隐性贸易壁垒的鉴别标准

全新的非关税壁垒以表面上的中立进行着变相的歧视。如何将这些隐性贸易壁垒与真正的劳工、环境、卫生、安全措施区分开来是急待解决的问题。本从众多国际贸易实例中总结了一些隐性贸易壁垒措施的共性特征，试图构建一整套隐性贸易壁垒的鉴别规则，以期有效地阻却歧视与偏见，引导国际竞争朝着公平、自由、健康的方向不断发展。     

Delayed integration as a possible remedy for the race to the bottom

It has been a long-standing concern in the literature that household mobility implies a serious threat to redistributive taxation. This paper considers the effects of delayed integration of migrants into the redistributive system of the target country. We argue that delayed integration may introduce a time consistency problem into governments' tax plans that reduces a region's incentive to undercut other regions' tax rates and can bring tax competition to a halt. Due to delayed integration, rich migrants cease to benefit from the lower tax rate in the current period. At the same time, the region's promise of a low rate in the future lacks credibility, since delayed integration locks in migrants once they are settled. We also explore the case where poor recipients of social assistance are mobile, while the rich are immobile.     

出口贸易管制制度与中国的实践

实施一定的出口贸易管制措施不仅符合国际贸易规则，也是其他国家都在采取的做法，但其具体存在之理由是多方面的。在考察了WTO协定与普遍存在的出口贸易管制措施问的相容性，并分析了我国加入世贸后两起重要的出口贸易管制措施案后，针对我国国内经济及对外贸易发展之实况，提出了实施出口贸易管制的建议。     

Nonparametric maximum likelihood estimation in a non locally compact setting

Maximum likelihood estimation is considered in the context of infinite dimensional parameter spaces. It is shown that in some locally convex parameter spaces sequential compactness of the bounded sets ensures the existence of minimizers of objective functions and the consistency of maximum likelihood estimators in an appropriate topology. The theory is applied to revisit some classical problems of nonparametric maximum likelihood estimation, to study location parameters in Banach spaces, and finally to obtain Varadarajan’s theorem on the convergence of empirical measures in the form of a consistency result for a sequence of maximum likelihood estimators. Several parameter spaces sharing the crucial compactness property are identified. This research was supported by grants from the National Sciences and Engineering Research Council of Canada and the Fonds FCAR de la Province de Québec.     

管理者个体行为与公司财务行为国外研究述评--基于行为一致性理论视角

行为一致性理论是心理学领域研究个体行为及行为风格跨情景一致性的重要假说.近期国外财务文献开始关注行为一致性理论视角的管理者特殊经历、个体行为与公司财务行为的关系问题,相关研究发现管理者特殊经历、个体行为的差异能够有效解释公司财务行为的选择.文章在回顾管理者与公司财务行为理论关系、行为一致性理论发展的基础上,构建了管理者特殊经历、个体行为对公司财务行为影响的分析框架,并从公司资本结构决策、投资行为、信息披露、避税行为等方面系统梳理了上述研究文献.最后对未来研究进行了展望,以期为国内相关研究提供借鉴.     

Paradoxical side effects of green advertising: how purchasing green products may instigate licensing effects for consumers with a weak environmental identity

Abstract

Research into green advertising has mainly investigated how green appeals can enhance product attitudes, sales, and brand image. But what happens after people have purchased a ‘green’ product advertised in a green ad? In two experiments, we show that purchasing a green product may have paradoxical post-purchase effects, such that it may lower intentions to engage in subsequent environmentally friendly behaviour (a so-called licensing effect). Importantly, our results show that these post-purchase effects are moderated by environmental identity: only people with a weak environmental identity show these paradoxical post-purchase licensing effects, people with a strong environmental identity are more likely to continue behaving in an environmentally friendly way.     

Pollution,mortality and time consistent abatement taxes

We study dynamically consistent policy in a neoclassical overlapping generations growth model where pollution externalities undermine health but are mitigated via tax-financed abatement. With arbitrarily constant taxation, two steady states arise: an unstable ‘poverty trap’ and a ‘neoclassical’ steady state near which the dynamics might either be monotonically convergent or oscillating. When the planner chooses a time consistent abatement path that maximizes a weighted intergenerational sum of expected utility, the optimal tax is zero at low levels of capital and then a weakly increasing function of the capital stock. The non-homogeneity of the tax function along with its feedback effect on savings induces additional steady states, stability reversals and oscillations.     

DYNAMIC COHERENT ACCEPTABILITY INDICES AND THEIR APPLICATIONS TO FINANCE

In this paper, we present a theoretical framework for studying coherent acceptability indices (CAIs) in a dynamic setup. We study dynamic CAIs (DCAIs) and dynamic coherent risk measures (DCRMs), and we establish a duality between them. We derive a representation theorem for DCRMs in terms of a so‐called dynamically consistent sequence of sets of probability measures. Based on these results, we give a specific construction of DCAIs. We also provide examples of DCAIs, both abstract and also some that generalize selected classical financial measures of portfolio performance.     

基金投资风格一致性及其对基金绩效的影响

以2004年2月27日之前上市的29只开放式股票型基金为样本,采用RSA风格分析方法,对投资风格进行静态分析和滚动分析,并设计投资风格一致性指标,考察中国开放式股票型基金的实际投资风格,以及投资风格一致性对基金绩效的影响。研究发现:中国证券投资基金实际投资风格与其所宣称的投资风格不匹配;在行情上升阶段,投资风格一致性高的基金绩效优于投资风格一致性低的基金,而在行情下降阶段则不存在显著差异。