Higher education and the labour market in Oman

This study aimed to investigate whether there is a mismatch between higher education and the labour market in Oman, the types of this mismatch that exist, and the reasons for this mismatch as they appeared from statistics and interviewees' responses ( the higher education providers, principals from the public sector, and employers from the private sector)

Migrants as Homo economicus : explaining the emerging phenomenon of a shortage of migrant labor in China's coastal provinces

The problem of a shortage of migrant labor is a new development in China's coastal provinces. We discuss the reasons for this emerging phenomenon using a conceptual framework that extends the traditional Lewis dualistic labor market model to incorporate a migrant labor market. We emphasize that migrant labor shortage in China not only reflects a declining wage gap between what peasants receive and what migrants can earn in the cities, but also the institutional legacies of the planning era such as the hukou (household registration) system which discriminates against migrants vis-a-vis urban residents in terms of access to social insurance and other social services. We proceed to draw on a unique survey of migrants and urban residents collected in Jiangsu to show that migrants receive lower incomes, and they have poorer access to social insurance than those with an urban registration in China's cities. Our findings have important implications for the alleviation of the migrant labor shortage problem.

Output and labor productivity in organized manufacturing: a panel cointegration analysis for India

One of the policy puzzles faced in India during the last two and half decades has been the weak association between output and labor markets, particularly in the manufacturing sector. In this research, we investigate the long-run relationship between output, labor productivity and real wages in the case of organized manufacturing. We adjust the measure of labor productivity incorporating bottlenecks, such as lack of infrastructure, access to external finance, and labor regulations, which all may influence labor market outcomes. Using panel data from seventeen manufacturing industries, we establish long-run dynamics for the output-labor productivity-real wages series over a period of nearly three decades. We employ recently developed panel unit root and cointegration tests for cross-sectional dependence to incorporate heterogeneity across industries. Long-run elasticities are generally found to be low for labor productivity compared to real wages due to the changes in manufacturing output. There are variations across industries within the manufacturing sector for the effects of the labor market on manufacturing output. In some industries, lower wages are associated with higher output, and the reason for the positive relationship in other industries could be due to workers' bargaining power.

Transitional labour markets : a social investment and risk mitigation strategy for social policy

Drawing on transitional labor market (TLM) theory, this introductory chapter highlights major themes, overviews the contributions to this volume and suggests a future agenda for policy makers. The focus of applied research projects has been the impact of post-modem social transformations on systems of social protection, looking through the lens of the labor market and shifts in household and family structure. The Transitional Labor Market project uses the TLM model as a means of developing new thinking on how flexibility and innovation might be paired with social investment and new forms of social protection. TLM theory emphasizes the importance of institutions and of the links between different institutions which frequently operate as policy silos, rather than integrated systems to buffer risks and support capability and enhance employability. The great advantage of the TLM model is that it draws attention to the right places for strategic reform. It does not offer a standard set of institutions to facilitate transitions however.

On the determinants of derivative usage by Australian companies

This paper provides an examination of the determinants of derivative use by Australian corporations. We analysed the characteristics of a sample of 469 firm/year observations drawn from the largest Australian publicly listed companies in 1999 and 2000 to address two issues: the decision to use financial derivatives and the extent to which they are used. Logit analysis suggests that a firm's leverage (distress proxy), size (financial distress and setup costs) and liquidity (financial constraints proxy) are important factors associated with the decision to use derivatives. These findings support the financial distress hypothesis while the evidence on the underinvestment hypothesis is mixed. Additionally, setup costs appear to be important, as larger firms are more likely to use derivatives. Tobit results, on the other hand, show that once the decision to use derivatives has been made, a firm uses more derivatives as its leverage increases and as it pays out more dividends (hedging substitute proxy). The overall results indicate that Australian companies use derivatives with a view to enhancing the firms' value rather than to maximizing managerial wealth. In particular, corporations' derivative policies are mostly concerned with reducing the expected cost of financial distress and managing cash flows. Our inability to identify managerial influences behind the derivative decision suggests a competitive Australian managerial labor market.

Eritrean refugees experience in Melbourne

This dataset provides information concerning the patterns of labour market access and the employment outcomes of African refugees in Australia. It focuses on recently-arrived migrants and refugees from Eritrea who came to Australia predominantly on humanitarian grounds. It explores the correlation between academic qualifications and previous employment experiences on the one hand and employment outcomes in Australia on the other. In doing so, a number of related factors including language skills, links to community organisations and level and nature of job assistance services are analysed as variables that potentially impact upon access to and ultimately integration into the labour market.

Biotechnology in U.S. agriculture: Trade consequences for dairy products

The emergence of synthetic bovine Somatotropin (bST) is one of the most widely discussed advances in biotechnology. Its potential impacts on milk production around the world could be significant. However, the exact economic impacts of bST in any one region depends on a number of factors, some of which are still highly controversial.

This article sets out to estimate the economic impacts of the adoption of bST in the United States, the single largest milk producer in the Western world. A quarterly econometric model of the U.S. dairy sector is used to forecast the total production, consumption, and excess supply of milk to 1995. The preliminary results indicate that under the assumption of a gradual rate of adoption and a 15 percent milk production response, the United States could be exporting as much milk as New Zealand by 1995. Should the production response rate or the adoption rate be higher, the United States could indeed become a major competitor in the world dairy market by 1995.

Although such a development could adversely impact on other dairy exporters, such as New Zealand, the precise economic impacts on world prices and trade would depend crucially on the position that other major dairy producers, especially the EC, adopt with respect to the use of bST.

Unions and innovation : new insights from the cross-country evidence

We apply meta-regression analysis to the extant econometric studies and find that unions depress investment in innovation at the firm and industry level in all countries considered. However, this adverse effect has been declining over time and is moderated by country differences in industrial relations and regulations: The adverse effect appears to increase with labor market flexibility.

Dilemmas concerning the employment of university graduates in China

This article draws on a ‘within-subject’ design of employment of university graduates in China over two different periods, namely 2008 and 2014. This research was conducted based on semi-structured interviews and secondary data analysis with four groups of key stakeholders including universities, government agencies, labor-market intermediaries and university graduates. The ‘within-subject’ design enabled an in-depth exploration of how changes at formal and informal institutions affect the employment of university graduates in a fast-changing labor market. The results show that lack of institutional interactions, socially constructed norms that influence graduates’ perceptions and ambiguous directions of educational policies significantly affect university graduates’ employment.

Individual, occupational, and workplace correlates of occupational health and safety vulnerability in a sample of Canadian workers

Objective: To describe OH&S vulnerability across a diverse sample of Canadian workers.
Methods: A survey was administered to 1,835 workers employed more than 15 hrs/week in workplaces with at least five employees. Adjusted logistic models were fitted for three specific and one overall measure of workplace vulnerability developed based on hazard exposure and access to protective OH&S policies and procedures, awareness of employment rights and responsibilities, and workplace empowerment.
Results: More than one third of the sample experienced some OH&S vulnerability. The type and magnitude of vulnerability varied by labor market sub-group. Younger workers and those in smaller workplaces experienced signficantly higher odds of multiple types of vulnerability. Temporary workers reported elevated odds of overall, awareness- and empowerment-related vulnerability, while respondents born outside of Canada had significantly higher odds of awareness vulnerability.
Conclusion: Knowing how labor market sub-groups experience different types of vulnerability can inform better-tailored primary prevention interventions.

Balanced-budget consumption taxes and aggregate stability in a small open economy

In a small open economy facing a perfect world capital market, this paper shows that if the government follows a balanced-budget fiscal policy based on endogenous consumption tax rates, then the steady state is saddle-path stable and hence beliefs-driven aggregate instability can be ruled out. This result is in contrast to those obtained in some closed economy models, and it suggests that unrestricted world capital mobility can help stabilize the economy under the balanced-budget fiscal policy based on consumption taxation.