Welfare properties of strategic R&D investments in Hotelling models

In linear-city models, if firms are allowed (not allowed) to locate outside the linear city, they engage in excessive (insufficient) R&D investments from the normative viewpoint. This implies that the feasible set of locations drastically affects their investments.     

Public provision of health insurance and aggregate saving in an overlapping generations model with endogenous health risk: The South Korean case

This paper examines the effect of expanding public health insurance in South Korea on medical expenditures and aggregate saving using an overlapping generations model with endogenous health risk. South Korea had a substantial underinsured population, which is aging rapidly. Higher public health insurance benefits reduce individual medical expenditure and health risks but lead to a modest decline in individual and aggregate saving. Even after the expansion, the medical care coverage remains incomplete, and the elderly face a substantial risk of out-of-pocket medical expenditures.     

我国中部地区国家级高新技术产业开发区创新绩效评价

对高新技术产业开发区创新绩效进行评价,有助于发现和解决高新区创新体系运行中存在的问题,提高创新体系的运行效率。本文根据高新区的创新过程和特点,选取了高新区创新绩效的评价指标,并运用C2R模型对我国中部地区9个国家级高新区的创新绩效进行了评价。结果发现:部分中部地区国家级高新区的创新投入不足、资源配置效率偏低。为了促进这些高新区的发展,必须加强政策、金融、中介、技术和信息服务体系的建设,形成一个创新的网络体系。     

Factor Substitution, Income Distribution and Growth in a Generalized Neoclassical Model

Abstract. We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution on economic growth. We show that this impact relies on both an efficiency and a distribution effect, where the latter is caused by the distributional consequences of an increase in the elasticity of substitution. While the efficiency effect is always positive, the sign of the distribution effect depends on the particular savings hypothesis. If the savings rate out of capital income is substantial so that a certain threshold value is surpassed, the efficiency effect dominates and higher factor substitution accelerates the accumulation of capital and works as a major engine of growth.     

Implementing efficient market structure

Abstract. This article studies the design of optimal mechanisms to regulate entry in natural oligopoly markets, assuming the regulator is unable to control the behavior of firms once they are in the market. We adapt the Clarke–Groves mechanism, characterize the optimal mechanism that maximizes the weighted sum of expected social surplus and expected tax revenue, and show that these mechanisms avoid budget deficits and prevent excessive entry. Received: 7 May 2001 / Accepted: 24 June 2002 We would like to thank seminar participants at Bonn and Berlin, in particular Peter Bank, Wieland Müller, and Urs Schweizer, the two anonymous referees, and the associate editor for most useful and exceptionally detailed comments. Financial support was received by the Deutsche Forschungsgemeinschaft, SFB 373 (“Quantifikation und Simulation ?konomischer Prozesse”), Humboldt–Universit?t zu Berlin.     

Statistical Regularity and Free Will: L.A.J. Quetelet and P.A. Nekrasov

In the 19th century, causes of empirically observed stability of averages in settings relating to human behaviour were a topic of intense discussion in western Europe. This followed an extensive study of empirical stability by the founder of modern statistics (and of the International Statistical Institute) L.A.J. Quetelet, published in 1835, in what he called "Social Physics". The eminent mathematician of strong probabilistic and philosophical inclination and Russian Orthodox religious belief, P.A. Nekrasov, took up and modified Quetelet's Social Physics in 1902, with (social) independence seen as prime cause of statistical regularity. Our paper focuses on the role free will plays in the statistical writings of Quetelet and of Nekrasov. The work of the latter has remained little known in general, mainly for politico-ideological reasons.     

Ethnic enclaves in the classroom

We use data on elementary-school students to investigate how the home language and other characteristics of a student's same-grade schoolmates influence that student's academic achievement. We exploit the availability of multiple cohorts of data within each school to control for endogenous selection by incorporating school fixed effects in the model. We also exploit the longitudinal structure of the data to estimate value-added models of the educational production function. We find that attending an “enclave” school provides a slight net benefit to Chinese home-language students and a large net cost to Punjabi home-language students. The results are consistent with a simple peer effects mechanism in which the academic achievement or behavior of peers is much more important than their home language.     

Karl Pearson and the Establishment of Mathematical Statistics

At the end of the nineteenth century, the content and practice of statistics underwent a series of transitions that led to its emergence as a highly specialised mathematical discipline. These intellectual and later institutional changes were, in part, brought about by a mathematical-statistical translation of Charles Darwin's redefinition of the biological species as something that could be viewed in terms of populations. Karl Pearson and W.F.R. Weldon's mathematical reconceptualisation of Darwinian biological variation and "statistical" population of species in the 1890s provided the framework within which a major paradigmatic shift occurred in statistical techniques and theory. Weldon's work on the shore crab in Naples and Plymouth from 1892 to 1895 not only brought them into the forefront of ideas of speciation and provided the impetus to Pearson's earliest statistical innovations, but it also led to Pearson shifting his professional interests from having had an established career as a mathematical physicist to developing one as a biometrician. The innovative statistical work Pearson undertook with Weldon in 1892 and later with Francis Galton in 1894 enabled him to lay the foundations of modern mathematical statistics. While Pearson's diverse publications, his establishment of four laboratories and the creation of new academic departments underscore the plurality of his work, the main focus of his life-long career was in the establishment and promulgation of his statistical methodology.     

房地产企业资本结构与盈利能力的关系研究--以R集团为例

近年来,我国对房地产行业的调控与监管日益增强,房地产企业融资成本提高,负债压力高居不下,盈利水平下降。在这种背景下,房地产企业需要通过调整自身经营战略,改善资本结构和经营模式,规避风险,创造利润。论文以R集团为例,探究其资本结构与盈利能力的关系现状,并对优化R集团资本结构、提升盈利能力提出合理建议。     

Leader–Member Exchange and Relational Quality in a Singapore Public Sector Organization

An objective of Singapore’s ongoing public sector reform (PS21) requires agencies to focus on getting the best out of its employees. One way of doing this is by creating a positive leader–member exchange (LMX) relationship, enabling supervisors to motivate their subordinates towards the development of organizational citizenship behaviours (OCBs). This article reports the extent of LMX and relational quality in a public sector agency experiencing PS21 reform and high staff turnover. In addition, we examined the effects of organizational justice perceptions and job satisfaction towards a subordinates’ OCB. A path model was developed to examine the relationships between LMX, organizational justice, job satisfaction, and OCB and tested by applying LMX theory. The path analysis results showed that LMX mediates the relationship between organizational justice perceptions and OCB. The results also showed that one’s job satisfaction led to higher level of OCB. The study findings have implications for theory and practice which have been presented in the discussion section.