The effect of oil price on China's exports

The increase in oil prices in recent years has occurred concurrently with a rapid expansion of Chinese exports in the world markets, despite China being an oil importing country. In this paper we develop a theoretical model that explains the positive correlation between Chinese exports and the oil price. The model shows that Chinese growth can lead to an increase in oil prices that has a stronger impact on its export competitors. This is due to the large labor force surplus of China. We then examine this hypothesis by estimating a reduced form equation for Chinese exports using Rodrik [Rodrik, Dani, 2006. What's so special about China's exports? China and World Economy 14, 1–19.]'s measure of export competitiveness, together with the oil price, productivity, real exchange rate, and foreign industrial production over the monthly 1992–2005 period. The results suggest a stable relationship and yields slightly positive values for the price of oil and elastic coefficients for export competitiveness, along with the expected negative elasticity for the real exchange rate.     

货币超发还是输入通胀？——基于MS—VAR模型的视角

通货膨胀及其影响因素之间固有的内生性使得采用单方程分析不可避免会产生偏差。本文运用MS—VAR模型并利用2001年1月～2011年12月月度数据对我国通胀及其影响因素进行了实证分析。结果表明：（1）高通胀水平下货币供应量、石油价格波动以及国内需求和通胀预期对价格水平均会产生正向冲击,而人民币汇率波动对于价格水平的累计冲击响应效应为负;（2）相对而言,货币供应量变动对于通胀水平影响最大。（3）货币供应量上升太快是我国2007年下半年来物价居高不下的主要原因,与汇率变动以及国际石油价格波动等外部冲击因素关系不大。     

Are U.S. airlines really in crisis?

This study reflects on the technical efficiency of U.S. airlines using a Bayesian random stochastic frontier model. Inferences from the Bayesian estimation indicate that the random model fits the data well and outperforms the traditional stochastic frontier model. The technical efficiency results indicate that U.S. airlines are operating at a declining efficiency rate with an average of 69.02% in 2007. Results from returns to scale are also in line with the efficiency results. More specific discussions on the current industry trends and other contributions of this study are presented and discussed.     

俄罗斯、哈萨克斯坦进口原油蜡含量测定标准的研究

本文通过研究俄罗斯、哈萨克斯坦等进口原油蜡含量测定标准,比对ГОСТ标准与GB、ISO、ASTM等标准间的差异,从而提出加快制定GB/T《原油蜡含量测定法》等国家标准的建议。     

How does investor attention matter for crude oil prices and returns? Evidence from time-frequency quantile causality analysis

This paper studies the time–frequency, nonlinear quantile relationship between investor attention (GSVI) and crude oil over the period from January 2000 to April 2020. To do so, the wavelet coherency, wavelet-based causality-in-quantiles test and quantile-on-quantile method are employed. The results indicate that first, the correlation between investor attention and crude oil is relatively high, and the highly correlated regions are concentrated from 8 to 16 months. In most cases, the GSVI is negatively correlated with the crude oil market. Additionally, under extreme market conditions, the explanatory ability is stronger than in the normal market, and it is greater in the low-frequency domain than in the high-frequency domain. Finally, investor attention has an apparent asymmetric impact on crude oil prices and returns at each scale, displaying a positive effect on the low quantiles of crude oil but a negative effect on the high quantiles across all quantiles of the GSVI. In the short term, when crude oil prices and returns are in a bear market, the larger volume of the GSVI has a greater impact on them. Moreover, the impact becomes greatest under extreme market conditions.     

Routines and the sustainable lock-out of Moroccan oil refineries

For many years, researchers have tried to shed light into the black box of economic agents to investigate the mechanisms that guide their actions. Evolutionary economists have used the concept of ‘routines’ to explain why some firms are more innovative than others. The case study on French and Moroccan oil refineries presented in this paper suggests that this concept can also be used to explore differences in the way these firms manage health, safety, and environmental (HSE) issues. An improved understanding of firms' HSE behaviour allows policy-makers to design policies that can foster the emergence of strong HSE routines and substantially improve firms' HSE performance. Results show that, in spite of low HSE regulatory pressures in Morocco, Samir oil refineries operating in the Kingdom have developed an HSE management routine. A tabled presentation of the HSE management routine of Samir and of the French group Total allows us to compare the HSE behaviour of these firms, and to suggest how new routines could trigger a lock-out from the low HSE performance of Samir.     

采油队标准化工作的特点及对策

针对基层采油队标准化知识普及教育面窄,标准的应用率不高和考核力度不够等问题所体现出的工程质量薄弱、生产管理基础不扎实、工作效率低的特点,提出了领导重视、积极参与是搞好标准化工作的关键;健全机构、运用标准是搞好标准化工作的基础;要把提高班站长的认识做为着眼点;把每个人的工作质量做为落脚点;把奖罚分明重在考核做为着力点,使标准化更好地发挥出经济效益.     

油气井用射孔器评价方案的建立

通过对SY／T5128《油气井用射孔器通用技术条件》的应用分析，结合射孔器产品的技术发展，并对按API RP19B要求制作的混凝土靶试验对比验证，对该标准指标进行修订，增加射孔器评价品种，引进了对大孔径、高孔密射孔器的评价方案．规范了产品命名和术语，并应用计量抽样和计数抽样两种评价方案对射孔器评价，以求正确评价射孔器性能。     

Are Oil Price News Headlines Statistically and Economically Significant for Investors?

While much has been written about the effects of oil price on stock returns, surprisingly nothing is known about the effect of oil price news on stock returns. This article is a response to this research gap. For a large number of stocks on the New York Stock Exchange, the authors find that while oil price news does predict market returns it only predicts returns of some sectors and not all. They find that sorting stocks based on oil price news generates a significant return differential in the cross-section, which holds consistently across a range of models allowing for the well-known risk factors. Their findings suggest that information contained in oil price news affects stock returns.