降低电网企业垄断程度的改革策略分析

电网一般认为是自然垄断经营的.降低电网垄断经营的主要手段之一是输配分开.输配分开是我国电力体制改革存在争议的热点问题,具有较高的改革成本和风险.分析了自然垄断行业的模拟竞争,提出模拟竞争是在自然垄断行业引入竞争的主要方式;通过总结分析国外改革情况,提出输配分开并不是电力改革的必然选择;全面分析了输配分开的改革成本和改革风险,如输配电界限的动态变化、降低电网经营的规模效益等,指出了输配分开的改革成本和改革风险;最后分析了输配分开的期望效益.     

企业成本削减能力现状调查研究——以长株潭两型社会建设试验区为例

目前,我国众多企业普遍存在资源利用率不高、资源耗费量大以及对环境污染大的问题,这与企业成本管理水平有着必然的联系。可见,企业成本管理水平对我国＂两型社会＂建设有着重要影响,非常迫切需要我们对企业成本削减能力现状进行相关实证研究。因此,文章运用问卷调查实证研究方法,对长株潭企业成本削减能力的现状进行调查研究,统计分析结果为我们从生态效率角度提升企业成本削减能力提供实证支持。     

利率规则的福利成本及对我国货币政策的启示——基于新凯恩斯DSGE模型的分析

文章建立了一个新凯恩斯框架下的DSGE模型来分析当期型、前瞻型和后顾型三种利率规则的福利效应。福利的测度为代表性家庭的终身效用,计算出了不同利率规则下的福利成本,其主要发现有：名义利率对通货膨胀的反应系数越大则福利成本越小;名义利率对产出变化的反应系数越大则福利成本越大;利率平滑在三种利率规则下对福利成本分别有着不同的影响。这些结果为我国的货币政策提供了借鉴。     

不确定性条件下风电并网成本分摊方式对风电供给函数的影响

根据风电间歇性特点,分析不同的并网成本分摊方式对风电供给函数的影响。基于并网成本是可再生能源投资的一个重要组成部分,研究风电生产商和电网运营商的成本分配责任界限,和不同的并网成本分摊方式对分配机制的影响。结果证明:若并网成本由电网运营商来承担,则会产生较低的生产者剩余并且致使电力消费者获得较少的转移成本。     

THE GENERAL STRUCTURE OF OPTIMAL INVESTMENT AND CONSUMPTION WITH SMALL TRANSACTION COSTS

We investigate the general structure of optimal investment and consumption with small proportional transaction costs. For a safe asset and a risky asset with general continuous dynamics, traded with random and time‐varying but small transaction costs, we derive simple formal asymptotics for the optimal policy and welfare. These reveal the roles of the investors' preferences as well as the market and cost dynamics, and also lead to a fully dynamic model for the implied trading volume. In frictionless models that can be solved in closed form, explicit formulas for the leading‐order corrections due to small transaction costs are obtained.     

Integrating nanotechnology into agri-food systems research in India: A conceptual framework

The implications of current trends in nanotechnology for the agri-food sector in India are assessed. Using published literature and patents data, a model to organize the information is developed through a specially designed database. The database allows mapping research themes in nanotechnology to specific sectors in the agricultural value chain to enable a rational assessment of the potential applications of nanotechnology in the agri-food sector, identifying and prioritizing research needs across the agricultural value chain, and assessing the environmental and societal implications of this emerging technology.     

低碳与高成本运行环境下的广东物流产业升级路径与对策

在阐述广东省物流产业现状的基础上,分析了低碳经济政策、高油价、高路桥费的物流产业运行环境和产业结构调整给广东物流业带来的压力与挑战,认为在全球物流价值链中从功能操作向一体化集成物流发展将是广东物流产业升级的路径与方向,文章最后还就广东物流产业升级问题提出了相应的对策与建议。     

On the welfare costs of business-cycle fluctuations and economic-growth variation in the 20th century and beyond

The main objective of this paper is to propose a novel setup that allows estimating separately the welfare costs of the uncertainty stemming from business-cycle fluctuations and from economic-growth variation, when the two types of shocks associated with them (respectively, transitory and permanent shocks) hit consumption simultaneously. Separating these welfare costs requires dealing with degenerate bivariate distributions. Levi's Continuity Theorem and the Disintegration Theorem allow us to adequately define the one-dimensional limiting marginal distributions. Under Normality, we show that the parameters of the original marginal distributions are not affected, providing the means for calculating separately the welfare costs of business-cycle fluctuations and of economic-growth variation.Our empirical results show that, if we consider only transitory shocks, the welfare cost of business cycles is much smaller than previously thought. Indeed, we found it to be negative – −0.03% of per-capita consumption! On the other hand, we found that the welfare cost of economic-growth variation is relatively large. Our estimate for reasonable preference-parameter values shows that it is 0.71% of consumption – US$ 208.98 per person, per year.     

FROM INSTITUTIONS TO FINANCIAL DEVELOPMENT AND GROWTH: WHAT ARE THE LINKS?

This paper presents an integrated overview of the literature linking institutions, financial development, and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional arrangements in ameliorating/worsening the information frictions and transaction costs that characterize the development of financial markets. The paper then investigates the theoretical mechanisms by which these specific frictions affect economic growth and presents the stock of empirical evidence quantifying the impact of institutions on growth through financial development.     

Share price anticipation of earnings and management's discussion of operations and financing

This paper combines research on the measurement of disclosure quality and the measurement of share price anticipation of earnings to produce a new test of the usefulness of the information disclosed in management discussions of operations and financing for predicting future earnings. Market-Based Accounting Research has shown that earnings changes are anticipated and impounded in prices well before the financial year for which earnings are reported. This price anticipation leads to downward biased earnings response coefficients (ERCs) in the commonly estimated regression model of returns on contemporaneous earnings changes. We exploit predictable differences in the biasedness of the ERC estimate across firm-years to test the hypothesis that share prices are better informed when the annual report contains a detailed discussion of the firm's operations and financing. Our results suggest that such voluntary disclosure may have been useful in predicting future earnings changes. The effect would appear to be strongest (1) in models that examine one-period-ahead and two-period-ahead share price anticipation and (2) when we employ a disclosure index that captures forward-looking information.