Trade liberalization and wage inequality: Evidence from Korea

This paper investigates the heterogeneous income distribution effects of trade liberalization using Korean survey data from years of 2000–2015. Following the Stolper-Samuelson theorem most of previous research studying the effects of trade liberalization on wage differences focus on workers’ characteristics (e.g., skilled or unskilled) while heterogeneity within the same worker group has not been yet substantially investigated. To fill this gap, this paper provides empirical evidence of wage inequality across firms within the same group of workers caused by trade liberalization, potentially implied in the new-new trade models with firm heterogeneity. Employing a difference-in-differences (DID) specification, we find that the wages of unskilled workers in Korea have increased since its FTAs with more advanced countries, such as members of EU and the US, came into effect, while the effects on the wages of skilled workers are negative but not statistically significant. We also show that wage effects are heterogeneous across firms within unskilled and skilled worker groups, while the positive effects are statistically significant and largest for unskilled workers in medium-large sized firms. These findings are in line with both traditional and new-new trade models.     

Socio-demographics,political attitudes and informal sector employment: A cross-country analysis

In this paper, we empirically investigate the relationship between informal sector employment and micro-level socio-demographic characteristics, political acts and attitudes, and individual norms. Using self-reported individual micro-level data from the World Values Survey for seven developing countries (China, Ecuador, Egypt, Mexico, Peru, South Africa and Yemen), our cross-country regressions and principal component analysis reveal that socio-demographic characteristics of individuals are strong predictors of their informal sector employment. Our estimations further document that individual preferences for an economically strong, interventionist and egalitarian state and confidence in state and political institutions are positively and significantly correlated with informal sector employment, whereas variables associated with confidence in free market institutions and support for competition are negatively and significantly correlated with informal sector employment. We also show that individuals who participate either actively or inactively in peaceful and lawful political processes are significantly less likely to work in the informal sector. Finally, we document that individual norms, such as religiosity and tax morale, are negatively correlated with informal sector employment. Throughout our analysis, instead of having to rely on ad-hoc informality categorizations of third parties, we base our measurement of informal sector employment directly on the self-evaluation of individuals, who have the best information on the degree of their informality.     

Overconfidence and tax avoidance: The role of CEO and CFO interaction

We investigate how overconfident CEOs and CFOs may interact to influence firms’ tax avoidance. We adopt an equity measure to capture overconfident CEOs and CFOs and utilize multiple measures to identify companies’ tax-avoidance activities. We document that CFOs, as CEOs’ business partners, play an important role in facilitating and executing overconfident CEOs’ decisions in regard to tax avoidance. Specifically, we find that companies are more likely to engage in tax-avoidance activities when they have both overconfident CEOs and overconfident CFOs, compared with companies that have other combinations of CEO/CFO overconfidence (e.g., an overconfident CEO with a non-overconfident CFO), which is consistent with the False Consensus Effect Theory. Our study helps investors, regulators, and policymakers understand companies’ decision-making processes with regard to tax avoidance.     

Unemployment insurance benefits and income smoothing

Labor unemployment insurance reduces unemployment concerns. We argue that these benefits moderate incentives to smooth earnings to reduce employees’ concerns about unemployment risk. Using exogenous variations in unemployment insurance benefits, we find evidence consistent with this argument. We also find that the link between unemployment insurance benefits and income smoothing is stronger when there is higher unemployment risk and when the firm is likely to employ more low-wage workers, who find unemployment insurance benefits especially useful. Our paper contributes to the literature by showing that public policy decisions such as unemployment insurance have significant, albeit probably unintended, externalities on corporate financial reporting.     

Will China's WTO accession worsen farm household incomes?

Many fear China's accession to the World Trade Organization (WTO) will impoverish its farmers via greater import competition in its agricultural markets. We explore that possibility bearing in mind that, even if producer prices of some (land-intensive) farm products fall, prices of other (labor-intensive) farm and nonfarm products could rise. New estimates, from the global, economy-wide numerical simulation model known as Global Trade Analysis Project (GTAP), of the likely changes in agricultural and other product prices as a result of WTO accession, are drawn on to examine empirically the real income implications of China's WTO accession. The results suggest farm–nonfarm income inequality may well rise within China but rural–urban income inequality need not. The article concludes with some policy suggestions for alleviating any pockets of farm household poverty that may emerge as a result of WTO accession.     

年薪制“两次喊停”告诉我们什么？

6年来,国企经营者年薪制改革两次因故受阻,这其中存在一些亟待解决的深层次问题。要理性认识年薪制改革当前的目标和作用,认识这一改革的艰巨性和长期性,突出重点,化解主要矛盾,推进年薪制改革顺利进行。     

Regional economic performance in China1

This paper investigates convergence patterns among China's provinces using GDP data for the period 1952–97. We analyze convergence behaviour on the basis of Markov chains proposed by Quah (1993 ) and the generalized entropy decomposition proposed by Shorrocks (1980, 1984 ). Both sets of results show similar evidence of convergence within the pre‐defined geo‐economic sub‐regions, but no evidence is found of convergence between the sub‐regions. This finding has important policy implications for regional economic development in China. JEL classification: C33, E20, O47.     

以企业文化为切入点加强和改进企业思想政治工作

企业为了搞好经营，都十分重视提高员工的工作积极性，而提高员工的工作积极性往往采取增加薪酬、改善福利的方式，当然，这种方式的运用无可厚非，也比较见效，但随着企业各项制度的不断完善和员工构成的高学历化，单纯的经济刺激已不足以应对员工的多元化需求；因此重新审视我党的思想政治工作，将它与企业文化建设有机结合，在提高员工经济收入的同时，努力提高员工的“精神收入”，成为企业提升管理品质、吸引人才、锻造内力的有效途径。     

多媒体技术在数学教学中的应用

要深化教学改革必须充分发挥信息技术的优势，采用多媒体技术进行数学教学势在必行。文章从激发学习兴趣、提高学习效率、优化教学过程等方面阐述了运用多媒体技术进行数学教学的必然性、可行性、优越性。     

充分利用上市公司资源 促进国有企业改革

控股母公司对上市公司的不断注资扩股，在壮大上市公司实力的同时，实现自身整体股份化的过程，这为有母公司背景的上市公司的发展和控股母公司股份制改革提供了一种全新的发展模式。对这种模式探讨具有一定的代表性，对于这类公司来说，通过这种模式实现资本扩张，将是一条低成本、高效益、规范化、确实值得探索的国企改革之路。