Racial Inequality and Segregation Measures: Some Evidence from the 2000 Census

How much of the observed segregation between black and white Americans can be attributed to income disparities between the two groups? We adopt an approach to the decomposition of segregation measures that combines the method of indirect standardization with the idea that some degree of segregation is the outcome of purely random processes. Using the dissimilarity index as a measure of segregation and data on race and income from US metropolitan areas for 2000, we find that the role played by racial income inequality in accounting for segregation is modest but varies significantly across cities.     

Occupational Segregation and Gender Wage Differentials: Evidence from Malaysia

In Malaysia, the participation of women in the labor market has increased over time. However, occupational segregation and wage differentials continue to be prevalent between men and women in the labor market. The present paper investigates gender‐related occupational segregation and wage differentials based on data collected from 7135 working households in Peninsular Malaysia in 2011. The wage decomposition model introduced by Brown et al. (1980) is used to examine the determinants of gender‐related wage differentials. The results suggest that differences within occupations account for the largest portion of the wage gap between men and women. The results also indicate that wage discrimination within occupations plays an important role in the gender wage gap, while sample selection bias plays an important role in the examination of gender wage gaps.     

Occupational Segregation and its Effect on Estimates of the Gender Wage Differential: Evidence from Brunei

This paper investigates the impact of the different occupational distributions of the gender groups on the gender wage differential in Brunei. We disaggregate occupational differences into explained and unexplained portions as this can provide better estimates of across-occupation and within-occupation wage differentials. Using data from the Brunei 1995 Labor Force Survey report, results indicated that the gender wage difference is approximately 60%. Unlike other studies, it is found that in Brunei the unexplained portion of occupational segregation has had an impact on gender wage differentials and accounts for approximately one-third of the observed gap. Interestingly, the unexplained component of the within-occupation gap is relatively less than in some developed economies. This is attributed to the effects of the large public sector in Brunei and its regulated pay scales.     

创新、企业规模和市场竞争:基于中国企业层面的面板数据分析

本文利用2001~2005年中国规模以上工业企业构成的面板数据,运用Tobit模型考察了影响中国企业创新活动的因素。以研发密度衡量创新活动,我们发现企业的创新与规模、市场竞争之间均呈倒U型关系,一定程度的规模和市场竞争有利于促进企业创新;与其他所有制企业相比,国有企业具有更多的创新活动,并且这种相对优势伴随企业规模变大而更加显著;国有企业的创新效率较低,私营企业的创新效率较高。我们特别区分了市场势力和市场集中度,发现后者可能不适合作为衡量市场竞争程度的指标。     

国家与社会的演进关系

在社会与国家的关系中,长期统治人民的思想一直是国家本位、国家至上、国家主义,归根到底是国家决定社会的历史观,这种历史观,歪曲了国家和社会的关系。为了明确界定国家与社会关系,文章从四个方面揭示其内在联系：社会产生、支持、制约、收回国家。从中会发现国家只不过是历史发展长河中的一位匆匆过客,只有社会才能与人类共始终。     

金融约束、代理成本假说与企业投资行为——来自中国上市公司的经验证据

金融约束对企业投资行为的影响日益受到重视,众多的研究者将其归结于信贷和资本市场内在的不完全.但是对于存在二元产权结构上市公司体系的转型经济体而言,还需考虑企业的预算软约束和较为严重的代理成本问题.文章结合宏观层面的分析,从企业异质产权结构导致的预算软约、金融约束差异和代理成本理论的分析视角,对我国上市公司投资行为的影响机制进行综合解释,并以1373家上市公司的数据为样本,采用面板数据的分析对我国上市公司的投资行为特征进行分析.文章发现两类企业在融资约束上存在显著差异,尽管金融约束对投资有着明显的影响,但是由于我国资本市场发展的特殊性,经典"投资一现金流敏感度假说"的研究范式缺少上市公司数据的支持.实证表明,我国上市公司的投资行为受预算软约束条件下的委托代理问题和金融约束因素共同影响.这对理解我国上市公司的投资行为特征提供了一种新的思路.     

Family Income and Educational Attainment: A Review of Approaches and Evidence for Britain

It is widely recognized that, on average, children from poorerbackgrounds have worse educational outcomes than their better-offpeers. There is less evidence on how this relationship has changedover time and, indeed, what exactly leads to these inequalities.In this paper we demonstrate that the correlation between familybackground (as measured by family income) and educational attainmenthas been rising between children born in the late 1950s andthose born two decades later. We then consider the extent towhich these associations are due to the causal effects of incomerather than the result of other dimensions of family background.We review the approaches taken to answering this question, drawingmainly on the US literature, and then present our own evidencefrom the UK, discussing the plausible range for the true impactof income on education. Our results indicate that income hasa causal relationship with educational attainment.     

Educational Attainment,Citizenship, and Black American Women in Elected and Appointed National Leadership Positions

This article examines the issue of American citizenship and how it is related to Black Americans, especially from the perspectives of educational attainment and national political leadership positions (focusing on the U.S. Senate, office of governor, and the U.S. Supreme Court). The article presents seven interrelated conceptual or theoretical perspectives of American citizenship (Three Citizenships; Gender; Equality; Race; Belonging; Military Service; and Protestant Christianity), and where Black Americans (especially Black women) fit in them. The article claims that while Black American women have made substantial progress in college degree attainment, they have done so at a very high financial cost. The article claims that compared with other groups in the society, the gains in educational attainment made by Black American women have not resulted in them being elected or selected to these national leadership positions. Among the factors presented for this exclusion of Black women are: lack of strong support from Black American male leaders and institutional support; ambition; first occupy public office within the states of the Union; they must become moderate politicians; perception that Black women have more privileges in the society than Black men and other groups; and negative media portrayal of Black female candidates. The article claims that despite being one of the oldest and most native groups in the United States, with over nine out of every 10 of them being native-born citizens, Black American women in particular tend to have the characteristics of non-citizens.     

Trade Openness and Vertical Structure: Evidence From Korean Firm-Level Data

Recent theories and empirics suggest that trade openness increases production fragmentation across countries. In this paper, we focus on the relationship between trade openness and firms’ choice of vertical structure. We find supportive, firm-level evidence that upon trade liberalization, firms restructure their organization by downsizing their domestic production processes (i.e. domestic vertical disintegration) and relocating their input production plants to other countries (i.e. cross-border vertical integration).     

业绩约束的有限套利:模型拓展与实证检验

通过引入套利者基于风险厌恶的资产配置决策．本文对Shleifer和Vishny（1997）的业绩约束的有限套利（PBA）模型作了扩展。本文的理论模型表明业绩约束的套利者的套利能力所受到的限制远超过SV模型的推断。业绩约束的有限套利从两个角度对套利者的套利能力做了限制：业绩不佳,既使得最终投资者减少对套利者的投资资金。也导致套利者预留更多的现金来满足流动性需求,从而套利者可运用到风险资产上的套利资源减少。利用中国开放式基金数据．本文对这个拓展模型做了实证检验。结果显示。套利者在实际投资中存在着基于风险厌恶的资产配置决策,业绩约束的套利者的套利能力的限制是现实存在的。     

Early Retirement Behaviour in the Netherlands: Evidence From a Policy Reform

In the early 1990s the Dutch labour unions and employer organisations agreed to transform the generous and actuarially unfair early retirement (ER) schemes into less generous and actuarially fair schemes that reward individuals for postponing retirement. The starting dates of these new ER programs varied by industry sector. In this study, we exploit this variation in starting dates to estimate the causal impact of the policy reform on early retirement behaviour. We use a large administrative dataset, the Dutch Income Panel 1989–2000, to estimate hazard rate models for the retirement age. We conclude that the policy reform has indeed induced workers to postpone retirement. Both the wealth effect (lower ER wealth) and the substitution effect (lower implicit taxes on retirement postponement) are significant, the latter being more substantial.     

教育收益率、行业与工资的性别差异:基于西部三个城市的经验研究

本文通过使用扩展的性别工资差异分解方法对中国西部城市的性别行业进入差异和行业内部工资差异进行分解,分析了高等教育回报对行业选择和收入差异的影响。经验研究的基本结果包括:(1)在全部的性别工资差异上,由于男女的禀赋差异引起的可解释部分占差异的57.77%,歧视解释了总差异的42.24%,在歧视部分中,行业进入方面的对女性的歧视就占了1/3强的部分,行业内部的工资歧视占2/3左右;(2)对于受过高等教育的女性来说,存在显著的行业进入方面的不利性别偏向,在行业选择方面,女性的高等教育回报率低于男性。在低收入行业中,女性高等教育和"高中/职高"层次的教育其回报率都显著的高于男性,高收入行业内部则相反;(3)在可解释的行业和工资性别差异中,教育解释了其中的5%左右,并且教育具有显著的缩小行业进入性别差异的作用。在高收入行业内部,高等教育显著缩小了男女工资差异,而在低收入行业内部,高等教育解释力较弱,而经验和健康状况对于这部分差异贡献率较大。     

National and international market integration in the 19th century: Evidence from comovement

This paper analyzes relative wheat price fluctuations to investigate market integration among 72 European and US cities. Applying a Dynamic Factor Model, which has seldom been used in market integration analysis, prices are decomposed into international, national and local components. Thus, national and international market integration are identified by a statistical restriction, and results for each single market are obtained. The first result is that globalization has accelerated faster in the first than in the second half of the 19th century, putting the post-1850 transport revolution into perspective. The USA integrated only later into the European market, discounting the role of the “grain invasion” for trade history. I also show that the European nations that turned protectionist after 1880 reduced the impact of foreign shocks, while free traders fully integrated into the international economy.     

Trans-Tasman Transmission of Monetary Shocks: Evidence From a VAR Approach

This paper investigates the cross-country transmission mechanisms of monetary shocks between Australia and New Zealand within a VAR framework for the period 1985:1–2003:4. The empirical results indicate that a monetary shock in either Australia or New Zealand has real effects in the short-run in both countries however, an Australian shock generates more significant responses of most variables. Australian output is found to be significantly more sensitive than New Zealand output to monetary innovations in either country. The results also suggest that monetary innovations in a small open economy can also influence its larger trading partner.The authors would like to thank Faik Koray and an anonymous referee for their valuable comments. The usual disclaimer applies.