In May 1900 Yan Fu (1854-1921) fled Tianjin for Shanghai following the outbreak of the Boxer Rebellion. While Yan Fu was in Shanghai, a young man from Jiangxi named Xiong Yuan’E (1879-1906) came to pay his respects to him, and eventually became Yan Fu’s favorite student. Even after Yan Fu returned to Beijing in March 1901, Xiong Yuan’E continued writing to him for advice. After studying under Yan Fu, Xiong took first place in the Jiangxi provincial examinations in 1903. One of the questions on the exam concerned reform of the educational system and the establishment of modern academic disciplines. In terms of both language usage and content, Xiong’s test answers naturally reflected Yan Fu’s profound influence. In this paper, articles written by Yan Fu and the test answers given by Xiong Yuan’E are analyzed to explore Yan’s and Xiong’s principal ideas on the issues of science and education, and to reveal heretofore unknown details of the relationship between the two men

Ibragimov M.

Ibragimov R.

Applied Economics

© 2016 Informa UK Limited, trading as Taylor & Francis Group.Okun’s law is a well-known relationship between the change in the unemployment rate and output growth. The main objective of this article is to provide a rigorous econometric analysis of Okun’s law for several CIS countries using different models and theoretically justified econometric methods. The traditional approach to Okun’s law estimation using OLS regressions does not account for possible endogeneity of regressors and the implied inconsistency of the estimates obtained. These problems point out to incorrectness of applications of the standard OLS estimation techniques. Our study addresses these issues by using econometrically justified instrumental variable regression methods. The article provides the results and discussions on practical use of Okun’s relationships for evaluation of average effects of economic growth on the unemployment rate, and vice versa; importance of accounting for confidence intervals in applications of Okun’s models to economic development analysis and cross-country comparisons and evaluation of effects of crises and other structural shocks on the economies considered. We also discuss in detail the results of formal econometric tests and economic motivation for validity of instrumental variables used in the study. The formal econometric tests, together with economic arguments, allow us to determine the most appropriate Okun-type models for each of the CIS countries under consideration

National Open Repository Aggregator (NORA)

Unemployment and output dynamics in CIS countries: Okun’s law revisited

沈 国威

Kansai University Repository