Public trust and corruption perception: disaster relief

Public trust in government and nongovernment organizations is essential to the public’s willingness to donate and to support those organizations. We measure public trust in disaster aid using people’s perception of these organizations’ effectiveness in delivering aid relief to the victims of two recent major earthquakes in China. Based on the survey data collected in 2013 from about 2100 residents in Hong Kong, we document the vulnerability of these residents’ trust perceptions in aid delivery. We find that the sharp decline in trust perception is highly negatively correlated with their perception of corruption of local governments in China.     

The Role of Central Government in Tax Competition Between Heterogenous Regions

This paper analyzes the role of central government in a Nash tax competition between two heterogenous regions, which differ in their endowments of two production factors. Regional governments use a source-based unit tax on mobile capital to finance their public service expenditures. The central government employs excise subsidies and lump-sum taxes to induce the two regions to efficient resource allocations. We answer to the question that whether the central government can induce an efficient equilibrium, and investigate the effects of endowments difference on the optimum subsidy rates. We find that there exists a unique tax rate under which the efficiency is achieved. We identify the set of endowment allocations for which the subsidy rate to one region is higher (or lower) than the subsidy rate to the rival. The large poor region receives a higher subsidy than the small rich region, but the subsidy to the small poor region may be higher or lower than that to the large rich region. [H2]     

Product Patent Reform and its Impact on Korea's Pharmaceutical Industry

Our analysis focuses on the effect of U.S. government pressure on Korea to adopt product patents for chemical and pharmaceutical products. American pressure began in November 1985 and ended with the Korean Legislature's passage of a new patent law in December 1986. We conduct an event study of the effect of the new patent law on the value of Korean pharmaceutical firms listed on the Korea Stock Exchange. Regression analysis shows that the new law induced excess returns of-74 percent over the 14-month analysis period. The results suggest that adoption of stronger patent laws reduced Korea's wealth. [G14, O34]     

美国对华出口管制与美对华贸易逆差:实质与对策

本文运用实证分析方法,对美国对华技术出口管制的历史和现状进行较为系统、深入的分析研究．指出美国对华技术出口管制是造成美对华贸易逆差的主要原因;并就促进美国对华技术出口、实现中美贸易平衡问题,提出了对策和建议。     

社会主义财技术及其“大金融”观

本文提出了“社会主义财技术”的新思想,倡言社会主义光明的未来,主张树立“大金融”观,实施“大融合”方略,以推动中国经济突破极限,走向光明的未来     

Morphogenetic economics: Change- amplification by causal loops

The monetarist, Keynesian, and supply side theories are based on the concept of equilibria. But in reality the relations among variables may build causal loops that are change-amplifying. The morphogenetic economic the ory includes in its analysis both change-amplifying and change-counteracting causal loops. In the existing economic theories, the major policy tools are money supply and government expenditure. But in the morphogenetic economics, some other elements can be seen as effective policy tools, depending on the node factor, the velocity, and the strength of the causal loops they belong to. The present overdependence on money supply or government expenditure as main tools of economic policy is inadequate. Furthermore, the morphogenetic economics differs from the existing economic theories in its calculation of the level of equilibria and of crowdingout effects.     

Gold,liquidity and secured loans in a multistage economy

A multistage economy with durables with finite and with unbounded lives is considered. The importance of the existence of both asset and rental markets is considered. It is shown that without rental markets efficiency may not be achieved and a stationary state that might exist with rental markets need not exist. The meaning of the existence of a 100% backed loan is considered. The roles of gold and land as stores of value and money are considered.Research supported in part by ONR Grant N00014-86-K-0220 and by NSF Grant No. SES-8812051.     

On the theory of cost sharing

This paper investigates efficiency and equitability issues given a cost sharing method in an economy with a public commodity. We study the concept of a -cost share equilibrium and examine the set of all equilibrium allocations. Finally, we devise a mechanism to implement -cost share equilibria as strong equilibria of an associated non-cooperative game.This paper was written while Shlomo Weber was visiting the University of Bonn. Financial support from theSonderforschungsbereich 303 is gratefully acknowledged. We also would like to thank Dieter Bös for valuable comments.     

Market penetration by entry-exit dynamics

A generic characterization of the dynamics of market penetration by technological artifacts is here formulated on the basis of entry rate and exit rate considerations. It is shown that low-order reductions lead to the biologically based logistic dynamic, which—by empirical fit—has been found to be in very good agreement with numerous specific cases. In addition to the derivational justification of the logistic for artifact market penetration, we find that but a small number of parameters are involved in these autonomous characterizations suggesting therefore that market penetration may well be reduced to a similarly small number of dominant operative processes. Some nonautonomous extensions are also discussed.