Spread between the Moody’s Aaa-Rated Corporate Bond Yield and the Yield on Municipals: Co-integration Analysis

Atlantic Economic Journal - While the research linking interest rates to government deficits is extensive, the impact of other tax-related variables is uncommon. This study seeks to add to the...     

After the merger: now what?

The advantages of undertaking a linkage strategy are compelling; as more hospitals consider such, the material manager should be poised to capitalize upon strategic advantages afforded by such an occurrence and implement them. The very actions undertaken by this vital position within the organization could very easily determine the degree of success realized by a linkage strategy.     

Freedom and gross in-migration: an empirical study of the post-great recession experience

Determinants of migration, including policy variables such as tax rates, have been extensively studied by regional scientists over the past several decades. The development of the Economic Freedom of North America Index has allowed researchers to test the relationship between migration patterns and economic freedom, with recent studies finding that net in-migration is positively related to economic freedom. Using a new cross-section measure of economic and personal freedom at the state level, we investigate the relationship between gross in-migration and economic freedom on the one hand and then between gross in-migration and total freedom on the other hand. This empirical study of domestic U.S. migration during the post-Great Recession period finds clear evidence that migrants prefer to move to those states affording higher levels of economic freedom and higher levels of total freedom.     

Regionalism in standards: good or bad for trade?

Abstract.  Regional agreements on standards have been largely ignored by economists and blessed by multilateral trade rules. Using a constructed panel data that identifies the different types of agreements at the industry level, we find that such agreements increase the trade between participating countries but not necessarily with the rest of the world. Harmonization of standards may reduce the exports of excluded countries, especially in markets that have raised the stringency of standards. Mutual recognition agreements are more uniformly trade promoting unless they contain restrictive rules of origin, in which case intra-regional trade increases at the expense of imports from other countries.     

2008路易威登“旅行与旅行者”古董箱展

十七件路易威登古董旅行箱展示了路易威登一百五十多年来坚守的精湛传统手工艺和创新追求。旅行精神始终是路易威登的品牌基石,北京奥运会使得全世界的目光都聚焦中国,选择在此时举办古董旅行箱展别具意义。     

Tourism Gears up for the Olympics

Since China has carried out the stricter visa policy from June, there is a popular saying that it will hold foreign visitor back from traveling in China and affect the related industries largely. Is it true or not？ Let＇s observe this issue from the following aspects.     

Embedded collectivism? Workplace representation in France and Germany

In most countries of Western Europe it makes little sense to speak of non‐union employee representation, as this is understood in the Anglo‐American world, for the principle of collective representation independent of the employer is strongly institutionalised. In this article we examine experience in two countries. In Germany, works councils with a wide repertoire of rights typically work in close partnership with trade unions. The system has experienced strains in recent years, and a growing proportion of mainly smaller workplaces are covered neither by councils nor by collective agreements; but there is virtually no evidence of alternative ‘voice’ mechanisms, and systems of direct participation are normally introduced by negotiation with councils. In France, works committees have fewer powers, and a divided trade union movement has been less successful than its German counterpart in ‘embedding’ the legally mandated institutions, at least in the private sector. Despite some common trends in both countries, national distinctiveness remains very apparent. There is growing scope for managerial strategic choice, but this is still institutionally bounded. Much more generally, countries displaying characteristics of a ‘European social model’ can be expected to sustain a close articulation between union and ‘non‐union’ channels of representation.