The impact of contract enforcement efficiency on debt maturity structure using mathematical derivation and comparative static analysis

In recent years, the systematic use of advanced mathematical methods to express, study and argue economic theories has become an important branch and research hotspot in economics. The choice of debt maturity structure is an interesting economics issue in corporate finance. The signing of debt financing contract is not only the enterprises’ independent behavior, but also will be affected by the contract environment. Differences in the contractual environment will inevitably lead to differences in the efficiency of contract enforcement between borrowers and lenders in debt contracts. This paper introduces the contract enforcement efficiency factor on the basis of the standard structure model constructed by Holmstrom and Tirole, and then theoretically investigates the influence mechanism of contract enforcement efficiency on debt maturity structure based on the mediating role of contract enforcement efficiency on the investors’ liquidation claims. By transforming the financing contract into a linear programming problem, and then solving the optimization model, mathematical derivation and static comparative analysis, the research shows that as the efficiency of contract enforcement increases, the amount of short-term debt and long-term debt increases, while the direction change in debt maturity structure is uncertain and the specific relationship between them is closely related to the magnitude of all exogenous variables.

Job Search With Legal and Illegal Workers: A Comparative Static Analysis

This paper incorporates government immigration policy variables in a job search and match framework to examine its implication on labour market outcomes. The main assumption is that illegal workers can be penalized by receiving lower equilibrium wages or face possible deportation; and government can regulate illegal workers by introducing a “caught variable”, η, in the model. By a comparative statics analysis, the study has revealed that changes in the wages of illegal workers have both direct and indirect effect on wages of legal workers. Also, an important finding is that η has positive impact on most of the labour market parameters considered in the study.

Differences in wage-determination systems between regular and non-regular employment in a Kaleckian model

In this study, we build a Kaleckian model incorporating institutional differences between the wage determination of regular employment and that of non-regular employment. In our model, three types of wage-bargaining regimes are defined based on how regular workers’ collective wage bargaining affects the real wage rate of non-regular workers. We investigate the stability conditions of the dynamical system under each combination of demand regimes and wage-bargaining regimes. We also conduct comparative static analysis and show that the effects of changes in the parameters are diverse depending on combinations of demand regimes and wage-bargaining regimes.

Is higher-quality land developed earlier?

Is higher-quality land developed earlier? To answer this question, the paper applies comparative static analysis to the Arnott–Lewis model of the transition of land from agricultural to urban use. It is shown that (i) an increase in agricultural fertility increases structural density and delays development; (ii) a decrease in land preparation cost reduces structural density and hastens development; and (iii) both an increase in amenities and a decrease in structure construction costs normally hasten but in anomalous cases can delay development.

Comparative static analysis of provincial agricultural science and technology level based on grey clustering

Purpose The purpose of this paper is to cluster and analyse the level of agricultural science and technology in China’s provinces by using grey clustering model, to have an overall understanding of the current situation of agricultural science and technology development in these provinces, and to offer a reference for decision-making departments to draw up agricultural science and technology development plans. Design/methodology/approach First of all, the grey clustering assessment is used to evaluate the clustering of agricultural science and technology level in China’s provinces in 2011, 2013 and 2015. Also a comparative static analysis is made. Then, based on the prediction data of GM (1,1) model, the provincial agricultural science and technology levels in 2017 and 2019 are analysed by grey clustering. Finally, some suggestions are put forward, such as adjusting the allocation of agricultural science and technology resources and providing policy preferences to backward areas, so as to promote the coordinated development of agricultural science and technology in China. Findings The development of agricultural science and technology in various provinces and regions of the authors’ country is unbalanced, with a big gap of agricultural and technology level between different provinces. What’s more, the level of agricultural science and technology in remote areas has been developing slowly, but it has been lagging behind. Through the grey clustering analysis of the provincial agricultural science and technology level in 2017 and 2019, it is concluded that the level of agricultural science and technology will be promoted as a whole, but the gap of agricultural science and technology level between different provinces and cities will be enlarged. Research limitations/implications This paper comprehensively studies the current situation and future development trends of agricultural science and technology in China’s provinces in recent years, and preliminarily analyses the reasons for the transformation of agricultural science and technology level, however, with no further inspection. Related research should be made for further study. Practical implications This paper will provide overall understanding of the current situation of agricultural science and technology development in China’s provinces and cities, and put forward relevant suggestions for the future development of agricultural science and technology in China’s provinces and cities, and provide references for decision-making departments to draw up agricultural science and technology development plans. Originality/value For the first time, the grey clustering method is used to the research of agricultural science and technology level in the province. It analyses and evaluates the past and present situation and predicts the future development trend of provincial agricultural science and technology level by the grey clustering analysis method, which is a complete research.

AN ECONOMIC MODEL OF STUDENT LEARNING

We develop a dynamic economic model based on contemporary understanding of learning and motivation. The model and resulting comparative static analysis show the instructor's role in providing a productive learning environment. Instructors should set the complexity of course assignments and assessments to be consistent with student preparedness. Learning is enhanced when the rate of change in challenge is based on the rate of change of how rapidly students are learning. Instructors steer students toward a productive trajectory with tasks that cause students to work hard and by consistently providing feedback and fostering a culture of learning.