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101.
Hiroshi Sato 《Frontiers of Economics in China》2010,5(1):135-149
This paper examines the economic and noneconomic determinants of growth disparity among Chinese villages between 1990 and
2002. By estimating a growth equation, first, we confirm a significant positive effect of the initial level of human capital,
as well as the initial condition of physical infrastructure. Second, social capital measured by the degree of stable social
relations at the village level is also a significant growth-promoting factor. The policy implications of our findings are
that public policy promoting social stability in rural areas should be strengthened, as well as increasing financial support
for rural education and infrastructure construction, especially in lower income regions. 相似文献
102.
We relate household savings to pension reform, to explain the high household savings rates in urban China from a new perspective. We use the exogenous – policy-induced – variation in pension wealth to estimate explicitly the impact of pension wealth on household savings, and obtain evidence of a significant offset effect of pension wealth on household savings. Although the size of the effect depends on the parameter values assumed, the finding that household savings are affected by pension reform is robust. Our estimates show that, under plausible scenarios, pension reform boosted household savings rates in 1999 by about 6–9 percentage points for cohorts aged 25–29 and by about 2–3 percentage points for cohorts aged 50–59. Our results also indicate that declining pension wealth reduces expenditure on education and health more than on other consumption items. 相似文献
103.
104.
Marx-Goodwin growth cycles in a two-sector economy 总被引:1,自引:1,他引:0
Yoshikazu Sato 《Journal of Economics》1985,45(1):21-34
105.
106.
107.
Ryuzo Sato 《Journal of Macroeconomics》1980,2(3):239-246
Since the theory of the adjustment time in a neoclassical growth model was first published close to two decades ago [Sato Sato, February 1963, Sato, June 1964], there have appeared a number of interesting articles dealing with different aspects of adjustment time and economic growth. The purpose of this note is to verify the original conclusions in the framework of variable elasticity of substitutions (VES) production functions. All of the other assumptions are preserved. The results indicate that the original assertion concerning the length of time needed for 90 percent of the adjustment applies to a non-Cobb-Douglas production function as well. “Vicinity” (90%) of the new equilibrium can be reached only after a sufficiently long period of time—approximately 100 years on the average. Furthermore, the pattern of adjustment for this model is very similar to that of the original model. 相似文献
108.
Insurers can exploit the heterogeneity within risk-adjustment classes to select the good risks because they have more information than the regulator on the expected expenditures of individual insurees. To counteract this cream skimming, mixed systems combining capitation and cost-based payments have been adopted that do not, however, generally use the past expenditures of insurees as a risk adjuster. In this article, two symmetric insurers compete for clients by differentiating the quality of service offered to them according to some private information about their risk. In our setting it is always welfare improving to use prior expenditures as a risk adjuster. 相似文献
109.
110.
Statistical Inference Using Stochastic Switching Models for the Discrimination of Unobserved Display Promotion from POS Data 总被引:1,自引:0,他引:1
The execution of price and/or display promotion has a significant effect on the sales of a brand sold in a supermarket. Information on price and/or sales is available from POS data. However, unless an investigator collects information on the execution of display promotions from every retail store, such information is unavailable. This paper presents a method of identifying whether display promotion has been executed without having to visit individual stores. We treat the execution/non-execution of a display promotion as a state variable. An unknown stationary probability matrix is assumed to describe the probability of a transition between states. Each state is characterized by a different stationary time series model with unknown parameters. The objective of the analysis is to identify the model and to assign a probability model for each state at each time instant. Finally, we provide a high precision estimator of a past execution/non-execution of a display promotion based on the proposed model. 相似文献