An empirical note about estimation and forecasting Latin American Forex returns volatility: the role of long memory and random level shifts components

Portuguese Economic Journal - A set of RLS-type models with ARMA and ARFIMA dynamics is estimated and compared in a forecasting exercise with ARFIMA, GARCH and FIGARCH models. It is an extension of...     

绿色全要素生产率的区域差异与动态演化

文章基于2001-2017年中国大陆30个省份的面板数据,综合运用SBM-DEA模型、dagum基尼系数和马尔科夫链等多种方法,对中国绿色全要素生产率的区域差异与动态演化进行了分析.研究发现:中国绿色全要素生产率整体呈波动上升趋势,存在显著的非均衡特征且随着时间的推移明显加剧;区域间差异与超变密度差异是绿色全要素生产率差异的主要来源;中国区域绿色全要素生产率各种状态间的流动性较高.最后,研究从推进区域一体化战略,加强落后地区的基础设施建设及提高企业的信息化能力等方面提出缩小绿色全要素生产率差异的政策建议.     

NONPARAMETRIC AND SEMIPARAMETRIC PANEL DATA MODELS: RECENT DEVELOPMENTS

In this paper, we provide an intensive review of the recent developments for semiparametric and fully nonparametric panel data models that are linearly separable in the innovation and the individual-specific term. We analyze these developments under two alternative model specifications: fixed and random effects panel data models. More precisely, in the random effects setting, we focus our attention in the analysis of some efficiency issues that have to do with the so-called working independence condition. This assumption is introduced when estimating the asymptotic variance–covariance matrix of nonparametric estimators. In the fixed effects setting, to cope with the so-called incidental parameters problem, we consider two different estimation approaches: profiling techniques and differencing methods. Furthermore, we are also interested in the endogeneity problem and how instrumental variables are used in this context. In addition, for practitioners, we also show different ways of avoiding the so-called curse of dimensionality problem in pure nonparametric models. In this way, semiparametric and additive models appear as a solution when the number of explanatory variables is large.     

What is (or should be) the difference between competency modeling and traditional job analysis?

We argue that Competency Modeling (CM) has the potential to fill an important void in Traditional Job Analysis (TJA), specifically the infusion of strategic concerns in day-to-day employee behavior. Moreover TJA and CM pursue fundamentally different goals, which those who argue for and against either of these human resource methods at times may overlook. To buttress this point we compare TJA and CM along six dimensions: purpose (describe versus influence behavior), view of the job (an object to be described versus a role to be enacted), focus (job versus organization), time orientation (past versus future), performance level (typical versus maximum), and measurement approach (latent trait versus clinical judgment). We conclude with a series of recommendations regarding ways in which TJA can be joined with CM so that an organization may achieve, among other outcomes, the critical purpose of directing employee behavior toward the accomplishment of its strategic objectives.     

浅谈双壁波纹管排水管道工程的质量控制要点

文章从排水管道工程施工的整个流程,包括管材、装运、测量放线、沟槽开挖、管道基础、安管、接口、检查井闭水试验、回填土等质量控制步骤,对排水管道工程施工中常见的一些质量问题进行了分析,并有针对性地提出了相应的质量控制措施。     

Does Energy Consumption Respond to Price Shocks? Evidence from a Regression‐Discontinuity Design

We exploit unique features of a recently introduced tariff schedule for natural gas in Buenos Aires to estimate the short‐run impact of price shocks on residential energy utilization. The schedule induces a non‐linear and non‐monotonic relationship between households' accumulated consumption and unit prices, thus generating exogenous price variation, which we exploit in a regression‐discontinuity design. We find that a price increase causes a prompt and significant decline in gas consumption. The results also indicate that consumers respond more to recent past bills than to expected prices, which argues against an assumption of perfect awareness of complex price schedules by consumers.     

The Impact of Basel II on Lending to Small- and Medium-Sized Firms: A Regulatory Policy Assessment Based on Spanish Credit Register Data

The objective of this paper is to evaluate the impact on bank credit exposures to small- and medium-sized Spanish firms of the current proposal for reform of the 1988 Capital Accord using information from the Spanish Credit Register. Capital requirements for exposures to those firms, according to the various revisions of the proposed capital reform (from the January 2001 consultative document to the April 2003 one), are calculated to analyze whether the existing pattern of bank financing of small- and medium-sized firms might be altered. Finally, the incentives for individual banks to adopt the advanced internal ratings-based approach proposed by Basel II are evaluated.     

董事会结构、股权结构与中小企业绩效

以中小企业板2004～2009年数据为基础,分析了中小上市企业董事会结构、股权结构与绩效之间的关系。实证结果表明,中小上市企业的董事会结构、股权结构与绩效之间的内生性特征不显著。董事会规模对Tobin’Q具有负向影响,对总资产收益率无显著影响。CEO双重性对Tobin’Q和总资产收益率分别具有负向影响和正向影响。董事会独立性对总资产收益率具有负向影响,对Tobin’Q无显著影响,表明独立董事在中小上市企业中并未起到有效的监督作用。Tobin’Q和股权集中度之间呈现显著的倒W形关系,但总资产收益率和股权集中度之间无显著相关性。Tobin’Q和总资产收益率与管理层持股之间均呈现显著的N形关系。     

产权视角下城市社区居委会发展路径研究

我国城市格局逐渐由以单位为基本元素的体制向以社区为基本元素的体制变革,居委会是社区各项事务的管理与服务组织者,产权关系界定不清使居委会成为政府、民众乃至市场竞相逐利的“公共领域”,是导致社区工作效率低下的根本原因。为了明晰居委会的产权界定,实现社区资源的优化配置,市场化道路或者行政化道路应当是两条理想的改革路径。     

Generic determinacy of Nash equilibrium in network-formation games

This paper proves the generic determinacy of Nash equilibrium in network-formation games: for a generic assignment of utilities to networks, the set of probability distributions on networks induced by Nash equilibria is finite.