国有经济结构分析与调整对策

国有经济战略调整是中央提出的国有企业改革和发展的重要目标。在计划经济体制向市场经济体制的转轨过程中，国有经济的分布仍不够合理，国有企业在竞争领域仍然占有很大的比重，在经济结构的优化方面仍然存在着一些不容忽视的问题。因此，对这一问题的深入研究，具有重要意义。     

The Relation between Market Values,Earnings Forecasts,and Reported Earnings*

Recently, much of the research into the relation between market values and accounting numbers has used, or at least made reference to, the residual income model (RIM). Two basic types of empirical research have developed. The “historical” type explores the relation between market values and reported accounting numbers, often using the linear dynamics in Ohlson 1995 and Feltham and Ohlson 1995 and 1996. The “forecast” type explores the relation between market value and the present value of the book value of equity, a truncated sequence of residual income forecasts, and an estimate of the terminal value at the truncation date. The analysis in this paper integrates these two approaches. We expand the Feltham and Ohlson 1996 model by including one‐ and two‐period‐ahead residual income forecasts to infer “other” information regarding future revenues from past investments and future growth opportunities. This approach results in a model in which the difference between market value and book value of equity is a function of current residual income, one‐ and two‐period‐ahead residual income, current capital investment, and start‐of‐period operating assets. The existence of both persistence in revenues from current and prior investments and growth in future positive net present value investment opportunities leads us to hypothesize a negative coefficient on the one‐period‐ahead residual income forecast and a positive coefficient on the two‐period‐ahead residual income forecast. Our empirical results strongly support our hypotheses with respect to the forecast coefficients.     

Labor income and risky investments: can part-time farmers compete?

In the developed countries, a majority of farm households receive at least as much income from nonfarm sources as from the farm. Such part-time farms have survived inspite of lower returns than full-time farms. This paper considers when lower returns to part-time farming could be compensated by risk-reduction due to diversification of income sources. The paper uses a dynamic portfolio choice model with labor income. The model and results could be applied in other contexts as well.     

Regional integration: an empirical assessment of Russia

Using a statistical model of commodity trade, we quantify the evolution of regional economic integration within Russia during 1995–1999, and explore potential determinants of this evolution. Our integration measure exhibits rich regional variation that, when aggregated to the national level, fluctuates substantially over time. In accounting for this behavior, we draw in part on theoretical models that emphasize the potential role of openness to international trade and regional disparities in income in threatening economic integration. Controlling for a host of additional regional- and national-level variables, we find a strong negative correspondence between openness to international trade and internal economic integration.     

马克思如何实现对黑格尔辩证法的改造

马克思是如何实现对黑格尔辩证法的唯物主义改造的呢?马克思反复强调,黑格尔哲学是一种“头足倒置”的哲学,通过推敲黑格尔和马克思的辩证法思想,本文认为马克思实现对黑格尔辩证法的改造,至少经过了三个倒置:倒置了黑格尔辩证法辩证发展的主体;倒置了黑格尔辩证法辩证发展的中介;倒置了黑格尔辩证法辩证发展的理论结构。     

The division of labour and market structure

Most firms produce most of the time under conditions of substantial economies of scale. The division of labour, according to Adam Smith the mainspring of wealth, is intrinsically an economies of scale phenomenon. Market structure in most industries in characterized by a small number of suppliers and a larger number of customers. I explain this law of small numbers as the equilibrium of two forces: the deconcentration effect of imitation and the market spliting effect of further refinements in the division of labour by innovation. A deconcentrated market creates larger incentives for market splitting (product differentiation) by innovation than a concentrated market. But market splitting raises concentration in the market and it raises the number of different markets in the economy. Before the economies of scale of old products are fully exploited, new products are being offered which again are produced under conditions of economies of scale.     

领导干部在农业结构调整中应强化十种意识

新阶段的农业结构调整,必须适应变化了的新形势.为此,要进一步深化对农业结构调整的认识,牢固树立大农业意识、市场意识、规则意识、品牌意识、科技意识、信息意识、产业意识、工业意识、城镇意识和服务意识.     

Stability and Segregation in Group Formation

This paper presents a model of group formation based on the assumption that individuals prefer to associate with people similar to them. It is shown that, in general, if the number of groups that can be formed is bounded, then a stable partition of the society into groups may not exist. (A partition is defined as stable if none of the individuals would prefer be in a different group than the one he is in.) However, if individuals' characteristics are one-dimensional, then a stable partition always exists. We give sufficient conditions for stable partitions to be segregating (in the sense that, for example, low-characteristic individuals are in one group and high-characteristic ones are in another) and Pareto efficient. In addition, we propose a dynamic model of individual myopic behavior describing the evolution of group formation to an eventual stable, segregating, and Pareto efficient partition. Journal of Economic Literature Classification Numbers: C72, H41.