http://chineseinput.net/에서 pinyin(병음)방식으로 중국어를 변환할 수 있습니다.
변환된 중국어를 복사하여 사용하시면 됩니다.
Market Led Industrialization and Globalization
Sachs, Jeffrey,Yang, Xiaokai 세종대학교 국제경제연구소 2002 Journal of Economic Integration Vol.17 No.2
The paper introduces asymmetric production conditions between firms and asymmetic transaction conditions between countries into the Murphy-Shleifer-Vishny model of industrialization. It explores a general equilibrium mechanism that generates circular causation loop that each firm's profitability and its decision of involvement in a network of industrial linkages is determined by the size of the network, while the network size isin turn determined by all firms' decisions of participation. It shows that the very function of the marker is to network relevent self-imterested decision-markers and to utilize the network effects of industrialization, though this function is not perfect. Hence, market led industrialization will gradually spread until the whole world economy is integrated in a single network of trade and industrial linkages as trading efficiency is improved. This paper devises a new approach to apecifying zero profit condition for a marginal modern firm, while keeping original feedback loop between positive profit and the extent of the market of the MSV model. Hence, this new method and the trade off between economies of scale and transaction costs can be used to endogenize the number of modern sectors, thereby increasing applicability of this type of models.
Market Led Industrialization and Globalization
( Jeffrey Sachs ),( Xiao Kai Yang ) 세종대학교 경제통합연구소 2002 Journal of Economic Integration Vol.17 No.2
The paper introduces asymmetric production conditions between firms and asymmetric transaction conditions between countries into the Murphy-Shleifer-Vishny model of industrialization. It explores a general equilibrium mechanism that generates circular causation loop that each firm`s profitability and its decision of involvement in a network of industrial linkages is determined by the size of the network, while the network size is in turn determined by all firms` decisions of participation. It shows that the very function of the market is to network relevant self-interested decision-makers and to utilize the network effects of industrialization, though this function is not perfect. Hence, market led industrialization will gradually spread until the whole world economy is integrated in a single network of trade and industrial linkages as trading efficiency is improved. This paper devises a new approach to specifying zero profit condition for a marginal modern firm, while keeping original feedback loop between positive profit and the extent of the market of the MSV model. Hence, this new method and the trade off between economies of scale and transaction costs can be used to endogenize the number of modern sectors, thereby increasing applicability of this type of models.
Labor Market Performance in OECD Countries: The Role of Institutional Interdependencies
Andreas Sachs,Schleer, Frauke 한국국제경제학회 2019 International Economic Journal Vol.33 No.3
Reducing rigidity in labor markets is key to lowering unemployment. Theoretical models suggest that the impact of such reforms depends on the country-specific regulatory framework. We test this hypothesis by estimating the impact of changes in six categories of regulation conditional on the country-specific regulatory environment for 26 OECD countries. We overcome problems of modeling a large set of institutional interdependencies by applying a machine learning type model selection approach. We provide evidence for the existence of higher-order institutional interdependencies. We further document that especially for changes in employment protection and the unemployment benefit system the impact on unemployment is mixed across countries.