要素价格扭曲、行业异质性与R&D投入关系研究——来自中国制造业28个细分行业的证据

从中观视角研究要素价格扭曲对制造业R&D投入的影响及行业差异,厘清行业异质性背景下要素价格扭曲影响R&D投入的理论机制,运用制造业细分行业数据,结合非线性面板门槛模型进行深入分析。结果显示：要素价格扭曲对制造业R&D资本投入和R&D人力投入均均具有显著抑制效应,行业异质性因素在二者间发挥重要调节作用。进一步,运用面板门槛模型对行业异质性因素的作用进行探究。结果表明,行业特征因素如市场竞争、资本密集度、企业平均规模以及对外开放度在不同门槛值区间,要素价格扭曲对R&D投入的影响效应均存在显著差异。研究结论为全面深化市场化改革、提高要素资源配置效率、促进制造业自主创新转型升级,进而推动创新型国家建设具有一定启示意义。     

差异化产品价格战的产生与扩散机制分析

本文基于消费者的"0-1"购买特征和产品的纵向差异化特征,建立了一个新的价格战模型。通过应用数学证明和数值模拟的方法发现:(1)合谋体系、背叛体系以及价格战体系的均衡结果均与需求冲击无关;(2)差异化产品厂商的背叛动机以及产品链条的合谋稳定性也与需求冲击无关;(3)产品的差异化程度是影响合谋稳定性的重要因素,差异化程度越大,合谋越稳定;(4)合谋集团对背叛厂商的惩罚策略存在着"误伤效应",这种效应在一定条件下能够自我抑制,表现为产品链条上的价格战和合谋共存,在其他条件下,这种效应不能自我抑制,价格战一旦发动就会迅速扩散到整个产品链条。     

相对要素价格均等化:理论模型与实证检验

本文从CES总成本函数的角度,纳入技术水平、要素质量和要素价格等差异化因素,推导了相对要素价格均等化的实证检验模型。中国省际间面板数据(1998-2008)的实证检验结果表明中国省际间存在相对要素价格多锥形均衡,劳动力要素相对价格显著不等,进而从要素供给弹性、国际市场需求变化和产出调整机制等角度做了阐释。     

Regulatory effects on the market penetration and capacity of reliability differentiated service

This paper investigates the effects of alternative forms of regulation on the market penetration and capacity that are determined by a profit-maximizing monopolist providing reliability differentiated service to consumers. Both price cap and rate of return regulation lead to larger capacity and market penetration than in the absence of regulation. These forms of regulation also lead to larger consumer surplus than in the absence of regulation. A minimum reliability standard reduces market penetration, and this reduction may lead to a decrease in consumer surplus.      

The Determinants of Sticky Prices and Sticky Plans: Evidence from German Business Survey Data

So far, there is no consensus on the price adjustment determinants in the empirical literature. Analyzing a novel firm‐level business survey data set, we provide new insights on the price setting behavior of German retailers during a low inflation period. Relating the probability of both price and pricing plan adjustment to time‐ and state‐dependent variables, we find that state‐dependence is important; the macroeconomic environment as well as the firm‐specific condition significantly determines the timing of both actual price changes and pricing plan adjustments. Moreover, input cost changes are important determinants of price setting. Finally, price increases respond more strongly to cost shocks compared to price decreases.     

Choice, price competition and complexity in markets for health insurance

The United States and other nations rely on consumer choice and price competition between competing health plans to allocate resources in the health sector. While a great deal of research has examined the efficiency consequences of adverse selection in health insurance markets, less attention has been devoted to other aspects of consumer choice. The nation of Switzerland offers a unique opportunity to study price competition in health insurance markets. Switzerland regulates health insurance markets with the aim of minimizing adverse selection and encouraging strong price competition. We examine consumer responses to price differences in local markets and the degree of price variation in local markets. Using both survey data and observations on local markets we obtain evidence suggesting that as the number of choices offered to individuals grows, their willingness to switch plans given a set of price dispersion differences declines, which allows large price differences for relatively homogeneous products to persist. We consider explanations for this phenomenon from economics and psychology.     

Wage and price differences,technology gap and labor flow dynamics

The relationship between wage difference and relative employment is a very important issue in the field of economic structural change. An M-sector economic growth model is constructed in this paper to investigate the relationship between wage difference, price difference, technology gap, relative employment and sectoral dynamic change from the perspective of technologies. Labor flow is regarded as a decision-making behavior to maximize the benefits of economic agents. The benefits of labor flow mainly come from sectoral wage difference, and the costs of labor flow mainly come from the social resource expenditure during labor flow process. Our model illustrates that: (i) the relative employment is positively correlated with the real wage difference and technology gap; (ii) the sectoral dynamic changes coexist with the aggregate economic growth; (iii) increases in technology gap, and price and wage differences will stimulate labor migration, exacerbate the unbalanced growth of sectoral economies, and lead to faster and more effective aggregate economic growth.     

房地产税收制度的国际经验及启示

征收房地产税收的目的就是遏制房价的上涨以及增加财政收入.然而,由于当前我国房地产征税效率低,对房价上涨没起到抑制作用.通过对新加坡,韩国和中国香港房地产税收状况的分析,借鉴他们有效征税和成功遏制较高的房价措施,并结合我国房地产税收实际状况,提出来一系列房地产税征收政策及改进措施来不断完善我国房地产税制.希望这些措施 能...     

具有网络效应的产品的价格竞争分析

具有网络效应的产品是指消费者在消费这种产品时所获得的效用会随着购买这种产品的其他消费者数量的增加而不断增加的产品。本文通过建立一个有两个厂商的离散动态决策模型,研究在分散决策的市场经济中生产具有网络效应的产品的厂商的价格决策对产品市场占有率的影响,价格决策影响产品市场占有率的动态演化的过程,以及市场均衡的务件和特征,包括产品不占有市场、占有部分市场以及上有今都市场的价格条件。     

Disclosure quality,price efficiency,and expected returns

Using a composite disclosure quality measure, we examine the effect of disclosure quality on price delay and the effect of price delay determined by disclosure quality on expected returns in the Taiwan stock market. We find that higher disclosure quality can reduce stock price delay through more investor attention and higher stock liquidity after we control for accounting quality variables and consider the endogeneity issue. Furthermore, we show that disclosure quality reduces expected stock returns through the price efficiency channel associated with both investor attention and stock liquidity. Our results indicate that increasing a firm’s standardized information rating by one standard deviation can reduce its expected stock return by 0.63% annually. Taken together, our evidence suggests that regulatory activities enforced to improve public firms’ disclosure quality in the Taiwan stock market can make the stock market more efficient and therefore lower investors’ required return for stocks.