State competition in higher education: A race to the top,or a race to the bottom?

How does competition affect higher education? This paper explores this question for public and private universities. Theory indicates that competition can push higher education policy in one of two different directions. On the one hand, competition may increase spending. For states, this would occur if states treat higher education as developmental; for private universities this would occur if they view spending as a means to attract students and prestige. On the other hand, competition may decrease spending if states treat higher education spending as redistributive, and competition may decrease spending by private schools if lower spending enhances their ability to attract students with low tuition. To determine which of these perspectives is most valid, we examine higher education policy choices in the 1980s and 1990s. We find that states appear to act as if higher education funding is redistributive while private schools appear to compete more on the basis of tuition than spending. These results demonstrate the important effects competition and governance structure have on higher education.Received: August 2001, Accepted: May 2002, JEL Classification: I2, I22, H72, I3     

人民币汇率波动对NFDI波动的影响及其检验

本文通过对我国NFDI资本流动性及其波动性的计算,检验了人民币/美元汇率波动对NFDI波动性的关系。通过实证分析表明,人民币汇率的波动将导致NFDI资本流动的明显不稳定。在理论研究的基础上,引申出其政策含义：在国际资本流动不断加大的今天,我们必须维护人民币/美元汇率的稳定,这样对于有效引导NFDI的资本流动和维护金融稳定都具有重要的意义。     

Asset price volatility and banks

This paper examines the operation of Diamond–Dybvig banks when depositors have access to the asset market. Previous studies have shown that banks are redundant in this environment since it is impossible to prevent the strategic withdrawals. This paper shows that the strategic withdrawals can be prevented if the market risk, due to asset price volatility, is considered. Banks provide deterministic returns to the depositors since the aggregate withdrawals are predictable, and therefore, banks can choose the portfolio such that no asset liquidation is involved. However, an individual consumer with stochastic liquidity need is vulnerable to the price volatility if he holds the asset directly. Therefore, banks improve the consumers’ welfare by providing the insurance against not only the liquidity shock but also the market risk. Banks are not redundant.     

Intra-metropolitan shifts in labor demand and the adjustment of local markets

I offer new evidence on the adjustment of local labor markets to geographic shifts in labor demand within US metropolitan areas using a unique data set in which metropolitan subregions are geographically matched across the 1970–1980 and 1980–1990 decades. The evidence uncovered paints the following picture. Workers, especially those with less education, make incomplete adjustments within metropolitan areas in response to intra-metropolitan demand shifts. Although blacks may not make especially limited adjustments, they have disproportionately suffered deleterious effects from job movements because the demand shifts have tended to be away from their places of residence.     

A Case Study on Analysis of the Stylistic Features of News Coverage

With the guidance of discourse analysis, this paper attempts to explore the stylistic features of news coverage with concrete example from angles of global and local analysis, aiming at promoting people's knowledge of news coverage style and furthering understanding of it.     

用全站仪进行隧道拱顶及地表沉降观测初探

在测量麻竹高速公路宜保康隧道的拱顶以及地表沉降时,本工程采用了全站仪三角高程法,实践证明,该方法不仅具有快速、高效以及可靠等优点,其精度也能充分满足施工检测的要求。采用全站仪三角高程测量隧道内拱顶和地表沉降时,测量结果不仅能够很好的反映施工过程中围岩和土体的基本变化趋势,还能反映结果受到施工影响产生的异常变化,这些都是现场安排施工和评价支护稳定性的可靠依据。     

中国地表水资源利用效率区域差异研究

本文将中国31省区分为地表水资源丰富、比较丰富和比较稀缺的地区,运用数据包络分析法(DEA)对其2010年地表水资源效率进行研究。研究显示:31省区地表水资源差异较大,地表水资源比较稀缺的地区利用效率比较高,地表水利用效率和当地经济发展水平没有必然联系。