The Distribution of Wealth: What Is It,What Does It Mean,and Is It Important?

This paper summarises the available evidence on the present-day distribution of wealth in Australia, and draws comparison with international evidence. With this as background, I argue that an initiative to collect more up-to-date information on Australia's wealth distribution would be most useful if it focused on the least wealthy 90 to 95 per cent of the population, even though this group probably owns not more than half the nation's wealth.     

是我，还是风？

这部书讲述的虽然只是一个家庭在几十年间兴衰升沉的历史,可如同佛家所说的,一粒微尘,可见大千。它也曲折地映现出一部中国的社会史,既包括了不同阶层的家庭及其子女的生活样态,也有从城市到乡村底层贫民挣扎谋生的艰辛实录,展现了纷繁多样的时代画面。比起那些用宏大叙事写就的正史来,这也是社会记忆中一个不可缺少的章节。     

Having It All? Employment,Earnings, and Children*

We study the effect of family policies on female employment, fertility, and the gender wage gap. We develop a life‐cycle model of heterogeneous households featuring endogenous labor supply, human capital accumulation, fertility, and home production. Our results suggest that human capital accumulation is important in accounting for the widening of the gender wage gap following children. We find that, in aggregate, childcare subsidies promote maternal employment and fertility, although the effects are heterogeneous across couples. A subsidy on home goods increases female employment, but primarily later in life. Thus, it does not dampen the widening of the gender gap.     

如何应对创新大国:中国

中国刚刚取得一项举世瞩目的具有里程碑意义的成就:它已建成世界上最快的超级计算机——天河-1A号。该计算机比设在美国田纳西州橡树岭国家实验室的卫冕冠军快40%。这不是一个孤立的事件。多年来,其他能够反映中国科技能力在不断上升的常见指标,一直在不断涌现,比如,在世界领先的化学和物理学杂志上,来自中国的论文所占的比例在不断增加。     

For Central Banks,A Chance to Get It Wrong北大核心CSSCISSCI

Among central bankers,there is agreement on the recipe for restoring stable,steady global growth.Step1:Emerging-market central banks raise rates enough to put a lid on inflation.Thatsupposedly prevents price pressures from spreading to the U.S.     

ST数码谁的快乐谁的痛？

在新年伊始的第一个交易日,“ST”数码最低探到1．02元／股,最后以1．04元／股报收,差点步入“仙股”行列。而之前证监会已于2004年9月对ST数码的董事长等三人进行市场禁入和罚款,煤航重组下的百隆集团业绩大幅滑坡,逐渐露出原形。“ST”数码到底怎么了?煤航的入主给当时的百隆集团究竟带来了什么?     

金融改革的决定和影响因素

本文运用重新构建的金融自由化指数,解析了20世纪最后25年全球范围内金融改革的决定和影响因素。论文认为,国际收支危机触发了金融改革,银行危机使金融改革倒退;全球利率降低增强了改革者的信心,新政府履任则具有双重影响;意识形态和国家结构对改革的影响有限。     

沿着时间的足迹行走152年

2006年2月17日，纽约，爱尔兰风格的古老酒吧McSorley＇s Old Ale House庆祝它的152多生日。这个位于纽约第七大街东部的传奇酒吧．可称得上纽约最古老的酒吧。     

Low Wage Growth: Why It Matters and How to Fix It

Neoclassical economic theory and its supply‐side account of the drivers of economic growth has been influential amongst Australian economic policymakers and advisors. In the post‐Keynesian tradition, we argue instead that aggregate demand drives economic growth, even in the medium term. In particular, the investment and innovation that depends upon that investment are mainly determined by the investment response to consumer demand. Currently, weak wages growth in Australia is weakening that consumer demand. The paper examines the causes of weak wages growth and offers solutions.     

How Did It Happen?

This paper discusses the factors that led up to the stock price bubble of the 1990s. Foremost among these, it is argued, was the conventional view that stocks are the investment of choice for the long-run investor regardless of their price. This conventional view was based on a misunderstanding of academic theories developed over the past half century. Additional factors were the changing nature of US pensions which placed much more responsibility on the shoulders of the individual investor, and agency problems in investment management and the production of information about firm profitability. Finally there is some evidence that required rates of return were declining during this period.
(J.E.L.: G10 and G23).     

产业集聚的区位效应及其对欠发达区域的启示

研究产业集聚,对于欠发达区域培育产业集群,对于缩小欠发达区域与发达区域的差距,实现区域经济协调发展,具有重要意义。根据经济区位理论,产业集聚是区域的区位条件与企业的区位因子藕合作用产生区位效应的结果,我国产业集聚的区位效应包括生产成本效应、衍生或孵化效应、交易成本效应、诱导效应和循环累积因果效应,与此相对应,产业集聚区域在资源禀赋、历史积淀、制度环境和交易条件等方面必然具备某种或某几种优势。从产业集聚的区位效应出发,欠发达区域培育产业集群关键在于确定集群区位和创造适宜的区位条件。     

It is Hobbes, not Rousseau: an experiment on voting and redistribution

We perform an experiment which provides a laboratory replica of some important features of the welfare state. In the experiment, all individuals in a group decide whether to make a costly effort, which produces a random (independent) outcome for each one of them. The group members then vote on whether to redistribute the resulting and commonly known total sum of earnings equally amongst themselves. This game has two equilibria, if played once. In one of them, all players make effort and there is little redistribution. In the other one, there is no effort and nothing to redistribute. A solution to the repeated game allows for redistribution and high effort, sustained by the threat to revert to the worst of these equilibria. Our results show that redistribution with high effort is not sustainable. The main reason for the absence of redistribution is that rich agents do not act differently depending on whether the poor have worked hard or not. The equilibrium in which redistribution may be sustained by the threat of punishing the poor if they do not exert effort is not observed in the experiment. Thus, the explanation of the behavior of the subjects lies in Hobbes, not in Rousseau.     

保护市场的联邦主义及其批判

本文首先梳理了保护市场的联邦主义(MPF)的分析框架及其贡献。但本文的重点在于系统地批判MPF理论框架的缺陷根源于其借助的新古典经济学的竞争理论和经典代理理论,且简单地将政府组织类比为企业。这就导致MPF缺乏地方政府关于制度供给的政治微观基础;难以全面地理解中央政府在整个国家政治经济生活中的作用;忽视了分权有效的必要条件;难以分析分权的负效应,进而无法分析最优的政府间分权、政府层级和分权路径等重大问题。结果,至今为止MPF还远没有解决何种制度安排下政治官员们才有积极性执行保护市场的承诺。我们提出可以改进现有研究的一些思路。