基于CD—ESDA模型的新疆产业用水增长质量的时空格局分析

本文将水资源约束与经济增长、技术进步和结构变动因素相耦合,用以评价新疆产业用水增长质量。通过构建产业用水的边际效应分解模型,计算了新疆2005—2010年产业用水的规模、技术及结构的边际效应,并进行了时空分异分析。在此基础上构建了新疆产业用水增长质量指数,运用ESDA方法,探讨新疆产业用水增长质量的空间关联模式,得出研究期内产业用水增长质量呈现正的空间自相关,并且空间集聚方式以H—H、L—L为主要特征,区域空间差异明显。因此,新疆应该继续调整产业结构,加强用水技术的引进与创新,促进水资源在产业内部及产业间循环利用;经济发达且用水质量较高的地州应该发挥经济增长极的作用,改善经济落后地州的产业用水增长质量。     

两种增长核算方法的比较——兼论中国地区差距的决定性因素

运用增长核算来分析我国地区经济差距的决定性因素时,存在资本产出比和资本劳动比两种分解方法,不同的分解方法会得出不同的结果。研究表明,资本产出比分解方法相对于资本劳动比具有两个方面的优势:(1)核算的无偏性;(2)更具直观性的经济含义和政策启示。而且,它不仅适用于劳动增进型技术进步,同样还适用于希克斯中性技术进步和资本增进型技术进步。实证分析表明,全要素生产率对中国地区差距起着决定性作用。     

Decomposing productivity growth and divergence: an index number approach

We propose a cross-country productivity growth decomposition that allows us to quantify the industry-level contributors to an aggregate productivity growth differential. We deploy this cross-country decomposition to quantify—for the first time—the disaggregate contributors to the divergence in market sector productivity growth between Australia and New Zealand. The results suggest that large contributions to the divergence arise from differences in labour growth across the two countries and that cross-country structural differences are large, and generally act to reduce the divergence. Most of the industries are found to add to the divergence, with particularly large contributions coming from differences across the mining and wholesale trade industries. The views expressed in the paper are entirely my own, and do not necessarily reflect those of the Reserve Bank of New Zealand. I would like to thank Les Oxley and Kevin Fox for useful comments on earlier drafts. All errors and omissions are my own.     

The composition of wage differentials between migrants and natives

We consider the role of unobservables, such as differences in search frictions, reservation wages, and productivities for the explanation of wage differentials between migrants and natives. We disentangle these by estimating an empirical general equilibrium search model with on-the-job search due to Bontemps et al. (1999) on segments of the labour market defined by occupation, age, and nationality using a large scale German administrative dataset.The native-migrant wage differential is then decomposed into several parts, and we focus especially on the component that we label “migrant effect”, being the difference in wage offers between natives and migrants in the same occupation-age segment in firms of the same productivity. Counterfactual decompositions of wage differentials allow us to identify and quantify their drivers, thus explaining within a common framework what is often labelled the unexplained wage gap.     

Valuation of American options under the CGMY model

In the present work, we concentrate on the analytical study of American options under the CGMY process. The decomposition formula of the American option and the integral equation for the optimal-exercise boundary are established in explicit forms. Moreover, an analytical approximation formula is obtained for the American value. This approximation is valid when time to maturity is either very short or very long. Numerical simulations are provided for European options, optimal-exercise prices and approximate values for American options.