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	1. Sustainable Grain Production System for Smallholder Farmers: A Case Study of Land Shareholding Cooperatives in Chongzhou, Sichuan Province
	Zhang Shemei,Ding Ya
	Economics 17 December 2016
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	Abstract: China's sustainable food production has been increasingly challenged by resource bottlenecks and land institutional constraints during its rapid marches toward industrialization and urbanization. The small-scale peasant economy associated with the traditional Household Responsibility System is no longer suitable for agricultural mechanization and modernization. Innovative reform need to be made to existing land tenure system and food production system to achieve economies of scale and continuous improvement in agricultural productivity. In this paper, the authors introduce a sustainable food production system called "Chongzhou Mode", which is characterized by integration of Land Shareholding Cooperatives, Agricultural Professional Managers, and Rural Socialized Service System. The paper gives detailed descriptions and thorough analyses to "Chongzhou Model", including its practices, features, performance, existing problems and future directions. This study is expected to provide valuable information to researchers and policy makers concerning land reforms in agricultural sector of China, and also it could give insights to other developing countries with similar problems of grain production.
	TO cite this article:Zhang Shemei,Ding Ya. Sustainable Grain Production System for Smallholder Farmers: A Case Study of Land Shareholding Cooperatives in Chongzhou, Sichuan Province[OL].[17 December 2016] http://en.paper.edu.cn/en_releasepaper/content/4714058


	2. Estimation of Equilibrium Term Structure Models: EKF and UKF Based Approaches
	SU Yunpeng,YANG Baochen
	Economics 06 December 2016
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	Abstract:In a general framework, this paper introduces approaches of estimation for equilibrium models of term structure of interest rates based on the extended Kalman filter (hereafter EKF) and unscented Kalman filter (hereafter UKF). This paper treats the estimation of the equilibrium models as a nonlinear filtering problem, and adopts EKF and the UKF respectively to estimate the model via the maximum likelihood method. Using fourteen years of daily Canadian zero-coupon bond price data, we apply the estimator to Vasicek and Cox-Ingersoll-Ross models based on EKF and UKF respectively. It is found that the EKF-based algorithm offers generally the same performance with the UKF-based one in model estimation when the system is linear or weak linear and the Gaussian distribution assumption is satisfied. But when it comes to the strong nonlinear system with a non-Gaussian distribution, the UKF-based algorithm does a better job than the EKF-based one in model estimation. However the UKF-based algorithm is about 50% slower than the EKF-based one in actual computation, though it is regarded in literature that they both have the same order of computational complexity.
	TO cite this article:SU Yunpeng,YANG Baochen. Estimation of Equilibrium Term Structure Models: EKF and UKF Based Approaches[OL].[ 6 December 2016] http://en.paper.edu.cn/en_releasepaper/content/4712769

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	3. Development of Private Vehicle Ownership among Provinces in China: A Panel Data Analysis
	Wang Junda,Patrick McCarthy
	Economics 25 May 2016
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	Abstract:In recent years, with economic development, private vehicle ownership is rapidly growing in China. While associated with many benefits, China's vehicle growth also brings worsening negative externalities, including traffic congestion, air pollution, and energy dependence on oil imports.The purpose of this paper is to study the variance in private vehicle ownership among different provinces and draw some implications on how to control the growth of private vehicle ownership. In this paper, our empirical analysis uses panel data from 31 provinces during 2000 to 2013 to estimate regression models of private vehicle ownership. The data are from National Bureau of Statistics of the People`s Republic of China and EPS net database. We obtain several conclusions in this study: private vehicle ownership increases more rapidly with income in high-urbanization provinces; a high urbanization level is normally associated with high private vehicle ownership; people in high-urbanization provinces are relatively more sensitive to increases in the time cost and vehicle use cost; highway investments on infrastructure to stimulate growth of private vehicle ownership is limited; public transport infrastructure investment reduces private vehicle ownership in high urbanization areas; holding other factors constant, a province that adopts policies to restrain vehicle use, and more generally to increase use cost, are effective in reducing per capita private vehicle ownership.
	TO cite this article:Wang Junda,Patrick McCarthy. Development of Private Vehicle Ownership among Provinces in China: A Panel Data Analysis[OL].[25 May 2016] http://en.paper.edu.cn/en_releasepaper/content/4694869


	4. Off-farm Employment, Remittance and the Welfare of Emigrating Communities: From the perspective of consumption structure
	CAO Lijuan,HONG Wei
	Economics 24 May 2016
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	Abstract:The improvement of farmers' welfare could be explained as the optimization of the consumption structure. Theoretically, off-farm employment could improve the welfares of left-behind persons in emigrating communities through two channels: First, it enlarges the budget constraints of the left-behind by remittances from migrant workers; Second, there is a tendency of convergence between different consumption preferences in emigrating and immigrating communities. The "demonstration effect" of the modern consumption preference will optimize the consumption structure in emigrating communities. This paper uses Household survey data collected by the Research Centre for Rural Economy of the Chinese Ministry of Agriculture for the period from 1996-2010 in Sichuan and Anhui to test these hypotheses. Our preliminary results show that (1) off-farm employment does earn higher income for rural workers; (2) inter-region off-farm employment earns higher income than near-home off-farm employment; and (3) inter-region off-farm employment plays an important "demonstration role" that influences tastes and preferences of family members and other residents in the emigrating communities.
	TO cite this article:CAO Lijuan,HONG Wei. Off-farm Employment, Remittance and the Welfare of Emigrating Communities: From the perspective of consumption structure[OL].[24 May 2016] http://en.paper.edu.cn/en_releasepaper/content/4689912


	5. Analyzing correlation between attractions in Multi-attractions destination using complex network: The case of Happy Valley
	Li Xueying,Duan Shuhuai,Zheng Weimin,Ren Peiyu
	Economics 11 May 2016
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	Abstract:This paper presents a new model to analyze correlation between attractions in Multi-attractions destination with the help of methodologies derived from complex network, which is vital for destination manager to solve congestion fundamentally by planning the structure of destination's network more appropriately. More precisely, this study put forward the argument that arrangements of network structure affect the movement pattern of tourists by measuring the correlation between nodes .A case study of Chengdu's Happy Valley has verified the argument is applicative. The result obtained show that if the correlation between nodes in the physical structure is higher, the two attractions that the nodes represent will be closer. As a result, the possibility that these two attractions are visited before and after will be higher.
	TO cite this article:Li Xueying,Duan Shuhuai,Zheng Weimin, et al. Analyzing correlation between attractions in Multi-attractions destination using complex network: The case of Happy Valley[OL].[11 May 2016] http://en.paper.edu.cn/en_releasepaper/content/4687150


	6. XBRL Implementation and Real Earnings Management:Evidence from XBRL Dual Regulation in China
	CHEN Songsheng,TONG Xiaoxiao
	Economics 24 March 2016
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	Abstract:In this paper, we test the impact of XBRL (eXtensible Business Reporting Language) on real earnings management using listed firms from Shanghai and Shenzhen stock exchanges over 1998 to 2013. We find the level of real earnings management increases significantly after the mandatory adoption of XBRL indicating XBRL complexity makes managers more innovative to manipulate earnings using real activities. Furthermore, we investigate the impact of dual regulation from China Securities Regulation Committee (CSRC) and Ministry of Finance (MOF) on XBRL implementation. The results show that the dual regulation from two different agencies with different XBRL standards increase transition costs and implementation difficulties for most of the listed firms, reflected in the continuous increase of real earnings management and decline of superiority for Big 12 after the occurrence of dual regulation in the process of XBRL implementation in China.
	TO cite this article:CHEN Songsheng,TONG Xiaoxiao. XBRL Implementation and Real Earnings Management:Evidence from XBRL Dual Regulation in China[OL].[24 March 2016] http://en.paper.edu.cn/en_releasepaper/content/4681587


	7. The Role of Government Policies in the Adoption of Conservation Tillage in China: A Theoretical Model
	Ding Ya
	Economics 21 December 2015
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	Abstract:In this paper, the author constructs a theoretical model to explain a farmer's adoption decision of conservation tillage. Conservation tillage is a production method that leaves more residues on the field after harvest. It is typically considered both cost-reducing and eco-friendly, with the multi-benefits of controlling soil erosion, increasing soil organic matter, conserving soil moisture, and reducing labor and energy costs. However, the adoption rate of conservation tillage systems is very low in China. The goal of this study is to explore potential reasons behind the low adoption rate of conservation tillage in China. This study considers factors specific to a typical farmer in rural China. These factors include small farm size, low ability of learning and adaptation, and low vulnerability to risk. Using this model, the author discusses alternative policy tools that can help improve a farmer's incentive to adopt conservation tillage.
	TO cite this article:Ding Ya. The Role of Government Policies in the Adoption of Conservation Tillage in China: A Theoretical Model[OL].[21 December 2015] http://en.paper.edu.cn/en_releasepaper/content/4671541


	8. The issues in the economic development of China
	Liu Fengjiao,Zhao Guojun
	Economics 29 September 2015
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	Abstract: Through past decades of rapid development, tremendous changes both economically and politically have been seen in China. As one of the biggest emerging markets in world, the high-speed growth miracle of Chinese economy is always giving shocks to the entire world. Despite its high growth rates,it is widely recognized that China is still facing some difficult problems. From this perspective, the aim of our report is to find out the negative effects of economic high-speed growth in China.
	TO cite this article:Liu Fengjiao,Zhao Guojun. The issues in the economic development of China[OL].[29 September 2015] http://en.paper.edu.cn/en_releasepaper/content/4656219


	9. Coal exports and imports embodied in international trade of China
	Xu Tang,Benjamin C.McLellan,Jianliang Wang,Simom Snowden,Mikael H??k
	Economics 27 August 2015
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	Abstract:As the world's largest coal producer, China is now the world's largest coal importer. As a global coal-fired factory, China exports coal embodied in a "Made in China" form through global trade. It is this phenomenon that is examined in this paper. The research results suggest that China's net embodied coal exports remained relatively stable before 2002, and then increased dramatically after 2002 especially during the period from 2002 to 2007. The percentage of net embodied coal exports in total coal consumed by China remained at 30% on average for the 5 years following the global economic crisis. The United States, Hong Kong, and Japan are the top three importers of China's embodied coal. The percentage of net embodied coal exports in total coal consumption is higher than the percentage of net embodied oil exports for every year since 1997. China's net exports of embodied coal are a product of China's chosen economic development path. China should make a trade-off between reducing embodied coal exports and changing the current trade model, in a long-term reform process.
	TO cite this article:Xu Tang,Benjamin C.McLellan,Jianliang Wang, et al. Coal exports and imports embodied in international trade of China[OL].[27 August 2015] http://en.paper.edu.cn/en_releasepaper/content/4653259


	10. Impact of on-the-job search on intertemporal investment and managerial compensation
	YANG Guoqing, TANG Wansheng, ZHAO Ruiqing
	Economics 01 June 2015
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	Abstract:This paper addresses an intertemporal investment problem, in which a firm owner hires a manager having superior information on the profitability of the intertemporal investment project. Besides exerting costly work effort in each period, the manager also takes an on-the-job search effort to enhance his outside option. We investigate how the on-the-job search effort affects the managerial compensation contracts and the firm's investment decisions. Comparing with a benchmark setting without on-the-job search, when the manager has the opportunity of on-the-job search, the firm owner should offer a higher compensation contract to the manager in order to retain him than that in the case of without on-the-job search. Specifically, the firm owner will offer a higher bonus share rate than that in the case of without on-the-job search in the first period and the same bonus share rate in the second period. Moreover, numerical experiments indicate that the threshold of investment decision in the case of on-the-job search is larger than the one without job search. Meanwhile, the threshold of investment decision increases with the independence of work effort and job search effort, but the threshold is non-monotonic in risk attitude. In addition, our analysis shows that in both cases with and without on-the-job search, the firm owner offers a lower-powered incentive for the manager to work in the investment case than that of no investment.
	TO cite this article:YANG Guoqing, TANG Wansheng, ZHAO Ruiqing. Impact of on-the-job search on intertemporal investment and managerial compensation[OL].[ 1 June 2015] http://en.paper.edu.cn/en_releasepaper/content/4644662

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