LABOR MOBILITY OF IMMIGRANTS: TRAINING,EXPERIENCE, LANGUAGE,AND OPPORTUNITIES*

This article analyzes the labor mobility and human capital accumulation of male immigrants from the former Soviet Union to Israel. We estimate a dynamic choice model for employment and training in blue‐ and white‐collar occupations, where the labor market randomly offered opportunities are affected by past choices. The estimated model accurately reproduces the patterns in the data. The estimated direct earning return to local training, local experience, and knowledge of Hebrew are very high, whereas imported skills have zero (conditional) return. The welfare gain from the impact of training on job offer probabilities is larger than its effect on wages.     

中国亟待创建期货投资基金

如何加快期货创新步伐,以十五规划提出的“稳步发展期货市场”为宗旨,推动我国期货市场的持续健康发展,以适应国民经济发展的需要,已经成为当前的一项重要课题,其中积极培育机构投资者,发展期货投资基金是创新发展的一项重要选择。     

国外反倾销及企业的策略

当前,反倾销成为发达国家和发展中国家实行贸易保护的政策选择和主要手段之一。本文综述倾销与反倾销的概念和主要表现形式,针对国外反倾销及其影响,提出国内企业应对国外反倾销的对策和建议。     

中美贸易不平衡问题探析

中美之间客观存在的贸易不平衡是当代国际产业分工和两国比较优势差异的结果,美国的对华技术出口限制更加恶化了两国之间的贸易不平衡。但这并不意味着贸易利益自然地倾向于贸易顺差一方。中国对美国出口的大量质优价廉商品使低储蓄率的美国获得了贸易利益,缓解了美国的通货膨胀压力,又使美国获得了不菲的铸币收入。     

领导愤怒表达如何影响员工创新过程投入——一个被调节的链式中介模型

基于EASI模型,结合情绪认知评价理论,构建中国组织情境下领导愤怒表达通过组织支持感与职场焦虑影响员工创新过程投入的链式中介模型,探讨正念的边界条件。研究结果表明：领导愤怒表达对员工创新过程投入具有负向影响;组织支持感和职场焦虑分别在领导愤怒表达对员工创新过程投入的负向影响中起中介作用及链式中介作用;员工正念通过缓和职场焦虑对创新过程投入的负向影响,进而调节组织支持感与职场焦虑的链式中介作用。该研究不仅有助于丰富领导愤怒情绪研究,也可为组织管理者完善情绪表达策略提供启发。     

Mortgage lending,monetary policy,and prudential measures in small euro‐area economies: Evidence from Ireland and the Netherlands

This paper examines whether the increased use of macroprudential policies since the global financial crisis has affected the impact of (euro‐area and foreign) monetary policy on mortgage lending in Ireland and the Netherlands, which are both small open economies in the euro area. Using quarterly bank‐level data on domestic lending in both countries for 2003–2018, we find that restrictive euro‐area monetary policy shocks reduce the growth of mortgage lending. We find evidence that stricter domestic prudential regulation mitigates this effect in Ireland, but not so in the Netherlands. There is some weak evidence for an international bank lending channel that can be mitigated by stricter lender‐based domestic prudential regulation.     

Total‐Factor Energy and Emission Efficiencies of ASEAN and Other Asian Economies

This research uses the slack‐based measure data envelopment analysis to compute the energy and emission efficiencies of Association of Southeast Asian Nations (ASEAN) and other Asian economies during the 2001–2017 period, employs the Malmquist productivity index to check for the main source of efficiency score changes due to technical changes, and then applies panel Tobit regressions to determine the factors explaining the efficiencies. Our empirical results show that the energy efficiency scores of ASEAN economies had been catching up to other Asian economies after the Global Financial Crisis, whereas the emission efficiency scores of various ASEAN economies had been falling behind other Asian economies over the same period. The main source of efficiency score changes over time is efficiency changes and not technical changes. Decreases in the fossil fuel ratio of net electricity generation and the secondary industry ratio within total industry improve both lead to improvements in energy and emission efficiencies.     

Natural resources,technological progress,and economic modernization

The present inquiry focuses on the modernization perspectives of the commodity‐exporting countries through the lens of development economics. To this end, the study adopts the Kaldorian framework to address the modernization effects, epitomized in the absorption of surplus labor. To trace the process of economic modernization, the study augments Lewis’s dualistic economy model by the extractive sector. Three different scenarios for the management of resource revenues are scrutinized. An altruistic mode, which implies a pure redistribution of the revenues among the poor swaths of the population, protracts the process of economic modernization, requires a greater amount of capital stock, and harbors a greater risk of a poverty trap. This effect is less pronounced if the modern sector is more capital‐intensive. A productive mode, which elicits full reinvestment of the commodity revenues, in contrast, accelerates the pace of economic modernization. Further, predicated on the scrutiny of a more realistic scenario, a bargaining mode, the study derives the condition for a net positive (or negative) modernization effect. The study identifies technical progress alongside capital accumulation as a further important source of economic modernization.     

ENTREPRENEURSHIP AND INCOME DISTRIBUTION DYNAMICS: WHY IS THE INCOME SHARE OF TOP INCOME EARNERS ACYCLICAL OVER THE BUSINESS CYCLE?

In the United States, the income share of the top 5% income group is acyclical over the business cycle. This study attempts to explain the cyclical behavior of the income distribution over the business cycle, particularly focusing on the top 5% income earners' share, using a heterogeneous agent model featuring a choice to become an entrepreneur. The model economy successfully reproduces the acyclical behavior of the income share of the top 5%. During expansions, relatively more people become entrepreneurs at the top, which offsets the decline in the income share of the high‐income earners from workers' side.     

Country asymmetry,trade agreements,and transfers

Using a standard 2 × 2 trade agreement model, I show that the welfare effects of a free trade agreement (FTA) depend on the asymmetry on supply and demand functions. When countries are sufficiently asymmetric with respect to the size or the demand functions, the small country tends to be better off, while the large country is worse off. Thus, the small country must compensate the large country for the FTA to be incentive‐compatible. However, in the presence of sufficient asymmetry in the supply functions, the small country is worse off, while the bigger is better off. In this case, the transfer must flow from the large to the small country. This last finding helps explain why some FTAs between rich and poor countries provide for adjustment transfers to the latter.