This paper shows that optimal policy and consistent policy outcomes require the use of control-theory and game-theory solution techniques. While optimal policy and consistent policy often produce different outcomes even in a one-period model, we analyze consistent policy and its outcome in a...

The ratio, Penn effect and behavioral equilibrium exchange rate (BEER) are used to assess the level of the bilateral real exchange rate (RER) of the Chinese RMB against the US dollar in 1980–2012. The statistical indexes and economic meaning indicate that the findings from the BEER and ratio...

The ratio, Penn effect and behavioral equilibrium exchange rate (BEER) are used to assess the level of the bilateral real exchange rate of the Chinese RMB against the US dollar in 1980–2012. The statistical indexes and economic meaning indicate that the findings from the BEER and ratio models...

Co-training is a method for combining labeled and unlabeled data when examples can be thought of as containing two distinct sets of features. It has had a number of practical successes, yet previous theoretical analyses have needed very strong assumptions on the data that are unlikely to be...

In this paper, we investigate the finite sample performance of four kernel-based estimators that are currently available for additive non-parametric regression models—the classic backfitting estimator (CBE), the smooth backfitting estimator, the marginal integration estimator, and two versions...

Purpose – The purpose of this paper is to investigate the development of the grocery retail market in China. International retailers have been in China for more than ten years, during which period a series of profound changes has occurred in the Chinese retail sector. International retailers...