Wealth effect and investor sentiment

This paper investigated the relationship between the U.S. stock and housing markets as well as their influence on the wealth effect of consumption and found that the stock market sentiment index can explain changes in the wealth effect. The empirical results indicate that these two markets exert a wealth effect on consumption. The estimation results of the Markov-switching model indicate two states: a state in which the stock market influences its coexistence with the housing market and a state in which the housing and stock markets are unrelated. Public optimism regarding stock market investments affects the probability of transitioning between these states.     

The importance of firing costs and the Hosios condition in search models with endogenous job destruction

We construct a DSGE search model with endogenous job destruction, incorporating wage rigidities, firing costs and unemployment benefit. We investigate the most important factors in matching the model’s cyclical properties with empirical data, particularly those of job creation rates (JCR) and job destruction rates (JDR). Firing costs assist significantly in explaining the procyclicality of JCR, the negative correlation of JCR and JDR, and the persistence of vacancies. They also decrease the counter-cyclicality of job turnover. We also postulate that the Hosios condition helps explain the negative correlation of JCR and JDR and vacancies’ persistence. Varying wage rigidities and unemployment income, however, do not improve the results.     

An empirical analysis of the factors influencing farmer demand for forest insurance: Based on surveys from Lin’an County in Zhejiang Province of China

The lack of effective farmer demand is a major factor that restricts the development of China's forest insurance. To solve this problem, this study uses a Logit model to conduct an empirical analysis of relevant factors in the farmers’ demand for forest insurance, based on field survey data of Lin’an County, Zhejiang Province. The results show that the farmers’ understanding of forest insurance, the proportion of forestry revenues in the total household income, forest size, forest disaster frequency, forest insurance liability, insurance amount setup, and the farmers’ satisfaction regarding the premium subsidy policy, are the main factors that affect the farmers’ demand for forest insurance. Therefore, we propose to expand forest insurance promotion, raise the farmers’ income, rationally design insurance products, and optimize the forest premium subsidy policy to enhance the farmers’ willingness to participate in forest insurance.     

On the differences in measuring SMB and HML in the UK – Do they matter?

The Fama–French (FF) three factor model expands the capital asset pricing model (CAPM) to include two additional factors to the market factor – SMB, employed to capture a firm size effect in returns and HML employed to capture book-to-market effects in returns. In the UK, different researchers use different ways of calculating SMB and HML in the context of empirical applications of the three factor model, or extensions of it, perhaps because they believe the differences in the construction of the SMB and HML factors to be relatively unimportant from an empirical standpoint. We investigate whether indeed factor construction methods are unimportant. Our conclusion is that they do matter.     

抗滑桩在加固边坡稳定性中的应用及影响分析

为保证河道边坡稳定及行洪能力,减少城市用地,研究挡墙与抗滑桩相结合的边坡复式断面作为河道断面设计的重点。采用有限元计算软件,建立挡墙与抗滑桩相结合的复式断面数值模型,分析不同桩长、桩径的抗滑桩设计与安全系数之间的变化规律。结果表明,此类边坡的潜在滑弧位置会随着抗滑桩的桩长增加而上移,计算所得安全系数随着抗滑桩桩长的增长,出现先增大后减少的现象,故抗滑桩桩径的设计应结合实际需要综合确定。本研究为类似边坡抗滑桩设计提供参考依据。     

四维度模式下文化的渗透作用分析

文化在推动经济发展方面的作用日益凸显,作者主要就四维度模式下文化的渗透作用进行了系统的分析和研究,并提出了自己的看法。     

基于动态面板数据模型分析FDI的环境效应

外商直接投资在对中国经济增长起到积极推动作用的同时,我们也不可忽视其可能会对我国环境造成的影响。文章通过构建环境污染综合指数,并且以东中西部为三个横截面建立动态面板数据模型来分析外商直接投资对各个地区环境的影响。结果显示,外商直接投资和东部中部地区的环境污染指数之间有正相关关系,和西部地区的环境污染指数之间是一个负相关关系。     

An integrated approach to the purchase decision making process of food-delivery apps: Focusing on the TAM and AIDA models

The study employed two theories, the technology acceptance model (TAM) and the Attention-Interest-Desire-Action (AIDA) model, to provide an understanding of the process of consumers accepting an on-demand food-delivery app, and to establish the effect of marketing communication on outcomes related to consumer behavior. A conceptual model and hypotheses were developed by combining the key constructs of the two models to predict behavioral intentions. Findings revealed the attention and interest in the AIDA model related strongly to the salient behavioral beliefs of TAM, perceived usefulness and perceived ease of use. Thus, it can be concluded that marketing communication acts as an external element in the process of accepting new innovations. Besides, it was confirmed that attitude towards the adoption of new technology acts as a mediator that promotes desire for the app. From the disciplines of information system and marketing communication, the study suggests an innovative approach to incorporating models.     

Inflation and inflation uncertainty in China

The study examines the relationship between inflation and inflation uncertainty in China using Generalized Autoregressive Conditional Heteroscedasticity model. Particularly, this link is investigated in China’s urban and rural sectors, motivated by the substantial urban–rural divide. The results provide strong statistical supportive evidence that higher inflation raises inflation uncertainty. On the other hand, evidence on the effect of inflation uncertainty on inflation is mixed depending on the sample periods and areas examined. The understanding of inflation-uncertainty nexus in China could provide implications to policymakers in the adoption of monetary policies.     

基于致动线模型的风力机尾流场数值模拟

本文基于致动线模型求解三维Navier-Stokes方程的方法,对NTNU的"BlindTest1"风力机尾流场进行了数值模拟。该方法避免了求解实际叶片的表面边界层,无需使用动网格,从而大大降低了网格量和计算时间,非常适用于尾流场的模拟。该文所有计算均基于OpenFOAM自定义的求解器ALMpisoFoam。推力和功率的计算值与实验值吻合得很好,验证了求解器的正确性。3个典型叶尖速比下的轴向诱导因子、湍动能和尾涡结构等也在文中进行了简要分析。