infonet-economy

A recent wave of economic research has studied the transformation of China from a poor country in the 1970s to a middle-income economy today. Based on this literature, we discuss the factors driving China’s development process. We provide a historical account of China’s rise, fall, and resurgence. We then discuss the stylized facts associated with China’s growth process and review a...

The assumption that payoff-relevant information is observable but not verifiable is important for many core results in contract, organizational and institutional economics. However, subgame-perfect implementation (SPI) mechanisms - which are based on off-equilibrium arbitration clauses that impose fines for lying and the inappropriate use of arbitration - can be used to render payoff...

We study the impact of the integration of women in US policing between the late 1970s and early 1990s on violent crime reporting and domestic violence escalation. Along these two key dimensions, we find that female officers improved police quality. Using crime victimization data, we find that as female representation increases among officers in an area, violent crimes against women...

Background: In Switzerland, age is the predominant driver of solidarity transfers in risk adjustment (RA). Concerns have been voiced regarding growing imbalances in cost sharing between young and old insured due to demographic changes (larger fraction of elderly >65 years and rise in average age). Particularly young adults aged 19–25 with limited incomes have to shoulder...

It is difficult to empirically test the prediction that future career prospects create implicit efforts incentives because researchers cannot randomly "assign" career prospects to economic agents. To overcome this challenge, we use data from professional soccer, where employees of the same club face different external career opportunities depending on their nationality. We...

This article deals with the analysis of large or complex system dynamics (SD) models, exploring the benefits of a multimethodological approach to model analysis. We compare model analysis results from SD and social network analysis (SNA) by deploying SNA techniques on a pertinent example from the SD literature—the world dynamics model. Although SNA is a clearly distinct method from...

Functional connections (FC) between the amygdala and cortical and subcortical regions underlie a range of affective and cognitive processes. Despite the central role amygdala networks have in these functions, the normative developmental emergence of FC between the amygdala and the rest of the brain is still largely undefined. This study employed amygdala subregion maps and resting-...

The demand for commodities in standard applications typically is increasing in in- come, whereas the demand for the risk free asset in the classic portfolio problem often decreases with income. The latter is shown to occur if and only if the consumer is uncertainty preferences over assets satisfy the condition that the risk free asset is more readily substituted for the risky asset...

Reference price systems for prescription drugs constitute widely adopted cost containment tools. Under these regimes, patients co-pay a fraction of the difference between a drug's pharmacy retail price and a reference price that is set by the government. Reference prices are either externally (based on drug prices in other countries) or internally (based on domestic drug prices...