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This study examines changes in Chinese urban income distribution from 1987 to 1996 and 1996 to 2004 using nationwide household data and investigates the causes of these changes. The Firpo, Fortin, and Lemieux (2007, 2009) method based on unconditional quantile regressions is used to decompose changes in income distribution and income inequality measures, such as variance and a 10:90 ratio. The decomposition results show that wage structure effects, such as a widening gender earnings gap, increases in returns to college education, and increases in earnings differentials between industries, company ownership types, and regions, have been the major contributors to the overall increases in income inequality. It was also found that at different points on the income distribution (e.g., the lower or upper half), the contributing factors that increase income inequality are different.  相似文献   

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This paper estimates fiscal policy feedback rules in Japan, the United States, and the United Kingdom for more than a century, allowing for stochastic regime changes. Estimating a Markov-switching model by the Bayesian method, we find the following: First, the Japanese data clearly reject the view that the fiscal policy regime is fixed, i.e., that the Japanese government adopted a Ricardian or a non-Ricardian regime throughout the entire period. Instead, our results indicate a stochastic switch of the debt-GDP ratio between stationary and nonstationary processes, and thus a stochastic switch between Ricardian and non-Ricardian regimes. Second, our simulation exercises using the estimated parameters and transition probabilities do not necessarily reject the possibility that the debt-GDP ratio may be nonstationary even in the long run (i.e., globally nonstationary). Third, the Japanese result is in sharp contrast with the results for the US and the UK which indicate that in these countries the government’s fiscal behavior is consistently characterized by Ricardian policy.  相似文献   

5.
Many recent studies claim that China has reached a Lewisian ‘turning point’ in economic development, signalled by rising wages in urban areas and the exhaustion of rural surplus labour. In this paper we show that despite some evidence of rising nominal urban unskilled wages between 2000 and 2009, there is little in the data to suggest that this wage increase has been caused by unskilled labour shortages. China still has abundant under-employed workers with very low income in the rural sector. We argue that China's unique institutional and policy-induced barriers to migration have both prevented many rural workers from migrating to cities and also reduced the migrants' length of stay. We project that under alternative institutional settings, the migrant stock could easily be doubled from the current 150 million to 300 million by increasing either the average length of migrant stay, or the migrant inflow, or both.  相似文献   

6.
Using a sample of Japanese firms, this paper evaluates the usefulness of the two fundamental products of an accrual accounting system, namely accrual earnings and book value of equity for predicting stock returns. Our analysis shows that both earnings and book value for Japanese firms have the ability to provide for profitable trading strategies or improved portfolio decisions, and that relative to the trading strategy based on earnings or book value alone, the trading strategy based on a combination of both earnings and book value generates substantially higher returns for all cases. This suggests that book value (or earnings) captures certain aspects of equity values that are not captured by earnings (book value). Our multivariate regression results further indicate that the predictive ability of earnings is dominated by that of book value. Finally, it is found that the predictive ability of book value is sensitive to the degree of cross corporate ownership, while it is insensitive to the degree of real estate holding.  相似文献   

7.
This paper deals with socioeconomic differences in adult mortality in southern Sweden 1815–1968, a period of transformation from an agricultural to a modern industrial society and increasing life expectancy. We use longitudinal micro-level data with information on demographic events, household structure and socioeconomic status. The main finding is that the socioeconomic gradient is a very recent phenomenon. While mortality fell in all socioeconomic groups it was not until the 1950s that a socioeconomic gradient appeared, and then only among adults in working ages. For the elderly, we find no significant mortality differentials between various social groups at any time. These results are consistent with the divergence hypothesis, although this process started much later than previously thought, and was not an immediate consequence of industrialization.  相似文献   

8.
This paper deals with the issue of using infant and childhood mortality as an indicator of inequality. The case is that of the United States in the 20th century. Using microdata from the 1900 and 1910 Integrated Public Use Microsamples (IPUMS), published data from the Birth Registration Area in the 1920s, results from a number of surveys, and the Linked Birth & Infant Death Files from the National Center for Health Statistics for 1991, infant and child mortality can be related to such other variables as occupation of father or mother, education of father or mother, family income, race, ethnicity, and residence. The evidence shows that, although there have been large absolute reductions in the level of infant and child mortality rates and also a reduction in the absolute levels of differences across socioeconomic groups, relative inequality has not diminished over the 20th century.  相似文献   

9.
It seems to me likely that entrepreneurship will take a different path in Japan than it has in the U.S. Given the prominence of large organizations in key areas of Japan's economy and the emphasis its society places on lifetime employment relationships, many of the “startups” of the sort that transformed the American business are more likely to happen within existing firms rather than as new enterprises. Such development, called “intrapreneurship” in the U.S. requires new institutional structures and rewards. Such changes will not come easily, because they run against the grain of Japanese society and business culture, yet I believe that success will come to those who can execute such strategies.  相似文献   

10.
Laos has engaged in an ambitious program of economic reforms, the New Economic Mechanism. Yet little attention has been devoted to the impact of the reform process on the functioning of the labour market and to the role of the labour market in mobilizing human resources. The purpose of this paper is to examine the impact of reform policy on the labor market and to show how a better adjustment of the labor market can facilitate the success of the New Economic Mechanism. The purpose of the paper is also to show how a better use of the information generated in the labor market can contribute to transforming the reform process into a process of sustained economic growth in Laos.  相似文献   

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In this paper, we estimate labor responses of Japanese prime-age males by taking into consideration the Japanese income tax system and utilizing a large micro-data set. We employ three maximum likelihood methods: (i) a modified version of [Hausman, 1979] and [Hausman, 1981] , which assumes a linear labor supply function; (ii) that given by Zabalza (1983), which assumes CES preferences; and (iii) that given by Van Soest (1995), which employs the translog utility function and assumes discrete labor hour choice. While the estimates based on the Hausman and Zabalza methods fare poorly, those based on the Van Soest method result in more plausible labor responses. However, these responses are larger than those of the North American and European counterparts.  相似文献   

13.
During the period 1994–1995 the Chinese Economy Research Unit (CERU), University of Adelaide, Australia and the Department of Policy, Reform and Law, Ministry of Agriculture (MoA),1 the People's Republic of China, jointly designed and conducted an annual sample survey of about 1000 farm households in five Chinese provinces: Guangdong, Jilin, Jiangxi, Sichuan and Shandong. The CERU-MoA survey is a part of the ACIAR (Australian Centre for International Agricultural Research) project on China's grain production and marketing during 1994–1996.2 Based on this survey a large database has been established which contains cross-household data on population and labour, land, grain production and marketing, food consumption, income and related policy issues.3  相似文献   

14.
This paper analyzes the causes of the Korean economic crisis from a political-economic perspective. The author points out that the economic causes which had been mentioned often such as overvalued won exchange rate and moral hazard of financial sector and corporate sector, have political origins. If the Korean economic crisis was caused by political economic factors, structural reform of the economy alone is not sufficient for economic recovery. Therefore, this paper argues, the behaviors of politicians, bureaucrats, and interest groups had been influential for resource allocation in the Korean economy. It concludes that the self-interest seeking activities of various interest groups should be properly controlled.  相似文献   

15.
A simple model is presented, where a firm's productivity is endogenized by its R&D investment. It shows that the most productive firms may prefer international outsourcing to foreign direct investment (FDI) in industries with a high innovation share. The high innovation share motivates the firms to economize on organizational cost in order to save resources for R&D investment, making outsourcing preferable to FDI because the former incurs a smaller organizational cost. This model helps explain why Apple Inc., belonging to the electronics industry, which has a particularly high innovation share, launched its innovative iPod through international outsourcing instead of FDI.  相似文献   

16.
We present an alternative five-step plan which not only supplements the deficiencies of the current official plans for reunification, but also incorporates recent developments, such as, joint membership of North and South Korea of the United Nations (1991), and mutual agreements on reconciliation, nonaggression and economic exchange and cooperation (1992). The plan starts with a preliminary step for the normalization of relations between the two Koreas, and then subsequently moves on to economic integration, social integration, political integration, and military integration. However, as the political confrontation in the Korean peninsula has already been well-researched elsewhere, We discuss economic issues which are likely to present themselves during the unification process. Economic issues, rather than the political ones, could prove to be of the greatest concern to a smooth reunification between the peninsula's long- divided neighbors.  相似文献   

17.
With the progress of globalization, South Korea, one of the emerging industrial countries, has recently witnessed a sharp increase in the number of enterprises that employ foreigners. However, there are only a limited number of studies on the influence that such an increase has had on the labor market in the Republic of Korea. Thus, using ‘Workplace Panel Survey’ data surveyed by the Korea Labor Institute (KLI), this paper examines the relationship concerning the labor demand of an establishment between domestic temporary and foreign workers. Analysis using a bivariate Tobit model shows that a typical Korean firm attempts to employ domestic temporary and foreign workers simultaneously. Further, the empirical analysis found that any establishment that is relatively newly established and has difficulty in recruiting domestic workers hires foreign workers, but there is no evidence that establishments hire foreign workers rather than domestic temporary workers to save on the production cost.  相似文献   

18.
China has reached the Lewis turning point   总被引:6,自引:0,他引:6  
In the past several years, labor shortage in China has become an emerging issue. However, there is heated debate on whether China has passed the Lewis turning point and entered a new era of labor shortage from a period of unlimited labor supply. Most empirical studies on this topic focus on the estimation of total labor supply and demand. Yet the poor quality of labor statistics leaves the debate open. In this paper, China's position along the Lewis continuum is examined though primary surveys of wage rates, a more reliable statistic than employment data. Our results show a clear rising trend of real wages rate since 2003. The acceleration of real wages even in slack seasons indicates that the era of surplus labor is over. This finding has important policy implications for China's future development model.  相似文献   

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This paper examines the determinants of trade flows in parts and components related to global production sharing in machinery industries, using a newly compiled panel dataset for Japan and the US over the period 1988–2005. The findings show the importance of labour costs, and the quality of the legal system and physical infrastructure in attracting production sharing, as suggested by theory. It is also found that US production networks in the electronics industry have a regional focus on Asia, while those in the automobile industry are concentrated in North America. On the other hand, Japanese production networks in both industries are concentrated in Asia.  相似文献   

20.
When examining questions regarding the Lewis model, one of the most salient set of facts involves the shift of labor between agricultural and the off farm sectors. The goal of this paper is to answer several questions about the nature of this movement: How has the expansion of the economy after 2000 affected off farm labor market participation? Has off farm labor continued to rise? What is this rise being driven by—migrant wage earners or self employment opportunities? What is, in part, driving these trends? Using a national representative set of data that consists of two waves of surveys done in 2000 and 2008 in six provinces, the paper finds that off farm labor market participation has continued to rise steadily in the early 2000s. However, there has been a structural break in the trends of occupational choice before and after 2000. Unlike before 2000, after 2000 migration's growth accelerated; during this same period the self employed subsector stagnated. The number of wage earning migrants in 2008 was greater than the number of those in the self employed subsector. The data also show that the rise in wage-earning migration is mainly being driven by the younger cohorts. Our analysis also shows that the rise of migration is happening in conjunction with a rising unskilled wage.  相似文献   

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