中美贸易背后的利益分析

文章首先介绍了中美贸易的不平衡发展，然后重点分析了在中美贸易中的贸易利益流向和对双方的经济影响，进而找到解决此问题的积极可行的对策。     

Poverty Traps, Indeterminacy, and the Wealth Distribution

We consider a one-sector growth model in continuous time with a production externality and endogenous labor supply. There is a continuum of households who have identical preferences but differ with respect to their initial wealth. We show that there exist economies such that an indeterminate steady state exists for some wealth distribution but not for others. A second result is that a redistribution of wealth may drive the economy from a steady state with strictly positive output to a poverty trap in which output converges asymptotically to zero. These results indicate that differences in the wealth distribution may be responsible for drastic differences in the long-run standard of living. Journal of Economic Literature Classification Numbers: D31, D50, O41.     

我国西部欠发达地区发展生态工业的分析与思考

针对我国西部欠发达地区日益突出的生态环境问题,发展生态工业已成为构建和谐社会的重要举措。本文选取有代表意义的民族八省区作为西部欠发达地区的典型进行模拟预测,提出发展生态工业是协调贫困地区经济发展与环境状况关系的必要手段。     

风景区周边地区发展旅游业与脱贫致富--以南川市三泉镇大河坝村为例

章以国家级风景名胜区重庆金佛山周边地区的大河坝村为例，从理论和实践上阐述了风景名胜区周边地区发展旅游与其脱贫致富互动关系及其产生的效应，分析了金佛山风景区周边地区发展旅游脱贫致富的现状及存在的问题，提出了将大河坝村建设成为发展旅游脱贫致富奔小康综合开发示范区的措施与对策。     

贫困线测定方法研究

马丁法是符合我国实际的贫困线测定方法 ,依据马丁法可科学测定食物贫困线、非食物贫困线、低贫困线和高贫困线。     

Planning Your Own Debt

We model the Danish market for mortgage backed securities with a two-factor interest rate model and use a stochastic programming approach to analyse how an individual home-owner should initially compose and subsequently readjust his mortgage in an optimal way. Results show that the 'rules of thumb' used by financial institutions are reasonable, although best suited for more aggressive mortgagors, for whom the delivery option is of some value. More risk-averse investors should also re-adjust frequently, but use more diversified portfolios. Results are insensitive to whether a one- or two-factor model is used, provided the former is suitably calibrated.     

Term Structures in the Office Rental Market in Stockholm

This paper contains an empirical study of the rental term structure in a property market that included a dramatic boom and bust cycle. The study is applied to office leases in commercial properties located in Stockholm CBD, Sweden. The time period under study is 1977–1991. The number of observations (lease contracts) that we were able to make full use of in the regression analyses is n=861. For seven out of fifteen years studied, a significant term structure was observed. The estimated hedonic rent equation was also used to construct an office rental index.     

Consistency conditions for affine term structure models

Sufficient conditions for the application of the Feynman-Kac formula for option pricing for wide classes of affine term structure models in the jump-diffusion case are derived by generalizing earlier results for bond pricing in the pure-diffusion case The author is grateful to Mikhail Chernov and Darrel Duffie for useful discussions and suggestions.     

我国股份制商业银行薪酬激励有效性研究

我国股份制商业银行薪酬激励存在一些不足，原因在于薪酬激励的自身因素和薪酬环境因素两方面。自身因素主要包括忽视长期行为激励、缺乏同业竞争优势、轻视普通员工激励；环境因素主要有银行治理结构不完善、市场非充分有效、法规制度不健全等。本文通过对商业银行高管人员及普通员工的薪酬与业绩相关性进行实证检验，认为我国商业银行薪酬激励基本上是有效的，但是其有效性并不十分理想。据此，本文提出了提升我国商业银行薪酬激励有效性的具体建议：从微观层面看，优化薪酬激励机制：从中观层面看，强化商业银行治理结构；从宏观层面看，改善外部相关环境。