如何减小全球经济失衡的纠正对中国的冲击

全球经济失衡的根本原因 全球经济失衡的明显特征是经常账户的失衡和长期利率偏低导致许多国家房地产价格的"泡沫性"上涨.对于这一现象的解释分为两个阵营.以即将成为美联储主席的伯南克为首的经济学家认为亚洲国家的高储蓄率导致全球性储蓄过剩,压低了长期实际利率.他们中有不少人把矛头指向中国,认为人民币缺乏灵活性使中国经常账户顺差近年来大幅上升,在固定汇率制下中国大量购买美元资产,为美国的贸易逆差"买单".但是,也有一些经济学家包括不少中国经济学家认为,美国财政赤字的恶化和前期的低利率政策大大降低了美国政府和家庭储蓄,是导致全球经济不平衡的根本原因.但是这种观点无法解释全球利率偏低这一现象,因为美国对于资本流入需求的增长应当推高而不是降低全球利率水平.     

Treatment of contaminated groundwater in sandy layer under river bank by electrokinetic and ultrasonic technology.

A series of laboratory experiments involving simple, ultrasonic, electrokinetic, electrokinetic/ ultrasonic flushing test were carried out for treatment and removal of heavy metal and hydrocarbon from contaminated groundwater in sandy layers under a river bank. The test results show that the electrokinetic/ultrasonic flushing technique is most effective for the removal of heavy metal and hydrocarbon from contaminated sandy layers by the coupling action of their own phenomena. It is shown that the electrokinetic technique is most effective to enhance the removal efficiency of heavy metal contaminants such as cadmium from contaminated sandy soil under the river bank; on the other hand the ultrasonic technique is most effective to enhance the removal efficiency of hydrocarbon contaminant, such as diesel fuel from contaminated soil.     

Rice Production,Trade and the Poor: Regional Effects of Rice Export Policy on Households in Vietnam

Analysing Vietnam's rice export policy and recent export ban in the context of rising food prices, this study combines insights from a regionally‐disaggregated or ‘bottom‐up’ CGE model and a micro‐simulation using household data. Three main conclusions are drawn. First, although there is little impact on GDP, there are substantial distributional impacts across regions and households from different export policies and market conditions. Second, both rural and urban households, including poor households, benefit from free trade, even though domestic rice prices are higher. Finally, under free trade, relatively large gains accrue to rural households, where poverty is most pervasive in Vietnam.     

Measuring scale efficiency from a parametric hyperbolic distance function

This paper shows how scale efficiency can be measured from an arbitrary parametric hyperbolic distance function with multiple outputs and multiple inputs. It extends the methods introduced by Ray (J Product Anal 11:183–194, 1998), and Balk (J Product Anal 15:159–183, 2001) and Ray (2003) that measure scale efficiency from a single-output multi-input distance function and from a multi-output and multi-input distance function, respectively. The method developed in the present paper is different from Ray’s and Balk’s in that it allows for simultaneous contraction of inputs and expansion of outputs. Theorems applicable to an arbitrary parametric hyperbolic distance function are introduced first, and then their uses in measuring scale efficiency are illustrated with the translog functional form.     

浅议基于耗散结构理论的煤结构演化过程

文章在简要介绍耗散结构及其理论要点基础上,通过综述相关文献,认为煤结构演化是一个耗散结构形成过程,具体表现为:煤结构体系是远离平衡态的非线性开放系统,通过不断与外界进行物质与能量交换,逐渐从混沌无序进入到稳定有序结构。     

我国煤矿安全事故分析及对策探究

随着矿井开采深度的增加,煤炭开采条件越来越复杂,管理更加困难,加之我国煤层赋存条件的复杂性,形成了与国民经济飞速发展所需要的大量煤炭资源相矛盾的突出状况,这给今后我国煤矿安全生产带来了极大的挑战。文章通过分析我国煤矿安全事故的特征及相关的事故原因,提出了相关的对策,以期望对指导我国煤矿安全生产有所启示。     

The impact of regulation FD on the information environment: evidence from the stock market response to stock split announcements

This paper examines the information environment effects of regulation fair disclosure (Reg FD). We investigate the stock market response to stock splits in the pre- and post-regulation periods. We find that abnormal returns around split announcement are positive in both periods, but the magnitude of the returns is smaller in the post-FD period relative to the pre-FD period. The difference between the pre- and post-FD period abnormal returns persists even after we control for factors that may affect split announcement returns. We also find that the magnitude of the association between announcement returns and the unexpected portion of the split factor has increased post-regulation. Our analysis of performance trends for split firms reveals that patterns of profitability and changes in profitability in the years around stock splits are similar in the pre- and post-FD periods. However, we find that announcement returns are associated with lagged profitability changes in the pre-FD period, but with future profitability changes in the post-FD period. Collectively, our results imply that Reg FD has reduced information asymmetry and improved price efficiency.     

Optimal growth when consumption takes time

This article analyzes a one‐sector growth model where the consumption takes time. When the consumption takes time, the consumption set is compact and we meet satiety. However, we prove that dynamic constraints are binding. This result is crucial to prove that, under well‐known assumptions in macroeconomic dynamic programming, the optimal path is monotonic and always converges to a unique nontrivial steady state as in the case where consumption is timeless.     

国有企业发展与改革的资金及成本问题

文章认为成本问题和资金问题是国有企业发展和改革的焦点问题,要明确界定成本的承担者,坚持效益与减负原则,多方筹集资金,合理分配资金。     

Optimal Structure of Technology Adoption and Creation: Basic versus Development Research in Relation to the Distance from the Technological Frontier*

Many economists maintain that in order to advance economic growth Asian countries should focus more on basic research than on technology adoption, and more on the supply of skilled workers than the supply of unskilled workers. In this context, this paper presents a theoretical model and empirical evidence to explain the observation that a country in which the level of technology approaches the technology frontier tends to rely more on technology creation than adoption, and invest more in basic research than in development. The model shows that technology creation involves both basic and development research processes, whereas technology adoption uses only the latter process. Therefore, R&D investment in our model involves three different processes: basic research in technology creation, development in technology creation, and development in technology adoption. The results suggest first that the rate of growth is positively correlated with the level of basic research activities in the technology creation sector, if a country's technology gap with the technology frontier is small enough. Second, an increase in the efficiency of the education system for highly skilled workers raises the level of basic research and the rate of growth. Third, verifying these theoretical results, empirical analyses using panel data from Korea, Japan and Taipei, China show that the narrower the distance to the technological frontier, the higher the growth effect of basic R&D, which indicates that the share of basic R&D matters for economic growth. Finally, the results also show that the quality of tertiary education has a significantly positive effect on the productivity of R&D.