长期雇佣:一个人力资本理论的解释

新古典经济学认为,在劳动力市场上企业按照工人的边际劳动产品支付工资,随着产品市场需求的变动频繁地增减对劳动力的雇佣数量。然而,现代经济理论,特别是人力资本理论的发展,表明现实劳动力市场的运行并不符合新古典理论的假定条件,以长期雇佣为主要特征的内部劳动力市场有其客观的经济效率基础。     

基于成本收益视角的我国显性存款保险制度有效性分析

银行体系的稳定是金融稳定的核心。我国一直实行的是隐性存款保险制度,由于其隔断了各银行资金运用收益和资金筹集成本之间的制衡关系,使政府实施这种制度的成本越来越高。本文从显性存款保险制度与隐性存款保险制度的比较分析入手,基于成本和收益的视角,指出引入显性存款保险制度的最大成本在于其引致了新的道德风险问题,而且我国的制度环境薄弱加大了建立成本。在此基础上本文对建立我国显性存款保险制度的有效性进行论述,并提出一系列配套改革措施。     

高速铁路与资源节约

高速铁路相对于其他运输方式,在五个方面充分发挥了节约资源的比较优势。在节约能源方面．高速铁路较公路和航空,单位运量能耗显著降低,同时发挥了“以电代油”的技术优势。在节约土地方面,高速铁路大量采用“以桥代路”,节地效果明显;与公路、民航相比,单位运输量土地占用很小。在节约材料方面,高速铁路动车组采用轻量化技术,制造材料用量大幅减少;同时高速运行加快了车辆周转,相应减少了车辆投入数量。在节约人力方面,高速铁路大量采用信息化、自动化等新技术,创新劳动组织,实现自助化服务,提高了劳动生产率,节约了宝贵的人力资源。在节约时间方面,高速铁路采用高速度、高密度、全天候运行方案,借助市内交通的有机衔接,大幅缩短了点到点旅行时间,改善了人们出行方式的选择。     

Asymmetries in bid and ask responses to innovations in the trading process

This paper proposes a new approach to jointly model the trading process and the revisions of market quotes. This method accommodates asymmetries in the dynamics of ask and bid quotes after trade-related shocks. The empirical specification is a vector error correction (VEC) model for ask and bid quotes, with the spread as the co-integrating vector, and with an endogenous trading process. This model extends the vector autoregressive (VAR) model introduced by Hasbrouck (Hasbrouck J (1991) Measuring the information content of stock trades. J Finance 46:179–207). We provide evidence against several symmetry assumptions, very familiar among microstructure models. We report asymmetric adjustments of ask and bid prices to trade-related shocks, and asymmetric impacts of buyer and seller-initiated trades. In general, buys are more informative than sells. The likelihood of symmetric quote responses increases with volatility. We show that our findings are robust across different model specifications, time frequencies, and trading periods. Moreover, we find similar asymmetries in markets with different microstructures.

公司多元化、过度投资与企业绩效的相关性分析——基于代理成本视角的经验证据

以生物制药业上市公司为例,从代理成本视角对企业多元化经营、过度投资与业绩进行相关性分析。实证结果显示,生物制药行业的多元化经营未导致严重的过度投资,但代理成本较高,且闲暇消费代理成本高于在职消费代理成本。     

AGRARIAN LAND TENANCY IN PREWAR JAPAN: CONTRACT CHOICE AND IMPLICATIONS ON PRODUCTIVITY

We study the tenancy contract choice and its impact on productivity in the prewar Japanese agriculture, where a unique contractual form, the rent-reduction contract, was predominant. Theoretically, this contract is more efficient than share tenancy or fixed-rent contract in terms of provision of incentives and risk-sharing, and thus raises the question of why such an efficient contract was uncommon outside Japan. We argue that transaction costs on the execution of rent reduction were the key element in the adoption of this contract. In prewar Japan, local communities played some role in governing the process of rent reduction and mitigated such costs. Thus the study proposes transaction costs and institutions as additional determinant of tenancy contract choice. We also find that higher prevalence of tenancy was associated with lower average rice yield at the prefectural level and such correlation was stronger in prefectures with a greater proportion of share tenancy.     

城市交通拥堵原因及对策

造成城市交通拥堵的根本原因是供给和需求的不平衡。根据唐斯定律,单纯增加道路的供给不可能真正解决这种供求之间的矛盾。因此,要彻底解决城市交通拥堵的问题,必须从降低和控制需求的角度出发。     

Effects of residential relocation on household and commuting expenditures in Shanghai, China

Over the past three decades, China's cities have undergone massive spatial restructuring in the wake of market reforms and economic growth. One consequence has been a rapid migration of urban residents to the periphery. Some movers have been forced out either by rising urban rents or government reclamation of their residences. Others have relocated willingly to modernized housing or for other lifestyle reasons. This article examines the effects of relocation to the urban edge on household well-being. It explores the factors underlying changes in housing and transportation costs as households move to the periphery. The research also examines whether those who moved involuntarily are affected differently from those who moved by choice. Results show that, relative to those who moved by choice, involuntary movers are disproportionately and adversely affected in terms of job accessibility, commute time, housing consumption and disposable income. The findings also show that, compared with higher-income households, lower-income groups are disproportionately affected in relation to housing costs, accessibility losses, disposable income and household worker composition. These results indicate that relocation compensation for involuntarily relocated households should be expanded to include more than just housing value: it should encompass urban location changes, household needs and relocation costs.     

港口群的发展趋势与发展战略研究

根据港口群的出现越来越成为推动区域发展的重要推动力的形势,从港口群概念出发,通过分析当前港口群发展的现状,研究了港口群未来的发展趋势和需要制定的发展战略。     

沿海内贸集装箱运输运量预测

运用不同的回归预测方法并借助Excel对我国沿海内贸集装箱运量进行短期预测,帮助航运企业及时调整发展战略目标,减少国际金融海啸带来的损失。