Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies

We extend the standard textbook search and matching model by introducing deep habits in consumption. This assumption generates amplification in the response of labour market variables to technology shocks by producing endogenous countercyclical mark-ups. The cyclical fluctuations of vacancies and unemployment in our model can replicate those observed in the US data, with labour market tightness being 20 times more volatile than consumption. Vacancies display a hump-shaped response to technology shocks and the numerical simulations generate an artificial Beveridge curve that is in line with the data. Our model preserves the assumption of fully flexible wages for new hires and the calibration is consistent with the estimated elasticity of unemployment to unemployment benefits. Finally, we show that in contrast to models with exogenous mark-up shocks, the deep habits model does not require an implausible variation in the elasticity of demand to match the volatility of labour market variables, and the cyclical properties of the mark-up are in line with empirical evidence.     

THE INTERNALISATION OF ENVIRONMENTAL EXTERNALITIES AFFECTING DWELLINGS: A REVIEW OF COURT CASES IN HONG KONG

In 1960, Ronald Coase suggested that there are many methods to solve the problem of externalities apart from imposing Pigovian taxes. Internalisation is one of those noted in his classic paper, ‘The Problem of Social Cost’. This paper studies the possibility of residents receiving compensation from pollutant generators. Data collected from Hong Kong law reports over the past 20 years show that there is forty‐fold increase in number of water seepage court cases since the first case in 1994. The total amount of compensation has also increased greatly. There are, however, far fewer court cases where residents seek compensation from generators of noise and air pollution. This may reflect a combination of high transaction costs and low expected benefits from such cases.     

How does the entrepreneurial orientation of scientists affect their scientific performance? Evidence from the quadrant model

In order to identify the effect of academic entrepreneurship on science, this work compares the publication performance of entrepreneurial scientists with that of conventional scientists. Using Stokes's ‘quadrant model’, this paper examines how the entrepreneurial orientation affects scientific performance. The results on advanced materials research in Japan found that (i) entrepreneurial scientists publish more papers than conventional scientists do; (ii) the papers of conventional scientists demonstrate better citation performance than those of entrepreneurial scientists do, on average; (iii) coming to the top-cited papers, entrepreneurial scientists show higher propensity for publishing high-impact papers than conventional scientists do; and (iv) the portfolio interdisciplinarity of papers authored by entrepreneurial scientists is higher than that of conventional scientists. Although the influence of academic entrepreneurship on scientific performance is still unclear, our findings suggest that entrepreneurial scientists could make a relatively large contribution to furthering the scientific frontier by relying on innovation rather than convention.     

基于最优配送路线的选址方法研究

分析物流配送中心在运输方面的特点和优点,指出传统选址决策方法忽视配送中心运输方式优势的发挥,无法最大限度降低物流成本.在此基础上提出基于最优配送路线的选址方法,以降低综合物流成本.     

A two-state analysis of estate taxes and charitable bequests from the most generous decedents

This study uses Censored Quantile Regression (CQR) and probate records for the years 2000–2005 to analyze charitable bequests of the most generous decedents from two states, Virginia and Louisiana. We focus on the most generous decedents because they account for a large portion of total charitable bequests. The most generous decedents' charitable bequest tax price (i.e., one minus the marginal tax rate) elasticity is not significantly greater than one in both our full sample and the subsample of the decedents filing federal estate tax returns. Our finding suggests that allowing charitable bequests to be deductible is not a treasury efficient policy for the most generous decedents. We also find that the tax price and wealth effects for the most generous decedents are overestimated by the Tobit model that has been traditionally utilized by prior studies. Furthermore, filers' charitable bequests are predicted to decrease if the estate tax is repealed.     

Organisational justice and customer citizenship behaviour of retail industries

Previous research has concerned itself more with customers' purchasing behaviours but not non-purchasing behaviour. Hence, the purpose of this study is to investigate the organisational justice (OJ) and customer citizenship behaviour (CCB), including the mediating role of organisational trust. A survey was conducted on a sample of 447 fast-food restaurant customers in Taiwan in order to test the proposed model. The findings showed that the customers who have higher perceptions of justice have higher levels of trust and CCB. Positive relationship was found between trust and CCB. In addition, trust has a partially significant mediating effect between OJ and CCB. The findings are discussed in terms of their theoretical and practical implications, and also provide some suggestions for managerial practice and further research.     

高硫高酸原油加工过程对设备腐蚀现象的研究

高硫高酸原油在加工过程中会对生产设备造成腐蚀，而且出现的腐蚀种类多样。只有认识和掌握腐蚀产生的条件和机理才能避免或减少腐蚀的产生。文章详细介绍了氯化物腐蚀、硫化物腐蚀、环烷酸腐蚀产生的条件和机理。     

辅导员角色的本质与优秀辅导员的五大标准

辅导员角色的本质属性即辅导员角色的内涵，它从理论与政策两个方面阐明什么是辅导员，其角色定位是什么，并衍生出其工作范围。在此基础上，提出了新时期辅导员的五大标准。     

MACROECONOMIC STABILIZATION POLICIES IN THE EMU: SPILLOVERS, ASYMMETRIES AND INSTITUTIONS

This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a monetary union in the framework of linear quadratic differential games. A central role in the analysis plays the partitioned game approach of the endogenous coalition formation literature. The specific policy recommendations in the European Economic and Monetary Union (EMU) context depend on the particular characteristics of the shocks and the economic structure. In the case of a common shock, fiscal coordination or full policy coordination is desirable. When anti‐symmetric shocks are considered, fiscal coordination improves the performance but full policy coordination does not produce further gains in policymakers' welfare.