共同代理框架下工程保险技术服务的机制设计

本文从试图克服工程保险发展的技术障碍入手,提出由业主和保险人共同委托监理机构提供工程保险技术服务的共同代理模型,并从任务之间的关联性、任务的难易程度对模型结果进行了研究,得出保险人必须要与业主共谋是最优策略的结论,会导致最有效率的产出。     

Bailout uncertainty in a microfounded general equilibrium model of the financial system

This paper develops a micro-founded general equilibrium model of the financial system composed of ultimate borrowers, ultimate lenders and financial intermediaries. The model is used to investigate the impact of uncertainty about the likelihood of governmental bailouts on leverage, interest rates, the volume of defaults and the real economy. The distinction between risk and uncertainty is implemented by applying the multiple priors framework to beliefs about the probability of bailout.Results of the analysis include: (i) An unanticipated increase in bailout uncertainty raises interest rates, the volume of defaults in both the real and financial sectors and may lead to a total drying up of credit markets. (ii) Lower exante bailout uncertainty is conducive to higher leverage, which in turn raises moral hazard and makes the economy more vulnerable to expost increases in bailout uncertainty. (iii) Bailout uncertainty affects the likelihood of bubbles, the amplitude of booms and busts as well as the banking and the credit spreads. (iv) Higher bailout uncertainty is associated with higher returns’ variability in diversified portfolios and higher systemic risks, (v) Pre-crisis expansionary monetary policy reinforces those effects by inducing higher aggregate leverage levels. (vi) The larger the change in bailout uncertainty and the change in aversion to this uncertainty, the stronger the pre-crisis buildup and the deeper the ensuing crisis.A central policy implication of the analysis is that the vaguest is bailout policy prior to a crisis, the lower is the magnitude of investments destroyed or missed due to errors in evaluating bailout and other intervention policies. On the other hand, the clearer is bailout policy upon the eruption of a crisis, the smaller the contraction of credit and the destruction of investment activity.     

试论《实践论》对高校研究生学习实践活动的现实指导意义

《实践论》是毛泽东同志关于马克思主义实践观基本原理的经典著作,对人类认识与实践活动关系的问题有全面、完善的阐述。高校研究生学习活动也是一种学习的实践,《实践论》中的基本观点可用以指导这一学习实践活动。本文从马克思主义的基本认识论原理入手,阐述了这种学习指导的必要性、现实性,进而分析文章观点,提出文章中具体观点对高校研究生学习实践的现实指导意义。     

质量规制有效性和消费者信任的市场均衡效应

产品质量规制有效性和消费者信任对市场均衡具有重要影响,引入预期产品质量水平和能够检测出假冒高质量产品概率两个变量,分别表示消费者对产品质量信任状况和产品质量规制有效性,研究产品质量规制有效性和消费者对产品质量信任对产品均衡价格和数量的影响.结果表明无论是国内市场还是出口市场,消费者对产品质量信任状况对高质量产品市场均衡价格和均衡数量都有正向影响;而质量规制有效性对高质量产品市场均衡价格有正向影响,对均衡数量有负向影响.     

Women’s empowerment boosts the gains in dietary diversity from agricultural technology adoption in rural Kenya

Using new survey data from rural Kenya, this paper assesses the moderating effect of women’s empowerment on the relationship between agricultural technology adoption and women’s dietary diversity. We use a multiple treatment endogenous switching regression framework to control for potential endogeneity of women’s empowerment and technology adoption. We find that women’s empowerment has a positive and significant effect on the women’s dietary diversity score regardless of technology adoption status. We further show that women’s empowerment enhances the positive effects of technology adoption on women’s dietary diversity. Although technology adoption has a positive impact on women’s dietary diversity regardless of empowerment status, its effect is stronger for households with empowered vs. disempowered women. Study results suggest that individual and household welfare could be enhanced to a greater degree through interventions that promote women’s empowerment and technology adoption simultaneously rather than separately.     

对大学生到村任职的思考

大学生当村官是加强农村基层组织建设,培养有知识有文化的新农村建设带头人的需要,是培养具有坚定理想信念和奉献精神,对人民群众有深厚感情的后备干部的需要,是转变就业观念和实现自身价值的需要,是建设社会主义新农村、全面实现小康社会奋斗目标的必然选择。因此,大学生到农村当村官意义重大。     

试论董事对第三人责任

近年来,世界各国都出现了董事在执行公司业务中侵害第三人利益的事件。对此,各国公司法也相应地建立了董事对第三人的责任制度。我国公司法虽经多次修改,但仍未建立这种责任制度,不能不说是制度上的一大缺憾。文章旨在通过对两大法系国家关于董事对第三人责任制度的对比讨论,为今后我国的董事责任制度建设提出几点意见。     

女性文学阶段的全面展现——评《我的光辉生涯》

本文依据美国女性主义批评家伊莱恩.肖沃尔特的理论,分析了澳大利亚早期小说《我的光辉生涯》的特点—跨越了女性文学的三个阶段。小说中的丛林少女西比拉为追求男女平等、独立人格与自我实现进行的不懈努力和奋斗给当今的妇女树立了一个光辉的典范。     

The savings multiplier

A theory of macroeconomic development based on the novel concept of savings multiplier is developed. Capital accumulation changes relative prices, amplifying incentives to save as the economy grows. The savings multiplier hinges on two mechanisms. First, accumulation raises wages and leads to redistribution from the consuming old to the saving young. Second, higher wages raise the price of old-age care and, in anticipation of this, the young save more. Our theory captures important aspects of China׳s development and suggests new channels through which the one child policy and the dismantling of social benefits have fueled China׳s savings rates.     

Firms’ performance under different bankruptcy systems: a Europe–USA empirical analysis

This study empirically analyses the effect that the bankruptcy law has on firms’ performance based on its financial situation. To do this, we considered the different types of efficiency and their influence on firms’ value. The study was carried out for Germany, Spain, the United States, France and the United Kingdom. We applied System‐GMM estimation to dynamic panel data. The main results show that under creditor‐oriented systems, there is a decrease in the value of both financially distressed firms and those filing for bankruptcy.