We study the labor market effects of realignment in fixed bilateral exchange rates, such as China’s peg to the US dollar. We employ the open economy model developed by de Melo and Robinson to identify the core parameters of the real, trade side of the economy driving the unemployment effects of bilateral exchange rate realignment. A small open economy version of the model is explored analytical...

The regulation by law on recycling economy at the enterprise and ecological industrial park level serves as the base of leveled regulation by law on recycling economy. The recycle of enterprise internal sources is the key for developed countries developing recycling economy. Following the requirements of recycling economy, countries constitute relevant laws and regulations, offering an institut...

It is widely recognized that a Share Economy (SE) Pareto-dominates a FixedWage Economy (FWE) if unions care about employment. This begs the question, why profit sharing is less than ubiquitous. In this paper, we offer a solution to this conundrum by looking at particular transition arrangements from a FWE to a SE. We analytically show that despite the Pareto-dominance of a SE, the changeover fr...

It is widely agreed that the references of indexical expressions are fixed partly by their relations to contextual parameters such as the author, time, and place of the utterance. Because of this, indexicals are sometimes described as token-reflexive or utterance-reflexive in their semantics. But when we inquire into how indexicals help us to identify items within experience, we find that while...

The affordances introduced by digital technologies are reshaping consumption practices. Individuals are now engaging in networks rather than markets, and ownership-based consumption is giving way to the previously unattractive access-based, collaborative consumption. Such consumption practices produce different relationships between objects and personal identity, on which there is limited resea...

The paper studies the patterns of volatility in firm-specific growth rates and stock prices during the early phase of the life-cycle of an old economy industry, the US automobile industry from 1900–1930, and a new economy industry, the US PC industry from1974–2000. Strikingly similar patterns of volatility are discovered in the early phases of the two industries. The comparison sheds light on t...

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