China is the world's second largest economy. After four decades of economic miracles, China's economy is transitioning into an advanced, knowledge-based economy. Yet, we still lack a detailed understanding of the skills that underly the Chinese labor force, and the development and spatial distribution of these skills. For example, the US standardized skill taxonomy O*NET played an important role in understanding the dynamics of manufacturing and knowledge-based work, as well as potential risks from automation and outsourcing. Here, we use Machine Learning techniques to bridge this gap, creating China's first workforce skill taxonomy, and map it to O*NET. This enables us to reveal workforce skill polarization into social-cognitive skills and sensory-physical skills, and to explore the China's regional inequality in light of workforce skills, and compare it to traditional metrics such as education. We build an online tool for the public and policy makers to explore the skill taxonomy: skills.sysu.edu.cn. We will also make the taxonomy dataset publicly available for other researchers upon publication.

The only input to attain the portfolio weights of global minimum variance portfolio (GMVP) is the covariance matrix of returns of assets being considered for investment. Since the population covariance matrix is not known, investors use historical data to estimate it. Even though sample covariance matrix is an unbiased estimator of the population covariance matrix, it includes a great amount of estimation error especially when the number of observed data is not much bigger than number of assets. As it is difficult to estimate the covariance matrix with high dimensionality all at once, clustering stocks is proposed to come up with covariance matrix in two steps: firstly, within a cluster and secondly, between clusters. It decreases the estimation error by reducing the number of features in the data matrix. The motivation of this dissertation is that the estimation error can still remain high even after clustering, if a large amount of stocks is clustered together in a single group. This research proposes to utilize a bounded clustering method in order to limit the maximum cluster size. The result of experiments shows that not only the gap between in-sample volatility and out-of-sample volatility decreases, but also the out-of-sample volatility gets reduced. It implies that we need a bounded clustering algorithm so that maximum clustering size can be precisely controlled to find the best portfolio performance.

Colleting the data through a survey in the Northern region of Malaysia; Kedah, Perlis, Penang and Perak, this study investigates intergenerational social mobility in Malaysia. We measure and analyzed the factors that influence social-economic mobility by using binary choice model (logit model). Social mobility can be measured in several ways, by income, education, occupation or social class. More often, economic research has focused on some measure of income. Social mobility variable is measured using the difference between educational achievement between a father and son. If there is a change of at least of two educational levels between a father and son, then this study will assign the value one which means that social mobility has occurred.

The implementation of Goods and Services Tax(GST) is often attributed as the main cause of the rising prices of goods and services. The main objective of this study is to estimate the extent of GST implementation impact on the costs of production, which in turn have implication on households living costs.

Two distinct trends can prove the existence of technological unemployment in the US. First, there are more open jobs than the number of unemployed persons looking for a job, and second, the shift of the Beveridge curve. There have been many attempts to find the cause of technological unemployment. However, all of these approaches fail when it comes to evaluating the impact of modern technologies on employment future. This study hypothesizes that rather than looking into skill requirement or routine non-routine discrimination of tasks, a holistic approach is required to predict which occupations are going to be vulnerable with the advent of this 4th industrial revolution, i.e., widespread application of AI, ML algorithms, and Robotics. Three critical attributes are considered: bottleneck, hazardous, and routine. Forty-five relevant attributes are chosen from the O*NET database that can define these three types of tasks. Performing Principal Axis Factor Analysis, and K-medoid clustering, the study discovers a list of 367 vulnerable occupations. The study further analyzes the last nine years of national employment data and finds that over the previous four years, the growth of vulnerable occupations is only half than that of non-vulnerable ones despite the long rally of economic expansion.

Robust assessment of the institutionalist account of comparative development is hampered by problems of omitted variable bias and reverse causation, since institutional quality is not randomly assigned with respect to geographic and human capital endowments. A recent series of papers has applied spatial regression discontinuity designs to estimate the impact of institutions on incomes at international borders, drawing inference from the abrupt discontinuity in governance at borders, whereas other determinants of income vary smoothly across borders. I extend this literature by assessing the importance of sub-national variation in institutional quality at provincial borders in China. Employing nighttime lights emissions as a proxy for income, across multiple specifications I find no evidence in favour of an institutionalist account of the comparative development of Chinese provinces.

This study examines the relationship between type of risks and income of the rural households in Pattani province,Thailand using the standard multiple regression analysis.A multi-stage sampling technique is employed to select 600 households of 12 districts in the rural Pattani province and a structured questionnaire is used for data collection.Evidences from descriptive analysis show that the type of risks faced by households in rural Pattani province are job loss,reduction of salary,household member died,household members who work have accident,marital problem and infection of crops or livestock.In addition,result from the regression analysis suggests that job loss,household member died and marital problem have significant negative effects on the households income.The result suggests that job loss has adverse impact on households income.

This paper generalizes the original Schelling (1969, 1971a,b, 2006) model of racial and residential segregation to a context of variable externalities due to social linkages. In a setting in which individuals' utility function is a convex combination of a heuristic function a la Schelling, of the distance to friends, and of the cost of moving, the prediction of the original model gets attenuated: the segregation equilibria are not the unique solutions. While the cost of distance has a monotonic pro-status-quo effect, equivalent to that of models of migration and gravity models, if friends and neighbours are formed following independent processes the location of friends in space generates an externality that reinforces the initial configuration if the distance to friends is minimal, and if the degree of each agent is high. The effect on segregation equilibria crucially depends on the role played by network externalities.

A major drawback of the Standard Heston model is that its implied volatility surface does not produce a steep enough smile when looking at short maturities. For that reason, we introduce the Stationary Heston model where we replace the deterministic initial condition of the volatility by its invariant measure and show, based on calibrated parameters, that this model produce a steeper smile for short maturities than the Standard Heston model. We also present numerical solution based on Product Recursive Quantization for the evaluation of exotic options (Bermudan and Barrier options).

Over the past decade, the blockchain technology and its Bitcoin cryptocurrency have received considerable attention. Bitcoin has experienced significant price swings in daily and long-term valuations. In this paper, we propose a partial differential equation (PDE) model on the bitcoin transaction network for predicting bitcoin price. Through analysis of bitcoin subgraphs or chainlets, the PDE model captures the influence of transaction patterns on bitcoin price over time and combines the effect of all chainlet clusters. In addition, Google Trends Index is incorporated to the PDE model to reflect the effect of bitcoin market sentiment. The experiment shows that the average accuracy of daily bitcoin price prediction is 0.82 for 362 consecutive days in 2017. The results demonstrate the PDE model is capable of predicting bitcoin price. The paper is the first attempt to apply a PDE model to the bitcoin transaction network for predicting bitcoin price.