Fisher's Introductory Text

A bstract .   In this essay, James Tobin discusses Fisher's Elementary Principles of Economics (1912 ). This essay was first published in the American Economic Review: Papers and Proceedings , 87 (May 1997): pp. 430–432. We are grateful to the American Economic Association for permission to republish this essay.     

标准化引领海西物流发展——建设海峡西岸经济区的首要任务

海西物流是建设海峡西岸经济区的支撑,建设海峡西岸经济区的首要任务是加快发展海西物流。同时,建设海峡西岸经济区为海西物流发展及为海峡两岸物流业深化合作提供战略机遇。标准化是物流业发展的保障,海西区域物流标准化必须依托国家物流标准化;海峡两岸物流标准化必将成为今后我国物流标准化建设的重要内容。     

长江经济带工业绿色发展效率测度 ——基于考虑指标偏好的广义DEA模型

文章以中国长江经济带11个省市为研究对象,构建工业绿色发展指标体系,运用考虑指标偏好的广义DEA模型对长江经济带工业绿色发展效率进行测度.研究结果表明:①长江经济带工业绿色发展整体水平较好.②东中西三个地区的平均效率值差距相对较小,地区差异不明显.③从地区内部来看,东部地区内部省市效率值差异很小;中部地区内部省市效率值...     

广西北部湾经济区高职院校物流专业人才培养研究

文中首先介绍北部湾经济区培养高职物流紧缺人才的重要意义;其次,分析北部湾经济区培养高职物流人才面临的挑战和存在的主要问题;然后,提出北部湾经济区培养高职物流人才的原则、目标、专业技能;最后,从政府、高职院校、物流企业、物流行业组织等方面,加强北部湾经济区高职物流专业人才培养建设。     

Road Pricing I

Readers of Economic Affairs , the Journal of the IEA, are invited to contribute to this section notes on previous articles, other IEA publications, and emerging ideas in economics. All such contributions must be typed double-spaced, not exceed 750 words, and be addressed to Kenneth Smith, Letters & Comments Editor, Economic Affairs , 2 Lord North Street, London SW1P 3LB.     

Limited arbitrage is necessary and sufficient for the existence of an equilibrium

In Chichilnisky (Working Paper No. 586, 1991), Chichilnisky (Working Paper No. 650, 1992) and Chichilnisky (Economic Theory, 1995, 5, 79–108), I introduced the concept of a global cone and used it to define a condition on endowments and preferences, ‘limited arbitrage’, which I showed to be necessary and sufficient for the existence of a competitive equilibrium. In response to a comment (Monteiro et al., Journal of Mathematical Economics, 1997, 26, 000-000), I show here that the authors misunderstood my results by focussing on brief announcements which cover other areas, social choice (Chichilnisky, American Economic Review, 1994, 427–434 and algebraic topology (Chichilnisky, Bulletin of the American Mathematical Society, 1993, 29, 189–207), rather than on the publication which contains may proofs on equilibrium. The comment's example is irrelevant to my results in Chichilnisky (Economic Theory, 1995, 5, 79–108) because it starts from different conditions. Limited arbitrae is always necessary and sufficient for the existence of a competitive equilibrium, with or without short sales, with the global cones as I defined them, and exactly as proved in Chichilnisky (Economic Theory, 1995, 5, 79–108).     

CHOICE UNDER UNCERTAINTY

Books reviewed in this article:
Jacques Drèze (1987) Essays on Economic Decisions under Uncertainty.
W. Kip Viscusi and Wesley Magat et al (1987) Learning about Risk.
J. L. Ford (1987) Economic Choice under Uncertainty: a Perspective Theory Approach.
Isaac Levi (1986) Hard Choices: Decision Making under Unresolved Conflict.     

Arbitrage, equilibrium, and gains from trade: A counterexample

We present a counterexample to a theorem due to Chichilnisky (Bulletin of the American Mathematical Society, 1993, 29, 189–207; American Economic Review, 1994, 84, 427–434). Chichilnisky's theorem states that her condition of limited arbitrage is necessary and sufficient for the existence of an equilibrium in an economy with unbounded short sales. Our counterexample shows that the condition defined by Chichilnisky is not sufficient for existence of equilibrium. We also discuss difficulties in Chichilnisky (Economic Theory, 1995, 5, 79–107).     

CHAOS AND COMPLEXITY IN ECONOMICS

Books reviewed in this article:
William A. Barnett, John Geweke and Karl Shell (eds) (1989) Economic Complexity: Chaos, Sunspots, Bubbles and Nonlinearity
W. A. Brock and A. G. Malliaris (1989) Differential Equations, Stability and Chaos in Dynamic Economics
Carl Chiarella (1990) The Elements of a Nonlinear Theory of Economic Dynamics
Tönu Puu (1989) Nonlinear Economics Dynamics
Kumaraswamy Velupillai (ed.) (1990) Nonlinear and Multisectoral Macrodynamics     

基于区市合一战略的增城经济技术开发区发展方略

当前,国家级开发区在政策上的优势已经不再明显,发展空间也受到很大的局限,也不再是一个纯粹的工业聚集区,在此背景下,"区市合一"、"产城合一"的模式应运而生。位于大都市郊县的国家级经济技术开发区,相对于县级市灵活自主的行政体制而言,其政策并不具有优势,需要充分利用县级市的行政体制和空间资源优势,利用国家级开发区的品牌效应而互补共生发展。以位于广州市郊县增城市的国家级增城经济技术开发区为例,探讨了经济技术开发区在"区市合一"战略下的发展对策,为同类区域的发展提供参考。     

长江经济带高质量发展探究

长江经济带作为一条覆盖11个省市的经济带,采用“一轴、两翼、三极、多点”的发展格局,是以习近平为核心的党中央作出的一项重大战略决策。论文通过对长江经济带高质量发展的战略意义进行分析以及对长江经济带高质量发展概念框架的梳理,提出了长江经济带高质量发展的实践路径,推动长江经济带成为我国生态优先绿色发展主战场、引领经济高质量发展主力军。     

On the Construction of the European Economic Sentiment Indicator*

Economic sentiment surveys are carried out by all European Union member states and are often seen as early indicators for future economic developments. Based on these surveys, the European Commission constructs an aggregate European Economic Sentiment Indicator (ESI). This paper compares the ESI with more sophisticated aggregation schemes based on statistical methods: dynamic factor analysis and partial least squares. The indicator based on partial least squares clearly outperforms the other two indicators in terms of comovement with economic activity. In terms of forecast ability, the ESI, constructed in a rather ad hoc way, can compete with the other indicators.     

Risk aversion and the elasticity of substitution in general dynamic portfolio theory: Consistent planning by forward looking, expected utility maximizing investors

Using the measure of risk aversion suggested by Kihlstrom and Mirman [Kihlstrom, R., Mirman, L., 1974. Risk aversion with many commodities. Journal of Economic Theory 8, 361–388; Kihlstrom, R., Mirman, L., 1981. Constant, increasing and decreasing risk aversion with many commodities. Review of Economic Studies 48, 271–280], we propose a dynamic consumption-savings–portfolio choice model in which the consumer-investor maximizes the expected value of a non-additively separable utility function of current and future consumption. Preferences for consumption streams are CES and the elasticity of substitution can be chosen independently of the risk aversion measure. The additively separable case is a special case. Because choices are not dynamically consistent, we follow the “consistent planning” approach of Strotz [Strotz, R., 1956. Myopia and inconsistency in dynamic utility maximization. Review of Economic Studies 23, 165–180] and also interpret our analysis from the game theoretic perspective taken by Peleg and Yaari [Peleg, B., Yaari, M., 1973. On the existence of a consistent course of action when tastes are changing. Review of Economic Studies 40, 391–401]. The equilibrium of the Lucas asset pricing model with i.i.d. consumption growth is obtained and the equity premium is shown to depend on the elasticity of substitution as well as the risk aversion measure. The nature of the dependence is examined. Our results are contrasted with those of the non-expected utility recursive approach of Epstein–Zin and Weil.     

广西北部湾经济区城市群物流经济联系发展模式研究

通过分析长三角、珠三角及环渤海等三大城市群演化及其物流经济联系发展模式,结合广西北部湾经济区实际,提出广西北部湾经济区物流经济联系新的发展模式,以期对广西北部湾经济区城市群物流经济发展提供参考。     

沈阳经济区土地资源开发利用战略研究

沈阳经济区是国务院批准设立的第八个国家级综合配套改革试验区。构建科学的、前瞻性的、可持续的土地资源开发利用战略,正是完成沈阳经济区建设历史使命的前提和基础保证。本文通过评述沈阳经济区土地开发利用的特点和存在的问题,提出了该区域土地开发利用的对策。     

The dynamics of regional inequalities

This paper analyses the link between regional inequalities and GDP per capita at the country-level. Our starting hypothesis is that the evolution of regional inequalities should follow a bell-shaped curve as national GDP per capita rises since growth by its very nature is unlikely to appear everywhere at the same time, as has been argued by a number of authors, from Kuznets [Kuznets, S., (1955), Economic growth and income inequality, American Economic Review 45(1), 1–28] to Lucas [Lucas, R.E., (2000), “Some macroeconomics for the 21st century”, Journal of Economic Perspectives 14 (1), 159–168]. We test this hypothesis econometrically using semi-parametric estimation techniques and regional data for a panel of European countries. Our results provide strong support for such a bell-shaped curve and are robust to changing the regional administrative units and the time period, as well as controlling for other possible determinants of regional inequalities. We also find support for this hypothesis when considering non-European countries.     

对我国经济一体化问题的几点研究

近来,随着反对噪声的加大,对一体化的阻碍也在加剧。因此,如何对付反对意见,是当前一体化进程中的一个问题。在国内,尽管还没有这种强烈的反对之音,但中国只要坚定不移地进行经济一体化,对此问题未雨绸缪进行前瞻性思考同样有重大意义。本文从经济一体化内涵出发,探讨了我国从外部和内部两方面加深经济一体化力度的相关问题。     

经济法独立性之我见

作为经济法调整对象的宏观调控和市场主体行为规制领域的社会关系,有其自身本质属性,正是此种本质属性决定了经济法的独立性;进一步,通过对经济法与其他部门法(尤其是民法与行政法)间关系的揭示与说明,使我们能更深刻认识到经济法作为独立法部门的存在.     

广西北部湾经济区发展现状及对策研究

2008年1月,国务院正式批准实施《广西北部湾经济区发展规划》,标志着广西北部湾经济区开放开发纳入国家战略。研究分析广西北部湾经济区发展现状,并在此基础上提出广西北部湾经济区开放开发对策,对于进一步推动实施《广西北部湾经济区发展规划》,促进广西北部湾经济区又好又快发展具有重要意义。     

产业集群视角下广西北部湾经济区城市群发展研究

从经济学角度看,产业集群是城市群的增长极核。广西北部湾经济区城市群是珠三角、长三角和环渤海城市群后中国经济的又一增长极。为了提升广西北部湾经济区城市群的竞争力,必须发展产业集群。通过对现状的分析,从产业集群角度探讨广西北部湾经济区城市群发展对策,提出城市群发展建议。