Managers’ Corporate Entrepreneurial Actions and Job Satisfaction

Through the development and extension of theories and scholars’ subsequent empirical analyses of significant, theoretically grounded research questions, the knowledge about corporate entrepreneurship (CE) and its successful use continues to advance. Moreover, the literature suggests important relationships between the corporate environment, managers’ entrepreneurial behavior and successful implementation of corporate entrepreneurship actions. In an attempt to test some of those relationships, we describe an empirical study of 523 managers that examines the relationships among the antecedents to managers’ entrepreneurial behavior, a decision to implement entrepreneurial actions, and resulting job satisfaction and reinforcement practices.     

Promote Competitive Neutrality to Facilitate China’s Economic Development:Outlook,Policy Simulations,and Reform Implementation-A Summary of the Annual SUFE Macroeconomic Report(2019-2020)

Twenty nineteen(2019)marked another year of lethargic growth in the Chinese economy amidst escalated internal and external complexities.Internally,the country's macroeconomic landscape was overcast continuously by fallen consumption growth,plunged growth in manufacturing investment,rapid accumulation of household debt,risen income inequality,and the overhang of local government debt.The nation's external conditions did not fare any better,with drastically declined growth in imports and exports,continued trade tensions with the US,and weakened external demand.Based on the IAR-CMM model,which takes account of both cyclical and secular factors,the baseline real GDP growth rate is projected to be 6.0%in 2020(5.9%using more reliable rather than the official data),with a downside risk.Alternative scenario analyses and policy simulations are conducted,in addition to the benchmark forecast,to reflect the influences of various internal and external uncertainties.The findings emanated from these analyses lead us to stress the importance and urgency of deepening reform to achieve competitive neutrality for China’s transformation into a phase with sustainable and high-quality development.     

Excise taxes,over-shifting,cross-elasticity,and tax revenue

This article examines cross-elasticity effects in excise taxation for markets characterized by monopolistic competition and over-shifting. Extending the constant elasticity demand model to consider cross-elasticity leads to notably different results regarding tax revenue maximization. With nonzero but weak cross-elasticity effects relative to the price elasticity, we derive a higher optimal tax-price ratio compared to prior research. With strong cross-elasticity, revenue can continually be increased by raising the excise tax. Overall, the study offers government greater incentive to use excise taxes to obtain revenue.     

Increasing returns and unsynchronized wage adjustment in sunspot models of the business cycle

A challenge to models of equilibrium indeterminacy based on increasing returns is that required increasing returns for generating indeterminacy can be implausibly large and rise quickly with the relative risk aversion in labor. We show that unsynchronized wage adjustment via a relative wage effect can both lower the required degree of increasing returns for indeterminacy to a plausible level and make it invariant to the relative risk aversion in labor. Consequently, indeterminacy and sunspot-driven fluctuations can emerge for plausible increasing returns regardless of the relative risk aversion in labor. Our model generates reasonable dynamics in terms of matching the business cycle, and sunspot shocks become more important with labor market friction.     

Gender gap in self‐employment: The role of risk attitudes

This paper examines the link between the willingness to take risk and the gender gap in self‐employment in the transition economy, where for decades entrepreneurship was considered a crime. Using rich data on risk preferences and entrepreneurial activities, we show that male–female risk tolerance differential is the main determinant of the gender gap in self‐employment in Ukraine. The decomposition results indicate that up to 38% of the gap can be attributed to this factor. Robustness tests support the validity of the baseline findings by suggesting that the results are not confounded by such factors as being unemployed before starting a current job, having a self‐employed household member, or living in a relatively wealthy household before transitioning to self‐employment.     

House price dynamics: Evidence from Beijing

To study the house price dynamics in China, this paper extends the traditional life-cycle model by incorporating land supply, regime shifts and government regulation factors. The models are estimated with an error correction framework using quarterly data from 2000 to 2007 in Beijing. The conclusions are as follows. (1) There exits a stable co-integration relationship between house price and fundamentals; land supply and financial regimes are also important determinants of long-run equilibrium house prices. (2) Short-run dynamics depend on changes of fundamentals and the adjustment process of housing market. Land supply has a significant impact on house price fluctuations while demand factors such as user costs, income and residential mortgage loan have greater influences. The adjustment speed of real house prices to the long-run equilibrium has been reduced significantly since 2005 which means exogenous shocks can cause prolonged deviation of real house prices from the equilibrium level.     

Contests where there is variation in the marginal productivity of effort

Summary. We provide a characterization of participants' behavior in a contest or tournament where the marginal productivity of effort varies across contestants and individual productivity is private information. We then consider the optimal design of such a contest. We first analyze contestant behavior for the usual type of contest, where the highest output wins. Abilities need not be independently distributed. We demonstrate that there is a unique symmetric equilibrium output function, that output is increasing in ability, and that marginal effort is increasing in ability, while effort decreases when the cost of effort increases. Next we consider the case where the highest output need not win, with independently distributed abilities. We analyze the contest designer's decisions in choosing contest rules optimal from her perspective. We show that the output produced, probability of winning, and contest designer's expected revenue are generally increasing in contestants' ability. We examine the relationship between the marginal cost of producing output and marginal utility per dollar of the net award for winning. Received: July 30, 1998; revised version: August 7, 2000     

Fertility and Economic Growth: Do Immigrant Maids Play a Role?

A significant source of child-care services in East and South-East Asia are provided by immigrant maids. Using a modified version of the model used in Galor and Weil (1996), the present paper analyses the impact of this source of child-care services on women's labor market participation, fertility behavior and the household purchase of child-care services. The results show that a lower price for the maid service leads to a lower savings rate, a higher demand for children and less time being spent with children. We also find that hiring immigrant maids leads to lower economic growth in the long run.     

Purchasing Power Parity and aggregation bias for a developing country: The case of Mexico

This paper investigates long-run Purchasing Power Parity (PPP) between the US and Mexico. We use a panel of disaggregated price data between the US and Mexico with a long time series to look at two types of aggregation bias. The first is examined in Imbs et al. — which we refer to as estimator aggregation bias — and the second is put forth by Broda and Weinstein — hereafter, data aggregation bias. The findings indicate substantial estimator aggregation bias and data aggregation bias. Although estimates using aggregate data and imposing homogeneous coefficients provide little evidence of PPP, findings with disaggregated data and heterogeneous coefficient estimators offer strong support. The results also suggest the presence of small-sample bias as examined in Chen and Engel, but with little effect on the qualitative results. Tradable goods and non-tradable goods show little distinction in convergence rates. Estimated half-lives are lower under flexible than fixed exchange rates and indicate rapid convergence during the Mexican peso crisis.