This paper brings the differentiation perspective of human resource management (HRM) to China's context of economic transition, and constructs a hybridism rationale to explain the distinctive characteristics of Chinese HRM. We respectively discuss the effect mechanisms of commitment-based, control-based, collaboration-based, and contract-based HRM archetypes in China. Then, by comparing the pat...

This paper considers a Burdett–Judd model of the labor market with two types of equally productive workers and two types of firms, discriminators and non-discriminators. Without policy intervention, there is wage dispersion between and within the two worker groups, but all wage differences become negligible when the taste for discrimination is small. We analyze the effect of an equal–pay policy...

Pecuniary externalities in models with financial friction justify macroprudential policies for preventing excessive risk taking by economic agents. We extend the Diamond and Rajan model of banks production factors explore how a pecuniary externality affects bank's leverage. show that laissez-faire our take on risks compared constrained social optimum. Our numerical simulations suggest crisis pr...

This paper searches for the origins of the relatively successful performance of Hoogovens, the only sizeable steel firm in the Netherlands. It is suggested that Hoogovens has at critical moments benefited substantially from both strategic and financial support, but was basically left to decide its own policies. Luckily, it mostly opted for ‘right’ policies so that the industry’s decline hit les...

This paper introduces endogenous and directed technical change in a growth model with environmental constraints. The final good is produced from "dirty" and "clean" inputs. We show that: (i) when inputs are sufficiently substitutable, sustainable growth can be achieved with temporary taxes/subsidies that redirect innovation toward clean inputs; (ii) optimal policy involves both "carbon taxes" a...

Too often, the examination of the work of a major intellectual figure occurs in an historical vacuum. History has two meanings. One sense is obviously that of the social, political, and economic context within which a specific theoretical development takes place. Would Keynes have written The General Theory had England not suffered economic difficulties following World War I and had the capital...

I believe that no argument is needed to convince the readers that the so-called “hard determinism,” which rules out free will, and hence also independent personal choice, is incompatible with PEL. On the other hand, the “soft” variety of determinism, known under the name “compatibilism,” is oftentimes claimed to be reconcilable with PEL. According to compatibilism, the assumption that every eve...