Unlike the prediction of a frictionless open economy model, long-term average savings and investment rates are highly correlated across countries—a puzzle first identified by Feldstein and Horioka (1980). We quantitatively investigate the impact of two types of financial frictions on this...

This study proposes a multi-dimension, multi-contingent "fit" perspective for examining different practices adapted by entrepreneurial firms in acquiring human resources. We posit that while environmental constraints are important considerations for adapting recruitment practices through...

This paper develops a method for pricing bivariate contingent claims under General Autoregressive Conditionally Heteroskedastic (GARCH) process. As the association between the underlying assets may vary over time, the dynamic copula with time-varying parameter offers a better alternative to any...

The effects of Japanese yen's depreciation on Chinese exports in 2002 (only considering the exports of the Mainland of China) are analysed. An AR(2) valuation function for the Chinese exports is constructed. The results on sensitivity tests show that the depreciation of Japanese yen would not...

Though China is well along in restructuring its power markets, it still has some way to travel before economic considerations receive adequate weight in transmission planning decisions. Adoption of more sophisticated tools such as multi-agent modeling will help China continue in its progress in...

Businesses are increasingly aware of the power of mobile location-based services (LBS) in their success. For consumers, there are abundant options available. To understand the driving factors of consumers’ behavioral intention to use LBS and speak positively about LBS, a model of...

Small hydropower plants, which are one of most important means for producing clean energy, have a high prestige in the carbon trade market. In this paper, a method for accounting the carbon dioxide emission of small hydropower plants is proposed. Twenty-six small hydropower plants (SHPs) in...

We estimate productivities at the sector level for 72 countries and 5 decades, and examine how they evolve over time in both developed and developing countries. In both country groups, comparative advantage has become weaker: productivity grew systematically faster in sectors that were initially...