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Reputation and Optimal Contracts for Central Bankers
http://www.paper.edu.cn 中国科技论文在线 Macroeconomic Dynamics, 15, 2011, 441–464. Printed in the United States of America. doi:10.1017/S1365100510000076 ARTICLES REPUTATION AND OPTIMAL CONTRACTS FOR CENTRAL BANKERS KEVIN X. D. HUANG Vanderbilt University GUOQIANG TIAN Texas A&M University and Shanghai University of Finance and Economics We implement optimal economic outcomes at the lowest social cost by combining reputation and contracting mechanisms to overcome the time-inconsistency problem of monetary policy associated with an inflation bias. We characterize the conditions under which the reputation force alone induces a central bank to behave in a socially optimal way. When these conditions fail, an incentive contract is invoked, whose cost is significantly reduced by the presence of the reputation force. The contract poses a penalty threat that is a concave function of wage growth, which in equilibrium is tied to expected rather than realized inflation, with a global maximum that provides the least upper bound on all threatened penalties. This bound can be used as a uniform penalty threat to achieve optimal economic outcomes and still, for moderate to large shocks, its magnitude can be much smaller than the size of the transfers required by the standard contracts that are linear functions of realized inflation rates. Further, under both the concave and the uniform penalty threats, the central bank will behave in the socially optimal way and no transfer is materialized in equilibrium. Thus our hybrid mechanism solves the time-inconsistency problem while leaving the central bank with complete discretion to respond to new circumstances, without any reputation cost or penalty threatened by the contract actually invoked along the equilibrium path. -
Program Overview P
Table of Contents Acknowledgments P. 2 About the Host P. 3 Program Overview P. 4 - 5 Committees P. 6 - 7 Floor Map of the Conference Venue P. 8 - 9 Walking Route from Conference Venue to Lunch Venues P. 10 Walking Route from Conference Venue to Conference Dinner Venue P. 11 Opening Ceremony and Keynote Lectures P. 12 Invited Lectures P. 13 Overview of Contributed / Invited Sessions P. 14 - 22 Full List of Contributed / Invited Sessions P. 23 - 104 Full List of Presenters P. 105 - 120 Bad Weather Arrangement P. 120 Wi-Fi Connection in Conference Venue P. 121 - 135 1 Acknowledgments e would like to express our gratitude to the Econometric Society for providing us an opportunity W to host this prestigious conference. In particular, we thank Professor Atsushi Kajii, the Chair of the Asia Regional Standing Committee for his constant advice. We are indebted to Professor Christopher Pissarides and Professor Mark Rosenzweig, the Program Committee, Local Organizing Committee, Advisory Committee and session organizers for their valuable contributions to the conference. We would like to thank our University for great support during our conference organization. We are grateful to the Dean and the Faculty of Social Science for generous financial support. We are honored to have Professor Eddie Dekel (President of The Econometric Society, 2016), Mr. Mo-po Paul Chan (Financial Secretary of the Hong Kong Government), and Professor Benjamin Wah (Provost of The Chinese University of Hong Kong) to officiate at the opening ceremony. Last but not least, we would also like to take this opportunity to thank all our faculty members, staff and students for their dedicated work behind the scenes. -
February 2021 CURRICULUM VITAE DENNIS TAO YANG PERSONAL
February 2021 CURRICULUM VITAE DENNIS TAO YANG PERSONAL INFORMATION Work Address: Darden School of Business University of Virginia (UVA) Charlottesville, VA 22906, USA Phone: (434) 924−0906 Email: [email protected] Date and Place of Birth: February 1, 1966; Beijing, China Marital Status: Married; two children Citizenship: United States of America EDUCATION 1994 Ph.D., Economics, University of Chicago 1987 B.A., Economics, Magna Cum Laude, University of California, Los Angeles 1984 International Baccalaureate, United World College, Trieste, Italy FIELDS OF INTEREST Economic Development and Growth Labor and Demographic Economics Economics of China and Transition PROFESSIONAL EXPERIENCE Academic Positions: 2013− Dale S. Coenen Free Enterprise Professor, Darden School of Business, UVA 2012− Professor, Darden School of Business, UVA 2013−16 Chang Jiang Professorship, Antai College of Economics and Management, Shanghai Jiao Tong University, China 2007−12 Professor, Department of Economics, Chinese University of Hong Kong (CUHK) 2006−07 Professor, Department of Economics, Virginia Polytechnic Institute and State University (Virginia Tech); 2001−2005, Associate Professor 1994−2001 Assistant Professor, Department of Economics, Duke University 2012− Senior Fellow, Economic Research Center, Hong Kong Institute of Asia-Pacific Studies, CUHK 2010− Research Fellow, Institute for the Study of Labor (IZA), Germany 2005−14 Senior Fellow, Center for China in the World Economy, Tsinghua University 2007−13 Senior Fellow, China Center for Public Finance, -
A Dynamic Schedule Based on Integrated Time Performance Prediction
2009 First International Conference on Information Science and Engineering (ICISE 2009) Nanjing, China 26 – 28 December 2009 Pages 1-906 IEEE Catalog Number: CFP0976H-PRT ISBN: 978-1-4244-4909-5 1/6 TABLE OF CONTENTS TRACK 01: HIGH-PERFORMANCE AND PARALLEL COMPUTING A DYNAMIC SCHEDULE BASED ON INTEGRATED TIME PERFORMANCE PREDICTION ......................................................1 Wei Zhou, Jing He, Shaolin Liu, Xien Wang A FORMAL METHOD OF VOLUNTEER COMPUTING .........................................................................................................................5 Yu Wang, Zhijian Wang, Fanfan Zhou A GRID ENVIRONMENT BASED SATELLITE IMAGES PROCESSING.............................................................................................9 X. Zhang, S. Chen, J. Fan, X. Wei A LANGUAGE OF NEUTRAL MODELING COMMAND FOR SYNCHRONIZED COLLABORATIVE DESIGN AMONG HETEROGENEOUS CAD SYSTEMS ........................................................................................................................12 Wanfeng Dou, Xiaodong Song, Xiaoyong Zhang A LOW-ENERGY SET-ASSOCIATIVE I-CACHE DESIGN WITH LAST ACCESSED WAY BASED REPLACEMENT AND PREDICTING ACCESS POLICY.......................................................................................................................16 Zhengxing Li, Quansheng Yang A MEASUREMENT MODEL OF REUSABILITY FOR EVALUATING COMPONENT...................................................................20 Shuoben Bi, Xueshi Dong, Shengjun Xue A M-RSVP RESOURCE SCHEDULING MECHANISM IN PPVOD -
China's Capacity to Manage Infectious Diseases
China’s Capacity to Manage Infectious Diseases CENTER FOR STRATEGIC & Global Implications CSIS INTERNATIONAL STUDIES A Report of the CSIS Freeman Chair in China Studies 1800 K Street | Washington, DC 20006 PROJECT DIRECTOR Tel: (202) 887-0200 | Fax: (202) 775-3199 Charles W. Freeman III E-mail: [email protected] | Web: www.csis.org PROJECT EDITOR Xiaoqing Lu March 2009 ISBN 978-0-89206-580-6 CENTER FOR STRATEGIC & Ë|xHSKITCy065806zv*:+:!:+:! CSIS INTERNATIONAL STUDIES China’s Capacity to Manage Infectious Diseases Global Implications A Report of the CSIS Freeman Chair in China Studies PROJECT DIRECTOR Charles W. Freeman III PROJECT EDITOR Xiaoqing Lu March 2009 About CSIS In an era of ever-changing global opportunities and challenges, the Center for Strategic and Inter- national Studies (CSIS) provides strategic insights and practical policy solutions to decisionmak- ers. CSIS conducts research and analysis and develops policy initiatives that look into the future and anticipate change. Founded by David M. Abshire and Admiral Arleigh Burke at the height of the Cold War, CSIS was dedicated to the simple but urgent goal of finding ways for America to survive as a nation and prosper as a people. Since 1962, CSIS has grown to become one of the world’s preeminent public policy institutions. Today, CSIS is a bipartisan, nonprofit organization headquartered in Washington, D.C. More than 220 full-time staff and a large network of affiliated scholars focus their expertise on defense and security; on the world’s regions and the unique challenges inherent to them; and on the issues that know no boundary in an increasingly connected world. -
UC Santa Barbara UC Santa Barbara Electronic Theses and Dissertations
UC Santa Barbara UC Santa Barbara Electronic Theses and Dissertations Title Fashioning the Reclusive Persona: Zeng Jing's Informal Portraits of the Jiangnan Literati Permalink https://escholarship.org/uc/item/2mx8m4wt Author Choi, Seokwon Publication Date 2016 Peer reviewed|Thesis/dissertation eScholarship.org Powered by the California Digital Library University of California UNIVERSITY OF CALIFORNIA Santa Barbara Fashioning the Reclusive Persona: Zeng Jing’s Informal Portraits of the Jiangnan Literati A dissertation submitted in partial satisfaction of the requirements for the degree Doctor of Philosophy in Art History by Seokwon Choi Committee in charge: Professor Peter C. Sturman, Chair Professor Miriam Wattles Professor Hui-shu Lee December 2016 The dissertation of Seokwon Choi is approved. _____________________________________________ Miriam Wattles _____________________________________________ Hui-shu Lee _____________________________________________ Peter C. Sturman, Committee Chair September 2016 Fashioning the Reclusive Persona: Zeng Jing’s Informal Portraits of the Jiangnan Literati Copyright © 2016 by Seokwon Choi iii ACKNOWLEDGEMENTS My sincerest gratitude goes to my advisor, Professor Peter C. Sturman, whose guidance, patience, and confidence in me have made my doctoral journey not only possible but also enjoyable. It is thanks to him that I was able to transcend the difficulties of academic work and find pleasure in reading, writing, painting, and calligraphy. As a role model, Professor Sturman taught me how to be an artful recluse like the Jiangnan literati. I am also greatly appreciative for the encouragement and counsel of Professor Hui-shu Lee. Without her valuable suggestions from its earliest stage, this project would never have taken shape. I would like to express appreciation to Professor Miriam Wattles for insightful comments and thought-provoking discussions that helped me to consider the issues of portraiture in a broader East Asian context. -
A Visualization Quality Evaluation Method for Multiple Sequence Alignments
2011 5th International Conference on Bioinformatics and Biomedical Engineering (iCBBE 2011) Wuhan, China 10 - 12 May 2011 Pages 1 - 867 IEEE Catalog Number: CFP1129C-PRT ISBN: 978-1-4244-5088-6 1/7 TABLE OF CONTENTS ALGORITHMS, MODELS, SOFTWARE AND TOOLS IN BIOINFORMATICS: A Visualization Quality Evaluation Method for Multiple Sequence Alignments ............................................................1 Hongbin Lee, Bo Wang, Xiaoming Wu, Yonggang Liu, Wei Gao, Huili Li, Xu Wang, Feng He A New Promoter Recognition Method Based On Features Optimal Selection.................................................................5 Lan Tao, Huakui Chen, Yanmeng Xu, Zexuan Zhu A Center Closeness Algorithm For The Analyses Of Gene Expression Data ...................................................................9 Huakun Wang, Lixin Feng, Zhou Ying, Zhang Xu, Zhenzhen Wang A Novel Method For Lysine Acetylation Sites Prediction ................................................................................................ 11 Yongchun Gao, Wei Chen Weighted Maximum Margin Criterion Method: Application To Proteomic Peptide Profile ....................................... 15 Xiao Li Yang, Qiong He, Si Ya Yang, Li Liu Ectopic Expression Of Tim-3 Induces Tumor-Specific Antitumor Immunity................................................................ 19 Osama A. O. Elhag, Xiaojing Hu, Weiying Zhang, Li Xiong, Yongze Yuan, Lingfeng Deng, Deli Liu, Yingle Liu, Hui Geng Small-World Network Properties Of Protein Complexes: Node Centrality And Community Structure -
Zeng Jing's Informal Portraits of the Jiangnan Litera
UNIVERSITY OF CALIFORNIA Santa Barbara Fashioning the Reclusive Persona: Zeng Jing’s Informal Portraits of the Jiangnan Literati A dissertation submitted in partial satisfaction of the requirements for the degree Doctor of Philosophy in Art History by Seokwon Choi Committee in charge: Professor Peter C. Sturman, Chair Professor Miriam Wattles Professor Hui-shu Lee December 2016 The dissertation of Seokwon Choi is approved. _____________________________________________ Miriam Wattles _____________________________________________ Hui-shu Lee _____________________________________________ Peter C. Sturman, Committee Chair September 2016 Fashioning the Reclusive Persona: Zeng Jing’s Informal Portraits of the Jiangnan Literati Copyright © 2016 by Seokwon Choi iii ACKNOWLEDGEMENTS My sincerest gratitude goes to my advisor, Professor Peter C. Sturman, whose guidance, patience, and confidence in me have made my doctoral journey not only possible but also enjoyable. It is thanks to him that I was able to transcend the difficulties of academic work and find pleasure in reading, writing, painting, and calligraphy. As a role model, Professor Sturman taught me how to be an artful recluse like the Jiangnan literati. I am also greatly appreciative for the encouragement and counsel of Professor Hui-shu Lee. Without her valuable suggestions from its earliest stage, this project would never have taken shape. I would like to express appreciation to Professor Miriam Wattles for insightful comments and thought-provoking discussions that helped me to consider the issues of portraiture in a broader East Asian context. I owe a special debt of gratitude to Susan Tai, Elizabeth Atkins Curator of Asian Art at the Santa Barbara Museum of Art. She was my Santa Barbara mother, and she helped made my eight-year sojourn in the American Riviera one that I will cherish forever. -
Existence of Equilibria in Games with Arbitrary Strategy Spaces and Payoffs: a Full Characterization
Existence of Equilibria in Games with Arbitrary Strategy Spaces and Payoffs: A Full Characterization Guoqiang Tian¤ Department of Economics Texas A&M University College Station, Texas 77843 USA November, 2008/Revised: May, 2009 Abstract This paper provides a complete solution to the question of the existence of equilibria in games with general strategy spaces that may be discrete, continuum or non-convex and payoff functions that may be discontinuous or do not have any form of quasi-concavity. We establish a single condition, called recursive diagonal transfer continuity, which is both necessary and sufficient for the existence of pure strategy Nash equilibrium in games with arbitrary compact strategy spaces and payoffs. As such, our result strictly generalizes all the existing results on the existence of pure strategy Nash equilibrium. Moreover, recursive diagonal transfer continuity also permits full characterization of symmetric, mixed strategy, and Bayesian Nash equilibria in games with general strategy spaces and payoffs. The approach and main result developed in the paper can also allow us to ascertain the existence of equilibria in impor- tant classes of economic games. As an illustration, we show how they can be employed to fully characterize the existence of competitive equilibrium for economies with excess demand functions. The method of proof adopted to obtain our main result is also new and elementary — a non-fixed-point-theorem approach. Keywords: existence of pure, symmetric, mixed strategy, and Bayesian Nash equilibrium; recursive diagonal transfer continuity; discontinuity; non-quasiconcavity; nonconvexity. ¤This is a research project working on for a long time. I thank Paulo Barelli, Xiaoyong Cao, Eric Maskin, David Rahman, Mingjun Xiao, and seminar participants at Texas A&M University for comments and suggestions. -
Engaging with Socialism in China: the Political Thought and Activities of Chen Gongbo and Tan Pingshan, 1917-1928
Engaging with Socialism in China: The Political Thought and Activities of Chen Gongbo and Tan Pingshan, 1917-1928 Xuduo Zhao PhD University of York History May 2019 1 Abstract This thesis investigates Chen Gongbo (1892-1946) and Tan Pingshan (1886-1956), two significant Cantonese Marxists who helped found the Chinese Communist Party (CCP) in 1921. I use Chen and Tan as a lens to re-examine the dissemination of Marxism in May Fourth China and the underlying tensions in 1920s Chinese revolution. My study demonstrates that it was in the changing educational system in the early 20th century that Chen and Tan gradually improved their positions in the cultural field and participated in the intellectual ferment during the May Fourth period. At Peking University they became familiarised with Marxism. Their understanding of Marxism, however, was deeply influenced by European social democracy, as opposed to many other early communist leaders who believed in Bolshevism. This divergence finally led to the open conflict within the CCP between Guangzhou and Shanghai in the summer of 1922, which also embodied the different social identities among early Chinese Marxists. After the quarrel, Chen quit while Tan remained within the party. During the Nationalist Revolution, both Tan and Chen became senior leaders in the Kuomintang, but they had to face yet another identity crisis of whether to be a revolutionary or a politician. Meanwhile, they had to rethink the relationship between socialism and nationalism in their political propositions. This study of Chen and Tan’s political thought and activities in the late 1910s and 1920s offers a different picture of Chinese radicalism and revolution in the early Republican period. -
PDF Is a Selection from a Published Volume from the National Bureau of Economic Research
This PDF is a selection from a published volume from the National Bureau of Economic Research Volume Title: American Universities in a Global Market Volume Author/Editor: Charles T. Clotfelter, editor Volume Publisher: University of Chicago Press Volume ISBN: 0-226-11044-3; 978-0-226-11044-8 Volume URL: http://www.nber.org/books/clot08-1 Conference Date: October 2-4, 2008 Publication Date: May 2010 Chapter Title: Higher Education in China: Complement or Competition to US Universities? Chapter Author: Haizheng Li Chapter URL: http://www.nber.org/chapters/c11599 Chapter pages in book: (269 - 304) 8 Higher Education in China Complement or Competition to US Universities? Haizheng Li 8.1 Introduction In 2006, a total of 134,000 Chinese students went abroad to further their education, a number almost as large as the total number of new interna- tional students (142,923) coming to the United States from all countries.1 Chinese students accounted for 11.6 percent of the total number of inter- national students in the United States in that year. In recent years, China has ranked fi rst, or second to India, in numbers of students studying in the United States. Since 1978, when China began to open to the outside world, the United States has been receiving an increasing number of Chinese stu- dents. In 2005, 23 percent of all overseas Chinese students were in the United States (Fazackerley and Worthington 2007). Chinese students mostly enroll in graduate programs in the United States, and they are in all major universities, especially Research I universities. -
On the Fundamentals of a Successful Reform for National Prosperity—An Economic Analysis Based on the Practice of China’S Reform
Front. Econ. China 2013, 8(4): 490–515 DOI 10.3868/s060-002-013-0025-5 RESEARCH ARTICLE Xudong Chen, Guoqiang Tian, Jijun Xia On the Fundamentals of a Successful Reform for National Prosperity—An Economic Analysis Based on the Practice of China’s Reform Abstract This paper discusses the fundamentals required for successful reform, i.e., the necessary institutional changes required to make a nation grow sustainably wealthier. It argues that enriching the people is a prerequisite for a prosperous nation and further reveals the inherent logic behind the statement “in order to enrich the people, they must be given private rights, and in order to protect the people’s private rights, public power must be limited.” Based on this argument, we examine and analyze the experience of China’s reform over the past 30 years and come to the conclusion that it is necessary to transform government functions and further deepen market-oriented reform. We hold that China’s economic performance bears no special or exceptional economic law, and there does not exist the so-called “China Model” characterized by government taking the leading role as a relatively mature, stable, and widely applicable development model, but that there does exist a Chinese development path or experience featuring the inherent logic of “prospering the nation through enriching its people” that can be employed by countries all over the world. Keywords prospering the nation through enriching its people, information asymmetry, incentive compatibility, limited government JEL Classification