Transmissions of real economic shocks across the Pacific Rim economies

We use Asian International Input–Output Tables 1995 in measuring trade dependencies of 10 Pacific Rim economies within a regional general equilibrium model. We develop two sets of metrics in measuring the trade dependencies of the economies. First, we use final demand elasticity of exports in measuring the sensitivities of the economies in the model to autonomous changes in the final demand in any other economy in the region. Second, we use a final-demand-weighted index of export elasticities that are induced by variations in the final demand vector of any economy in the model as indicators of the strength of the shocks transmitted across countries.The estimated coefficients have important policy implications. First, these coefficients identify the most vulnerable sectors of the economies in terms of the export/import dependency. Second, these coefficients may be readily used in bilateral and regional trade negotiations. Using these coefficients, policy makers can provide mutual trade concessions in dampening the effects of real and financial shocks transmitted from the trading partners.     

Social capital and the impact of the recent economic crisis: Comparing the effects of economic and fiscal policy developments

In this contribution, we offer an analysis that evaluates the impact of the recent financial and economic crisis on social capital. An economic crisis offers a unique chance to study people's associational lives, volunteering, network-making, and trust-building under duress. Theoretical perspectives on the relationship between social capital and economic development emphasize a reciprocal relationship between the two. Therefore, we hypothesize that if economic performance is compromised, this might lead to an erosion of social capital. More importantly, however, we also argue that states can actively intervene by means of fiscal policy measures. We will illustrate our approach by comparing 29 Organisation for Economic Co-operation and Development countries before and after the crisis. Using qualitative comparative analysis, we demonstrate that imperatives related to fiscal policy stimuli provide leverage on social capital development.     

Measuring the economic impacts of recent oil price shocks on oil-dependent economy: evidence from Malaysia

This paper examines the economy-wide impacts of recent oil price shocks on the Malaysian economy. To achieve this objective, an integrated methodological framework that combines econometric and input–output models is utilized to assess the impacts of an oil price shock on tax revenues, employment, labor income and gross domestic product (GDP). Our results reveal that the recent oil price shocks significantly affects these macroeconomic variables. The decline in oil prices from 2015 to 2016 reduces tax revenues by 10.5%, lower GDP by 1.9% and increases the unemployment rate by 0.3%. As such, the sharp crunch in oil prices serves as a reminder to policymakers on the vulnerability inherent in overreliance on oil exports and the urgent need to diversify the economy.     

New Trends in Measuring Environmental Attitudes: Measuring Endorsement of the New Ecological Paradigm: A Revised NEP Scale

Dunlap and Van Liere's New Environmental Paradigm (NEP) Scale, published in 1978, has become a widely used measure of proenvironmental orientation. This article develops a revised NEP Scale designed to improve upon the original one in several respects: (1) It taps a wider range of facets of an ecological worldview, (2) It offers a balanced set of pro- and anti-NEP items, and (3) It avoids outmoded terminology. The new scale, termed the New Ecological Paradigm Scale, consists of 15 items. Results of a 1990 Washington State survey suggest that the items can be treated as an internally consistent summated ratingscale and also indicate a modest growth in pro-NEP responses among Washington residents over the 14 years since the original study.     

The linkage effects of raw material processing in economic development: A survey of modeling and other approaches

Processing of primary raw materials has become an important and widely recommended strategy for economic development. Yet, even as the councils of many LDCs call for primary commodity producers to gain greater participation in downstream activities, there remain doubts on fundamental questions:What comparative advantage and what disadvantages do processing activities have in the LDCs?What linkages do processing activities offer?What is the potential contribution of processing to economic goal attainment in the LDCs?In this article we survey the material on processing, particularly with respect to modeling direct and indirect linkages between processing and the LDC economies. The article examines the following topics: (1) the literature on processing in economic development; (2) modeling processing linkages; and (3) outstanding questions regarding processing linkages.We focus on quantifiable linkages between the processing industry and the rest of the economy. There is also the possibility of other linkages, such as the development of entrepreneurship and management talent and technology, that are more difficult to quantify. It is important to distinguish between micro linkages, which refer to the direct impact on supplier and user sectors, and macro linkages, which include indirect general economic effects transmitted through government revenue and expenditures, the money supply, and foreign exchange availabilities.     

收入差距测度及分解方法述评(英文)

本文按研究对象将收入差距划分为总体收入差距和组群收入差距两大类,从收入不平等、极化和组群收入差距三个层面梳理了收入差距的测度及其分解方法。其中,收入不平等侧重于对总体收入差距的刻画;极化着眼于收入分布中的“聚集”或“扎堆”现象,其衡量指标大体上可分为两极分化测度指标和多极分化测度指标。在收入差距的分解上,Shapley分解和组群收入差距的分布分解方法都是较为前沿的研究领域。文章还强调了各种收入差距衡量指标或分解方法的适用性和针对性,以便有的放矢地选用合适的相关指标和方法,更精准地探寻收入差距的成因。     

Are Naturalized Voters Driving the California Latino Electorate? Measuring the Effect of IRCA Citizens on Latino Voting*

Objectives. The 1990s witnessed the growth and maturation of the Latino electorate in California and many scholars have posited as to the reasons. One argument is that naturalizations by way of the Immigration Reform and Control Act (IRCA) drove the increases in Latino participation. In this article we investigate the extent to which this is the case. Methods. Using unpublished INS data, we offer the first empirical test of the IRCA theory by examining Latino IRCA petitions by zipcode to determine whether or not IRCA legalizations and subsequent naturalizations were the force behind increased Latino turnout, and the overall growth of the Latino vote. We merge IRCA data with Registrar of Voter data to examine real growth in the Latino vote at the zipcode level from 1996–2000 in southern California. Results. Although Latino voting grew substantially, we find that IRCA naturalizations did not spur the increases in Latino voting in the 1990s as some have expected. Instead, demographic and mobilization variables explain why the Latino vote grew between 1996 and 2000. Conclusions. As Congress debates new proposals to “legalize” the millions of undocumented immigrants living and working in this country, many will inevitably ask what impact their citizenship will have on the electorate. This study sheds some light on the relationship between amnesty programs, citizenship, and voting among Latinos.     

Public corruption: A study across regions in Italy

This work explores the determinants of public corruption using a regional panel dataset on crimes perpetrated in Italy by public officials against the public administration in combination with a set of demographic and socio-economic variables. The results suggest that both the size and the composition of public spending at the local level explain corruption. We also find that regions where social capital is higher are more likely to face a lower incidence of corruption crimes. Moreover, regions which have historically placed less importance on rooting out corruption may be stuck in a vicious circle of higher levels of corruption.     

Brace yourselves: Reporting of rising food costs in the Australian print media

This paper explores media reporting of the rising food costs in five Australian newspapers in the 12 month period from 1^st September 2007 to 31^st August 2008. This period encompassed a Federal election in which rising food costs were identified as an election issue and a national inquiry into grocery pricing established to honour pre‐election promises. Content analysis of newspaper articles demonstrates an increasing interest in the print media in food prices at this time, with thematic analysis revealing the dominance of political concerns and the economic fears of the Australian public. This paper explores these issues. It compares the rhetoric and reality of rising food costs through reporting of the causes and impact of increased food prices and explores the apportioning of blame for rising food prices and the solutions which arise from this through media reporting of political and personal strategies for managing the risk of food insecurity. The paper will also identify the social processes that contributed to the newsworthiness of rising food costs at this time.     

Measuring the effects of oil price and Euro-area shocks on CEECs business cycles

Assessing the cyclical alignment of national business cycles with the Euro-area one is of great importance in order to guide policy decisions concerning the enlargement of the Euro area. To this end, in this paper we aim to measure the effects of external macroeconomic shocks on business cycles of Central and Eastern European Countries, not yet Euro-area members. Using quarterly data from 1999 to 2015 and the structural near-VAR methodology, we focus on the effects of Euro-area monetary policy and global oil price shocks on prices and output of the analyzed countries. Results show that business cycle fluctuations are mainly explained by domestic shocks in the short run, while monetary policy and oil price shocks play an increasing role in the medium run. Adding domestic fiscal shocks, the overall picture does not change significantly, since fiscal policy turns out to be a minor driver of business cycle fluctuations in CEECs. In the whole, our findings do not support an Euro-area enlargement at short horizons.     

经济社会学百年历程简述

经济社会学是在经济学和社会学基础上发展起来的一门独立学科 ,依循经济学家和社会学家对双方共同关注题材的研究轨迹 ,我们可以发现经济学和社会学在经济社会学发展过程中所打下的深刻烙印。可以说 ,经济社会学的建立和发展是经济学家和社会学家共同努力的成果     

A Romerian contribution to the empirics of economic growth

Mankiw, Romer, and Weil (1992) made the Solovian set up widely used to test the determinants of economic growth and the speed of convergence. In accordance with the nature of the Solow framework, almost all empirical growth studies considered technological progress constant and identical across countries and over time, and hence underemphasized its role. In this study, in order to overcome this weakness, we propose that the Mankiw, Romer, and Weil (1992) set-up should be replaced by the Solovianized Romer (1990) framework, thus allowing the role of technology to be considered in the empirical analysis. In particular, within this framework, the growth rate of technology varies across economies and over time. We estimate the convergence equation derived from Solovianized Romer model for 31 OECD countries for the period 1980–2008 by applying the system GMM approach. The empirical findings of the model support the conditional convergence hypothesis, but reveal a lower convergence rate than that predicted by the existing literature. As a policy implication, we argue that, investment in R&D and human capital are important determinants of convergence, and in cases where economies are unable to allocate sufficient resources to R&D, policy makers should ease the diffusion of technology (e.g., via FDI or trade) in order to retain a high convergence rate.     

Asset markets and foreign exchange intervention: A model of the Belgo-Luxemburg economic union

In this article a general formulation of government intervention policies in the foreign exchange market is integrated in the framework of an asset market model. The policy reaction function is based on a trade off between exchange rate and reserve stock fluctuations; constant exchange rates and a pure float are derived as limiting cases of the intervention schedule. An exchange rate equation is derived from the short run portfolio equilibrium of the model and is successfully tested using data for the Belgo-Luxemburg Economic Union (1967–1979). Our policy conclusions contrast the European Snake constraints for the Belgian Franc with Artus's findings (IMF Staff Papers XXIII(2), July 1976) for the leading DM.     

Measuring ambiguity preferences: A new ambiguity preference survey module

Journal of Risk and Uncertainty - Ambiguity preferences are important to explain human decision-making in many areas in economics and finance. To measure individual ambiguity preferences, the...     

A new challenge to economic science: Global model simulation

The FUGI (Futures of Global Interdependence) global modeling system has been developed as a scientific policy modeling and future simulation tool of providing global information to the human society and finding out possibilities of policy co-ordination among countries in order to achieve sustainable development of the global economy co-existing on the planet Earth in the ever changing universe. The FUGI global model M200 classifies the world into 200 countries/regions where each national/regional model is globally interdependent. Each national/regional model has nine subsystems as population, foods, energy, environment, economic development, peace and security, human right, healthcare and quality of life (IT revolution). This is a super complex dynamic system model using integrated multidisciplinary systems analysis where number of structural equations is over 170,000. Economic model as a core includes major economic variables such as production of GDP, employment, expenditures of GDP, income distribution, prices, money, interest rates and financial assets, government finance, international balance of payments, international finance, foreign exchange rates and development indicators.The purpose of this article is twofold, namely to provide information on a new frontier science of economics: global model simulation as well as appropriate policy exercise for sustainable development of the interdependent global economy. The world economy is facing “green” energy revolution to change from fossil to create alternative energy and energy saving technology against sky rocketing higher oil prices. Japan takes a lead in this field of technology innovation. Under such circumstances, Japan should take an initiative to create a new peaceful world through not only harmonized adjustments of Japanese economic policy but also wise cosmic mind to promote human solidarity with the ever changing nature will be desirable to adjust orbit of the fluctuated global economy. Japan should challenge for a new strategy to accelerate economic growth rates by “CO₂ reducing environment investment” based on technology innovations.     

Ethnic and University Identities across the College Years: A Common In-Group Identity Perspective

The common in-group identity model advocates the creation of a superordinate group identity in order to reduce conflict between members of different ethnic subgroups. This study demonstrates that a university identity can serve as an effective common in-group identity for students from different ethnic groups. Longitudinal data were collected from an ethnically diverse sample of university students at the end of each year of college. Although ethnic identification tended to be correlated with status-legitimizing orientations and ideologies in a way that reinforces ethnic-status differences (i.e., these variables tended to be positively related for Whites but less so for ethnic minorities), the status-legitimizing variables were largely unrelated to university identification during each year in college. The longitudinal data also allowed us to examine these relationships over time. The relationships between ethnic and university identification and status-legitimizing orientations and ideologies did not change. Ethnic and university identities are discussed in terms of the common in-group identity model.