Gender Unemployment Dynamics: Evidence from Ten Advanced Economies

The paper investigates gender unemployment dynamics in 10 advances economies applying a recent methodology on widely available Labour Force Surveys data. We calculate the job finding and separation rates for each gender and use them to construct the steady‐state unemployment gap as well as two counterfactual gender unemployment gaps: one generated by differences only in job finding rates and the other by differences only in separation rates. We find that in all countries the gender unemployment gap attributed to differences in the job finding rate is lower than the gap attributed to differences in the separation rate, suggesting that gender differences in the separation rate are the major factor behind the gender unemployment gap.     

What Survey Data Reveal about Price and Wage Rigidity in Portugal

This paper exploits the information collected from a survey conducted on a sample of Portuguese firms to study the patterns of firms’ price and wage adjustments and the extent of nominal price and wage rigidities. The evidence shows that the frequency of price changes varies substantially across sectors and depends on the intensity of competition, the share of labor costs and firms’ price reviewing behavior. The results also suggest that the constraint imposed by the presence of downward nominal wage rigidity is less important in firms where the fraction of permanent and high‐skilled workers is lower and the share of flexible pay components is higher.     

THE DEMAND FOR LIQUID ASSETS,CORPORATE SAVING,AND INTERNATIONAL CAPITAL FLOWS

The recent period of capital outflows from emerging economies has coincided with an increase in their corporate saving. In this paper, we model corporate saving as a demand for liquid assets by credit‐constrained firms in a dynamic open‐economy macroeconomic model. We find that the implications of this model are very different from standard models, because the demand for foreign bonds is a complement to domestic investment rather than a substitute. We show that this complementarity is at work when an emerging economy is on its convergence path or when it has a higher TFP growth rate. This framework is consistent with a number of stylized facts found in high‐growth, high‐investment emerging economies.     

MANAGED COMPETITION IN HEALTH INSURANCE

Rising healthcare costs have sparked debate about the best way to provide high‐quality affordable health insurance. We discuss the potential for regulated insurance markets to outperform single‐payer public insurance. We use as an example the private Medicare plans that now provide insurance to almost a third of seniors in the United States. The evidence suggests that private plans can limit costs and potentially appeal to enrollees, and that well‐designed risk adjustment can mitigate market failures due to adverse selection. However, fostering competition between insurers, especially in smaller markets, is difficult. We discuss how future research might illuminate the relative advantages of public and private health insurance.     

THE FAILURE TO PREDICT THE GREAT RECESSION—A VIEW THROUGH THE ROLE OF CREDIT

Much has been written about why economists failed to predict the latest crisis. Reading the literature, it seems that this crisis was so obvious that economists must have been blind not to see it coming. We approach this failure by looking at one of the key variables in this analysis, the evolution of credit. We compare the conclusions reached in the recent literature with those that could have been drawn from an ex‐ante analysis. We show that the effect of credit on the business cycle cannot be exploited from a policymaker's point of view.     

基于单片机的无线遥控小车研究与实现

本文介绍了一种由STC12C5A60S2单片机控制的无线遥控小车,采用控传和图传独立设计的思想,即数据收发模块进行控制和温度数据的传输,图传模块负责作业环境的图像传输.控传部分以STC12C5A60S2单片机为核心,利用NRF24L01+模块数据收发,L298N电机驱动两路直流电机,使小车完成相应动作;DS18B20负责检测温度,由小车收发模块发射,LCD1602液晶模块显示.系统采用模块化设计,结构紧凑,便于优化,且可靠性能高.