Bank Fragility and International Capital Mobility

The paper presents a model of a small open economy with a fragile banking sector and imperfect international capital mobility. In this model, increased international integration of the market for bank deposits makes bank runs more likely, resulting in a welfare loss for the business sector. Bank depositors may gain or lose depending on the parameters. When depositors gain, whether the gains exceed the losses to the business sector depends on the size of the holdings of foreign assets relative to the deadweight costs of bank runs. Thus, limited international financial integration may not be desirable.     

Profit-Sharing and International Capital Mobility in Developing Countries

This paper uses a general equilibrium model incorporating rural–urban migration to analyze and contrast the short- and long-run effects of profit-sharing. Specifically examined are the effects of profit-sharing on rural–urban migration, the degree of competition among urban firms, and international mobility of capital. It is found that although profit-sharing may raise urban employment in the short run, the scheme reduces urban employment and lowers the inflow of foreign capital in the long run.     

Eco-Dumping, Capital Mobility, and International Trade

A small open economy’s optimal environmental policy is studied in a model with international capital mobility and local pollution. The country produces traded as well as non-traded goods. Is it in the country’s interest to engage in ecological dumping by choosing generous pollution allowances for the traded-good sector? The answer depends decisively on the policy regime in use. Dumping is not optimal if the country ensures that the implicit rent on pollution is completely appropriated within the country. However, if the implicit factor reward on pollution leaves the country because it accrues to (foreign) owners of mobile capital, the local welfare maximizing government tends to discriminate against the traded-good sector, the opposite of ecological dumping.     

International Capital Mobility and the Costs of Us Import Restraints*

Abstract This paper evaluates general equilibrium welfare effects of tariffs, quotas, and voluntary export restraints under different assumptions about international capital mobility. We show analytically that, when induced terms-of-trade and rental-rate effects are considered, the qualitative influence of capital mobility on the costs of protection cannot be ascertained unambiguously. Simulation estimates for the US indicate the practical importance of capital mobility, as well as of terms-of-trade and rental-rate adjustments, in determining the ultimate welfare effects of import restraints.     

International Capital Mobility and Development Policy in a Dual Economy

This paper introduces international capital mobility in a general-equilibrium model of a small developing economy which is characterized by a dualistic economic structure. The model is then used to analyze the positive and the normative aspects of development policies that are often recommended for achieving employment-related objectives in developing economies.     

Social Security Policy and International Labor and Capital Mobility

This paper studies the connection between social security policy and international factor movements within a two-country overlapping-generations model with production. Incentives for factor movements emerge because one country relies on private savings while the other country operates a social security system. The pattern of migration depends on the steady-state capital–labor ratios compared with the Golden Rule capital–labor ratios. Incentives to migrate do not vanish in the long run and one country might empty out. Capital always moves to the social-security country. Without compensation neither labor nor capital mobility represents a Pareto improvement for the economy.     

Voting on Unemployment Insurance

In this article, we ask heterogeneous agents in a dynamic general equilibrium economy to vote on the generosity of their unemployment insurance program. We observe the influence on their vote of (1) moral hazard, (2) private alternatives, and (3) changes in employment status. Agents differ in skills, employment probabilities, income prospects, and assets. For a calibration to the United States, we show that: (1) in contrast to the literature, plausible levels of moral hazard need not induce large cuts in optimal benefits. (2) Switching to private insurance is rejected for most status quo, though it would be as generous. (3) Skill groups vote as a block. For reasonable discount factors, solidarity is never broken simultaneously for more than one group.     

Economies of Scale, International Capital Mobility, and North-South Inequality

This paper develops a model of North-South trade with a continuum of goods, external economies of scale and international capital mobility. The North-South wage gap must exceed any difference in labor quality for South to overcome the established external economies in North. In equilibrium North retains the goods with the largest external economies and South specializes in the remaining goods. While Northern product innovation leads to the production of additional goods in South, it is possible for South to experience a terms-of-trade deterioration, a reduction in foreign investment, and an increase in wage and income inequality.     

Unemployment Insurance in Theory and Practice

A hallmark of modern labor economics is the close interplay between the development of theory, data sources and econometric testing. The evolution of the economic analysis of unemployment insurance provides a good illustration. New theoretical approaches, in particular job-search theory, have inspired a large amount of empirical research, some of it methodologically innovative and most of it highly relevant for economic policy. The paper presents a broad survey and an assessment of the economic analysis of unemployment insurance as it has evolved since the 1970s.     

失业保险金与再就业行为

现有的失业理论及实证研究都认为失业保险金的提高会增加失业者的失业持续时间。在本文中，我们试图从失业者面临工作机会的工资分布结构出发，对失业保险金与失业者再就业工资分布的关系进行描述。通过对传统工作搜寻理论模型的扩展，我们证明失业保险金对失业持续时间的影响存在三种不同的传导路径，同时我们得到两个推论：失业保险金的增加一方面将提高失业者接受“高”工资工作机会的概率；但另一方面对失业者从事“低”工资工作机会的影响是不确定的。如果将正武工作视为“高”工资的工作机会，而将非正式工作视为“低”工资的工作机会；则基于微观层面的数据所进行的实证研究结果验证了我们的推论。     

论中国失业保险制度改革及国际经验借鉴

失业保险制度在我国建立的 18年中发挥了巨大作用 ,但随着我国就业形势的日益严峻 ,尽快完善我国失业保险制度是一项刻不容缓的任务。为此 ,文章总结了国际上失业保险制度的先进经验及发展趋势 ,阐述了我国当前失业保险制度中存在的问题 ,以此探讨我国失业保险制度改革的方向 :扩大保障范围 ;建立与企业失业风险挂钩的保险缴费制度 ;调整失业救济金的给付标准 ;建立统一的社会保障管理体制 ;实行积极的失业保险政策 ,把失业保险与失业人员再就业有机结合起来 ;使再就业服务市场化以提高失业保险基金的使用效率。     

Optimal Unemployment Insurance and Employment History

In existing unemployment insurance programmes, it is standard to condition eligibility on the previous employment record of unemployed workers. The purpose of this article is to study conditions under which the efficient contract exhibits these properties. In order to do so, we characterize the optimal unemployment insurance contract in asymmetric information environments in which workers experience multiple unemployment spells. We show that if quits cannot be distinguished from layoffs, it is optimal to condition the benefits paid to unemployed workers on their employment history, in particular, the coverage should increase with the length of previous employment spells.     

工人离职、失业波动与失业保险文献评述

失业不仅涉及失业波动的影响,还包括在职工人的离队。为减少工人搜寻过程中产生的负外部性,应降低工人的信息成本。失业保险政策的实施又降低了失业工人再就业的激励性,应确立有效的失业保险水平,实现产出与社会福利的最大化。     

失业保险保障水平研究综述

工作搜寻模型和劳动--闲暇模型从理论上都揭示出失业保险具有潜在的再就业抑制效应,如果制度设计不当,就有可能出现补偿不足或养懒汉的现象.学者们对确定适度的保障水平争议很大,由于研究方法不同,考虑因素各异,最优替代率的确定,从82%到43%到20%甚至到0,莫哀一是.     

我国失业保险基金管理创新初探

我国失业保险基金管理水平较低,管理制度、管理体制、管理机制等方面存在诸多问题,管理创新迫在眉睫。要不断完善法律制度,建立隐性就业者鉴别制度,有差别的支付制度以及失业保障会计制度;进一步提高基金统筹层次,尽快开征失业保障税,最终建立由国家统一协调,各级政府的劳动保障部门实施专业管理的分层次的失业保障管理体制,并建立基金筹集的激励机制、制衡机制、投资风险约束机制和以失业保障促进再就业机制。     

大学生失业保险问题探讨

伴随着1999年开始的高校扩招，2003年以来我国的大学毕业生就业问题日益突出，加剧了我国原本就十分严峻的下岗待业和失业形势。本文在对大学生失业的现状和原因进行分析的基础上，提出通过建立大学生失业保险制度来缓和日益严峻而又无法回避的因大学生失业所带来的社会隐患。     

Capital Stock, Unemployment and Wages in the UK and Germany

This paper is concerned with the view that capital formation is an important variable in the determination of unemployment and wages in Germany and the UK. Adverse demand shocks affect employment and investment. When shocks reverse, unemployment may not fall to previous levels due to insufficient capital. The empirical results show that unemployment has risen in the last twenty years in both countries due to insufficient investment. Policies that are aimed at stimulating investment may have a permanent effect on unemployment in Germany and the UK.