Foreign exchange policy and banking reform in China

Foreign exchange ; Dollar

The Ringel--Hall Lie algebra of a spherical object

For an integer $w$, let \cs_w be the algebraic triangulated category generated by a $w$-spherical object. We determine the Picard group of \cs_w and show that each orbit category of \cs_w is triangulated and is triangle equivalent to a certain orbit category of the bounded derived category of a standard tube. When $n=2$, the orbit category \cs_w/\Sigma^2 is 2-periodic triangulated, and we characterize the associated Ringel--Hall Lie algebra in the sense of Peng and Xiao.Comment: 26page

Industry specialization, diversification, churning, and unemployment in Chinese cities

This paper studies how industry specialization, diversification, and churning affect unemployment rates in Chinese cities. Using a city level panel data set from 1997 to 2006, we find that the specialization of wholesale and retail industry can significantly decrease unemployment rate; however, specializing in finance industry increases unemployment rate. In contrast to the evidence from developed countries, industry diversity is positively and significantly associated with unemployment rates in Chinese cities, possibly due to the higher degree of industry churning during the sample period. We also find that urban economic growth, market maturity measured by the proportion of private sector employment, and human capital can decrease unemployment rate. Industry diversity does not stabilize unemployment; wholesale and retail industry increases unemployment fluctuations; but market maturity and human capital stabilize unemployment.Industry structure; specialization; industry diversity; unemployment; churning