水资源资产负债表编制主体及作用研究

从水资源资产负债表编制及水资源资产管理的需求出发,探讨了现行以区域为主体编制水资源资产负债表的局限。在此基础上,根据我国的水行政管理体制,从国家(水利工程管理部门、河道及流域)、区域、企业3个层面出发,系统探索多元水资源资产负债表编制主体,并从反映水资源资产开发与管理目标、揭示水资源资产供给与需求之间的关系、提升水资源资产化水平、决策区域未来产业规划及发展方向等方面分析不同主体编制水资源资产负债表的作用。该研究有利于进一步推动水资源资产负债表的编制工作,满足提升我国水资源资产化管理水平、完善国民经济核算体系、引入领导干部自然资源资产离任审计及生态文明建设的需求。     

Assessing the efficacy of borrower-based macroprudential policy using an integrated micro-macro model for European households

We develop an integrated micro-macro model framework that is based on household survey data for a subset of the EU countries that the Household Finance and Consumption Survey (HFCS) contains. We use the model for the purpose of assessing the efficacy of borrower-based macroprudential instruments, namely loan-to-value (LTV) ratio and debt service to income (DSTI) ratio caps, and illustrate its outcome for four European countries. The simulation results from the model can be attached to bank balance sheets and their risk parameters to derive the impact of the policy measures on their capital position. The model framework also allows quantifying the macroeconomic feedback effects that would result from the policy-induced reduction of demand for mortgage loans. An assessment as to the comparative efficacy of LTV- versus DSTI-based policy suggests that DSTI caps may be more effective in containing household risk.     

财政赤字规模应把握社会承受力限度

平衡财政赤字有举债和银行透支两个途径，二者可兼用。举债要视当期财政收入状况为前提，银行透支超越社会承受力一定限度将致发通胀。因此，必须关注财政赤字规模的社会承受力。从全国看，财政赤字规模---一定限量银行透支应以一定限量社会闲置货币资金的存在---社会承受力为依托。财政赤字宜用积极手段平衡。     

均衡视角下集体化转型对中小企业劳动关系的影响研究

当前我国劳动关系出现集体化新趋势,这必将对中小企业劳动关系产生深远影响。为适应新趋势,中小企业首先要进一步规范个别劳动关系,并在此基础上逐步构建适合中小企业特点的集体劳动关系,同时要在理念、方式和机制上进行变革。     

对财政专户问题的研究:以国库为视角

本文从财政专户的产生及其演变过程出发,当前财政专户存在着数量大、种类多、沉淀资金量可观等几大特点,提出当前财政专户存在着开设必要性不足、同一资金性质多头开户、影响货币政策执行效果及财政资金风险加大四大问题,进而在原因剖析的基础上针对性地从制度制定层面、监管执行层面、国库服务能力提升方面及地方国库现金管理试点方面提出了相关对策及建议,以供参考.     

Are Current Account Deficits in the OECD Countries Sustainable? Robust Evidence from Time-Series Estimators

This study examines the sustainability of current account deficits (CADs) and validity of intertemporal budget constraint (IBC) for 24 OECD countries. While the OLSEG, ML system, and OLSGH estimates of the model do not provide support, the GMM, DOLS, and NLLS estimates provide consistent support for the sustainability of CADs across most countries. The estimates of the model with multiple structural breaks reinforce the sustainability of CADs. The results provide dominant support for the sustainability of CADs and validity of IBC across most countries. The CADs are only short-run phenomena and are balanced by future surpluses.     

All of work? All of life? Reconceptualising work‐life balance for the 21st century

This paper argues that the study of work‐life balance to date has, in the main, adopted a restricted conception of both “work” and “life”, which does not take account of recent developments in life worlds, working arrangements and employment relationships. “Life” has hitherto been viewed as largely comprising caring activities for dependent children, whereas “work” has been premised largely on a traditional model of work, characterised by full‐time, permanent employment with one employer and a conventional understanding of what work involves. This means that extant research and theory only provides a partial view of the work‐life needs and experiences of the workforce. In the paper, we propose extending conceptions of both work and life to incorporate different life worlds and social groups and different working arrangements and employment relationships.     

The role of corrosive internalisation and denial of responsibility in stabilising inequality in South Africa

ABSTRACT

This paper examines how capabilities inequality is stabilised through its consequences on those at both ends of the distribution. It outlines the development of the balance model, which is argued to help highlight these consequences. Specifically, how adverse environments associated with lack of access to resources and poor treatment can lead to internal consequences which further corrode capabilities. At the same time, denial of this corrosion or its importance is critical for those who benefit from the inequality. To avoid moral constraints being triggered it is important, necessary even, for them to see those who suffer as outside of their moral universe, or their suffering to be in no way associated with their advantage. Corrosion and denial work to stabilise the system. For those in the middle of the distribution, they may work to do so in combination. Appreciating these internalised consequences is key to addressing inequality in South Africa.     

FX Intervention in the New Keynesian Model

We develop an open-economy New Keynesian Model with foreign exchange (FX) intervention in the presence of a financial accelerator and shocks to risk appetite in international capital markets. We obtain closed-form solutions for optimal monetary and FX intervention policies assuming the central bank cannot commit to future policies, and we compare the solution to that under policy commitment. We show how FX intervention can help reduce the volatility of the exchange rate, of inflation, and of the output gap, thus mitigating welfare losses associated with shocks in the international capital markets. We also show that, when the financial accelerator is strong, there is a risk of indeterminacy (self-fulfilling currency and inflation movements) although FX intervention can reduce this risk and thus reinforce the credibility of the inflation targeting regime. Model simulations match well the impact of a VIX shock obtained by local projections on a panel of inflation targeting emerging markets.     

Organisational regulatory legitimacy,entrepreneurial orientation,and SME innovation: an optimal distinctiveness perspective

The optimal distinctiveness perspective argues that firms face competing pressures to be both ‘like’ and ‘different from’ their peers. On the one hand, institutional scholars assert that firms need to be similar to peers in order to gain legitimacy. On the other hand, strategy scholars insist that firms need to strive to be different to gain competitive advantage. In order to enrich the optimal distinctiveness perspective, the present study builds a conceptual model that addresses the relationships among organisational regulatory legitimacy, entrepreneurial orientation, and SME innovation under the context of China’s transition economy. Our empirical results show that organisational regulatory legitimacy has an inverted-U relationship with SME innovation. Further, entrepreneurial orientation strengthens this inverse-U shaped relationship. That is, entrepreneurial orientation magnifies both the positive and the negative effect of organisational regulatory legitimacy on SME innovation. This study echoes to the call to conduct broader optimal distinctiveness research by integrating institutional theory and strategic management. Furthermore, our findings provide new evidence for the strategic balance perspective of optimal distinctiveness.