The Rural Minimum Living Standard Guarantee(Rural Dibao)is an important unconditional cash transfer program to alleviate poverty in rural China.Despite the importance of children’s nutrition in breaking poverty cycle...The Rural Minimum Living Standard Guarantee(Rural Dibao)is an important unconditional cash transfer program to alleviate poverty in rural China.Despite the importance of children’s nutrition in breaking poverty cycles,little is known about the impact of Rural Dibao on child nutrition outcomes.Using China Family Panel Studies(CFPS),this paper examines the effects of Rural Dibao on child nutrition outcomes and investigates potential pathways and heterogeneous effects.We exploit propensity score matching and difference-in-differences techniques to evaluate the effects of the Rural Dibao program on child nutrition outcomes.Our results suggest that Rural Dibao significantly impacts the nutrition outcomes of children up to 15 years of age.Specifically,our results suggest that Rural Dibao improves child height-to-age z-scores by 1.05 standard deviations and lowers the probability of stunting by 11.9 percentage points.Additional analyses suggest that increased protein intake is the main pathway through which Rural Dibao participation contributes to better nutrition outcomes.We also find that the effect of the program is more pronounced among girls,children who are non-left-behind or live with highly educated mothers,and those from low-income families and poor areas.Our findings suggest that Rural Dibao participation helps improve child nutrition outcomes through improving diet quality.展开更多
This paper mainly studies the optimal investment problem of defined contribution(DC)pension under the self-protection and minimum security.First,we apply Ito?theorem to obtain the differential equation of the real sto...This paper mainly studies the optimal investment problem of defined contribution(DC)pension under the self-protection and minimum security.First,we apply Ito?theorem to obtain the differential equation of the real stock price after discounting inflation.Then,under the constraint of external guarantee of DC pension terminal wealth,self-protection is introduced to study the maximization of the expected utility of terminal wealth at retirement time and any time before retirement.The explicit solution of the optimal investment strategy of DC pension at retirement time and any time before retirement should be derived by martingale method.Finally,the influence of selfprotection on the optimal investment strategy of DC pension is numerically analyzed.展开更多
To guarantee secure information transmission within two sources,a full-duplex(FD)relay jamming scheme for two-way energy harvesting(EH)cooperative networks is proposed,in which the relay can achieve simultaneous infor...To guarantee secure information transmission within two sources,a full-duplex(FD)relay jamming scheme for two-way energy harvesting(EH)cooperative networks is proposed,in which the relay can achieve simultaneous information reception and jamming transmission.The EH relay node scavenges energy from two source signals,and then,uses the harvested energy for information relaying and jamming transmission by the power splitting(PS)protocol.Considering multiple eavesdroppers,the nonconvex optimization for maximizing the smaller bidirectional secrecy rates is formulated by jointly optimizing the power allocation and PS factor.Furthermore,an iterative algorithm based on successive convex approximation and alternate search method is proposed to solve this non-convexity.Simulation results verify the proposed iterative algorithm and show that the proposed jamming scheme can achieve substantial performance gain than other conventional schemes.展开更多
In this study,we propose an efficient approach to the calculation of risk measures for an insurer's liability from writing a variable annuity with guaranteed benefits.Our approach is based on a novel application o...In this study,we propose an efficient approach to the calculation of risk measures for an insurer's liability from writing a variable annuity with guaranteed benefits.Our approach is based on a novel application of the Hermite series expansions on the transition density of a diffusion process to the insurance setting.We compare our method with existing methods in the literature,including the analytical method,spectral method and Green's function method,and illustrate its substantial advantages in calculating risk measures for variable annuities with different guarantee structures.The improved efficiency makes our method flexible to practical implementation in reporting risk measures on a daily basis.We also conduct a sensitivity analysis of the risk measures with respect to key parameters.展开更多
基金The authors are grateful for support from the National Social Science Fund of China(21AJL015).
文摘The Rural Minimum Living Standard Guarantee(Rural Dibao)is an important unconditional cash transfer program to alleviate poverty in rural China.Despite the importance of children’s nutrition in breaking poverty cycles,little is known about the impact of Rural Dibao on child nutrition outcomes.Using China Family Panel Studies(CFPS),this paper examines the effects of Rural Dibao on child nutrition outcomes and investigates potential pathways and heterogeneous effects.We exploit propensity score matching and difference-in-differences techniques to evaluate the effects of the Rural Dibao program on child nutrition outcomes.Our results suggest that Rural Dibao significantly impacts the nutrition outcomes of children up to 15 years of age.Specifically,our results suggest that Rural Dibao improves child height-to-age z-scores by 1.05 standard deviations and lowers the probability of stunting by 11.9 percentage points.Additional analyses suggest that increased protein intake is the main pathway through which Rural Dibao participation contributes to better nutrition outcomes.We also find that the effect of the program is more pronounced among girls,children who are non-left-behind or live with highly educated mothers,and those from low-income families and poor areas.Our findings suggest that Rural Dibao participation helps improve child nutrition outcomes through improving diet quality.
基金Supported by the National Social Science Foundation of China(20BTJ048)Anhui University Humanities and Social Science Research Major Project(SK2021ZD0043)。
文摘This paper mainly studies the optimal investment problem of defined contribution(DC)pension under the self-protection and minimum security.First,we apply Ito?theorem to obtain the differential equation of the real stock price after discounting inflation.Then,under the constraint of external guarantee of DC pension terminal wealth,self-protection is introduced to study the maximization of the expected utility of terminal wealth at retirement time and any time before retirement.The explicit solution of the optimal investment strategy of DC pension at retirement time and any time before retirement should be derived by martingale method.Finally,the influence of selfprotection on the optimal investment strategy of DC pension is numerically analyzed.
基金supported in part by the National Nature Science Foundation of China under Grant 61473066 and Grant 61601109the Fundamental Research Funds for the Central Universities under Grant No.N152305001the Natural Science Foundation of Hebei Province under Grant F2017501039.
文摘To guarantee secure information transmission within two sources,a full-duplex(FD)relay jamming scheme for two-way energy harvesting(EH)cooperative networks is proposed,in which the relay can achieve simultaneous information reception and jamming transmission.The EH relay node scavenges energy from two source signals,and then,uses the harvested energy for information relaying and jamming transmission by the power splitting(PS)protocol.Considering multiple eavesdroppers,the nonconvex optimization for maximizing the smaller bidirectional secrecy rates is formulated by jointly optimizing the power allocation and PS factor.Furthermore,an iterative algorithm based on successive convex approximation and alternate search method is proposed to solve this non-convexity.Simulation results verify the proposed iterative algorithm and show that the proposed jamming scheme can achieve substantial performance gain than other conventional schemes.
基金support from the National Natural Science Foundation of China under Grants No.71501196,No.71721001,and No.U1811462the Natural Science Foundation of Guangdong Province of China under Grant No.2014A030312003the Innovative Research Team Project of Guangdong Province of China under Grant No.2016WCXTD001.
文摘In this study,we propose an efficient approach to the calculation of risk measures for an insurer's liability from writing a variable annuity with guaranteed benefits.Our approach is based on a novel application of the Hermite series expansions on the transition density of a diffusion process to the insurance setting.We compare our method with existing methods in the literature,including the analytical method,spectral method and Green's function method,and illustrate its substantial advantages in calculating risk measures for variable annuities with different guarantee structures.The improved efficiency makes our method flexible to practical implementation in reporting risk measures on a daily basis.We also conduct a sensitivity analysis of the risk measures with respect to key parameters.
