Estimation of nonseparable models with censored dependent variables and endogenous regressors

In this article we develop a nonparametric estimator for the local average response of a censored dependent variable to endogenous regressors in a nonseparable model where the unobservable error term is not restricted to be scalar and where the nonseparable function need not be monotone in the unobservables. We formalize the identification argument put forward in Altonji, Ichimura, and Otsu (2012 Altonji, J. G., Ichimura, H., Otsu, T. (2012). Estimating derivatives in nonseparable models with limited dependent variables. Econometrica 80:1701–1719.[Crossref], [Web of Science ®] , [Google Scholar]), construct a nonparametric estimator, characterize its asymptotic property, and conduct a Monte Carlo investigation to study its small sample properties. Identification is constructive and is achieved through a control function approach. We show that the estimator is consistent and asymptotically normally distributed. The Monte Carlo results are encouraging.     

Symbolic Compliance and Student Concerns: Legal Endogeneity and Title IX at American Colleges and Universities

This article considers how American colleges and universities responded to rapid legal change around Title IX immediately following the 2011 release of the Office for Civil Rights’ Dear Colleague Letter. By analyzing the content of 250 campus sexual harassment policies, this article finds that contrary to the predictions of the employment discrimination literature, which suggests that the largest, most visible institutions in a field are the most likely to embed markers of symbolic compliance in their formal policies, small baccalaureate colleges are more likely to include references to the law in their formal documents than their research university peers do. To understand this intriguing finding, the article then analyzes 15 interviews with campus administrators at research universities and baccalaureate colleges to uncover the distinct logics of symbolic compliance and student concerns that differentially inform how actors at different kinds of institutions inhabit their roles and endogenously interpret new Title IX regulations in their formal policies and campus practices. In doing so, this article illuminates the ways in which processes of legal endogeneity differ across institution types within the broader field of higher education.     

失业与通货膨胀的跨期替代——评2006年诺奖得主埃德蒙•费尔普斯的学术贡献

作为一名杰出的经济学家,2006年诺贝尔经济学奖得主埃德蒙·费尔普斯的一个重要学术贡献体现在对失业与通货膨胀方面的创新性分析上,包括建立“孤岛模型”,对菲利普斯曲线的修正以及自然失业率的提出等。他的理论研究加深了人们对于通货膨胀和失业之间的跨期替代关系的认识,并对经济学研究和经济决策产生了决定性的影响。     

中国特色社会主义制度伦理的内生性

制度伦理的内生性包括空间上的内生性和内容上的内生性两个方面:其空间上的内生性指的是制度伦理内生于特定社会形态或者特定国家;其内容上的内生性指的是制度伦理内生于制度,表明特定制度与其相应制度伦理具有内在一体性。社会发展的需要、社会主义制度与资本主义制度的不同以及中国特色社会主义社会实践的创新,共同要求中国特色社会主义制度伦理必须内生,不可照搬任何国家的制度伦理。由于制度既包括内容又包括形式,因此,中国特色社会主义制度伦理应该是同时有关二者的伦理。制度与公共生活具有内在相关性,表明公共生活是中国特色社会主义制度伦理内生的根基。由于公共生活包括"为了什么"或者"做什么"和"如何做"两大方面,前者与公共生活的实质价值有关,后者则与公共生活的程序价值有关,因此,中国特色社会主义制度伦理应该既有实质伦理又有程序伦理。该制度伦理是适应中国特色社会主义公共生活实践的需要而内生的,必定具有相应的实践价值。     

Individual and Household Values of Mortality Reductions with Intrahousehold Bargaining

I derive alternative measures of maximum willingness to pay (WTP) and value of statistical life (VSL) for selfish members of two-person households who bargain efficiently over consumption of individual and household goods. There is then no systematic bias in letting one member conduct the valuation on behalf of the household. Public-good VSL may exceed private-good VSL when each member attaches (selfish) preferences to survival of the spouse, and to any income from a surviving spouse in period 2. When period 2 is a retirement period and household members’ incomes are fixed, interview surveys tend to overvalue VSL due to ignored negative effects of own survival on private of public pension budgets.JEL Classification: I12, G22, J17     

Estimating the Technology of Cognitive and Noncognitive Skill Formation

This paper formulates and estimates multistage production functions for children's cognitive and noncognitive skills. Skills are determined by parental environments and investments at different stages of childhood. We estimate the elasticity of substitution between investments in one period and stocks of skills in that period to assess the benefits of early investment in children compared to later remediation. We establish nonparametric identification of a general class of production technologies based on nonlinear factor models with endogenous inputs. A by‐product of our approach is a framework for evaluating childhood and schooling interventions that does not rely on arbitrarily scaled test scores as outputs and recognizes the differential effects of the same bundle of skills in different tasks. Using the estimated technology, we determine optimal targeting of interventions to children with different parental and personal birth endowments. Substitutability decreases in later stages of the life cycle in the production of cognitive skills. It is roughly constant across stages of the life cycle in the production of noncognitive skills. This finding has important implications for the design of policies that target the disadvantaged. For most configurations of disadvantage it is optimal to invest relatively more in the early stages of childhood than in later stages.     

生产环节外包能否助力中国粮食安全？——来自粮食主产区的证据

在中国大力扶持和推进生产环节外包服务业发展的现实背景下,系统评估生产环节外包对中国粮食安全的影响具有重要的现实意义。聚焦粮食安全数量目标与环境目标两个维度,从农户是否参与外包、农户的外包横向参与度与农户的外包纵深参与度三个层面,理论剖析生产环节外包影响中国粮食安全的逻辑机理,并使用中国粮食主产区1211户农户的抽样调查数据和CMP方法进行实证检验。研究发现：①从三大主粮的总体估计来看,生产环节外包有助于中国粮食安全数量目标的实现,但不利于中国粮食安全环境目标的达成。在解决潜在的内生性问题后,这一结论依然成立;②从玉米、小麦和水稻的分样本估计来看,生产环节外包对中国粮食安全的多维影响在玉米和水稻生产中仍较为稳健,但对小麦的增产效果并不明显;从黑龙江、河南和湖南的分样本估计来看,生产环节外包对中国粮食安全的多维影响在三大粮食主产省均较为稳健。目前,从服务视角破解资源环境约束与农户行为约束暂未成为解决中国粮食安全环境问题的有效途径,仍需进一步推动生产环节外包服务市场的发育与完善,鼓励并引导外包供给主体的绿色生产导向。     

Discrete–Time Approximations of the Holmström–Milgrom Brownian–Motion Model of Intertemporal Incentive Provision

This paper studies the relation between discrete–time and continuous–time principal–agent models. We derive the continuous–time model as a limit of discrete–time models with ever shorter periods and show that optimal incentive schemes in the discrete–time models approximate the optimal incentive scheme in the continuous model, which is linear in accounts. Under the additional assumption that the principal observes only cumulative total profits at the end and the agent can destroy profits unnoticed, an incentive scheme that is linear in total profits is shown to be approximately optimal in the discrete–time model when the length of the period is small.     

福建省农村居民跨期消费区域比较分析——基于泉州、福州、南平三市的实证调研

消费、投资、出口是拉动经济增长的"三架马车",积极扩大内需,尤其是增加农村居民的消费需求是转变经济发展方式、促进经济平稳较快发展的重要举措。近年来,随着物价的上涨,居民的通胀预期不断加深,严重地制约了居民的消费需求,影响了居民的跨期消费行为。在此背景下,通过对福建省泉州、福州、南平三地的实证调研,结合生命周期理论及数理模型,比较分析三地农村居民跨期消费行为的共性与差异性,据此探讨形成其消费行为差异的原因,并提出提高收入、淡化通胀预期等对策建议。     

股权结构与公司绩效关系文献综述——以一个内生的视角分析

股权结构与公司绩效的理论有代理成本、信息不对称、管理者堑壕、大股东掏空与股权结构内生假设,经过实证研究,其结果存在较大的分歧,各种结果都有理论支持,越来越多的文献发现股权结构与公司绩效是内生决定的,国内关于股权结构内生性的文章刚刚开始,不管是理论机理还是实证方法都需要进一步研究。