the gender earnings differential in the russian transition economy using data from the russia longitudinal monitoring survey rlms the first nationally representative household survey in the russian federation the author examines the gender earnings differentia

the north south divide questions of existence and stability this paper investigates the relationship between regional earnings and unemployment by use of information primarily from the general household surveys of 1975 and 1982 conventional earnings functions are augmented to capture the effects of the level and duration of unemployment and of regional differences in living costs in common with previous studies the authors find personal characteristics and the occupation or industry of employment to be important in earnings determination in this paper however they generally find that although higher unemployment is associated with reduced regional earnings ceteris paribus long term unemployment has little influence in regional earnings determination copyright 1990 by royal economic society

the use of quantile regressions in estimating gender wage differentials a case study of the philippines quantile regressions are used to analyse the size components and nature of the gender earnings differentials as well as the returns to education by gender in the philippines over the entire conditional distribution of earnings using data from the 1999 apis survey this approach allows more focused conclusions about the nature of gender earnings differentials incorporating the quantile regression approach to the oaxaca blinder decomposition allows the localization of gender discrimination to particular quantiles of the earnings distribution and permits more targeted policy intervention

the effects of regulation on research and development theory and evidence while other aspects of the effects of regulation on resource allocation have received considerable attention the impact of regulation on the innovative p ropensities of regulated firms has generated only limited and somewha t tenuous evidence accordingly this article investigates the effect s of regulation and firm structure on research and development r d expenditures a simple model of the behavior of a firm under a rate o f return regulation suggests that both the stringency of the allowed rate of return constraint and the inclusion or exclusion of r d in a firm s rate base will be key determinants of firm level r d expenditu res the empirical results strongly support the theoretical model copyright 1988 by the university of chicago

sector choice multiple job holding and wage differentials evidence from poland this article uses data from poland to investigate the role played by wage differentials between the public and private sectors in influencing sector choice and the decision to moonlight standardising for worker characteristics and allowing for sector selection effects we find i a substantial private sector wage premium ii wage differentials are a significant determinant of sector choice and iii the desire to moonlight is particularly strong among those who face the greatest wage gap that is university educated employees

on decomposing the wage gap a critical comment on blinder s method many studies have found that the impact of schooling on earnings is greater for females than for males despite the fact that females tend to earn less both absolutely and controlling for personal characteristics this study investigates possible

expanding versus greening long term energy and emission transitions in mozambique abstract mozambique is rapidly emerging as one of the leading energy producers in africa we develop a comprehensive scenario analysis to review the energy revolution in mozambique like much of africa mozambique features a competition between development of its vast reserves of renewable energy and fossil fuels we assess the implied energy and emissions transitions as well as the potential impact of a range of sustainable policy options our analysis reveals an emerging energy dichotomy where a spectacular expansion of energy production goes together with an only gradual energy consumption transition we find that over time the share of modern renewable energy sources tends to marginalize in the energy production mix while remaining stable in the energy consumption mix about one third of the ghg emissions associated with energy production can be linked to energy export also we find that sustainable energy policies at the supply side lead to far higher cumulative emission reductions than demand side policies finally we show that even in the long run a complete ban on thermal electricity generation capacity in mozambique would by no means lead to shortages in the domestic electricity market but only slightly limit potential electricity export

banking relationships and access to equity capital markets evidence from japan s main bank system abstract we study the role of banking relationships in ipo underwriting when a firm in japan goes public it can engage an investment bank that is related through a common main bank or can select an alternative investment bank the main bank relationship can be an efficient way for the investment bank to acquire information generated by the main bank but may give rise to conflicts of interest we find that main bank relationships give small issuers increased access to equity capital markets but that issuers of large ipos often switch to non related investment banks that are capable of managing large offerings while investment banks seek to exploit bargaining power with related issuers issuers respond to expected high issue cost by switching to non related investment banks the net result is that total issue costs through related and non related investment banks are similar with respect to aftermarket performance and use of proceeds we find no evidence of conflict of interest or self dealing for either the main bank or the investment bank

the effect of taxation on labour supply the case of moonlighting the authors provide a simple test of supply side economics by estimating the responsiveness of moonlighting labour supply to changes in the marginal tax rate and the wage rate while standard theory teachers that changes in taxes and wage should have opposite and equal effects on labour supply taxes affect the entire asset position of the household in the short run an adjustment of hours in the second job may be the only option available to an individual in responding to a tax change thus analyses based on after tax wages may understate supply side effects to estimate these effects a tobit procedure is employed the empirical results suggest a backward bending supply curve over thet range of moonlighting hours data consist of a subsample of male blue collar workers from the 1978 cross section of the panel study of income dynamics

bootstrapping statistical inferences of decomposition methods for gender earnings differentials applying the standard bootstrapping technique with corrections for heteroskedasticity for a sample of the 1997 urban household survey in china the present article attempts to test 1 whether the commonly used decomposition methods for gender earnings differentials give significantly different results and 2 whether the explained component is significantly different from the unexplained component which is commonly referred to as discrimination within each decomposition method based on a national data set the empirical results indicated some significant differences in both tests the implication of the results is that the proposed bootstrapping technique can be regarded as a guideline on applying which approach to decompose gender earnings differentials among different methods without losing important information and on evaluating the relative importance of the decomposition components for any chosen method

detecting and removing discrimination under equal opportunities policies abstract this paper surveys part of the recent voluminous literature on the economics of discrimination focusing on two key questions first how should discrimination be measured and can in fact unambiguous estimates be derived as the basis for detecting where discrimination is present and setting in train measures to eliminate it second to what extent has the implementation of equal opportunities legislation improved the relative standing of women and minority workers in the labour force this section includes a discussion of the likely effects of recent changes in the law such as the equal value amendment in the uk or the introduction of comparable worth in the usa the survey concludes that our ability to detect discrimination at all precisely is still rudimentary and consequently policy measures are likely to be inefficient for this reason

a bayesian approach to decomposing wage differentials abstract we decompose wage differentials using a bayesian monte carlo markov chain method this method makes it easy to obtain the posterior distributions of the characteristics and coefficients effects used to test the significance of the two effects

intertemporal market effect on gender earnings differentials lawyers in canada 1970 80 the conventional methodology for decomposition of cross sectional earnings differentials is extended to include a market effect on intertemporal changes in earnings and to analyse the changes in gender differentials over time the integrated cross sectional and intertemporal methodology is illustrated by a decomposition of the change in the earnings differential that occurred during the 1970s between male and female lawyers in canada an unprecedented rate of growth in the supply of lawyers during the 1970s in canada was associated with changes in the gender earnings differential in the legal profession this rapid supply growth had an almost negligible net impact on female earnings but a negative impact of 15 on the male earnings this explains the narrowing of the earnings differential by almost 30 over the decade although three fifths of the gender differential in 1970 and half of the differential in 1980 were attributable to the differences in the characteristics of the two groups these chang

participation in marijuana cocaine and heroin consumption in australia a multivariate probit approach this article investigates factors affecting the participation in marijuana cocaine and heroin using micro unit data from an australian national survey on recreational drugs accounting for cross drug correlation potentially induced by unobserved personal characteristics such as individual tastes and addictive personalities we estimate a trivariate probit model where the participation decisions are jointly modelled as a system with correlated error terms the estimated correlation coefficients are significant across all three drugs the study provides valuable empirical information on conditional and joint probabilities of drug participation the multivariate approach is shown to provide better analysis relative to a univariate approach that does not address the endogeneity of all drug participation variables

recent development of energy supply and demand in china and energy sector prospects through 2030 abstract facing multiple pressures including its commitment to energy efficiency improvement the current worldwide recession and global warming concerns china is making great efforts to maintain its continuous economic growth and reduce pollutant emissions many policies to encourage investing in energy efficiency and renewable energy have been issued this article provides insights into the latest development of energy production energy consumption and energy strategic planning and policies in china and also describes the analysis carried out by the authors as part of the asian energy security project using the long range energy alternatives planning leap modeling tool of the impacts of implementing new and expected energy and environmental policies

the economics of moonlighting a double self selection model the model proposed here for obtaining the labor supply functions of moonlighters uses a double self selection system to explore the husband s decision to moonlight together with his wife s decision to work subsequently the labor functions are classified under two regimes depending on whether the wife works the model is estimated based on a cross section of 4 448 married couples from the survey of income and program participation wave 2 i find that the household production time of husbands and wives are substitutes and that specific human capital deters moonlighting copyright 1990 by mit press

natural or unnatural selection the end of lending relationships for small businesses abstractwe investigate the situation where small business borrowers and banks end their lending relationships if credit allocation is efficient banks terminate their relationships with risky borrowers alternatively small business borrowers are more likely to end their relationships when they have poor investment opportunities and do not require borrowed funds however if the soft budget constraints of banks or credit crunches are a significant problem banks are likely to continue their relationships with risky firms or end their relationships with nonrisky firms which is representative of an unnatural credit allocation using japanese firm level data we show empirically that these relationships end naturally with natural credit allocation supported even during the recent global financial crisis

africa energy future alternative scenarios and their implications for sustainable development strategies abstract the long term forecasting of energy supply and demand is of prime importance in africa due to the steady increase in energy requirements the non availability of sufficient resources the high dependence on fossil fuels to meet these requirements and the global concerns over the energy induced environmental issues this paper is concerned with modelling possible future paths for africa s energy future and the related emissions future energy demand is forecasted based on socio economic variables such as gross domestic product income per capita population and urbanisation the long range energy alternative planning system leap modelling framework is employed to analyse and project energy demand and the related emissions under alternative strategies for the period of 2010 2040 results of scenarios including business as usual bau policies moderate energy access and accelerate energy access policies renewable energies promotion and energy efficiency policies and their environmental implications are provided the study provides some policy insights and identifies synergies and trade offs relating to the potential for energy policies to promote universal energy access enable a transition to renewable energy and mitigate climate change for a sustainable development

what s different about banks abstract negotiable certificates of deposit cd s trade in the capital market in competition with other securities like commercial paper and bankers acceptances if cd s must pay lenders competitive monetary interest the reserve tax on cd s is borne by bank borrowers viability of the tax means there must be something special about bank loans that makes some borrowers willing to pay higher interest rates than those on other securities of equivalent risk moreover there must be something special about banks that prevents other intermediaries from competing to assure that it never pays to finance loans with cd s

does bank relationship have an economic value abstract previous empirical studies supported the hypothesis that banks are special due to the existence of private information in this paper we provide further evidence by investigating the effect of the hokkaido takusyoku bank s failure on stock returns of its client firms

market response to bank relationships evidence from korean bank reform abstract this paper examines how the forced closure of failing banks and the transfer of their loans to surviving banks affect the market value of firms that borrow from the closed banks pre existing relationships between firms and the banks that acquire their loans are detrimental to the positive valuation effects of the event banks may have an incentive to favor pre existing relationships to increase the value of previously extended loans therefore loan renewals to firms with prior relationships do not signal borrower quality to the market which is aware of the banks conflicts of interest this study highlights the importance of the specific mechanisms employed to replace failed banks without decreasing the value of their client firms

loan underpricing and the provision of merger advisory services abstract this paper investigates the primary and secondary syndicated bank loan market to analyze the effect on pricing when the financial institution commingles syndicated lending with merger advisory services in particular we investigate the connection between the acquirer s choice of financial advisor in a merger and future financing commitments we find evidence of underpricing of syndicated bank loans in both the primary and secondary market in the primary market we show that non acquisition loans granted by merger advisors to acquiring firms after the merger announcement date are charged a lower all in spread relative to acquisition loans if there has been a prior lending relationship consistent with this finding we find that syndicated bank loans for non acquisition purposes arranged by the acquirer s advisor after the merger announcement date trade in the secondary market at a significant discount since the terms on these non acquisition loans are not set upon merger announcement they are most subject to risk shifting and underpricing agency problems these findings offer evidence consistent with the existence of loss leader and potentially conflicted loans priced at below market terms that are offered by the acquirer s relationship bank advisor in order to win merger advisory business

the supply of off farm labor a random coefficients approach a joint model of off farm labor decisions for farm operator and spouse is presented attention is given to operator and spouse participation decisions as well as associated problems of multiple sample selectivity biases two stage fixed and random coefficient methods corrected for possible selectivity biases are used to estimate supply function parameters results indicate that supply function parameters are random variation in important supply parameters is investigated results also illustrate the importance of spouse decisions on off farm labor supply function structure

union certification success under voting versus card check procedures evidence from british columbia 1978 1998 the author estimates the impact of compulsory election laws on certification success using data on over 6 500 private sector certifications from british columbia over the years 1978 98 a unique quasi experimental design is used by exploiting two changes in the union recognition law first in 1984 the introduction of mandatory elections and second in 1993 the repeal of elections and their replacement by the original card check procedure the author also estimates the effectiveness of management opposition tactics across union recognition regimes success rates declined by an average of 19 percentage points during the voting regime and then increased by about the same amount when card checks were re instituted the results indicate that the mandatory election law can account for virtually the entire decline in addition the findings suggest that management opposition was twice as effective under elections as under card checks

secondary job holding in germany since 2003 the number and ratio of multiple jobholders has more than doubled although the german labour market has been experiencing a strong and sustained upswing this study analyses multiple j

evolution of the gender earnings gap among canadian university graduates this paper reports the results of an empirical analysis of the gender earnings gap among recent canadian bachelor s level university graduates the overall gap as of two years leaving university narrowed significantly across successive cohorts of graduates but widened significantly from two to five years out for all groups differences in the explanatory variables explain account for between 40 and essentially the entire gap across the different periods this portion rising from two to five years out and across cohorts by the final group all of the gap is thus explained at the two year point in time and most of it is explained at the five year mark meaning that labour market returns measured in this manner are largely gender neutral for the last group of graduates hours of work is the single most important influence while past work experience job characteristics family status and province of residence and language have smaller and more mixed effects

the effect of lender identity on a borrowing firm s equity return previous research demonstrates that a firm s common stock price tends to fall when it issues new public securities by contrast commercial bank loans elicit significantly positive borrower returns this article investigates whether the lender s identity influences the market s reaction to a loan announcement although we find no significant difference between the market s response to bank and nonbank loans we do find that lenders with a higher credit rating are associated with larger abnormal borrower returns this evidence complements earlier findings that an auditor s or investment banker s perceived quality signals valuable information about firm value to uninformed market investors previous studies show that certain types of loan announcements generate significantly positive abnormal returns to the average borrower s equity 1 this finding contrasts with the negative equity returns generally associated with a corporation s issuance of public securities smith 1986 this difference in market reactions indicates that private and public securities are not perfect substitutes for the average firm in this sense lender identity defined as public versus private lender significantly impacts the borrower s abnormal equity return the standard theoretical explanation for this difference is that private lenders either obtain private information about the firm s value or they have the incentive and ability to monitor firm behavior more effectively than other outside monitors can although the empirical literature on private lending has evaluated primarily commercial bank loans and lines of credit these theoretical arguments apply equally to any type of private

working part time by choice or by constraint the selection of workers into part time jobs and the wages they earn are analysed using the 1989 labour market activity survey we focus on the distinction between voluntary and involuntary part time workers since involuntary part time workers earn substantially lower wages than other workers we find that the selection of individuals into involuntary part time work is more closely tied to job characteristics than personal or human capital characteristics the lower wage earned by involuntary part time workers is largely due to differences in returns and selection effects rather than differences in endowments

wage determination of registered nurses in proprietary and nonprofit nursing homes this study explores why registered nurses employed in nonprofit nursing homes earn higher wages than those employed in proprietary facilities previous studies have explained this finding in a property rights context where higher wages were posited to result from the weaker incentives for cost minimization accompanying nonprofit status this paper tests an alternative explanation of sectoral wage differences which is predicated on the reason for the coexistence offor profit and nonprofit firms in a given industry informational constraints concerning the quality of care are posited to cause the long term health care market to fail to provide care at the upper levels of a quality of care continuum nonprofits are viewed as a response to this form of market failure acting to fulfill customers demand for higher quality and higher cost long term care with attendant demand for higher quality nurses than in for profit homes both the observed sectoral pattern in selectivity and wage decompositions based on selectivity corrected wage regressions call into question the property right explanation yet are consistent with an asymmetric information explanation

multiple job holding among male workers in greece livanos i and zangelidis a multiple job holding among male workers in greece regional studies this paper studies the incidence of multiple job holding in greece and contributes to the literature by examining its determinants its variance across different regions and the effect of the business cycle on its occurrence the empirical analysis highlights the importance of both pecuniary and non pecuniary motives behind multiple job holding and reveals significant variations in its incidence across regions with areas that have a large primary sector having higher multiple job holding rates finally multiple job holding is found to be pro cyclical with the probability of holding a second job estimated to increase during economic expansion livanos i et zangelidis a les emplois multiples masculins en grece regional studies l article cherche a etudier la frequence des emplois multiples en grece et contribue a la documentation en examinant ses determinants sa variance a travers les diverses regions

alternative information sources and the information content of bank loans this paper examines the information content of bank loan agreements we differentiate borrowers according to financial analysts percentage earnings forecast errors and most recent forecast revisions the empirical results suggest that banks rely on other indicators as initial screening devices to determine where to best deploy their evaluation and monitoring efforts if these other indicators are reliable and signalimproving prospects banks do little further investigation however if the indicators are noisy and signal declining prospects banks have incentives to expend resources to investigate the borrowers resulting in the production of valuable information recent theories of financial intermediation concentrate on the role of banks in reducing informational asymmetry leland and pyle 1977 suggest that informational asymmetries may be the primary reason that intermediaries exist campbell and kracaw 1980 demonstrate that an important function of financial intermediation is the production of information diamond 1984 develops a model which shows that financial intermediaries can exist simply because they provide an efficient means of evaluating and monitoring borrowers these information transmission theories argue that banks provide unique information production services in an imperfect capital market they suggest that banks know more about the prospects of the firms they lend to than do others thus bank loan agreements should convey useful information to the market a number of researchers empirically examine the uniqueness of bank loans fama 1985 approaches the issue by examining the rates on certificates of deposit and other high grade commercial papers he concludes that since bank borrowers bear the cost of reserve requirements there must be something special about bank loans james 1987 conducts an event study around the announcement of bank credit agreements and reports a significantly positive two day announcement return his results provide evidence support

a selectivity model of employer size wage differentials this article investigates wage differentials for employees of different size firms utilizing an econometric methodology that allows the size of employer to be treated as endogenous in the context of discrete ordered employer size data as a result we are able to estimate i employer size wage gaps which are corrected for selectivity bias and ii the magnitude and direction of the selection bias decompositions of the resulting wage differentials are computed with comparisons of the conditional on sorting across employer size and unconditional wage gaps

job amenity and the incidence of double work abstract the hypothesis that workers in jobs associated with an amenity are more prone to moonlighting is derived and tested if earnings fall for such jobs it is rational to have two jobs while for jobs with no amenity a fall in earnings causes a rational worker to leave the sector altogether an amenity can be expected for instance for workers in primary sectors and evidence that farmers at an increasing rate have double occupations are provided the comparative statics on the models shows among other things that wage increases outside the amenity sector may have different effects than wage decreases inside the sector the models are tested on data on farmers and to some extent the regressions support the theoretical models

the impact of unionization on male female earnings differences in canada the impact of unionization on male female earnings differences in canada is analyzed using data spanning 1981 to 1988 a period in which the male female unionization gap narrowed considerably gender differences in union density union wages and nonunion wages are decomposed into characteristics related and discriminatory components we find that the drop in the gender unionization gap prevented an increase of 7 percent in the overall wage differential between men and women also male female earnings differences in the nonunion sector make a substantially larger contribution to the gender earnings gap than do those in the union sector

the dynamics of dual job holding and job mobility this article concerns dual job holding and its link to job mobility we present evidence from u s data on patterns of dual job holding hours changes and job mobility we find that workers move into and out of second jobs frequently that these movements are associated with large changes in work hours and that hours constraints may prompt workers to take second jobs second we review theories of dual job holding and present a stochastic dynamic model of dual job holding and job mobility in which decisions to take second jobs and or change main jobs are made simultaneously

electricity demand and supply scenarios for maharashtra india for 2030 an application of long range energy alternatives planning abstract forecasting of electricity demand has assumed a lot of importance to provide sustainable solutions to the electricity problems leap has been used to forecast electricity demand for the target year 2030 for the state of maharashtra india holt s exponential smoothing method has been used to arrive at suitable growth rates probable projections have been generated using uniform gross domestic product gdp growth rate and different values of elasticity of demands three scenarios have been generated which include business as usual bau energy conservation ec and renewable energy ren subsequent analysis on the basis of energy environmental influence and cost has been done in the target year 2030 the projected electricity demand for bau and ren has increased by 107 3 per cent over the base year 2012 and ec electricity demand has grown by 54 3 per cent the estimated values of green house gas ghg for bau and ec in the year 2030 are 245 2 per cent and 152 4 per cent more than the base year and for ren it is 46 2 per cent less sensitivity analysis has been performed to study the effect on the total cost of scenarios policy implications in view of the results obtained are also discussed

energy policy for low carbon development in nigeria a leap model application this paper applied a scenario based analysis to explore nigeria s future energy demand supply and associated ghg emissions from 2010 to 2040 using the long range energy alternative planning leap model the impact of different energy policies are analysed for the nigerian energy system by considering four scenarios the reference scenario ref the low carbon moderate scenario lcm the low carbon advanced scenario lca and the green optimistic scenario go by considering aggressive energy policies and strategies from lcm to lca and even more aggressive options in the go scenario we find that under the ref scenario energy demand is expected to reach 3 075 pj and a corresponding increase in ghg emissions of 201 2 mt co2e by 2040 more aggressive policy intervention by the nigerian government as in the go scenario would lead to a decrease in energy demand 2 249 pj and ghg emissions 124 4 mt co2e in 2040 a cost benefit and energy system analysis were also carried out in the study

investment bank reputation information production and financial intermediation we model reputation acquisition by investment banks in the equity market entrepreneurs sell shares in an asymmetrically informed equity market either directly or using an investment bank investment banks who interact repeatedly with the equity market evaluate entrepreneurs projects and report to investors in return for a fee setting strict evaluation standards unobservable to investors is costly for investment banks inducing moral hazard investment banks credibility therefore depends on their equity marketing history investment banks evaluation standards their reputations underwriter compensation the market value of equity sold and entrepreneurs choice between underwritten and nonunderwritten equity issues emerge endogenously

family composition and off farm participation decisions in israeli farm households this article studies the relationship between the off farm participation behavior of farm operators and their spouses and the demographic composition of the household we focus on farm families without parents siblings or partners and examine the effects of the existence of elderly children of the farm couple we find that both the father and the mother tend to reduce their participation in off farm work as the number of elderly children rises this result holds even after controlling for observed characteristics we also find that the effect of elderly children stems from considerations related to both farm production and household production

liquidity constraints as a cause of moonlighting an investigation of whether some workers respond to liquidity constraints by moonlighting is carried out using a unique large data set it is found that workers are more likely to moonlight if 1 they have low current incomes relative to their educational attainment and 2 they plan to purchase a house or a car during the next six months

multiple job holding in the united kingdom evidence from the british household panel survey this article examines the determinants of multiple job holding in the uk we address these issues using data from the first 11 waves of the british household panel survey bhps which covered the period from 1991 to 2001 evidence from the bhps does not support the hypotheses of main job hours constrained and main job insecurity we argue that the incentive for moonlighting in the uk is due to financial pressures and the desire for heterogeneous jobs the empirical work is carried out separately for men and women

investment internal funds and public banking in germany abstract previous studies supposed that low investment cash flow sensitivities of german firms may be caused by a dominance of public banking the paper addresses this assumption and applies a unique accounting dataset of german firms results from a dynamic version of the sales accelerator model show that the dependence of investment spending on internal funds does not significantly differ among firms attached to savings banks cooperative banks or commercial banks thus the importance of the public banking sector in germany may not explain the rather low dependence of german firms on internal funds and public ownership of banks does not seem to be important for reducing financing constraints

electricity supply and demand scenarios for the southern african power pool abstract the study presents long term electricity supply and demand scenarios for the twelve countries in the southern african power pool based on detailed bottom up demand analysis for all countries and a set of internally consistent development scenarios total regional electricity demand and supply increase by eight to fourteen times from 2010 to 2070 with major shifts in both the sectoral composition of demand and the geography of demand with south africa becoming a much smaller share on the supply side the fuel mix shifts from coal and toward hydro in the medium term but towards other renewables such as solar in the longer term particularly in the scenarios with the fastest decline in capital costs for renewables this leads to declining unit carbon dioxide emissions in the more aggressive scenarios even though total power sector emissions still increase the unit cost of generation for the entire region is stable across all scenarios the potential transformation of the supply sector would require a fundamental shift in resource use grid management and infrastructure development in the region as well as greater regional integration this also implies significant institutional capacity development in the sapp coordination centre or similar structures for cooperative management of resources

the puzzling pattern of multiple job holding across u s labor markets multiple job holding mjh rates differ substantially across u s regions states and metropolitan areas rates decrease markedly with respect to labor market size these patterns have been largely overlooked despite being relatively fixed over at least the past 20 years this article explores explanations for these persistent differences we account for roughly two thirds of the mean absolute deviation in mjh across local labor markets msas the results suggest that variation in mjh across labor markets is driven by labor market differences in job opportunities and worker preferences most important in explaining variation in mjh are msa industry and occupation structure ancestry shares commute times and to a lesser extent labor market churn

multiple job holding the artist s labour supply approach this article analyses a labour supply model in which individuals maximize a utility function that depends on leisure time consumption and time devoted to an activity that is termed artistic this activity may generate income that depends nonlinearly on hours dedicated to it the individual can also work in the labour market an activity that does not increase utility by itself in exchange for an hourly wage and obtain income not related to hours conditions are obtained that sort individuals into two groups part time and full time artists deriving their labour supply functions in both activities the predictions of the model are tested empirically using a sample of musicians from a uruguayan performing rights society increases in outside wages drive part time artists out of the labour market but no significant increase in arts hours is detected higher nonlabour income also reduces nonarts work time of part time artists but does not have a significant impact in their arts hours conversely arts

labor market discrimination against hispanic and black men h ispanic american men have lower average wage rates than white non hispanics in 1975 the average white non hispanic male wage earner in the united states earned 5 97 an hour mexican men earned 4 31 72 as much as white non hispanics puerto rican men earned 4 52 76 as much and cuban men earned 5 33 89 as much as white non hispanics by way of comparison black men s average wages in 1975 were 4 65 78 of the white male wage several possible reasons for the hispanics lower wages come to mind among them are age and education geographic location immigration language difficulties and discrimination for example as shown in table 1 mexicans and puerto ricans are younger on average than the white non hispanic population and earnings tend to rise with age hispanics have lower average levels of education than white non hispanics and wages are positively associated with education many mexican americans live in the southwest where prices are relatively low moreover hispanics are more likely to be recent immigrants and to lack fluency in english than white non hispanics and so to be at a disadvantage in the labor market in addition there is a widespread belief that hispanics suffer from employment discrimination and cannot obtain the wages that their human capital would command if they were non hispanic whites how much of the wage differentials described above are due to each of these factors and to other inter group differences in wage related characteristics in particular how much impact does labor market discrimination have on the average hispanic man s wage and how does this compare with discrimination against blacks this paper provides answers to these questions a few other efforts have been made to analyze the relative earnings of hispanic and white nonhispanic men using 1960 and 1970 census data fogel 1966 poston and alvirez 1973 poston alvirez and tienda 1976 long 1977 and gwartney and long 1978 we use more recent data from the 1976 survey of income and education this data set enables us to measure wage rates more accurately and to specify the wage function more completely than does the census unlike previous analysts in estimating the wage function we take account of possible selectivity bias due to the distinction between average wage offers and average observed wages thus we hope to obtain a more accurate and up to date measure of labor market discrimination against hispanic men section ii explains the method used to separate the minority white non hispanic wage differential into the portions due to differences in average characteristics and the portion due to differences in unobserved factors and discrimination taking into account the possibility of selectivity bias in the observed wage sample section iii describes the data used in the study and the specification of the wage equation the breakdown of the observed wage differentials into components due to differences in participation in the wage and salary sector local price levels average characteristics and discrimination are presented in section iv section v summarizes our findings and discusses their implications for efforts to improve the economic situation of hispanics in the united states

moonlighting over the business cycle i introduction during economic downturns employment levels fall unemployment rates increase and real wages drop as such real wages are considered somewhat procyclical yet very little is known about the cyclicality of multiple job holding from a graphical analysis of national time series moonlighting data during the 1960s and 1970s stinson 1987 finds evidence of large increases in moonlighting during expansionary periods likewise partridge s 2002 findings support the possibility of procyclical multiple job holding yet the popular media and employment think tanks discuss moonlighting as a by product of financial pressures 1 furthermore the idea that individuals may hold multiple jobs during an economic downturn in order to supplement family income is consistent with the so called added worker effect in the labor economics literature why should we care about the cyclicality of multiple job holding in the economy there are numerous reasons first moonlighting has played and can be expected to continue to play a visible role in the u s workforce the moonlighting rate was 5 2 as of 1970 with 7 0 of male workers and 2 2 of female workers holding multiple jobs this moonlighting rate remained practically unchanged over the course of the next 30 yr yet its gender incidence did fluctuate in particular the female moonlighting rate grew over the past several decades from the above listed 2 2 in 1970 to 3 8 in 1980 and to 5 9 in 1991 and exceeded the male rate for the first time in 1995 6 5 vs 6 3 in may 2007 the moonlighting rate was still similar to the moonlighting rate in 1970 i e 5 3 although now females are much more likely to moonlight than men with rates of 4 9 vs 5 7 2 considered over the course of an entire year vs at a point in time an even larger percent age of workers hold second jobs in this regard paxson and sicherman 1996 p 357 note that approximately 20 of male workers and 12 2 of female workers hold second jobs in any given year 3 as these numbers suggest moonlighting is a substantively important labor market phenomenon however it is much understudied in fact our review of the literature to follow will show that only a handful of research papers have studied this phenomenon thus our primary motivation for writing the paper is to shed light on a poorly understood yet numerically important feature of the labor market a second reason for examining the cyclicality of multiple job holding is the potential importance of moonlighting in facilitating labor supply adjustments during temporary economic downturns or upturns 4 through a description of moonlighters our analysis will shed light on how workers respond to fluctuations in job opportunities across the business cycle macroeconomists and labor micro economists have long studied employment cyclicality in an attempt to improve the explanations of the changing composition of the labor force over business cycles for example the added and discouraged worker effects 5 third as one part of the broader picture of economic cyclicality our study fits nicely into the ongoing debate concerning the cyclicality of real wages 6 considerable research effort has been devoted to understanding the nature of real wage fluctuations across business cycles yet these studies are muddied by a glossing lack of distinction between workers average real wages across all jobs and their wages in the primary job alone understanding the role that moonlighting may play in employment cyclicality may inform the debate concerning the measurement of real wages when studying real wage cyclicality a final and policy relevant motivation for this research refers to the structure of employment taxes affecting secondary jobs as explained by anderson and meyer 2003 unemployment insurance ui payroll taxes are highly regressive in large part because benefits are structured in the same way

the definition of part time employment a switching regression model with unknown sample selection rejecting the standard less than thirty five hours per week categorization of part time workers this paper offers an empirically justified definition of the part time employed the definition is based on the distinction through wage payments that employers make between a high hours full time and a low hours part time group of workers a switching regression model of wage equations with deterministic but unknown sample selection is estimated resulting in a significant split between high hours and low hours workers that is higher than the standard definition wage differentials are calculated and decomposed and estimates from the structural choice model are presented copyright 1991 by economics department of the university of pennsylvania and the osaka university institute of social and economic research association

moonlighting multiple motives and gender differences this paper examines the incidence and reasons for moonlighting with a focus on gender differences the study specifies and estimates a bivariate probit model of labour supply and the decision to hold more than one job it is found that the factors leading men and women to moonlight are similar a wage decomposition analysis reveals that 93 percent of the differential between male and female moonlighters wages is not explained by differences in characteristics and little connection is found between an individual s human capital and their moonlighting wage finally it is found that moonlighters are less likely to report their income

on the profitability and cost of relationship lending abstract we provide evidence on the costs and profitability of relationship lending by banks we derive bank specific measures of loan rate smoothing for small business borrowers in response to exogenous shocks to their credit risk and to interest rates and then estimate cost and profit functions to examine how smoothing affects bank costs and profits our results suggests that in general loan rate smoothing in response to a credit risk shock is not part of an optimal long term contract between a bank and its borrower while loan rate smoothing in response to an interest rate shock is

utility based estimation of labour supply functions in the regular and irregular sectors recent theoretical work on labor supply has shown that the tax and transfer system can induce some individuals to work in the irregular labor market models designed to represent such behavior are unable to sign unambiguously the impact of the marginal tax rate as well as many key exogenous parameters on the hours supplied in the irregular market except under strong restrictions on preferences in this paper the authors estimate a simultaneous labor supply model that allows testing some of the more common assumptions found in the literature using a unique data set on the underground economy of the metropolitan area of quebec city canada estimates of elasticities with respect to predetermined variables are presented moreover they test and empirically reject the assumptions of perfect substitution between regular and irregular work activities as well as additive separability of the utility function copyright 1992 by royal economic society

multiple versus single banking relationships theory and evidence a theory of the optimal number of banking relationships is developed and tested using matched bank firm data according to the theory relationship banks may be unable to continue funding profitable projects owing to internal problems and a firm may thus have to refinance from nonrelationship banks the latter however face an adverse selection problem as they do not know the quality of the project and may refuse to lend in these circumstances multiple banking can reduce the probability of an early liquidation of the project the empirical evidence supports the predictions of the model

a time series analysis of labour absence in australia the authors find evidence from australian time series data supporting two hypotheses about the determination of labor absence first labor absence modeled in a utility maximizing framework that stresses the opportunity cost of labor absence receives considerable support from the data variables that change the slope and or shift the budget constraint facing workers affect labor absence secondly the authors find tentative evidence that coercive or difficult work environments which apparently affect job satisfaction adversely affect labor absence in particular it appears that labor absence is a leading indicator of a deteriorating industrial relations environment characterized by increased industrial disputation copyright 1989 by mit press

are good or bad borrowers discouraged from applying for loans evidence from us small business credit markets this paper takes the concept of a discouraged borrower originally formulated by kon and storey kon y storey d j 2003 a theory of discouraged borrowers small business economics 21 37 49 and examines whether discouragement is an efficient self rationing mechanism using us data it finds riskier borrowers have higher probabilities of discouragement which increase with longer financial relationships suggesting discouragement is an efficient self rationing mechanism it also finds low risk borrowers are less likely to be discouraged in concentrated markets than in competitive markets and that in concentrated markets high risk borrowers are more likely to be discouraged the longer their financial relationships we conclude discouragement is more efficient in concentrated than in competitive markets

future energy system challenges for africa insights from integrated assessment models although africa s share in the global energy system is only small today ongoing population growth and economic development imply that this can change significantly here we discuss long term energy system developments in africa using results of a recent model inter comparison study on global climate policy we focus on africa s role in the wider global energy system and in global climate mitigation the results show a considerable spread in model outcomes emphasizing the large uncertainty regarding africa s energy future without climate policy africa s share in global energy related co2 emissions is projected to increase to 3 23 by 2100 emissions become significant on a global scale only after 2050 in none of the model projections the international ambition to provide universal modern energy access by 2030 is achieved furthermore although the continent is currently a large net exporter of oil and natural gas towards 2050 the model projections emphasize that africa needs most of its resources for its rapidly growing domestic demand however the projected rapid expansion of their energy system also implies that africa gains importance in global mitigation action an important challenge is to align the increasing investments in the energy system with climate policy and potential revenues from international carbon trading

wage differentials and moonlighting by civil servants evidence from cote d ivoire and peru as part of their efforts to reduce fiscal deficits many governments have allowed public sector salaries to erode often on the assumption that government workers are overpaid vis a vis those in the private sector that assumption is tested by analyzing public private pay differentials in cote d ivoire and peru switching regressions models are estimated using full information maximum likelihood fiml and the results are compared to those obtained using ordinary least squares ols techniques the ols yields seriously biased estimates of the pay structure suggesting that public wages are higher than private wages the fiml estimates show the opposite our probit analysis also shows that the wage disadvantage of civil servants is a determinant of the greater prevalence of moonlighting among public than private employees the evidence suggests that reductions in employment rather than pay while being less palatable in the short term will be more effective in the long run

on the decomposition of wage differentials the often used method for decomposing wage differentials into human capital and discrimination components is reformulated so that both t he disadvantage or cost discrimination it imposes on a black or minority wage earner and the advantage or benefit it bestows on a white or majority wage earner can be estimated copyright 1988 by mit press

is it all about money an examination of the motives behind moonlighting multiple job holding is an important labour market phenomenon in this article we examine individuals motives for multiple job holding specifically we estimate an empirical model of the motivation for moonlighting assuming that individuals hold a second job for either financial or for nonpecuniary motives our results contribute to a better understanding of multiple job holding we find that multiple job holding is used by individuals as a way to deal with the financial difficulties or the increased financial commitments in their household individuals are more likely to moonlight for money in the early stages of their adult life finally individuals with more labour market experience are more likely to moonlight for pecuniary than nonpecuniary reasons

introducing mozleap an integrated long run scenario model of the emerging energy sector of mozambique since recently mozambique is actively developing its large reserves of coal natural gas and hydropower against this background we present the first integrated long run scenario model of the mozambican energy sector our model which we name mozleap is calibrated on the basis of recently developed local energy statistics demographic and urbanization trends as well as cross country based gdp elasticities for biomass consumption sector structure vehicle ownership and energy intensity we develop four scenarios to evaluate the impact of the anticipated surge in natural resources exploration on aggregate trends in energy supply and demand the energy infrastructure and economic growth in mozambique our analysis shows that until 2030 primary energy production is likely to increase at least six fold and probably much more this is roughly 10 times the expected increase in energy demand most of the increase in energy production is destined for export as a result mozambique may well become one of the leading global producers of natural gas and coal we discuss the opportunities and challenges that this resource wealth poses for the country

the benefits of lending relationships evidence from small business data this paper empirically examines how ties between a firm and its creditors affect the availability and cost of funds to the firm we analyze data collected in a survey of small firms by the small business administration the primary benefit of building close ties with an institutional creditor is that the availability of financing increases we find smaller effects on the price of credit attempts to widen the circle of relationships by borrowing from multiple lenders increases the price and reduces the availability of credit in sum relationships are valuable and appear to operate more through quantities rather than prices

the long term forecast of taiwan s energy supply and demand leap model application abstract the long term forecasting of energy supply and demand is an extremely important topic of fundamental research in taiwan due to taiwan s lack of natural resources dependence on energy imports and the nation s pursuit of sustainable development in this article we provide an overview of energy supply and demand in taiwan and a summary of the historical evolution and current status of its energy policies as background to a description of the preparation and application of a long range energy alternatives planning system leap model of taiwan s energy sector the taiwan leap model is used to compare future energy demand and supply patterns as well as greenhouse gas emissions for several alternative scenarios of energy policy and energy sector evolution results of scenarios featuring business as usual policies aggressive energy efficiency improvement policies and on schedule retirement of taiwan s three existing nuclear plants are provided and compared along with sensitivity cases exploring the impacts of lower economic growth assumptions a concluding section provides an interpretation of the implications of model results for future energy and climate policies in taiwan

the shadow margins of labor market slack we use a mix of new and existing data to develop the aggregate hours gap ahg a novel measure of labor market underutilization our measure differentiates individuals by detailed categories of labor market participation and uses data on their desired work hours as a measure of their potential labor supply we show that desired hours vary widely by demographics and detailed labor force status and that the gap between desired and actual work hours is strongly positively correlated with reported search effort the aggregate hours gap suggests a more sluggish labor market recovery since the great recession than either the official unemployment rate or alternative measures of labor market underutilization modest amounts of underutilization among the part time employed and a substantial degree of underutilization among those out of the labor force account for the disparity the aggregate hours gap also does well in accounting for wage movements over our sample period

the probability of receiving benefits at different hours of work this study finds that in probit equations 50 of people working 35 hours per week in the us will not be offered benefits or health insurance through their employers to replace services received while on welfare women with an average of 39 hours of work per week have an average 76 probability of being offered medical benefits as one of three example options while men working an average of 43 hours per week have on average a 72 probability of being offered medical benefits the probability of being offered medical insurance life insurance and retirement benefits is slightly over 20 for working 35 hours per week although women have a slightly higher probability of being offered all the benefits individuals with children have a lower probability of being offered all the benefits which is not significant for medical insurance retirement or flexible work schedules individuals working for large firms have a greater probability of being offered benefits excluding flexible scheduling and profit sharing working longer hours increases the probability of receiving benefits except in training situations higher wages are found in the three stage least squares estimation in reduced form equation to be related to more work experience higher aptitude test scores residence in a standard metropolitan statistical area work at larger firms more work hours per week and not being single data are obtained from the 1991 us national longitudinal survey of labor market experience of youth among 1988 persons 26 34 years old who worked and were paid an hourly wage persons in the sample earned an average of 9 00 per hour and worked slightly more than 41 hours per week 33 were black 20 hispanic and slightly under 50 were female about 60 had a child under 6 years old the average firm size was 5205 employees

the japanese energy sector current situation and future paths abstract as the world s third leading economy and a major importer of fuels the choice of future energy paths and policies that japan makes in the next few years will have a significant influence on the energy security of the world as a whole and of the northeast asia region in particular in this article we describe the current status of and recent trends in the japanese energy sector including energy demand and supply by fuel and by sector we then discuss the current energy policy situation in japan focusing on policies related to climate change targets renewable energy development and deployment liberalization of energy markets and the evolution of the japanese nuclear power sector the final section of the article presents the structure of the japan leap long range energy alternatives planning software system dataset describes several alternative energy paths for japan with an emphasis on alternative paths for nuclear power development and ghg emission abatement and touches upon key current issues of energy policy facing japan as reflected in the modeling inputs and results

tanzanian formal sector workers participation in informal production a theoretical model is developed explaining formal sector workers participation in the informal sector a reduced form informal sector participation function is derived from a specific utility function a specific informal sector production function and a specific informal sector earnings function the participation function can be estimated consistently and provides a solution to the problem that informal sector wages in developing countries are hard to observe a sample of tanzanian formal sector workers is used to estimate the participation function a majority of tanzanian formal sector workers participate in informal production participation in informal production is inversely related to household income to living in dar es salaam and to being a mother with small children participation is positively related to age and multiple job holding seems to play a very different role in the transition from work to retirement in tanzania compared to industrialized countries