Regulatory design and incentives for renewable energy

Increasing electric power production from renewable energy sources is currently one of the major objectives of energy policy. The intermittent nature of renewables, such as wind and solar, necessarily imposes complex trade-offs for regulatory objectives, such as resource adequacy (and system reliability) versus reductions in green house gas emissions. We develop a highly stylized model of investments in order to derive insights regarding the workings of regulatory incentives for increased renewable energy. We first show that incentives are indeed needed when there are significant economies of scale in the form of “learning by doing” or alternatively, when there is excess capacity in conventional technology due to legacy investments. We analyze two different regulatory schemes (feed-in tariffs and renewable portafolio standards) aimed at increasing investment in renewable capacity. We show that neither scheme is capable of inducing the socially optimal level of investment in renewable capacity. A single feed-in tariff fails to induce optimal investment as a feed-in tariff exceeding marginal costs of conventional technology incentivizes over-development of the most attractive sites which preempts investment in less attractive, yet socially valuable sites. A renewable portfolio standard that promotes increased investment in renewable technology induces under-investment in the conventional technology. These results suggest that a “clinical” regulatory design, that is, one that promotes the right amount of renewable capacity without affecting conventional capacity is a challenging proposition.     

Partial cross-ownership and strategic environmental policy

This paper analyzes the effect of passive investment in rival firms on the setting of cooperative and non-cooperative environmental taxes. We consider two firms located in different countries, with each firm owning the same percentage of the stock of its rival. We show that bilateral partial cross-ownership affects the taxes set by the countries in the cooperative and non-cooperative cases. When the stake that one firm has in its rival is great enough and environmental spillovers are low enough, cooperative taxes are lower than non-cooperative taxes. For the remaining values of parameters the opposite result is obtained.     

Imitation with asymmetric memory

Models of learning in games based on imitation have provided fundamental insights as the relevance of risk-dominance equilibria or perfectly competitive outcomes. It has also been shown, however, that the introduction of nontrivial memory in those models fundamentally alters the results. This paper further considers the effect of asymmetric memory length in the population. We focus on two classical results and find that, while asymmetric memory crucially affects equilibrium selection in coordination games, it reinforces the stability of perfectly competitive outcomes in oligopoly games. The latter result is generalized to aggregative games and to finite population ESS in symmetric games.     

应调整《国家赔偿法修正案征求意见稿》的有关赔偿范围

1995年实施的《国家赔偿法》在赔偿范围上的立法缺陷主要表现在引发赔偿的行为范围和赔偿的损害范围两个方面。在十一届全国人大常委会第五次会议初次审议的《中华人民共和国国家赔偿法修正案(草案)》中,赔偿的损害范围已经得到扩大,但是在引发赔偿的行为方面并未进行相应调整。应该将行政不作为、公共设施的设置或管理不当行为以及立法行为造成的损害都纳入国家赔偿的调整范围中。     

商业银行财务绩效评价体系的评述和构建

文章从我国银行业改革的历史进程研究出发，对我国和国外商业银行绩效评价体系的演进进行分析和比较，在借鉴国外经验和结合我国银行业实际情况的基础上试图构建一套适合我国商业银行、更为科学合理的绩效评价体系。     

Accruals quality and corporate cash holdings

This Work Uses Panel Data For Firms Listed In The Spanish Stock Exchange Over The Period From 1995 To 2001 To Analyse The Effect Of Accounting Quality On Cash Holdings. The Results Show That Firms With Good Accruals Quality Hold Lower Cash Levels Than Firms With Poor Accruals Quality. This Finding Suggests That The Quality Of Accounting Information May Reduce The Negative Effects Of Information Asymmetries And Adverse Selection Costs, Allowing Firms To Reduce Their Level Of Corporate Cash Holdings. The Results Also Show That Cash Holdings Decrease When Firms Increase Their Use Of Bank Debt And In The Presence Of Cash Substitutes. In Contrast With This, Firms With Higher Cash Flow Hold Higher Levels Of Cash.     

现代企业自主创新管理机制研究

提高自主创新能力是现代企业生存和发展的根本途径。通过对自主创新的概念、内涵、特点和机理的分析，建构了由核心技术竞争、科研力量整合、组织管理激励、科技成果转化四个因子组成的现代企业CIPT自主创新管理机制，从而为现代企业提高自主创新能力提供参考。     

长三角地区外资、外贸与经济增长关系研究——基于协整和Granger因果关系分析

本文根据苏浙沪两省一市1985~2006年实际利用外国直接投资存量、进口流量、出口流量和地区生产总值的年度数据,采用协整和Granger因果关系检验对长三角地区外资、外贸与经济增长之间的关系进行实证研究。结果表明,它们之间存在着长期稳定均衡关系;外资和出口贸易在长期和短期都具有经济增长效应,而进口只在长期具有经济增长效应;在短期,外资具有贸易创造效应,出口能够拉动进口。文章最后根据实证检验结果提出相应的政策建议。     

Open Innovation und Beziehungsmanagement bei Henkel

Eine Open-Innovation-Strategie greift auf externes Wissen zurück und steigert dadurch die unternehmensinterne Innovationskraft. Um auf externe Wissensquellen zurückzugreifen, stehen zahlreiche unterschiedliche Methoden zur Verfügung. Dieser Beitrag zeigt, zu welchem Zeitpunkt im Innovationsprozess bei Henkel welche Methoden eingesetzt werden und welche überlegungen dahinter stehen.     

造假经济的研究分析——以深圳为例

本文研究了一个还没有被充分认识,但却日益受到人们关注的经济活动领域—造假经济。目前关于造假经济方面的专门研究还存在极大不足。近年来,据有关数据显示,造假经济一直具有相当规模,并且严重影响了社会经济发展的正常秩序。另外,由于深圳地区经济发展的不平衡性及其他特殊性,造假经济在这一地区体现得非常明显。因此结合深圳市经济发展的现状,对造假经济进行系统和深入的研究就显得十分必要。本文首先从经济学原理视角出发界定造假经济基本概念,然后在此基础上分析了深圳造假经济的特征和特殊成因等方面,最后结合治理现状提出相应的治理对策建议。