Child allowances,educational subsidies and occupational choice

This paper examines the effects on occupational choice and capital accumulation attributable to government policies of child allowances and educational subsidies. We show that multiple steady states may arise under these two policies, with club convergence occurring, and the initial condition being of relevance, if the tax rate of labor income for skilled labor is fairly high. Under a policy of child allowances, an increase in the tax rate is found to raise the quantity of children, but lower the quality of adults; however, under a policy of educational subsidies, with an increase in the tax rate, corresponding increases are found in both the quantity of children and the quality of adults. For developed countries, introducing child allowances may improve or hurt the welfare while introducing educational subsidies is welfare improving.     

Strategic Investment Subsidies under Asymmetric Oligopoly

This paper examines strategic investment subsidies in an international oligopoly. A general oligopoly model is constructed in which firms compete in two stages and governments commit to investment subsidies prior to firms' actions. The paper considers asymmetry among firms that arises from the nature of goods they produce rather than their cost structures. When firms produce asymmetrically differentiated goods, it is found that a change in the number of foreign competitors may alter the sign of the optimal unilateral investment subsidy. An example of policy reversal is provided in the case of strategic research and development subsidies for a quality‐differentiated industry.     

UNIVERSAL ACCESS,PARALLEL TRADE AND INCENTIVES TO INNOVATE

Governments often subsidize poorer groups in society to ensure their access to new drugs. We analyse the optimal income‐based price subsidies in a strategic environment. We show that universal access is less likely to arise when price arbitrage prevents international price discrimination. When this is not the case, under some income ranges, bilateral universal coverage can be supported by equilibrium subsidies together with bilateral partial provision. In such a case, international health policy coordination becomes relevant. We also show that asymmetric universal access to medicines across countries can arise, even when countries are ex ante symmetric, when international price discrimination is possible and governments cannot design subsidies proportional to either income or quality.     

信息披露视角下政府补贴对绿色创新的影响：从“无的放矢”到“对症下药”

制造业绿色发展背景下,财税补贴成为平滑企业绿色创新的重要融资方式。研发信息不对称条件下,企业信息披露是财税补贴摆脱“无的放矢”局面,成功驱动绿色创新的诱导性前因。以中国制造业上市公司为样本,探讨了政府补贴在驱动绿色创新过程中对信息披露表现出的决策依赖性,揭示了信息披露的诱导效应及其动态变化规律。研究显示：政府补贴对企业绿色创新绩效具有显著促进作用;信息披露对政府补贴具有诱导效应,信息披露质量越高的企业,获得的政府补贴越多,绿色创新绩效越突出;信息披露的诱导效应具有动态递增规律,成长期企业信息披露的诱导效应不显著。但从成熟期到蜕变期,信息披露对政府补贴的促进效应递增。基于信息披露视角补充了科技金融理论相关研究,为平滑企业绿色创新、促进中国制造业绿色发展提供了科学依据。     

Regulations and Technology Diffusion: Cross Subsidies and Digital Infrastructure Creation

Using contemporary historical data, the analysis has examined the impact of cross‐subsidization on technology diffusion within telecommunications networks for local exchange sector telecommunications firms in the United States for the years 1995 to 2000. Firms obtaining greater cross‐subsidies engage in greater technology diffusion via network modernization using digital technologies. Contingent on the institutional setting, cross subsidies have risen. These amounts have been put to relevant use in the diffusion of technology via deployment of digital infrastructure. The principles of subsidization are considered negatively as they have presumed anti‐competitive consequences. In technology diffusion they have played a positive role, as the evidence shows. From a radical subjectivist perspective, cross subsidies generate financial capital for firms, which permits them to deploy high quality technology investments such as broadband and these investments can be used for entrepreneurial experiments in providing several customer services.     

Newspapers and public grants: A matter of quality

The present paper deals with the issue of newspaper subsidies in a framework of endogenous quality provision. We compare monopoly and duopoly cases in a vertically differentiated model. For monopolies we show that a per‐copy subsidy reduces quality. Conversely, in duopolies in the vertically differentiated model, we show that a state subsidy might increase the quality of the low‐quality newspaper and decrease the quality of the high‐quality newspaper.     

The wealth effects of premium subsidies on moral hazard in insurance markets

Insurance premium subsidies are present in many insurance markets. The Swiss government, for example, paid out CHF 4.26 billion or 0.72% of the Swiss GDP for health insurance premium subsidies in 2011. Analyses of premium subsidies have often highlighted that the increased insurance demand due to premium subsidies increases the effects of moral hazard in the market. Other consequences of premium subsidies, however, have mostly been neglected by the literature. We show in our theoretical model that the wealth effects of premium subsidies decrease the sensitivity of the insured towards the monetary consequences of losses. This leads to less prevention efforts by the insured and thus increases moral hazard in the market. The effect is preserved if the subsidy is financed through proportional taxation. Using two alternative models, we show that providing state-dependent subsidies can either increase or reverse this effect, depending on which state subsidies are paid. We argue that whether demand effects or wealth effects of premium subsidies will dominate the insured׳s behavior depends on the market structure.     

政府补助方式对新能源汽车企业绩效影响研究

以2010－2015年新能源汽车行业上市公司面板数据为样本,区分政府补助方式,实证分析政府研发补助和非研发补助对企业绩效的影响。研究表明：政府研发补助对企业创新绩效有显著正向影响;政府非研发补助对企业经营绩效有显著正相关作用,且随着企业经营绩效提升,政府非研发补助对企业研发投入起到间接正向作用;企业研发投入在政府补助与企业创新绩效中存在部分中介效应。根据企业成长性对样本进行分组,进一步发现政府研发补助对高成长性企业创新绩效具有显著促进作用,而对低成长性企业无显著影响;政府非研发补助对企业经营绩效均有显著正向影响,对高成长性企业的影响更突出。     

新疆南部地区棉农生计变化影响因素分析——基于阿克苏地区阿瓦提县400户棉农的调查数据

为保证棉花这一国家战略性资源的数量和质量,确保新疆南部地区棉农生计的可持续性改善,本文试图对南疆棉农生计变化的影响因素进行深入分析。本研究运用阿克苏地区阿瓦提县实地调研和访谈数据,从户主的个人特征、家庭经营特征、家庭经营方式、自然灾害影响和政府补贴与资助五个方面对影响棉农家庭经营收入和生计变化的因素进行分析,进一步运用因子分析法等数学模型进行定量分析,得出南疆棉农生计变化影响因素的综合排名。研究结论表明：家庭经营规模,种子、农药及地膜投入,政府补贴资助量和套种数量四种因素对棉农生计变化影响较为显著。最后,建议通过政府补贴、政策制定、土地利用以及产业结构优化等方面的完善以促进南疆棉农生计变化的良性作用机制的形成。     

政府R D补贴、技术创新与中国工业转型升级——基于门槛效应的研究

利用2005—2016年省级面板数据实证分析了政府R&D补贴与技术创新、政府R&D补贴、技术创新与中国工业转型升级的关系。结果发现:政府R&D补贴对技术创新的影响存在着基于政府R&D补贴强度的双重门槛效应,其影响作用随着政府RD补贴强度的增加而减少;政府R&D补贴通过技术创新对工业转型升产生正向影响,政府R&D补贴对工业转型升级的间接影响存在着基于政府R&D补贴强度的双重门槛效应,其影响大小呈现先上升后下降的趋势。基于此,地方政府应当确定合适的政府补助强度,使政府R&D补贴强度位于合理区间内,以最大限度发挥政府R&D补贴的激励作用。     

Trade and technology transfer in a vertically differentiated industry

This paper provides a model of trade and technology transfer in a vertically differentiated industry. We provide three key results. First, freer trade allows an increase in the size of the import competing sector, a counterintuitive proposition. Second, under reasonable conditions a foreign monopolist producing a relatively higher quality product will transfer technology to the local producer for producing a relatively lower quality product. Third, government can design subsidies to induce technology transfer and improve welfare.      

The Effect of Child Care Subsidies: A Critique of the Rosen Model

In an influential article, Sherwin Rosen (1997) argues that Swedish subsidies of child care services lead to a substantial misallocation of resources that slows economic growth. We offer two major reasons why Rosen's approach is flawed. First and foremost, he ignores the positive externalities of increasing the quality of child care, despite their clear relevance to his general equilibrium model. Second, he overlooks distributional impacts, despite evidence that child care subsidies redistribute the costs of children between men and women, rich and poor, young and old. By exploring these and a number of smaller problems with Rosen's model we hope to encourage the development of more systematic efforts to explore the effects of state support for child rearing.     

从出口优先与内需扩大走向中性贸易政策——出口导向与内需扩展政策的价格、销量与福利效应分析

文章以中国出口导向型经济为原型,建立出口—消费补贴局部均衡模型,并以自由贸易为参照,分别探讨了出口补贴、消费补贴以及二者组合政策的价格、数量和国民福利效应,由此证明了从中性贸易政策、消费补贴政策、出口补贴与消费补贴组合政策到出口补贴政策的最优政策排序。文章提出如下的政策转型建议:(1)以创造就业和加速增长为目标,将单一出口补贴政策转向出口补贴和消费补贴组合政策;(2)以降低贸易摩擦、扩大内需为目标,将内外双重补贴政策转向单一消费补贴政策;(3)以建立和谐市场经济为目标,将非中性贸易政策转向以自由贸易为基础的中性贸易政策。     

Risk perceptions,voluntary contributions and environmental policy

This article studies the effect of uncertainty on agents’ voluntary contributions to environmental quality. There is uncertainty in future environmental quality and we consider a heterogeneity in individuals’ risk perception. In this context, the social optimum can be decentralized by means of tax-financed government subsidies to private provision. We distinguish the case of a government that represents perfectly agents’ preferences from the case of a government with its own risk preferences. In the two cases, we show that neutrality still holds.     

Subsidizing public inputs

If production–cost savings associated with successful research and development are freely disseminated to other firms as soon as they are realized, too few resources may be allocated to this activity. Subsidies to this activity, a public input, can lead to optimal input use. The effectiveness of four alternative subsidy instruments in stimulating firms’ R&D spending are examined. Two are incremental subsidies and two are level subsidies. One of the incremental subsidies and one of the level subsidies crudely capture characteristics of incentive mechanisms used in many countries. A laboratory implementation of these instruments confirms that incremental subsidies are inferior to level subsidies.     

The more subsidies,the longer survival? Evidence from Chinese manufacturing firms

How do government subsidies affect firm survival? By using Chinese firm‐level data for 1998 to 2007, we show that, on average, there is a positive and significant impact of government subsidies on firm survival. We also investigate the heterogeneous effects of government subsidies with different intensities on firm survival, and find that moderate‐intensity government subsidies exert a positive impact on firm survival, while high‐intensity government subsidies increase the exit probabilities, the underlying mechanisms via subsidy‐seeking investment and innovation incentive weakening are supported by empirical evidence. Furthermore, we explore the role of governance institutions in the subsidy–survival relationship, and find that the positive impact of government subsidies on firm survival is more pronounced in regions with better governance institutions.     

Optimal Taxation of Risky Human Capital*

In a two‐period life‐cycle model with ex ante homogeneous households, earnings risk, and a general earnings function, we derive the optimal linear labor tax rate and optimal linear education subsidies. The optimal income tax trades off social insurance against incentives to work. Education subsidies are not used for social insurance, but they are only targeted at offsetting the distortions of the labor tax and internalizing a fiscal externality. Both optimal education subsidies and tax rates increase if labor and education are more complementary, because education subsidies indirectly lower labor tax distortions by stimulating labor supply. Optimal education subsidies (taxes) also correct non‐tax distortions arising from missing insurance markets. Education subsidies internalize a positive (negative) fiscal externality if there is underinvestment (overinvestment) in education because of risk. Education policy unambiguously allows for more social insurance if education is a risky activity. However, if education hedges against labor‐market risk, optimal tax rates could be lower than in the case without education subsidies.     

智能制造业创新产出：政府补助与市场竞争是否协同助力

基于2015—2019年中国智能制造行业上市公司数据，探讨政府补助与市场竞争对创新产出的协同作用，研究不同产业类别、不同市场竞争环境以及不同区域下政府补助的异质性效果。结果表明，政府补助和市场竞争对企业创新产出均有显著激励作用，市场竞争正向调节政府补助与企业创新产出的关系；政府补助对智能制造四大行业的创新产出均具有正向激励效应，其中对高端装备和新材料产业的促进作用更显著；在高市场竞争环境下，政府补助对高质量创新产出的促进作用更加显著；分区域看，东、中部地区政府补助对企业创新产出的促进作用更显著，且东部地区政府补助与市场竞争的协同促进作用更强，中部地区次之，西部地区较弱。结论对政府制定智能制造业补助政策、完善创新市场环境、促进政府与市场发挥协同创新作用等具有参考价值。     

Quality-Differentiated Inputs and Trade In Vertically Related Markets*

This paper presents an international trade model of vertically related markets with quality differentiation at the stage of the intermediate good. Domestic input producers are at a disadvantage relative to higher quality foreign suppliers in providing inputs to a domestic final-good producer. the input producer may be driven out of the market unless policies enacted by the domestic government can encourage domestic final-good firms to use the domestic input. Results show that multiple tariffs and direct production subsidies are the most beneficial policy options.     

政府科技资助对谁更有效?--基于企业规模与所有制三维交互的研究

何种企业能更有效地利用政府科技资助提升创新水平？文章结合资源基础理论、委托代理理论和信号传递理论,运用上海张江高科技园区2382家企业2006—2009年共计6718条非平衡面板数据,研究企业规模和所有制性质在政府科技资助影响企业创新过程中的三维调节机制。研究结果表明：(1)在应用倾向值匹配法纠正政府资助选择偏差的基础上,政府资助对企业创新具有显著的促进作用;(2)企业规模能够影响政府资助对企业创新的“杠杆效应”的发挥程度,规模越大,资助对企业创新水平的正向激励越强;(3)政府资助对不同所有制性质企业的作用存在差异,相比国有企业,非国有性质的企业能更好地利用政府资助提升创新水平;(4)企业规模的调节作用还取决于企业的所有制性质,相比之下,政府资助对非国有企业的创新激励作用会随着企业规模的增加而不断增强。