The ＂migrant worker shortage＂ which occurred several）pears ago and the recent ＂labor shortage＂ were both caused by an imbalance between the supply and demand of migrant workers. It is a periodical outcome of spon...The ＂migrant worker shortage＂ which occurred several）pears ago and the recent ＂labor shortage＂ were both caused by an imbalance between the supply and demand of migrant workers. It is a periodical outcome of spontaneous adjustment by the migrant labor market. As rural welfare was greatly enhanced in 2009, migrant workers＇ opportunity cost of working outside their hometowns was raised. The connotation of migrant workers＇ ＂market price＂ is changing. The new generation of migrant workers, namely, those born after 1980, are becoming the mainstay of enterprises＇ employment. Being better educated, they have different lifestyles than previous generations. ＂Leisure and entertainment＂ have become part of their opportunity cost and reduced their labor supply. ＂Labor shortage＂ is an endogenous force that helps transform China＇s growth patter, upgrade the industrial structure and promote urbanization. The seasonal ＂return of migrant workers＂ and the ＂labor shortage＂ which appears around China＇s Spring Festival each year have grown into a unique b,t effective collective bargaining mechanism that helps increase migrant workers＇ wages. Facing labor shortages, governments should regulate the labor market pricing and orientate labor-intensive enterprises towards transition, continue to enhance the social security system for migrant workers and those in rural areas, and make an accurate forecast of the population trend and adjust population policies.展开更多
This paper employs a stochastic endogenous growth model with productive government expenditure in a small open economy to analyze the optimal fiscal policy. First, a stochastic model of a small open economy is constru...This paper employs a stochastic endogenous growth model with productive government expenditure in a small open economy to analyze the optimal fiscal policy. First, a stochastic model of a small open economy is constructed. Second, the equilibrium solutions of the representative agent＇s stochastic optimization problem are derived. Third, we obtain the equilibrium solutions of the central planner＇s stochastic optimization problem and the optimal government expenditure policy. Finally, the optimal tax policy is characterized.展开更多
文摘The ＂migrant worker shortage＂ which occurred several）pears ago and the recent ＂labor shortage＂ were both caused by an imbalance between the supply and demand of migrant workers. It is a periodical outcome of spontaneous adjustment by the migrant labor market. As rural welfare was greatly enhanced in 2009, migrant workers＇ opportunity cost of working outside their hometowns was raised. The connotation of migrant workers＇ ＂market price＂ is changing. The new generation of migrant workers, namely, those born after 1980, are becoming the mainstay of enterprises＇ employment. Being better educated, they have different lifestyles than previous generations. ＂Leisure and entertainment＂ have become part of their opportunity cost and reduced their labor supply. ＂Labor shortage＂ is an endogenous force that helps transform China＇s growth patter, upgrade the industrial structure and promote urbanization. The seasonal ＂return of migrant workers＂ and the ＂labor shortage＂ which appears around China＇s Spring Festival each year have grown into a unique b,t effective collective bargaining mechanism that helps increase migrant workers＇ wages. Facing labor shortages, governments should regulate the labor market pricing and orientate labor-intensive enterprises towards transition, continue to enhance the social security system for migrant workers and those in rural areas, and make an accurate forecast of the population trend and adjust population policies.
基金This research is supported by the National Natural Science Foundation of China （No. 70271069）.
文摘This paper employs a stochastic endogenous growth model with productive government expenditure in a small open economy to analyze the optimal fiscal policy. First, a stochastic model of a small open economy is constructed. Second, the equilibrium solutions of the representative agent＇s stochastic optimization problem are derived. Third, we obtain the equilibrium solutions of the central planner＇s stochastic optimization problem and the optimal government expenditure policy. Finally, the optimal tax policy is characterized.
