Product Market Regulation and Labor Market Performance around the World

Using annual data on 80 countries for 1980–2007 and a new indicator of product market regulation, this paper studies the effects of product market regulation on labor market performance among the total population as well as among two important groups of labor market outsiders: women and youth. It finds that stricter regulation is likely to both increase the unemployment rate and decrease the employment rate. The magnitude of the estimated effects is substantial. There are above‐average effects on both groups of outsiders, with the effects being particularly strong on youth. The results are robust to variations in specification.     

新时期人才资源的开发和有效利用

人才是经济发展和社会进步最重要、最宝贵的资源。在市场经济条件下,经济的竞争必然依赖于科技的竞争,经济、科技的竞争归根结底是人才的竞争。随着经济全球化进程的加快和以高新技术为核心的知识经济时代的到来,在参与多边合作和竞争中,人才越来越成为开辟未来和赢得竞争优势的首要因素。因此,做好新时期人才资源的开发和利用工作,对于促进地方经济和社会各项事业的健康发展具有重要的战略意义。一、确立现代人才观念,提高对人才重要性的认识,是新时期社会发展的需要只有在思想观念上重视,才能从具体行动上体现。当今科技、经济发展一日千…     

Trade Liberalization and Labor Market Dynamics

This paper estimates a structural dynamic equilibrium model of the Brazilian labor market in order to study trade‐induced transitional dynamics. The model features a multi‐sector economy with overlapping generations, heterogeneous workers, endogenous accumulation of sector‐specific experience, and costly switching of sectors. The model's estimates yield median costs of mobility ranging from 1.4 to 2.7 times annual average wages, but a high dispersion of these costs across the population. In addition, sector‐specific experience is imperfectly transferable across sectors, leading to additional barriers to mobility. Using the estimated model for counterfactual trade liberalization experiments, the main findings are: (1) there is a large labor market response following trade liberalization but the transition may take several years; (2) potential aggregate welfare gains are significantly reduced due to the delayed adjustment; (3) trade‐induced welfare effects depend on initial sector of employment and on worker demographics such as age and education. The experiments also highlight the sensitivity of the transitional dynamics with respect to assumptions regarding the mobility of capital.     

Cost‐Reducing Innovation and the Role of Patent Intermediaries in Increasing Market Efficiency

Patent intermediaries have gained importance as non‐practicing entities in the innovation domain, buying innovations from an external provider and then licensing them to practicing firms. In this study, we analyze the competition between two identical incumbent firms and a patent intermediary for the acquisition and licensing of a cost‐reducing innovation developed by an external innovator. We show that the outcome of the IP acquisition and licensing game critically depends on the degree of the cost‐reducing innovation. Patent intermediaries win IP rights in patent markets if the innovation is incremental. They also win the IP rights when the innovation is moderate or radical, providing they have significant efficiency advantages over incumbent firms and the uncertainty about the degree of innovation is low. We also show that patent intermediaries serve to make markets more efficient. When the innovation is incremental or moderate, they help ensure a lower cost of production and a lower price for customers, and when the innovation is radical, they help increase the profits of the incumbent firms.     

贸易成本、劳动力市场扭曲与中国的劳动生产率

本文在Eaton和Kortum(2002)的基础上,引入劳动力市场扭曲构建开放经济的多部门模型,研究了贸易成本、劳动力市场扭曲对中国劳动生产率的影响。研究结果表明:一方面,1995～2013年中国农业和制造业贸易成本分别下降了0.65和0.60,消除贸易成本所带来的劳动生产率改进空间由64.92%下降至23.12%。另一方面,消除贸易成本和劳动力市场扭曲对劳动生产率的改进存在相互影响,样本期间若同时消除劳动力市场扭曲和贸易成本,加总劳动生产率可以提高67.98%,要高于分别改革两个市场所得到的总效应(仅消除劳动力市场扭曲或贸易成本,加总劳动生产率平均可以提高20.51%或44.29%)。上述结果意味着在实际改革中,中国需要统筹国内改革和对外开放才能达到最优的政策效果。     

Beauty and the Labor Market: Accounting for the Additional Effects of Personality and Grooming

This paper examines the influence of three non‐cognitive personal traits — beauty, personality, and grooming — on the labor market earnings of young adults. It extends the analyses of Hamermesh and Biddle [1994 , American Economic Review 84(5): 1174–1194] and others who focus primarily on the effects of beauty on labor market earnings. We find that personality and grooming significantly affect wages, and their inclusion in a model of wage determination reduces somewhat the effects of beauty. We also find some evidence of employer discrimination based on these traits in the setting of wages.     

Empowered Learners: The New Paradigm for 2000 and Beyond

In the fast-growing new technology-based industrial landscape in the UnitedStates, companies have had to face a major problem. Many job applicants havehad such a poor educational preparation that many companies are required tooffer remedial courses in the basic subjects to ensure employee readiness forsuch positions. Many times, however, the educational approach taken bycompanies is very similar to that which was taken by the schools which havefailed these employees – the typical `chalk and talk' approach. Thisarticle suggests an alternative approach to employee education. Thisresearch-based theory states each individual learns in a unique way which canbe diagnosed and utilized to ensure maximum educational effectiveness. Thisapproach has already been employed in a high school setting, and the resultssupport this approach. The theory is not predicated on school-age studentsalone, hence a transition to the workforce is entirely credible, to thebenefit of companies and individuals alike.     

市场细分新范式:基于两类不同产品的实证研究

本文根据描述变量对行为变量影响的本质原因和有关学者提出的模型,提炼出主要由客观需要、目标价值观、信号价值观和消费资源构成的关键描述变量,认为如果关键描述变量对人口统计因素等基本描述变量与行为变量之间的关系具有中介作用,就可对其进行直接测量和细分,以用于解释和预测行为变量,由此可解决营销者不知如何在复杂的描述变量中选择最有用的变量进行市场细分的困惑,降低市场分析和决策成本.为了验证关键描述变量是否具有中介作用、以及新的市场细分范式是否容易操作,本研究选择了私家车和笔记本电脑两种产品进行了实证研究.研究结果表明,关键描述变量具有中介作用,新的市场细分范式具有可操作性.     

Maternal Incarceration and Children's Education and Labor Market Outcomes

I estimate the effect of maternal incarceration on education and labor market outcomes. I link mother–child panels and estimate maternal fixed effects to control for unobservable household heterogeneity. Maternal incarceration from birth to age 10 is associated with increased grade retention and dropout rates. Conditional on completing high school, incarceration from 15 to 17 is associated with decreased college attendance. Maternal incarceration does not appear to have a further effect on employment, but some wage penalties are apparent. Propensity score analysis suggests that controlling for unobservable household characteristics is vital when examining the link between incarceration and labor outcomes.     

The Gender Wage Gap in the Turkish Labor Market

Abstract. This paper examines the sources of the gender wage gap in the Turkish labor market by using matched employer–employee data and the standard wage regression estimations as well as the Oaxaca decomposition method. The extensive number of variables in the data set enables a thorough quantitative analysis of the role of various individual‐ as well as firm‐related factors leading to wage differentials between men and women, namely human capital endowments including job tenure, occupational and industrial segregation, private/public sector location, coverage of the workplace under collective labor bargaining, and firm size. It also examines the extent of gender‐based industry and occupational segregation within the confines of data set and computes the Duncan & Duncan segregation index. We find that a large portion of the gender wage gap is attributable to women's considerably lower levels of work experience and job tenure. Other important variables that lead to pay differentials are women's lower concentration in jobs covered by collective labor bargaining and a substantial degree of occupational and industrial segregation. The differential rates of return to many of the wage determinant variables are also found to be significant in the formation of the gender wage gap.     

新经济的时代特征与企业战略范式的转型

本文试图从新经济角度认识企业战略范式的转型问题。文章根据认识的过程原理,概括出新经济的时代特征体现在信息化、知识化、人本化和全球化四个方面。再根据企业战略和企业经营环境固有的互动性,尝试探讨了企业战略范式在传统经济和新经济两种经济形态下可能的范式构成,包括企业的战略形态、战略选择偏好、企业竞争动力学、博弈行为、治理原则、战略目标等多项可比的结构要素。     

Promotion,Turnover, and Compensation in the Executive Labor Market

This paper develops a generalized Roy model with human capital accumulation, moral hazard, and career concerns. We identify and estimate the model with a large panel that matches data on publicly listed firms to information on their executives. The structural estimates obtained are used to decompose the firm‐size pay gap. We find that although total compensation and incentive pay increase with firm size, certainty‐equivalent pay decreases with firm size. In larger firms, and for more highly ranked executives, weaker signal quality about effort results in higher risk premiums. This risk premium accounts for roughly 80 percent of the firm‐size gap in total compensation. Larger firms are also willing to pay more than smaller ones to attract executives. Finally, the estimated coefficients on human capital accumulation from formal education and experience gained from different firms are individually significant, but their collective effect on firm‐size pay differentials nets out.     

New Evidence on the Impact of Legal Status on Immigrant Labor Market Performance: The Spanish Case

Using a recent and rich Spanish data set on immigrants, we examine the impact of legal status on two measures of labor market performance: the likelihood of being employed and earnings. The Spanish case is of special interest given the rapid increase in immigration over the past 15 years and the large number of amnesties granted during the 1990s and 2000s. We find that a 10 per cent increase in the share of legal immigrants would raise the overall employment likelihood of immigrants by 4 percentage points and their earnings by 3.3 per cent. The results, which prove robust to alternative sample specifications, confirm the well‐known importance of being legal for the economic assimilation of immigrants.     

Schooling and Labor Market Impacts of a Natural Policy Experiment

Abstract. We use a nationally representative household survey to estimate returns to schooling in Venezuela from instrumental variables based on a supply‐side intervention in the education market. These estimates apply to a subgroup of individuals, in the spirit of the local average treatment effect (LATE) literature. Returns to schooling estimates that apply to a subgroup of individuals affected by the policy intervention may be more interesting from a policy perspective than the return to the ‘average’ individual. We use an instrument based on the 1980 education reform (the Organic Law of Education), which provided for 9 years of compulsory basic education. Alternative estimates derived from interacting the education reform with father's education are also obtained. The estimates are consistent with recent findings suggesting that the effect of education, at least for certain subgroups affected by policy intervention, is as large as or larger than what is suggested by ordinary least squares estimates.     

New Organizational Forms for Competing in Highly Dynamic Environments: the Network Paradigm

Turbulence and rapid change in the business environment have been associated for some time with the development of new network organizational forms which put various types of strategic alliance and other inter-organizational collaborations into effect. This paper traces the rationale for the formation of such networks and the associated vertical disaggregation of functions and implications for internal organizational design. This leads to the proposal of a classification framework for network forms. Using the dimensions of volatility of environmental change on the one hand, and the type of inter-organizational relationship involved (collaborative or transactional) on the other hand, network forms are classified as: hollow networks, flexible networks, value-added networks and virtual networks. In each case it is possible to identify the environmental and organizational contingencies most likely to be associated with the emergence and adoption of a particular type of network arrangement. This argument leads to the identification of a new research agenda which has the goals of developing more robust conceptualizations of network characteristics; better understanding the contingencies surrounding the emergence of network forms and their relative efficiencies and specifying some of the major implications of network formation for internal organizational design. In parallel the paper identifies a number of managerial implications for setting strategic priorities and developing appropriate management systems in these new organizational contexts.     

高绩效人力资源管理系统对新产品成功影响机制研究

本文以383家中国医疗器械生产企业调研数据为依据,实证研究了新兴市场企业高绩效人力资源管理系统对新产品成功的影响机制。由于新兴市场企业产品创新机制和发达国家不完全相同,在有效控制相关影响变量后,本文发现,动态能力对高绩效人力资源管理系统和新产品成功之间的关系起到部分中介作用;环境动态性对高绩效人力资源管理系统与新产品成功直接和间接关系以及总的关系存在显著负向调节作用。本文的研究丰富了新兴市场高绩效人力资源管理系统对组织创新影响的文献内容。     

网络经济与中介商职能研究

网络经济的来临对中介商的生存提出了挑战,在总结传统中介商职能和作用的基础上提出了两个假设,通过质量管理、风险管理、批量定制与个性化服务、营销理念、技术含量、高附加值经济等方面对网络经济中中介商的生存之道进行了探讨,从而对假设二提出了置疑,并在此基础上提出了假设三,由此得出结论,即中介商在网络经济中将更好的发挥降低交易成本、提高市场交易效率的作用,从而使其经济地位更加巩固.     

A Strategy for Opening a New Market and Encroaching on the Lower End of the Existing Market

We identify and analyze a scenario where a firm first opens up what we call a “detached” market, by offering a new product that meets a customer need that is very different from (i.e., detached from) the need met by the old established product. Our analysis builds on the previous studies that describe alternate ways in which a new product might open a new market and ultimately encroach on an existing market. Consider the example of cell phones: They opened up a new detached market by meeting the customer need for mobility, a need very different from the traditional attribute of reception quality. By meeting an important detached need, a new product can sell at a high price, even though it might be woefully deficient with regard to the traditional performance dimension (the reception/coverage of early cell phones was sorely lacking). A person who is a high‐end customer for the old product initially despises the new product as a replacement for the old one but might simultaneously be one of the first customers for the new product because it fills the detached‐market need. Over time, the new product improves along the traditional dimension (e.g., cell phone reception/coverage has dramatically improved), and eventually it becomes a replacement for the old product, encroaching from the lower end upward (the first customers to drop their landlines have been lower‐end customers such as students and apartment dwellers, whereas higher‐end business customers still have landlines in their offices). We call this the detached‐market form of low‐end encroachment and show how it helps explain the conundrum of an expensive “disruptive” innovation. We go on to relate our results to the finding that “willingness to cannibalize” is a key factor in an incumbent firm's growth and survival, and to the “blue ocean strategy.”     

Financial Globalization and the Governance of Domestic Financial Intermediaries

We model a small open economy in which both domestic financial intermediaries and entrepreneurs face incentive constraints, as in Holmstrom and Tirole (1997) , to study the general equilibrium impact of various types of capital inflows on the efficiency and governance of domestic banks. Banks have an advantage in monitoring firms, but the latter can collude with banks and offer side‐payments to reduce the intensity of monitoring. Opening up to international capital flows makes domestic banks’ capital scarcer relative to uninformed capital, thus increasing the relative cost of monitoring. We show that capital account liberalization has ambiguous effects on the governance of the domestic financial system by sometimes increasing firms’ incentives to collude with banks. We characterize the conditions under which governance is more likely to deteriorate after opening up the capital account, and discuss the effects on investment, productivity and output. We also analyze the effects of foreign direct investment in the corporate and banking sectors. Stylized facts are consistent with the predictions of the model.