The spillover effects of biofuel policy on participation in the conservation reserve program

This paper studies the spillover effects of rising biofuel production on participation in the Conservation Reserve Program. Landowner participation decisions are modeled using a real options framework. We develop a land use decision model that captures biofuel-driven structural changes in market demand and derive threshold conditions that trigger participation in the program. We then quantify the impacts of biofuel production on participation at both the national and state levels using Monte Carlo simulations. The model is also used to analyze how changes in the persistence of the biofuel production boom and in the volatility of farming returns affect conservation participation decisions. Policy implications of the results are discussed.     

The willingness of heritage tourists to pay for perceived authenticity in Pingxi,Taiwan

Authenticity plays an important role in heritage tourism. Previous studies have employed secondary data to assess the value of authenticity. This study goes further and empirically measures the intrinsic value of authenticity directly by integrating both qualitative and quantitative methods. The study was conducted in Pingxi, Taiwan and used open-ended questions to guide respondents to construct their own perceived authenticity. The respondents were asked whether they were willing to pay for what they had described. Four hundred and three valid responses were obtained. By using the dichotomous choice method and logistic distribution function, the willingness to pay (WTP) was estimated as NT$233. The study compiled 15 items to measure perceived authenticity based on previous literature and on-site visitor surveys. Three factors were derived by employing exploratory factor and confirmatory factor analyses. Discriminant analysis showed that intra-personal authenticity has a greater impact on WTP than object-related and inter-personal authenticity. This study might be the first empirical study to propose three independent concepts of authenticity, and to estimate the intrinsic value of perceived authenticity. The paper concludes suggestions that contribute both to theories of authenticity and applications by heritage management agencies.     

皖南山区养老状况和养老机制研究——以黄山市黟县四镇为例

通过对安徽黄山黟县四镇进行实地调查,分析总结出皖南山区养老的基本情况,提出了优化皖南山区农村养老机制的设想。     

政府促进农民工就业机制研究——以保定市为例

农民工为我国的社会主义建设做出了巨大的贡献,但农民工的权利和利益长期被忽视,产生了一系列社会问题。尤其是2008年全球金融危机的爆发,大量农民工返乡,出现了大规模的农民工就业难题。为此,本文结合保定市农民工就业的具体情况,探讨政府促进农民工就业的长效机制。     

以求真务实创新的精神统领工会工作

从态度、手法及作风等三方面探究如何以求真务实创新的精神指导工会工作。     

知识经济与高校图书馆的发展

通过阐述知识经济的有关问题及高等院校在知识经济中的重要地位，论述知识经济给高校图书馆带来的发展机遇．并对未来高校图书馆的发展趋势进行分析，提出当前应当采取的对策。     

MCMC ESTIMATION OF LÉVY JUMP MODELS USING STOCK AND OPTION PRICES

We examine the performances of several popular Lévy jump models and some of the most sophisticated affine jump‐diffusion models in capturing the joint dynamics of stock and option prices. We develop efficient Markov chain Monte Carlo methods for estimating parameters and latent volatility/jump variables of the Lévy jump models using stock and option prices. We show that models with infinite‐activity Lévy jumps in returns significantly outperform affine jump‐diffusion models with compound Poisson jumps in returns and volatility in capturing both the physical and risk‐neutral dynamics of the S&P 500 index. We also find that the variance gamma model of Madan, Carr, and Chang with stochastic volatility has the best performance among all the models we consider.     

基于ARDL模型的我国固定资产投资与经济增长关系的统计分析

文章基于动态建模思想,对我国投资与经济增长的关系进行统计分析。由1980—2006年的样本数据验证得到二者存在长期显著的双向关系,进一步建立ARDL模型,量化并分析了固定资产投资与GDP之间的长期影响系数。     

收入分配与经济增长关系研究综述

收入分配与经济增长之间的关系是经济发展过程中的重要问题之一,尤其是我国现阶段收入分配差距不断拉大,人们对此问题更为关注。因此,文章对收入分配与经济增长关系的研究成果进行了综述,以便使相关研究成果较为清晰地展现在读者面前。     

China to strengthen regulation of listed securities companies

Chinese Central Bank Governor Zhou Xiaochuan urged for international financial reforms in the face of the global economic downturn.