Thailand's Student Loans Fund: Interest rate subsidies and repayment burdens

Government student loan schemes typically have implicit interest rate subsidies which, while these are a cost to taxpayers, they have the benefit of diminishing repayment burdens for graduates. Our goal is to illustrate the extent of both interest rate subsidies and repayment burdens with respect to Thailand's Student Loans Fund (SLF), using methods pioneered in measurement terms by 18 and 19.     

Exploring weighted student formulas as a policy for improving equity for distributing resources to schools: A case study of two California school districts

This paper presents a case study of two California school districts, San Francisco and Oakland, each of which have implemented their own versions of what is popularly known as a weighted student formula (WSF). One primary goal of the WSF policy is to increase the equity with which resources are distributed to schools. With respect to equity, the findings suggest that for particular schooling levels per-pupil spending became more responsive to student poverty and that the increase in responsiveness appears to have coincided with implementation of the WSF in the two districts. Moreover, each district relies on a different mechanism for driving resources to the schools: San Francisco relying to a greater degree on the unrestricted funds, while Oakland relies more heavily on restricted sources which, as directed by law, drive dollars to special need populations. Interestingly, neither district exhibited any significant change in the distribution of teacher experience after implementation of their SBF models; schools serving the highest proportion of students from low-income families continued to employ teachers with the least experience after implementation of the SBF models. While an additional goal of WSF was to drive more resources down to the school level to be spent, our analysis found little substantial change in the proportion of resources expended at the school versus the district level.     

Local amenities,unobserved quality,and market clearing: Adjusting teacher compensation to provide equal education opportunities

Local school districts differ in their ability to pay for teacher quality, and in the amenities they offer as places to live and work. Market clearing with heterogeneous quality yields geographically varying teacher salary levels that confound scarcity with unobserved differences in quality. The paper discusses identification and estimation of a model of quality-adjusted teacher salaries in local markets with unobserved market-clearing prices. Exogenous variables in the model include community and district characteristics, job characteristics and working conditions, and individual characteristics. We apply the model to estimate the relative cost of providing comparably qualified teachers for urban and rural public schools in the state of Alaska, which has high geographic variation in amenities and local financial resources. The quality-adjusted geographic salary differentials implied by the results suggest much larger compensation differentials for isolated rural schools than most of these school districts can afford under current levels of state support.     

An empirical analysis of borrowing behaviour of higher education students in the Netherlands

Many higher education students combine their study with a job on the side instead of taking up a loan. This paper examines the factors underlying this apparently myopic behaviour. We find that standard economic factors explain observed borrowing decisions to some extent. Students with easier access to financial resources borrow less often. Students with good earnings prospects and/or a high discount rate borrow more often, as do students who are prepared to take risks. An important non-standard factor affecting borrowing choices is debt aversion. We also find that a reduction in working hours will only have a limited positive impact on the time spend on studying.     

University decision making and prestige: An empirical study

In this paper, we examine the factors that influence the reputation or prestige of universities. We first develop a model of university behaviour which indicates how the decisions made by university officials would be chosen in order to maximize their respective reputations. In doing so, we assume that reputation is enhanced by the quality of students produced, the caliber of research and the service provided to the community in terms of the provision of publicly funded education services. We argue that the relative weights placed on these intermediate outputs may vary by university type as well as the means of producing them. Using the results of the reputational survey – a ranking of the institution in terms of reputation – conducted as part of the Canadian magazine Maclean’s overall ranking exercise, we then estimate an Error Correction—Ordered Probit Model of the rankings of Canadian universities to determine the factors that influence the change in reputation or “prestige” of the university as viewed by the external community. We find evidence that the change in reputation of a university is based on what might be considered the appropriate “signals” that one might use in estimating the respective quality of the institution given the respective differences in mission.     

Understanding the technology market for patents: New insights from a licensing survey of Japanese firms

This paper provides an empirical analysis of the technology market for patents in Japan, by using a novel firm-level dataset that combines a Japanese Patent Office survey titled Survey of Intellectual Property Activities, the Institute of Intellectual Property patent database, and the Licensing Activity Survey conducted by the University of Tokyo. In this paper, we use a two-step model to estimate a firm's licensing propensities; the first step estimates the determinants of potential licensors (willingness to license) and the second step identifies the factors of the actual licensing out of technology (licensing propensity). We found that a significant number of patents held by firms are not licensed out, although the owners are willing to do so. Our econometric analysis reveals that a major factor behind this technology market imperfection is the potential licensors’ difficulty in finding licensing partners.     

Trajectory tracking for a quadrotor under wind perturbations: sliding mode control with state-dependent gains

The problem of position tracking of a mini drone subject to wind perturbations is investigated. The solution is based on a detailed unmanned aerial vehicle (UAV) model, with aerodynamic coefficients and external disturbance components, which is introduced in order to better represent the impact of the wind field. Then, upper bounds of wind-induced disturbances are characterized, which allow a sliding mode control (SMC) technique to be applied with guaranteed convergence properties. The peculiarity of the considered case is that the disturbance upper bounds depend on the control amplitude itself (i.e. the system is nonlinear in control), which leads to a new procedure for the control tuning presented in the paper. The last part of the paper is dedicated to the analysis and reduction of chattering effects, as well as investigation of rotor dynamics issues. Conventional SMC with constant gains, proposed first order SMC, and proposed quasi-continuous SMC are compared. Nonlinear UAV simulator, validated through in-door experiments, is used to demonstrate the effectiveness of the proposed controls.     

The persistence of entrepreneurship and innovative immigrants

Ethnicity and immigration status may play a role in entrepreneurship and innovation, yet the impact of university entrepreneurship education on this relationship is under-explored. This paper examines the persistence and differences in entrepreneurship by ethnicity and nationality. We find that among Stanford alumni, Asian Americans have a higher rate of entrepreneurship than white Americans. However, non-American Asians have a substantially lower, about 12% points lower, start-up rate than Asian Americans. Such discrepancy not only holds for entrepreneurial choice but also for investing as an angel investor or venture capitalist, or utilizing Stanford networks to find funding sources or partners. Participation in Stanford University’s entrepreneurship program as a student does little to reduce this gap. The low level of parental entrepreneurship and the high degree of intergenerational correlation in entrepreneurship likely result in the lower level of entrepreneurship and participation in university entrepreneurship programs among Asians relative to their Asian American counterparts. Our findings highlight the value of immigration in terms of breaking the persistence in entrepreneurship among certain ethnic groups and promoting potential high-growth entrepreneurship in the United States. In addition, our findings may have important implications for programs to incorporate immigrant entrepreneurs within their home countries to promote entrepreneurship and help break the persistence of entrepreneurship across generations.     

Research subsidies,industry–university cooperation and innovation

We evaluate the impact of the EC's Seventh Framework Programme, a large-scale research subsidy programme, on the innovation activities of subsidized firms, with a particular regard to industry–university partnerships. Using matching and difference-in-difference estimation, we find a positive effect on a range of innovation indicators. The number of project participants in general and university participants in particular positively affect performance, suggesting knowledge spillovers between project members. Research centres, on the other hand, do not exert positive externalities. We also find that the benefits of collaborating with universities are amplified by their academic quality.     

荒诞之中的理性

该文力求分析《第二十二条军规》的选材和常规表现手法。文章从对该小说的选材、写作视角和常规表现手法的分析中找到了其非常规手段表现内容的对立面,正是这些对立面的存在使整部小说在荒诞可笑中交织着正常与理性,从而使文章主题更突出、更具现实意义。这些都是该小说能够作为严肃文学,经久不衰,深受欢迎的原因。