14,587 research outputs found
The Unemployment Benefit System: a Redistributive or an Insurance Institution?
We analyze the effects of the unemployment benefit system on the economy. In particular, we focus on both the tax structure and the unemployment benefits composition. We show that if the unemployment benefit system is only paid by firms, then employment and production are maximized. Moreover, the way the government contemplates the unemployment benefit system, either as a redistributive or as an insurance institution, is crucial for the dynamics and the equilibria of the economy.unemployment benefit system, payroll tax, wage tax.
Downsizing implementation and financial performance
In the present study we explore the relationship between downsizing decisions and corporate financial
performance after top management has decided to downsize. Our focus is on the financial consequences
arising from the amount of downsizing and the use of disengagement incentives. For this purpose, we use
a sample of downsizing announcements in the Spanish press from 1995 up to 2001. Although the results
show that the amount of downsizing is not significantly related to post-downsizing profitability, the
evidence provided supports the finding that the use of disengagement incentives (which motivate workers
to leave the organization) is negatively related to firm performance. Our analysis helps to understand the
role that strategic downsizing decisions play in explaining observed variance in the performance of
downsized firms. Thus, it advances scholarly organizational research by reinforcing the concept that
corporate performance is not only contingent on strategies, but also influenced by the means through
which these strategies are implemented
Coupled Landau-Zener-Stuckelberg Quantum Dot Interferometers
We investigate the interplay between long-range and direct photon-assisted
transport in a triple quantum dot chain where local ac voltages are applied to
the outer dots. We propose the phase difference between the two ac voltages as
an external parameter, which can be easily tuned to manipulate the current
characteristics. For gate voltages in phase opposition we find quantum
destructive interferences analogous to the interferences in closed-loop
undriven triple dots. As the voltages oscillate in phase, interferences between
multiple paths give rise to dark states. Those totally cancel the current, and
could be experimentally resolved.Comment: 6 pages, 4 figure
Estate taxation with warm-glow altruism
This article examines the properties of the optimal fiscal policy in an economy with warm-glow altruism (utility interdependence) and heterogeneous individuals. We propose a new efficiency concept, D-efficiency, that considers an implicit constraint in the act of giving: donors cannot bequeath to donees more than their existing resources. Considering this constraint, we show that the market equilibrium is not socially efficient. The efficient level of bequest transfers can be implemented by the market with estate and labor-income subsidies and a capital-income tax. In the absence of lump-sum taxation, the government faces a trade-off between minimizing distortions and eliminating external effects. The implied tax policy differs from Pigovian taxation since the government's ability to correct the external effects is limited. Finally, we show that the efficiency-equity trade-off does not affect the qualitative features of the optimal distortionary fiscal policy.Altruism ; Taxation
Does downsizing improve organizational performance? An analysis of Spanish manufacturing firms
The objective of this study is to examine the effect of downsizing on corporate performance, considering
a sample of manufacturing firms drawn from the Spanish Survey of Business Strategies during the 1993-
2005 period. No significant differences in post-downsizing performance arise between companies which
downsize and those that do not. Likewise, we find that substantial workforce reductions through
collective dismissals do not either lead to improved performance levels. Downsizing, therefore, may not
be a way for managers to increase performance, particularly in a context like the Spanish one, where the
labour market is characterized by a high protection of employees’ rights and substantial contract
termination costs
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