Financial Structure,Technology, and Economic Growth: A Structural Matching Perspective

Different types of capital are better suited to financing technologies with different risk profiles, and structural matching between finance and technology may critically influence economic growth. Using cross-province panel data from China, we estimated the impact of the matching relationship between regions' financial structure and technology level on economic growth. We show that: (i) the matching relationship had a statistically significant positive impact on economic growth; (ii) structural mismatching reduced economic growth in comparison with the optimal matching point; (iii) structural matching better facilitated economic growth in more developed regions; and (iv) capital accumulation and technological progress were two of the main channels through which matching influenced economic growth. We address potential endogeneity concerns and perform robustness checks, and our results remain valid. Our findings provide convincing evidence for the optimal financial structure theory and explain China's rapid growth despite its comparatively underdeveloped securities market.     

The Balassa-Samuelson model with job separations

We incorporate sectoral job separation rates in a small open economy model to examine the Balassa-Samuelson (B-S) effect. Unequal separation rates give rise to compensating wage differentials. We simulate the model for Japan and replicate a feature of its economy that the nontradeables sector has higher wages and a higher separation rate compared to the tradeables sector. With productivity growth in the tradeables sector, labour moves from the tradeables sector to the nontradeables sector if tradeables and nontradeables are complements in consumption. The B-S effect is dampened. With a higher separation rate in the nontradeables sector, higher wages in the nontradeables sector amplifies this labour movement. Nevertheless, unemployment always falls due to a positive income effect. In contrast, the effect of productivity growth in the nontradeables sector is to lower the real exchange rate and raise unemployment.     

Assortative matching and commercial insurance participation: Evidence from the China Household Finance Survey

We investigated three assortative matching forms, positive assortative matching, women marrying up and men marrying up, and their effects on household commercial insurance participation, the number of family members with commercial insurance and household premium expenditures. Men marrying up has a significantly positive effect on the possibility of household commercial insurance participation and the number of family members having commercial insurance. The effect of men marrying up is larger in health insurance than in life insurance and annuity due to the salience of health risks. Finally, men marrying up interacts with the gender and risk attitude of the household financial decision-maker and may jointly affect household commercial insurance participation. Female decision-makers in marriages are more likely to purchase commercial insurance.     

Notes on marriage markets with weak externalities

We consider marriage markets with externalities. We focus on weak externalities, that is, markets in which each agent is primarily concerned about her partner. We formalize and prove the claim that weak externalities are not so significant in the marriage market: in this case, the ω-core and the α-core coincide and are both nonempty. In addition, we show that, if we allow agents to block matchings without changing their mate, the results do not longer hold.     

一种新的光伏发电预测模型的设计

为了对光伏发电的输出功率进行预测,本文分析光伏发电的影响因素,提出了一种基于太阳辐射功率曲线匹配的预测模型。该模型将历史数据按时段进行分解,查找与当前时段太阳辐射功率曲线最为匹配的数据,以此构建并训练BP神经网络,来预测未来3个小时内的太阳辐射功率,能够较好的实现预测目标。实验结果表明,该模型有较高的精度,可对电网调度起到重要的指导作用。     

城乡建设用地市场一体化测度及实证分析

研究目的：基于2015—2020年浙江省德清县与广东省南海区的城乡建设用地市场交易数据，实证分析产权的市场分割效应，定量测度城乡建设用地市场一体化水平并进行对比分析。研究方法：OLS回归，时空地理加权回归，倾向得分匹配与相对价格法。研究结果：（1）产权的市场分割效应显著且存在地区差异，集体产权在南海区正向影响建设用地价格,而在德清县反之；（2）地区间城乡建设用地市场一体化进程不一，集体建设用地市场发育更为成熟的南海区城乡建设用地市场一体化水平为1.707，相较于德清县的0.880领先；（3）同一地区不同区域的城乡建设用地市场一体化水平也存在分化，集体经营性建设用地以异地调整入市为特色的德清县相较于政府整备入市的南海区城乡建设用地市场一体化的内部差异更小。研究结论：产权依旧是城乡建设用地市场一体化面临的主要制度性壁垒，不同地区及其内部城乡建设用地市场一体化分异明显。未来在深入推进土地权利权能平等，改善集体建设用地区位劣势的同时，也需进一步关注城乡建设用地市场一体化在区域协调发展中的作用。     

中国科技社团服务科技经济融合发展能力评价体系研究

以往研究侧重对科技社团“已做了什么”的评价,缺乏对“应该做什么”的考察。基于扎根理论,从供、需整合视角,综合科技与经济融合对科技服务的外部需求,及科技社团自身定位所提出的能力建设需求,确定科技社团服务科技经济融合发展的能力构成维度,引入网络数据,开发评价指标体系,并以工科学会为例开展实证。结果显示,中国工科学会能力建设存在不匹配、有缺失、不均衡和手段落后等问题。根据研究结果提出了对策建议。     

Solar-powered cold-storage and agrifood market modernization in Nigeria

Modern cooling technologies that utilize renewable energy sources have been increasingly recognized as promising tools to address various challenges emerging in progressively complex agrifood systems in developing countries. Knowledge gaps about the actual impacts of these technologies in developing countries remain, especially in Africa south of the Sahara (SSA). This study fills this knowledge gap by providing evidence from the evaluation of recent interventions in northeast Nigeria in which seven small solar-powered cold storages were installed across seven horticulture markets. Combinations of difference-in-difference (DID) and variants of propensity-score-based methods suggest that cold storage significantly increased horticulture sales volumes and revenues of market agents. Back-of-the-envelope calculations indicate that increased net revenues for market agents may be sufficiently large to recoup cold storage investments and operating costs within a reasonable time frame. Using cold storage also reduced the share of food loss. It lengthened the products' shelf-life while raising prices received by market agents and farmers, which were associated with improved product quality, expanded value-adding activities by market agents, and increased use of advance payments.     

Endogenous Growth,Skill Obsolescence,and Output Hysteresis in a New Keynesian Model with Unemployment

We embed skill obsolescence and endogenous growth into a New Keynesian model with search-and-matching frictions. The model accounts for key features of the Great Recession: the “productivity puzzle” and the “missing disinflation puzzle.” Lower aggregate demand raises long-term unemployment and the training costs associated with skill obsolescence. Lower aggregate employment hinders learning-by-doing, which slows down human capital accumulation, feeding back into even fewer vacancies than justified by the demand shock alone. These feedback channels mitigate the disinflationary effect of the demand shock while amplifying its contractionary effect on output. The temporary growth slowdown translates into output hysteresis.