The general law of regional spatial evolution is researched. In the process of the evolution of four stages, namely the early stage of traditional agriculture and industrialization, the middle stage of industrialization, the later stage of industrialization and post-industrialization, the types...

The disastrous Wenchuan earthquake in 2008 claimed around 100 000 lives and caused direct economic losses of around RMB 845.1 billion. The tragedy has also led to accusations regarding poor or inadequate seismic resistant capabilities of buildings. Seismic rehabilitation, which includes...

This paper proposes a simple back testing procedure that is shown to dramatically improve a panel data model's ability to produce out of sample forecasts. Here the procedure is used to forecast mutual fund alphas. Using monthly data with an OLS model it has been difficult to consistently predict...

This article proposes a rational model to demonstrate that firm-specific risks can be priced in the equilibrium and can generate asset pricing anomalies such as momentum. In general, business risks at both the market level and firm level can affect a firm's investment decisions, and a firm...

To examine the blocking effect of transaction costs on household mobility, we construct a housing consumption model including transaction costs and adopt an analog simulation methodology, analyzing how changes in household income and home prices influence household consumption, savings decisions...

Several papers use a fractional specification (net inflow/ assets under management) to infer a convex relation between flow and past performance. However, heterogeneous linear response functions combined with the pooled analysis commonly used in these studies can yield false convexity estimates....

Do Chinese international construction and engineering contractors (ICEC) in Africa have any agency themselves, or are their strings tightly controlled by the Chinese state? Join Hong Zhang as she unpacks the role of ICECs in China's international economic relations – her findings based on...

Do Chinese international construction and engineering contractors (ICEC) in Africa have any agency themselves, or are their strings tightly controlled by the Chinese state? Join Hong Zhang as she unpacks the role of ICECs in China's international economic relations – her findings based on...

We hypothesize that poor country-level governance, which makes public information less reliable, induces fund managers to increase their use of semi-public information. Utilizing data from international mutual funds and stocks over the 2000-2009 period, we find that semi-public...