美国会不会成为下一个希腊——谈美国金融监管改革

5月20日,美国参议院通过了金融监管改革方案。奥巴马政府选择在此时着手金融监管改革,一个重要的原因,是为了捞回在医改中丢失的政治资本,为赢得中期选举做准备     

How Choice Experiment Design Affects Estimated Valuation of Use of Gestation Crates

This study utilises a split‐sample experimental approach where six different choice experiment designs that vary in the number of attributes are used to control for the effects of design dimensions and consumer inferences in assessing consumer demand. Our application is in the use of gestation stalls (crates) in pork production. Our findings suggest that effects of both the mixture of attributes included in the design and consumer inferences on the specific attributes presented in experiments influence estimated willingness‐to‐pay and consumer welfare. Implications are that when researchers limit their studies to the use of a unique choice experiment design, resulting willingness‐to‐pay estimates might not be robust to different specifications.     

Industrial Dispute Tactics in Australian Manufacturing

Industrial action has been the subject of considerable economic research, but most research has focused exclusively on strikes and has ignored the fact that workers can use tactics other than strikes in resolving disputes. The fact that workers engage in forms of industrial action other than strikes raises important questions: What determines the incidence of nonstrike action, and how do these determinants compare with strikes? This article uses a recently developed dispute‐level data set of both strike and nonstrike actions in Australian manufacturing to analyze determinants of the incidence of two types of industrial actions: strikes and work bans. Work bans are actions where workers refuse to engage in certain specified tasks such as overtime but otherwise remain on the job. Evidence is found that the incidence of work bans is affected by changes in economic and institutional conditions in significantly different ways than strikes.     

人民币问题并非表面那么简单

美国国会希望通过一项法案，惩罚那些被判定为货币汇率过低的国家。该法案直接针对中国。但它有助于解决中美贸易不平衡的问题吗？     

The Spillover Effects of Industrial Action on Firm Profitability

While it is generally accepted that strikes can have a negative impact on a firm's performance, the direct effects of a strike on the affected firm may be only one component of the total impact resulting from the action. The existence of indirect or spillover effects can also have important implications for the economic performance of competing firms. This paper uses a panel of firm-level financial and strikes data for a large sample of firms in Australian manufacturing to determine the extent of direct and spillover effects of industrial action.     

Healthy lifestyle and safety: An expected net benefit approach to seat belt use

This paper examines the relationship between motorist safety belt use and three lifestyle behaviors affecting health. A healthy lifestyle affects benefits of seat belt use because it indicates a greater value on safety. If individuals are rational in their behavior, we expect consistency across health and safety choices. Using a nationwide survey sample and logit analysis we find lifestyle has expected effects on belt use holding constant individual and vehicle characteristics. Illustrations for two different lifestyles are considered: (1) smoking 1 pack per day, 2 years between dental visits, and no regular exercise and (2) no smoking, 1 year between dental visits and regular exercise. Healtiher lifestyle increases the probability of seat belt use by more than 50% for typical individuals     

The Growing Localness of the Canadian City, or, On the Continued (Ir)relevance of Economic Base Theory

The past 50 years have brought massive changes in the patterns of economic activity around the world. Not only has global trade increased, but, precisely because of this, many scholars suggest that local (and regional) networks of production and exchange have become more prevalent and important. The nature of local economic development has, as a result, changed quite substantially. And yet theoretical approaches to it largely have not. Fifty years after Douglass North introduced economic base theory - asserting that economies grow only through increased exports - it remains the familiar refrain, if not the basis, of local economic development theory. We think it is about time to reassess the merits of base theory as an approach to, and explanation of, local economic development. Accordingly, in this article, we review briefly North's argument for base theory and the debate it stirred up early on. Then we present two evaluations of its current relevance. The first is theoretical: we consider whether changes in the patterns of economic activity in the global north, including the emergence of local/regional networks of production and exchange and the growth of consumer services, have made it possible to achieve economic growth without increasing exports. The second is empirical: using the minimum requirements method, we examine whether the economies of Canada's cities have become more locally oriented and, if so, whether they have grown. Both evaluations indicate that economic development is indeed possible through increased local activity (although exports remain important). We conclude that it is time to consider more nuanced models of local economic development that accommodate the multiple ways in which development can be achieved.