Product market reforms, labour market institutions and unemployment

We analyze the impact of product market competition on unemployment and wages, and how this depends on labour market institutions. We use differential changes in regulations across OECD countries over the 1980s and 1990s to identify the effects of competition. We find that increased product market competition reduces unemployment, and that it does so more in countries with labour market institutions that increase worker bargaining power. The theoretical intuition is that both firms with market power and unions with bargaining power are constrained in their behaviour by the elasticity of demand in the product market. We also find that the effect of increased competition on real wages is beneficial to workers, but less so when they have high bargaining power. Intuitively, real wages increase through a drop in the general price level, but workers with bargaining power lose out somewhat from a reduction in the rents that they had previously captured

The location of innovative activity in Europe

In this paper we use new data to describe how firms from 15 European countries organise their innovative activities. The data matches firm level accounting data with information on the patents that those firms and their subsidiaries have applied for at the European Patents Office. We describe the data in detail

Generalized Stacking Fault Energy Surfaces and Dislocation Properties of Silicon: A First-Principles Theoretical Study

The generalized stacking fault (GSF) energy surfaces have received considerable attention due to their close relation to the mechanical properties of solids. We present a detailed study of the GSF energy surfaces of silicon within the framework of density functional theory. We have calculated the GSF energy surfaces for the shuffle and glide set of the (111) plane, and that of the (100) plane of silicon, paying particular attention to the effects of the relaxation of atomic coordinates. Based on the calculated GSF energy surfaces and the Peierls-Nabarro model, we obtain estimates for the dislocation profiles, core energies, Peierls energies, and the corresponding stresses for various planar dislocations of silicon.Comment: 9 figures (not included; send requests to [email protected]

The New World challenge : Performance trends in wine production in major wine-exporting countries in the 2000s and their implications for the Australian wine industry

© 2014 UniCeSV, University of Florence. Anderson, K., Nelgen, S., 2011. Global Wine Markets, 1961 to 2009: A Statistical Compendium. University of Adelaide Press, Adelaide publication of an index of revealed comparative advantage suggests that the Australian wine industry had come under increased competition from other "New World" producers in the first decade of this century. We examine this influence by comparing the transformation of wine grapes into wine volume and value in the 11 largest wine-exporting countries during the years, 2000-2009. Our focus is on the challenge issued by other New World producers from the Southern Hemisphere to Australian producers, and the continuing challenge to Old World global supremacy by New World producers and its response. Four performance measures are used this study. Two key trends are evident. First, all countries migrated to higher price points, albeit with differing degrees of success: slightly declining productivity in transforming wine grapes into wine output was over whelmed by price/quality effects, leading to substantial gains in transforming wine grapes in to wine value. Second, New World producers plus Portugal and Spain were much more successful in achieving gains in their export value proposition than they were in extracting value in their domestic markets. Results show that Australian wine producers had lost some of their competitive advantage during the 2000s as their pre- existing strategy dominated by the export of high-volume wines by large companies at low to medium price points, and their reliance on a reputation for reliable good quality for the price point was beginning to fail in the face of competition from both New World and Old World producers. Acknowledgement of this outcome has led to a good deal of introspection, and recognition of the need to promote the wine regions of Australia, based on higher-quality wines,and to select and promote quality indicators

Book reviews

Teaching/Communication/Extension/Profession,

An Equilibrium Displacement Model of the Bali Beef Industry

Produksi daging sapi di Bali didominasi oleh peternakan rakyat, sama halnya dengankeadaan pertanian pada umumnya di Indonesia. Berbagai kebijakan telah dilaksanakan untukmengembangkan sapi Bali. Pengetahuan mengenai distribusi manfaat/keuntungan yangditerima dari pengembangan sapi sapi Bali akan membantu dalam proses pengambilankeputusan. Tulisan ini menganalisis manfaat dari pengembangan sapi Bali dalam sistemproduksi bertingkat dengan menggunakan model “equilibrium displacement' (EDM).Manfaat/keuntungan diukur dari Perubahan surplus ekonomi pada peternak, rumah potonghewan dan pengecer

WISE J163940.83-684738.6: A Y Dwarf identified by Methane Imaging

We have used methane imaging techniques to identify the near-infrared counterpart of the bright WISE source WISEJ163940.83-684738.6. The large proper motion of this source (around 3.0arcsec/yr) has moved it, since its original WISE identification, very close to a much brighter background star -- it currently lies within 1.5" of the J=14.90+-0.04 star 2MASS16394085-6847446. Observations in good seeing conditions using methane sensitive filters in the near-infrared J-band with the FourStar instrument on the Magellan 6.5m Baade telescope, however, have enabled us to detect a near-infrared counterpart. We have defined a photometric system for use with the FourStar J2 and J3 filters, and this photometry indicates strong methane absorption, which unequivocally identifies it as the source of the WISE flux. Using these imaging observations we were then able to steer this object down the slit of the FIRE spectrograph on a night of 0.6" seeing, and so obtain near-infrared spectroscopy confirming a Y0-Y0.5 spectral type. This is in line with the object's near-infrared-to-WISE J3--W2 colour. Preliminary astrometry using both WISE and FourStar data indicates a distance of 5.0+-0.5pc and a substantial tangential velocity of 73+-8km/s. WISEJ163940.83-684738.6 is the brightest confirmed Y dwarf in the WISE W2 passband and its distance measurement places it amongst the lowest luminosity sources detected to date.Comment: Accepted for publication in The Astrophysical Journal, 20 September 201