This paper relaxes the single-factor model of intergenerational educational mobility and analyzes heterogeneous effects of family background on children’s education in villages, with a focus on the role of nonfarm occupations. The analysis uses data from rural China that cover three...

This paper relaxes the single factor model of intergenerational educational mobility standard in the literature, and develops a research design to study the effects of parents' education and occupation on children's schooling. We use survey data from rural China that cover three generations and...

This paper presents evidence on intergenerational educational and occupational mobility in rural China over a period of 14 years (1988–2002). To understand whether the estimated inter-generational persistence can be driven solely by unobserved heterogeneity, biprobit sensitivity analysis and...

Facing electoral uncertainty, a government chooses its exchange regime in a trade-off among three incentives: (i) tying the hands of its opponent should it lose the election; (ii) facilitating its own future policy implementation should it win the election; and (iii) increasing its chance of...

Conventional wisdom has held that a fixed exchange rate regime induces more fiscal discipline, but Tornell and Velasco (1995, 1998) argue the opposite. Using a dynamic model with fragmented fiscal policymaking, this paper evaluates the two arguments in a single framework and shows that (1)...

We study whether more asymmetrically timely earnings constrain payouts to shareholders in the presence of bad news. Our goal is to provide evidence on the ex post contracting benefits of accounting conservatism. We distinguish between cash flow asymmetric timeliness and accrual asymmetric...

The paper evaluates the household- and community-level factors influencing women’s and men’s decisions to participate in off-farm activities, either in the off-farm labor market or in local community groups, and the relationship with on-farm crop returns. Results reveals female participation...

Ethnic minority areas are old revolutionary base areas, areas inhabited by ethnic minorities, remote areas, impoverished areas, and also difficult areas for construction of socialist harmonious society. Studying on factors influencing rural teacher flow in ethnic minority areas is of great...

The complexity of multivariate time series models increases dramatically when the number of component series increases. This is a phenomenon observed in both low- and high-frequency financial data analysis. In this paper, we develop a regularization framework for multivariate time series models...