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Building upon a competence-based employability model and a social exchange and proactive perspective, the purpose of this paper is to investigate the relationship between learning value of the job and employability among academic staff employees. Moreover, this study also examined whether this relationship was moderated by leader–member exchange (LMX) and a proactive coping style.

An online self-report questionnaire with thoroughly validated measures was distributed among academic staff employees (n=139).

The results partially supported the specific study assumptions. Concrete, learning value of the job was positively related to anticipation and optimization, corporate sense and balance. LMX moderated the relationship between learning value of the job, on the one hand, and all employability dimensions, on the other hand. However, proactive coping only moderated the relationship with anticipation and optimization, flexibility and balance. In all cases, under the condition of high moderator variable levels, the relationship became stronger.

This study extends past employability research by applying an interactionist perspective (person: proactive coping style, context: LMX and learning value of the job) approach for explaining employability enhancement. The results of this scholarly work provide useful insights for stimulating future career development and growth, which is of upmost importance in nowadays’ labor markets.

China's economic transition is essentially the process of China's institutional changes. During the changes, the appearance of institutional innovation is not regular; instead, it is intermittent and random. The purpose of this paper is to show that the fitful appearance of institutional innovation is the root of China's economic growth and fluctuations.

This paper constructs a real business cycle (RBC) model introducing the institutional factor expressed in the quantitative form under the dynamic stochastic general equilibrium (DSGE) framework by measuring China's institutional changes quantitatively.

By comparing the characteristics of the actual economic data with those of the simulated economic data, we find that this RBC model can explain 94.44%, 66.07%, 23.46%, 21.03% and 15.45% of the cyclical fluctuations in output, investment, labor, consumption and capital, respectively.

The impulse response analysis finds that the institutional shocks have a relatively long duration, lasting about 30 years, and decline slowly over time, while technological shocks decline relatively fast, lasting approximately ten years.