In community planning, due to the lack of evidence regarding the selection of media tools, this study examines how a common but differentiated ideal speech situation can be created as well as how more appropriate media tools can be defined and selected in the community planning process. First,...

AbstractsWe examine how bilateral currency swap arrangements (BSAs) conducted by the People’s Bank of China affects bilateral exchange rate volatility from 2009 to 2019. Applying an intervention analysis based on model-selection approach, we find 21 (16) significant (negative) effects out of...

What configuration of asset returns will make the banking system most susceptible to a self-fulfilling run? I study this question in a version of the model of Diamond and Dybvig (1983) with limited commitment and a non-trivial portfolio choice. I show that the relationship between the returns on...

We study a Bayesian learning model with heterogeneity in which the agents control both short-term manipulations and long-term efforts aimed at solving the optimal contract in dynamic environments. At the same time, considering the dynamic characteristics of contracts, the paper considers the...

We consider a general framework of optimal contract design under the heterogeneity and short-termism of agents. Our research shows that the optimal contract must weigh the agent's information rent, incentive cost, and benefit to overcome the contract's adverse selection and moral hazards. Agents...

Based on the principal-agent model, the continuous time optimal contract with asymmetric information is studied in the case of competition, cooperation, and neutrality between two agents, and the optimal behavior selection and incentive mechanism of agents are analyzed. The results show that the...