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41.
Ana Lamo Javier J. Pérez Ludger Schuknecht 《The Scandinavian journal of economics》2012,114(1):228-244
Whether a government acts as a wage leader, placing pressure on private‐sector wages (more open to competition), or whether it plays a passive role and merely follows wage negotiations in the private sector, there are important implications for macroeconomic development, particularly in small open economies and/or countries that are members of a monetary union, such as those of the European Monetary Union. With the notable exception of the case of Sweden, opinion on this issue is still divided. In this paper, we look at public‐ and private‐sector wage interactions from an international perspective (18 OECD countries). We focus on the causal two‐way relationship between public and private wage setting, confirming that the private sector, on the whole, appears to have a stronger influence on the public sector, rather than vice versa. However, we also find evidence of feedback effects from public wage setting, which affect private‐sector wages in a number of countries. When the private sector takes the lead on wages, there are few feedback effects from the public sector, while public wage leadership is typically accompanied by private‐sector feedback effects. 相似文献
42.
This article presents a model of political corruption in which a briber can choose either to bribe only the incumbent party or to capture also the opposition party to sterilize its monitoring role. The analysis also explores interparty collusion, media independence, and political contestability. The model suggests that policies aiming to strengthen the role of minorities can produce ambiguous effects as they may induce bribers' avoidance behavior. Reputational sanctions appear to be less effective than criminal ones, although political contestability increases their deterrence effect. Paradoxically, harsh criminal sanctions may induce tacit collusion because minorities highly regard their outcomes once in power. 相似文献
43.
This article shows that mark‐ups are significantly higher in South African manufacturing industries than they are in corresponding industries worldwide. We test for the consequences of this low‐level of product market competition on productivity growth. The results of the paper are that high mark‐ups have a large negative impact on productivity growth in South African manufacturing industry. Our results are robust to three different data sources, two alternative measures of productivity growth, and three distinct measures of the mark‐up. Controlling for potential endogeneity of regressors does not eliminate the findings. 相似文献
44.
G. SIVALINGAM 《Economic Papers: A journal of applied economics and policy》2008,27(4):393-402
This paper traces the financial reforms that were introduced to stabilise and strengthen the financial system in Malaysia after the 1997 East Asian Financial crisis. It begins with a discussion of the causes of the crisis and the subsequent institution of capital controls and a fixed exchange rate regime and the efforts to introduce reforms behind the shelter of controls. Reform measures to reduce the ratio of non‐performing loans, to improve the balance sheet of banks and corporations, and to protect depositors are then evaluated, together with attempts to merge banks and strengthen the prudential regulation, corporate governance, and the risk management of financial institutions. The discussion is in the context of two forward‐looking master plans to reform and strengthen Malaysia's financial sector and the capital market. The paper ends with a discussion of the positive effects of the reform on economic recovery after the crisis. However, it is noted that the financial system persists as a relationship‐based system rather than a market‐based system in view of the Government's insistence on directed lending and the continued implementation of the New Economic Policy. 相似文献
45.
Deprived housing is recognized as a source of poor health, but there is still little evidence of a causal relationship between housing and health. While existing literature identifies neighborhood effects and the individual dwelling as factors which affect health, it does not offer a joint examination of these factors. Moreover, endogeneity is a concern in analyses of both problems. Thus far, studies addressing endogeneity have done so through experimental design or instrumental variables. The first approach suffers from problems of external validity and the latter from the lack of reliable instruments. We therefore adopt an alternative strategy which considers both sources of endogeneity in order to identify the effects of housing on health by estimating fixed‐effect models. We reveal how housing problems affect health depending on living conditions and socioeconomic status. Our results therefore indicate that living in poor housing is an important short‐term socioeconomic determinant that directly affects health. 相似文献
46.
Relative income gap is one of the most popular approaches for explaining the income–happiness relationship. We argue in this article that when people compare their incomes, they care about distributional fairness more than relative income disparity. It is difficult for us to explain China's income–happiness paradox if we simply compare the income gap and do not explore the income‐generation process leading to income inequality. We therefore employ an approach based on a responsibility‐sensitive theory of justice that decomposes individual income into fair and unfair components. As a proxy for distributional unfairness, unfair income is considered the main source of unhappiness. Using data from the Chinese Household Income Project survey, we find strong support for the negative relationship between income unfairness and happiness. We also find a significantly positive relationship between the relative income gap and income unfairness, which leads us to consider the income comparison hypothesis as the explanation for the income–happiness paradox in a new light. Sensitivity analyses confirm the robustness of our results. 相似文献
47.
We analyse the optimal location choice of a monopolistic firm that operates two arbitrarily located platforms on a two‐sided market. By extending the traditional Hotelling framework, we show that the optimal platform locations are equivalent to the one‐sided benchmark if both sides are either restricted to single‐ or multi‐homing. In the mixed case (one side single‐homes, the other one multi‐homes), the optimal platform locations are in line with the respective symmetric case. If the monopolist is restricted to choosing the same location on either side of the market, the optimal locations are determined by the relative profitability of the market sides. 相似文献
48.
《Bulletin of economic research》2018,70(1):1-19
Vacation leave is introduced in workplaces to improve the working environment. Surprisingly, it has been observed that a large number of workers do not use all of their entitled vacation days. This paper provides a novel set of facts about the gender differences in taking vacation time using the Canadian Workplace Employee Survey, which is a linked longitudinal employer‐employee dataset. The results show considerable differences between men and women in the estimated effects of some demographic characteristics after controlling for job and workplace characteristics. However, they reveal significant implications of work arrangements (e.g., part‐time work, flexible work schedules, and home‐based work), job promotion, supervisory tasks, and union membership for vacation use, for both men and women. This paper provides further insights on the use of fringe benefits that may be useful to policymakers and businesses. 相似文献
49.
In this study, we analyze the regulation of markets for the provision of services whose costs are subsidized for paternalistic reasons. We model the choice of a benevolent regulator who wants to maximize consumer welfare in a setting where quality cannot be verified and the good provided is fully subsidized. The choice is thus made between two types of providers (profit maximizers and altruistic providers) and two frameworks (monopoly franchise and quality competition). Our analysis shows that in this environment the performance of mixed markets is always dominated by pure forms. Moreover, although making efficient providers compete for the market minimizes cost, the choice of quality competition with altruistic providers may be preferable from a welfare point of view whenever service quality is relevant and the productivity differential is not substantial. 相似文献
50.
Hyeon Jeong Park Timothy M. Gardner Patrick M. Wright 《Asia Pacific Journal of Human Resources》2004,42(3):260-273
In the human resource management literature there is an ongoing debate about which is the key organizational resource: human resource (HR) practices or HR capabilities. Our study attempts to address this debate by examining which resource HR executives in the Asia‐Pacific region find to be important for the future organizational and people needs of their firms. Results indicate that HR capabilities are central to organizations. Development of core competencies, agile organizations, and effective management of human resources will be pivotal to responding effectively to future business needs. Results also indicate that the lingering effects of the Asian financial crisis and competition from local and global competitors will affect organizational and people management in the years to come. These findings inform HR practitioners and shed light on the application of the resource‐based view of the firm to the study of human resource management. 相似文献