Всего публикаций в данном разделе: 22246
Опубликовано на портале: 15-12-2002Dani Rodrik American Economic Review. 2000. Vol. 90. No. 2. P. 140-144.
Few would doubt the proposition that political institutions matter for economic development. Yet robust generalizations and systematic evidence on how exactly they do so are lacking. In this paper, attention is drawn to regularity in the cross-national data that has received little attention to date: participatory political regimes are associated with significantly lower levels of aggregate economic instability. After presenting some of the evidence, it is speculated that the reason has to do with the propensity of democracy to moderate social conflict and induce compromise. Three distinct arguments as to why this may be the case are presented.
Опубликовано на портале: 15-12-2002Wei-Yin Hu American Economic Review. 2000. Vol. 90. No. 2. P. 368-372.
Analysis of longitudinal data for immigrants presents a more pessimistic portrait of immigrants' economic success. First, the rate of growth of immigrant earnings was overstated in census-based studies. Second, the worsening of immigrant earnings for more recent arrival cohorts is deeper than previously suggested. Against these two negative findings, one must keep in mind an important caveat. The steeper cohort decline in earnings may be a sign of greater human-capital investment by more recent immigrants. Longitudinal data suggest a strong degree of earnings convergence: immigrants who start at lower earnings quickly make up a large part of the deficit relative to their immigrant counterparts.
Опубликовано на портале: 15-12-2002Finis Welch American Economic Review. 2000. Vol. 90. No. 2. P. 444-449.
Although increased wage inequality among men during the past three decades has received more attention, the growth in women's wages has been equally remarkable. In fact, by one measure of inequality, the ninth-decile/median ratio, the proportional growth in inequality has moved in exact proportion with the female/male wage ratio. It is suggested that both result from expansion in the value of brains relative to brawn. There is no way of knowing the full story of growth in women's relative wages, and it is important not to dismiss the import of changing career patterns. As is evident in the panel data, increasing labor market participation must be important. So, too, are the implications that follow the movement of women from the home to the job.
Опубликовано на портале: 15-12-2002George Loewenstein American Economic Review. 2000. Vol. 90. No. 2. P. 426-432.
Economists have not explicitly denied the existence and significance of visceral factors but have traditionally left them out of their analyses, whether because their influence is perceived as transient and hence unimportant, or because they are seen as too unpredictable and complex to be amenable to formal modeling. An attempt is made to show that both of these assumptions are false. Visceral factors have important, but often underappreciated, consequences for behavior. Moreover, both the determinants of visceral factors and their impact on behavior are not only systematic, but amenable to formal modeling.
Опубликовано на портале: 15-12-2002Lois Joy American Economic Review. 2000. Vol. 90. No. 2. P. 471-475.
Do gender differences in college majors and qualifications account for gender differences in labor market outcomes? For the overwhelming majority of men and women, The Baccalauarate and Beyond Longitudinal Study data suggest that the answer is no. Within the majority of majors and occupations, men earn more than women in first jobs. The exception to this is for science and humanities majors, were men do not obtain a wage advantage over women. However, even within the sciences, women are more than twice as likely as men to end up in clerical first jobs, which are considered by students to be among the least satisfactory jobs.
Опубликовано на портале: 15-12-2002Xavier Gabaix, David Laibson American Economic Review. 2000. Vol. 90. No. 2. P. 433-438.
Cognition requires scarce inputs, including time and concentration. Since cognition is costly, sophisticated decision-makers should use mental shortcuts, or heuristics, to reduce cognitive burdens. A model is proposed and tested that is motivated by these principles. It is believed this model achieves four goals. First, the model makes quantitative behavioral predictions and, hence, provides a precise alternative to the rational-actor hypothesis. Second, the model is psychologically plausible because it is based on the actual decisions algorithms that subjects claim to use. Third, the model is empirically testable; such a test is provided in this paper. Fourth, the model is broadly applicable, because it can be used to analyze decision problems that can be represented in tree form.
Опубликовано на портале: 15-12-2002Karen E. Dynan American Economic Review. 2000. Vol. 90. No. 3. P. 391-406.
This paper tests for the presence of habit formation using household data. A simple model of habit formation implies a condition relating the strength of habits to the evolution of consumption over time. When the condition is estimated with food consumption data from the Panel Study on Income Dynamics, the results yield no evidence of habit formation at the annual frequency. This finding is robust to a number of changes in the specification. It also holds for several proxies for nondurables and services consumption created by combining PSID variables with weights estimated from Consumer Expenditure Survey data.
Опубликовано на портале: 15-12-2002John Hassler, Jose V. Rodriguez Mora American Economic Review. 2000. Vol. 90. No. 4. P. 888-908.
This study develops a model where the allocation of human resources, intergenerational social mobility, and technological growth are jointly determined. High growth endogenously increases the equilibrium return to innate cognitive ability and makes the allocation of individuals depend more on innate ability and less on social background. A social allocation based on innate ability and high growth will thus reinforce each other, implying the possibility of multiple endogenous growth equilibria.
Does culture matter in economic behavior? Ultimatum game bargaining among the Machiguenga of the Peruvian Amazon [статья]
Опубликовано на портале: 15-12-2002Joseph Henrich American Economic Review. 2000. Vol. 90. No. 4. P. 973-979.
This article addresses the assumptions that humans everywhere deploy the same cognitive machinery for making economic decisions and, consequently, will respond similarly when faced with comparable economic circumstances. These assumptions are addressed with experimental evidence from the Peruvian Amazon.
Опубликовано на портале: 15-12-2002Ernst Fehr, Simon Gachter American Economic Review. 2000. Vol. 90. No. 4. P. 980-994.
This paper shows experimentally that there is a widespread willingness of cooperators to punish free-riders. Results indicate that this holds true even if punishment is costly and does not provide any material benefits for the punisher. In addition, evidence is provided that free-riders are punished the more heavily the more they deviate from the cooperation levels of the cooperators.
Опубликовано на портале: 15-12-2002Kristin J. Forbes American Economic Review. 2000. Vol. 90. No. 4. P. 869-887.
This paper challenges the current belief that income inequality has a negative relationship with economic growth. It uses an improved data set on income inequality which not only reduces measurement error, but also allows estimation via a panel technique. Results suggest that in the short and medium term, an increase in a country's level of income inequality has a significant positive relationship with subsequent economic growth.
Опубликовано на портале: 15-12-2002John McLaren American Economic Review. 2000. Vol. 90. No. 5. P. 1239-1254.
This paper analyzes the effects of international openness on vertical integration. Vertical integration can confer a negative externality, by thinning the market for inputs and thus worsening opportunism problems; this induces strategic complementarity and multiple equilibria in the integration decision, thus providing a theory of different industrial systems or industrial cultures in ex ante identical countries. International openness thickens the market, facilitating leaner, less integrated firms, thus providing gains from international openness quite different from those that are familiar from trade theory. This may be taken as one theory of outsourcing, downsizing, and Japanization as consequences of globalization.
From disorganized capitalism to transnational fine tuning?: Recent trends in wage development, industrial relations and 'work' as a sociological category [статья]
Опубликовано на портале: 15-12-2002Raimund Hasse, Hakon Leiulfsrud British Journal of Sociology. 2002. Vol. 53. No. 1. P. 107-126.
The disorganization thesis concentrates upon globalization and market dynamics, which are believed to trigger the breakdown of any kind of institutional structures. The diversity of capitalism approach, by contrast, places much emphasis on the persistence of distinct paths of national economies. Referring to comparative data from the OECD and other sources it is shown that some variables indicate a robustness of national styles of capitalism. Others hint at resemblance: e.g. there is a striking synchronization of the overall and sectoral wage development, there is a significant decrease in industrial disputes, and the class composition tends to become more similar. A move beyond the disorganization thesis and diversity of capitalism approach is suggested. Special attention should be paid to the profound impacts of transnational institutions and knowledge carriers in the form of experts and guidelines.
Опубликовано на портале: 15-12-2002Jocelyn F. Pixley British Journal of Sociology. 2002. Vol. 51. No. 1.
Analyses of global financial markets are dominated by atomized models of decision-making and behavioral psychology (exuberance or panic). In contrast, this paper argues that overwhelmingly, finance organizations rather than individuals make decisions, and routinely use emotions in formulating expectations. Keynes introduced emotion (business confidence and animal spirits) but in economics, emotion remains individualistic and irrational. Luhmann's system theory lies at the other extreme, where emotion like trust and confidence are central variables, functional in the reaction of complexity in sub-systems like the economy. The gap between irrational emotions aggregated to herd behavior in economics, and system trust applied to finance and money as a medium of communication in sociology, remains largely unfilled. This paper argues that while organizations cannot be said to think or feel, they are rational and emotional, because impersonal trust, confidence and their contrary emotions are unavoidable in decision-making due to fundamental uncertainty. These future-oriented emotions are prevalent within and between organizations in the financial sector, primarily in generating expectations. The dynamic of corporate activities of tense and ruthless struggle is a more plausible level of analysis than either financial manias in aggregate or system trust.
Using occupational preference in estimating market wage discrimination: The case of the gender pay gap-decomposition of a reduced-form wage equation [статья]
Опубликовано на портале: 15-12-2002Eric J. Solberg American Journal of Economics and Sociology. 1999. Vol. 58. No. 1. P. 85-113.
Past occupational preference is used to estimate the gender pay gap. The use of predetermined variables in a reduced-form wage equation avoids the bias caused by using variables that are correlated with the random error. Using a gender coefficient, the potential discriminatory gap is about 11.5% when past occupational preference is included. Decomposition yields an estimate of 10.5% when past occupational preference is included. In both cases, the discriminatory gap is close to that obtained when actual occupation is included. This suggests public policy directed toward reducing hiring discrimination by gender might be misdirected.
Flexible working hours, family responsibilities, and female self-employment: Gender differences in self-employment selection [статья]
Опубликовано на портале: 15-12-2002Richard J. Boden American Journal of Economics and Sociology. 1999. Vol. 58. No. 1. P. 71-83.
Using cross-sectional data from the Contingent Work Survey of the February 1995 Current Population Survey, direct evidence is presented that there are substantial gender differences in the reasons why individuals become self-employed. In particular, women - especially women with young children - are more likely than men to cite flexibility of schedule and family-related reasons for becoming self-employed. Men's reasons for becoming self-employed show little association with their parental status. Findings suggest that employers should be encouraged to offer working conditions that are friendly to workers whose family obligations conflict with traditional, 40-hour-per-week jobs.
Опубликовано на портале: 15-12-2002Jin Heum Park American Journal of Economics and Sociology. 1999. Vol. 58. No. 1. P. 43-56.
Evidence is found consistent with the hypothesis that English-speaking ability is an important determinant of earnings of immigrants in the US. Immigrants who do not speak English well acquire English proficiency as well as other skills, and experience faster earnings growth, than immigrants who are fluent in English. For those immigrants whose first language is English or who speak English very well, fluency in English is valuable because it facilitates the transfer to the US labor market of schooling and labor market experience obtained abroad. Documenting and studying the importance of local efforts to teach English to immigrants - such as the English as a second language classes offered by the Chinese American Civic Association, Jewish Vocational Services, and El Centro de Cardenal - will be an important future research task.
Опубликовано на портале: 15-12-2002Franz Ritzmann American Journal of Economics and Sociology. 1999. Vol. 58. No. 2. P. 167-192.
From Rice Vaughan (1675): The first Invention of Money was for a Pledge and instead of a Surety" to John Manyard Keynes (1937): Our desire to hold money as a store of wealth is a barometer of the degree of our distrust, there is a tradition of monetary theory linking the demand for money with the state of confidence. In the early 19th century, Henry Thornton and Thomas Attwood analyzed the shifts in precautionary demand for money and their implications for money supply, production, employment, and the balance of payments. The tradition was interrupted during the late nineteenth and early twentieth centuries and was subsequently revived by Keynes's General Theory.
Опубликовано на портале: 15-12-2002Peter J. Boettke American Journal of Economics and Sociology. 1999. Vol. 58. No. 3. P. 371-384.
Since 1992, the rhetoric of Russian economic reformers has been one of full-speed ahead to a free-market economy. The reality, however, has diverged significantly from this rhetoric at both a broad rules of the game level and specific policy within rules level. The resulting ambiguity of the economic environment and the lingering effects of the previous system which is supposed to be reformed has led to a continued deterioration of the Russian economy. A modified defense of shock therapy as a path to a cure for Russia's economic malaise, as opposed to the cure itself, is offered.
Опубликовано на портале: 15-12-2002Jocelyn F. Pixley American Journal of Economics and Sociology. 1999. Vol. 58. No. 4. P. 1091-1116.
New developments in the sociology of money are outlined. Certain aspects of Post Keynesian monetarism are highlighted and Keynesian concepts of emotions relative to economics and economic sociology are explored. Underdeveloped areas of discourse in both sociology and economics are identified and the resulting superficiality of references to money are examined.