Subsidized and Unsubsidized Housing Stocks 1935 to 1987: Crowding out and Cointegration

Crowding out arises in many economic contexts, from the macro concern that deficit spending might crowd out investment to the micro concern that increased employment of women might result in fewer jobs for men. Here I ask whether subsidized housing crowds out unsubsidized housing in the United States, applying the econometric tools of cointegration analysis. Such crowding out proves to require stringent restrictions on the coefficients of the cointegrating relationships that link housing stocks with one another and with other economic variables. These restrictions also apply to testing for other crowding out phenomena.I find that public housing has steadily added to the total stock of housing since its inception in 1935. In contrast, I find that moderate-income, conventionally financed, subsidized housing, such as the Section 235 and 236 programs that accounted for more than 1.5 million new units between 1960 and 1987, most likely adds little or nothing to the total housing stock. These findings speak against recent proposals to provide subsidies to developers who build dwellings for moderate income Americans but offer qualified encouragement to those who advocate expansion of the conventional public housing program.     

我国产权交易市场的特征及其市场失灵问题解析

市场经济条件下的市场调节功能失灵是普遍存在的现象,必须依靠政府监管和调控才能有效克服。我国现行产权交易市场的基本特征表明,国有资产所有者非人格化缺陷是我国产权交易市场失灵的最主要原因。必须尽快健全和完善我国国有资产监督与管理的法律体系,为各级国有资产管理部门履行出资人职责提供立法依据,建立起一个在政府有效监管下的行业和企业自律的产权交易市场。     

Social isolation and social anxiety as drivers of generation Z's willingness to share personal information on social media

Generation Z's (gen z) sharing of personal information on social media is a growing phenomenon with significant ramifications. Existing research, however, focuses on examining the role of social and/or psychological factors and fails to consider how and when social, psychological, and organizational factors affect gen z's willingness to share personal information on social media. To fill this gap, we propose a conceptual model based on the tenets of sociometer theory, to understand the dynamics of gen z's willingness to share personal information while considering its process and boundary conditions. Using a sequential multi-study design, we conducted an experiment followed by a survey to test our hypotheses using data collected from gen z in India. Our findings show that when gen z feels socially isolated/anxious, they are more likely to share personal information on social media. The effect of social isolation on sharing of personal information increases when gen z fear that they are missing out on the rewarding experiences others are having, are engaged in repetitive negative thoughts and perceive their firm's privacy policy as transparent and ethical. Our findings provide a better understanding of why, how, and when gen z's are willing to share personal information on social media. We extend existing limited research on the psychological aspects of digital natives' interaction with modern technologies. Our results equip social media marketing and brand managers with the knowledge they need to increase gen z's willingness to share personal information.     

广东承接国际服务外包竞争力分析

随着信息技术的发展及经济的全球化,国际分工模式也由制造业向服务业发展,服务外包正是在这种形势下成为了热点,各国政府采用各种措施推动服务外包的发展,目前已形成如印度这样较具竞争力的国家,中国在吸引全球服务外包也排前列,但服务外包的竞争形势依然激烈,外包形式还在不断地创新,作为改革开放的前沿广东应如何面对?文章采用SWOT方法对广东承接国际服务外包进行了分析并提出一些建议期望广东能在服务外包领域形成独特的竞争优势。     

关于实施人才强企战略的几点思考

人才是企业之魂,正确的人才理念是企业实施人才强企战略的先导。文章阐述了如何以科学的态度加强人才队伍建设,确立人力资本理念,完善用人机制。     

上市公司大股东“掏空”行为与信息披露监管

上市公司大股东（或控股股东）与中小股东之间的利益冲突已成为公司治理中的第二类代理问题。大股东凭借其实际控制权“掏空”上市公司,损害中小股东的利益。本文在相关学者“掏空”行为方式研究的基础上,通过对已披露的上市公司“掏空”行为方式的研究,发现、总结“掏空”行为信息披露的特征,并以信息披露的及时性、完整性和真实性为准绳,提出通过事前披露、强化证券交易所的监管作用、完善民事赔偿制度、建立信息披露评级制度以及诚信文化建设等进一步规范上市公司信息披露制度,强化上市公司信息披露监管,以有效制约大股东的“掏空”行为。     

Banking union: the problem of untried systems

This article explores the problems the EU and the SRB face in trying to implement a credible system for resolving banks without the use of taxpayer funds as a key part of banking union that avoids the doom loop between indebted banks and indebted sovereigns. It finds that without clear examples of how the system works in practice it is very difficult to provide convincing evidence of what will happen given the large number of options for bailing in, the continuing predilection for bailing out in some states and the lack of fiscal backstop for general threats to financial stability.     

Determinants of how individuals choose,eat and waste: Providing common ground to enhance sustainable food consumption out‐of‐home

The transformation of food consumption in wealthy economies is regarded as an essential measure to reach global sustainability goals. However, existing policies and research activities to change food consumption in the increasingly relevant out‐of‐home sector relate to a wide set of options on how to influence behaviours and may be criticized to lack a general focus. Against this background, our study provides a structured review of the existing research body on the determinants of individuals’ food choices and food consumption out‐of‐home. It structures the various research approaches and findings for 110 selected papers according to a general ecological framework where personal, social and environmental determinants for food behaviours are considered. By providing a collective overview and linking results for different behavioural aspects and settings, this study supports a more general understanding of consumer food behaviour in out‐of‐home settings. Consequently, it also provides a means to identify research gaps and to suggest relevant aspects for future research to draw from the combination of findings and to enhance sustainability in food consumption.     

Are false own-account workers less job satisfied than true ones?

This article compares job satisfaction of true and false own-account workers. The latter group refers to own-account workers who are employed with the same tasks by the same employer for whom they previously worked as employees. To create a valid comparable group, the former workers are defined as paid employees who independently started a new business as own-account workers. Using data drawn from the European Community Household Panel for the EU-15 and controlling for possible self-selection issues, we observe that false own-account workers, compared with true ones, have less job satisfaction in terms of type of work, number of working hours, working times, and working conditions and environment. Our results are consistent with existing policies aimed to combat false self-employment developed by many OECD countries.     

Means‐Tested Long‐Term Care and Family Transfers

One of the pervasive problems with means‐tested public long‐term care programs is their inability to prevent individuals who could afford private long‐term services from taking advantage of public care. They often manage to elude the means‐test net through ‘strategic impoverishment’. We show in a simple model how this problem comes about, how it affects welfare and how it can be mitigated.