We investigate monetary policy under the assumption that a country's capital market is "open" under the WTO framework while the exchange rate is fixed. Our purpose is to determine if it is possible in this case for the economy to maintain an effective monetary policy for stabilizing the domestic...

We develop a Markov Chain Monte Carlo algorithm for estimating nested logit models in a Bayesian framework. Appropriate "heating target" and reparametrization techniques are adopted for fast mixing. For illustrative purposes, we have implemented the algorithm on two real-life examples involving...

With increasing demand for green growth globally, the escalating economic growth of China is also needed to be accompanied with environmental protection. From an environmental upgrading perspective, current study developed a nexus amid Green Total Factor Energy Productivity (GTFEP), Economic...

This paper presents an extension to the empirical research of Fritsch and Mueller (2008) investigating how entrepreneurial activity affects employment in China’s private economy. Both static and dynamic effects are analyzed using data from 31 Chinese provinces during the 2000 to 2008 period....

Many consumers have learned to delay purchases, anticipating that prices might decrease. Such strategic or forward-looking behavior has attracted increasing attention from various disciplines, including operations management, information systems, marketing, and economics. However, there is...

Competition has become an important theme in the operations management literature and, according to recent theoretical and empirical work, the key finding is that firms tend to overstock or overproduce under competition. Following this prediction, one would expect that, after airlines start a...

The big data revolution is making vast amounts of information available in all sectors of the economy including health care. One important type of data that is particularly relevant to medicine is observational data from actual practice. In comparison to experimental data from clinical studies,...

This study addresses three important questions concerning personalized health care: (1) Are outcome differences between hospitals heterogeneous across patients? (2) If they are, how valuable is patient-centric information (that accounts for heterogeneity) to patients in selecting a hospital? and...