Neighborhood quality and labor market outcomes: Evidence from quasi-random neighborhood assignment of immigrants

Settlement in a socially deprived neighborhood may hamper individual labor market outcomes because of lack of employed or highly skilled contacts. I investigate this hypothesis by exploiting a unique natural experiment that occurred between 1986 and 1998 when refugee immigrants to Denmark were assigned to municipalities quasi-randomly, which successfully addresses the methodological problem of endogenous neighborhood selection. I show that individuals sort into neighborhoods. Taking account of location sorting, living in a socially deprived neighborhood does not affect labor market outcomes of refugee men. Their labor market outcomes are also not affected by the overall employment rate and the overall average skill level in the neighborhood. However, an increase in the average skill level of non-Western immigrant men living in the neighborhood raises their employment probability, while an increase in the employment rate of co-national men living in the neighborhood raises their real annual earnings. This provides quasi-experimental evidence that residence-based job information networks are ethnically stratified.     

Systemic risk and dynamics of contagion: a duplex inter-bank network

This paper constructs a duplex banking network formed by credit relationships and information interaction via the banks’ balance sheet to model the structure of systemic risk and investigate the dynamic mechanism of contagion in terms of default and liquidity infection along with the factors that affect the extent of the contagion. We systematically explain the role that duplex banking networks play in different aspects of risk contagion. Through theoretical analysis and simulations, we conclude that asymmetric information interaction would increase the inflexibility of the system, which leads to liquidity shortage and possibly the collapse of the whole market. The weakness of systemic risk in the interior of the complex banking system can be characterized by the partial discount factor using illiquid assets in the information network. By improving the connectedness of the information network of the duplex networks, the spread of contagion can be partially slowed.     

国有煤炭企业收入分配制度改革研究

分析了煤炭行业作为传统行业,内部收入分配制度中存在的整体收入水平偏低、平均主义倾向以及收入分配关系不合理等主要问题。并针对这些问题明确了收入分配制度改革的总体思路,提出调整收入分配模式、理顺收入分配关系、强化收入分配基础及配套工作等改革措施,对国有企业收入分配制度改革有一定的借鉴意义。     

亚热带地区国有林场可持续经营指标体系研究

通过实地调查研究,借鉴已发布的国际、国家、地区、经营单位层面森林可持续经营标准和指标,以森林可持续经营为主要内容,对亚热带地区国有林场森林经营、人力资源、社会资源等方面进行研究,构建出亚热带地区国有林场可持续经营指标体系,为亚热带地区国有林场可持续经营提供理论借鉴,期盼为制定亚热带地区森林可持续经营指标提供借鉴。     

Dynamics of female labour force participation in France

This article formulates and estimates a structural intertemporal model of labour force participation. Relying on theoretical characterizations derived from an economic model of lifetime behaviour, we estimate a dynamic probit model with correlated random effects using longitudinal data to allow for a dynamic structure. The model is applied to a panel of married women drawn from the 1997–2002 French Labour Force surveys in order to represent their participation behaviour. It is estimated by maximum simulated likelihood. Our results show that women’s decisions to go out to work are characterized by significant state dependence, unobserved heterogeneity and negative serial correlation in the transitory error component. In addition, we find that the presence of young children in a woman’s household reduces her labour participation, but unequally according to their age and number. As expected, educational level has a positive impact on women’s participation. Last, a rise in the husband’s wage is found to raise female participation initially and to lower it subsequently. This empirical finding suggests that leisure may not systematically be a normal good, contrary to what is frequently assumed in the literature.     

模糊层次分析法优化BP神经网络的交通冲突预测模型

本文通过全面剖析影响交通冲突的原因,以交通流量、道路几何设计和道路环境三方面的因素建立指标层次结构体系。提出基于模糊层次分析(FAHP)法优化BP神经网络(BPNN)的预测模型,应用于交通冲突预测。     

The indirect effects of foreign direct investment on trade: A network perspective

The relationship between international trade and foreign direct investment (FDI) is one of the main features of globalisation. In this paper, we investigate the effects of FDI on trade from a network perspective, since FDI takes not only direct but also indirect channels from origin to destination countries because of firms’ incentive to reduce tax burden, to minimise coordination costs and to break barriers to market entry. We use a unique data set of international corporate control as a measure of stock FDI to construct a corporate control network (CCN), where the nodes are the countries and the edges are the corporate control relationships. Network measures, as the shortest path length and the communicability, are then computed on the CCN to capture the indirect channel of FDI. Empirically, we find that corporate control has a positive effect on trade both directly and indirectly. The result is robust with different specifications and estimation strategies. Hence, our paper provides strong empirical evidence of the indirect effects of FDI on trade. Moreover, we identify a number of interplaying factors such as regional trade agreements and the region of Asia. We also find that the indirect effects are more pronounced for the manufacturing sector than for primary sectors such as oil extraction and agriculture.     

The Variegated Financialization of Housing

There is a small but growing literature on the financialization of housing that demonstrates how housing is a central aspect of financialization. Despite the varied analyses of the financialization of housing and the importance of housing to financialization, the relations between housing and financialization remain under‐researched and under‐theorized. The financialization of housing is not really a specific form of financialization, transcending as it does a number of different forms of financialization. Housing systems, in particular, vary widely across the globe, which implies that housing financialization will be inherently variegated, path‐dependent and uneven. In this introduction to the symposium, I will discuss how the articles to follow contribute to the literature on the financialization of housing. Housing has entered a post‐Fordist, neoliberal and financialized regime. Increasingly, both mortgaged homeownership and subsidized rental housing are there to keep financial markets going, rather than being facilitated by those markets. There is little evidence that the global financial crisis has resulted in any de‐financialization of housing. There are common trajectories within uneven and variegated financialization, rather than radically different and completely unrelated forms of housing financialization.     

基于PCA-BP-GA的BOT项目风险预测研究

由于BOT项目本身的长期性和复杂性,所以在BOT项目实施前需要准确科学的预测出所面临的风险大小。针对BOT项目风险影响因素众多的问题,先利用主成分分析法进行降维,然后利用遗传算法找出BP神经网络的最优全值阈值,建立了PCAGA-BP BOT项目风险预测模型。同时将以往的BOT项目数据作为学习样本,对BOT项目风险进行预测,并利用某地污水厂的例子进行验证,说明此模型对实际工程的科学指导性。