国有企业人才流失的契约性阻挠与社会福利

:(710069):,,,,,,:,,,,,,,,,,,19995500,5,7813,5521,0171,,,0189,,,,,,,,,,,,,,,,02::©1994-2007ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(unlimitedlia2bility),(GrossmanandHart,1983),2090(limitedliability),,(Innes,1990),(AghionandTirole,1994)(Pitchford,1998),(BargainingPower),,,,,,,,,,,:11,,,,,,21,,,,(,2000),,,,,,,31,,,,,,1220021©1994-2007ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(y0),,(x1,x2),,x1,,x2,,(rentcontract),,,,,,,,,(reservationutility),,(x,0),,,,,x,x,(Pitchford,1998),(feasibleandParetoefficientcontracts)(x,0),,x[xp,y],xp(0,y),(feasibility),,,x,[xp,y]x,[xp,y]x,,,,x=xp,,,,x=y,,x(xp,y),,,,,,,,,,,,,22::©1994-2007ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(),,(x,0)x[xp,y]xp,,,,,,,,,,,,,,,,x[xp,y]y,,,,,,,,,(Value2maximum),,:EUA=P(x)x-e(x),e(x),xP(x),x,,,,x,(x,0),(x,0),,x[xp,y],xp(0,y)x[xp,y],x,,,,,,,,,,,,,,,,(b)3220021©1994-2007ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(b),F,x,x=xp0FF1,,,(Crediblethreat),xxm,y,F[0,F1],xxm,(b)xmfF1FF3,,,x,F[0,F1],F=F2,,xx=xw,xxm,F=F2,xx=xm,,,xx=xw,xxw,,,(F1,F3),F,,xxpF(F1,F3),Fx(b)hgf,,92X92F0hgfFF3,,,,42::©1994-2007ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.=xp,,F[F3,+],Fx(b)hi(b),,x,(x,0),cx(1998),e(x),(d),x,,,,,P[x(e)]x(1998),,,(a),m(e),s(e),c(e),(a)(b)(c)(d),(b)(1)0FF1,,,xxmxyx=y,(d)e=ey,(c)(a),e=ey,c(ey)=s(ey),x=y,(a)OAHx=xm,(d)e=em,(c)(a),e=em,c(em)s(em)x=xm,,(a)OGBH,xmxy,xy,,xxm,,F[0,F1],,OGBH(2)F1FF3,F[0,F1],,F=F2(F1,F3),(b)x=xw,(d),e=ewe=ew,OFCH,F[0,F1],F=F2,FGBC(3)FF3,,,x=xpF(F1,F3),(d)x=xp,e=ep,(c)(a)e=ep,OEDHF[0,F1],FF3,EGBD,F(F1,F3),,,,,,,,,,,5220021©1994-2007ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.:11,,21,,31,,,,,1996:,,,2000:,11Malcomson,1984,WorkIncentive,HierarchyandInternalLabourMarkets,JournalofPoliticalEconomy92.Shapiro,C.andJ.Stiglitz,1984,EquibriumUnemploymentasADiscipline,AmericanEconomicReview74.ElmarWolfstetter.1999,TopicsinMicroeconomics,CambridgeUniversityPress.Grossman,S.JandHart,O.D,1983.AnanalysisofthePrincipal2agentProblem.Econometrica51(1),7-45.Hart,O.DandMoore,J,1990,PropertyRightsandtheNatureoftheFirm.JournalofPoliticalEconomy98(6),1119-1158.Innes,R.D,1990,LimitedLiabilityandIncentiveContractingwithEx2anteActionChoices.JournalofEconomicTheory52(1),45-67.Pitchford,R.1995.HowLiableShouldaLenderbe?TheCaseofJudgment2proofFirmsandEnvironmentalRisk.AmericanEconomicReview85(5),1171-1186.Pitchford,R.1998.MoralHazardandLimitedLiability:TheRealEffectsofContractBargaining.EconomicsLetters(61)251-259.Shaked,AandSutton,J,1984.InvoluntaryUnemploymentasaPerfectEquilibriuminaBargainingModel.Econometrica52(6),1351-1364.Aghion,PandTivole,J.,1994.TheManagementofInnovation.QuarterlyJournalofEconomics1091185-1209.(:)(:)62::©1994-2007ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(EconomicFacultyofSchoolofEconomicManagement,XibeiUniversity)AlongwiththedevelopmentandgrowthfromChinasnon2statesector,thefrequentbraindrainfromChinasstate2ownedenterpriseshascausedsomanyproblemsthatnotonlyseverelydecrcasetheefficiencyoftheseen2terprisesbutalsomaketheirprospectsgloomy.However,confrontedwiththeintenserivalryfromthelabormarket,moststate2ownedenterpriseshavemoreorlossadaptivelyreformedorreadjustedtheirrigidrecruitmentpolicy,obsoletepersonneladministrationandineffectivercwardsystems.Withtheframeworkofprincipal2agenttheory,thispaperexaminestherelationshipbetweenthetwotypesofcontracts:performance2relatedpaycont2ractandbraindrain2proofcontract,whicharewidelyusedtoattractandconstraintalentedemploycebystate2ownedenterprises.Then,basedonthisanalysis,itgivesamodeltoshowhowbraindrain2proofcontractscausedeadweightlossandconsequentlyreduccthevalueofstate2ownedenterprises.Finally,aimedattheweaknessoftheexistingintitutionsarrangedforlaborcontractnegotiationprocessofstate2ownedenterprises,thispaperproposesaregulatoryreformscheme.Keywords:Moralhazard;Limitedliability;Performance2relatedpaycontract;Braindrain2proofcontractJELclassification:L140,Z000MonetaryExpansion,EconomicGrowthandInstitutionalInnovationofCapitalMarketLuWei&others(SchoolofEconomics,BeijingUniversity)ByanempiricalanalysisofChineseeconomy,thispaperillustratesthatthereisalong2termequilibriumrela2tionshipbetweenthepriceindexofconsumptionandmoneyindexesinChineseeconomy.Intheshort2term,therearetwostepsforexpandingmoneytoaffecttheinflation:oneisaffectedbybasemoney;oneisaffectedbymoney.Basedonthesepositiveresults,wesuggestthatexpandingmonetarypolicescouldbeimplementedinChineseeconomy,ifinstitutionalinnovationofcapitalmarketcanbekepton.Keywords:Monetaryexpansion;Economicgrowth;CapitalmarketJELclassification:E440,E510,G100TheCharacteristicsofClubConvergenceofChinasEconomicGrow