土地制度冲击、土地财政弱化与地方经济波动

国内部分学者基于土地财政的含义,认为土地财政出现的制度根源之一固然是我国的土地制度.基于此,欲破解我国目前土地财政困境,必先从变革土地制度开始.而土地制度变革的影响集中体现在土地制度冲击方面,土地制度的冲击通过弱化土地财政影响,进而引起地方经济的波动.试图构建代表性家庭、代表性企业及政府3个部门的新凯恩斯主义动态随机一般均衡(DSGE)模型,将土地制度冲击纳入其中.在此基础上讨论不同土地流转冲击下的经济产出、代表性家庭的消费、政府投资及政府债务等变量的变化,以揭示土地流转对于土地财政治理的影响.     

总经理继任对创新可持续性的影响

创新活动具有较高调整成本,因而保证创新可持续性对中国企业发展意义重大。以2006-2014年A股制造业上市公司为样本,分析了总经理继任对创新可持续性的影响,并考虑了产品市场竞争和期望绩效反馈的情境效应。实证结果显示：总经理继任对创新可持续性具有负向影响;产品市场竞争越激烈,总经理继任对创新可持续性的负向作用越强;当企业实际绩效低于期望绩效时,产品市场竞争的负向调节作用更为显著;然而,在实际绩效高于期望绩效的情况下,产品市场竞争的负向调节作用被减弱。     

通用航空飞机融资租赁风险管理研究——以A通航融资租赁公司为例

近年来,为助力通用航空业务发展诞生了一批专业的通用航空飞机融资租赁企业,并累计为数千架次通用航空飞机提供了融资租赁服务。本文基于弥补行业健康良性发展理论,着重就通用航空飞机租赁业务中租赁物风险、承租人和出租人各自将承担的风险以及如何管理各方风险进行研究。研究表明通用航空融资租赁业务在租赁物飞机选择上应首选市场保有量大的机型,并始终确保飞机处于适航状态,承租人应首选有着丰富通航飞机运营经验的企业,租赁方案除平衡风险和收益外,明晰租赁物所有权至为重要。本文丰富了通用航空融资租赁业务相关文献,为行业实践工作提供了可行操作指南。     

对《就业、利息和货币通论》的几点思考

阅读《就业、利息和货币通论》是一个困难的过程,但是也有所获益。以下就《通论》的一些内容作思考,并结合中国实际,来探讨《通论》中是否有可供我国借鉴的一些方面。     

总分结构理论与我国民法典的编纂

总分结构体系是《德国民法典》体系的最大特点,已经转化为我国民事立法的传统。民法典制定的科学性,需要使得法典具有唯理性、抽象性和逻辑性,总分结构的民法典使得法典的价值、规则具有统合性和融贯性、概念和规则的统一性和科层性、规则设计的简洁性与民法典具有开放性和社会回应性。我国民法典应借鉴总分结构理论构建民法典科学体系、借鉴总分结构理论实现民法典分编的体系化、以《民法总则》实现民法典分则各编的引领,同时,需要努力克服总分结构所具有的缺陷。     

GATS与高等教育

在GATS框架下,高等教育服务贸易发展呈现出进一步扩大和自由化的趋势,对高等教育服务贸易的承诺在诸多方面影响着我国高等教育的发展。目前,我国高等教育出现了明显的商业化倾向,而且《服务贸易总协定》也把跨境交付、境外消费、商业存在、自然人流动等高等教育服务方式涵盖在其中。为了应对加入WTO后给我国高等教育带来的冲击,我国应该重视网络高等教育的发展,增加优质的高等教育资源供给,缓解高等教育投资供给和需求的矛盾,扩大中外合作办学的规模,并关注发展中国家与发达国家的学历相互认可和学历标准化问题,以提高我国高校的国际地位,扩大国际生源。     

Computable general equilibrium with financial markets

Summary. There are a wide variety of theoretical general equilibrium models with incomplete security markets. In this paper we give a general recipe for using homotopy algorithm to compute equilibria in these models. In many models, taxes, transaction-costs or other market frictions introduce the additional difficulty that equilibrium prices or choices (but not equilibrium allocations) may be undetermined. In order to demonstrate how these difficulties can be dealt with, we develop a globally convergent algorithm to compute equilibria in a model with cash-in-advance constraints, several goods and incomplete financial markets. Furthermore we describe how to implement the algorithm using a publicly available suite of subroutines for homotopy-pathfollowing. Received: October 1, 1999; revised version: December 16, 2000     

The complete removal of individual uncertainty: multiple optimal choices and random exchange economies

Summary. The aim of this paper is to develop some measure-theoretic methods for the study of large economic systems with individual-specific randomness and multiple optimal actions. In particular, for a suitably formulated continuum of correspondences, an exact version of the law of large numbers in distribution is characterized in terms of almost independence, which leads to several other versions of the law of large numbers in terms of integration of correspondences. Widespread correlation due to multiple optimal actions is also shown to be removable via a redistribution. These results allow the complete removal of individual risks or uncertainty in economic models where non-unique best choices are inevitable. Applications are illustrated through establishing stochastic consistency in general equilibrium models with idiosyncratic shocks in endowments and preferences. In particular, the existence of “global” solutions preserving microscopic independence structure is shown in terms of competitive equilibria for the cases of divisible and indivisible goods as well as in terms of core for a case with indivisible goods where a competitive equilibrium may not exist. An important feature of the idealized equilibrium models considered here is that standard results on measure-theoretic economies are now directly applicable to the case of random economies. Some asymptotic interpretation of the results are also discussed. It is also pointed out that the usual unit interval [0,1] can be used as an index set in our setting, provided that it is endowed together with some sample space a suitable larger measure structure. Received: September 14, 1998; revised version: January 6, 1999