Afriat’s theorem for indivisible goods

We identify a natural counterpart of the standard GARP for demand data in which goods are all indivisible. We show that the new axiom (DARP, for “discrete axiom of revealed preference”) is necessary and sufficient for the rationalization of the data by a well-behaved utility function. Our results complement the main finding of Polisson and Quah (2013), who rather minimally modify the original consumer problem with indivisible goods so that the standard GARP still applies.     

Government intervention,sectoral productivity growth and structural transformation

This article examines the long-term impact of government intervention and sectoral productivity on structural transformation. We construct a multi-sector Dynamic General Equilibrium model that explicitly incorporates government intervention as a force of structural transformation. The government affects the economy through taxation and lump sum transfers. We show that in the steady state, a reduction in the tax rate and an increase in sectoral productivity will decrease the agricultural employment share, and when nonhomotheticity of preference is strong enough, these changes can also increase the share of services employment.     

The Media's Role in Influencing Perceptions of Housing Values and the Resulting Impact on the Macroeconomy

The housing market is a major component of the economy and persistent negative media reports can adversely affect perceptions and expectations of homeowners as to the value of their home. As a result, households reduce their expenditures and increase their savings in an effort to rebuild lost wealth. In the short run the economy suffers and the recession is magnified. This paper demonstrates, through an empirical study, how negative media reports regarding the deteriorating conditions of the national housing market affects what households feel their housing is worth.     

欧盟特保措施法对我国纺织品的影响及应采取的对策

本文对欧盟针对中国纺织品服装出口的特保措施法及实施细则进行了详细的介绍。主要分析了欧盟对于纺织品服装贸易特保措施法,提出我国相关企业应加快产业调整和产品升级,积极发挥我国政府和行业协会的作用,中欧之间的纺织品服装贸易就将朝着积极的方向发展。     

The economic burden of advanced Parkinson’s disease: an analysis of a UK patient dataset

Abstract

Background:

To evaluate the cost burden of patients with advanced Parkinson’s disease (PD) according to the waking hours per day spent in OFF state. An analysis of resource use comprising medical services, professional care and informal care data from an observational, cross-sectional study was conducted.

Methods:

A total of 60 physicians comprising 40 neurologists and 20 geriatricians across the UK participating in the Adelphi PD Disease Specific Programme took part. There were 302 PD patients at H&Y stages 3–5. Patients were characterised according to the percentage of time per day spent in OFF state (<25%, 26–50%, 51–75%, >75%).

Results:

Average 12-monthly total costs increased according to the time spent in OFF state from £25,630 in patients spending less than 25% of their waking hours in OFF to £62,147 for patients spending more than 75% of their time in OFF. Overall, 7% of costs were attributed to direct medical care, while 93% were split between direct non-medical professional care (50%) and indirect informal care (43%).

Limitations:

Low patient numbers in the more advanced disease stages of PD led to very little or no data to directly inform some of the severe health states of the analysis. Data gaps were filled in with data derived from a regression analysis which may affect the robustness of the analysis.

Conclusion:

This study illustrates the increasing costs of advancing PD, in particular related to the time spent in OFF state, and identifies that the foremost cost burden is associated with the care needs of the patient rather than medical services.     

货币政策透明性制度的国际比较:以央行沟通方式为基调

自20世纪90年代末期以来,世界绝大多数央行的货币政策透明性有了显著提高,但是未表现出一致性收敛特征。各国央行的货币政策信息沟通面临着不同程度的现实约束,有的央行在某些方面透明性还非常有限。在央行信息沟通方面还有许多值得研究的策略性、细节性技巧,处理不当就可能损害央行信誉。我国货币政策透明度还处于较低水平,需要进一步提高。     

The importance of being earners: why women in South Africa need well-paid jobs

The ‘children fare better’ viewpoint claims that children tend to be better fed if their mother (as opposed to father) has sufficient income of her own for food. This paper assesses this claim for South Africa, using data from household surveys. It considers the possibility that this issue is related to domestic violence between husband and wife, and finds an apparent link between wife's earnings, child nutrition and domestic violence. Children's well-being seems more assured if mothers have an adequate income; but there is more risk of inadequate nutrition in households where there is domestic violence against wives.     

Local interests or centralized targets? How China’s local government implements the farmland policy of Requisition–Compensation Balance

The Requisition–Compensation Balance of Farmland (RCBF) is a strict policy in China aimed at controlling farmland conversion and replenishing farmland loss caused by urban expansion through a set of top-down quotas. These conflict with local interests, since land conversion from agriculture to construction is a key tool by which local governments attract investment and raise fiscal revenue. How should local authorities respond to this centralized policy? This paper presents a framework “quantity–quality–productivity–environment” to investigate local governments’ coping strategy and the holistic performance of the RCBF. The empirical study indicated that local jurisdictions placed economic and financial growth first and continued expropriating farmland on a large-scale, including land of high quality, for development. However, impelled by compulsory quotas and supervision from governments at higher levels, local authorities would partly replenish the quantity loss through farmland exploitation, regardless of the quality of the new cropland and the possible environmental impact. Consequently, fast requisition and unqualified compensation undermined the capacity of regional agricultural output. We suggest that the RCBF is not capable of guaranteeing food security, whilst farmland supplementation threatens the local environment.     

Regional Energy Efficiency of China’s Commercial Sector: An Emerging Energy Consumer

This article applies a parametric metafrontier method and the Malmquist index to analyze the energy efficiency and its dynamic performance in China’s commercial sector from 1995 to 2013. The results indicate that the energy efficiency in China’s commercial sector is generally low, and there are significant regional differences and enormous energy-saving potentials. Relative to metafrontier, commercial sectors in eastern China have relatively higher energy efficiency; while those in central and western China have relatively low energy efficiency. Besides, the dynamic energy efficiency performance in China’s commercial sector has improved over the period. The technology improvement is a major driving factor to improve the energy efficiency in the commercial sectors of all the three regions.     

The implications of private tutoring on the school education in LDCs

In many LDCs, we observe that the public school teachers receive low wages, expend less than their full effort at school, and provide private tutoring to the students for a fee. To capture this institutional arrangement, we develop a theoretical model which shows that in comparison with ‘no-tutoring’, ‘tutoring’ is welfare reducing for all students in the economy. However, if the government considers only the students in the public system, then ‘tutoring’ can be welfare improving. In that case, the government would set a lower tax rate to pay wages to the teachers and let them provide tutoring to the students for a fee.