Prospect Theory,Fairness, and the Escalation of Conflict at a Negotiation Impasse*

We study a bilateral negotiation set-up where, at a bargaining impasse, the disadvantaged party chooses whether to escalate the conflict or not. Escalation is costly for both parties, and it results in a random draw of the winner of the escalated conflict. We derive the behavioral predictions of a simple social utility function, which is convex in disadvantageous inequality, thus connecting the inequity aversion and the prospect theory models. Our causal laboratory evidence is, to a large extent, consistent with the predicted effects. Among other things, the model predicts that the escalation rate is higher when escalation outcomes are riskier, and that the disagreement rate is lower when the cost of escalating the conflict is higher.     

最低工资标准的就业效应研究--基于30个省际面板数据的实证分析

通过构建一个由最低工资标准等因素共同决定的劳动力就业函数,从理论层面分析最低工资标准提升等因素对城镇劳动力就业的影响。同时基于中国2004_2011年的省际面板数据,引入技术进步、城镇化、老年抚养比等指标,运用面板分位数回归方法进行实证分析。综合比较来看：现阶段最低工资标准提升与城镇劳动力就业呈显著正相关关系,而技术进步对城镇劳动力就业的影响不能一概而论,具有不确定性。其他控制变量如城镇化发展有利于提高城镇劳动力就业,而老年抚养比、对外开放度的提高却与城镇劳动力就业呈负相关关系。其对策含义为：要充分考虑相关因素对劳动力就业的冲击,理清不同地区、不同企业类型以及不同性别可能存在的有差异的劳动力就业效应,主张通过就业政策和劳动力市场制度的进一步完善,实现劳动力更加充分的就业。     

A Tax Package to Reduce the Marginal Rate of Income Tax and the Wage Demands of Trade Unions*

To reduce the level of tax evasion, a shift of taxation away from income tax and towards a consumption tax has been proposed in Australia. This paper shows that for such a shift to maintain revenue but not induce trade unions to raise their wage demands, it is necessary that the income tax threshold be increased. Numerical examples of desirable tax packages are given.     

Theory and Practice of Contagion in Monetary Unions: Domino Effects in EMU Mediterranean Countries

This paper analyzes strategic interactions and contagion effects in the peripheral countries of a monetary union. Using game theory and cost-benefit analysis, the paper determines the set of equilibrium solutions under which country-specific shocks are transmitted to other member countries giving rise to contagion. Numerical simulations, obtained by a simple calibration of the model on some key Mediterranean countries of the Euro Zone, show the probabilities of contagion from Greece, Spain and Italy.     

Central Wage Setting under Multiple Technological Equilibria: A Mechanism for Equilibrium Elimination

Instituting an initial round of centralized wage setting before an ultimate round of decentralized wage bargaining may actually raise employment. A general multi–equilibrium model is set up with strategic complementarities in the implementation of a new technology through aggregate demand spillovers. In this model, centralized wage setting to establish an outside option wage, which is selectively binding on lo–tech firms, may achieve the "big push" to a hi–tech general equilibrium with higher employment, output, wages and profits.     

中国地区工资水平差异的影响因素分析

本文运用模块数据和空间计量学的方法考察了中国改革开放以来影响地区工资水平及地区工资非均衡的各种政策体制因素和经济因素。实证结果表明,中国的地区工资水平及其差异既受制度变迁的影响又受市场机制的作用,具有典型的转型特征。具体而言,工资体制、对外开放、所有制改革、地方保护、教育水平和资本投入等因素对地区工资水平及其差异都有不同程度的影响作用。     

Strange brew: The antinomies of distribution in W.S. Jevons' Theory of Political Economy *

Abstract

In the Preface to the second edition of his Theory of Political Economy (1879), W. Stanley Jevons announced an extraordinary turn in his analysis as he abandoned much of the explanatory framework used in the body of the text to explain cost of production and distribution. It is shown here that, when the Theory is read in the context of the objective and structure of Jevons' distribution analysis, the turn can be explained as Jevons' response to the realization that he was only able to reconcile his analysis of cost of production and of distribution in a special case.     

劳动力转移与工资差距同时扩大的“悖论”研究——基于市场分割的视角

从市场分割的角度出发,对劳动力流动与工资差距同时扩大的"悖论"和中国市场化过程中的"迁移谜题"进行了深入分析,认为劳动力市场的地区分割和城乡分割导致了劳动者之间必然存在工资收入差距,而且即使存在劳动力转移,也不能使工资差距收敛。这种制度性偏好导致的劳动力市场分割,对劳动者工资收入差距的扩大起了推波助澜的作用,因此构建全国统一、自由竞争的劳动力市场是非常必要的,并提出有关的政策建议。     

效率工资理论的新发展：阿克洛夫的观点

阿克洛夫的效率工资理论,通过吸收社会学、人类学的研究成果,将人的劳动行为看成基于公平出发的社会习俗。根据这一习俗,企业支付的工资不少于工人预期的公平工资,而工人根据企业支付的工资决定自己的努力程度,从而决定自己的边际产出。对于追求利润最大化的企业来说,并非支付的工资越高越好,支付工人的工资应等于工人的边际产出。当公平工资高于市场出清工资时,非自愿失业问题出现,工人技术程度与其失业率负相关。二元劳动力市场的现实与人类内生的行为规范,使得非自愿失业问题的解决前景十分悲观。     

Migration and Wage‐setting: Reassessing the Labor Market Effects of Migration*

In this paper we employ a wage‐setting approach to analyze the labor market effects of immigration into Germany from 1980 to 2004. This enables us to consider labor market rigidities, which are prevalent in Europe. We find that the elasticity of the wage‐setting curve is particularly high for young workers. Moreover, natives and foreigners are imperfect substitutes. The wage and employment effects of immigration depend on the skill structure of the immigrant workforce. Because the foreign labor supply shift has mainly affected the high‐skilled labor market segment, the 4 percent increase of the workforce through immigration has not increased either aggregate or foreign unemployment.     

Environmental Externalities in the Presence of Network Effects: Adoption of Low Emission Technologies in the Automobile Market*

The paper considers a market currently dominated by a dirty technology that imposes significant environmental costs. A clean technology, with zero environmental costs, is introduced after the maturity of the dirty technology’s network. Adoption of the clean technology is not possible due to the network benefits in favour of the dirty technology. The paper considers two types of policy intervention to correct for the environmental externality. First, we find that the tax necessary to induce adoption of the clean technology is very high implying that a tax equal to the marginal environmental damage would not resolve the externality problem in many cases. Second, if tax revenues are earmarked towards subsidizing the clean technology, the tax is lower than in the previous case and can be set equal to the marginal external damage. *The authors are indebted to two anonymous referees for their insightful comments. We would also like to thank Robert Androkovich, Jim Seldon, Gordon Tarzwell, Christos Constantatos, participants of the EAERE 2002 conference, and the Sevilla Workshop on Public Economics and the Environment 2004 for their suggestions. Financial support by the Scholarly Activity Committee of the University College of the Cariboo is acknowledged by both authors. Eftichios Sartzetakis acknowledges also financial support by the Pythagoras I research grant of the Greek government.     

海外子公司的战略网络结构及其差异化：基于社会嵌入理论的视角

通过引入和发展社会嵌入理论,把海外子公司在战略网络中的嵌入关系划分为关系嵌入、位置嵌入和结构嵌入三个维度,对海外子公司的战略网络结构进行了深入剖析,提出了海外子公司战略网络结构的差异化现象,并研究了差异化的引致因素。     

中国现代企业并购效应实证研究——基于多项并购效应的综合得分模型检验分析

企业并购是一种十分活跃的经济活动,由于存在着并购效应,结果应驱使企业通过企业并购以谋求不同的并购效应。西方学者普遍采用股票价格波动衡量并购效应的方法不适宜于我国企业。文章采取因子分析法,借助财务指标构建横向并购效应、纵向并购效应、混合并购效应的财务指标综合得分模型,选择相应的样本和时间段进行实证研究。实证结果是并购当年和并购后一年的效应是比较明显的,但并购后第二年、第三年的效应就不够明显。这充分说明企业并购后的整合尤其重要。     

New‐Keynesian Models and Monetary Policy: A Re‐examination of the Stylized Facts*

Using an empirical New‐Keynesian model with optimal discretionary monetary policy, we estimate key parameters—the central bank's preference parameters; the degree of forward‐looking behavior in the determination of inflation and output; and the variances of inflation and output shocks—to match some broad characteristics of U.S. data. The parameterization we obtain implies a small concern for output stability but a large preference for interest rate smoothing, and a small degree of forward‐looking behavior in price‐setting but a large degree of forward‐looking in the determination of output. Our methodology also allows us to carefully examine the consequences of alternative parameterizations and to provide intuition for our results.     

国债旅游基础设施投资效应：基于CGE模型的研究

利用国债资金进行旅游基础设施建设所产生的经济效应问题是政府和学术界都极为关心的重大现实问题。在构建“整合”的旅游生产函数的基础上,利用CGE模型对2000--2005年中国国债旅游基础设施投资对于旅游业以及全社会价格水平、总产出、总消费、居民收入、就业以及私人部门投资等方面的经济影响进行了定量研究。研究表明,国债旅游基础设施对于中国旅游业以及社会经济的发展均产生了积极的影响,有必要继续实施,为充分发挥基础设施条件改善对于目的地社会经济发展的推动作用,各地在旅游发展战略和旅游规划制定方面也需要有所调整。     

Inequity in American Schools: A New Perspective on the Distributional Effects of School Expenditures on Economic Well‐Being

This article explores how inequities in public K‐12 school spending impact the distribution of economic well‐being across American households with public school students in 1989 and 2000. Adapting concepts from the public finance literature, I explore the impact of school spending on the vertical and horizontal equity and its impact relative to other types of public spending on social programs and taxation. Conventionally, vertical equity refers to the size of the income gaps between households. Horizontal equity refers to the ranking of households along the income distribution with any change in ranks producing horizontal inequity. My main findings show that school spending, when converted into a component of income, served to reduce extended‐income inequality through improvements in vertical equity without the discriminatory implications of exacerbating horizontal inequity across households. Additionally, this impact was at least as large as that of spending on other social programs. This finding bolsters standard arguments for equity and progressivity of school finance across students.