医疗服务市场的高价格形成机制——一个基于信息扩散的解释框架

本文指出,一个自由的医疗服务市场会导致过高的价格水平,其原因在于,医疗服务的价格变化信息在患者之间扩散是一个缓慢的时间过程,致使医院的医疗服务需求对价格变化不敏感,从而降低了医疗服务市场的竞争性。本文同时指出,政府只要能够改变医疗服务价格信息的扩散机制,就能够建立一个以市场机制为基础的高效率的医疗卫生体制。     

Deregulation, Integration, and Market Structure in European Banking

This paper analyzes the impact of deregulation and market integration policies on the structure of European banking markets. It argues that whether European integration will lead to large increases in EU-wide concentration will depend on the extent to which competition in banking is based on endogenous sunk costs or, alternatively, on variable costs and exogenous sunk costs. The paper also highlights the role of own funds as a source of endogenous increasing returns. Finally, it proposes an empirical test of the dominant form of competition. This procedure is applied to data for 11 EU countries during the period 1981–1995. J. Japan. Int. Econ., Dec. 1999, 13(4), pp. 372–396. IESE (International Graduate School of Management), University of Navarra, Av. Pearson 21, 08034 Barcelona, Spain. Copyright 1999 Academic Press.Journal of Economic Literature Classification Numbers: G20, G21.     

EMU, EU, Market Integration and Consumption Smoothing

By taking a new approach to the study of the impact of EMU on consumption smoothing, centering on consumption volatility and therefore on smoothing more directly, we find that even though EMU tends to smooth consumption, it is not through cross-country property and claims. Rather it comes through the promotion of the tradability of goods, capital in particular: specifically, the encouragement of price competition, contestable home markets, ability to borrow and buy insurance at home, and the harmonization of regulations. Some of the consumption smoothing may also depend on EU membership rather than EMU as such but EMU adds to it. As a fundamental part of the analysis, the paper uses a new index of currency union which focuses on the ratio of trade with other countries sharing the same currency relative to total foreign trade.     

市场经济与价格竞争

价格竞争与市场经济之间存在着客观必然的联系，价格竞争在市场经济中具有重要的作用。只要实行市场经济体制，就必然产生价格竞争，而且需要价格竞争。     

Welfare State, Market Imperfections, and International Trade

Within a two-sector-two-country model of trade with aggregate scale economies and unionisation, a more generous welfare state in one country increases welfare in that country and can have positive spillover effects on the other. Furthermore, synchronised expansions of social security are more welfare enhancing than unilateral ones. Our results counter the fears that a race to the bottom in social standards may result from the ‘shrinking-tax-base’ entailed by international capital mobility. While affecting trade patterns and income distribution, capital mobility interacts with welfare state policies in increasing welfare, even when capital flows out of the country that initiates the shock.

投资者行为、资产价格与股市波动

基于消费的跨期资产定价模型是现代金融学发展的理论基石。然而由于其严格的前提假设与真实世界中投资者的实际决策行为有很大差异，它无法对股票价格脱离基本面的“异常”波动现象给出合理的解释。本研究通过引入行为金融理论的研究思路及其对股票波动性之谜的研究成果，并对我国股票市场的波动特点进行实证分析，得出投资者的行为因素在我国股市波动中占较大比重的结论。我们认为，从基本面和投资者行为因素两方面采取相应的措施，在某些情况下，更应考虑行为因素，才能减少波动性，规范股市，使我国资本市场健康发展。     

市场分割与国债市场的价格反应差异

本文对CPI指数公布引起的债券价格反应进行研究,运用事件研究法比较了跨市场债券与非跨市场债券的不同反应,得出了两个债券市场由于市场分割导致价格发现效率差异的结论,并提出统一债券市场,提高市场效率的建议。     

新疆市场物价分析及预测

2004年，新疆国民经济运行情况良好，继续保持了较快的增长速度，国内生产总值比上年增长11．1％，增速提高0．3个百分点；全社会固定资产投资1160亿元，比上年增长15．8％；市场商品货源充足，城乡消费活跃，社会消费品零售总额达482．07亿元。比上年增长14．5％；物价小幅上升，全疆物价总水平比上年上涨2．7％。     

Impact of Socio-Economic Factors on Risk Behaviour of Small Farmers: An Empirical Evidence from Oyo North Agricultural Development Project,Nigeria

Abstract: This study examines the extent to which incorporation of elicited risk attitudes of farmers can help in farm planning. It also explores the possibility of explaining risk behaviour of farmers from their socio-economic characteristics. Age of farmers, farm income, family size, off farm income and loan procurement were found significant in this regard. Résumé: L'étude examine dans quelle mesure la prise en compte des attitudes à risque mises au jour chez les agricultcurs peut contribuer à la planification agricole. Elle explore également la possibilité d'expliquer 1e comportement à risque des agriculteurs par leurs caractéristiques socioéconomiques. L'âge des agriculteurs, le revenu agricole, la taille de la famille, 1a revenu autre qu'agricolc et 1'octroi des prêts sont jugés importants à cet égard.     

German,US and Central and Eastern European Stock Market Integration

This paper examines the long-term linkages between seven Central and Eastern European (CEE) emerging stock markets and two developed stock markets, namely the German and the US markets. The stability of the long-run relationships is studied using recursive cointegration analysis. The results reveal that the financial linkages between the CEE markets and the world markets increased with the beginning of the EU accession process. Furthermore, the application of the Gonzalo and Granger (J Bus Econ Stat 13:27–35, 1995) methodology indicates that the examined stock markets are partially integrated, while there is also evidence that the emerging stock markets of Central and Eastern Europe except for Estonia together with the German and the US stock markets, have a significant common permanent component, which drives this system of stock exchanges in the long run. Finally, it is worthwhile to note that the global financial crisis of 2007–2009 caused a slowdown in the convergence process. In addition we find evidence that the Slovenian stock market exhibits a moderate increase in the transitory component and this may be attributed to the Slovenian full membership in the euro area.     

Price Anomalies in the Used Car Market

Summary Using two different samples – one based on newspaper advertisements, the other Internet-based – we identify some price anomalies in the used car market in the Netherlands. First, prices of used cars depend on their age in calendar years rather than months. Second, there is some evidence that crossing 100,000 km induces a sudden additional price reduction. Third, a new license plate format, something with no intrinsic value whatsoever, increases a car’s price by about 4%. We discuss possible explanations for these results.     

资产价格泡沫的宏观调控:识别、传导和应对

以稳物价、促增长为传统目标的宏观政策要不要以及如何对资产价格泡沫进行调控,在理论上和实践上一直存在争议:第一,资本市场的高频联动、金融摩擦、投资者的认知偏差共同造成资产泡沫的根源、泡沫规模和发展规律在识别上都极端困难.第二,利率渠道、信贷渠道、风险承担渠道等传导机制对资产泡沫产生的影响错综复杂.本文从资产泡沫的识别和泡...     

价格管制与通货膨胀问题研究

文章从国际与国内通货膨胀成因出发,对农产品与原材料及能源价格上涨和反通货膨胀政策中价格管制政策的利弊进行了分析。