股票市场收益率波动长记忆性的分解及实证研究

目前股票市场长记忆性检验和建模方法，不能很好地消除短期记忆的影响，针对这一问题，本文提出寻找序列的突变点，通过将序列分解为只包含长记忆性部分和不包含长记忆性部分的序列分解技术，来排除短期记忆的影响。对上证指数和深圳成分指数收益率波动的长记忆性进行实证研究发现，将序列分解以后进行长记忆性检验，不仅可以得出长记忆性检验更为精确的结论，同时可以检验序列分解过程的效果。     

建筑垃圾处理与循环经济

建筑垃圾对环境的影响以及对建筑垃圾的资源化利用已成为亟待研究和解决的问题。循环经济把经济活动组成一个“资源一产品一再生资源”的反馈式流程,从而最大限度地减少经济活动对生态环境的影响。通过对建筑垃圾分类、组成和我国目前在处理方法上存在问题的分析,提出应用循环经济的“3R原则”资源化处理建筑垃圾的对策。     

Time to default in the UK mortgage market

This paper employs duration analysis to investigate the timing of default in the UK mortgage market. Our analysis is performed on an ex ante basis, in that our explanatory variables are available to mortgage lenders when the loan is first made. We estimate both standard Weibull distributions and generalizations of the Weibull that permit non-monotonic hazard functions. The models fit the data well, suggesting that we have captured the major sources of variation in duration. We find that ‘cash flow’ variables, such as salary and interest rate paid, play the largest role. Surprisingly, loan-to-value ratios are either insignificant or influence default times in a counter-intuitive direction.     

Education, Work and Wages in the UK

Abstract. This paper is concerned with the relationship between education, wages and working behaviour. The work is partly motivated by the sharp distinction in the literature between the returns to education and the effect of wages on labour supply. Education is the investment that cumulates in the form of human capital while labour supply is the utilization rate of that stock. Yet, variation in education is usually the basis for identifying labour supply models – education is assumed to determine wages but not affect labour supply. Moreover, it is commonly assumed that the private rate of return to education can be found from the schooling coefficient in a log-wage equation. Yet, the costs of education are largely independent of its subsequent utilization but the benefits will be higher the greater the utilization rate. Thus the returns will depend on how intensively that capital is utilized and we would expect that those who intend to work least to also invest least in human capital. Indeed, the net (of tax liabilities and welfare entitlements) return to education will be a complex function of labour supply and budget constraint considerations.
Here we attempt to model the relationship between wages, work, education and the tax/welfare system allowing for the endogeneity of education as well for the correlations between the unobservable components of wages and working behaviour. We use the estimates to simulate the effect of a new UK policy designed to increase education for children from low-income households.     

中国各地区集约经济运营绩效的DEA评价

DEA方法是进行相对有效性评价的一种方法。其最先提出并被广泛应用的C2R模型可同时判断决策单元是否同时满足技术有效和规模有效。通过利用DEA模型对我国30个地区的集约经营效率进行了分析评价,并探讨了制约我国各地区集约经济发展的重要因素及其对策问题。     

人民币汇率问题:升值及其成本—收益分析

在回顾改革开放以来人民币汇率变动的基础上,本文首先讨论了汇率升值的短期压力和长期压力,前者源自内外经济失衡和双顺差的持续,后者由于劳动生产率的提高和经济竞争力的增强,认为目前宏观经济失衡主要表现为实体经济和货币经济的两个双向循环和双向依赖;测度了中国的外商直接投资函数和进出口函数及其汇率弹性,估算了不同幅度汇率升值的成本,主要包括引进外资和出口贸易减少的数量,以及由此带来的GDP和就业人数减少的规模,发现三个季度后,升值的影响下降一半以上,七个季度以后,升值的影响近于消失。并据以对可选择的升值幅度和操作方式提出了政策建议     

Estimating spatial differences in the Brazilian cost of living with household location choices

This paper uses a model of optimal household residential decisions to construct a comprehensive “true” spatial cost of living index with readily available Brazilian census data. We find evidence of a decreasing or U-shaped relationship (differing with education level and region) between the cost of living and urbanization, suggesting that both market disintegration and congestion play roles in raising costs. Controlling for spatial differences in the cost of living is shown to have important consequences for the determinants of poverty and (contrary to many previous results) to increase income inequality.     

高校智力资本运作效率的数据包络分析

文章在综合分析高校智力资本的基本概念和主要内容的基础上，提出了用数据包络分析方法评价高校智力资本运作效率的基本思路与方法，并以8所高校在同一学科中的智力资本运作情况为算例，对数据包络分析的算法和所使用的计算工具作了说明。     

Child labor,urban proximity,and household composition

Using detailed survey data from Nepal, this paper examines the determinants of child labor with a special emphasis on urban proximity. We find that children residing in or near urban centers attend school more and work less in total but are more likely to be involved in wage work or in a small business. The larger the urban center, the stronger the effect is. Urban proximity is found to reduce the workload of children and improve school attendance up to 3 h of travel time from the city. In areas of commercialized agriculture located 3 to 7 h from the city, children do more farm work. Urban proximity effects are accounted for by a combination of local labor supply and demand conditions, most notably the local importance of agriculture, the education level of the parents, and the local wage rate. Child servants, which represent a small proportion of all children, work much harder than other children and appear particularly at risk.