Natural gas prices and stock prices: Evidence from EU-15 countries

This study investigates the long-run relationship between natural gas prices and stock prices by using the Johansen and Juselius cointegration test and error–correction based Granger causality models for the EU-15 countries. We employ quarterly data covering the period from 1990:1 to 2008:1. Empirical findings suggest that there is a unique long-term equilibrium relationship between natural gas prices, industrial production and stock prices in Austria, Denmark, Finland, Germany and Luxembourg. However, no relationship is found between these variables in the other ten EU-15 countries. Although we detect a significant long-run relationship between stock prices and natural gas prices, Granger causality test results imply an indirect Granger causal relationship between these two variables. In addition, we investigate the Granger causal relationship between stock returns, industrial production growth and natural gas price increase for Austria, Denmark, Finland, Germany and Luxembourg. As a result, increase in natural gas prices seem to impact industrial production growth at the first place. In turn, industrial production growth appears to affect stock returns.     

Public Preferences for Hydrogen Buses: Comparing Interval Data, OLS and Quantile Regression Approaches

We use a quantile regression (QR) approach to analyse contingent valuation estimates of public willingness to pay (WTP) for the air and noise pollution reductions associated with the introduction of hydrogen buses in London. QR results show that variables that were not significant in interval regression or ordinary least squares regression become significant at certain quantiles along the WTP distribution. In addition, the determinants of WTP at the lower tail of the distribution differ from those at the higher end of the distribution. Our findings illustrate the usefulness of quantile regression methods for analysing contingent valuation data, enhancing our understanding of the determinants of willingness to pay.     

农业产业化的路径转换:产业融合与产业集聚

我国农业产业化的进程正面临着重大的路径转换。在这一过程中,产业融合与产业集聚应运而生,通过产业融合形成新的产业形态,实现产业化农业;通过产业集聚加快农业产业化进程。     

An OLS approach to computing Ramsey equilibria in medium-scale macroeconomic models

This note describes a general procedure for solving for the steady state and the dynamics implied by the Ramsey equilibrium of medium-scale macroeconomic models. The procedure yields an exact numerical solution for the steady state and second-order accurate dynamics. It introduces a novel projection-based approach to calculating exact solutions to the steady state of Ramsey equilibria.     

OLS与PLS方法在顾客满意度建模中的模拟比较

使用蒙特卡罗方法 ,对比研究了使用普通最小二乘法和偏最小二乘法 ,进行顾客满意度多元线性建模的效果。模拟结果表明 ,采用偏最小二乘法在样本量不足 ,设计阵存在多重共线性时能够获得更好的建模可靠性 ,而样本数据的右偏斜分布对这两种方法均不产生显著的危害     

基于ESDA和GWR的中国地级及以上城市四化协调发展时空分异格局

采用ESDA、GWR、重心转移、热点分析等空间分析方法,结合构建的"四化"协调发展模型,对2001、2006和2011年全国343个地级单元四化协调发展的时空分异格局、空间相关性、总体趋势及影响因素进行研究。结果表明:中国地级单元四化协调发展空间分异显著且具有显著正相关关系;10年间四化协调发展指数的重心均落在河南省境内,重心迁移方向是先向西北方向移动,然后向东北方向移动;四化协调发展类型数目最多的为轻度失调和濒临失调地级单元;四化协调发展的热点区域集中分布在胡焕庸线以东的沿海地带;四化协调发展的影响因素影响力大小依次为城乡人均固定资产投资比人均社会消费品零售额人均GDP人均教育支出城乡人均收入比城乡人均消费比,只有人均GDP是四化协调发展的正相关因素,城乡收入比整体上表现为负相关。     

Convergence and the Caribbean

This paper examines the convergence experience of selected Caribbean countries. It examines evidence of reduced dispersion in real per capita income—Sigma convergence—and ‘catch up’ growth across the group—Beta convergence. Estimation of the Solow—Swan cross-section model for the Caribbean shows weak evidence of β and σ convergence. However, structural instability and evidence of divergence over the sample period, suggest this convergence to be spurious. Further tests on individual country data showed an absense of steady state convergence for any country over time. Institutional structures and adjustments to economic shocks appear to have been important for the determination of per capita income in the long run.     

“十五”及2015年我国农业发展的宏观环境及战略定位

“十五”期间和今后15年,我国农业发展既面临有利的国际和国内环境,又面临农产品销售不畅、国外农产品竞争、农业基础设施供给不足、农民增收难度加大、城镇化推进滞后等因素的挑战,应对这些挑战,需要在战略定位上实行六个转变,在对策选择上突出优化政策、培育市场、调整结构、重塑国民疏入分配格局、推进农村城镇化等五个重点。     

Approaches to Real Estate Taxation in the Czech Republic and the EU Countries

International Advances in Economic Research - Real estate taxes are not harmonized in the European Union. Individual states use different approaches when designing such taxes and the percentage of...     

农业产业化：中国农业现代化的必由之路

当前，家庭联产承包责任制存在诸多问题，农业产业化势在必行。为此，必须积极稳妥地推进农村土地制度发展，进一步改革农村金融组织，以改变目前远不适应农业产业化发展需要的局面。     

投标与拍卖的决策理论方法

本文介绍国内很少涉及的国际投标和拍卖中的一些重要概念和基本问题,重点综述国际投标与拍卖的决策理论模型与方法的发展历史与现状。     

研究中国政治秩序的新方法

这篇评论讨论周雪光的《基层政府间的“共谋现象”》和强世功的《中国宪法中的不成文宪法》。两位教授均感兴趣的问题是中国政治秩序的实际运作方式,但却出于不同的原因。周教授把事情的实况——中央与地方关系的运作方式——多少作为已知的事实,从而试图提供一种解释。而强教授执笔的原因正好是因为他认为中国政治秩序实际如何运作,在宪法学界得到的关注实在太少。周教授重点研究了面对来自高层政权的命令时下层不同级别的政府之间的共谋这个专门的问题。他关注的焦点让我们更加注意可能鲜为人知的中央与地方关系的这一方面。但是他讨论的许多问题也似乎不是共谋问题本身,而是一般的委托-代理的冲突。在分析中国的宪法秩序时,强教授的文章呼吁少一些形式主义,更多一些现实主义。在完全承认文章提倡的方法论的优点的同时,评论认为,强教授自己的方法仍带有一些形式主义的因素。     

论工业企业生态工程及其实施途径

生态工程这一概念是由美国著名生态学家HowardT.Odum首先提出来的。工业企业生态工程是把企业作为一个开放式人造系统,根据整体、协调、循环、再生等生态系统控制原理及方法去规划、设计和调控企业生产要素及其结构、工艺流程、技术工程和产品生态设计等,从而促进企业经济、生态、社会三大效益的协调发展。在工业企业中实施生态工程是可持续发展战略的微观举措,是增强工业企业生命力的有效手段。而实施生态工程必须树立现代生态观念,重视企业生态规划,发展生态工业园区,实施清洁生产模式,依法规范企业行为,从根本上增强企业生命力,实现企业经济效益、生态效益、社会效益多目标的协调。     

提高企业绩效的有效途径初探

随着当前企业竞争的日益加剧，提高企业绩效已经成为保持企业核心竞争力的重要推动力量。在充分考虑企业运转支撑体系的客观现状，通过适当简化KPI指标、熟练运用知识管理工具、实现企业精益化等途径。增强企业持续发展能力。     

农业污染对我国农产品质量安全的影响及对策探讨

农业污染和农产品质量安全问题是我国农业发展中面临的主要问题,本文阐述了农业污染对农产品质量安全的影响,分析了农业污染影响农产品质量安全的原因,并提出了解决农业污染和农产品质量安全问题的对策及建议.     

The Narrow and Broad Approaches to Evolutionary Modeling in Economics

Some models in evolutionary economics rely on direct analogies to genetic evolution, assuming a population of firms with routines, technologies, and strategies on which forces of diversity generation and selection act. This narrow conception can build upon previous findings from evolutionary biology. Broader concepts of evolution allow many or just one adaptive entity, instead of necessarily requiring a population. Thus, an institution or a society can also be understood as an evolutionary entity. Both the narrow and broad approaches have been extensively used in the literature, albeit in different literature traditions. I provide an overview of the conception and development of both approaches to evolutionary modeling, and argue that a generalization is needed to realize the full potential of evolutionary modeling.     

解决中国西部中小企业融资难路径选择

解决中国西部中小企业融资难问题是一项系统工程,需要各方面的相互配合,任何单项政策和措施的出台都不能从根本上改变西部中小企业融资难的现状。政府、金融机构和企业三方必须共同采取措施,通过三个体系的有效运作,从主、客观等方面逐步改变制约西部中小企业融资的不利因素,才能促进西部中小企业尽快驶入健康发展的轨道。