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ID: 159074

Has the compulsory school merger program reduced the welfare of rural residents in China? / Cai, Weixian

Cai, Weixian	Journal Article
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Summary/Abstract

The compulsory school merger program in rural regions of China imposed higher education costs on rural residents, decreased their consumption and reduced their welfare. In this study, we employ household-level data and the difference-in-differences method to analyze the policy effect on residents' consumption and education costs. Our results show that the compulsory school merger program had a negative effect on the consumption of rural residents and inflicted multiple education costs on them. We also find that the increase in the distance between school and home is an important explanation for the effect of this policy on rural residents' education costs.

Key Words

Precautionary Saving ; Compulsory School Merger Program ; Rural Residents' Consumption

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ID: 149946

Saving Alberta's resource revenues: role of intergenerational and liquidity funds / Bremer, Ton S. van den; Ploeg, Frederick van der

Bremer, Ton S. van den	Journal Article
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We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation, this dividend should be a constant fraction of total above- and below-ground wealth, complemented by additional precautionary savings at initial times to build up a small liquidity fund to cope with oil price volatility. The ongoing dividend equals approximately 30 per cent of government revenue and requires building assets of approximately 40 per cent of GDP in 2030, 100 per cent of GDP in 2050 and 165 per cent in 2100. Finally, the effect of the recent plunge in oil prices on our estimates is examined. Our recommendations are in stark contrast with historical and current government policy.

Key Words

Fiscal Policy ; Oil Price Volatility ; Precautionary Saving ; Resource Wealth

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