Corrigendum to “On randomized matching mechanisms” [Economic Theory 8(1996)377–381]

Ma (in Econ. Theory 8, 377–381, 1996) studied the random order mechanism, a matching mechanism suggested by Roth and Vande Vate (Econometrica 58, 1475–1480, 1990) for marriage markets. By means of an example he showed that the random order mechanism does not always reach all stable matchings. Although Ma's (1996) result is true, we show that the probability distribution he presented – and therefore the proof of his Claim 2 – is not correct. The mistake in the calculations by Ma (1996) is due to the fact that even though the example looks very symmetric, some of the calculations are not as “symmetric.” We thank two anonymous referees for their helpful comments. B. Klaus’s and F. Klijn’s research was supported by Ramón y Cajal contracts of the Spanish Ministerio de Ciencia y Tecnología. The work of the authors was also partially supported through the Spanish Plan Nacional I+D+I (BEC2002-02130 and SEJ2005-01690) and the Generalitat de Catalunya (SGR2005-00626 and the Barcelona Economics Program of CREA).     

股权激励存在持续性的激励效应吗？--基于倾向得分匹配法的实证分析

为克服样本选择偏误,本文采用倾向得分匹配法,在六年的时间框架内检验了股权激励效应的持续性问题。研究发现：整体而言,激励组的ROE和Tobin’s Q值均显著高于控制组,说明股权激励能有效地提高企业的财务绩效和市场价值;激励组的ROE在股权激励计划实施后的三年时间里均显著高于控制组,三年之后逐渐与控制组无显著差异,表明股权激励对企业财务绩效的提升作用能持续三年时间;激励组的Tobin’s Q值在实施的第一年与控制组无显著差异,但在随后的四年时间里均显著高于控制组,表明股权激励对企业市场价值存在长达四年的持续提升作用,但存在为期一年的时滞效应。     

分块自适应图像稀疏分解

针对图像稀疏分解的计算时间复杂度非常高这个问题，提出了分块自适应图像稀疏分解算法。该算法根据稀疏分解计算时间复杂度和待分解图像大小之间的关系。把待分解图像分成互不重叠的小块。然后对每个小块图像进行稀疏分解。根据每一块的复杂程度。自适应地决定稀疏分解的结束。实验结果表明。在分解原子个数相近或相同的条件下。新算法对稀疏分解后重建图像比在整幅图像上进行稀疏分解重建的图像质量下降0．5dB。但计算速度提高了约15倍。     

正确把握大思路 配套推进分税制——兼与“纵向分两段，横向分两块”的主张商榷

本文认为,以分税制为基础的分级财政是市场经济新体制所要求的财政体制,需要在统一市场构建中逐步贯通运行这一财政体制,过渡措施不应凝固为实现中长期目标的障碍,要正确把握大思路,配套推进分税制。     

新创企业成长阶段与高管行为整合的匹配性:案例研究

在对新创企业的成长阶段进行划分的基础上,采取典型案例研究方法,分阶段地探讨高管行为整合与新创企业成长阶段的匹配性。研究发现:新创企业的成长在青春期阶段与高管行为整合的关系为不匹配,在调整期阶段与高管行为整合的关系需要根据企业是否具有行为整合的条件来确定,在稳定期阶段与高管行为整合的关系为匹配。     

战略性新兴产业集群创新网络形成机制研究——基于灰靶双边匹配的决策方法

战略性新兴产业的发展对国民经济和社会发展具有重要的战略意义,目前中国战略性新兴产业仍面临着“高端产业,低端技术”的发展困境,如何突破产业关键技术促进产业健康、可持续发展已成为亟待解决的问题。战略性新兴产业集群创新网络的形成是突破产业关键技术、共性技术及前瞻性技术的核心环节,中国正在兴起的产业技术研究院、航空高技术产业园等跨组织知识集成平台为培育和发展战略性新兴产业集群创新网络提供了重要的支撑平台。本文依托跨组织知识集成平台探究了战略性新兴产业集群创新网络的形成机制,构建了创新主体间的灰靶双边匹配模型,并采用平衡计分法建立了以创新能力为重要衡量标准的综合评价指标体系,最后通过案例进行了分析,证明了其有效性和实用性,可为促进战略性新兴产业集群创新网络的形成提供理论指导。     

The impact of minimum wages on employment of low‐wage workers

This study provides empirical evidence on the impact of a minimum wage increase on employment of workers in the formal sector who have wages below the minimum level in Vietnam. Using the difference‐in‐differences with propensity score matching and the Vietnam Household Living Standard Surveys of 2004 and 2006, the article finds that the minimum wage increase in 2005 reduced the proportion of workers having a formal sector job among low‐wage workers. Most workers who lost formal sector jobs became self‐employed.     

Fiscal stimuli in the form of job creation subsidies

This paper examines the effects of fiscal stimuli in the form of job creation subsidies in a DSGE model with search friction and endogenous job separation. We consider two types of job creation subsidies: a subsidy for the cost of posting vacancies and a hiring subsidy. This paper finds that the effects of job creation subsides on unemployment differ between models with and without endogenous job separation. While a positive job creation subsidy shock lowers unemployment in a model without endogenous job separation, it increases unemployment in a model with endogenous job separation. We also find that while qualitatively the effects of a vacancy cost subsidy on the economy are similar to those of a hiring subsidy, quantitatively they are different.     

Can Poverty be Alleviated in China?

The 2000s witnessed the third poverty alleviation wave in China. Compared with its predecessors, the third wave distinguished itself by new interventions and redefined standards for the National Poor Counties. This paper evaluates the effectiveness of the new program using a data set consisting of 1,411 of China's western and central counties from 2000 to 2010. It combines the propensity score matching method with the difference‐in‐differences approach, which helps to avoid selection bias and track the policy impact on variables of interest at each time point. It is found that the non‐western local governments tended to manipulate data on income and output growth to maintain the special transfer payments disbursed exclusively to the National Poor Counties. It is also shown that the program failed to improve the infrastructure and sanitary conditions in general.     

Estimating matching functions when recruiting intensity matters

The article estimates matching functions – the relationships between new hires, job vacancies and unemployment – using monthly time series data for Sweden. The data contain rich information on types of job vacancies which provides information on firms’ recruiting efforts. The analysis shows that the aggregate flow of new hires is well explained by an augmented version of a standard matching function that incorporates data on firms’ recruiting intensity.