1,720,959 research outputs found
Does strict employment protection discourage job creation? Evidence from Croatia
Get PDFEmployment protection legislation in Croatia is among the most strict in Europe. Firing is difficult and costly, and flexible forms of employment are limited. Is this apparent rigidity reflected-as one would expect based on standard economic theory-in low labor market dynamics? Is job creation low and hiring limited? Is the job security of insiders achieved at the cost of outsiders not being able to enter thelabor market? The author attempts to answer these questions by examining job flows. If the employment protection legislation is binding, then job and worker turnover should be low. He shows that this is indeed the case. Hiring is limited and the average job tenure is very long in Croatia. Job destruction is low, however job creation is still lower. The result is accumulation of unemployment, in large part due to new labor market entrants not being able to find a job. The high degree of job protection also seems to strengthen the bargaining position of insiders and results in relatively high wages. So, wages in Croatia are higher than among its competitors, even after adjusting for productivity. These high labor costs are likely to contribute to limited job creation in existing firms, but also are likely to discourage the entry of-and thus job creation in-new firms. The author presents evidence that firm growth has been indeed limited in Croatia, contributing to the low employment level. The author examines other potential causes of high unemployment in Croatia (the unemployment benefit system, labor taxation, the wage structure, and skill and spatial mismatches). He argues that they do not play a substantial part in accounting for poor labor market outcomes in Croatia. The author concludes that the stringent employment protection legislation is the key labor market institution behind low job creation and high unemployment. Based on this he recommends specific measures aimed at liberalizing the labor market to foster job creation and employment.Labor Management and Relations,Labor Policies,Labor Markets,Environmental Economics&Policies,Trade Finance and Investment,Labor Markets,Labor Management and Relations,Labor Standards,Banks&Banking Reform,Environmental Economics&Policies
Capital Flows, Country Risk, and Contagion
No full textIt has been widely recognized that both
country-specific and global factors matter in explaining
capital flows. The author presents an empirical framework
that disentangles the relative weight of country-specific
and global factors in determining capital flows. In essence,
his approach first separates the common component of
emerging country spreads from their country-specific
component. The pure country risk and global risk components
are then used as explanatory variables to account for the
observed pattern of capital flows using multivariate
cointegration analyses. The author is able to identify the
relative weight of global and country-specific factors in
explaining capital flows to Argentina, Brazil, Mexico, and
Venezuela in the 1990s. When further decomposing country
risk into its determinants, the author finds that within a
small system it is possible to jointly identify the
determinants of capital flows and sovereign bond spreads. We
find that capital flows are driven by country risk and
global factors ("contagion" and U.S. long-term
interest rates), while country risk is determined by the
primary balance-to-GDP ratio (-) and the ratio of public
debt to GDP (+)
Governance and economic growth
Get PDFBecause protection of property rights cannot be appropriated by any individual, it is widely recognized as being the state's responsibility. Moreover, recent empirical evidence suggests that protection of property rights leads to higher investment levels and faster growth. The extent of property rights protection differs significantly across countries. The author integrates the emergence of property rights within a simple growth framework. Drawing on North (1990), he presents a model where economic performance and enforcement of property rights may reinforce each other.Initial conditions determine the economy's convergence to a high-income or a low-income steady state. Existing empirical evidence offers tentative support for this theory.Judicial System Reform,Labor Policies,Economic Theory&Research,Environmental Economics&Policies,Common Property Resource Development,Economic Theory&Research,Inequality,Common Property Resource Development,Environmental Economics&Policies,Governance Indicators
Can reforming global institutions help developing countries share more in the benefits from globalization?
Get PDFGlobalization could significantly expand trade, international investment, and technological advances, but the gains from global integration have been unevenly distributed across and within nations. Greater global interdependence has also brought greater macroeconomic volatility, resulting in several serious financial crises in the second half of the 1990s. The global matrix of Bretton Woods and United Nations institutions that developed starting in the 1940s, formed under a different balance of power, in a world of fixed exchange rates and limited capital mobility. Since the 1960s regional financial institutions have emerged because of the greater autonomy of different regions and the greater financial needs of development. The author reviews different proposals for reform of the international financial institutions and changes in the roles of the International Monetary Fund (IMF) and the World Bank. He highlights the implications for developing countries of (1) Policy conditionality. (2) The countercyclical role of multilaterals'lending. (3) Greater lending to middle-income than to low-income developing countries. (3) Access to liquidity at times of crisis. (4) Mechanisms for giving low-income countries a greater voice in IMF and World Bank decisionmaking. The author streses the overlapping responsibilities of the Bretton Woods and regional financial institutions and the need to reassess the allocation of responsibilities and to develop better coordination mechanisms between these institutions. Those designing institutional reform must consider the corporate capabilities of each type of institution. The corporate cultures of global and regional institutions differ. So does the kind of knowledge they generate and disseminate, and so do patterns of interactions with, and mechanisms for representation of, client countries.Finally, the author calls attention to the need to harmonize national and global growth-oriented policies in a way that reduces volatility and promotes social equity.Environmental Economics&Policies,Governance Indicators,Financial Intermediation,Economic Theory&Research,Banks&Banking Reform
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Business Cycle Synchronization and Regional Integration: A Case Study for Central America
No full textDispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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