Forecasting real estate prices in Germany: the role of consumer confidence

The aim of the paper is to analyse the forecasting ability of various potential predictors for real estate prices in Germany over the short term. In the wake of the financial crisis, real estate prices in Germany started to increase markedly and still did so by the end of 2013. Despite a number of fundamental reasons, e.g. favourable lending conditions and Germany’s rapid return to economic growth, this provoked a discussion on whether consumers have too gloomy expectations regarding real estate prices in future. To capture the role of expectations for predicting real estate prices, in our forecast evaluation, we put special emphasis on various components of consumer confidence. Using single indicator models, we find that households’ perceived financial situations as well as their intended consumption/saving plans serve as valuable real estate price predictors.     

基于ARIMA模型的我国人口、耕地与粮食预测分析

本文利用我国人口、耕地与粮食单产数据,运用ARIMA模型,对我国人口、耕地与粮食单产发展进行定量预测分析,为制定未来粮食安全政策提供参考。研究结果:按现阶段中国人口、耕地与粮食单产发展形势至2020年用于种粮的耕地面积10.74亿亩,粮食单产5518.60公斤/公顷。人均粮食占有量441.56公斤。用于种粮的耕地面积比《全国粮食安全发展纲要》11亿亩的指标少0.26亿亩,人均粮食占有量较2020年人均粮食消费量395公斤的粮食安全指标高46.56公斤。建议通过坚持计划生育政策、制定严格的土地审批制度,实现人口、耕地、粮食的协调发展。     

基于灰色系统模型的城乡建设用地规模预测——以济南市为例

建设用地规模预测是土地利用总体规划编制的核心,也是土地利用管理的依据。为了切实搞好济南市的土地利用总体规划,使之更具有前瞻性、可操作性,必须切合实际地搞好建设用地需求规模和布局的预测。采用灰色系统模型,通过灰色关联度分析,建设用地发展与GDP、总人口、市镇人口、社会固定资产投资、第二产业产值、第三产业产值密切相关。基于这些因子,采用灰色系统模型法、建立GM(1,1)灰色模型,进行了2015年和2020年城乡建设用地规模的预测。     

我国经济增长预测研究新探——基于分类变量的扩散指标法

基于分类变量的扩散指标方法是在Stock and Watson所提出的扩散指标法的基础上，利用变量之间的相似系数先对变量进行聚类分析，根据各变量的相似程度的大小分为几个变量子集，然后分别从变量子集中提取扩散指标。应用基于变量分类的扩散指标方法对我国经济增长的预测结果表明，同扩散指标法相比，该方法更加充分利用了原始数据中的有用信息，预测精度很高，因而是对经济增长进行预测的另一种有效方法。     

A parsimonious model to forecast financial distress,based on audit evidence

This paper provides evidence that audit reports convey relevant evidence for inferring the existence of underlying, unrevealed, financial imbalances. Unlike previous works, which studied US listed-firms bankruptcy, our research deals with Spanish non-financial SMEs under financial stress. Our results indicate that the audit of distressed SMEs has several distinctive features: higher auditor rotation, more qualified reports, and non-compliance with deadlines to approve and file the annual financial statements. We use this evidence to build and test a parsimonious and reliable forecast model. Several implications for auditors’ independence, information quality, and failure forecast are discussed.     

我国上市公司财务危机预测指标体系的述评与选择

本文回顾了国内外具有代表性的文献,对其使用预测指标的频数与样本数进行统计,结合锐思数据库取得的数据,得出我国上市公司财务危机预测备选指标体系,具有较好的适用性、可靠性、客观性与有效性。同时,本文指出文献中的一些不足之处,并给出改进建议。     

10 Things to Watch in 2015

【正】We expect GDP growth to average 7.1%in 2015:7.1%in Q1,7.2%in Q2 and Q3,and 7.0%in Q4CPI inflation should average 2%;disinflationary pressure is set to build ...     

Revenue Forecasting Practices: Differences across Countries and Consequences for Forecasting Performance*

This paper reviews the practice and performance of revenue forecasting in selected OECD countries. It turns out that the cross‐country differences in the performance of revenue forecasting are first of all associated with uncertainty about the macroeconomic fundamentals. To some extent, they are also driven by country characteristics such as the importance of corporate and (personal) income taxes. Also, differences in the timing of the forecasts prove important. However, controlling for these differences, we find that the independence of revenue forecasting from possible government manipulation exerts a robust, significantly positive effect on the accuracy of revenue forecasts.     

Bilateral Trade Balances: Evidence from Malaysia*

This study examines the impacts of real exchange rates on the bilateral trade balances of Malaysia with the USA, Japan and Singapore. The results for the long‐run cointegrating vectors show that depreciation or devaluation of real exchange rates will improve bilateral trade balances. In the short run, there is some evidence of the J‐curve phenomenon. Changes in real money supply contribute greatly to changes in real exchange rates. Generally, changes in real exchange rates contribute significantly to changes in bilateral trade balances. Monetary policy can be used to influence bilateral trade balances.     

新疆艾维尔沟矿区焦煤井田地质灾害评估及防治措施

对拟建矿区进行地质灾害危险性现状评估,预测工程建设引发或加剧地质灾害的危险性程度,提出了相关的防治措施。