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作者：Horioka, CY
摘要：This paper estimates the magnitude of net capital gains on household wealth in Japan and then conducts an econometric analysis of their impact on consumption using National Accounts data for the 1955-93 period. It finds that net capital gains on household wealth have been sizeable albeit volatile in Japan during this period and that their impact on consumption has been substantial, especially during the late 1980s and early 1990s. The econometric analysis is one of the first cointegration anal...
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作者：Main, BGM; Bruce, A; Buck, T
作者单位：University of Nottingham
摘要：Using a hitherto neglected source of data, this paper combines executive emoluments with executive share options to construct a broader measure of executive pay than has been possible in earlier British studies. The result of including the long-term share option component of pay along with the more commonly utilised short-term component of emoluments is to reveal executive pay as being significantly more sensitive to company performance than has previously been thought to be the case. The pape...
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作者：Sahay, SN; Rees, H
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作者：Blomqvist, HC
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作者：Duncan, A; Giles, C
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作者：Calvo, GA; Vegh, CA
作者单位：University of California System; University of California Los Angeles
摘要：In high inflation countries, policymakers often end up paying interest an part of the money supply. Higher interest rates on money have been used as a disinflationary policy. This paper analyses the effectiveness of such a policy in the context of a closed-economy, staggered-prices model. Both a permanent and a temporary rise in the interest rate on money provoke an initial fall in inflation, at the expense of a recession. When the rise is temporary, however, the initial inflation slowdown is'...
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作者：Moore, L
作者单位：University of Oxford
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作者：Cameron, J
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作者：Holscher, J
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作者：Teal, F
作者单位：University of Oxford
摘要：The potential sources of rent to labour in a developing country urban labour market are considered in this paper. The data set used enables the relative importance of unions, firm size, profitability, ownership and firm age to be assessed on the basis of cross-section evidence. It is shown that all these factors affect earnings. A panel data based estimation of the importance of the profitability term provides strong support for a rent sharing theory of wage determination in a developing count...
