全球智库信息集成服务系统(G2TT): DP1622 Fast Track: Is it in the Genes? The Promotion Policy of a Large Japanese Firm

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP1622
	DP1622 Fast Track: Is it in the Genes? The Promotion Policy of a Large Japanese Firm
	Giorgio Brunello; Kenn Ariga; Yasushi Ohkusa
发表日期	1997-04-30
出版年	1997
语种	英语
摘要	This paper considers the generalized second-best analytics of optimal restructuring under a political constraint, building on the modelling approach in Dehejia (1997). It is shown that the second-best optimum entails administering the terms-of-trade shock fully at the initiation of the reform, just as in shock therapy, but that this must be supplemented with interventions in domestic factor markets. The effects of these interventions are to speed up the exit of the politically affected factor, labour, and to retard the exit of the other factor, capital, both of which serve to prop-up the wages of workers in the declining sector and hence address the political constraint. The results are in the spirit of the neoclassical theory of distortions and welfare: the optimal intervention targets the affected margin directly, in consonance with the ?targeting? principle of Bhagwati-Ramaswami-Johnson.
关键词	General equilibrium Gradualism Political economy Structural adjustment Transition economies
URL	https://cepr.org/publications/dp1622
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/530761
推荐引用方式 GB/T 7714	Giorgio Brunello,Kenn Ariga,Yasushi Ohkusa. DP1622 Fast Track: Is it in the Genes? The Promotion Policy of a Large Japanese Firm. 1997.