Income and substitution effects of fiscal policy on work effort

The focus of this paper is twofold. First, it examines the impact on work effort of changes in government purchases financed with lump‐sum taxes, in a neoclassical framework, with respect to four industrialised countries. Second, it reconsiders the expenditure–work effort relationship in a broader conceptual context that allows for distortionary taxation and a disaggregation of the income and substitution effects. Our findings are shown to cast doubt on the empirical plausibility of the prevailing (neoclassical and New Keynesian) models which seem to rely heavily on the lump‐sum tax notion, thus ignoring the substitution effects of distortionary taxation.     

网上自主学习在高校教学改革中应用研究

网上自主学习模式是高校教学改革的有效方式之一，对网上自主学习的方式、效果、利弊及适用人群进行探讨。以科技论文写作知识的学习为例，建立网上自主学习的平台，制作专题学习网站，在石家庄铁道学院的研究生中进行试验教学，对网上自主学习模式的学习效果和认可程度进行分析，得出结论：网上自主学习是可行的，必要的，有助于提高学生自主学习能力，适用于大学高年级及研究生等自控能力和自学能力强的群体，应有针对性地积极落实实施，取得满意的教学效果。     

资产专用性与交易成本节约——论企业是信用的载体

企业的功能不仅在于节约要素(中间品)交易成本,是要素的"间接定价装置",还在于节约最终产品交易成本.信息不对称的产品市场上,企业在交易中"制造"了一个重复博弈机制,这使其更关心长远利益.它用自身专用性资产--从价值和数量两个维度--来作为其产品是合格品的担保.专用性资产单位价值越大,数量越多,企业越有谋求长远利益、放弃短期机会主义行为的激励.市场上理性的买方考虑到这一点,总是认为效益越好、规模越大的企业越有可能提供合格品.企业是信用的载体,它一定程度上避免了产品市场由于信息不对称所引致的逆向选择,从而节约最终产品交易成本.我们的分析补充和完善了企业的交易成本理论.     

状态方程计算高分子共混物的比体积

基于一个简单的非均核链流体分子热力学模型,采用不同形式的微扰项,可构筑不同形式的高分子共混物系统的状态方程。方程已被应用于关联聚苯乙烯/聚2,6-二甲基苯醚(PS/PPO)、聚苯乙烯/聚乙烯甲醚(PS/PVME)、聚苯乙烯/聚丁二烯(PS/PBD)、聚醚砜/聚氧乙烯(PESP/PEO)等高分子共混物的比体积。结果显示,用一个与温度无关的二元相互作用可调参数可满意关联所选体系的比体积,并可预测所选体系的比体积。     

Predicting uncertainty: the impact of risk measurement on value of real estate portfolios

This paper presents a theoretical framework for an assessment and valuation of real estate assets and funds, based on modern stochastic discounted cash flow (DCF) models, which accurately captures the nature of related risks. We show that an accurate risk-adjusted valuation is particularly difficult for real estate investments, due to practical limits to diversification and difficulties in approximating total risk with systematic risk. We develop a risk assessment framework that includes idiosyncratic risk but focuses on insolvency risk related to a specific cash flow profile. We also present a methodology of rating this risk, using forecasts and simulations. We conclude that simulation techniques are a valuable tool in property risk assessment. Further, we show that cost of capital and value of assets depend on diversification of specific risks, investors can achieve in their portfolios.     

Migration,Unemployment, and Skill Downgrading

In this paper, we analyze the labor market impacts of immigration under flexible and rigid labor market regimes. A general equilibrium framework is developed, accounting for skill heterogeneity and labor market frictions, where unemployed medium‐skilled manufacturing workers are downgraded into low‐skilled service jobs, while low‐skilled service workers might end up unemployed. The analytical analysis shows that medium‐skill immigration decreases low‐skilled unemployment under the flexible regime, indicating a complementarity effect, while the rigid regime induces a substitution effect, leading to low‐skilled unemployment. Moreover, it leads to wage polarization. In a numerical analysis, the economic effects of different migration scenarios are quantified.     

FDI in Sub-Saharan Africa: A longitudinal perspective on location-specific factors (2003–2010)

This paper examines the characteristics of Location Specific Factors (LSFs) in Sub-Saharan Africa (SSA) regarding inward Foreign Direct Investment (FDI) by Multinational Enterprises (MNEs). Exploratory Factor Analysis (EFA) of 758 MNEs in 2003, 1216 in 2005 and 2402 in 2010 is used to compare the variability in LSFs in ten, 15 and 19 SSA countries respectively. We find firstly the most powerful factors, influencing the political-economy and trade dynamics of hosts to FDI, stable over time. Secondly, by 2010, production inputs become the most important factor for FDI followed by political-economic stability. This result reflects findings in International Business (IB) literature. Policy implications point to unwavering need by SSA to reduce transaction costs for FDI; increase the predictability of the policy environment; and increase the productivity-adjusted cost efficiency of inputs.     

Inter-industry labor reallocation and task distance

This paper investigates factors preventing inter-industry labor reallocation by estimating the determinants of inter-industry worker flow and earnings change after a job change. We find that the difference in required tasks is an important reason for earnings reduction after an inter-industry job change, and thus, workers may hesitate to move to industries requiring a different set of tasks for fear of losing the wage premium acquired by task-specific human capital. In addition, more workers switch to industries with which their previous industry had larger transactions, although it affects earnings changes only marginally. On the other hand, industry performance does not affect labor inflow or wage changes significantly for inter-industry job changes. Young men, less educated women, and those quitting previous jobs for family or health reasons are more likely to move to industries requiring a different set of tasks, and young individuals who lost their jobs involuntarily are less likely to do so. Individuals more likely to move are not necessarily those whose earnings loss associated with the move is small: earning losses associated with task distance are relatively small among younger and less educated workers and are uncorrelated with the reasons for quitting the previous job.     

EMNEs venturing into advanced economies: Findings from comparative cases of two Indian MNEs

Indian firms are challenged by the latecomer disadvantages faced by emerging‐market multinational enterprises (EMNEs) in general. These challenges notwithstanding, Indian firms are doing cross‐border acquisitions (CBAs) in developed regions. Analyzing firm‐level secondary data of two Indian MNEs—namely, Motherson Sumi Systems Limited and Rain Industries Limited—that show significant developed region–based revenues and assets, we link extant and emerging theoretical perspectives on EMNEs’ internationalization with the observed firm motives and behaviors of our case firms. We propose a framework of multiple contextual settings to understand the context‐driven internationalization of the case firms. Finally, our article offers a set of propositions emphasizing firm‐level entrepreneurial orientation and international orientation, when EMNEs internationalize via CBAs in developed regions. © 2017 Wiley Periodicals, Inc.     

专用性人力资本与三项贴水关联性研究

人力资本按专用性程度分为专用性人力资本、普通专用性人力资本和非专用性人力资本,员工的贴水可以分为收入贴水、品牌（信誉）贴水和情感贴水。通过揭示专用性人力资本和三项贴水的内在关联性,将两者进行深化匹配,在此基础上有助于给出组织运行机制的合理设计。