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1.
Conclusion In general, most studies have been unable to confirm the predictions of the Becker utility approach to discrimination by employers
and employees. This lack of verification would seem to indicate that the observed wage differentials are generated by a different
or more complex process. However, such a strong statement is premature in view of the measurement problem that has been present
in most studies. Becker’s model is a characterization of how individual employers and employees behave in the market. Empirical
testing of Becker’s model requires detailed information about the degree and level of contact between the races, the wage
rates paid to each race, skills of each worker, and the manner of employment and placement of each race. Invariably the lack
of such detailed firm data, particularly wage rates, forces researchers to use aggregative data of income or earnings averages
and occupation of workers employed within a state or broadly defined industry in order to generalize how firms behave in the
market. The necessity of using such data, however, results in a dichotomy between the original parameters in Becker’s model
and the data utilized. Clearly the lack of a significant association between the data utilized and the parameters specified
in Becker’s model undermines the credibility of such empirical testing. The empirical analysis on the implications of Becker’s
theory of discrimination has left a wide variety of unsettled questions and much remains to be done. 相似文献
2.
Donald J. Milley 《The Review of Black Political Economy》1987,15(3):87-99
This article investigates the consumption patterns of black Americans for five different commodity groups: food, housing,
clothing, health care, and transportation. The black consumer’s demand for these products is hypothesized as describable by
the linear expenditure system. The system allows the investigation of changing relative commodity prices and income. The system
also establishes a basic consumption bundle as an estimable parameter of the system. The basic bundle allows for changes in
composition due to increased product familiarity, habit formation, and emulation by black consumers. Product familiarity and
habit-formation play a role in determining the black consumer’s demand for the commodities food, housing, and clothing. This
demand is also partially determined by the consumer’s “emulation” of consumption standards established by society in general.
The article is not a comparison study of black-white differences in consumer behavior; however, the possible existence of
an emulation effect in black consumer behavior suggests an interrelation of black-white consumer welfare which might fruitfully
be studied by future researchers. 相似文献
3.
This paper uses a proportional hazard model to study foreign direct investment by Japanese manufacturers in Europe between
1970 and 1994. We divide each firm’s investment total into a sequence of individual investment decisions and analyze how firm-specific
characteristics affect each decision. We find that total factor productivity is a significant determinant of a firm’s initial
and subsequent investments. Parent-firm size does not have a significant influence on the initial decision to invest. Large
firms simply have more investments than smaller firms. Other firm-specific characteristics, such as the R&D intensity, export
share and keiretsu membership, also play a role in the investment process.
JEL no. F23, L20 相似文献
4.
Wacquant (2001) and others have argued that social control efforts directed at racial and ethnic minorities frequently shift
institutional form and become more nuanced as societies modernize, even as the underlying function persists. This study examines
the connection between southern lynching and housing segregation. We argue that legal, political, social and demographic changes
in the south made lynching dysfunctional as a means of control. Among other more nuanced control mechanisms, modern housing
segregation helped serve as a replacement. We test this proposition by relating historical southern black lynching rates to
recent levels of segregation in southern MSAs. We find that an MSA’s historical lynching rate is positively and significantly
linked to the MSA’s current segregation levels after accounting for standard determinants of segregation. Thus, segregation
does not just occur generally throughout the south, but follows a very particular pattern based on past lynching rates. Our
findings add to a growing literature on the legacy of lynching, such as studies examining contemporaneous variation in support
for and use of capital punishment. 相似文献
5.
The paper analyzes Russia’s macroeconomic conditions and main trends in its foreign exchange market under financial liberalization.
Structural changes in the Russian foreign exchange market are juxtaposed with major trends and proportions in the world’s
forex market such as swap and futures operations and the increased role of the single European currency in the economy and
finances. In the examination of the initial results of the dual currency basket policy of the Bank of Russia, the accent is
on the foreign exchange market infrastructure, i.e., exchange business, clearing and settlements, as a necessary condition
for Russia’s integration into the world’s financial system. 相似文献
6.
Exports and Productivity Growth: First Evidence from a Continuous Treatment Approach 总被引:1,自引:0,他引:1
A recent survey of 54 micro-econometric studies reveals that exporting firms are more productive than non-exporters. However,
previous empirical studies show that exporting does not necessarily improve productivity. One possible reason for this result
is that most previous studies are restricted to analysing the relationship between a firm’s export status and the growth of its labour productivity, using the firms’ export status as a binary treatment variable and comparing the
performance of exporting and non-exporting firms. In this paper, we apply the newly developed generalised propensity score
(GPS) methodology that allows for continuous treatment, that is, different levels of the firms’ export activities. Using the
GPS method and a large panel data set for German manufacturing firms, we estimate the relationship between a firm’s export-sales
ratio and its labour productivity growth rate. We find that there is a causal effect of firms’ export activities on labour
productivity growth. However, exporting improves labour productivity growth only within a sub-interval of the range of firms’
export-sales ratios.
JEL no. F14, F23, L60 相似文献
7.
Andrew?Mullineux For the Jean Monnet Project 《International Economics and Economic Policy》2010,7(4):437-448
This paper questions the existence of an Anglo-American model of corporate governance and capitalism. Significant differences
between the UK and US models of corporate governance are identified. The UK is a principles orientated system based more on
voluntary codes operated on a ‘comply or explain’ basis, whilst the US system is more rules based and litigious. The UK focuses
more on ex ante protection of ‘outside’ shareholders, whilst the US focuses on ex post protection of share traders. Institutional investors are expected to play a more prominent and wide ranging role in corporate
governance in the UK than the US, though the evidence on their voting behaviour and wider ‘engagement’ activity is not readily
available. The explosion of private equity led leveraged buy-out activity in the mid 2000s challenges the efficiency of both
models and could be a harbinger of a ‘new capitalism’; relying more on incentive compatible remuneration packages and less
on public disclosure and market discipline. Alternatively, it could simply be driven by the tax advantages currently enjoyed
by debt over equity, the special deferred capital gains (‘carried interest’) tax treatment enjoyed by private equity, low
(long as well as short term) real interest rates (‘cheap money’), and rising equity prices. 相似文献
8.
Anders Ditlev Jensen 《Atlantic Economic Journal》2011,39(2):171-193
One of the most significant differences between developing countries and today’s advanced states is the fact that many developing
countries rely heavily on one or several natural resources. That such dependence shapes the state’s ability to tax—its fiscal
capacity—is commonly argued in the political science and applied development literatures. This paper approaches the issue
from an economic angle. Our analytical foundation builds upon a novel theoretical framework, and allows us to model fiscal
capacity as an ex ante investment under uncertainty. For our panel of 30 hydrocarbon-rich economies, instrumental-variables results provide strong
empirical support for our theoretical proposition: resource intensification weakens state-building by impeding the state’s
fiscal capacity. This result provides an inaugural validation of the economic analytics of state-capacity determinants: understanding
these determinants serves to build stronger states and support sustainable paths of development. Our result also suggests
that one of the main tools of fiscal policy-analysis in resource-rich economies, namely optimal taxation, could gain in practical
relevance by incorporating capacity-constraints into the analytical fiscal-framework. 相似文献
9.
Steve Jobs of Apple, Inc., is one of the best known CEOs in the world, and some stock analysts have termed him “irreplaceable.”
Using conventional event study methods, we test the magnitude of these announcements on Apple’s share price and its market
capitalization. We focus upon nine “events” between 2004 and 2009 in which new information about Mr. Jobs’ health was flushed
into the marketplace, on occasion by Apple itself, but more often by the commentary and speculations of media observers, stock
analysts and bloggers. We find that the impact of these announcements upon Apple share prices is mixed, usually modest, and
disappears over time. We conclude that Jobs’ health has an impact on Apple’s share price and market capitalization, but that
impact is not always negative and not nearly as large as many observers apparently believe. 相似文献
10.
Andrew C. Okolie 《The Review of Black Political Economy》2010,37(2):153-172
This article is an insider’s account of the vicious political struggles that shaped the April 2007 general elections in Nigeria
which were adjudged to be fraudulent. It argues that the form of political struggles that gave rise that election derive from
the enthronement of a particularly vicious and violent form of personal rule which is itself a product of Nigeria’s colonial
rule and long history of military dictatorship which saw to the concentration of power and resources in the state in the context
of the existence of a weak bourgeois class and generalized poverty for the generality of the population. The intrigues and
power struggles in Nigeria during its 4th Republic 1999–2007, particularly the power struggle between the country’s President
and his deputy are discussed to illustrate the character of Nigerian (and perhaps African) politics. Some suggestions are
offered for a more just and stable Nigerian polity. 相似文献
11.
China and the Exports of Other Asian Countries 总被引:1,自引:0,他引:1
We analyze the impact of China’s growth on the exports of other Asian countries, distinguishing China’s demand for imports
from its penetration of export markets. We account for the endogeneity of Chinese exports by applying instrumental variables
in a gravity model with country-pair fixed-effects. We find that China’s crowding-out effect is felt mainly in markets for
consumer goods and hence by less-developed Asian countries, not in markets for capital goods or by the more advanced Asian
economies. Meanwhile, China has been sucking in imports from its Asian neighbors, but this effect is mainly felt in markets
for capital goods. Hence, more and less developed Asian countries are being affected very differently by China’s rise.
JEL no. E5, F4 相似文献
12.
James R. Lothian 《Open Economies Review》2011,22(2):179-187
Milton Friedman (J Econ Perspect 19(4):145–150, 2005; Wall St J November 17, 2006:A20) compared the behavior of money supply, nominal income and stock prices in the United States during the course of the
1920s and early 1930s with behavior in two other historical episodes, Japan in the 1980s and early 1990s and the United States
in the 1990s and early 2000s. The three episodes, he argued, provided a natural experiment to test his and Anna J. Schwartz’s
explanation of the Great Depression of the 1930s. I use similar data for the U.S. recession that began in the fourth quarter
of 2007 as a fourth such natural experiment. What makes this episode particularly interesting are the continuing comparisons
between it and the Great Depression that have been made as events unfolded. The results are clear-cut. In the recent recession,
like the U.S recessions at the start of this century and the Japanese recession in the 1990s, there were no severe monetary
shocks of the sort experienced in the 1930s. This recession, again like the other two, has been very much milder, and very
likely will prove very much shorter than the Great Depression. This, in turn, is exactly what the Friedman and Schwartz hypothesis
predicts. 相似文献
13.
Conclusions The necessary and sufficient condition suggested by Hillman [1980] for the index of RCA, when used in cross-country comparisons,
to provide a one-to-one relationship between pre-trade comparative advantage and revealed comparative advantage is fulfilled
for the great majority of the “commodities” traded in 1985 by 118 developing economies. Given the low level of data aggregation
(the lowest for which statistical information is currently available), the large sample of countries and the high percentage
of developing economies’ total exports captured in this research, we can conclude that Balassa’s export-performance index,
for cross-country comparisons, is a good indicator of comparative advantage as reflected by pre-trade prices. In other words,
Hillman’s condition is a useful indicator of the presence of monotonicity in indices of RCA: we have observed that at a 5-digit
level of commodity aggregation, increases in Balassa’s export performance index of RCA are likely to correspond to increases
in export levels. Aggregation of commodities at a 3-digit and at a 1-digit level suggests that Hillman’s condition is unlikely
to be violated if the cause for values of the Hillman’s Index less than one is due to export specialization; on the contrary,
the number of cases of a Hillman Index smaller than one due to a large share of world markets is expected to be negatively
related to the level of aggregation. Our results suggest that Hillman’s index should be calculated in any empirical investigation
trying to assess the long-term implications of trade liberalization negotiations using an export-performance index of RCA.
There is evidence that, if used at a disaggregated level, the HI is a tool that may help flag cases in which the RCA index
can be a misleading indicator of countries’ comparative advantage, even in cross-country comparisons. It may also help reduce
disagreements regarding the most appropriate coefficient of RCA.
Further research should be directed toward enlarging the sample of countries to include the entire world and to incorporate
at least three years of trade so as to be able to eliminate the possible influence of cycles. 相似文献
14.
Linda Datcher 《The Review of Black Political Economy》1980,10(4):391-394
Summary The primary purpose of this paper was to determine the effect of background on the education and earnings of black and white
men.It was largely motivated by a desire to quantify the extent to which past discrimination against Blacks, resulting in
lower achievement, inhibits the progress of individuals today in a somewhat more benign environment.It has demonstrated that
both community and family background factors are important in determining the levels of education and earnings of black and
white men.The community effects for Blacks operate largely through their moving into more integrated neighborhoods, so that
many positive community externalities are apparently not available to families in predominantly black middle-class neighborhoods.While
the effects of father’s education, city origin, and community income are comparable between Blacks and whites, white men’s
education is more affected by number of siblings, family income, and age of 1968 head of household than is black men’s education.The
relative sizes of the coefficients of these latter variables are consistent with steeper age-earnings profiles for older white
men than older black men and higher prices paid for investing in children by black parents. 相似文献
15.
Factors Affecting Attendance of Major League Baseball: Revisited 总被引:1,自引:0,他引:1
Many studies have been conducted analyzing factors affecting the demand for Major League Baseball (MLB) games. This paper
revisits the factors affecting the long-run demand for attendance, employing an unbalanced panel technique for all home games
played over the period from 1979 to 2004 seasons for the 12 non-expansion, non-adjustment teams from MLB. Combining both teams
and every home game played during 1979–2004 seasons, dimensions provide better understanding of long-run demand for attendance.
The study finds that time factors, fan interest, city characteristics, team’s performance, and fan’s attendance behavior have
strong influences on the game attendance. 相似文献
16.
Microfoundations and Hicksian monetary theory 总被引:1,自引:1,他引:0
J. A. Kregel 《De Economist》1982,130(4):465-492
Summary John Hicks was the first economist to use a general equilibrium framework as a foundation for a dynamic macroeconomic analysis.
A critical assessment of his work in this area is used to evaluate the contributions of the ‘micro-foundations’ discussions
of the 1970’s. It is noted that Hicks’s starting point, the question of the role of money in a general equilibrium framework,
is precisely where the current debate has arrived some fifty years later. This delay, and the foundations debate, were due
in large part to Hicks’s own attempts to interpret Keynes’s theory in terms of his own, original framework.
Suggestions and comments from P. Davidson, O. Steiger, and the editor, as well as the participants of seminars in the University
of Bremen and the Economics Institute of the Faculty of Statistics of the University of Rome are acknowledged without implication
of responsibility. 相似文献
17.
Kwabena Gyimah Brempong 《The Review of Black Political Economy》1986,15(1):27-43
Empirical models of the supply of criminal offenses in the United States have shown a positive relationship between the proportion
of the population that is non-white (RACE) and crime rates. Though non-whites in the United States possess more “criminal
capital” than the average person, such studies do not take into consideration this excess criminal capital. Since RACE and
the omitted excess criminal capital are correlated, it will pick up the influence of the excess criminal capital. Using cross-sectional
data from Florida’s municipalities, we show that after adjusting for excess criminal capital, RACE has no significant relationship
with crime. 相似文献
18.
Sreenivasan Subramanian 《The Review of Black Political Economy》2011,38(1):27-52
An important feature of most segmented societies is that deprivations and well-being achievements are unequally distributed
across well-defined sub-groups of the population, when the latter is partitioned according to a variety of social or geographical
categories, such as gender, caste, ethnicity, religion, occupation, sector of origin, or region of domicile. Group disparities
are a matter of both instrumental interest in assessing the nature of a society (such as in terms of its propensity for conflict)
and intrinsic concern in evaluations of a society’s record of ‘horizontal’ distributive justice. One aspect of a study of
population heterogeneity would reside in the measurement of inter-group inequalities in the distribution of a society’s burdens and benefits. It is this aspect of the problem that
is reviewed in the present paper. It is useful to note that group inequality can be categorized into different types (which
are nevertheless mutually linked by certain commonalities of purpose and motivation), and a particularly instructive taxonomy
is available in a recent paper by Arjun Jayadev and Sanjay Reddy (‘Inequalities and Identities’, which is available on the
website of the Social Science Research Network, at ). The present paper also presents taxonomy of alternative approaches to reckoning group inequality, and discusses a number
of real-valued measures of group disparity, mainly based on work in which this author has earlier engaged, by himself or in
collaboration. 相似文献
19.
Daniel C. Giedeman 《The Review of Black Political Economy》2011,38(3):205-226
The experiences of Fannie Mae and Freddie Mac during and prior to the Financial Crisis of 2007–09 call to mind the history
of the Freedman’s Savings and Trust Company, a prominent bank founded for the benefit of former slaves just after the Civil
War. This paper notes similarities concerning the initial motivation for the creation of all three institutions and draws
parallels between their mismanagement and subsequent failures. The paper also discusses the government’s response to the institutions’
downfalls and the legacies that the institutions left behind. 相似文献
20.
Global Imbalances: Is Germany the New China? A Skeptical View 总被引:1,自引:1,他引:0
In this paper we evaluate the current account patterns of China and Germany. We point out that China’s current account surplus
as a share of global GDP in recent years resembles that of Germany’s. Yet, an important difference is that the Euro block’s
current account inclusive of Germany has overall been balanced, whereas emerging Asia’s current account inclusive of China
has mostly been characterized by sizable surpluses. We further find that both China and Germany’s current account surpluses
seem to be accounted for by common factors. However we have reasons to doubt the long run viability of these current account
trends in future decades. Demographic transitions in China and Germany are projected to reduce their surpluses, and this effect
is stronger for Germany. We also discuss plausible reasons to doubt the extent to which the Euro block will move towards significant
surplus in the coming years. 相似文献