Bailouts: The lesser of two evils?

This paper investigates the relation between bailouts and regulation. Regulation, by limiting the room for government intervention in the market, can affect the likelihood and size of a bailout. While a higher level of regulation is associated with a lower likelihood of a direct acquisition, such countries resort to a higher use of State aid. The findings suggest the more transparent nature of direct acquisitions, makes them the lesser of two evils. In this light, policymakers should monitor State Aid and bailouts together, with the aim of making the former more transparent.     

Technological affluence and subjective well-being

This study measures the welfare effects of technological goods using a recent European pooled cross-sectional dataset. We find that fixed and mobile phones, music players and personal computers, including those with an Internet connection, are associated with significantly higher levels of well-being measured by individual self-reported life satisfaction. Further controlling for mobile and broadband country penetration levels, we provide evidence suggesting that the latter matters for life satisfaction, especially for the users who already possess the relevant devices. Keeping life satisfaction constant, we subsequently derive substantial GDP per capita estimates equivalent to a 10 percentage point increase in broadband and mobile phone penetration.     

On the determinants of public infrastructure spending in Chinese cities: A spatial econometric perspective

In the context of fiscal decentralization, we use cross-sectional data of 242 Chinese cities in 2005 to explore the major factors contributing to the decline of public investment. The main finding is that a city government appears to reduce its own infrastructure spending as a response to the rise of infrastructure spending of its neighboring cities, revealing evidence of positive spillover effects of public infrastructure expenditure. This paper contributes to the existing literature by providing a new perspective for understanding the decline in public investment. In addition, this paper sheds some light on the ongoing debate on the nature of government competition in China and has important implications for policy makers in making fiscal arrangements among government tiers in a decentralized economy.     

论威尔斯《托诺·邦盖》中的符号消费

H．G．威尔斯是英国爱德华时代最重要的小说家之一，《托诺·邦盖》是威尔斯社会讽刺小说的代表作。《托诺·邦盖》对消费社会中的商品泡沫问题表现得淋漓尽致，向读者展示了一个金钱迷恋和商品崇拜的时代，具体体现在：第一，激昂的广告语言和异化的消费心理促成商机，从而使“托诺·邦盖”这种假药行销成功；第二，资本新责爱德华为彰显其高贵地位而进行炫耀性消费，而出身卑微的玛丽恩则通过婚姻关系来换取奢华消费能力。     

The efficiency of government spending on health: Evidence from Europe and Central Asia

This paper uses data envelopment analysis (DEA) to evaluate health expenditures to demonstrate how productivity has changed over time for 46 selected countries in Europe and Central Asia. Our results show that countries could have increased output by 1.2% given the existing level of inputs. The patterns of efficiency change for the observed countries are further analyzed using the Malmquist productivity index (MPI). Decreased productivity growth is related to technical change. Finally, we regress efficiency scores on a set of environmental variables using a Tobit model. The positive influence of hospital beds and primary schooling on efficiency scores demonstrates that countries with better medical environments and a greater number of educational years may enjoy increased efficiency. In addition, there exists a regional effect between Europe and Central Asia.     

H.264在会议电视业务中的应用

本文首先介绍了会议电视业务的概念以及未来的发展方向,然后重点讲述了H.264图像压缩编码技术,对H.264技术优势进行介绍,并对H.264技术以及采用了H.264技术的会议电视业务未来的应用前景进行了分析.     

Implementation of maximin efficient designs in dose‐finding studies

This paper considers the maximin approach for designing clinical studies. A maximin efficient design maximizes the smallest efficiency when compared with a standard design, as the parameters vary in a specified subset of the parameter space. To specify this subset of parameters in a real situation, a four‐step procedure using elicitation based on expert opinions is proposed. Further, we describe why and how we extend the initially chosen subset of parameters to a much larger set in our procedure. By this procedure, the maximin approach becomes feasible for dose‐finding studies. Maximin efficient designs have shown to be numerically difficult to construct. However, a new algorithm, the H‐algorithm, considerably simplifies the construction of these designs. We exemplify the maximin efficient approach by considering a sigmoid Emax model describing a dose–response relationship and compare inferential precision with that obtained when using a uniform design. The design obtained is shown to be at least 15% more efficient than the uniform design. © 2014 The Authors. Pharmaceutical Statistics Published by John Wiley & Sons Ltd.     

ARTIFICIAL STATES

We define artificial states as those in which political borders do not coincide with a division of nationalities desired by the people on the ground. We propose and compute for most countries in the world two measures of the degree to which borders may be artificial. One measures how borders split ethnic groups into two separate adjacent countries. The other measures the straightness of land borders, under the assumption the straight land borders are more likely to be artificial. We then show that these two measures are correlated with several measures of political and economic success.