As Low Birth Weight Babies Grow, Can 'Good' Parents Buffer this Adverse Factor? A Research Note.

This research note combines two national Taiwanese datasets to investigate the relationship between low birth weight (LBW) babies, their family background and their future academic outcomes. We find that LBW is negatively correlated with the probability of such children attending university at the age of 18; however, when both parents are college or senior high school graduates, such negative effects may be partially offset. We also show that discrimination against daughters does occur, but only in those cases where the daughters were LBW babies. Moreover, high parental education (HPE) can only buffer the LBW shock among moderately-LBW children (as compared to very-LBW children) and full term-LBW children (as compared to preterm-LBW children).

The creative industrial park : formation path and evolution mechanism

This paper has built a three-stage assumption of creative industrial park on the base of evolutionary economics, which are the gather of units, the construction of interface and the development of network. The gather of units is a reflection of resource search, the construction of interface is a need of identity, and the development of network is a result of multi-dimensional expansion.In the three-stage evolution, the creative industrial park increases constantly their evolution level from the simple geographic gathered to the division and cooperation of labor, until the formation of novel systems. Then this paper analyzes the 798 creative industrial park using the three-stage assumption. This paper finds the main problem of 798’s self-destructing after the low level development of the third stage is the exclusion of the commercial prosperity to the art production. Accordingly,the paper puts forword four modes of promoting the integration between art and commerce. At last, this paper argues the different characteristics of the creative industrial park from other industrial parks. On the angle of formation path, the essence of creative industries is integration of culture and economy, technology. On the angle of evolution mechanism, it reflects novel characteristic of unit, identity characteristic of interface, and co-creation characteristic of network.creative industrial park; formation path; evolution mechanism; integration of culture,economy,and technology

Causality in Quantiles and Dynamic Stock Return-Volume Relations

This paper investigates the causal relations between stock return and volume based on quantile regressions. We first define Granger non-causality in all quantiles and propose testing non-causality by a sup-Wald test. Such a test is consistent against any deviation from non-causality in distribution, as opposed to the existing tests that check only noncausality in certain moment. This test is readily extended to test non-causality in different quantile ranges, and the testing results enable us to identify the quantile range for which causality is relevant. In the empirical studies of 3 major stock market indices, we find that, while the conventional test suggests no causality in mean, there are strong evidences that lagged volume Granger causes return in all but some middle quantiles. In particular, the causal effects have opposite signs at lower and upper quantiles and are stronger at more extreme quantiles. These relations form (symmetric) V shapes across quantiles. They also show that the dispersion of the return distribution increases with volume so that volume has a positive effect on return volatility. It is also shown that the quantile causal effects of lagged return on volume are mainly negative.Granger non-causality in quantiles, quantile causal effect, quantile regression, return-volume relation, sup-Wald test