Taxation of Mobile Factors as Insurance under Uncertainty

This paper considers the effects of the taxation of mobile factors, i.e., capital, under uncertainty. The wages earned by residents of a jurisdiction are uncertain due to random shocks. Since the uncertain wages in a jurisdiction depend on the amount of mobile capital employed in the jurisdiction, and since taxation alters the quantity of capital employed, taxation affects the riskiness of uncertain wages. In particular, the taxation of capital moderates the fluctuation of uncertain wages, thereby providing insurance. For this reason, jurisdictions use distortionary capital taxation even if lump‐sum taxation is available. In addition, this insurance effect counteracts the tendency toward too low tax rates on capital arising from tax competition, and possibly improves the efficiency of tax competition.     

基于哈肯模型的高技术产业化过程机制研究

运用自组织理论和方法,在哈肯模型的基础上建立了高技术产业化过程的演化方程,并以北京、天津、上海、河北等29个省市为样本进行了定量化的实证研究。结果表明,研究开发投入强度是高技术产业化过程中的序参量,从而得出要依靠研究开发投入与高科技成果转化的协同作用促进高技术产业快速发展这一结论。     

Impacts of an EC carbon/energy tax and deregulating thermal power supply on CO2, SO2 and NOx emissions

Emission of CO₂, SO₂ and NO_x are all closely linked to the burning of fossil fuels. Here we report on simulations done by linking a Sectoral European Energy Model (SEEM), covering energy demand in nine Western European countries, with the emission-transport-deposition model RAINS developed by IIASA. The study analyses emissions of CO₂, SO₂ and NO_x, deposition of sulphur and nitrogen and the extent of areas where the critical load for sulphur is exceeded in year 2000 under four different energy scenarios. Two different sets of future behavioural patterns for the thermal electric power production sector are considered. In one regime, called the plan-efficient regime, the sector is assumed to follow official plans with regard to investment in new capacity. In the other regime, called the cost-efficient regime, the thermal power sector is assumed to behave in a cost minimizing manner. The effects of the proposed EC carbon/energy tax are studied under both regimes, giving rise to altogether four scenarios.In both regimes the effect of the EC tax is to reduce emissions by between 6 and 10 per cent in year 2000 relative to the scenarios without the tax. A change of regime, from the regulated, plan-efficient regime to the market-based, cost-efficient regime, will, by itself, reduce emissions of CO₂ and NO_x by approximately 3 per cent, while SO₂ emissions are reduced by 13 per cent. The EC tax will reduce sulphur deposition by more than 5 per cent in the nine model countries under the plan-efficient regime. A change of regime further reduces the total deposition by 9 per cent. The area where depositions exceed the critical load is reduced by approximately 6 per cent in year 2000 by the tax in both regimes. Changing from the plan-efficient to the cost-efficient regime has a similar impact.Although the emission reductions due to the EC tax may seem modest, they are shown to have a sizeable effect on the technological abatement costs of reaching targets like those prescribed in the Sofia protocol on the stabilisation of NO_x emissions, and the Helsinki protocol on SO₂ emission reductions. This is part of what can be considered to be secondary benefits of the EC carbon/energy tax.     

高尔夫球场扩增的环境生态效应

近年来．国内修建高尔夫球场有愈演愈烈之势．这与我国的国情不符。本文从高尔夫球场的群落生态学特征出发．对高尔夫球场在土地资源、水资源、环境污染、生物多样性破坏、城镇生态系统稳定性及生态承载力等六个方面的影响进行论述，分析了高尔夫球场扩增的环境生态效应．在此基础上提出了相应的减负对策。     

Nonlinear IV unit root tests in panels with cross-sectional dependency

We propose a unit root test for panels with cross-sectional dependency. We allow general dependency structure among the innovations that generate data for each of the cross-sectional units. Each unit may have different sample size, and therefore unbalanced panels are also permitted in our framework. Yet, the test is asymptotically normal, and does not require any tabulation of the critical values. Our test is based on nonlinear IV estimation of the usual augmented Dickey–Fuller type regression for each cross-sectional unit, using as instruments nonlinear transformations of the lagged levels. The actual test statistic is simply defined as a standardized sum of individual IV t-ratios. We show in the paper that such a standardized sum of individual IV t-ratios has limit normal distribution as long as the panels have large individual time series observations and are asymptotically balanced in a very weak sense. We may have the number of cross-sectional units arbitrarily small or large. In particular, the usual sequential asymptotics, upon which most of the available asymptotic theories for panel unit root models heavily rely, are not required. Finite sample performance of our test is examined via a set of simulations, and compared with those of other commonly used panel unit root tests. Our test generally performs better than the existing tests in terms of both finite sample sizes and powers. We apply our nonlinear IV method to test for the purchasing power parity hypothesis in panels.     

我国会计准则与国际会计准则的趋同分析

上市公司执行新准则标志着我国会计准则的国际趋同。我国会计准则和国际会计准则是否存在着差异及差异存在原因是什么,本文对此进行了探讨。对投资业务、固定资产业务和无形资产、存货业务的具体准则进行对比,分析其中差异,并结合我国会计环境对差异存在的原因进行了分析,同时提出对策建议。     

上海世博会的乘数效应

本文主要运用投资乘数模型,对世博会为上海GDP的贡献进行了分析和预测,并对理论乘数效应在举办世博会中的制约因素进行了讨论,为上海市政府的宏观调控提出建议。     

Volatility in the knowledge economy

Summary. We seek to explain the economic volatility of the last 6 years, in particular the rapid expansion and contraction of the knowledge sectors. Our hypothesis is that these sectors amplify the business cycle due to their increasing returns to scale, growing faster than others in an upswing and contracting faster in a downswing. To test this hypothesis we postulate a general equilibrium model with two sectors: one with increasing returns that are external to the firm and endogenously determined - the knowledge sector - and the other with constant returns to scale. We introduce a new measure of volatility of output, a real beta, and derive a resolving equation, from which we prove that the increasing return sectors exhibit more volatility then other sectors. We validate the main results on US macro economic data of real GDP by industry (2-3 digits SIC codes) of the 1977-2001 period, and provide policy conclusions.Received: 18 March 2002, Revised: 16 February 2004, JEL Classification Numbers: D5, D58, E10, L50, L52, O38, O51.Correspondence to: Graciela Chichilnisky     

产业政策目标指向型城市人口规模研究

在分析影响城市人口发展因素的基础上,以义乌市为例,从劳动生产率、产业结构变化、高贡献率行业三方面论证了政策变动因素与城市人口发展的关系,提出产业政策目标指向型城市人口规模计算的研究框架和计算步骤。     

Assessing the impact of patent infringement on new product sales

In order to assess the impact of patent infringement on the growth of a new product, a model is developed through the intervention model development processes of Box-Jenkins and Box-Tiao. Physical interpretations of model parameters and determination of associated damages suggest that the model can provide a sound basis for analyzing patent infringement disputes.