论西方国家的经济制度与行政管理制度之间的矛盾

西方国家的社会结构存在一种矛盾:西方国家在经济上主要实行私有制,在政治上则主要实行公有制。民主制本质上是一种对政治权力的公有制。西方国家的"政府应基于人民的同意"的理念导致政府与公民在本质上是一种提供服务与购买服务的关系,是一种赤裸裸的金钱关系,这难以表明西方国家的政治模式是优越的。因此,西方国家的经济模式、政治模式都存在逻辑问题。     

论企业型政府理论对我国行政改革的启示分析

随着全球化信息技术的传播、公民对政府机关的信任下降,政府再造经验的普及,旧的政府管理模式已经无法适应社会的发展,政府开始进行有意识的改革和创新。财政困难、政府职能和规模的扩张以及引起的信心危机,是促进行政改革的主要原因。企业型政府理论是时代的必然产物,被很多西方国家采纳应用于实践。虽然我们国家的发展和西方国家的发展状况迥异,但一些西方国家已经通过企业型政府解决了因行政效率低下导致该国的经济建设和发展的阻碍,取得了空前的成功。西方政府的企业型政府建设的成功经验值得中国借鉴。     

新冠肺炎疫情冲击下中国跨国投资面临的挑战和应对策略

新冠肺炎疫情全球大流行严重冲击了世界经济,导致世界经济出现了严重衰退,2020年全球外国直接投资同比下降幅度高达42％.新冠肺炎疫情冲击下中国跨国投资面临一系列挑战,疫情防控严重限制了国际人员流动,对东道国经济和投资造成严重冲击,西方国家以疫情溯源为借口掀起一波反华浪潮,各国不断加强对跨国投资的审查和限制力度,后疫情时...     

"财政幻觉"的幻觉

政府间财政转移支付是一个国家内部各级政府之间分担税收和公共开支责任的一种手段.在许多西方国家,公共部门的一个最大的特点是政府间的协作.这种政府间的协作一方面通过中间政府--它是存在于中央政府和地方政府之间,具有一定政治权力的中间组织--来完成,另一方面,也是更重要的,就是通过中央政府对地方政府的转移支付来完成.     

论相机抉择的税收政策在我国的实践意义

论相机抉择的税收政策在我国的实践意义张晓霞相机抉择的税收政策是西方税收理论与实践中的一个重要内容。许多年来，西方国家在进行需求管理过程中，运用相机抉择的税收政策取得了相当好的效果。一、相机抉择税收政策的主要内容在西方经济学中，相机抉择的含义是，政府在...     

美国各部门杠杆率变化与影响

新冠肺炎疫情突如其来,严重冲击了全球经济和金融市场。疫情大流行一度引发全球流动性危机,美股10天内四次熔断,债券遭到抛售,全球陷入流动性恐慌。在此背景下,各国政府迅速推出一系列大规模刺激计划,力度远超2008年国际金融危机,由此也导致政府部门和私人部门的债务不断累积,杠杆率高企。与西方国家无节制的政策扩张不同,我国在推进供给侧结构性改革中,首次提出了“跨周期调节”,以助力实现稳增长和防风险的长期均衡。     

政府财富管理能力的国际借鉴

自新冠肺炎疫情暴发以来,不少国家的主权财富基金通过贴补政府支出,或抄底海外资产,或救助本地企业,增加了政府的财政韧性,也为应对危机提供了政策空间和抓手。新冠肺炎疫情冲击又一次引发人们对政府财富管理能力及其长远影响的思考。挪威、新加坡等小型经济体的经验表明,及早做好布局,投资收入是可以在财政收入中起到支柱性作用的。     

从天下没有免费的午餐看我国政府的行政成本

一、政府的行政成本上升导致的问题 我国行政成本是高还是低,用什么样的概念来衡量我国政府的行政成本、它与西方国家相比是否有积极的意义?这是一个值得探讨的问题.     

论国家财政监督机制

在西方经典财政理论中，对于“财政监督”一词确切概念，并未给出明确的界定。西方财政学们更注重从法律角度对其进行定位，因为在他们看来，财政职能是政府的重要经济职能，而现实中的财政监督是国家政权机关的政治职责，其更表现为一个法律的概念，不属于经典财政学论述的范畴。然而在社会实践中，许多先进的西方国家均建立了较完善的财政监督体系，     

从天下没有免费的午餐看我国政府的行政成本

一、政府的行政成本上升导致的问题我国行政成本是高还是低,用什么样的概念来衡量我国政府的行政成本、它与西方国家相比是否有积极的意义?这是一个值得探讨的问题。国家行政学院教授杜刚建在接受《财经时报》记者采访时说“中国是全世界行政成本最高的国家”,另一位著名学者辛向阳亦持此观点,他以中美税收监督为例作了比较,2002年中国的税收收入是1·5万亿美元,完成这项任务、税务系统人员为100万人;美国税收远远高于中国,而税务人员仅有10万人。2006年3月4日全国政协委员、国务院参事任玉岭公开指出“从改革初期的1978年至2003年25年间,我…     

The response of the Dollar/Yen exchange rate to economic announcements

The paper examines the impact of major U.S. macroeconomic announcements on the Dollar/Yen exchange rate. We find that these announcements are responsible for most intraday and day-of-the-week volatility patterns in this market and we identify the most important announcements. The initial reaction to a major 8:30 announcement begins around 8:30:10 and lasts until about 8:30:50. A partial price correction is normally observed between 8:31 and 8:32. Price movements after 8:32 are basically independent of those observed earlier although volatility continues to be higher than normal until about 8:55.     

IPSAS,ESA and the fiscal deficit—a question of calibration

The academic literature on IPSAS adoption is not clear whether this would lead to a fiscal deficit measure close to that reported in national accounts. This paper presents a case study which attempts to clarify this dilemma. The authors show that IPSAS compliance would result in yet another deficit measure that is nowhere close to the statistical measure, leading to even more confusion.

IMPACT

IPSAS compliance would neither simplify nor standardize the conversion exercise that EU member countries have to do to change a governmental accounting deficit to the EC’s required statistical deficit. Nor would it directly lead to more reliable statistical data. The authors therefore question the impact of the proposed EPSAS on the quality of macro-surveillance.     

On the Effects of Barriers to International Investment

A simple model is presented in which it is costly for domestic investors to hold foreign assets. The implications of the model for the composition of optimal portfolios at home and abroad are derived. It is shown that all foreign assets with a beta larger than some beta ${\beta }^{*}$ plot on either one of two security market lines. Some foreign assets with a beta smaller than ${\beta }^{*}$ are not held by domestic investors even if their expected return is increased slightly.     

Rationalities, domination and accounting control: A case study from a traditional society

Previous studies on management control in less developed countries have mainly concentrated on the state and privatised enterprises. Drawing upon Weber's work [Weber M. The protestant ethic and the spirit of capitalism. New York, NY: Scribner; 1958; Weber M. General economic history. New York, NY: Collier Books; 1961; Weber M. Economy and society: an outline of interpretive sociology (two volumes). New York, NY: Bedminster; 1968; Weber M. Economy and society. Berkeley, CA: University of California Press; 1978] on traditional society, and a Weberian framework developed by [Colignon R, Covaleski M. A Weberian framework in the study of accounting. Accounting, Organiztions and Society 1991;16(2):141–57], this paper seeks to understand ‘private management practices’, including accounting, in a stock exchange listed company (public limited company). The case study evidence indicates that organisational controls are biased to serve the dominant owners or family/sponsors of the company instead of general shareholders. The paper argues that family dominance is facilitated by the external and internal layers within which the company is operating. The greater understanding of traditional societies developed in Weber's works [Weber M. Economy and society. Berkeley, CA: University of California Press; 1978] is very useful in explaining why managers work to serve the family. Domination by family via trusted managers using accounting calculations instead of bureaucracy is highly relevant, as the case study shows. These findings are not dissimilar to those of previous studies conducted in privatised and family-owned companies in Bangladesh and elsewhere. The paper calls for more research on management accounting practices employing Weber's works, especially in traditional societies.     

Optimal Mortgage Refinancing: A Closed‐Form Solution

We derive the first closed‐form optimal refinancing rule: refinance when the current mortgage interest rate falls below the original rate by at least In this formula W(.) is (the principal branch of) the Lambert W‐function, where ρ is the real discount rate, λ is the expected real rate of exogenous mortgage repayment, σ is the standard deviation of the mortgage rate, is the ratio of the tax‐adjusted refinancing cost and the remaining mortgage value, and τ is the marginal tax rate. This expression is derived by solving a tractable class of refinancing problems. Our quantitative results closely match those reported by researchers using numerical methods.     

Selenium:mercury molar ratios in fish from the Savannah River: implications for risk management

The risk to humans from contaminants in fish is dealt with by issuing consumption advisories, which are devised from consumption patterns, contaminant levels, and toxicity of those contaminants. The primary contaminant of concern in fish is mercury, and recently it has been suggested that the protective effects of selenium on mercury toxicity should be considered in risk management. The relationships between mercury, fish species and fish size, and selenium:mercury (Se:Hg) molar ratios were examined for freshwater fish from the Savannah River. The data indicated: (1) significant variation in Se:Hg molar ratios among and within species, (2) mean selenium molar ratios for the 11 species were negatively correlated with mean mercury levels and mean fish length, (3) greater variation in individual variances within species than the variation in mean ratios among species, (4) some species with high mean ratios had individuals with ratios below 1, and (5) even the species with the highest mean ratios had some individuals close to a molar ratio of one. These data suggest that the great variability of the Se:Hg molar ratios within a species results in the ratios being unpredictable. That is, knowing the mean Se:Hg molar ratio for a given species does not predict the ratios of individuals, or thus the protectiveness of selenium on mercury toxicity.     

R2

Even with hindsight, the ability to explain stock price changes is modest. $R^2$s were calculated for the returns of large stocks as explained by systematic economic influences, by the returns on other stocks in the same industry, and by public firm-specific news events. The average adjusted $R^2$ is only about .35 with monthly data and .20 with daily data. There is little relation between explanatory power and either the firm's size or its industry. There is little improvement in $R^2$ from eliminating all dates surrounding news reports in the financial press. However, the sample kurtosis is quite different when such news events are eliminated, thereby revealing a mixture of return distributions. Non-news dates also indicate the presence of a distributional mixture, perhaps due to traders acting on private information.