美联储金融监管体制、影响及其启示

长期以来,美联储从本国利益出发制定经济监管政策,在美国和世界经济体系中创造了过量的信用,导致美元在全世界泛滥,美国人放弃储蓄,过度投资和消费;美国主体经济从制造业转向了非出口服务业;美国的债务,不管是从国家角度还是从个人角度都达到了前所未有的高度,这一切最终演变成了这次全球金融危机.对于中国这样的经济大国,一定要从中吸取教训,扬长避短,并建立科学发展的核心价值观.     

Investment behaviour in transition countries and computable general equilibrium models

When applying Computable General Equilibrium (CGE) models to transition economies, it is not plausible to use the standard assumption that the base year data represent stable structural characteristics or even the steady state of the economy. The suggestions forwarded until now to overcome this problem are discussed in this article. An amendment is proposed by modifying the investment modelling within the dynamic CGE setting. The standard formulation of installation costs for capital is extended through the inclusion of adjustment costs that depend on the change of the investment level. Such formulation of the adjustment costs within the dynamic CGE model leads to an investment behaviour that mirrors the empirical data of the first years of the transition.