When a Gain Comes at a Price: Pay Attitudes after Changing Tier Status

This study compares attitudes toward pay and work of employees who changed from the high tier to the low tier after transferring jobs from low-to high-paying departments with those who similarly transferred but did not change tiers. The former had lower Pay Satisfaction than the latter, but they did not differ in Job Satisfaction and Union and Employer Commitment. The findings suggest that the change-tier employees' loss of high-tier status was a likely reason for their pay dissatisfaction.     

ON THE CONSUMPTION TAX AND THE TAX TREATMENT OF BEQUESTS IN DIFFERENT MODELS OF BEQUEATHING BEHAVIOUR*

The tax treatment of bequests under the consumption tax policy is studied in two models of bequeathing behaviour, a model where the parent cares about the bequest itself and a model where the parent cares about the welfare of his offspring instead. It is shown that the two models make precisely opposite predictions of the effects of the consumption tax including the conditions under which the tax is neutral, the differential incidence of the tax in a closed economy when it is non-neutral, and the international transmission effect of the tax when it is non-neutral.     

世贸组织谈判对高端产业的影响

很高兴能参加这次会议并有机会与诸位交流。在当前世贸组织自由化谈判进程继续推进的背景下，结合今天会议的主题，我的演讲将主要围绕世贸组织谈判和世贸组织协议对高科技产品和服务所产生的影响展开。     

EMPIRICAL IMPACT OF PUBLIC INFRASTRUCTURE ON THE JAPANESE ECONOMY*

We study the impact of public capital investment on individual sectors of the Japanese economy using time‐series data for the period of 1970–1998. We employ a production function approach and also estimate a dynamic VAR/ECM model. We find significant differences in the employment effects, output effects and private investment effects across sectors. Public capital investment has a positive effect on employment in the finance, insurance and real estate (FIRE), manufacturing, construction and utilities sectors; on private investment in the FIRE, agriculture, transportation, trade and services sectors; and on output in the mining, FIRE, trade and manufacturing sectors.     

Use of Food Pantries and Food Stamps in Low‐Income Households in the United States

Using the Current Population Survey data for 1999, a bivariate probit model was estimated to determine food stamp and food pantries participation for low‐income households. Household income, the level of food insecurity, household structure, and metro versus nonmetro residence affected participation decisions in both programs. Shorter application forms for food stamp benefits encouraged food stamp participation. Food Stamp Program participation and food pantry use were found to be positively correlated.     

SHORT‐RUN AND LONG‐RUN DETERMINANTS OF THE REAL EXCHANGE RATE IN MEXICO

This paper explores the real exchange rate behavior in Mexico from 1960 until 2005. Since the empirical analysis reveals that the real exchange rate is not mean reverting, we propose that economic fundamental variables affect its evolution in the long run. Therefore, based on equilibrium exchange rate paradigms, we propose a simple model of real exchange rate determination, which includes the relative GDP per capita, the real interest rates, and the net foreign assets over a long period of time. Our analysis also considers the dynamic adjustment in response to shocks through impulse response functions derived from the multivariate vector autoregressive (VAR) model.     

GOVERNMENT SUPPORT FOR PROFIT SHARING, GAINSHARING, ESOPs, AND TQM

Empirical evidence suggests that profit sharing, gainsharing, employee ownership, worker participation, and Total Quality Management (TQM) may increase productivity and firm performance. Nevertheless, one needs to ground the case for government intervention in support of each of these programs on arguments concerning externalities or merit goods. This paper argues that no one yet has offered a convincing case of this nature. It also discusses the U.S. government's support for ESOPs and suggests reasons for its disappointing results in the hope that future policy experiments will not repeat these mistakes.