The impact of equity markets and corporate governance on labour market flexibility

Drawing from various literatures, this article explores links between equity markets and labour market flexibility. Various data sources are used to test relationships for a set of OECD countries, controlling for other likely influences on flexibility such as government and industrial relations institutions. The results are generally supportive as regards employment flexibility: equity market trading activity is associated with shorter job tenure, higher activity rates, and greater employment change over the cycle. However, the relationship between equity markets and pay flexibility is less statistically robust to the addition of controls.

Kinematic Design of a 6-DOF Parallel Manipulator with Decoupled Translation and Rotation

A new three-limb, six-degree-of-freedom (DOF) parallel manipulator (PM), termed a selectively actuated PM (SA-PM), is proposed. The end-effector of the manipulator can produce 3-DOF spherical motion, 3-DOF translation, 3-DOF hybrid motion, or complete 6-DOF spatial motion, depending on the types of the actuation (rotary or linear) chosen for the actuators. The manipulator architecture completely decouples translation and rotation of the end-effector for individual control. The structure synthesis of SA-PM is achieved using the line geometry. Singularity analysis shows that the SA-PM is an isotropic translation PM when all the actuators are in linear mode. Because of the decoupled motion structure, a decomposition method is applied for both the displacement analysis and dimension optimization. With the index of maximal workspace satisfying given global conditioning requirements, the geometrical parameters are optimized. As a result, the translational workspace is a cube, and the orientation workspace is nearly unlimited.