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Does Property Right Transformation Improve Township and Village Enterprises Performance? 总被引:1,自引:0,他引:1
Yoichi Izumida 《中国与世界经济(英文版)》2006,14(1):85-101
I. Introduction The township and village-owned enterprises (TVE) in rural China have ever been both an engine of the Chinese economy and an important contributor to the success of Chinese economic reform. They were established by the township and village authorities in the 1980s to achieve three main purposes: to provide government revenue, to increase ruralresidents’ income, and to create employment opportunities for the tremendous rural surplus labor force. The extent of the achievements… 相似文献
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We analyze dynamic monopoly pricing under consumption externalities, focusing on pricing under negative externalities. We also attempt to generalize models in the previous literature, which encompass both negative and positive externalities, by incorporating a consumer’s discount factor for past sales as a parameter. Analyzing our model reveals oscillation as the optimal price path in the presence of negative externalities. 相似文献
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Yoichi Gokan 《Journal of Economic Dynamics and Control》2011,35(8):1273-1287
This paper investigates how monetary policy influences the emergence of local indeterminacy, local bifurcations, and multiple steady states, depending upon the degree of the commitment parameter that defines financial market imperfection, using Diamond's overlapping generations model with credit market frictions. The analytical results will show that poverty traps happen as an inevitable outcome under a wider range of money growth rates, because financial markets are less developed. Put differently, we derive analytically the positive link between financial development and per capita income. 相似文献
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Yoichi Kuwana 《Mathematical Finance》1995,5(4):297-309
We investigate an optimal consumption/investment decision problem with partially observable drift. Logarithmic utilities are shown to be necessary and sufficient for the certainty equivalence principle to hold. For the sufficiency part of the proof, we allow a general stochastic structure about the unobservable drift. On the other hand, a simple Bayesian structure is assumed for the necessity part in order to utilize the Hamilton-Jacobi-Bellman equations. 相似文献
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Yoichi Nishiyama 《Statistica Neerlandica》2010,64(4):505-507
This study extends the rate of convergence theorem of M‐estimators presented by van der Vaart and Wellner (weak convergence and empirical processes: with applications to statistics, Springer‐Verlag, Newyork, 1996) who gave a result of the form r to a result of the form supnE | r , for any p≥1. This result is useful for deriving the moment convergence of the rescaled residual. An application to maximum likelihood estimators is discussed. 相似文献
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Yoichi Nishihara 《Journal of Industry, Competition and Trade》2014,14(4):511-518
In a market for ideas, an intermediary often masks buyers’ information that is not to be exposed to the public. This article shows that such obscuration plays an important role in removing excess inertia because it prevents the emergence of a bandwagon effect among buyers. This model applies to outsourcing-type R&D competition. Although innovation is spurred, welfare implications are ambiguous because the competition among buyers becomes harsher than it is in the absence of the intermediary. 相似文献
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Yoichi Tsuchiya Satoshi Suehara 《Journal of Chinese Economic and Business Studies》2013,11(4):397-406
This study investigates the directional accuracy of Chinese renminbi exchange rate forecasts by professional forecasters. The forecast with a horizon of one year is useful, whereas the forecasts with forecast horizons of one and three months are not useful in predicting the direction of the exchange rate change. The results for the long-term forecasts suggest that forecasters believe that the government maintains its foreign exchange rate policy of renminbi appreciation. In contrast, short-term forecasts show consistent evidence of exchange rate unpredictability. 相似文献