Heteroskedasticity-consistent covariance matrix estimators for spatial autoregressive models

In the presence of heteroskedasticity, conventional test statistics based on the ordinary least squares (OLS) estimator lead to incorrect inference results for the linear regression model. Given that heteroskedasticity is common in cross-sectional data, the test statistics based on various forms of heteroskedasticity-consistent covariance matrices (HCCMs) have been developed in the literature. In contrast to the standard linear regression model, heteroskedasticity is a more serious problem for spatial econometric models, generally causing inconsistent extremum estimators of model coefficients. This paper investigates the finite sample properties of the heteroskedasticity-robust generalized method of moments estimator (RGMME) for a spatial econometric model with an unknown form of heteroskedasticity. In particular, it develops various HCCM-type corrections to improve the finite sample properties of the RGMME and the conventional Wald test. The Monte Carlo results indicate that the HCCM-type corrections can produce more accurate results for inference on model parameters and the impact effects estimates in small samples.     

Industry risk transmission channels and the spillover effects of specific determinants in China’s stock market: A spatial econometrics approach

This paper uses a spatial econometrics approach to study the industry risks in China’s stock market. We comprehensively consider the real linkage and information risk transmission channels and analyze the risk spillovers of specific determinants. Our empirical results show the following: 1) The real linkage channel and information channel are both effective transmission channels for driving spillover effects, and the information channel is of the utmost importance. 2) The spillover effects of specific determinants exist and are persistent. The superposition of spillover effects may lead to extreme risk. 3) The transmission channels and spillover effects are asymmetric in different regimes.     

城镇群空间结构与要素集聚

依据城镇化发展过程中要素空间集聚理论，展开区域经济发展的空间经济结构研究。通过城市引力、克鲁格曼指数计算，比较分析城镇群内部城市吸引力和城市产业分布的差异性，通过人口与生产空间分布集中度指标和不一致系数的测算，分析了山西省城镇群空间要素集聚效应。研究表明，山西省的城镇群规划与要素空间集聚趋势整体一致，城市间产业分工体系基本形成，城镇群的要素集聚效应明显，但人口与生产分布仍存在不一致性。研究认为，山西省城镇群发展应该继续明确各城市的产业分工和特色，引导劳动力和资本要素的合理流动，实现人口与生产空间分布的一致。     

资本外逃的经济效应与应对政策选择研究

资本外逃是一个复杂的经济问题,是由多种原因造成的,并会给一国经济发展带来不可估量的风险和损失。基于此,论文梳理了资本外逃的研究现状,提出了资本外逃所产生的经济效应,在此基础上,提出了资本外逃的政策选择,为一国在治理资本外逃时提供了政策选择和借鉴。     

农作物面积抽样单元空间变异性及其对抽样外推效率的影响

［目的］联合遥感和传统抽样方法的空间抽样技术是进行大区域农作物面积监测的有效手段。但传统抽样要求抽样单元间相互独立，并未考虑到区域农作物空间变异性的存在对农作物面积空间抽样效率是否有影响及其影响程度如何，从而限制了农作物面积监测的效率和精度。［方法］文章以吉林省德惠市为研究区，利用变异函数分别对10种抽样单元尺度内玉米和水稻种植面积的空间变异性进行定量评价。选择3种空间抽样方案（简单随机抽样、系统抽样、分层抽样），分别计算不同空间变异程度下的样本容量（n）、抽样相对误差（Re）和总体总值估计量的变异系数（CV（Y︿））作为空间抽样效率的评价指标，定量分析空间变异性对农作物面积空间抽样效率的影响，提出适宜空间变异农作物的空间抽样优化方案。［结果］(1)玉米和水稻面积的空间变异性（反映为基台值C0+C）均随着抽样单元尺度的增加逐渐而减小，其中500m×500m和2 500m×2 500m抽样单元尺度下农作物面积的空间自相关程度相对最小。(2)相同抽样比下，农作物面积在3种抽样方法下的相对误差和变异系数均随着空间变异性的减小（抽样单元尺度增加）逐渐增大，其中玉米和水稻在分层抽样条件下的相对误差和变异系数具有相对最小值，分别限制在10%和20%以内，其次为系统抽样（Re<40%，CV（Y︿）<88%）和简单随机抽样（Re<50%，CV（Y︿）<75%）。 在抽样方法被选定的情况下，两种农作物的分层抽样相对误差变化率随着抽样比的增加迅速降低，当抽样比增至5%时，其相对误差和变异系数的变化率基本趋于稳定，继续增加抽样比来提高抽样精度的效果甚微。 在3 500m×3 500m抽样单元尺度内，按5%抽样比确定的样本容量对玉米和水稻面积进行分层抽样时，可达到95%的抽样精度（Re<5%）。 综合农作物在不同抽样单元尺度下的空间变异特征和空间抽样效率，基于2 500m×2 500m的抽样单元尺度和5%抽样比进行分层抽样的空间变异性农作物空间抽样方案是一种高精度、低成本、代表性强的空间抽样方案。［结论］该研究为区域农作物面积抽样调查方法的改善和抽样效率的提高提供技术支持和参考依据。     

Risk spillover between Bitcoin and conventional financial markets: An expectile-based approach

In order to challenge the existing literature that points to the detachment of Bitcoin from the global financial system, we use daily data from August 17, 2011–February 14, 2020 and apply a risk spillover approach based on expectiles. Results show reasonable evidence to imply the existence of downside risk spillover between Bitcoin and four assets (equities, bonds, currencies, and commodities), which seems to be time dependent. Our main findings have implications for participants in both the Bitcoin and traditional financial markets for the sake of asset allocation, and risk management. For policy makers, the findings suggest that Bitcoin should be monitored carefully for the sake of financial stability.     

中国旅游景区功能演变与用地分类构想

研究目的:基于中国旅游景区功能演变、用地特征及问题分析,构建旅游景区用地分类体系,以期为旅游景区用地纳入区域土地利用提供理论基础,为旅游景区规划的深度编制提供实践依据。研究方法:通过调研和问卷厘清现状景区用地情况,对比借鉴相关用地分类体系,基于此构建旅游景区用地分类方案。研究结果:分析并阐明了旅游景区的功能演变、用地特征和现状问题,构建了2大类、9中类、28小类的景区用地分类体系,并与《土地利用现状分类》进行衔接。研究结论:建立可衔接且具可操作性的旅游景区用地分类体系,是实现旅游景区健康可持续发展与用地规范化管控的关键。     

How much are electric vehicles driven?

The prospect for electric vehicles as a climate change solution hinges on their ability to reduce gasoline consumption. But this depends on how many miles electric vehicles are driven and on how many miles would have otherwise been driven in gasoline-powered vehicles. Using newly-available U.S. nationally representative data, this paper finds that electric vehicles are driven considerably fewer miles per year on average than gasoline-powered vehicles. The difference is highly statistically significant and holds for both all-electric and plug-in hybrid vehicles, for both single- and multiple-vehicle households, and both inside and outside California. The paper discusses potential explanations and policy implications. Overall, the evidence suggests that today’s electric vehicles imply smaller environmental benefits than previously believed.     

Technological leadership and sectorial employment growth: A spatial econometric analysis for U.S. counties

This paper studies the determinants of technological catch‐up considering spatial and sectoral aggregation of industries. We investigate how geographical and technological proximity to the technology leader impact regional employment growth. We model technological progress by means of a hierarchical process of catch‐up to the technology leader. We also incorporate measures for knowledge spillover effects to test the roles of competition, specialisation, and diversity at the industry level. Empirical results using data at the county level for different economic sectors (2‐dig NAICS) for the United States indicate that human capital plays a crucial role in promoting sectoral employment growth. The association between technological/geographical distance to the technology leader and employment growth varies across sectors.     

老龄化与碳排放：消费效应还是生产效应？——基于2002-2017年中国省级面板数据的实证研究

人口老龄化是经济增长的一大阻碍,它对碳排放的影响是做出环境政策抉择的关键因素.以中国2002—2017年的省级面板数据为研究样本,从理论与实证两个层面分析人口老龄化与碳排放的关系及影响机制.一方面,构建包含碳排放的世代交叠模型(overlapping generations,OLG),发现老龄化主要通过消费效应和生产效应两个路径对碳排放产生影响;另一方面,从实证层面发现老龄化与碳排放之间存在倒"U"形关系,而且消费效应在人口老龄化与碳排放的关系中起到部分中介作用,生产效应的影响则不显著.