INFORMATION AGGREGATION,GROWTH, AND FRANCHISE EXTENSION WITH APPLICATIONS TO FEMALE ENFRANCHISEMENT AND INEQUALITY

We develop a model of voluntary gradual franchise extension and growth based on the idea that voting is an information aggregation mechanism. A larger number of voters means that more correct decisions are made, hence increasing output, but also implies that any incremental output must be shared among more individuals. These conflicting incentives lead to a dynamic model of franchise extensions that is consistent with several real world episodes, including female enfranchisement. The model also predicts that in certain circumstances growth and enfranchisement will be accompanied by Kuznets curve type behaviour in inequality. Contrary to the preceding literature these conclusions do not rest on incentives for strategic delegation.     

Financing investment in East Asia: Regional or global savings?

This paper investigates the extent to which domestic investment in East Asian countries is financed by domestic, (East Asian) regional and global savings in order to infer the relative importance of regional vs. global capital markets in East Asia. Panel regression results show that regional saving in East Asia plays a much more important role than global saving in financing investment in the region. The results suggest that global capital flows, despite its huge volume in East Asia, does not contribute to proper investment financing. The results also show that Japanese saving has significant effects on regional investment but Chinese saving does not.     

PARTISAN ADVOCATES

This paper studies the problem of an uninformed decision maker who acquires expert advice prior to making a decision. I show that it is less costly to hire partisan agents than impartial agents, especially under advocacy, and that the decision maker prefers partisan advocacy to other forms of institutions. I also extend the literature, originating with Dewatripont and Tirole ( 1999 ), to a setting with contracts that condition on information provided and not just the decision made.     

Counterfeiting as Private Money in Mechanism Design

We describe counterfeiting activity as the issuance of private money, one that is difficult to monitor. Our approach, which amends the basic random‐matching model of money in mechanism design, allows a tractable welfare analysis of currency competition. We show that it is not efficient to eliminate counterfeiting activity completely. We do not appeal to lottery devices, and we argue that this is consistent with imperfect monitoring.     

The effect of banking market structure on the lending channel: Evidence from emerging markets

This paper analyses the extent to which the level of bank competition influences monetary policy transmission. Using a large panel dataset of 978 banks from 55 countries, and employing the Lerner index model as a measure of market structure, our results show that an increase in banking sector competition weakens the effectiveness of monetary policy on bank lending. The findings are robust to a broad array of sensitivity checks including control of alternative measurements of the Lerner index, different samples and different methodological specifications. By extension, these results have important policy implications for regulators in assessing the effectiveness of monetary policy transmission mechanisms.     

深入学习贯彻党的十八届四中全会精神依法推进高职教育事业健康快速发展

党的十八届四中全会通过的《中共中央关于全面推进依法治国若干重大问题的决定》为全面推进依法治国作出重大部署.我们不仅要从历史和全局的高度学习贯彻十八届四中全会精神和《决定》内涵,以实事求是的精神全面推进依法治国,同时又要以依法治国方针为指导,全面推进高职教育事业健康快速发展.     

TEM4改革前后完形填空的考点效度对比分析

2005年以来英语专业四级考试完形填空试题的考点效度比以前有所提高,但句子层次考点数量仍然偏高。教师在教学过程中应注重培养学生的语篇理解能力和逻辑分析能力,提高学生的语言综合运用能力。     

基于SWOT分析的茅台营销策略研究

茅台酒的发展历程,也是我国酒文化的发展历程,在不断的传承和发展中逐渐形成了茅台酒特有的口感和独特的文化品牌价值,更为其赢得了国酒的美誉,雄踞高档白酒的顶端。通过对茅台进行SWOT分析,可以发现茅台发展也面临一定的挑战,基于4P战略为茅台提出营销策略。     

TEM4之作文错误分析及其对教学的反拨作用

学生写作中经常出现词汇、语法、措辞等方面的错误,教师在教学中应分析其错误形成的原因,正确对待其错误,努力改进教学方法和评价手段,鼓励学生自主学习,以提高学生文化修养和作文质量。