Examined from a historical perspective, China's joining the World Trade Organization (WTO) can be regarded as a continuation and deepening of China's twenty-year-long process of reform and opening up to the outside world. Today, the results and accomplishments of reform and opening up are...

China's entrance into the World Trade Organization (WTO) signifies that China is making direct connections with the international market economy, blending into the great circle of the international economy at large, and thus becoming part of economic globalization as a whole. Yet, in reality,...

While aggregate earnings should affect aggregate stock returns, standard portfolio theory predicts that the cross-sectional dispersion in firm-level earnings per se would not affect aggregate stock returns. Nonetheless, this paper documents that cross-sectional earnings dispersion is positively...

This paper examines the performance of prediction intervals based on bootstrap for threshold autoregressive models. We consider four bootstrap methods to account for the variability of estimates, correct the small-sample bias of autoregressive coefficients and allow for heterogeneous errors....

The proposed low-temperature solar thermal electric generation is based on the compound parabolic concentrator (CPC) of small concentration ratio and Organic Rankine Cycle (ORC). The technologies of CPC and ORC are analyzed, and feasibility of the system is demonstrated. In particular, two-stage...