A spatial latent class analysis model that extends the classic latent class analysis model by adding spatial structure to the latent class distribution through the use of the multinomial probit model is introduced. Linear combinations of independent Gaussian spatial processes are used to develop...

This paper studies the long-run welfare effect of the extra volatility of country spread due to the possibility of sudden stops. Both analytical and numerical results show that sudden stops have weaker output impact when the small open economy is more open to trade. However, welfare consequences...

This is the first paper in the literature to match key business cycle moments and long-run equity returns in a small open economy with production. These results are achieved by introducing three modications to a standard real business cycle model: (1) borrowing and lending costs are imposed to...

As one of the most important regions selected for jatropha biodiesel industry in Southwest China, Panzhihua has received very high and optimistic expectations. However, current situation suggests that jatropha in Panzhihua has not changed local energy scenario and the industry has been...

From the perspective of institutional analysis, this paper evaluates the place-remaking process of Niucheshui in Singapore. It is found that the redevelopment of Niucheshui since the 1960s has been substantively shaped by the property rights regime over land and buildings. As property rights are...

This paper studies the aspiration-based learning dynamics in symmetric normal-form games played at multiple locations. In particular, the aspiration level in one location is linked to the average performances of players in observable locations. With a decentralized information structure, the...

Water management is important for improving the performance and stability of proton exchange membrane fuel cells (PEMFCs) for space applications. An in situ visual observation was conducted on the gas–liquid two-phase flow in the cathode channels of a PEMFC in short-term microgravity...

In this study, experiments of single-file pedestrian movement were conducted and the movement parameters of pedestrians were extracted with a digital image processing method based on a mean-shift algorithm. The microscopic characteristics of pedestrian dynamics, including velocity, density, and...