Based on the theoretical literature of fiscal decentralization, we discuss the political economy of inter-governmental fiscal arrangements in China and examine how a transfer-based decentralization impacts on local public employment. A theoretical model is built to show that compared to their...

The real-time availability of several satellite-based precipitation products has recently provided hydrologists with an unprecedented opportunity to improve current hydrologic prediction capability for vast river basins, particularly for ungauged regions. However, the accuracy of real-time...

By analyzing the evolution of local governments' roles in different periods of China's growth in transition, this paper explores local fiscal incentives to use subsidized land and infrastructure as a key instrument in regional competition for manufacturing investment after the mid-1990s. We...

Given the continuing interest concerning both the use of case studies and learning styles in accounting education, the recent papers by Adler, R., Whiting, R.H. and Wynn-Williams, K. (2004), and Wynn-Williams, K., Whiting, R.H. and Adler, A. (2008) in this journal are to be welcomed. They both...

This study draws on the exchange relationships literature to create a model of what motivates corporate customers to continue their relationships with their primary banking services providers. The study reports the results of a questionnaire survey administered to financial managers (<italic>N</italic> = 259)...

In the present study, copper vanadium phosphate (CuVOP) with three-dimensional network structure was synthesized by hydrothermal method, and was characterized by Infrared spectrum (IR), elemental analysis (EA), EDXRF (energy dispersive X ray fluorescence) etc. Moreover, soybean oil was used as...

This paper investigates a mixed regular-singular stochastic control problem where the drift of the dynamics is quadratic in the regular control variable. More importantly, the regular control variable is constrained. The value function of the problem is derived in closed form via solving the...

A simple graphical model for correlated defaults is proposed, with explicit formulas for the loss distribution. Algebraic geometry techniques are employed to show that this model is well posed for default dependence: it represents any given marginal distribution for single firms and pairwise...

Let $(X_t)_{t\ge0}$ be a continuous-time, time-homogeneous strong Markov process with possible jumps and let $\tau$ be its first hitting time of a Borel subset of the state space. Suppose $X$ is sampled at random times and suppose also that $X$ has not hit the Borel set by time $t$. What is the...