工程招标暂定价的造价管理

在工程招标时,通常设定暂定价,加强招标暂定价的管理,有利于工程总投资的造价控制。本文简单介绍了招标暂定价的特点和分类,提出了从建设项目招标、施工、竣工结算三个阶段加强暂定价造价管理的具体措施。     

房地产价格波动的储蓄效应研究：1997-2008——基于省际面板数据的实证检验

本文利用1997～2008年间的省际面板数据，对房地产价格和居民储蓄之间的关系进行了理论分析和实证检验。理论分析表明，区域和省际间实证结果的差异，主要缘于房价对储蓄特殊的影响机理：被动储蓄效应和结构储蓄效应。此外，房价对储蓄的影响还存在间接储蓄效应，这个效应说明房价在短期对储蓄具有正面影响，在长期对经济发展结构具有负面影响。实证结果显示：在全国范围、中部和西部地区，房价与储蓄存在高度显著的正相关关系，即存在明显的储蓄效应，但东部一些省份的估计结果却显示房价对储蓄的影响不显著。     

Research on reform tactics of China＇s oil price forming mechanism

The main problem the oil industry facing in modem market economy is unreasonable price mechanism, the substance of which should be attributed to the fact that it is still short of a reasonable oil price forming mechanism. Therefore, the discussion on this aspect should be pushed forward. As the breakthrough point, on the basis of status research in quo and formation causes of China＇s oil price forming mechanism, we should analyze the necessity and imminence of China＇s oil price forming mechanism reform deeply. Then, with the perspective of development strategy of the oil industry, we put forward the reform measures of it.     

论民生指数评估的必要性——兼论民生指数与幸福指数的差异

当前我国进入经济社会发展转型期,民生问题不仅影响公众的生存和生活质量,也关系社会的和谐稳定,保障和改善民生已成为党和政府以及社会各界普遍关注的重要议题。在衡量保障和改善民生方面,相对而言幸福指数存在内容过于宽泛,人为操纵因素,缺乏针对性等问题,民生指数则具有评估内容客观、更具有针对性、不易产生歧义、可操作性强和衡量标准明确等特点,积极开展民生指数评估十分必要。     

A Comparative Study of the Benefits of Applying Target Cost Contracts Between South Australia and Hong Kong

This article aims to identify and analyze the key benefits of adopting Guaranteed Maximum Price and Target Cost Contracts (GMP/TCC) over and above the traditional lump‐sum contractual arrangement through an empirical questionnaire survey conducted in South Australia and compared with the findings in Hong Kong. The Mann‐Whitney U Test indicated differences in perception between the two groups of respondents on the majority of the identified benefits. The study has provided an in‐depth understanding of the perceived benefits of the GMP/TCC scheme, hence leading to a wider application of those alternative integrated procurement strategies in both regions for reference by the construction community at large.     

Aggregation of Price Risk over Commodities: An Economic Index Number Approach

This article extends the economic theory of index numbers to the aggregation of price risk over commodities in production. Superlative indexes of aggregate price risk are related to Tornqvist and Fisher−type output quantity indexes. An application to major crops in Manitoba illustrates the empirical importance of the analysis.     

Open-Market Stock Repurchase and Stock Price Behavior When Management Values Real Investment

This paper provides a simple explanation of open‐market stock repurchases and the stock price behavior surrounding them. There is ex ante asymmetry of information with regard to the private benefits that corporate managers can attain from real investments. In our model, open‐market repurchase announcements reveal information about the managers' private benefits when real investment opportunities are unprofitable in terms of firm values. This study differs from previous studies in that we show that announcements of open‐market repurchase programs can be believable without the restriction that the announcements are commitments. Empirically, the model simultaneously predicts that a stock price will drop prior to an open‐market repurchase announcement and will rise in response to the announcement. These predictions are consistent with stylized facts.     

修正和构建统计指数指标体系

统计指数是统计学的重要内容，为更好地掌握和理解统计指数的内容及应用方法，构建一个清晰、完整的统计指数指标体系，具有非常重要的意义。     

Random Walks and Market Efficiency Tests of Latin American Emerging Equity Markets: A Revisit

The few existing studies on equity price dynamics and market efficiency for Latin American emerging equity markets show conflicting results. This study uses multiple varianceratio and auto-regressive fractionally integrated moving-average tests and new data (U.S. dollar-based national equity indices for the 1987–1997 period) to clarify these results. Documented evidence shows that equity prices in major Latin American emerging equity markets — Argentina, Brazil, Chile and Mexico—follow a random walk, and that they are, generally, weak-form efficient. In sum, therefore, the evidence suggests that international investors in these markets cannot use historical information to design systematically profitable trading schemes because future long-term returns are not dependent on past returns.