Informal Employment and the Structure of Wages in India: A Review of Trends

The “alternative”, “atypical” or “informal” workforce has grown in developed and developing countries alike. One of the more recent evolutions of informal employment has been of informal employment within formal enterprises. In the interest of flexibility and cost‐reduction, many formal firms increasingly resort to hiring workers on a temporary or informal basis. Alongside, and perhaps, as a result of the persistence and pervasiveness of informal employment, issues relating to inequality have come to the fore. This paper is motivated by these two intertwining aspects of Indian labor market—informality and wage inequality. Using nationally representative sample data, the paper examines trends in wage inequality among various forms of informal workers, overlaying these findings with broader trends in inequality. Using a regression based inequality decomposition, the paper compares the sources of wage inequality across different employment groups and the reasons for differences in wage inequality.     

What is the major determinant of cross-border banking flows?

This study examines the major determinant of cross-border credit flows through global banks across 70 countries. Employing a Bayesian dynamic latent factor model, we decompose volatilities of banking flows into the contribution of a global common factor, regional common factor, and country-specific factor. The results indicate that the global and regional common factor explains about 40–50 percent of volatility in overall cross-border banking flows. In particular, the contribution of the global common factor increased in the 2000s. Simultaneously, main determinants are largely heterogeneous across countries: this implies that the desirable policy response to credit inflows may differ for each host country.     

机构编制电子政务建设模式与对策研究——以河北省为例

为了解决机构编制创新管理问题,提出电子政务建设模式,以河北省为例分析机构编制电子政务建设在观念意识、软硬件环境等方面的问题,提出解决对策,得出合理的机构编制电子政务模式有助于机构改革的结论。     

Evaluating monetary policy with financial stability objective: rules vs. discretion

This article explores whether adding the goal of financial stability to the more traditional goals of output and price stability could improve optimality of monetary policy. A Dynamic Stochastic General Equilibrium model that endogenously incorporates financial frictions is used to derive optimality conditions across rule-based and discretionary monetary policy environments. The results indicate that it is optimal for the Central Bank to keep output below the potential level in the short term so as to dampen the inflationary effects arising from supply and financial shocks. When the economy is exposed to a financial shock, both leverage and credit spread rise significantly, thereby tipping the economy into a financial crisis and raising the probability of macroeconomic risk.     

Inflationary shocks and real output growth in nine Muslim-majority countries: Implications for Islamic banking and finance

Low and stable inflation is important for maintaining the viability of Islamic banking and finance within a dual banking system. Inflationary shocks when transmitted to real output growth cause a shift of investment to fixed return products as a hedge against the uncertainty of returns on equity investment under Islamic profit-loss sharing contracts. This study examines the transmission of inflationary shocks to the real economy for nine Muslim-majority countries (Bahrain, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Pakistan, Saudi Arabia, and Turkey) that have introduced Islamic banking, all except Iran within dual-banking systems. A structural vector autoregressive (SVAR) framework is deployed to understand macroeconomic relationships using annual data from the late 1970s to 2014. The key finding is that inflationary shocks affect real interest and exchange rates which in turn impact real output growth. The paper argues that the absorption of inflationary shocks in real interest and exchange rates is the outcome of rigidities in nominal interest and exchange rates within repressed financial systems. Policy regimes that allow for greater adjustment in nominal interest and exchange rates under a deregulated financial system would offer better shock absorption capacity which would lead to less volatility in inflation, real interest and exchange rates, and real output growth. The resulting more stable macroeconomic environment would be more conducive to the development of an Islamic financial sector that would promote economic growth.     

The Increased Role of Foreign Capital in the Peruvian Financial System

Summary

Foreign investment has played a very important role in developing Peru's banking sector since 1990. Indeed, as of June 1998, half of all bank assets were foreign-controlled. Much of this increased participation by outside entities can be traced to the privatization drive and to discriminatory reserve requirements on domestic deposits. Despite financial deepening, the analysis conducted here finds that the financial sector has not become more efficient in lowering the cost of intermediation as measured by the interest spread between loans and deposits.     

外资银行进入对我国银行业竞争格局的影响

本文以波特的"五力"模型为分析工具,力图分析外资银行进入对我国银行业竞争格局的影响,认为国内银行业在中国加入WTO之后面临着外资银行进入的竞争挑战。因此,国内银行业要实施创新,提高创新能力,从而提高竞争力。     

提高网络银行安全的思考与建议

网络交易的便利性吸引了众多的网民开通网上银行服务,但是网络银行的安全性却一直被网民所怀疑。网民在网络交易时往往会担心:网上银行到底安全吗?该怎样安全使用网银?本文根据作者平时使用习惯,分别从电脑系统安全、网址或产品选择以及个人网银使用三个方面来探讨如何提高网络银行安全。     

杠杆率指标在银行监管中的应用探讨

资本充足率指标在金融衍生产品被大量运用的情况下存在一定的失灵现象,监管部门需要配合运用其他指标联合监测银行机构的资本充足水平。杠杆率指标自身具有的一些特点使其适合成为资本充足率补充性指标,其运用可能对银行经营产生一定影响。为了提高杠杆率指标监管的有效性,可以通过尝试建立揭示不同资产风险特征的杠杆率指标体系,关注杠杆率监管的整体性、差异性、动态性和持续性等方式,对杠杆率监管进行完善。