Econometric analysis of price index for home video cassette recorders in the U.S., 1978-1987

This paper conducts an empirical analysis on the U.S. VCR market using a hedonic approach. The paper finds that quality-adjusted price indices decline at 11-12% per year, with a large annual drop of about 18% from 1982-85. Estimation and data analysis reveal interesting aspects of the evolution of quality and price in the VCR market. As a result of the exclusion of the VCR category until 1986, the paper estimates a bias of 2.4% per year in the CPI electronics subindex.     

构建以绩效为核心的高校财务分析指标体系的思考

现行的财务分析方法己经不能完全适应高等教育发展和各项改革的要求。为了充分利用现有的财务和会计数据,全面系统地分析高等学校的资金使用效益,分析和比较学校的办学效益,检查和监测学校的财务风险,本文建立了以绩效为核心的高校财务分析体系,以全面系统的分析高等学校办学效益和财务状况。     

关于物流税收指标体系与政策的探讨

物流业作为新兴的生产性服务业已成为推动经济发展的加速器.税收政策是调整和振兴物流业最重要的政策杠杆,也是物流企业最为关心的政策问题,本文通过分析物流税与税率体系与指标分析含义,中外物流税与税率体系发展,分析新旧物流税优点与不足、税率体系与指标比较,针对物流税与税率体系及指标提出了促进我国物流业发展的相关建议。     

Validation of the Bowel Function Index to detect clinically meaningful changes in opioid-induced constipation

Abstract

Objective: The Bowel Function Index (BFI) is a clinician-administered, patient-reported, 3-item questionnaire to evaluate opioid-induced constipation in cancer and non-cancer chronic pain patients. The objective of the present analysis was to evaluate the psychometric characteristics of the BFI using data from clinical studies of oral prolonged release (PR) oxycodone/naloxone.

Methods: OXN2401 was a multicenter, controlled, randomized, double-blind, parallel-group study including oral PR oxycodone combined with oral PR naloxone as well as oral PR oxycodone combined with corresponding naloxone placebo. OXN3401 and OXN3001 were 12-week multicenter, controlled, randomized, double-blind, parallel-group studies of a fixed combination of oral PR oxycodone/naloxone versus PR oxycodone. In addition, a placebo group was included in study OXN3401. BFI psychometric characteristics (reliability, reproducibility, convergent/known groups validity, and responsiveness) were evaluated.

Results: Demographic data (n=985) were comparable and analyses indicated a high degree of internal consistency (Cronbach's alpha >0.7). Change of less than 5 points in BFI was indicative of high reproducibility. Correlations between BFI item and total scores to stool frequency were statistically significant and in the low-to-moderate range (OXN2401 –0.23 to –0.29, p < 0.001; OXN3401 range –0.26 to –0.40, p < 0.001; OXN3001 –0.14 to –0.15, p < 0.05). Data indicate that a BFI score change of ≥12 points represents a clinically meaningful change in constipation.

Limitations: This publication for validation of BFI only includes data from three clinical trials. However, another publication of an additional specifically designed cross-sectional validation study is in preparation.

Conclusion: The BFI is a valid and reliable instrument for the assessment of opioid-induced constipation in chronic pain patients. Psychometric analyses from clinical trials support the BFI's psychometric properties.     

Demand system estimation in the absence of price data: an application of Stone-Lewbel price indices

This article evaluates the feasibility of estimating a system of demand equations in the absence of price information using the approach developed by Lewbel (1989). Stone-Lewbel (SL) price indices for commodity groups are constructed using information on the budget shares and the Consumer Price Indices (CPIs) of the goods comprising the commodity groups, which allows for household-level prices to be recovered. This study evaluates how susceptible are elasticities and marginal effects estimates from traditional parametric demand systems to the CPI used in the construction of the SL prices. To do this, three alternative regional CPIs are considered for the construction of the SL prices: monthly, quarterly and a constant (unity) price index. Elasticities and marginal effect estimates are computed for eight food commodity groups using the Exact Affine Stone Index (EASI) model as the parametric demand system and data from the United States Consumer Expenditure Survey. The estimates proved to be robust to the alternative regional CPIs considered in the construction of SL price indices, even to the absence of one. Hence, the results suggest that it is possible to accurately estimate a demand system even in the absence of price information.     

Pareto Index Estimation Under Moderate Right Censoring

Real claim data sometimes are censored from above at a high value induced by the sum insured. In this note we examine the behaviour of extreme-value methods in such settings and propose an adaptation of the popular Hill (1975) estimator. It is argued that the censoring typically cannot exceed 5% for an effective use of the methods suggested.     

国际金融中心竞争力比较研究

目前的国际金融中心格局发生了重大变化，国际金融中心之间的竞争更为激烈。各金融中心所处位置发生了较大变化，高层级与底层级国际金融中心之间的差距有所拉大，亚洲地区金融中心的竞争力逐步提高。各国际金融中心提高竞争力的经验有所差异，但主要包括放松管制、金融创新、金融基建与政府推动。     

我国经济发展指标体系的构建与应用研究——基于经济发展的数量与质量角度

经济增长与经济发展是经济学中的两个重要概念,本文把单纯的经济增长划归为经济发展的数量方面,将经济发展分为数量与质量两个方面,并基于这个划分角度构建了经济发展指标体系,提供了构建经济指标体系的一个新视角。同时,本文利用该经济发展指标体系对我国1978～2009年的宏观经济数据进行实证研究,刻画了我国经济发展全貌的变动趋势,为经济发展方面的研究提供了一个全局地图。     

基于衍生型环境BSC的绩效评价指标体系设计——以石化企业为例

衍生型环境BSC的构建使环境管理对经济成功贡献之间所暗存的"因果关系"更明晰化、可视化,为促进企业成功实施环保战略提供了管理工具和方法。在国内外相关文献的理论指导下,探讨了衍生型环境BSC的绩效评价指标体系的构建路径和基本架构。把环保战略转化为因果关系耦合的目标和指标,是构建衍生型环境BSC绩效评价指标体系的重要依据。衍生型环境BSC需要从四个维度——财务、客户、内部流程和学习与成长——挖掘与环境相关的内容。结合石化企业的行业背景和企业资料进行了案例分析,为其构建衍生型环境BSC提供一种思路和框架。     

Quote inefficiency in options markets

In an arbitrage-free economy with non-zero bid-ask spreads the existence of payoffs whose price is lower than the price of a dominated payoff cannot be discarded in general. However, when the former price corresponds to trivial portfolios which involve buying or selling one unit of the basis assets, its presence, although not an arbitrage, is a severe market anomaly which we refer to as an inefficient quote. In an empirical study, we report evidence that indicates that in options markets both the frequency and the magnitude of these anomalies are substantial and we document puzzling patterns in their behavior.