Comparative Political Economy: Comparative Capitalism eJournal最新文献_第3页

Imports and Wage Inequality, Reexamined 重新审视进口与工资不平等

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-04-14 DOI: 10.2139/ssrn.3912985

Julio Mancuso Tradenta, Christis G. Tombazos, Hee-Seung Yang

引用次数: 0

Price Specie Flow Mechanism and the Monetary Approach to the Balance of Payments as Theories of International Adjustment 作为国际调整理论的价格、货币流动机制与国际收支的货币途径

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-04-08 DOI: 10.2139/ssrn.3921669

Joshua R. Hendrickson, Kwabena Boateng

{"title":"Price Specie Flow Mechanism and the Monetary Approach to the Balance of Payments as Theories of International Adjustment","authors":"Joshua R. Hendrickson, Kwabena Boateng","doi":"10.2139/ssrn.3921669","DOIUrl":"https://doi.org/10.2139/ssrn.3921669","url":null,"abstract":"When thinking about how the gold standard worked, economists tend to focus on issues of price level determination and the self-correcting role of gold production.1 Less attention is usually given to the international adjustment mechanism. However, the international adjustment mechanism is critical to understanding how the gold standard actually worked. To the extent that international adjustment is discussed, these discussions generally invoke the price-specie-flow mechanism (PSFM). There is also a focus on the corresponding “rules of the game” of the gold standard. Less commonly discussed is an alternative mechanism of international adjustment, which is known as the Monetary Approach to the Balance of Payments (MABP). In this chapter, we explain that there are two competing theories of price level determination under the gold standard, the Quantity Theory of Money and the Classical Theory. The PSFM is critical to the Quantity Theory. The Classical Theory relies on the MABP. An empirical examination of the international adjustment mechanism is therefore important for understanding how the gold standard actually worked and whether there are “rules of the game” that needed to be followed. We argue that, despite its popularity, there is little evidence that the PSFM is an appropriate description of international adjustment under the gold standard. However, there is evidence to support the MABP. This has important implications about price level determination and the interpretation of historical events, such as the Great Depression.","PeriodicalId":448175,"journal":{"name":"Comparative Political Economy: Comparative Capitalism eJournal","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129273492","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

International Production Networks and the Propagation of Financial Shocks 国际生产网络与金融冲击的传播

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-03-30 DOI: 10.2139/ssrn.3815081

Sihao Chen

引用次数: 0

The Height of Inequality: A Policy Perspective 不平等的高度:一个政策视角

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-03-21 DOI: 10.2139/ssrn.3809144

D. W. Rasmussen

引用次数: 0

Causes of the 2008 Financial Crisis 2008年金融危机的原因

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-03-11 DOI: 10.2139/ssrn.3818501

James Hugie

引用次数: 4

Pandemics and Inequality: Perceptions and Preferences for Redistribution 流行病与不平等:再分配的观念和偏好

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-02-01 DOI: 10.5089/9781513570723.001

V. Balasundharam, Era Dabla‐Norris

{"title":"Pandemics and Inequality: Perceptions and Preferences for Redistribution","authors":"V. Balasundharam, Era Dabla‐Norris","doi":"10.5089/9781513570723.001","DOIUrl":"https://doi.org/10.5089/9781513570723.001","url":null,"abstract":"This paper uses an individual-level survey conducted by the Edelman Trust Barometer in mid-April for 11 advanced and emerging market economies to examine perceptions of government performance in managing the health and economic crisis, beliefs about the future, and attitudes about redistribution. We find that women, non-college educated, the unemployed, and those in non-teleworkable jobs systematically have less favorable perceptions of government responses. Personally experiencing illness or job loss caused by the pandemic can shape people’s beliefs about the future, heightening uncertainties about prolonged job losses, and the imminent threat from automation. Economic anxieties are amplified in countries that experienced an early surge in infections followed by successful containment, suggesting that negative beliefs can persist. Support for pro-equality redistributive policies varies, depending on personal experiences and views about the poor. However, we find strong willingness to provide social safety nets for vulnerable individuals and firms by those who have a more favorable perception of government responses, suggesting that effective government actions can promote support for redistributive policies.","PeriodicalId":448175,"journal":{"name":"Comparative Political Economy: Comparative Capitalism eJournal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122876149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

The Gender Pay Gap Revisited with Big Data: Do Methodological Choices Matter? 用大数据重新审视性别薪酬差距:方法选择重要吗?

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-02-01 DOI: 10.2139/ssrn.3798933

Anthony Strittmatter, Conny Wunsch

引用次数: 9

Robust Optimal Macroprudential Policy 稳健的最优宏观审慎政策

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-02-01 DOI: 10.5089/9781513570754.001.A001

Giselle Montamat, Francisco Roch

{"title":"Robust Optimal Macroprudential Policy","authors":"Giselle Montamat, Francisco Roch","doi":"10.5089/9781513570754.001.A001","DOIUrl":"https://doi.org/10.5089/9781513570754.001.A001","url":null,"abstract":"We consider how fear of model misspecification on the part of the planner and/or the households affects welfare gains from optimal macroprudential taxes in an economy with occasionally binding collateral constraints as in Bianchi (2011). On the one hand, there exist welfare gains from internalizing how borrowing decisions in good times affect the value of collateral during a crisis. On the other hand, interventions by a robust planner that has in mind a model far from the true underlying distribution of shocks, can result in negligible welfare gains, or even losses. This is because a policy that is robust to misspecification, as in Hansen and Sargent (2011), is optimal under a \"worst-case'' scenario but not under alternative distributions of the state. A robust planner introduces taxes that are 5 percentage points higher but does not achieve a significant increase in welfare gains compared to a non-robust planner when the true underlying model is not the worst-case. If households also make choices that are robust to model misspecification, the gains are significantly reduced and a highly-robust planner \"underborrows\" and induces welfare losses. If, however, the worst-case scenario is indeed realized, then welfare gains are the largest possible.","PeriodicalId":448175,"journal":{"name":"Comparative Political Economy: Comparative Capitalism eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129668736","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Earnings Inequality in Production Networks 生产网络中的收入不平等

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-02-01 DOI: 10.3386/W28424

Federico Huneeus, Kory Kroft, K. Lim

{"title":"Earnings Inequality in Production Networks","authors":"Federico Huneeus, Kory Kroft, K. Lim","doi":"10.3386/W28424","DOIUrl":"https://doi.org/10.3386/W28424","url":null,"abstract":"This paper investigates the importance of firm-to-firm production network linkages for earnings inequality. We develop a quantitative model in which heterogeneous firms hire workers of different abilities in an imperfectly competitive labor market and source intermediates from heterogeneous suppliers in a production network. The model delivers an earnings equation with a firm-specific wage premium that depends endogenously on both firm productivities and firm-to-firm linkages in the production network. We establish identification of the model parameters and estimate them using linked employer-employee and firm-to-firm transactions data from Chile. Counterfactual simulations using our estimated model show that heterogeneity in network linkages explains 21% of log earnings variance, while passthrough of productivity shocks via network linkages explains between 20-25% of earnings volatility. We also examine the effects of a minimum wage policy and find strong spillover effects to worker earnings above the wage floor, with substitution of materials for labor explaining around 40% of these effects. \u0000 \u0000Institutional subscribers to the NBER working paper series, and residents of developing countries may download this paper without additional charge at www.nber.org.","PeriodicalId":448175,"journal":{"name":"Comparative Political Economy: Comparative Capitalism eJournal","volume":"10 6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126243114","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 9

СОВРЕМЕННЫЕ ПОДХОДЫ К ИЗМЕРЕНИЮ ГОСУДАРСТВЕННОГО СЕКТОРА ЭКОНОМИКИ И ИХ ИСПОЛЬЗОВАНИЕ В СТРАНОВЫХ СРАВНЕНИЯХ (Modern Approaches to Measuring the Public Sector of the Economy and Their Use in Country Comparisons)

Comparative Political Economy: Comparative Capitalism eJournal Pub Date : 2021-01-12 DOI: 10.2139/ssrn.3860285

A. Radygin, M. Chernova, Alexander E. Abramov

引用次数: 0