Public-private wage comparison: A case study of Taiwan

This paper rigorously examines the public-private wage differential. Two novelties: it deals with a newly industrialized economy-Taiwan, and an attempt is made to isolate out any alleged “favorable” industry/occupation job distribution that may exist for the public sector.Significant wage advantages were found to exists for both genders in the public sector. Both the absolute magnitude of this advantage premium and the relative size between genders were comparable to the estimates for the U.S and for Canada. The often alleged superior industry/occupation distribution of public sector jobs were verified and found to account for a significant portion of the observed sectoral wage differential.     

莫让生活危机毁了事业

肯·斯科特正在华盛顿跟客户洽谈业务,妻子卡伦从休斯敦家中打来电话。原来,例行的X光检查表明,她的胸部出现了可疑的肿块。39岁的斯科特是一家公关事务所的负责人,他此时还不知道,从这个电话开始,他即将陷入长达八个月的家庭危机,而这一切都是由于妻子患上了霍金氏症造成的。"我接到电话后,立刻乘当天头班飞机赶回家。"斯科特回忆说,"遇上危机时,亲人自然是最重要的。然而,一旦发现这不是一周或一个月内能解决的问题,我就意识到自己还     

OPTION PRICING AND THE ARBITRAGE PRICING THEORY

This paper applies the arbitrage pricing theory to option pricing. Under certain distribution assumptions or the assumption that there is only one common factor, the underlying asset of an option is the sole risky factor that explains its expected return. Based upon this relationship, a new and simple option-pricing formula is derived, and some important existing option-pricing formulae are reproduced. Empirical results show that the new formula performs as well as the Black-Scholes formula.