The Asian Crisis and Economic Change in China

During the Asian crisis, China's healthy reserves and low debt helped avoid a "country run", yet China did experience an apparently autonomous rise in private savings, a rise in capital outflow and a slowdown in growth. We employ global general equilibrium analysis to examine the relative contributions of external and internal shocks in China during the crisis. The savings rise appears to have been dominant domestically and, by coincidence, was a significant contributor to the international effects of the crisis. The successful defence of fixed US$ parity, however, made the combined shocks more contractionary than if the exchange rate regime had been more flexible. JEL Classification Numbers: C68, E65, F41, O11.     

On Market Games When Agents Cannot Be in Two Places at Once

We consider markets in which agents supply their time or the services of a capital good and the duration of the market is limited. We show that a coalitional game can be generated by such a market if and only if the characteristic function of the game is superadditive. Journal of Economic Literature Classification Numbers: C71, D51.     

Openness, Technological Change and Labour Demand in Pre-Crisis Indonesia

This paper examines the impact of export orientation, import competition, foreign ownership and the rate of capital accumulation on the relative demand for skilled and unskilled labour in pre-crisis Indonesia. Estimates from an interrelated factor demand analysis indicate that openness and foreign ownership, by themselves, acted to raise the relative demand for unskilled workers in the pre-crisis period, while the newness of capital was associated with increased relative demand for skilled workers. Overall, the relative demand for unskilled workers increased yet their relative wage position weakened. These contrasting relative employment and wage changes are consistent with the examined demand shocks and the greater elasticity of supply of Indonesian unskilled relative to skilled labour.     

Emotional intelligence,job satisfaction,well‐being and engagement: explaining organisational commitment and turnover intentions in policing

This study examines the effect of emotional intelligence upon the job satisfaction, well‐being and engagement of police officers in explaining their organisational commitment and turnover intentions. Survey responses from 193 police officers in Australia were analysed using partial least squares path modelling. As predicted, emotional intelligence leads to job satisfaction and well‐being, with positive path relationships leading to employee engagement and organisational commitment, thereby affecting turnover intentions. Organisational commitment was found to partially mediate the causal relationship between employee engagement and turnover intentions. The findings of this research have important theoretical and practical implications for police officer retention.     

The Asian Recession and Northern Labour Markets

The Asian recession saw an increase in the volume of mainly manufactured Asian exports. Other things equal, this would have disadvantaged the labour intensive end of northern (mainly USA and EU) manufacturing and hence the northern manufacturing workforce. Central to the crisis, however, was a redirection of investment away from Asia to the north, raising northern aggregate demand and hence employment in northern services. This paper examines the magnitudes of these two effects in a broader analysis of the real impacts of the Asian recession that is grounded in a global general equilibrium framework. Northern workers are found to be net beneficiaries in both the short and medium run.     

Air pollution and the housing market: A neural network approach

Using the neural network method, this research explores the impact of total suspended particulate (TSP) and sulfur dioxide (SO₂), two major air pollutants, and of air pollution controls on the median real price of housing in Jacksonville, Florida. The results of this case study confirm the adverse effect of air pollution on the price of housing. The simulation of the model further suggests that pollution control measures improve property values. The findings imply that, in addition to other measures influencing the price of housing, property owners and buyers take air pollution and pollution controls into account.