Inflation and Price Adjustment: An Analysis of Microdata

I use large datasets on prices by products and stores from recent inflationary periods in Israel to compare simple menu cost models with simple uncertain and sequential trade (UST) models. The main empirical findings are (a) price erosion due to inflation explains only a tiny fraction of the variation in nonzero nominal price changes, (b) stores whose last nominal price change was relatively low are likely to choose a nominal price change that is relatively high, (c) stores that reduce their nominal price charge a lower price relative to stores that increase their nominal price, and (d) relative price variability is not related to inflation. Journal of Economic Literature Classification Numbers: E300, E310, D210.     

监事会治理初探--基于中国上市公司的实证分析

监事会治理是公司治理的重要组成部分,监事会治理问题近年来成为了国内公司治理研究中的热点问题之一.本文在国内外学者研究的基础上,选择了深圳证券交易所A股上市公司2003年的年度报告中公布的监事会有关数据,对我国上市公司现行监事会的规模、薪酬激励、股权激励以及外部监事比重进行了初步分析,为我国监事会的有效治理提出了意见与建议.     

企业异质性与企业家知识异质性的耦合性分析

完全竞争模型对于解释企业的竞争优势存在天然的缺陷.企业异质性是企业取得竞争优势的潜在原因,而企业家知识是企业异质性的重要来源.企业家知识的异质性与企业的异质性具有很强的耦合性,企业家知识的报酬递增性、创新性、默会性、资产专用性、市场不完全性等特点分别与企业异质性资源的价值性、稀缺性、难以仿制性、无法替代性以及非竞争性等条件具有一一对应的关系.企业家至少部分地充当了企业异质性的承担者.     

Innovation and Employment: Evidence from Italian Microdata

The microeconomic empirical literature devoted to the link between innovation and employment tends to suggest that technological change has a positive effect on jobs, at least at the firm-level. The main purpose of this paper is to see whether this result still holds in a situation where intermediate technologies are implemented mainly through non R&D expenditures, as in Italian manufacturing. Applying GMM-SYS to an employment equation augmented for technology and using a unique longitudinal dataset of 575 Italian manufacturing firms over the period 1992–1997, this paper finds a significant – although small – positive relationship between innovation and employment.     

同业业务与商业银行流动性创造——基于银行业微观数据的实证研究

基于2012～2017年中国银行业的微观数据,实证检验了商业银行参与同业业务对其流动性创造的影响,研究结果表明,商业银行同业业务参与程度和流动性创造之间存在显著的负相关关系,无论是同业资产还是同业负债业务,随着银行对其参与度的提升,单位资产的流动性创造均会下降;这一负向关系在国有大型银行和股份制商业银行中并不显著,然而对于城市商业银行和农村商业银行,同业业务参与程度的提高会显著降低流动性创造规模。其次,不同财务特征的商业银行在同业业务对流动性创造的影响上存在显著差异。资产规模较大并且盈利能力较强的银行,同业业务对流动性创造的负向效应较弱。     

An Empirical Analysis Of Industrial Disputes: Evidence From Indian States

This paper investigates the determinants of industrial disputes using data for fourteen major states of India over fifteen years from 1981 to 1996. We document that other than purely economic factors (e.g. wages, provident fund and other benefits, and factory size); socio-economic, institutional, and political factors have significant impact on industrial disputes. This supports the political economic view of the trade union behavior. We also provide the evidence that liberalization of Indian economy has enhanced industrial peace. Region specific factors as well as the ideology and characteristics of political parties in power of the state governments influence industrial disputes. Fixed capital per employee and overall growth rate of per capita state domestic products has negligible impact on industrial disputes.

     

银行业市场结构与货币政策冲击——基于异质性银行的模型分析

通过构造货币政策冲击下的贷款市场总体均衡模型,研究在受到资本充足率和存贷比约束的条件下,银行最优信贷决策行为。分析发现,在垄断竞争的银行业市场结构背景下,银行间在价格竞争方面表现出战略互补特征和由此带来的模仿效应。因而,当银行满足资本充足率和存贷比要求时,银行业传导的货币政策信贷渠道是有效的,而当贷款市场中的银行不能满足资本充足率或存贷比要求时,信贷渠道则表现出无效性。     

Heterogeneity in Production Structures and Efficiency: An Analysis of the Czech Food Processing Industry

The present study analyses firm heterogeneity and sector‐specific technology. The theoretical model stands on the assumption of maximizing the return on capital and overcomes problems involved in simple profit maximization. The results show that a random parameter model with sector dummies and heteroscedasticity is the most appropriate model specification for distinguishing firm‐level and sector‐level efficiency and heterogeneity. The heterogeneity among firms as well as among sectors was found to be an important characteristic in Czech food processing. This holds for production technology as well as for technical efficiency. Moreover, the decomposition of total variance shows that intrasectoral differences in technologies are much more pronounced than the intersectoral differences. The differences in intrasector heterogeneity also suggest that the food processing industry will be subject to accelerated structural change in the coming years. Moreover, we found that on average the companies highly exploit their production possibilities. However, some companies cannot keep pace with competitors. Because leapfrogging does not appear to be present in selected industries (except for Milling), structural change is expected to occur in such a way that the most successful companies will strengthen their position.     

我国上市公司监事会若干问题分析

上市公司监事会负担着监督董事会和经理层经营行为的重大责任，监事会的作用能否得到正常发挥，已经成为上市公司能否取得良好经营业绩，进而维护全体股东，尤其是中小股东的利益和关键问题。本从沪市672家上市公司2002年年度报告的详细分析入手，对我国上市公司监事会的规模、人员构成等几方面问题进行研究，发展存在问题，并提出相关建议。     

中国增值税转型试点一周年情况分析

东北地区正在进行的增值税转型试点,预示着未来中国增值税改革的方向,倍受世人关注。从一年多的试点情况看,增值税转型的政策和税收管理的问题较多。增值税转型政策牵涉到国家、地方、企业和居民各方面的利益,需要在不断调整中加以完善,但调整的过程和结果应做到公开透明。试点政策的调整必须充分考虑财政的承受能力。抓紧完善相关的管理制度和管理手段,提高工作效率。     

物业管理服务：从物业产权角度的分析

物业管理服务是对物业及其相关者的服务,由于物业产权构成复杂,产权属性的相关者难以明确界定,使物业管理服务的供需与价格矛盾长期存在,从物业产权的理论分析入手,对物业管理服务进行产权界定,将物业管理服务分为个体服务,公有服务和公共服务。     

Microdata imputations and macrodata implications: Evidence from the Ifo Business Survey

A widespread method for forecasting economic macro level parameters such as GDP growth rates is survey-based indicators that contain early information in contrast to official data. But surveys are commonly affected by nonresponding units, which can cause biased results. Many papers have examined the effect of nonresponse in individual or household surveys, but less is known in the case of business surveys. For this reason, we analyse and impute the missing observations in the Ifo Business Survey, a large business survey in Germany. The most prominent result of this survey is the Ifo Business Climate Index, a leading indicator for the German business cycle. To reflect the underlying latent data generating process, we compare different imputation approaches for longitudinal data. After this, the microdata are aggregated and the results are compared with the original indicators to evaluate their implications at the macro level. Finally, we show that the differences between the original and imputed indicators do not lead to substantial changes in the interpretation and the forecasting performance of the indicators.     

当前我国房价与租金关系的经济学分析--一个市场区隔理论的解释

当前我国房价和租金被区隔到垄断竞争市场和完全竞争市场,两者具有相对独立性,并不存在房价决定租金的情况。但两个市场是相互联系着的,租金可以作为衡量房屋价值和投资决策的重要依据。     

对以色列经贸市场的分析与探讨

从中国公司的认知角度出发,时以色列的经济状况、中以经贸关系和劳务合作等行业进行分析和探索,对未来两国经贸发展的展望,作为我国企业到以色列开展经贸业务的参考.     

对以色列经贸市场的分析与探讨

从中国公司的认知角度出发,对以色列的经济状况、中以经贸关系和劳务合作等行业进行分析和探索.对未来两国经贸发展的展望,作为我国企业到以色列开展经贸业务的参考.     

会计师事务所审计收费问题成因剖析及其治理

现行审计收费制度和方式,严重影响着审计质量、审计市场秩序和行业正常发展。本文分析了现行审计收费中存在的问题、影响及成因,提出了合理协调审计收费标准、完善审计收费激励机制、矫正审计市场价值导向、健全审计收费法律制度、强化审计收费行业自律、设立“审计收费监管委员会”等治理对策。     

资本市场投资行为监管的博弈分析

伴随中国资本市场快速发展,资本市场投资主体的违规投资行为普遍存在,这是监管者与投资者博弈的结果。通过纯策略博弈均衡分析和混合策略的最优行为选择分析可以看出;投资者违规与否取决于违 规行为与合规行为的比较效用大小;在效用最大化准则下,监管达到相对满足的均衡状态是可能的,但最理想的均衡状态不可能实现。