Globalization,labour markets and human resources in Asia-Pacific economies: an overview

Abstract This article argues that the impact of globalization on labour markets and human resources on the Asia-Pacific economies may be recognizable but is as yet relatively limited. The sheer variation of geography, population, economies, labour markets, IR and HRM systems there, as well as of values and the like, makes it difficult to talk of 'hard convergence'. We thus emphasize the notion of 'soft convergence'. The article develops a number of empirical propositions regarding the uneven impact of globalization on economies in the region. It concludes that any generalization on this theme should be greatly qualified.     

Information markets, product markets and vertical merger

In many markets, firms have the option of advertising at price comparison sites to broaden their market reach. Such sites are often controlled by profit-maximizing “information gatekeepers” charging advertising fees. This paper considers vertical merger between such a monopoly information gatekeeper and a firm in the product market. We find that: (i) If the integrated firm can act as a price leader before independent firms make advertising and pricing decisions, then the merger is profitable. (ii) If the integrated firm cannot move first, then the merger is unprofitable, or divestiture is optimal in the case where the firm has already created the gatekeeper. As a result, the merged entity has an incentive to invest in technologies to support a price leader.     

General equilibrium in markets for lemons

This paper studies exchange economies in which agents have differential information about the goods that the other agents bring to the market. To study such a setting, it is useful to distinguish goods not only by their physical characteristics, but also by the agent that brings them to the market. Equilibrium is shown to exist, with agents receiving the cheapest bundle among those that they cannot distinguish from the truthful delivery. An example is presented as an illustration.     

Defence markets

Although defence is a classic example of a public good, there are extensive opportunities for applying market solutions to the armed forces and defence industries. There are possibilities for beneficial inter-service rivalry and for creating profit centres within the armed forces; substitution is possible between parts of the armed forces, and competition can be used for purchasing weapons and for market-testing activities traditionally undertaken'in-house'by the armed forces. The analysis has implications for the UK strategic defence review.     

A mechanism for thawing the credit markets

This paper describes a mechanism designed to induce commercial banks to increase their willingness to extend loans in an economic environment characterized by increased uncertainty and diminished expectations. This mechanism is a new tool for the conduct of monetary policy to combat recessions.     

Extreme value analysis for emerging African markets

For the first time, an extreme value analysis is provided for financial data from Africa. The results of analysis show evidence of emerging economies in Africa.     

Matching markets and cultural selection

Review of Economic Design - We study the implications of two different matching mechanisms: bargaining in match (BIM) and binding agreement in the matching market (BAMM) in the context of cultural...     

期望效用理论的确定性等价方法

本文说明不确定性选择的von Neumann-Morgenstem期望效用理论的实质是对每一种不确定性选择定义其确定性的等价,从而把不确定性的问题转化为确定性问题进行讨论。我们引入三个新的公理,来说明确定性等价的描述方法。这一方法与原来的理论是完全一致的,能更加直观,更清楚地说明问题的实质,并且可以直接推广到连续的情形。     

欧元对我国金融市场的影响分析

欧元从最初构想到进入正式流通历经坎坷,终于成功统一了欧洲多国的货币。在过去半个世纪中,国内、外学者提出并发展了关于最优货币区、国际货币体系改革和金融市场一体化等方面的多项理论,欧元的出现为这些理论提供了一个绝佳的验证机会。文章旨在研究欧元诞生后对国际金融市场以及对我国金融市场的影响。     

emerging stock markets

Are stock markets important in underdeveloped countries? Guy Galletly, an economics master at Eton, argues that stock exchanges in Less Developed Countries have a key role in promoting economic growth.     

Testing for predictability in equity returns for European transition markets

This paper presents empirical evidence of short and long-run predictability in stock returns for European transition economies. We employ variance ratios with a bootstrap methodology to test for short-run predictability, which is present in most countries. We also estimate Hurst exponents to test for long-range dependence, and find evidence of such. Furthermore, we find evidence of strong time-varying long-range dependence in these economies stock returns, which is in line with evidence of multifractality of equity returns.     

一种不确定环境下供应链的模型与算法

供应链管理作为一种新型的企业关系管理模式在现代市场竞争中为企业生存与发展提供了一种工具。本文针对不确定环境下供应链的优化进行了研究。给出了一个供应链的仿真模型及其优化算法。     

Illicit drug markets and economic irregularities

Markets for illicit drugs present an interesting case study for economics, combining non-standard characteristics such as addiction and product illegality. One response has been to argue the generality of economic principles by suggesting that they apply even in the extreme case of markets for addictive substances, e.g., by showing that demand for illicit goods is responsive to price [1] [Reframing health behavior change with behavioral economics. Hillsdale, NJ:Lawrence Earlbaum Associates; 2000. p. 89-111.] and even by modeling addiction as rational [2] [J Political Econ 1988;96:675-700]. This paper sketches examples of an alternative reaction, focusing on idiosyncrasies of drug markets that might plausibly create counter-intuitive effects, including supply curves that slope downward because of enforcement swamping and/or a good serving as the only available store of wealth for its producer, demand reduction programs that increase demand, and consumption by “jugglers” possibly increasing rather than decreasing as prices rise. This analysis yields non-obvious policy recommendations; for example, source country control programs should concentrate on growing regions with a healthy banking sector.     

需求量不确定条件下单台机生产调度问题

研究了需求量不确定条件下带有交货期窗约束单台机的生产调度问题,模糊需求用三角模糊数来表示,模糊交货期用半梯形模糊数来表示,建立了以满意度最大作为优化目标的模糊调度数学模型,并给出了基于遗传算法的优化方法,通过仿真试验验证了方法的有效性。     

Implications of the Bosman ruling for football transfer markets

This paper seeks to assess the implications of the 1995 Judgement of the European Court of Justice on the case of Jean-Marc Bosman for the operation of football transfer markets. Although it is inevitable that many more out-of-contract footballers will be able to move between dubs without payment of transfer fees to the selling club, it is argued that there remains a role for transfer markets in professional football, with compensation to selling clubs for training, development and replacement of players.     

Estimating household demand for housing attributes in rent-controlled markets

We estimate the household’s marginal willingness to pay for housing attributes in the rent-controlled sector, so where rents are not freely market determined. The application of hedonic price approaches to obtain estimates of the household’s value of housing characteristics is then invalid. We apply an alternative estimation approach based on residential mobility. In our application, we focus on the households’ willingness to pay for number of rooms as well as the willingness to pay to avoid a long commuting distance. Our estimates appear plausible. For example, for households in the rent-controlled sector are willing to pay about 7% of their household income for an additional room. The implied marginal costs of commuting are about €0.17–€0.23 per (one-way) kilometre.