Monopolistic Competition, Increasing Returns and International Coordination of Entry Policy

This paper presents a new model of monopolistic competition in which firms produce differentiated products under decreasing costs. This model is used to confirm and illustrate the limitations of the excess entry hypothesis, well known in the literature on industrial organization. The validity of the theorem is limited in the sense that it fails to hold in the present model if the properly defined degree of love for variety is sufficiently large. The model is extended to allow for intraindustry trade and to examine the conditions for gains (or losses) from trade in a two-country framework. It is shown how the degree of love for variety affects them. The significance and nature of international coordination of competition policy in the present setting is considered. The degree of love for variety is again shown to be of crucial importance in the characterization of the optimal policy coordination.     

关于农民工社会保障问题的思考

从农民工社会保障现状出发,通过对农民工社会保障公平性和制度设计的思考,强调农民工社会保障构建的必要性和探索农民工社会保障制度在实施中的可行性。在目前还不具备建立一元社会保障制度——且一元社会保障在差别社会未必是公平社会保障模式的情况下,应构建以长期目标与城镇社会保障体系接轨的,以"底线保障"为基础的,柔性过渡的分类分层农民工社会保障制度模式。     

Do the OECD 24 month horizon growth forecasts for the G7–countries contain information?

The OECD produces two–year–ahead growth forecasts for the G7–countries since 1987; these forecasts have never been evaluated. A regression is developed that tests for the information content of the forecasts. The idea is that this content is the added value forecasters incorporate in their forecasts. The information content is defined relative to the forecast for the previous year. In the end, the added value contained in the current year forecast is calculated relative to the last observation. The test consists in checking whether the information content reduces the forecasts error.

The study begins with a calculation of the usual accuracy statistics. These indicate an extreme low quality for the forecasts. The regression tests support this conclusion although the forecasts for Japan do possess some information. Alarming for users of forecasts is that there are no obvious alternatives.     

从技术引进到自主创新——河南金龙精密铜管集团自主创新战略案例分析

本文阐述了河南金龙精密铜管集团从技术引进到自主创新的发展历程,对其在技术引进、消化吸收再创新过程中的基本做法进行了分析。最后,在案例分析的基础上,得出如下结论:企业家的创新精神是企业实现自主创新的重要保证;对以设备为载体的先进技术的消化吸收是企业发展的有效途径;技术引进、消化吸收后的持续创新是企业实现从引进向创新跨越的关键;战略创新是企业发展壮大的必由之路。     

关于按劳分配问题的几点意见--对梁玉秋博士按劳分配观点的评论

研究按劳分配问题的关键是要说明按劳分配原则的实现形式,说明按劳分配的“劳”究竟是什么,以及如何计量的问题。梁博士把“劳”解释为“有效劳动”是不正确的,因为按“有效劳动”分配无法实现按劳分配的原则。笔者认为,“劳”指的是劳动者付出的个人劳动中包含的抽象劳动,认识到这一点之后就能解决“劳”的计量问题,也就能说明按劳分配原则的实现形式,也就能使按劳分配理论科学化,并实现按劳分配的原则了。     

态度变化能预测家族企业职业经理忠诚度吗？——个人特质的调节作用

职业经理化是我国家族企业成长为＂现代企业＂的必由之路。但职业经理忠诚度低下,甚至＂背叛＂雇主的现象频频发生却伤害了双方的彼此信任,使企业家与经理人之间的合作难以长期持续。本文目的在于寻找职业经理忠诚度的预测方法。通过检验忠诚度的直接前因——态度变量,我们发现,满意度和承诺度、工作搜寻意愿对职业经理忠诚度具有显著预测效应。同时,工作参与度、承诺倾向、创业动机等个人特质也显著影响忠诚度。这三个特质变量还对态度变量与忠诚度之间的关系具有显著的调节作用。此项研究给出了一种预测职业经理忠诚度的方法,加深了对企业家与经理人真诚合作的条件的理解。     

Optimal monetary rules: the case of Brazil

Within a dynamic programming approach, an optimal rule for the central bank to attain its inflation targeting goals is derived. The short-run nominal interest rate is used as an instrument to achieve monetary objectives. The model is tested for the Brazilian economy and compared with results found for other countries. Evidence for the estimated feedback interest rule for the Central Bank suggests that the cost of reducing inflation in an open economy is lower than that of a closed economy.     

EXPORT DIVERSIFICATION AND EXPORT PERFORMANCE BY DESTINATION COUNTRY

The main focus of this paper is the relationship between export diversification and export performance. The key difference with respect to the previous literature is that export diversification is measured and related to export volume by destination country. The approach is empirical and an aggregate export demand setting is adopted to test the significance and influence of export diversification, measured via the Herfindahl index, on export performance by destination country. The econometric estimation is performed using export data for Spain to its partner countries for the period 1999–2011. The main finding is the positive relationship between Spanish export concentration and export performance by destination market. This finding is shown to be robust to several econometric specifications.     

On the empirical specification of the European demand for money

This paper tests several aspects concerning the specification of an empirical demand for money function for the European Monetary Union. The econometric results show that wealth is a statistically significant determinant for the demand for money. A homogeneous sample period is statistically established, and a demand equation for liquid assets (other than strict money) is presented. A new method to weight and add national variables is also suggested to obtain European aggregates. The main policy implication is that monetary aggregate targeting should not be the main basis for monetary policy implementation.     

Valuing ecosystem services: A shadow price for net primary production

We analyze the contribution of ecosystem services to GDP and use this contribution to calculate an empirical price for ecosystem services. Net primary production is used as a proxy for ecosystem services and, along with capital and labor, is used to estimate a Cobb Douglas production function from an international panel. A positive output elasticity for net primary production probably measures both marketed and nonmarketed contributions of ecosystems services. The production function is used to calculate the marginal product of net primary production, which is the shadow price for ecosystem services. The shadow price generally is greatest for developed nations, which have larger technical scalars and use less net primary production per unit output. The rate of technical substitution indicates that the quantity of capital needed to replace a unit of net primary production tends to increase with economic development, and this rate of replacement may ultimately constrain economic growth.     

Informality and credit constraints: evidence from Sub-Saharan African MSEs

The attributes of micro and small enterprises (MSEs) influencing access to credit, in particular the level and role of firm informality, are analysed in the article. The puzzle is the push for MSEs to join the formal sector and the tug to avoid the extra burden it places on the firm. It is important to know more clearly what forces are at work and the sources of the causal effects. This study uses data from the World Bank Enterprise Surveys for five low-income countries (LICs) in Sub-Saharan Africa. The method is empirical and as we find informality to be endogenous to credit constraints, an instrumental variable approach is estimated. Further, to address the possibility of reverse causality, an instrument for the informality variable is required; not registered with Inland Revenue (tax office) is the chosen instrument variable. The findings reveal that as the probability of a firm operating in the formal sector increases, there is greater access to external credit. The causality relationships are tested providing a strong platform for the formalization of polices to reduce the informality of the MSE sector. These are discussed in the context of the research findings.     

Employment changes, the structure of adjustment costs, and plant size

In this paper, we analyze the pattern of employment adjustment using a rich panel of Norwegian plants. The data suggest that the frequency of episodes of zero net employment changes is inversely related to plant size. We develop and estimate a simple “q” model of labor demand, allowing for the presence of fixed, linear and quadratic components of adjustment costs. The econometric evidence supports the existence of purely fixed components, unrelated to plant size. As a result, the range of inaction is wider for smaller plants. The quadratic component of costs is also always important. In most specifications fixed costs are higher for employment contractions. The quadratic component is higher during employment contractions compared to expansions for small plants, while this is not true for larger plants.     

Applying conjoint analysis in economic evaluations: an application to menorrhagia

The increased demand for health care, coupled with limited resources, means that decisions have to be made concerning the allocation of scarce health care resources. This paper considers how conjoint analysis (CA) can be used to aid this decision making process. It is shown how the technique can be used to estimate marginal rates of substitution between attributes, willingness to pay (WTP) if cost is included as an attribute and overall utility scores for different ways of providing a service. The technique is applied to consider women's preferences for two surgical procedures in the treatment of menorrhagia: hysterectomy and conservative surgery. The results suggest conservative surgery is preferred to hysterectomy, as indicated by higher utility scores for the former and a marginal WTP of 7593 to have conservative surgery rather than hysterectomy. The internal validity of CA was also shown. It is concluded that CA is a potentially useful instrument for policy makers. However, numerous methodological issues need addressing before the technique becomes an established instrument within economic evaluations.     

The Study of Fuzzy Line Control for Multiple Intersections

The line control for multiple intersections is a hot spot in the area of transportation. According to the principle of system analysis and coordination, a method about fuzzy line control for multiple intersections is proposed. The system is made of two control units, one is the basic control unit for every single intersection, and the other is used for the function of coordination.     

略论中小企业的品牌营销策略

主要论述了中小企业进行品牌营销的基本内涵与策略。认为品牌的实质是能给其拥有者产生增值和长期竞争力的一种无形资产。实施品牌营销是中小企业走出产品同质化困境的有效措施,应重点把握品牌创建、品牌运用和品牌维护三个环节并提出了相应对策,其核心任务是培养和提高消费者对企业及产品品牌的忠诚度。     

R&D and productivity in Danish firms: some empirical evidence

The aim of the paper is to examine the relationship between R&D capital and productivity using microdata for Danish manufacturing firms. The influence of factors such as ownership, innovative characteristics and source of funding accounted for. The return to accumulated R&D capital is estimated to be in the neighbourhood of 9–12%, whereas the short-run effect of R&D is insignificant. Furthermore, the direct influence from foreign ownership, source of funding accounted for, innovative characteristics and ownership dispersion on productivity are analysed. However, none of the factors seem to have an impact on firm productivity. The same is the case for the indirect influence coming from interaction with accumulated R&D capital.     

企业家精神与南昌众创空间涌现--基于演化经济地理学视角

众创空间大量涌现是近年来新的空间经济景观。文章基于演化经济地理学,研究了企业家精神在南昌众创空间和创客项目形成过程中的作用机制。采用访谈与问卷方法,对6家众创空间进行了访谈,对创客项目发放了45份调查问卷。研究发现,对众创空间而言,创办者社会关系本地嵌入、房产资源的沉没投入是他们在南昌创办众创空间的重要原因;金融资本对企业家在南昌创办众创空间的影响由弱到强。对创客项目而言,尽管创业者的创业知识可能来自外地,但创业者社会关系本地嵌入是他们选择在南昌创业的重要原因;金融资本对创业者的影响也由弱到强。文章还研究了政策对众创空间涌现的影响。与通常默认"双创"政策对众创空间与创客项目涌现具有重要推动作用不同,文章认为政策对众创空间涌现的作用主要为信息杠杆与政策背书,而财政、货币激励主要对政策套利型众创空间涌现产生较强作用。     

Economic Growth and Verdoorn's Law in the Spanish Regions, 1962-91

The aim of this paper is to test for the presence of dynamic increasing returns to scale in the Spanish regions between 1962 and 1991.The framework in which this paper is based is the so-called Verdoorn's Law. Tests are carried out for the manufacturing sector, agriculture, construction, services and total value added. The results show substantial increasing returns for manufacturing, services sector and for total value added. The staticdynamic paradox found by McCombie (1982) is also discussed and tested. We find no support for the hypothesis of a Cobb-Douglas function as the underlying technical relationship of the law.     

WHAT CAN ECONOMIC ANALYSIS CONTRIBUTE TO THE ‘SUSTAINABILITY’ DEBATE?

Economics generally, and benefit-cost analysis in particular, are not substitutes for values. They are tools of analysis that rest on assumptions about values. The primary role for economics in normative analysis is to provide information about efficiently achieving that which is valued, not to make the decision. The major economic tool for analyzing normative issues is benefit-cost analysis. This paper considers the role of benefit-cost analysis in addressing the sustainability debate. The notion of "sustain-ability" raises concerns about values held by society. The analysis here addresses several issues within the sustainability debate: concerns about intergenerational equity including the appropriate discount rate for projects with environmental consequences; implications for burdens on future generations; and the moral basis for benefit-cost analysis. The authors argue that the correct discount rate for all such projects is the social rate of time preference, and that suggestions for using lower discount rates result from attempting to prevent inequities by adjusting prices. Additionally, the authors argue that economic analysis, especially benefit-cost analysis, can play a useful role in providing information to decision makers, who ultimately will face resource allocation issues as they seek to implement policies promoting sustainability.     

Dynamic factor demands and market structure under rational expectations: some estimates for the Italian manufacturing system

This paper deals with a dynamic model of the behaviour of firms under rational expectations. The adjustment cost framework is followed to describe production technologies. The objective of firms is to maximize the stream of future profits under rational expectation. First-order conditions for the optimum are derived with respect to input demands and one output supply. The output market structure is modelled in order to test price taking behaviour. The adjustment costs of quasi-fixed inputs are internal and interrelated. The model is estimated for the Italian manufacturing system with encouraging results.