Contemporary Economic Policy
Опубликовано на портале: 15-12-2002Alison J. Wellington Contemporary Economic Policy. 2001. Vol. 19. No. 4. P. 465-478.
This article estimates the importance of health insurance coverage on the probability of self-employment. Using data from the 1993 Current Population Survey (CPS), the author focuses on the impact of having health insurance through one's spouse on the likelihood of self-employment. The best estimates suggest that a guaranteed alternative source of health insurance would increase the probability of self-employment between 23 and 4.4 percentage points for husbands and 1.2 and 4.6 percentage points for wives. The author's more conservative estimates suggest that universal coverage could increase the percentage of self-employed in the workforce by 2 to 3.5 percentage points.
Опубликовано на портале: 15-12-2002Murray Leibbrandt, Haroon Bhorat, Ingrid Woolard Contemporary Economic Policy. 2001. Vol. 19. No. 1. P. 73-86.
There has been very little detailed exploration of the relationship between wage income and household inequality in South Africa despite the relevance of this issue for many contemporary growth and development policy debates. This article is directed at such an analysis. It uses a decomposition of household income inequality by income components to highlight the dominance of wage income in driving overall income inequality. This is followed by a detailed discussion of the distribution of the unemployed across different wage-earning household categories. Many of the unemployed are seen to depend on wage earners within their households, but a significant percentage of the unemployed, especially in rural areas, have no direct link to labor market earners. In such cases, the creation of employment is essential. The conclusion explores policy implications by linking our empirical findings to South African debates over the quality versus the quantity of employment.
Опубликовано на портале: 15-12-2002Fahim A. Al-Marhubi Contemporary Economic Policy. 2000. Vol. 18. No. 4. P. 428-439.
Different strands of the political economy approach to macroeconomic policy imply a link between income inequality and inflation. This article tests this proposition using a newly assembled data set on income distribution. The results show that income inequality is associated with higher inflation. This association, although not economically large, holds for democracies as well as nondemocracies. Sensitivity analysis suggests that the results are not due to measurement error, reverse causation, or omitted variables.
Is there a role for transaction cost economics if we view firms as complex adaptive systems? [статья]
Опубликовано на портале: 15-12-2002John Foster Contemporary Economic Policy. 2000. Vol. 18. No. 4. P. 369-385.
This article assesses the usefulness of transaction cost economics when we view economic organizations, such as firms, as complex adaptive systems. Modern complexity science is a radically different in orientation to neoclassical economics, which deals with decision making in contexts that are presumed to be simple and, therefore, disconnected from complex reality. However transaction cost economics can be related to aspects of modern complexity science: bounded rationality, opportunism, and asset specificity are all associated with behavioral complexity.
Опубликовано на портале: 15-12-2002James V. Koch, Richard J. Cebula Contemporary Economic Policy. 2002. Vol. 20. No. 1. P. 25-37.
Faster, frictionless, cheaper, better: these are said to be the hallmarks of economic activity on the Internet. Search theory suggests use of the Internet could reduce the prices consumers pay, but product branding, price discrimination based on data mining, and auctions may raise prices. The Internet has lowered most prices, but raised others, even when shop bots are used. Price dispersion is greater on the Internet, and Internet sellers change their prices more often. The role of intermediaries has not been reduced. The quality of service is idiosyncratic and highly variable. The Internet is a new and distinctive avenue of commerce, but those who argue it has invalidated conventional economic principles are well off base.
Опубликовано на портале: 15-12-2002Debra A. Barbezat, James W. Hughes Contemporary Economic Policy. 2001. Vol. 19. No. 4. P. 409-423.
The hypothesis that individuals increase future earnings by investing in themselves through job change has considerable empirical support. To date, this hypothesis has not been tested on the academic labor market. Using a national faculty survey that includes respondents' complete work history, the authors estimate the impact of job mobility on faculty salaries. The rate of job mobility among faculty members appears low compared to that of other workers. Salaries overall are not significantly related to the number of academic jobs held until the number of jobs reaches four, and then the effect is negative. An examination by gender reveals that women incur a salary penalty of 8% in moving to the second job.