This paper estimates the effects on earnings of “gap years” between high school and university enrollment. The effect is estimated by means of standard earnings functions augmented to account for gap years and a rich set of control variables using administrative Swedish data. We find that...

We first review the literature on rural household energy consumption. China's household energy consumption is studied, based on a large household-energy survey. The consumption of fuels is determined by income, resource availability, household size, and coal prices. The feasibility of...

In this paper, in order to solve semismooth equations with box constraints, we present a class of smoothing SQP algorithms using the regularized-smooth techniques. The main difference of our algorithm from some related literature is that the correspondent objective function arising from the...

This paper serves to document and analyze the employment and the labor market changes in urban China since the late 1980s. High and sustained GDP growth rates in China have paradoxically been accompanied by increasing unemployment rates and decreasing labor force participation rates. Using...

For semi-infinite programming (SIP), we consider a class of smoothed penalty functions, which approximate the exact $$l_\rho (0\rho \le 1)$$ penalty functions. On base of the smoothed penalty function, we present a feasible penalty algorithm for solving SIP. Without any boundedness condition or...

For inequality constrained optimization problem, we show the existence of local saddle point of generalized augmented Lagrangian under weak second-order sufficient conditions which are weaker than the second-order sufficient conditions in the literature. We further discuss the existence of...

We consider dynamic pricing competition between two firms offering vertically differentiated products to strategic customers who are intertemporal utility maximizers. We show that price skimming arises as the unique pure-strategy Markov perfect equilibrium in the game under a simple condition....

For inequality constrained optimization problem, we show the existence of local saddle point of generalized augmented Lagrangian under weak second-order sufficient conditions which are weaker than the second-order sufficient conditions in the literature. We further discuss the existence of...

For semi-infinite programming (SIP), we consider a class of smoothed penalty functions, which approximate the exact <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$l_\rho (0\rho \le 1)$$</EquationSource> </InlineEquation> penalty functions. On base of the smoothed penalty function, we present a feasible penalty algorithm for solving SIP. Without any boundedness condition...</equationsource></inlineequation>

The article focuses on the leverage effect modeling as a form of stochastic processes through the volatility model. It states that leverage effect is characterized by a subsequent stock price dropping and increase in volatility. It mentions that the first model that describes the volatility and...