利率模型的发展及计量方法的应用

利率模型的发展和完善与计量经济学方法的发展密不可分。综述利率模型的发展和计量方法之应用对利率模型的推动作用,重点介绍单因子扩散利率模型及其极大似然估计、广义矩估计和非参数方法在利率模型中的应用。     

平面连杆机构的优化设计

利用单变参数（辅助角）按最佳传动角及最大行程速度变化系数对曲柄摇杆机构进行优化设计，提高了机构设计质量，方法实用可行。     

Do overseas investments create or replace trade? New insights from a macro-sectoral study on Japan

This paper investigates the relationship between outward foreign direct investment (FDI) and exports and imports from Japan, employing an augmented standard gravity model. Several econometric techniques, including the Gamma Pseudo Maximum Likelihood estimator, are used to rectify possible problems of heteroskedasticity and zero trade flows inherent in the estimation of gravity models of trade. The major finding is that outward FDI is trade enhancing for the Japanese manufacturing industry. However, we find that whether outward FDI creates or replaces trade depends on the industry under scrutiny. Our results indicate that the complementary relationship between FDI and trade is dominant in Japanese manufacturing, especially in the food and beverages, electric machinery, primary metals, and precision machinery sectors. We find also that Japanese overseas investments substitute for imports of chemical products, and for both exports and imports of general machinery.     

A New Regime Switching Model with State–Varying Endogeneity

In this paper, we propose a state-varying endogenous regime switching model (the SERS model), which includes the endogenous regime switching model by Chang et al., the CCP model, as a special case. To estimate the unknown parameters in the SERS model, we propose a maximum likelihood estimation method. Monte Carlo simulation results show that in the absence of state-varying endogeneity, the SERS model and the CCP model perform similarly, while in the presence of state-varying endogeneity, the SERS model performs much better than the CCP model. Finally, we use the SERS model to analyze Chinese stock market returns, and our empirical results show that there exists strongly state-varying endogeneity in volatility switching for the Shanghai Composite Index returns. Moreover, the SERS model can indeed produce a much more realistic assessment for the regime switching process than the one obtained by the CCP model.     

中国省区收入分布演进的空间-时间分析

本文除了使用Kernel密度估计和Markov等传统概率分布方法外,还在分析框架中引入空间因素,运用区域控制的Kernel密度估计和空间Markov分析方法,从时间动态性和空间动态性两个视角对1985～2004年中国省区收入分布演进进行了空间-时间分析.分析结果表明:中国省区收入差距趋于固化与深化,贫困陷阱问题越来越突出;区域收入分布演进呈现出多俱乐部收敛的趋势,低收入俱乐部的规模远远大于其他较富裕的收敛俱乐部;近邻效应显著影响区域收入分布演进,邻近富裕地区,收入状态上升的概率相对较大;多数地区在向相邻地区的平均收入水平演进,从而构成空间上邻近的收敛俱乐部.     

The effects of quantification on persuasion in unfamiliar contexts: The case of information systems controls

The purpose of this study is to more fully understand when quantitative analyses are more persuasive than qualitative analyses. Forty-seven executives responded to an experiment where they evaluated a business proposal recommending an increase in the information systems controls budget, where potential benefits were presented via either a quantitative or qualitative analysis. When the executives were familiar with the context, the quantitative analyses were more persuasive. However, when the executives were less familiar with the context, qualitative analyses that were framed negatively were more persuasive than quantitative analyses. These findings are important theoretically and pragmatically. From a theoretical standpoint, I demonstrate that familiarity with the context predicates how quantification affects decision-makers. In addition, I offer evidence that qualitative analyses that emphasize what has been, or could be, avoided may be a viable persuasive tactic when the decision-maker is unfamiliar with the context.     

基于MaxEnt模型评估赤霞珠在川西横断山河谷的适生空间分布

［目的］川西横断山河谷是我国乃至世界高山酿酒葡萄的新兴产区,赤霞珠是该区域主栽品种之一。复杂的地理条件使得该区域与其他酿酒葡萄主产区的自然环境差异显著。科学评估川西横断山河谷区赤霞珠适宜空间分布,可促进该区域酿酒葡萄可持续发展。［方法］文章综合运用MaxEnt模型和GIS技术,构建了赤霞珠适宜分布与环境变量的关系模型,筛选出主导环境变量,利用存在概率划分适宜等级,预测了赤霞珠在川西横断山河谷的适宜分布。［结果］赤霞珠适宜分布与环境变量的关系模型准确度非常好（AUC>090）。在川西横断山河谷,主导环境变量依次为最热月平均气温、海拔、pH、秋季降雨量、年日照时数、年温差、全氮。川西横断山河谷大部分地区为不适宜区,低适宜区约为2 2752km2,中适宜区约1 29608km2。高适宜区面积为1 16428km2,且集中分布在丹巴县、小金县、金川县、九寨沟县和巴塘县。［结论］MaxEnt模型通过存在概率进行作物分布模拟和预测,对作物适宜区划具有较强应用价值和指导意义。对于不同区域和作物应注意环境变量,空间尺度,物种采样位置等问题,提高作物适宜区划精度。最后应加快该区域生产空间调整,在丹巴县、九寨沟县、金川县、小金县、巴塘县赤霞珠还有很大潜力空间,在黑水县、马尔康市、松潘县、白玉县、德荣县、康定县需适度发展,在汶川县、理县、茂县、稻城县、乡城县,应加强生产管理,减少不利环境影响。仁和区不宜再进行规模扩张。     

Maximum entropy autoregressive conditional heteroskedasticity model

In many applications, it has been found that the autoregressive conditional heteroskedasticity (ARCH) model under the conditional normal or Student’s t distributions are not general enough to account for the excess kurtosis in the data. Moreover, asymmetry in the financial data is rarely modeled in a systematic way. In this paper, we suggest a general density function based on the maximum entropy (ME) approach that takes account of asymmetry, excess kurtosis and also of high peakedness. The ME principle is based on the efficient use of available information, and as is well known, many of the standard family of distributions can be derived from the ME approach. We demonstrate how we can extract information functional from the data in the form of moment functions. We also propose a test procedure for selecting appropriate moment functions. Our procedure is illustrated with an application to the NYSE stock returns. The empirical results reveal that the ME approach with a fewer moment functions leads to a model that captures the stylized facts quite effectively.     

盈余管理:动因及后果——兼与利润操纵的比较

盈余管理的动因有终极动因和中介动因,其根本目的是实现自身效用或公司市场价值最大化,其经济后果有弊也有利.而利润操纵完全是为了谋取私利,且不惜牺牲其他相关人的利益,故它是百害而无一利的.为促进资本市场的理性发展,应当完善相关的法律法规以对二者进行规避.