The regional effects of Indonesia's oil and gas policy: options for reform

This paper analyses the effects on the regions of Indonesia's fuel policy. It discusses how the sharing of oil and gas revenue and taxes between the centre and the regions affects the sub-national fiscal position, and examines the distribution of fuel subsidies across regions. The paper also examines the recent proposals to discontinue subsidising gasoline for private vehicles or to eliminate fuel subsidies altogether, and shows how the regions would be affected if these suggestions were adopted. We argue that the proposals would increase efficiency and equity and should therefore be implemented.     

FX spreads and dealer competition across the 24-hour trading day

This study examines the impact of competition on bid-ask spreadsin the spot foreign exchange market. We measure competitionprimarily by the number of dealers active in the market andfind that bid-ask spreads decrease with an increase in competition,even after controlling for the effects of volatility. The expectedlevel of competition is time varying, highly predictable, anddisplays a strong seasonal component that in part is inducedby geographic concentration of business activity over the 24-hourtrading day. Our estimates show that the expected addition ofone more competing dealer lowers the average quoted spread by1.7%     

浅谈高职高专数学教学方式方法的改革

数学教学方法的改革,其实并没有一种特定的模式,也不存在哪个最优、哪个最佳的问题,而是根据数学门类的不同,教师能比较科学、认真地构思、设计和实施数学教学的方式方法,灵活、多变、交错地运用,就可以达到预期的效果。在教学改革中,数学教学方式方法一定要有明确的指导思想、既定的目标、灵活的战术和合适的手段,特别是方案的选择要不断推敲,才能在课堂上收到理想的效果。     

The components of the bid-ask spread: a general approach

A simple time-series market microstructure model is constructedwithin which existing models of spread components are reconciled.We show that existing models fail to decompose the spread intoall its components. Two alternative extensions of the simplemodel are developed to identify all the components of the spreadand to estimate the spread at which trades occur. The empiricalresults support the presence of a large order processing componentand smaller, albeit significant, adverse selection and inventorycomponents. The spread components differ significantly accordingto trade size and are also sensitive to assumptions about therelation between orders and trades.     

基于嵌入式云平台的中继卫星系统地面终端站基带池设计技术

针对中继卫星系统地面终端站测控与数传业务设备套量种类繁多、专用性强、互替性弱的应用现状，通过对地面站基带开放式平台架构的研究，提出了一种嵌入式云平台部署方案和基于蓝图技术的全景动态重构技术路线，解决了地面终端站基带功能可扩展、终端可灵活重构、计算资源可按需配置、业务功能可在线定制和快速切换等问题。研制了原理样机并进行了演示实验，网络互联速率达到40 Gb/s，入网子颗粒5个，微颗粒达到32个，部署业务种类达到4种，单功能重构时间为30 s，与传统测控基带设备相比，在相同的建设成本下，处理能力提升5倍以上。实验结果表明，所提技术能够大大提高中继卫星系统地面终端适应战时快速响应与机动部署的能力，并有效降低设备研发、运营维护以及未来性能升级的成本。     

Factors Affecting Consumer Willingness to Pay for Certified Traceable Food in Jiangsu Province of China

Using data collected from a survey conducted in Jiangsu Province, China, we study consumer perceptions of and attitudes toward food traceability systems (FTS). Through econometric analysis, we examine the main factors that influence the willingness of consumers to pay a price premium for certified traceable food, as well as the actual premium these consumers are willing to bear. Our results indicate that an overwhelming majority of consumers in China are concerned about food safety, but consumers’ willingness to pay (WTP) a price premium for certified traceable food is limited. Income, education, perception of and attitudes toward FTS, as well as the degree of concern over food safety, have significant effects on the consumer's WTP a price premium for certified traceable food. However, the effects of these factors on the actual premium a consumer is willing to pay are quite different. Conditioned on the consumer being willing to pay a positive price premium, income level and the degree of concern over food safety are the only two factors that have significant effects on the actual premium consumers are willing to pay. À partir de données tirées d’un sondage mené dans la province du Jiangsu, en Chine, nous avons étudié la perception et l’attitude des consommateurs envers les systèmes de traçabilité des aliments. À l’aide d’analyses économétriques, nous avons examiné les principaux facteurs qui influencent le consentement des consommateurs à payer un prix supérieur pour des aliments dont la traçabilité est certifiée ainsi que le prix réel qu’ils sont prêts à payer. Les résultats de notre étude indiquent qu’une très grande majorité de consommateurs en Chine sont préoccupés par la sécurité alimentaire, mais que leur consentement à payer un prix supérieur pour des aliments dont la traçabilité est certifiée est limité. Le revenu, le niveau de scolarité, la perception et l’attitude envers les systèmes de traçabilité, de même que le degré de préoccupation concernant la sécurité alimentaire, ont des effets considérables sur le consentement des consommateurs à payer un prix supérieur pour des aliments dont la traçabilité est certifiée. Toutefois, les effets de ces facteurs sur le prix réel qu’un consommateur est prêt à payer sont très différents. Lorsque des consommateurs consentent à payer un prix supérieur, le niveau de revenu et le degré de préoccupation concernant la sécurité alimentaire sont les deux seuls facteurs qui influencent fortement le prix réel qu’ils sont prêts à payer.     

Volatility in the foreign currency futures market

We examine the volatility implications of around-the-clock foreignexchange trading with transaction data on futures contractsfrom the Chicago Mercantile Exchange and the London InternationalFinancial Futures Exchange. We find higher U.S.-European andU.S.-Japanese exchange-rate volatilities during U.S. tradinghours and higher European cross-rate volatilities during Europeantrading hours. While the disclosure of private information throughtrading may partly explain these volatility patterns, we concludethat the increased volatility is more likely driven by macroeconomicnews announcements. An analysis of inter- and intraday dataalso reveals that volatility increases at times that coincidewith the release of U.S. macroeconomic news.     

绿色技术创新能否推动中国制造业GVC攀升?——基于WIOD数据的实证检验

本文基于2000～2014年WIOD世界投入产出数据,测算全球43个经济体制造业行业的上游度、技术复杂度等指标,重新界定制造业行业升级方向,并以中国为研究对象实证检验绿色技术创新对制造业全球价值链升级的影响.研究结果表明,相较于发达国家,中国制造业处于全球价值链的上游位置,但分工地位较低、控制能力较弱;绿色技术创新与制造业全球价值链升级呈U型关系,即绿色技术创新跨越一定门槛才可推动制造业全球价值链升级;从绿色技术创新和全球价值链升级的行业异质性检验来看,上游主导型行业的二者呈显著的U型关系,下游主导型行业的二者呈显著的负相关关系,而混合主导型行业的二者呈正相关关系、但不显著.传导机制的检验结果表明,绿色技术创新可通过降低嵌入性依赖、改善出口贸易及降低污染成本来推动制造业全球价值链升级.     

对国有企业技术创新管理的认识与思考

通过国有企业与世界范围内技术创新特征及模式的对比分析指出 ,正确理解技术创新的内涵实质 ,确立企业技术创新的主体地位 ,营造有利于技术创新发展的内外环境等 ,是实现技术创新推动企业进步和经济增长的根本保证。