Access and use of financial markets for basic education expenses

As a result of the financial crisis of 2008, the macroeconomic adjustment has affected Mexican homes through greater unemployment and a drop in purchasing power. Moreover, families had to keep financing education costs, sometimes going into debt in the formal or informal financial market. The hypothesis of this article proposes that the access and use of formal and informal financial products makes it possible to reduce financial problems associated to education expenses at the basic education levels. The probit model is estimated with a sample comprised of four hundred homes in the municipality of San Pedro Cholula (state of Puebla). The results indicate that a worsening in the work conditions and the loss of employment are associated to a greater probability of facing financial difficulties. Likewise, the access to the formal financial market allows reducing the probability of facing these difficulties, whereas for the informal market the results are a function of the characteristics of each financial intermediary.     

Vettes and lemons on eBay

This paper empirically tests whether there are asymmetric information problems in the market for used Chevrolet Corvettes sold on eBay. The first test is based on a result from Akerlof (Quarterly Journal of Economics, 1970). If there is asymmetric information in the used market, bidders should place a premium on a new Corvette, all else equal. The paper finds little systematic evidence of a new car premium. The second test is based on a result from Bajari and Hortacsu (Rand Journal of Economics 34(2):329–355, 2003). If there is asymmetric information, then bidders will prefer to bid late in the auction in order to conceal their private information from other bidders. The paper fails to find evidence of more late bidding on used Corvettes relative to new Corvettes. The third test is based on the idea that if there is asymmetric information then there may be a winner’s curse problem in these auctions. The paper fails to find evidence consistent with bidders avoiding the winner’s curse. The results are not consistent with asymmetric information problems in the market for used Corvettes sold on eBay. It is not clear however, whether this result generalizes to other cars sold on eBay or cars sold in the off-line market.     

FDI spillovers in new EU member states

Using an unbalanced panel of firm‐level data in Bulgaria, Poland and Romania, we examine the impact of foreign firms on domestic firms’ productivity. In particular, we try to answer the following research questions: (1) Are there any spillover effects of foreign direct investments (FDI), and if so, are they positive or negative? (2) Are spillover effects more likely to occur within or across sectors? (3) Are the existence, the direction and the magnitude of spillovers conditioned by sector and firm‐specific characteristics? Our findings show that FDI spillovers exist both within and across sectors. The former arise when foreign firms operate in labour‐intensive sectors, while the latter occur when foreign firms operate in high‐tech sectors. Moreover, we find that domestic firm size conditions the exploitation of FDI spillovers even after controlling for absorptive capacity. We also detect a great deal of heterogeneity across countries consistent with the technology gap hypothesis.     

Time banditry: Examining the purloining of time in organizations

Time banditry, a variant of counterproductive work behavior, is defined as the propensity of employees to engage in non-work related activities during work time. We extend past research on time banditry in two ways. First, we develop a model of time banditry. It is posited that a significant number of employees engage in time banditry despite their level of engagement with their job and even when productivity levels remain at an acceptable level. Implications of the model are described and testable propositions are developed. Second, we suggest that time bandits as a group are not monolithic, but instead there are at least four types of bandits. Supervisors need to manage each type with different human resource management practices.     

借脑全世界

集思广益才是明智的选择，但如何能在制定策略时汲取全世界的智慧，维基媒体基金会（Wikimedia Foundation，经营维基百科的非营利机构）正另辟蹊径，公开征求策略构想，汲取全世界维基媒体人的智慧。     

De‐industrialization and re‐industrialization in the Middle East: reflections on the cotton industry in Egypt and in the Izmir region

This article presents an investigation of the process of decline and rebirth of textile manufacturing in two Middle Eastern regions, Egypt and the Izmir region, during the first wave of globalization (1850–1914). Through the application of the ‘Dutch disease’ model, it explores the linkages between terms of trade and industrialization. These are further related to the evolution of price transmission between domestic and global raw cotton markets. Findings indicate that different levels of market integration have contributed to diverging trajectories in industrial development in the two regions: while in Egypt the process of de‐industrialization was not reversed, in the Izmir region weaker international price transmission facilitated the creation of a nascent domestic textile industry. However, terms of trade patterns and relative price movements are only one of the causes that can explain the differences between the two regions.     

“Twin deficits” in Greece: in search of causality

Abstract:

The paper discusses the trajectories of the Greek public deficit and sovereign debt between 1980 and 2010 and its connection to the political and economic environment of the same period. We pay special attention to the causality between the public and the external deficits in the period after 1995, the post–Maastricht Treaty period. We argue that, due to the European monetary unification process and the adoption of the common currency, causality ran from the external deficit to the public deficit. This hypothesis is tested econometrically using both Granger causality and cointegration analyses. We find empirical support for this hypothesis.     

哈斯商学院 心理刺激的管理妙用

教你一个管理技巧,它可让你的女性员工发挥最大的潜能:如果你想在重要的商务谈判前激发她们的动力,就和她们谈谈拉里·萨默斯(曾公开发表过“女性先天不足”的言论——编者注)。只不过你可能会发现,这种策略也会带来一些不受欢迎的副作用。     

The impact of external economic disturbances on Yugoslavia: Theoretical and empirical explorations

Within the context of the transmission and response framework this paper analyzes the impact of recent international economic disturbances on Yugoslavia. Included are an analysis of the channels through which these disturbances were transmitted to Yugoslavia, the manner in which they altered domestic price and quantity signals, and the reactions of policy makers. Empirical tests of simple Keynesian and monetarist models of the transmission process are presented. These tests provide empirical evidence on the demand effects, the direct and indirect price effects, and the real-balance effects of international disturbances in the Yugoslav economy.