Drugs Prices and Systemic Violence: An Empirical Study

This study proposes an empirical analysis of the relation between the prices of illegal drugs and the use of violence to administrate the markets of illegal drugs. The study hypothesizes that the prices of illegal drugs affect the level of violent crime, since changes in profitability of the drugs’ markets affect the offenders’ expected utility of using violence to operate in these markets. An increase (or decrease) in prices would raise (or reduce) the offenders’ expected utility of making use of violence, for instance, to solve disputes over drugs, to conquer more market shares, to defend ones own market share, in short to make use of systemic violence (Goldstein, P.J. Journal of Drug Issues, 39:143–179, 1985). The study will analyze the relation between the dynamics of cocaine and heroin’s prices and systemic violence in the United States of America and in Europe over two decades. The correlational and inferential analyses do support the hypothesis for certain offenders’ profiles and certain murders’ circumstances.

Can we explain the Santa Clara county housing market?

Abstract

Santa Clara County has recently had the highest house prices of any large housing market in the nation. Part of the explanation lies in the extraordinarily low user cost of housing caused by the interaction of high incomes and the tax deductions available to homeowners. But this article also evaluates whether changes in stock wealth have been responsible for the recent increase in housing prices in Santa Clara County.

Although three different stock market measures add explanatory power to a model of housing prices in the region, none of these indexes predicts the housing price increases seen in 1999 and 2000. In fact, the within‐sample models have .R‐squares of only 0.22, and even the best model (based on the Standard & Poor's 500) does not forecast well out of sample. Still, the market is unusual in that stock prices seem to have some impact on house prices.     

ECONOMY

正Reform Priorities The National Development and Reform Commission (NDRC) on May 20released economic priorities for 2014 in a plan that has been approved by the State Council,the country’s cabinet.The NDRC said authorities will cut red tape and slash items that need administrative approval.China will continue to expand the scope of value-added tax (VAT)r eform     

THIS WEEK

正WELCOMING ThE YEAR OF ThE hORSE A glimmering steed lights up Wangfujing Street in downtown Beijing on January 9,creating a festive atmosphere showcasing traditional Chinese culture.As the 2014Spring Festival approaches,people are preparing to celebrate the Chinese Lunar New Year,which arrives on January 31 this year.     

Tongrentang Goes International

正THE time-honored Beijing Tongrentang brand has achieved its longstanding goal to go global.The leading Chinese pharmaceutical company has opened 95 stores in 17 countries and regions out of the mainland,as well as a research and development center in Hong Kong.     

The Limits of RMB Internationalization

正RMB internationalization is one of the most important issues for China’s economy.Owing to the real factors affecting it,however,its development will be slower than media speculation can envisage.There is an exaggerated perception of RMB internationalization when considered according to percentage growth statistics,because calculations of them start from extremely low levels.For example,the proportion of RMB payments in the U.S.in April 2014 rose 100percent compared to a year earlier.This sounds spectacular,until taking into account that the rise constituted     

论社会主义市场经济改革的道德探求

社会主义市场经济本应具有二维向度,即理想道德维度与现实生产力维度,但具体实践在对现实生产力维度的追求中,一定程度上忽略了对理想道德维度的考量,付出了一定的道德代价。要进一步坚持社会主义市场经济的改革方向,要求显示出它在道德上的优越性和在避免道德代价上的优越性,并从控制资本、道德市场、社会所有、核心价值、政治力量等五个方面进行探索。     

经济因素对住房价格驱动的实证研究——基于浙江省11城市面板数据

经济因素对房地产市场至关重要,但不同的区域影响力会有较大的差异。与以往研究中常采用全国性的数据有别,本文利用浙江省11市1994—2008年的宏观经济和房地产相关数据,通过建立面板数据模型检验了区域宏观经济与住房价格之间的关系。我们发现区域经济中实际人均GDP、城市人口、房地产开发投资和其他投资等经济因素对房价有不同程度的显著影响,且房地产投资的增加能导致住房价格的上涨,经济增长对住房价格存在显著的正向驱动。     

Housing prices and wealth inequality in Western Europe

Abstract

Comparative political economy (CPE) has robustly examined the political and institutional determinants of income inequality. However, the study of wealth, which is more unequally distributed than income, has been largely understudied within CPE. Using new data from the World Income Database (WID), this article examines how economic, political and institutional dynamics shape wealth-to-income ratios within Western European and OECD countries. It is found that the political and institutional determinants that affect income inequality have no short- or long-run effects on the wealth-to-income ratio. Rather, the rise in wealth-to-income ratios is driven by rising housing prices, as well as price changes in other financial assets, not home ownership or national saving rates. The article concludes by examining how the changing dynamics of housing prices and wealth inequality will increasingly shape intergenerational – and associated class-based – political conflict in Western Europe.