤调查、修复、风险防控、监测到场地再利用，从环境标准到规划管理的全方位制度。生态文明制度建设的宏观背景，再加上中国土壤污染严重、规模大、修复难、成本高、周期长等特征，将导致大量污染场地转变为绿地或生态用地，最终对绿地系统的数量与规模、布局与功能、规划与管理、环境质量标准等多个维度产生实质性影响。分析这一趋势，对其影响提出预判，最终提出对策建议。     

The effects of credit default swaps on corporate investment

ABSTRACT

This paper examines how credit default swaps (CDS) affect the corporate investment of the referenced entities. We document a significant reduction in corporate investment after CDS trading, a result that is robust to alternative model specifications and a set of endogeneity tests. Our findings of the increased firm risk and cost of capital support the costly external capital channel. The cross-sectional variations in CDS effects demonstrate that both reduced monitoring and the empty creditor problem might be the underlying forces driving the costly external capital channel. Our additional analysis implies that CDS trading is associated with an enhancement in investment efficiency for firms that are prone to overinvestment.     

实际控制人控股多家上市公司与超额在职消费

文章基于委托代理理论，从实际控制人监督职能角度，研究实际控制人同时控股多家上市公司，对管理者超额在职消费的影响。研究发现，当上市公司所属实际控制人同时控股多家上市公司时，其超额在职消费水平显著高于其它上市公司。进一步研究表明，产权性质和外部治理环境能够对二者关系产生显著影响：民营企业和分析师关注度较高企业，控股多家上市公司对其超额在职消费不存在显著影响；媒体监督较高企业和十八大之后，控股多家上市公司对其超额在职消费的促进作用受到显著抑制。文章研究不仅丰富了实际控制人监督和超额在职消费领域的相关文献，同时对实际控制人如何有效治理公司具有重要的实践意义。     

Hours underemployment and employee turnover: the moderating role of human resource practices

Using Canadian nationally representative, multisource longitudinal data, this paper examines relationships between hours underemployment, employee turnover and human resource practices. The results of hierarchical linear models indicate that underemployed employees are more likely to leave an organisation that relies heavily on part-time workers, whereas they are more likely to stay when their employers hire regularly from within the company. These findings extend the literature on hours underemployment from individual-level direct effects to organisational-level moderating factors, and accordingly, they provide empirical evidence that human resource professionals can use to address the detrimental effects of underemployment.     

三维视角下农民土地财产权的实现

研究目的:从时间性、社会性、空间性三维解读农民土地财产权的基本特征,进而探究其实现路径。研究方法:规范分析法、文献研究法。研究结果:(1)农民土地财产权由国家配置,呈现出开放性结构;(2)农民土地财产权本质上具有关系性,负有社会功能;(3)农民土地财产权受土地属性限制,在个人自治与公共利益互动平衡中动态发展。研究结论:农民土地财产权需要双重实现,公法上可以从基本权利的功能入手限定国家干预范围;私法上确立其独立民事权利地位,并借助集体成员概念明确成员权利和成员义务。     

Narco‐frontiers: A spatial framework for drug‐fuelled accumulation

Based on historical and ethnographic research conducted in a region of northwest Colombia and drawing on the stories of novelist Gabriel García Márquez, this article develops the analytical concept of “narco‐frontiers” to help disentangle the confusing political economy of agrarian spaces affected by the violence of the drug war. As socially produced spaces, narco‐frontiers emerge through the convergence of four interlocking processes: uneven development, internal colonialism, political violence, and narco‐fuelled dispossession. Although often depicted as “ungovernable” or “stateless” spaces, narco‐frontiers are wracked by extra‐legal regimes of rule in which the state is simply one actor among others. With the drug trade inducing violent agrarian change all over the world—from Colombia to Afghanistan, Burma to Central America—this article offers a spatial‐historical framework for understanding these dramatic transformations.