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The purpose of this paper is to examine the impacts of farmland renting-in on planted grain acreage.

A survey data of five counties were analyzed with the two-stage ordinary least squares model.

Households renting-in land trended to plant more maize, and the more land was rented by a household the more maize was planted, while wheat acreage showed non-response to farmland renting-in.

Overall, the analysis suggests that policy makers should be prepared for different changing trends of grain crop acreage across the nation as farmland transfer continues. Future research should pay attention to the effect of farmland transfer on agricultural productivity and rural household income growth.

As the Chinese Government is promoting larger-scale and more mechanized farms as a way of protecting grain security, it is important to understand whether farmland renting-in will reduce planted grain acreage. This study provides empirical evidence showing the answer to that question may differ across different regions and depend on the particular grain crop in question.

Since airlines that employ their resources effectively will achieve operating profitability, air route resource allocation is significant for airlines. This study aims to investigate an appropriate model to reallocate resources into each air route of an airline company.

This study proposes a network centralized data envelopment analysis (DEA) models with slack-based measure (SBM). The proposed model not only takes into account the two interconnected stages but also considers the nonradial approach with transfer-in and transfer-out slacks for resource reallocating. Furthermore, the authors modify the objective function to an input-oriented function with SBM, and divide the model into passenger and freight parts, which makes the model more realistic for the characteristic of air routes.

The empirical analysis using an airline company's internal data provides airline operators with information on how they increase or decrease input resources, which can serve as a practical guideline of resource reallocation. Specifically, the results indicate that the airline company should increase their input resources into long-haul air routes such as KOR-OCN while decreasing their input resources into short-haul air routes such as Korean-Oceania (KOR-OCN), Korean-Chinese (KOR-CHN), Korean-Southeast Asian (KOR-SEA), Korean-Japanese (KOR-JPN).

Although some papers evaluate air route efficiencies based on the DEA approach, a few existing papers have addressed resource allocation for air routes. This paper is the first to study the resource reallocation for air routes based on the DEA approach, contributing to the literature in expanding the scope of research on resource reallocation.

This paper aims to review the experience so far of the Spanish labour market during the Covid-19 crisis in the light of the existing institutions, its performance during past recessions and the policy measures adopted during the pandemic. Emphasis is placed on the role of worldwide trends in labour markets because of automation and artificial intelligence, in shaping a potential recovery of this (hopefully) transitory shock through a big reallocation process of employment and economic activity. It also highlights some innovations to employment and social policies needed to smooth the reallocation process and lessen the rise in inequality associated to technological trends.

Theory and empirics.

The Spanish labour market will subject to a great reallocation shock as a result of Covid-19 and secular technological changes. Reforms need to be undertaken.

An overview and some new results.

The purpose of this paper is to measure TFP growth and job reallocation in the Vietnamese manufacturing industry after the Doimoi period.

The study uses firm-level panel data from Vietnam’s annual enterprise survey data for 2000–2016 period in the Vietnamese manufacturing industry using Olley–Pakes static and dynamic productivity decomposition methods.

The aggregate productivity estimated from the WRDG method increased 2.323 percent, of which over 40 percent is due to the reallocation toward more productive firms. Olley–Pakes dynamic decomposition according to ownership, scale and industry shows that the contribution of private and state-owned firms and the contribution of small and medium firms and large firms to the TFP growth are 133, −33 percent, 58.56 and 41.44 percent, respectively. The within-firm productivity and net entry components are the main reasons for TFP growth rather than reallocation. The results show that the composition of the aggregate TFPs, estimated from WRDG, OP, LP and ACF, is correlated very high (over 80 percent) except for net entry components.

The major limitation of this study is that the authors compute an aggregate productivity index using actual employment-based shares (still misallocation in labor), rather than optimal employment-based shares (no misallocation in labor).

Job reallocation between industries is attracting attention in developing countries, especially transition economies. However, knowledge about job reallocation among industries is limited. This paper assesses the level of job reallocation among private and state-owned firms, small and medium firms and large firms in Vietnam.

This article aims to establish a dynamic Energy Performance Contract (EPC) risk allocation model for commercial buildings based on the theory of Incomplete Contract. The purpose is to fill the policy vacuum and allow stakeholders to manage risks in energy conservation management by EPCs to better adapt to climate change in the building sector.

The article chooses a qualitative research approach to depict the whole risk allocation picture of EPC projects and establish a dynamic EPC risk allocation model for commercial buildings in China. It starts with a comprehensive literature review on risks of EPCs. By modifying the theory of Incomplete Contract and adopting the so-called bow-tie model, a theoretical EPC risk allocation model is developed and verified by interview results. By discussing its application in the commercial building sector in China, an operational EPC three-stage risk allocation model is developed.

This study points out the contract incompleteness of the risk allocation for EPC projects and offered an operational method to guide practice. The reasonable risk allocation between building owners and Energy Service Companies can realize their bilateral targets on commercial building energy-saving benefits, which makes EPC more attractive for energy conservation.

Existing research focused mainly on static risk allocation. Less research was directed to the phased and dynamic risk allocation. This study developed a theoretical three-stage EPC risk allocation model, which provided the theoretical support for dynamic EPC risk allocation of EPC projects. By addressing the contract incompleteness of the risk allocation, an operational method is developed. This is a new approach to allocate risks for EPC projects in a dynamic and staged way.

This paper aims to develop a credit-risk model in which firms face rollover risk, and the markets for defaulted assets are segmented due to entry costs. The paper shows that reducing the entry costs in this economy may decrease the total surplus of the economy. This outcome can arise because when market barriers are lifted, the gap between the liquidation prices across the markets will shrink, but then the market that would experience a price drop may face more bankruptcies because the rollover risk will increase in that market. The paper describes under which condition such an intervention policy improves or hurts the total surplus.

This study aims to investigate the influence of budgeting design characteristics on perceived budgeting usefulness, based on the enabling-coercive framework.

This paper develops a survey in one large publicly-listed Brazilian company that operates in the electric utility industry. The sample comprises 75 middle managers from different areas of this organization. This study uses structural equation modeling as the data analysis method.

The results indicate that internal and global transparencies determine middle managers’ perceptions of budgeting usefulness, while no relationship was found for repair capacity and flexibility characteristics. This paper shows that managers, when provided with global and internal transparencies and independently of their level discretion regarding target revisions or the reallocation of resources, perceive budgeting systems as being useful for decision-facilitating and decision-influencing roles.

The findings might be relevant for budgeting professionals to review or design the budgeting system in terms of dribbling potential flaws and increasing its use in the organization.

The study explores the multidimensionality of the enabling-coercive budgeting design construct. This study provides a theoretical contribution to the literature by showing that budget alignment, integration, learning and information sharing are relevant such that an organization could improve the assertiveness using budgeting systems. Besides, this paper provides an opposing view about the supposed relation between flexible budgeting design and budgeting usefulness. Frequently, some management directions are offered by the literature and no guarantee is provided in terms of the connection between the adoption and the usefulness of those mechanisms. Therefore, the findings shed more light on the practical developments in budgeting.

At the beginning of the 21st century, a new class of information workers, the “information have-less” has risen. This class of workers alleviates the influence of information and communication technologies (ICTs) revolution on poverty and unemployment. The purpose of this study is to investigate the presence of this class of workers in Egypt and assess the size and potential growth of this category of workers.

The study clarifies the conceptual framework of the new division of labor, in the information age. The Central Agency for Public Mobilization and Statistics, American Chamber of Commerce in Egypt, Ministry of Communications and Information Technology and Information and Decision Support Center websites provided secondary data for this study. These data are used to assess the size of “the information have less” in Egypt.

The division of work and class, in the 21st century, depends on the level of skills possessed to work with ICTs. So, class and labor nowadays could be divided into self-programmable labor (Innovators). Information have-less labor class, adding value to the economy by learning skills and presenting repetitive work. Generic labor class, who cannot work with ICTs, and work in jobs, that do not need computers or other ICTs. The study has shown that the “information have-less” labor class is present in Egypt since the beginning of the 21st century, in all its categories; entrepreneurism, the service sector and the manufacturing sector. There are approximately 50% of this labor class in the service sector and only 13% of the information have-less works in manufacturing sector despite the great opportunities that Egypt has to expand manufacturing to absorb more employment. The inclusion of information technology (IT), in all domains, has not decreased employment in Western countries but has reallocated information have-less employment toward the service sector, and there would probably be the same effect in Egypt.

The study highlights the need for Egyptian policymakers to encourage the manufacturing and service sectors to provide huge working opportunities. The Egyptian government has to change the educational policies, at all stages, to include digital learning skills so IT can be incorporated in a wide range of economic activities. Further research includes: conducting a survey to measure the contribution of the entrepreneurial part of the information have-less employment in Egypt. In addition, a model may be developed, by the researcher to examine the reallocation of employees in Egypt.

Studying employment, in Egypt, using the conceptual framework of the information age is rarely being done.

This paper aims to analyse the asymmetric impacts of world oil price on macroeconomic variables in Vietnam, including domestic oil price, inflation and output growth.

The mixed data sampling (MIDAS) approach is employed to examine the impact of world oil price changes on macroeconomic variables as the former is high-frequency data (daily), and the latter is low-frequency data, usually monthly or quarterly.

Changes in world oil price cause asymmetric impacts on domestic oil price and inflation, but no significant effects on output growth. In terms of magnitude, a positive change in world oil price causes a stronger effect than a negative change in world oil price. In terms of timing, a positive change in world oil price causes a slow pass-through impact on domestic oil price and inflation. Meanwhile, domestic oil price and inflation decrease quickly following a negative change in world oil price.

This study investigates the asymmetric impact of oil price on the Vietnam economy in terms of both magnitude and timing, which is not explored by previous studies. In addition, it exploits daily information of oil price changes to analyse macroeconomic variables in lower frequency by employing MIDAS approach.

This paper aims to study the type of short-time work (STW) schemes implemented in Spain to preserve jobs and workers’ incomes during the COVID-19 crisis and the corresponding labour market outcomes.

A dynamic macroeconomic model of job creation and destruction of the search and matching type in a dual labour market.

The model shows that the availability of STW schemes does not necessarily prevent a large increase in unemployment and job destruction. The quantitative effects depend on the degree of subsidization of payroll taxes and on the design of the policy. A scenario with a moderate degree of subsidization and where the subsidy is independent of the reduction in hours worked is the least harmful for both welfare and fiscal deficit. The cost of such a strategy is a higher unemployment rate. Concerning heterogeneous effects, the unemployed are the ones who experience the strongest distributional changes.

The effectiveness of STW schemes in dual labour markets using a search and matching model in the context of the COVID-19 crisis has not been analysed elsewhere. The literature has emphasized the importance of dynamics, labour market institutions and workers’ heterogeneity to understand workforce adjustment decisions in the face of temporary shocks to de- mand especially when firms’ human capital is relevant. These elements are present in the model. In addition, this paper computes welfare and distributional effects and the cost of these policies.