The effects of location-based tax policies on the distribution of household income: Evidence from the federal Empowerment Zone program

Location-based tax policies are redistributive as evidenced by their placement in distressed areas. However, the previous literature has focused on mean effects which can mask important effects that the program has on the distribution of households. Therefore, we extend the literature by studying changes in the entire household income distribution, in the context of the federal Empowerment Zone (EZ) program. We do not find evidence that the impoverished residents benefited from the program. Our findings are consistent with the areas becoming more attractive to high-income households. The improvements in the areas were concentrated in those portions of each zone that were relatively better-off prior to EZ designation. The results confirm the prior literature findings that the areas, on average, became more attractive but also suggest that the benefits of the program likely did not accrue to the lower-income residents of the EZ areas.     

Value co-creation in sustainable tourism: A service-dominant logic approach

To mainstream sustainability, we need to understand the value gained from sustainability by users. We apply a user-centred design methodology to develop an agile, iterative, incremental and reflexive process to understand the sustainability value proposition for Lufthansa City Center travel agents. We analyse the failure of sustainability communications within the online platforms used by these agents and explore why the agents factor out sustainability information during the customer sales process. We identify how agents and customers understand sustainability, and we explore opportunities to co-create sustainability value. Furthermore, we prototype, and then test, methods of empowering travel agents to communicate sustainability to their customers as a value-adding proposition.     

Bancarization and violent attacks from guerrilla and other illegal groups in Colombia

Income shocks affect violence through the opportunity cost and rapacity effects. Existing studies focus on the impact of transitory shocks, especially commodity price innovations. This paper builds on this literature and studies the causal effect of permanent income shocks on armed conflict in Colombia. Using a rich dataset reporting all guerrilla and other armed groups' attacks by municipality between 2009 and 2014 and information on the provision of banking services, it shows that increasing bancarization leads to reductions in violence. These results have important implications for public policy in countries with a long history of violence. They suggest that promoting financial inclusion is useful for reducing conflict.     

The legitimacy of subsidiary issue selling: Balancing positive & negative attention from corporate headquarters

We consider how in issue selling, subsidiaries draw on different forms of legitimacy to attract corporate headquarters’ (CHQ) positive attention and minimise negative CHQ attention. Through case study evidence, we find that directing CHQ attention to subsidiary issues needs to be executed as a balancing act through forms of subsidiary legitimacy, namely; the personal legitimacy of key individuals at the subsidiary; consequential legitimacy vis-à-vis peer subsidiaries; and linkage legitimacy in the local environment. We develop a typology of subsidiary issue-selling roles and illustrate how negative CHQ attention results from a failure to legitimise issue selling.     

经济发展方式转型与经济软实力空间分布关联研究——以河南18个省辖市区域为例

经济软实力是决定经济发展方式转型的关键因子,经济软、硬实力的不同配置决定经济发展方式类型。经济软实力不仅内在具有推动经济发展方式转型的能力,而且还具有实现其转型的内在机理。通过河南省区域经济软实力空间分布及其与区域发展指数关联的实证分析,证明以提升经济软实力促进区域经济发展方式转变是经济发展的一种必然规律。     

Separate when equal? Racial inequality and residential segregation

This paper sets out a new mechanism involving the emergence of middle-class black neighborhoods that can lead segregation in American cities to increase as racial inequality narrows. The formation of such neighborhoods requires a critical mass of highly educated blacks in the population, and leads to an increase in segregation when those communities are attractive for blacks who would otherwise reside in middle-class white neighborhoods. To assess the empirical importance of this “neighborhood formation” mechanism, we propose a two-part research design. First, inequality and segregation should be negatively related in cross section for older blacks if our mechanism operates strongly, as we find using both the 1990 and 2000 Censuses. Second, a negative relationship should also be apparent over time, particularly for older blacks. Here, we show that increased educational attainment of blacks relative to whites in a city between 1990 and 2000 leads to a significant rise in segregation, especially for older blacks, and to a marked increase in the number of middle-class black communities. These findings draw attention to a negative feedback loop between racial inequality and segregation that has implications for the dynamics of both phenomena.     

“五年规划”该规划什么,不该规划什么?

在市场经济条件下，政府制定规划的基本作用与思路为“研判未来趋势，提出发展愿景，规划政府任务”，对市场进行“负面清单管理”，对政府进行“正面清单约束”。政府应提高治理能力，努力把自己该做的事做足、做好，少搞产业政策，减少对市场干预，做真正体现小政府、大市场、由市场起决定性作用的规划。     

Planning the delivery of relief supplies upon the occurrence of a natural disaster while considering the assembly process of the relief kits

Models for the distribution of relief supplies often assume immediate availability of relief items upon the occurrence of a natural disaster. However, such an assumption does not always apply in realistic settings. In some cases, at least it is necessary to assemble relief items into kits before distributing them among the affected population. This paper presents a rolling horizon methodology that considers dynamic parameters such as demand, capacities and demand priorities for the problem of distributing relief supplies after the occurrence of a natural disaster by including such assembling activities before the delivery.     

Extendible stock loan

In this paper, the model of extendible stock loan with forbearance is proposed. The loan is extendible, so as to prevent immediate losses or to prevent subsequent price drop; while the forbearance is granted only when the pledged share’s value is above threshold, so as to mitigate the risk-taking behavior induced by the extension. The non-synchronization of the liquidation of insolvent stock loans also alleviates the downward leverage spiral in a market downturn. Numerical analysis shows that fair extendible stock loan rates increase with the forbearance level as well as extension period, and loan rates are quite sensitive to the change of asset volatility and debt ratio. For lenders waiving the interest rates during extension period, their burden grows with extension rapidly when they grant looser forbearance and when asset volatility or loan-to-value is higher. Some suggestions are made accordingly. First, lenders offering uniform extendible loan rate can let borrowers choose between looser forbearance with shorter extension, or tighter forbearance with longer extension. Second, if the loan rate is priced fairly, lower margin requirement can only be accomplished with tighter forbearance. More looser forbearance worth higher rates.     

家电下乡财政补贴分配机制研究

家电下乡财政补贴是国家引导消费、扩大内需的一项惠民政策。财政补贴是在农民和供应者之间进行的分配,在短期内双方获得的财政补贴与供给曲线的斜率成反比,并且是通过家电的涨价得以实现;中长期内则是由财政补贴家电下乡扩大内需和创造供给两方面的作用的博弈,通过供求曲线的移动实现。通过对财政补贴去向及其影响因素的分析,揭示农民受益、扩大内需、下乡效果三者之间的关系。