我国教育投入与经济增长的非线性协整关系研究

我国教育投入与经济增长之间不仅存在双向Granger因果关系还存在非线性协整关系。当对均衡的偏离小于或等于门限值0.132时,教育投入与经济增长倾向于不向均衡状态调整,而当对均衡的偏移大于门限值0.132时,二者都倾向于向均衡状态调整,且教育投入的调整速度大于经济增长的调整速度。     

Nonlinear Capital Flow Tax: Capital Flow Management and Financial Crisis Prevention in China

How to promote capital account liberalization while preventing financial crises is a challenging task for policymakers. This study proposes a nonlinear (progressive) capital flow tax as a solution. We first demonstrate that the collateral requirement of international borrowing can give rise to multiple equilibria and self‐fulfilling financial crises. We then show that the crisis equilibrium characterized by large exchange rate depreciation, capital flight and welfare loss can be eliminated by imposing a nonlinear (progressive) tax scheme on capital outflows with the marginal tax rate increasing with the size of individual capital outflows. The implementation of such a tax scheme in China is also discussed.     

U.S.-Based Fast-Food Restaurants: Factors Influencing the International Expansion of Franchise Systems

Studies of international franchising are scant but increasing and can be divided into two streams of research: those focusing on environmental predictors of internationalization and those focusing on strategic, firm-level characteristics. Examining the latter category, this study empirically explores a set of firm-level attributes as predictors of decision making on whether firms seek international expansion. Using longitudinal data from Bond's Franchise Guide 2001–2008, we draw on a sample of U.S.-based fast-food franchise systems to test our hypotheses. Specifically, our database is composed of 1,058 observations of 158 chains, and we estimate a semi-parametric logistic model for international franchising. The model contributes to the literature by being the first to examine the nonlinearity of international franchising determinants using agency theory. The results show that (a) bonding, (b) the percentage of franchised units, (c) the number of states within which the system operates, and (d) the provision of area development agreements and sub-franchising significantly contribute to the international expansion of U.S.-based fast-food franchisors.     

A micro data approach to the identification of credit crunches

This article presents a micro data approach to the identification of credit crunches. Using a survey among German firms which regularly queries the firms' assessment of the current willingness of banks to extend credit, we estimate the probability of a restrictive loan supply policy by time taking into account the creditworthiness of borrowers. Creditworthiness is approximated by firm-specific factors, e.g. the firms' assessment of their current business situation and their business expectations. After controlling for the return on the banks' risk-free investment alternative, which is also likely to affect the supply of loans, we derive a credit crunch indicator, which measures that part of the shift in the loan supply that is neither explained by firm-specific factors nor by the opportunity costs of providing risky loans.     

调压井井座结构配筋计算与分析

文章采用结构力学力法(边值法)对调压井井座进行结构内力和配筋计算,分析了对内力和配筋计算结果影响较大的因素,为提高计算的准确性提供依据.     

Modeling diffusion of multi-generational LCD TVs while considering generation-specific price effects and consumer behaviors

An effective diffusion model characterized by the technology-induced function diversification and cost reductions can be developed to reflect whether competition exists among multiple generations of technology and to interpret how price reductions stimulate consumption. New technology can enhance the production skill levels of LCD TV manufacturing, enabling successive generation of LCD TV to become larger-sized than the previous generation, reducing the overall cost in manufacturing process and resulting in the price reduction of LCD TVs. However, previous diffusive predictions of LCD TVs using conventional multi-generational models ignore the price effect on market potentials and generational substitutions, so a novel generation-specific multi-generational model for the first time incorporating heterogeneous price elasticity and consumer behaviors across various LCD TV sizes is constructed in this work. This study applies nonlinear least square method to simulate the parameters of our modified model and further compares the accuracy between our modified model and the existing models. Analytical results indicate that price reduction strongly correlates with LCD TV sales, implying that price reductions increase the market potential of each LCD TV generation. Our modified model performs superior to the conventional multi-generational model in terms of predicting future shipment orbits of 26-, 42-, and 46-in. LCD TVs.     

基于大学生自主创新学习模式的材料力学课件研究

课堂上多媒体的应用十分重要。在材料力学教学过程中,适当的应用多媒体教学可以化抽象为具体,帮助同学记忆和学习。所以,多媒体课件变成了教学过程中不可或缺的一部分。     

Finding Bayesian Optimal Designs for Nonlinear Models: A Semidefinite Programming‐Based Approach

This paper uses semidefinite programming (SDP) to construct Bayesian optimal design for nonlinear regression models. The setup here extends the formulation of the optimal designs problem as an SDP problem from linear to nonlinear models. Gaussian quadrature formulas (GQF) are used to compute the expectation in the Bayesian design criterion, such as D‐, A‐ or E‐optimality. As an illustrative example, we demonstrate the approach using the power‐logistic model and compare results in the literature. Additionally, we investigate how the optimal design is impacted by different discretising schemes for the design space, different amounts of uncertainty in the parameter values, different choices of GQF and different prior distributions for the vector of model parameters, including normal priors with and without correlated components. Further applications to find Bayesian D‐optimal designs with two regressors for a logistic model and a two‐variable generalised linear model with a gamma distributed response are discussed, and some limitations of our approach are noted.     

An Overview of Normal Theory Structural Measurement Error Models

This paper gives an introduction and overview to the often under‐used measurement error model. The purpose is to provide a simple summary of problems that arise from measurement error and of the solutions that have been proposed. We start by describing how measurement error models occur in real‐world situations. Then we proceed with defining the measurement error model, initially introducing the multivariate form of the model, and then, starting with the simplest form of the model thoroughly discuss its features and solutions to the problems introduced due to measurement error. We discuss higher‐dimensional and more advanced forms of the model and give a brief numerical illustration.     

Stock prices and exchange rate dynamics in Nigeria: An asymmetric perspective

This paper investigates the asymmetric effect of exchange rate changes on stock prices in Nigeria. Using the nonlinear ARDL framework and monthly data from 2000:1 to 2016:12, the nominal exchange rate is separated into currency depreciation and appreciation through a partial sum decomposition process. Asymmetry is examined both in the long-run relationship and short-run error correction mechanism. The results show that the effects of exchange rate changes on stock prices is asymmetric both in the short- and long-run. That is, stock prices react in different magnitude to depreciation and appreciation. However, currency depreciation has a strong pass-through effect on stock prices than appreciation in the long-run. In the absence of asymmetry, exchange rate has only short-run effect on stock prices. This implies that the symmetry assumption underestimates the impact of exchange rate changes on stock prices in Nigeria.