This paper studies the general behavior of the nominal and real term structures of interest rates in a general equilibrium framework. A central bank is introduced in the model as an agent facing a tradeoff between inflation and output and choosing a monetary policy variable. Prices and output...

This paper proposes a statistical and econometric model to analyze the generators' bidding behavior in the NYISO day-ahead wholesale electricity market. The generator level bidding data show very strong persistence in generators' grouping choices over time. Using dynamic random effect ordered...

Using publicly available bidder level bids data for Transmission Congestion Contracts (TCCs) and the realized awards of TCCs in the NYISO monthly reconfiguration auctions from June 2000 to December 2004, we examine both market performance and bidders' bidding behavior in the auctions. The data...

Using worksite smoking ban as an instrumental variable for smoking, we examine the relationship between smoking and body weight in a two-stage least square estimation. We find evidence that reduced smoking may lead to the rising of obesity.

The inflation problem in China has attracted a great deal of international attention in recent years. This paper examines the time series properties of China's CPI series. It is found that the overall inflation series and the inflation of food, tobacco, clothes, urban transport and urban housing...

Controlled grafting of well-defined polymer brushes on the poly(vinylidene fluoride) (PVDF) films was carried out by the surface-initiated Atom Transfer Radical polymerization (ATRP). Surface-initiators were immobilized on the PVDF films by surface hydroxylation and esterification of the...

This paper proposes a non-radial Malmquist CO2 emission performance index (NMCPI) for measuring dynamic changes in total-factor CO2 emission performance over time. This index enables the consideration of non-radial slacks in the conventional Malmquist CO2 emission index (MCPI). The NMCPI is...

This study examines the determinants of farmers’ willingness to pay (WTP) and their payment levels for ecological compensation of the Poyang Lake Wetland in China. We developed a farmer household survey and gathered 292 effective responses. The contingent valuation method (CVM) and Heckman’s...

Recently, extensive empirical evidence shows that the timing of human behaviors obeys non-Possion statistics with heavy-tailed interevent time distribution. In this paper, we empirically study the correspondence pattern of a great Chinese scientist, named Hsue-Shen Tsien. Both the interevent...

Geothermal energy from hot dry rock (HDR), considered an almost inexhaustible source of “green” energy, was first developed and tested in the 1970s, leading to installations in America, Japan, Britain, France and other countries. In the present work, a liquating rock mass at a depth of...