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1.
Non-traded Goods,Technical Progress and Wages 总被引:2,自引:0,他引:2
We use a general equilibrium model of trade to show that technical improvement may indeed cause a fall in the wages of unskilled
workers. Under some modest conditions, the wages of skilled workers may go down too.
相似文献
Reza OladiEmail: |
2.
Policy coordination in East Asia and across the Pacific 总被引:1,自引:1,他引:0
In this paper, we construct a macro-econometric model that describes the economic activity in the Asia-Pacific area and provide
quantitative insights into the recent policy debates on monetary and currency coordination among the East Asian economies.
The model includes a wide variety of monetary and currency policy rules that the East Asian economies adopt and allows for
one country's policymaking to have substantial effects on foreign countries. We apply the model to three current policy issues:
(1) the desirability of currency basket pegs in East Asia, (2) the anticipated effects of China's currency policy reform,
and (3) the non-negativity constraint on Japanese nominal interest rates. The simulation analyses show the external economy
effects of policy rules quantitatively and suggest the difficulty of monetary and currency policy coordination among the East
Asian economies.
相似文献
Koichiro Kamada (Corresponding author)Email: |
Izumi TakagawaEmail: |
3.
The purpose in this note is first to review briefly the empirical results on the relationship between real interest rates
and real exchange rates; this empirical literature provides little support for the hypothesis of Roll that expected real interest
rates are equal in general. Our second aim is to discuss the theoretical conditions that have to be met for his hypothesis
to hold.
相似文献
David PeelEmail: |
4.
James Peoples 《The Review of Black Political Economy》2009,36(1):1-6
Efforts by public and private institutions to increase the number of minorities participating in graduate economics programs
has contributed to a growing supply of Ph. D. trained minority economists. However, minorities are still under-represented
as faculty members in economics departments. This presidential address explores whether the concentration of minorities in
a few fields of specialization creates a demand-supply mismatch for these individuals.
相似文献
James PeoplesEmail: |
5.
In this paper, we re-examine the “PPP Puzzle” using sectoral disaggregated data. Specifically, we first analyse the mean reversion
speeds of real exchange rates for a number of different sectors in 11 industrial economies and then focus on relating these
rates to variables identified in the literature as key determinants of CPI-based real exchange rates, namely: the trade balance, productivity and the mark up. In particular, we seek to understand to what extent the relationships existing at the aggregate level are borne out at the
disaggregate level. We believe that this analysis can help shed light on the PPP puzzle.
相似文献
Ronald MacDonaldEmail: |
6.
We explore the interactions between exchange rate and fiscal policy, and default on external debt. Exchange rate policy affects
the supply of short-term debt facing the government. Under a conventional soft peg, it can be optimal for the government to
set the exchange rate at a level in which partial default occurs. In this case multiple equilibria exist, with one featuring
high interest rate, overvalued exchange rate, low level of output, and default. Default is also an equilibrium under a hard
peg, precisely because devaluation is not an option. Under a hard peg, however, there is a unique equilibrium.
相似文献
Peter MontielEmail: |
7.
We present an analysis of the determinants of de jure and de facto exchange rate regimes based on a panel probit model with
simultaneous equations. The model is estimated using simulation-based maximum likelihood methods. The empirical results suggest
a triangular structure of the model such that the choice of de facto regimes depends on the choice of de jure regimes but
not vice versa. This gives rise to a novel interpretation of regime discrepancies.
相似文献
Jizhong ZhouEmail: |
8.
Caroline Schmidt 《Open Economies Review》2007,18(3):347-367
In this paper, it is argued that the observed high positive correlation between national savings and investment which is found
in the data can in part be explained by shocks to monetary policy. This hypothesis, which is established by reviewing some
empirical findings, is tested in a two-country DSGE-model framework in the tradition of the New Open Economy Macroeconomics.
The simulation results obtained support the idea that shocks to monetary policy might contribute to the explanation of the
Feldstein-Horioka puzzle.
相似文献
Caroline SchmidtEmail: |
9.
A small open economy model with an endogenous time preference is used to study the current account dynamics when consumption
exhibits durability. There is a unique level of instantaneous utility and stock of durables that must be maintained in the
steady state. A terms of trade deterioration requires a net asset accumulation and a fall in consumption expenditures along the adjustment path. Nevertheless, the fall in consumption
expenditures leads to a fall in the stock of durables, which has to be corrected somewhere along the adjustment path, and
which may lead to a non-monotonic adjustment of the current account (J-curve).
相似文献
Arman MansoorianEmail: |
10.
Kyoji Fukao Kiyohiko G. Nishimura Qing-Yuan Sui Masayo Tomiyama 《International Economics and Economic Policy》2005,2(4):337-362
We construct an index measure that quantitatively describes the monitoring activities of Japanese banks. Using micro data
on Japanese banks and borrower firms, we examine the effects of bank monitoring on the profitability of borrower firms. We
find significant positive effects in the periods 1986–1991 and 1992–1996, although there is no significant effect in the period
1981–1985. We also examine how banks’ monitoring affects borrowers. The results show that the positive effects of banks’ monitoring on borrowers’ profitability
are mostly caused by screening effects, not performance-improving effects.
相似文献
Masayo TomiyamaEmail: |
11.
Within a two-sector-two-country model of trade with aggregate scale economies and unionisation, a more generous welfare state
in one country increases welfare in that country and can have positive spillover effects on the other. Furthermore, synchronised
expansions of social security are more welfare enhancing than unilateral ones. Our results counter the fears that a race to
the bottom in social standards may result from the ‘shrinking-tax-base’ entailed by international capital mobility. While
affecting trade patterns and income distribution, capital mobility interacts with welfare state policies in increasing welfare,
even when capital flows out of the country that initiates the shock.
相似文献
Catia MontagnaEmail: |
12.
FDI and the relevance of spatial linkages: do third-country effects matter for Dutch FDI? 总被引:2,自引:0,他引:2
The aim of this paper is to test for the relevance of spatial linkages for Dutch (outbound) foreign direct investment (FDI).
We estimate a spatial lag model for Dutch FDI to 18 host countries. After controlling for fixed effects, we find for our sample
period 1984–2004 that third-country effects matter. Apart from our benchmark spatial lag model, we also estimate various alternative
models by looking at European host FDI countries only, by dividing FDI into industry and services FDI, and by estimating a
spatial error model.
相似文献
Harry GarretsenEmail: |
13.
This study examines whether privatization is associated with low public sector health care wages and with low probability
of public sector employment for health care providers. Findings suggest that privatization contributes significantly to low
wages of union health care providers in the public sector. Privatization also contributes to a low probability of public sector
employment in this industry, especially to unionized workers. These results indicate that competition enhancing policy can
promote lower labor costs even in a service sector that employs a highly skilled work force.
相似文献
James PeoplesEmail: |
14.
Do Patent Protection and Technology Transfer Facilitate R&D in Developed and Emerging Countries? A Semiparametric Study 总被引:1,自引:0,他引:1
This paper examines if patent protection and technology transfer facilitate R&D in a sample that includes both developed and
emerging countries. A semiparametric model is used to estimate the relevant parameters using country level data from 21 countries,
of which six are emerging, for the period 1981–1997. The results suggest thresholds in patent protection and technology transfer:
patent protection has a positive effect which weakens at high levels of protection, and FDI has a positive effect only if
the country depends heavily on FDI.
相似文献
Debasri MukherjeeEmail: |
15.
Mary Lopez 《The Review of Black Political Economy》2009,36(2):137-149
Service-learning courses provide students the opportunity to apply and relate economic concepts and theories to real-world
experiences within the community and to reflect on the relationship between theory and practice. One form of service-learning
is student-based instruction, which involves college students teaching economics in the neighboring community, such as to high school students. The author
provides a detailed application of the student-based instruction model of service-learning to an Economics of Race and Gender
course at a liberal arts college. Upon completion of the project, students completed a survey about their service-learning
experiences. The results indicated that the service-learning project enhanced student learning and created a more enriching
course experience.
相似文献
Mary LopezEmail: |
16.
Arslan Razmi 《Review of World Economics》2009,145(2):361-372
Using simple, modified versions of the factor proportions framework, and focusing on structural features within developing economies, this paper attempts to reconcile puzzling developments observed in many post-reform, post-liberalization
countries whereby increasing income inequality has emerged side-by-side with informalization of the economy. Measures undertaken
to enhance public sector efficiency and attract investment in an import-intensive export sector may increase rental–wage and
skilled–unskilled wage gaps, contra the predictions of the simple Heckscher–Ohlin–Stolper–Samuelson (HOSS) framework regarding
skill- and capital-scarce countries. The common thread generating our interesting results is the presence of sectors that
are even more labor-intensive than those producing traded goods.
相似文献
Arslan RazmiEmail: |
17.
In a recent article Robert P. Murphy (2006) uses Cantor’s diagonal argument to prove that market socialism could not function,
since it would be impossible for the Central Planning Board to complete a list containing all conceivable goods (or prices
for them). In the present paper we argue that Murphy is not only wrong in claiming that the number of goods included in the
list should be uncountable, but also that the number of equations/prices is irrelevant from the point of view of market socialism.
相似文献
Juliusz JabłeckiEmail: |
18.
Francisco Ledesma-Rodríguez Jorge Pérez-Rodríguez Simón Sosvilla-Rivero 《International Economics and Economic Policy》2009,6(2):179-206
This paper attempts to identify implicit exchange rate regimes for currencies of the Central and Eastern European Countries
vis-à-vis the euro. To that end, we apply a sequential procedure that considers the dynamics of exchange rates to data covering the
period from 1977:01 to 2006:02. Our results would suggest that implicit bands have existed in many subperiods for almost all
currencies under study. Once we detect de facto discrepancies between de facto and de iure exchange rate regimes, we propose a model in order to explain these decisions. Our results suggest a positive association
between the previous inflation rate and the probability of a peg with the euro, and a negative association with past unemployment
rate.
相似文献
Simón Sosvilla-RiveroEmail: |
19.
This paper provides some of the first empirical evidence on labour market adjustments to exchange rate movements in Canadian
manufacturing industries. Controlling for endogeneity using generalized method of moments estimation, it is found that during
the 1981–1997 period, exchange movements have a substantial impact on labour input and that this impact has grown over time
as the manufacturing industries have become more exposed to trade. In contrast, the exchange rate effect on real wages is
estimated to be virtually zero for all manufacturing industries.
相似文献
Terence YuenEmail: |
20.
In recent years, Europe has witnessed an accelerated process of economic integration. This paper analyzes how increased economic
integration has affected labor and product markets. We use a panel of Belgian manufacturing firms to estimate price-cost margins
and union bargaining power and show how various measures of globalization affect them. Import competition puts pressure on
both markups and union bargaining power, especially when there is increased competition from low wage countries. This suggests
that increased globalization is associated with a moderation of wage claims in unionized countries, which should be associated
with positive effects on employment.
相似文献
Stijn VanormelingenEmail: |