Policy responses to an overheated housing market: Credit tightening versus transaction taxes

Among Asian economies, Hong Kong has experienced the highest real growth in house prices since the 2010s. Two macroprudential measures, namely credit tightening (loan-to-value ratio cap) and transaction taxes (stamp duty), were introduced to cool down the overheated housing market. This study examines and compares their effectiveness based on a set of constant-quality house price indices. Through an error correction model, we find that credit tightening was able to curb house price growth in the high-price segment, while transaction taxes could not. An explanation is that the exemptions from transaction taxes for those with genuine housing needs could be abused by other market participants. It is easier for buyers to exploit the exemptions to get around the stamp duty than to manipulate the property valuation for mortgage lending. The implication is that the effectiveness of macroprudential measures hinges on whether compliance or exemption can be easily monitored and enforced.     

Does economic policy uncertainty affect cryptocurrency markets? Evidence from Twitter-based uncertainty measures

Using daily data from August 9, 2015, to July 7, 2020, this study examines the effects of economic policy uncertainty (EPU) on the returns of four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Ripple. To this end, two new measures of EPU (Twitter-based economic uncertainty and Twitter-based market uncertainty) are considered. A Granger causality test using the recursive evolving window approach shows a significant causality between the Twitter-based EPU measures and the BTC/USD exchange rate from October 2016 to July 2017. Moreover, a significant causality was noted from the EPU measures to the ETH/USD exchange rate from June 2019 to February 2020 and from the EPU measures to the XRP/USD exchange rate from January 2020 to February 2020. The Twitter-based EPU measures primarily positively affect the returns of the related cryptocurrencies during these periods. These results are robust to different measures of Twitter-based EPU and different econometric techniques. Potential implications, including the COVID-19 era, are also discussed.     

燃煤锅炉改造问题及节能环保改造措施

在现代社会的发展中,燃煤锅炉是工业发展中常用的供暖设备、供热设备,尤其在北方地区得到了十分广泛的应用。但是,在使用燃煤锅炉过程中,一定区域内会产生很多燃煤灰尘、SO2气体,现已成为很多地区的大气污染源之一。为了有效控制燃煤锅炉污染物排放量,相关部门需要实行烟气除尘、脱硫方式,做好燃煤锅炉节能改造工作,减少大气污染物的排放量。论文重点分析了燃煤锅炉改造问题及节能环保改造措施。     

浅谈如何做好建设工程项目成本控制

随着经济的快速发展,越来越多的建设工程项目出现在人们的视野中,建筑市场的竞争愈演愈烈,工程项目利润空间逐渐缩小。因此,建设工程项目成本控制的重要性日益凸显。论文介绍了建设工程项目成本控制需要遵循的原则,分析了建设工程项目成本管理存在的问题,探讨了建设工程项目成本控制的措施。     

10kV变电所工作和运行安全的管理

本文在系统研究10kV变电所实际运行情况的基础上,阐述了一种有效的安全管理机制,即安全管理两票三制制度体系。     

水平岩层隧道支护体系加固措施及施工工艺研究

合理的设计支护体系及合理的选择施工技术,可以节约支护成本,本隧道水平岩层的设计加固措施及施工工艺研究将为提高水平岩层隧道整体设计与施工技术水平和确保工程质量,提供理论依据和技术保障。     

立式燃煤蒸汽锅炉炉胆鼓包典型事故分析

本文针对一起立式燃煤蒸汽锅炉炉胆鼓包变形事故,通过现场检验及材料金相,分析产生的原因,提出相应的预防措施。     

河南省农村生态环境的问题与对策分析

农村生态环境建设对于提高农村经济发展水平具有重要意义。文章通过实地调研结合文献分析的方法,对河南省农村环境发展现状进行调研,探讨了河南省农村生态环境存在的主要问题包括水资源短缺、耕地总量下降并伴随土壤退化、森林覆盖率下降、水土流失严重等。该文从政治学层面、社会学层面以及经济学层面系统地阐述了问题形成的原因,并从增强生态环境安全意识、转变农村发展方式、完善相关法规政策、推动科技创新等方面提出了促进河南省农村生态建设的对策措施,旨在为我国农村生态环境良好发展提供理论基础和现实依据。     

北京市五星级酒店食品安全现状分析

本文以五星级酒店为研究对象,分析五星级酒店存在的食品安全问题,并针对这些问题提出解决对策,以期保证酒店餐饮食品安全,提高五星级酒店服务质量。     

建筑工程成本控制措施分析

随着我国城镇化发展步伐的加快,建筑业企业之间的竞争越来越大,企业之间的盈利空间越来越小,对此建筑企业如何通过有效的管理措施降低建筑工程的成本支出成为建筑企业发展与扩大的重要措施。本文通过对建筑工程成本控制的特点分析,探讨如何提高我国建筑工程成本控制的措施,实现建筑工程的效益最大化。