Health insurance and savings over the life cycle—a semiparametric smooth coefficient estimation

Individuals save for future uncertain health care expenses. This is less efficient than pooling health risk through insurance. The provision of comprehensive health insurance may raise welfare by providing the missing market to smooth out consumption through the life cycle. We employ a semiparametric smooth coefficient model to examine the effects of the introduction of the National Health Insurance in Taiwan in 1995 on savings and consumption over the life cycle. The idea is to estimate the coefficients of health insurance which vary with age. Our results suggest that younger households are more sensitive to the risk reductions, and that they demonstrate a greater response in the reduction of their precautionary saving. Copyright © 2004 John Wiley & Sons, Ltd.     

Bid-Ask Spreads,Information Asymmetry,and Abnormal Investor Sentiment: Evidence from Closed-End Funds

Using a sample of closed-end equity funds listed on the NYSE from 1994 to 1999, we investigate differences in spreads and adverse selection costs between the closed-end funds and a matched sample of common stocks. We find that spreads and adverse selection costs for the closed-end funds are significantly lower than those of control stocks. The results are consistent for the subperiods both before and after the minimum tick size change on NYSE on June 24, 1997. The differences of spreads and adverse selection costs cannot be attributed to the differences in the characteristics of the closed-end funds and the matched sample of common stocks. Lastly, we find that abnormal investor sentiment and adverse selection costs of closed-end funds are positively correlated over time.     

"中纺圆桌论坛"构筑行业大脑

中纺圆桌论坛是中国纺织工业协会和国家有关政府部门倾力支持、精心筹划的全国纺织业界高端综合性产经论坛,首届年会将在12月21日举行,并以"2006"中国纺织经济:分析与展望"为主题,通过创造互动式及开放性的交流平台,关注与思考影响2006年纺织经济发展的核心问题,为政府决策部门、企业规划2006年工作提供政策参考和战略建议;对2006年我国宏观经济形势与政策取向做出分析与展望,对2006年我国纺织经济形势作前瞻性的分析与预测;对行业经济热点如贸易摩擦、人民币汇率、行业投资、原料供给、消费市场、企业"走出去"等问题展开全面探讨和对话;并将就相关政策和企业战略措施选择做出建议.     

如何保持公司竞争优势的思考与对策

目前大型零售业的竞争日趋激烈,竞争手段层出不穷,文章通过对大型零售百货业问题进行分析,指出了公司要保持竞争优势,必须从制定具体的发展战略和策略、提高核心竞争能力、提升造市集客能力、抓管理以提升便利能力等几个方面入手。     

论我国西部地区基层人民法院独立审判与司法公正

"公正与效率"是21世纪人民法院的工作主题,独立审判是我国宪法规定的一项基本原则,是实现司法公正的根本前提,而独立审判的实现需有一系列的司法制度来保证。根据我国西部地区社会政治经济现实,目前应从以下三个大的方面加大司法改革力度:法院独立;独立审判;法官独立。司法改革的价值取向是司法公正,司法公正的前提是独立审判。法院独立、审判独立、法官独立是实现独立审判的必由之路,是迈向法治国家的第一步。     

基于多元智能理论的英语阅读教学

一、多元智能理论概述 二十多年前,美国哈佛大学Howard Gardner教授提出了多元智能理论.他认为,智力是在文化环境中解决问题并创造一定阶值的能力,是一整套使人们能够在生活中解决各种问题的能力,是人们在发现难题或寻求解决难题的方法时不断积累新知识的能力;智力不是传统意义上的"天生固有的,很容易通过智力试卷测定的能力".     

广东乡镇企业群落的发展现状及分布特点

本文从演化阶段、地域分布、行业分布等角度,着重研究了广东4个经济区域(珠江三角洲、粤东、粤西及粤北山区)乡镇企业群落的发展现状况以及分布特点。研究发现,广东目前产业集群态势良好,但多数乡镇企业群落仍处在初级阶段,属于专业分工横向一体化为主的生产加工性组织;在地域及行业分布上,总体布局差异明显,二、三产业类型的乡镇企业群落主要集中在珠江三角洲地带。     

宠物产业竞争的博弈论分析

宠物产业概论 宠物在我国有着悠久的历史，在《史记》中就有秦代宫廷养犬的记载。在过去，饲养宠物是达官显贵的专利，普通老百姓只能养一些土狗、土猫，其作用主要是看家护院和捕捉老鼠。把狗猫当宠物来饲养，对老百姓来讲是可望不可及的事。随着人民生活水平的日益提高，宠物也越来越多的进入寻常百姓家。     

Inconsistencies in US consumers' attitudes toward and use of electronic banking: An empirical investigation

The purpose of the study was to empirically investigate the factors that influence US consumers' attitudes toward and use of electronic banking (e-banking) and to explore the reasons that a magnitude discrepancy exists between the impact of the specific factors on consumers' attitudes and the impact on their actual behaviours. Using the data from the 2003 Survey of Consumers commissioned by the Survey Research Center at the University of Michigan, the current study found that consumers' perceptions of the characteristics of e-banking, namely the perceived advantages and problems, had different impacts on consumers' attitudes toward and their use of such service. While the perceived problems were more important in forming consumers' attitudes toward e-banking, the perceived advantages had the greatest impact on consumers' use of such service. The conclusions and discussions section also includes theoretical and practical implications drawn from the results.