How different political market structures influence the behaviors of participants and the distribution of benefits was studied n the framework of game theory. Theoretical model showed that in the monopolized political market, the participation surplus of participants would serve as the rents of...

From the perspective of labor division and specialization, we explained the human capital attributes of language, and pointed out the human capital was depended on the acquisition of specialized organizational language which is the standard code system in the process of organizational...

This paper builds an inter-temporal model to study the value and network effects in the process of currency substitution. According to our model, we can define the inaction area and malignant area by taking real interest rate difference and network effect variable as two axes. We also find that...

A wide range of financial distress has emerged in Chinese higher education sector, and this paper aims to explain it. We pointed out that soft budget constraint is the root cause of the financial distress; our main tasks are to identify the institutional causality of soft budget constraint and...

In term of time and space, economic changes are non-ergodic, reform speed and equilibrium is determined by the characteristics of time and space. The great achievements of China's gradual reforms are by no means accidental, time-space dependence and non-ergodic economic changes is consistent...

In the process of non-ergodic economic changes, path dependence and state dependence will become two main constraints of reform; this dependence determined the embeddeded structure of reform and its evolution. This article refined a theoretical framework for analysis reform on the...

Intrinsically trustworthy agents never cheat. A society's willingness to trust and the quality of its institutions have their origins in the intrinsic trustworthiness of its citizens. Trustworthiness is the basis for maximizing output in economic exchange and in explaining differences in...

The instrumental variables strategy is commonly employed in empirical research. For correct inference using this econometric technique, the instruments must be perfectly exogenous and relevant. In fact, the standard t-ratio test statistic used in this context yields unreliable and often...

This paper introduces endogenous capital income tax rates as in Schmitt-Grohe and Uribe (1997), into the overlapping generations model with endogenous labor and consumption in both periods of life (e.g., Cazzavillan and Pintus, 2004). In contrast with the previous result that the existence of...

Israel’s policies regarding Lebanon have been dependent on public opinion, which is very volatile. The citizens of Israel did not favor the occupation of the security zone in South Lebanon because of the Four Mothers movement, and it influenced the government to withdraw military forces...