Neighbors and friends: How do European political parties respond to globalization?

This paper explores the relationship between globalization and party positions accounting for potential differences between left- and right-wing parties. The analysis is based on a panel model of 36 political parties in 18 Western European countries between 1970 and 2015. We find that right-wing parties move leftward in response to globalization, while left-wing parties do not alter their position. Additionally, we find that ideological party positions are affected by foreign parties’ positions of the same ideological bloc. These findings indicate that there is a convergence towards the left of the political spectrum due to right-wing party moderation.     

动态无效率产生的原因解析——对David Romer《高级宏观经济学》教科书观点的修正

美国经济学家David Romer通过一个特例说明有可能存在动态无效率的现象,而没有深究为什么会存在这种现象,这种做法在美国高级宏观经济学教科书中一脉相承。通过对拉姆齐模型和世代交叠模型的比较,本研究发现,动态无效率的现象源于世代交叠模型两期寿命的假定,导致实际利率的变化缺少了约束,会低于持平投资的增长率。本研究指出:动态无效率不是来源于资本动态学方程的特例,而是来源于模型的期限结构,内生于模型的结构。萨缪尔森世代交叠模型可以证明本研究的结论。     

会计管制与公司治理

本文从企业契约理论出发,在回顾会计管制国际经验的基础上,将会计管制引入对公司治理问题的思考,指出了会计管制目标的实现对解决公司治理问题的重要性。其不仅要求反思会计管制理论与实践,同时要求在具体分析公司治理模式的基础上,重新思考会计管制的目标及其实现问题。提出应从现行公司治理框架下改进会计管制措施,从而实现会计管制与公司治理的良性互动。     

公允价值计量模式研究

财务会计的核心问题之一是会计计量问题。从国际财务会计的发展动向看,由于对金融工具、特别是衍生工具的计量需要,公允价值计量模式备受关注。我国也高度关注公允价值理论和实务的发展,财政部颁布的新会计准则中,已将公允价值作为计量属性之一。但应用中出现的问题和阻力使公允价值计量成为财务会计的难题之一,本文对此进行了探讨。     

Revisiting Savage in a conditional world

Summary. I present an axiomatization of subjective expected utility and Bayesian updating in a conditional decision problem. This result improves our understanding of the Bayesian standard from two perspectives: 1) it uses a set of axioms which are weak and intuitive; 2) it provides a formal proof to results on the relation between dynamic consistency, expected utility and Bayesian updating which have never been explicitly proved in a fully subjective framework. Received: December 1, 2000; revised version: February 26, 2001     

A new index of financial conditions

We use factor augmented vector autoregressive models with time-varying coefficients and stochastic volatility to construct a financial conditions index that can accurately track expectations about growth in key US macroeconomic variables. Time-variation in the models׳ parameters allows for the weights attached to each financial variable in the index to evolve over time. Furthermore, we develop methods for dynamic model averaging or selection which allow the financial variables entering into the financial conditions index to change over time. We discuss why such extensions of the existing literature are important and show them to be so in an empirical application involving a wide range of financial variables.     

Foreign informational lobbying can enhance tourism: Evidence from the Caribbean

There exist legal channels for informational lobbying of US policymakers by foreign principals. Foreign governments and private sector principals frequently and intensively use this institutional channel to lobby on trade and tourism issues. This paper empirically studies whether such lobbying effectively achieves its goal of trade promotion in the context of Caribbean tourism, and suggests the potential for using foreign lobbying as a vehicle for development. Panel data are used to explore and quantify the association between foreign lobbying by Caribbean principals and US tourist arrivals to Caribbean destinations. A variety of sensitivity analyses support the finding of a strong association. The policy implications are obvious and potentially important for developing countries.     

Electrification and energy productivity

Energy productivity is crucial for sustainable development. We use cointegration analyses to investigate the effect of electricity on energy productivity in Swedish industry from 1930 to 1990. Electricity augmented energy productivity in those industrial branches that used electricity for multiple purposes. This productivity effect goes beyond “book-keeping effects,” i. e. it is not only the result of electricity being produced in one sector (taking the energy transformation losses) and consumed in another (receiving the benefits).     

A dynamic mechanism and surplus extraction under ambiguity

We study the question of auction design in an IPV setting characterized by ambiguity. We assume that the preferences of agents exhibit ambiguity aversion; in particular, they are represented by the epsilon-contamination model. We show that a simple variation of a discrete Dutch auction can extract almost all surplus. This contrasts with optimal auctions under IPV without ambiguity as well as with optimal static auctions with ambiguity—in all of these, types other than the lowest participating type obtain a positive surplus. An important point of departure is that the modified Dutch mechanism is dynamic rather than static, establishing that under ambiguity aversion—even when the setting is IPV in all other respects—a dynamic mechanism can have additional bite over its static counterparts. A further general insight is that the standard revelation principle does not automatically extend to environments not characterized by subjective expected utility.     

大庆油田突发事件应急指挥管理系统建设探索

本文探讨利用油田现有的各种资源,搭建应急指挥平台,从而最大限度地降低大庆油田公司各类突发事件的发生概率,减少发生突发事件时所造成的经济损失和社会影响,确保油田生产生活秩序的平稳。