Joint Determination of Current Classroom Performance and Additional Economics Classes: A Binary/Continuous Model

Students in DEEP high schools are found to score higher on the Test of Economic Literacy but are less likely to want another course in economics than students who are not in DEEP schools.     

The Return of the Size Anomaly: Evidence from the German Stock Market

This paper examines the size effect in the German stock market and intends to address several unanswered issues on this widely known anomaly. Unlike recent evidence of a reversal of the size anomaly this study documents a conditional relation between size and returns. I also detect strong momentum across size portfolios. The results indicate that the marginal effect of firm size on stock returns is conditional on the firm's past performance. I use an instrumental variable estimation to address Berk's critique of a simultaneity bias in prior studies on the small firm effect and to investigate the economic rationale behind firm size as an explanatory variable for the variation in stock returns. The analysis in this paper indicates that firm size captures firm characteristic components in stock returns and that this regularity cannot be explained by differences in systematic risk.     

Fiscal Data Revisions in Europe

Revisions of budget balances in Europe could be particularly worrisome as adherence to multilateral surveillance rules is judged upon initial data releases. We use a pool of real‐time vintages of data for 15 EU countries over the period 1995–2008. Our main findings are: (i) preliminary releases are biased and nonefficient predictors of subsequent releases, (ii) such systematic bias in revisions is a general feature of the sample, (iii) Eurostat's decisions explain a significant share of the bias and provide some evidence of window dressing practices, and (iv) expected real gross domestic product growth, political cycles, and the strength of fiscal rules also contribute to explain revision patterns.     

劳工标准水平与外商直接投资流入——基于国别数据的实证研究

本文对劳工标准和直接投资流入之间的关系进行了实证研究，并且通过工具变量的使用控制了劳工标准与直接投资流入之间的内生性问题。实证研究的结果表明，与流行的观点相反．在其他条件相同的情况下，高劳工标准反而会成为吸引直接投资流入的原因．该结论无论在全部样本中还是在发展中国家样本中都得到了验证。     

Welfare economics and bounded rationality: the case for model-based approaches

In this paper, we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the case for the model-based approach and examine its advantages as well as some problematic issues associated with it.     

Resource regimes and cooperation

The choice of resource regimes is a choice over the cost of transacting and the ability and willingness to cooperate. This paper argues that people may be willing to forgo individual gains for the sake of the common good. This depends, however, on the institutional context. Hence, it is argued that an important role of resource regimes is their capacity to define whether the issue is one of individual gain or cooperation. The paper builds its arguments on material from experiments in psychology and economics. They show that cooperative action dominates under certain institutional structures while individual gain is fostered in others. Moreover, studies of behavior in real-life institutional settings—e.g., of markets, common property regimes and public provisioning—support these findings. The lessons learned are finally used to introduce a discussion over the direction of institutional design being able to solve the growing problems of global environmental degradation.     

中国政治民主化的困境分析

民主化是当前社会发展的一个总体趋势,它在带来一定机遇的同时,也对一些迈向现代化的发展中国家提出了挑战。从民主的条件这一立场出发,在发展民主的过程中,中国需要面对一系列的困境,包括经济上的贫富差距、腐败问题;政治上的合法性与合理性问题;民主政治文化的匮乏以及公民社会培养上的难题。     

区域产业转移行为的演化博弈分析

文章通过构建演化博弈模型分析了区域产业转移过程中转移方和承接方企业的行为选择,以及在博弈双方政府作用下的演化稳定策略,并通过数值算例和实际案例对结论进行了验证.结果表明,区域产业转移的实现有赖于博弈双方的初始投入成本、超额利润及利润分配的比例等因素,在政府作用机制下更为有效的激励机制将增加区域产业转移的实施概率.     

地质样品中贵金属多元素分析研究进展

近年来,贵金属的精确分析引起了人们的广泛关注,本文对国内外贵金属的试样分解、分离富集与分析技术的应用进行总结和评述,并对未来发展趋势进行了展望。