治理的发轫与嬗变：中国历史视野下的考察

国内学术界一般以西方学术发展史作为背景，把治理作为一种社会互动来进行研究。中国历史视野下的治理，发轫于中国社会生活，其内涵最初主要是为了获取生存资料，即有收成才能够形成秩序也就是治理。从“乂”这个象形文字来看，乂就是治理，其原意为“收割”。不过，围绕生存资料的生产和分配逐渐产生了更加丰富的社会权力关系，而巩固和拓展这种权力关系则使得构筑更加严格的秩序成为必然。神秘感是构筑秩序的重要依据，而赋予仪式以神秘感的则是觋、巫等知识群体，他们将天、帝、王、人通过仪式联系在一起，建构起一套以礼为基础的秩序。但是，西周末年，觋、巫的神秘感被世俗的君权摧毁以后，“君臣秩序”以及由此构筑起来的社会秩序都被颠覆，从而导致“君臣之礼既坏”和“礼坏乐崩”的情形。“以智力相雄长”不仅表现在王室内部、诸侯之间、社会层面上，而且也表现在知识分子身上。从此以后，士绝大多数以追逐爵禄而骄天下为荣，以至于两千多年来一直存在“士贱而君肆”的情形。“君士互动”的治理模式，正是随着神秘主义的礼的崩溃而崩溃的。     

货币政策反应函数渠道对金融周期影响时变机制的实证研究

在关于货币政策影响经济主体风险承担水平,进而影响金融周期波动机制的研究中,基于风险承担渠道的相关研究较为成熟.区别于以往相关研究多关注货币政策实际采取的立场,文章基于货币政策反应函数渠道探讨了数量型与价格型货币政策反应函数对金融周期波动影响的时变机制.滚动回归的实证结果显示:无论数量型货币政策规则还是价格型货币政策规则,货币政策对信贷波动反应的敏感性主要影响金融周期的波动,但在价格型货币政策规则下,基于信贷视角观察金融周期波动时,货币政策信贷敏感性与货币政策资产价格敏感性对金融周期影响差异较小;较之于价格型货币政策规则,货币政策对信贷波动反应的敏感性在数量型货币政策规则下,对金融周期波动的影响更显著,并在一定程度上表现出随时间扩大的趋势.文章的创新之处在于:强调了货币政策通过政策反应函数渠道而非以往研究中较多关注的狭义风险承担渠道影响金融周期波动的事实,并构建计量模型对货币政策反应函数渠道影响金融周期波动的时变机制进行了详细刻画.     

On the power of goodness-of-fit tests for the exponential distribution under progressive Type-II censoring

The aim of this article is to review existing goodness-of-fit tests for the exponential distribution under progressive Type-II censoring and to provide some new ideas and adjustments. In particular, we consider two-parameter exponentially distributed random variables and adapt the proposed test procedures to our scenario if necessary. Then, we compare their power by an extensive simulation study. Furthermore, we propose five new test procedures that provide reasonable alternatives to those already known.     

Some count-based nonparametric tests for circular symmetry of a bivariate distribution

In this paper, we revisit the problem of testing of the hypothesis of circular symmetry of a bivariate distribution. We propose some nonparametric tests based on sector counts. These include tests based on chi-square goodness-of-fit test, the classical likelihood ratio, mean deviation, and the range. The proposed tests are easy to implement and the exact null distributions for small sample sizes of the test statistics are obtained. Two examples with small and large data sets are given to illustrate the application of the tests proposed. For small and moderate sample sizes, the performances of the proposed tests are evaluated using empirical powers (empirical sizes are also reported). Also, we evaluate the performance of these count-based tests with adaptations of several well-known tests such as the Kolmogorov–Smirnov-type tests, tests based on kernel density estimator, and the Wilcoxon-type tests. It is observed that among the count-based tests the likelihood ratio test performs better.     

影子银行、地方政府债务及金融发展动态关系研究——基于省级面板VAR模型

基于2004—2017年中国省级面板数据,运用面板向量自回归(PVAR)模型,使用系统GMM估计、脉冲响应函数、方差分解以及格兰杰因果关系检验等方法分析了影子银行、地方政府债务及金融发展之间的动态关系.结果表明:影子银行、地方政府债务与金融发展水平三者之间存在动态耦合关系.在地方政府融资能力受到约束的情况下,影子银行为地方政府提供了多元的融资方式,在增加政府融资能力的同时提升了政府债务水平;而地方政府债务需求显著推动了影子银行规模的快速发展.同时,影子银行过度扩张危害了金融市场的健康发展,降低金融发展水平,继而使地方政府的融资渠道受到约束.但金融发展并不能有效约束影子银行规模,原因在于,政府融资需求是影子银行的主要动力,若不能控制地方政府的借贷行为则无法从源头解决问题.监管机构在去杠杆的过程中,应该综合考虑影子银行与地方政府债务、金融发展之间的动态关系,如此才能够实现预期的政策效果.     

Giving (Money) Back To Parents: Racial/Ethnic and Immigrant–Native Variation in Monetary Exchanges During the Transition to Adulthood

Scholars consistently find that parents provide economic support to their young adult children through the transition to adulthood. However, scholars rarely examine whether young adults contribute monetary resources to their parents. To test this proposition, I use the National Longitudinal Study of Adolescent to Adult Health, and the case of “money for living expenses.” Overall, monetary independence is the modal category for all groups. However, when I compare across groups, I find that White young adults with native-born parentage are more likely to report monetary independence, African Americans are more likely to report monetary interdependence and Asian and Latino children of immigrants are more likely to report child-to-parent assistance compared to each other, with SES explaining most, but not all, of these differences. I argue that young adult offspring in non-White families are more likely to provide monetary support to their parents during the transition to adulthood. These transfers may deplete resources for non-White young adults and may exacerbate racial/ethnic inequality during the transition to adulthood.     

Employee financial wellness programs: Opportunities to promote financial inclusion?

ABSTRACT

Employee financial wellness programs (EFWPs) are a new practice that may promote financial inclusion by making it easier for workers with low- and moderate-incomes (LMI) to access financial services. We examine the strengths and limitations of workplace financial counseling, credit-building services, and small-dollar loans, and describe community collaboration to promote employee financial wellness. Findings suggest that these services are reaching a population that experiences financial exclusion, though evidence is mixed concerning how these services help workers with LMI resolve key financial challenges. Community collaboration focused on employee financial wellness presents opportunities to advocate for higher wages and better benefits.     

The Leverage of Protest: Market,Media, and Reputational Disruption in Social Movement Success

How do social movements gain concessions from large corporations? The ability of protests to attain leverage by imposing disruption costs on their targets is widely assumed but less often tested. In this article, we assess the ability of protests to attain concessions by disrupting three broad sources of interest to firm officials: maximizing shareholder value, gaining positive media, and fostering a well-reputed image. In contrast to the body of research on the benefits to movements from shaping media discourses and damaging the reputations of their targets, we find that only market disruption provides protests with leverage. We show this through statistical analyses of an original database of protests against large corporations in the United States over five years, 2005–2009. This study advances social movement and organizational research by demonstrating the ways in which the interests of large corporations provide insurgents with means of attaining leverage over their targets. It also speaks to the broad debate over the importance of disrupting the material versus symbolic interests of movement targets. Our results suggest that when it comes to obtaining concessions from large corporations, it is material disruption and not symbolic disruption that provides movements with leverage.