A new generalized volatility proxy via the stochastic volatility model

This article proposes power transformation of absolute returns as a new proxy of latent volatility in the stochastic model. We generalize absolute returns as a proxy for volatility in that we place no restriction on the power of absolute returns. An empirical investigation on the bias, mean square error and relative bias is carried out for the proposed proxy. Simulation results show that the new estimator exhibiting negligible bias appears to be more efficient than the unbiased estimator with high variance.     

Note

Functional classes of Lorenz curves are derived from a generalization of a relative poverty notion. All these Lorenz curves compare individual income to the average of all larger or all smaller incomes. The parameters of the Lorenz curves are effectively computed from empirical income data by least square regressions. Best fits are analyzed and resulting functional Gini indices are compared to empirical Gini indices.First version received: September 2002/Final version received: April 2003     

Maximal asymptotic power and efficiency of two-sample tests based on generalized U-Statistics

In this article a systematic study is given of the asymptotic behavior of two-sample tests based on U-Statistics with arbitrary antisymmetric kernels . Besides the investigation under the hypothesis and under fixed alternatives we determine the local power as a function of as well as its maximizing value _opt. Moreover formulas for the asymptotic relative efficiency ARE(₂,₁) of the ₂-test with respect to the ₁-test are derived. It turns out that _opt also yields the most efficient test in the sense that ARE(_opt,)1 for all (admissible) kernels .     

Rank tests for testing randomness of a regression coefficient in a linear regression model

We propose a class of nonparametric tests for testing non-stochasticity of the regression parameterβ in the regression modely _i =βx _i +ɛ _i ,i=1, ...,n. We prove that the test statistics are asymptotically normally distributed both underH ₀ and under contiguous alternatives. The asymptotic relative efficiencies (in the Pitman sense) with respect to the best parametric test have also been computed and they are quite high. Some simulation studies are carried out to illustrate the results. Research was supported by the University Grants Commission, India.     

软测量在腈纶聚合质量指标控制中的应用

用混合模型技术，建立聚合反应过程质量指标的软测量模型，对现场检测数据进行深层加工处理和应用软测量技术开发工程应用软件，对工艺质量指标实时检测和显示，充分利用DCS系统和上位机软件的功能优势，解决工业实际问题。实验证明所开发的软测量模型精度满足了工程要求，与人工分析值比较，相对误差≤2．5％，完全能够满足工艺生产控制要求的。     

促进西部资源开发的财税政策

实施西部大开发战略，促进西部经济发展，发挥西部地区比较经济优势是关键。而比较优势的发挥，有赖于政府通过各种财税政策进行扶持。改善基础设施，营造良好的投资环境；加快增值税转型；赋予西部地区适度的税收立法权，这些政策对西部经济发展将发挥重要作用。     

振兴东北经济的税收政策思考

自2004年振兴东北的序幕拉开至今,国家对东北地区出台了一系列税收优惠政策,通过对税收政策的归类、分析表明,诸项税收优惠政策中照顾性多、激励性、导向性的极少,鉴于此根据比较优势理论重新审视东北地区的优势产业,以此理顺税收激励政策.     

基于IPO长期收益趋势分行业的实证研究

我国股市首次公开发行(Initial Public Offering,简称IPO)股票的长期收益率问题一直是IPO领域研究的热点问题之一。发达国家证券市场存在IPO长期弱势已经得到实证的检验,而我国证券市场成立较晚,尚不成熟,信息披露不健全,同时也具有与发达国家证券市场不同的特征。通过对不同行业的IPO长期持有收益率走势的实证研究,以期为投资者的正确决策、提高股市效率提供理论依据。     

论农村集体成员身份和土地产权相对分离 ——以成员土地资格权的收回或转让及继承为视角

研究目的：从土地产权收回、转让和继承,探究集体成员身份与产权相对分离理论及制定面向未来的农村集体经济组织法。研究方法：规范分析法,实地调查法。研究结果：社会保障在城乡一体,集体成员身份保障功能在弱化,让农民工带财产进城需产权和身份分离,新型利益冲突需立法调控。研究结论：新型身份和产权关系应以农为本,逐步分离产权和身份绝对的绑定关系;土地经营权人可成为新社员和有偿使用宅基地;因入公职而离社,个人的由家庭共享,全家离社的承包地收回,宅基地保留与否视住房保障;宅基地资格权可为市民继承和转让,避免为占地新建闲置房;有农技的可优先继承股份和承包地;全家出国的,收回其土地产权;退休或恢复国籍回乡,可有偿使用宅基地。