HOW TO MEASURE LABOUR MARKET EFFECTS OF IMMIGRATION: A REVIEW

Abstract.  This paper surveys available empirical evidence on labour market effects of immigration. Many different approaches have been used already to try to find out whether immigration hurts the labour market opportunities of natives. No doubt new approaches will follow in the future as globalization will keep the migration issue on the agenda. This literature review discusses the different approaches concentrating on both the methodology and the results. At the end, it tries to summarize available evidence.     

Social exclusion and labour market transitions: a multi-state multi-spell analysis using the BHPS

In this empirical paper, we assess how social exclusion arises in the context of labour market transition behaviour. We estimate a multi-state multi-spell competing risks model and identify five states: high skilled employment, intermediate skilled employment, low skilled employment, unemployment and out-of-the-labour market. Using data from the first seven waves of the British Household Panel Survey, we show that a substantial number of workers were trapped in a vicious circle of low-skilled employment, unemployment and inactivity in the 1990s. Workers who are part of the so-called flexible workforce are more likely to suffer social exclusion.     

Immigration and occupational status: A study of Bangladeshi and Turkish fathers and sons in the London labour market

This paper examines the labour market experience of 300 fathers and 300 of their sons in the Bangladeshi and Turkish immigrant communities in various London boroughs in 1988. Probit estimates are made in relation to employment and unemployment, self-employment and employment, and upward mobility or lack of it. Human capital regressions are also run for each of the four groups and for the combined sample. The evidence is consistent with distinctive labour market experience among the various groups.     

OFFSHORING, MULTINATIONALS AND LABOUR MARKET: A REVIEW OF THE EMPIRICAL LITERATURE

Abstract.  This paper reviews the empirical literature on the effects of offshoring and foreign activities of multinational enterprises on developed countries' labour markets. Results suggest that material offshoring worsens wage inequality between skilled and unskilled workers; it also seems to make employment more volatile, by raising the elasticity of labour demand and the risk of job losses. Service offshoring exerts at most small negative effects on total employment, and changes the composition of the workforce in favour of high-skilled white-collar employees. Multinationals tend to substitute domestic and foreign labour in response to changes in relative wages across countries; substitutability is weak, however, and mainly driven by horizontal, market-seeking foreign direct investments.     

Are unemployment rates in OECD countries stationary? Evidence from univariate and panel unit root tests

This paper revisits the dynamics of unemployment rate for 29 OECD countries over the period of 1980–2013. Numerous empirical studies of the dynamics of unemployment rate are carried out within a linear framework. However, unemployment rate can show nonlinear behaviour as a result of business cycles or some idiosyncratic factors specific to labour market (Cancelo, 2007). Thus, as a testing strategy, we first perform Harvey, Leybourne, and Xiao (2008) linearity unit root test and then apply the newly ESTAR nonlinear unit root test suggested by Kruse (2011). This test has higher power than conventional unit root tests when time series exhibits nonlinear behaviour. Our empirical findings provide significant evidence in favour of unemployment rate stationarity for 25 countries. For robustness purpose, we have also used panel unit root tests without and with structural breaks. The empirical results show that unemployment hysteresis hypothesis is strongly rejected, when taking into account the cross-sectional and structural break assumptions. Thus, unemployment rate is expected to return back to their natural levels without executing any costly macroeconomic labour market policies by the OECD’s governments.     

物流服务市场供求关系研究

从认识物流服务市场的供求现状出发,使用经济学理论、竞争理论、物流业固有特性三个分析方法进行物流服务市场供求关系研究,对揭示我国物流服务市场的运行规律有一定的引导作用。     

打破垄断促进市场有效竞争

行业性行政垄断的存在,严重阻碍着我国市场化的进程.引进竞争、打破垄断是当前我国继续深化改革、实行全面开放的一项紧迫而又艰巨的任务.我们要按照现代社会经济与公共管理的演进趋势认识垄断问题,并从多方面寻求打破垄断的思路与措施.     

Deregulation and labour earnings: Three motor carrier industries in Japan

We empirically examine the effect of product market deregulation on wages. The difference-in-difference approach is used with wage data from three motor carrier industries (the taxi, bus and trucking industries) in Japan to obtain the following findings. First, deregulations in the 1990s and 2000s caused the relative wages of taxi and bus drivers to decline, but this was not the case for truck drivers. Second, the large decline in the relative wages of taxi drivers can be explained by the deterioration of economic conditions; their wages are more sensitive to labour market conditions than those of drivers in other industries.     

The joint impact of labour policies and the “Great Recession” on unemployment in Europe

The paper consists of an empirical analysis of the separate as well as joint impacts on total and youth unemployment of indicators of labour market policies on the one hand, and the financial crisis associated with the “Great Recession” on the other. In particular, we investigate labour market data in the past two decades for the Enlarged Europe and adopt a variable accounting for the idiosyncratic severity shock of the crisis. This time-varying and country-specific crisis variable enables us to test empirically and in a novel way the joint impact of labour market policies and the economic crisis on labour market dynamics even when accounting for common macro shocks.     

我国审计市场类型分析及其启示

从市场中的“厂商”、“产品”、价格等要素来看,我国目前的审计市场显示为完全竞争市场。而根据福利经济学、信息经济学等对审计市场的分析,寡头垄断市场类型更适合理性的审计市场。结合国际上审计行业发展经验,本文认为,我国的审计市场类型将经历从完全竞争市场到寡头垄断市场的转变过程。在此基础上对市场类型转变过程中政府应给予的政策支持进行了探讨。     

Symposium: Youth labour market and the “Great Recession”

The financial crisis of 2007–2008, followed by the “Great Recession” and the additional sovereign debt crisis in some peripheral countries of the Eurozone, resulted in huge and persistent effects on European youth labour markets. Theoretical and empirical investigations on this topic are still scarce compared with the importance of the topic and the consequent economic, social and policy implications. This paper consists of a very short introduction to a symposium that contributes to filling that gap. A multifaceted picture emerges with major policy implications for the three levels of government (European, national and regional/local) in order to reduce youth unemployment and the NEET phenomenon.     

A Meta‐Analytic Assessment of the Effect of Immigration on Wages

Abstract.  In our increasingly interconnected and open world, international migration is becoming an important socioeconomic phenomenon for many countries. Since the early 1980s, many studies about the impact of immigration on host labour markets have been undertaken. Borjas (2003 , The labor demand curve is downward sloping: reexamining the impact of immigration on the labor market. Quarterly Journal of Economics 118(4): 1335–1374) noted that the estimated effect of immigration on the wage of native workers varies widely from study to study and sometimes even within the same study. In addition, these effects cluster around zero. Such a small effect is a rather surprising outcome, given that in a closed competitive labour market an increase in labour supply may be expected to exert a downward pressure on wages. We revisit this issue by applying meta‐analytic techniques to a set of 18 papers, which altogether generated 348 estimates of the percentage change in the wage of a native worker with respect to a 1 percentage point increase in the ratio of immigrants over native workers. While many studies in our database employ US data, estimates are also obtained from Germany, The Netherlands, France, Norway, Austria, Israel and Australia. Our analysis shows that results vary across countries and are inter alia related to the type of modelling approach. Technical issues such as publication bias and quality of the estimates are addressed as well.     

浅析我国离岸金融市场

离岸金融市场不同于传统金融市场,是现代金融市场的重要组成部分,是一种新兴的、真正意义上的国际金融市场。随着该市场在我国不断的发展,体现出诸多离岸金融市场所特有的特点。我国的离岸金融市场正在积极地筹划和创建中,也因此我国金融业在国际金融界的地位和竞争力得到了进一步的提高。较多的优惠政策和监管的宽松虽然促使我国的离岸金融市场迅速发展,但同时也可能带来巨大的金融风险。随着我国入世过渡期的结束,我国银行业与外资银行的全面竞争展开,越来越多的人关注这种竞争可能带给我国银行业的竞争压力,尤其是在离岸金融市场上的竞争会更加激烈。     

Are the effects of minimum wage on the labour market the same across countries? A meta-analysis spanning a century

The effects of the minimum wage (MW) on the labour market have been studied for almost a century, but the results remain inconsistent. To review what is known until now, a global, multilingual database of 588 articles on MW effects is constructed spanning more than a century, from 1900 to 2020. Most of the studies belong to developed countries, and less than a third come from developing countries. The most researched subject during the period under review is the impact of the MW on employment, but the evidence is mixed independently of the country studied. Consequently, it is only possible to perform a meta-regression to suitably evaluate the impact of the MW on employment according to the number of studies collected on this topic. The meta-regression model is useful to explain the reasons for these differences. For this purpose, recently developed meta-analysis methods are implemented distinguishing between developed and developing countries. To the best of our knowledge, this is the first meta-analysis that reviews articles on the effect of MW without limits on the analysis period, the variables relative to the labour market or the countries under consideration. The results show a negative publication bias for developed countries but not for developing countries. The impact of the MW on employment is negative in both groups, adjusting for that bias. This adverse effect is small but robust. Characteristics related to the control variables, the demographic groups concerned, the methods implemented and the inclusion of local fixed effects, trend or time dummies account for the estimated employment effect. Public policy recommendations are proposed based on the studies reviewed.     

资本市场开放提高了审计费用吗？——基于行业竞争和市场竞争地位的双重调节效应

资本市场开放后,互联互通机制引进了国际资本和先进治理经验,这既增加境内资本市场信息风险水平,亦带来监督效应,审计费用也发生相应变化。基于2010—2019年中国上市公司数据分析发现：在资本市场开放后,上市公司审计费用显著提高;行业竞争程度负向调节资本市场开放对审计费用的正向影响且这一调节作用在高市场竞争地位的公司中更显著,而市场竞争地位负调节效应主要体现在高竞争行业中。结果表明,行业竞争与市场竞争地位会对资本市场开放与审计费用的关系产生双重调节效应,资本市场开放有助于低竞争行业公司和高竞争行业中的低市场竞争地位公司提高审计质量需求。进一步研究表明,资本市场开放后,非国有企业和内控弱有效企业审计费用显著提高。     

我国快递企业市场竞争力比较分析

分析了我国国内快递市场的发展及现状,并对目前我国快递市场主要企业进行介绍,对各市场主体的竞争力进行对比,在分析中国快递业发展存在的主要问题基础上,针对国内快递市场的竞争、现有的竞争者以及影响快递企业竞争力的因素,提出和谐快递、竞争快递、规范快递。