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Full-Text Articles in Economics
The Choice Of Technology And Equilibrium Wage Rigidity, Haiwen Zhou
The Choice Of Technology And Equilibrium Wage Rigidity, Haiwen Zhou
Economics Faculty Publications
In this general equilibrium model, firms engage in oligopolistic competition and choose increasing returns technologies to maximize profits. Capital and labor are the two factors of production. The existence of efficiency wages leads to unemployment. The model is able to explain some interesting observations of the labor market. First, even though there is neither long-term labor contract nor costs of wage adjustment, wage rigidity is an equilibrium phenomenon: an increase in the exogenous job separation rate, the size of the population, the cost of exerting effort, and the probability that shirking is detected will not change the equilibrium wage rate. …
Japan Looks At An Uncertain China: The Role Of Japan's Aid To China, Yixin Yang
Japan Looks At An Uncertain China: The Role Of Japan's Aid To China, Yixin Yang
Graduate Program in International Studies Theses & Dissertations
This thesis discusses the role the Japanese aid has played in accommodating the structural change of Sino-Japanese economic relations and in dealing with the economic and political crisis that has jeopardized their bilateral relations and Japan's own national interest. Japan's early resumption of economic aid to China after Tiananmen reflects how aid philosophy differs from that of most of the other Western aid donors. The conclusions are that Japan's large loan to China has played a vital role in maintaining and strengthening Sino-Japanese economic relations, that the aid has made the interdependent relations between the two countries an asymmetric one, …