Yijiang Wang
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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. -
Ethnobotanical Study on Wild Edible Plants Used by Three Trans-Boundary Ethnic Groups in Jiangcheng County, Pu’Er, Southwest China
Ethnobotanical study on wild edible plants used by three trans-boundary ethnic groups in Jiangcheng County, Pu’er, Southwest China Yilin Cao Agriculture Service Center, Zhengdong Township, Pu'er City, Yunnan China ren li ( [email protected] ) Xishuangbanna Tropical Botanical Garden https://orcid.org/0000-0003-0810-0359 Shishun Zhou Shoutheast Asia Biodiversity Research Institute, Chinese Academy of Sciences & Center for Integrative Conservation, Xishuangbanna Tropical Botanical Garden, Chinese Academy of Sciences Liang Song Southeast Asia Biodiversity Research Institute, Chinese Academy of Sciences & Center for Intergrative Conservation, Xishuangbanna Tropical Botanical Garden, Chinese Academy of Sciences Ruichang Quan Southeast Asia Biodiversity Research Institute, Chinese Academy of Sciences & Center for Integrative Conservation, Xishuangbanna Tropical Botanical Garden, Chinese Academy of Sciences Huabin Hu CAS Key Laboratory of Tropical Plant Resources and Sustainable Use, Xishuangbanna Tropical Botanical Garden, Chinese Academy of Sciences Research Keywords: wild edible plants, trans-boundary ethnic groups, traditional knowledge, conservation and sustainable use, Jiangcheng County Posted Date: September 29th, 2020 DOI: https://doi.org/10.21203/rs.3.rs-40805/v2 License: This work is licensed under a Creative Commons Attribution 4.0 International License. Read Full License Version of Record: A version of this preprint was published on October 27th, 2020. See the published version at https://doi.org/10.1186/s13002-020-00420-1. Page 1/35 Abstract Background: Dai, Hani, and Yao people, in the trans-boundary region between China, Laos, and Vietnam, have gathered plentiful traditional knowledge about wild edible plants during their long history of understanding and using natural resources. The ecologically rich environment and the multi-ethnic integration provide a valuable foundation and driving force for high biodiversity and cultural diversity in this region. -
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, -
The Journal of Gemmology Editor: Dr R.R
he Journa TGemmolog Volume 25 No. 8 October 1997 The Gemmological Association and Gem Testing Laboratory of Great Britain Gemmological Association and Gem Testing Laboratory of Great Britain 27 Greville Street, London Eel N SSU Tel: 0171 404 1134 Fax: 0171 404 8843 e-mail: [email protected] Website: www.gagtl.ac.uklgagtl President: Professor R.A. Howie Vice-Presidents: LM. Bruton, Af'. ram, D.C. Kent, R.K. Mitchell Honorary Fellows: R.A. Howie, R.T. Liddicoat Inr, K. Nassau Honorary Life Members: D.). Callaghan, LA. lobbins, H. Tillander Council of Management: C.R. Cavey, T.]. Davidson, N.W. Decks, R.R. Harding, I. Thomson, V.P. Watson Members' Council: Aj. Allnutt, P. Dwyer-Hickey, R. fuller, l. Greatwood. B. jackson, J. Kessler, j. Monnickendam, L. Music, l.B. Nelson, P.G. Read, R. Shepherd, C.H. VVinter Branch Chairmen: Midlands - C.M. Green, North West - I. Knight, Scottish - B. jackson Examiners: A.j. Allnutt, M.Sc., Ph.D., leA, S.M. Anderson, B.Se. (Hons), I-CA, L. Bartlett, 13.Se, .'vI.phil., I-G/\' DCi\, E.M. Bruton, FGA, DC/\, c.~. Cavey, FGA, S. Coelho, B.Se, I-G,\' DGt\, Prof. A.T. Collins, B.Sc, Ph.D, A.G. Good, FGA, f1GA, Cj.E. Halt B.Sc. (Hons), FGr\, G.M. Howe, FG,'\, oo-, G.H. jones, B.Se, PhD., FCA, M. Newton, B.Se, D.PhiL, H.L. Plumb, B.Sc., ICA, DCA, R.D. Ross, B.5e, I-GA, DGA, P..A.. Sadler, 13.5c., IGA, DCA, E. Stern, I'GA, DC/\, Prof. I. -
Athletics Result D3A3 2011-2012
Inter-School Athletics Championships 2011/2012 HK Island & Kowloon Division Three (Area 3) Final Results Boys A Grade 100m 200m 1 Hui Lap Kei PLKCHYT 11.59 1 Ellison Max Lawrence RS 24.13 2 Mak Ting Hei HKUGA 11.67 2 Ng Kar Wang Frederick YCKMC-2 24.47 3 Ng Tsz Fai IKTMC 11.86 3 Lau Ko Fai BHSC 24.72 4 Lau Ko Fai BHSC 11.90 4 Lam Ho Tsun HKSS 24.73 5 Ng Kar Wang FrederickYCKMC-2 11.96 5 Su Zhi Kai PLKCHYT 24.76 6 Chan Chi Keung WKIU 12.13 6 Rana Asaf Feroz IKTMC 25.03 7 Ellison Max Lawrence RS 12.17 7 Ng Tsz Fai IKTMC 25.12 8 Lam Wai Ho WKIU 12.42 400m 800m 1 To Lok Yiu UCC-KE 54.42 1 Cheung Hok Yin PYSS 2 : 13.46 2 Rana Asaf Feroz IKTMC 55.32 2 So Po Sang TVGSS 2 : 15.60 3 Ngai Wing Sing TKPS 55.55 3 Li Chung Hin LSTWCM 2 : 16.76 4 Tam Chi Wai Lesile GTEYC 56.06 4 Lam Kwok Wing SKHKH 2 : 18.27 5 Wong Tsz Fung SKHKH 56.33 5 Wan Shun Hung UCC-KE 2 : 18.83 6 Tsoi Ho Shun Norris SKHTKP 58.28 6 Ng Ka Wing PLKCHYT 2 : 19.84 7 Ma Siu Hei Winston SKHLMC 58.51 7 Chow Pik Yu HS 2 : 21.86 8 Li Lok Hang RS 1 : 0.28 8 Ma Siu Hei Winston SKHLMC 2 : 21.89 1500m 5000m 1 Luk Chok Yan PLKCHYT 4 : 37.67 1 Luk Chok Yan PLKCHYT 17 : 36.62 2 Choy Shing Hei UCC-KE 4 : 47.55 2 Wong Tin Yuet TKPS 18 : 48.63 3 Chiu Ting Hin KLC 4 : 51.74 3 Choy Shing Hei UCC-KE 18 : 49.03 4 Chan Yu Hin GTEYC 4 : 51.78 4 Chan Yu Hin GTEYC 19 : 8.80 5 Ng Ka Wing PLKCHYT 4 : 57.63 5 Lau Cheuk Hei HKSS 19 : 31.30 6 Chu Long San Elvis HKUGA 4 : 58.66 6 Wong Kam Yeung WKC 20 : 41.89 7 Chan For Fan TKPS 4 : 59.34 7 Chan Chun Wing SKHKH 20 : 43.13 8 Lau Cheuk Hei HKSS 4 : 59.63 8 Poon -
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. -
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. -
Football Development in Hong Kong ‘We Are Hong Kong’ – Dare to Dream a Final Report December 2009
Football Development in Hong Kong ‘We are Hong Kong’ – Dare to Dream A Final Report December 2009 Part of the Scott Wilson Group Football Development in Hong Kong Table of Contents 1 Executive Summary 01 2 Introduction and Context 11 3 International Case Studies 20 4 Structure and Governance of Football in Hong Kong 43 5 Football Facilities 51 6 Football Development – Community to Elite 57 7 Other Key Issues 67 8 Developing and Delivering a Strategic Vision for Football in Hong Kong 71 9 Summary and Way Forward 115 D124955 – FINAL REPORT Version 1 – December 2009 Football Development in Hong Kong Table of Appendices 1 List of Consultees 2 Site Visits Undertaken 2a Sample of Site Visits 3 AFC Assessment of Member Associations 4 Hong Kong Natural Turf Pitches 5 Hong Kong Artificial Turf Pitches 6 Proposed Home Grounds for Hong Kong Professional League 7 Playing Pitch Strategy, Model and Overview 8 Hong Kong Football Association First Division Teams 9 Everton Football Club and South Korea Training Centre Examples 10 FIFA Big Count Statistics 2006 11 National Football Training Centre – Outline Proposals Section 1 Executive Summary www.scottwilson.com www.strategicleisure.co.uk 1 Football Development in Hong Kong 1 Executive Summary Introduction 1.1 Football matters! The link between success in international sport and the ‘mood’ and ‘productivity’ of a nation has long been recognised. Similarly there is sufficient evidence to demonstrate a direct link between participation in sport and the physical and mental health of the individual, the cohesiveness of communities and the prosperity of society as a whole. -
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 -
Robust Collusion with Private Information*
Robust collusion with private information* David A. Miller UCSD† May , Accepted for publication in the Review of Economic Studies Abstract e game-theoretic literature on collusion has been hard pressed to explain why a cartel should engage in price wars, without resorting to either impatience, symmetry restrictions, inability to communicate, or failure to optimize. is paper introduces a new explanation that relies on none of these assumptions: if the cartel’s member rms have private information about their costs, price wars can be optimal in the face of complexity. Specically, equilib- ria that are robust to payoff-irrelevant disruptions of the information environment generically cannot attain or approximate efficiency. An optimal robust equilibrium must allocate market shares inefficiently, and may call for price wars under certain conditions. For a two-rm car- tel, cost interdependence is a sufficient condition for price wars to arise in an optimal robust equilibrium. at optimal equilibria are inefficient generically applies not only to collusion games, but also to the entire separable payoff environment (Chung and Ely )—a class that includes most typical economic models. Keywords: Collusion, price wars, private information, repeated games, mechanism design, ex post incentive compatibility. JEL Classications: C, C, D, L. *Previous working versions of this paper were titled “Optimal ex post incentive compatible equilibria in repeated games of private information” and “e dynamic cost of ex post incentive compatibility in repeated games of private information.” †Address: Department of Economics, Gilman Dr., La Jolla, CA –. E-mail: [email protected]. Home page: http://dss.ucsd.edu/~dmiller. I am deeply grateful to Susan Athey for advice and comments, and am indebted to Bruno Biais and several anonymous referees for excellent critiques and suggestions. -
Uvic Thesis Template
A People’s Director: Jia Zhangke’s Cinematic Style by Yaxi Luo Bachelor of Arts, Sichuan University, 2014 A Thesis Submitted in Partial Fulfillment of the Requirements for the Degree of MASTER OF ARTS in the Department of Pacific and Asian Studies Yaxi Luo, 2017 University of Victoria All rights reserved. This thesis may not be reproduced in whole or in part, by photocopy or other means, without the permission of the author. ii Supervisory Committee A People’s Director: Jia Zhangke’s Cinematic Style by Yaxi Luo Bachelor of Arts, Sichuan University, 2014 Supervisory Committee Dr. Richard King, (Department of Pacific and Asian Studies) Supervisor Dr. Michael Bodden, (Department of Pacific and Asian Studies) Departmental Member iii Abstract Supervisory Committee Dr. Richard King, (Department of Pacific and Asian Studies) Supervisor Dr. Michael Bodden, (Department of Pacific and Asian Studies) Departmental Member ABSTRACT As a leading figure of “The Six Generation” directors, Jia Zhangke’s films focus on reality of contemporary Chinese society, and record the lives of people who were left behind after the country’s urbanization process. He depicts a lot of characters who struggle with their lives, and he works to explore one common question throughout all of his films: “where do I belong?” Jia Zhangke uses unique filmmaking techniques in order to emphasize the feelings of people losing their sense of home. In this thesis, I am going to analyze his cinematic style from three perspectives: photography, musical scores and metaphors. In each chapter, I will use one film as the main subject of discussion and reference other films to complement my analysis.