反倾销的跨国实证分析——基于宏观经济因素对反倾销立案影响的理解

本文基于15个国家1995－2004年反倾销的统计数据,通过模型分析以及实证研究,表明宏观经济因素对反倾销立案存在显著影响。文章依据GDP增长率、失业率、汇率及经常项目差额等相关数据,指出这些变量与反倾销立案数量显著相关,强调失业率的影响比GDP增长率更加显著。在发展中国家中,汇率对反倾销立案数量影响的显著性较低,而经常项目差额对反倾销立案数量影响的显著性较高。本文的分析在一定程度上给政府制定反倾销政策提供了相关参考价值。     

The influence of Taiwan’s stock market on Bitcoin’s price under Taiwan’s monetary policy threshold

ABSTRACT

This study uses a smooth transition autoregressive model with exogenous variables (STARX) to investigate whether there is a nonlinear relationship between Bitcoin and Taiwan’s stock market taking into account Taiwan’s monetary policy threshold during 2 February 2012 to 31 August 2019. The statistical results show there is a threshold effect and confirm a nonlinear relationship between Taiwan’s stock market and Bitcoin, with variations over time and across Bitcoin and Taiwan’s stock market. Specifically, we find that Bitcoin responds asymmetrically to Taiwan’s stock market according to the threshold value. Furthermore, the return on the closing price of TAIEX with a lag of two periods under Taiwan’s monetary policy threshold has a nonlinear impact on the return on the closing price of Bitcoin.     

Modeling corner solutions with panel data: Application to the industrial energy demand in France

This paper provides an empirical application of Lee and Pitts (1986) approach to the problem of corner solutions in the case of panel data. This model deals with corner solutions in a manner consistent with the firm behavior theory while controlling for unobserved heterogeneity. In this model, energy demand at industrial plant level is the result of a discrete choice of the type of the energy to be consumed and a continuous choice that defines the level of demand. The econometric model is, essentially, an endogenous switching regime model which requires the evaluation of multivariate probability integrals. We estimate the random effect model by maximum likelihood using a panel of industrial French plants from the paper and pulp industry. We calculate empirical price elasticities of energy demand from the model. We also study the effects on energy demand of an environmental policy aimed at reducing CO₂ emissions. The authors are grateful to the Institut Français de eEnergie for its financial support and to the SESSI for providing the data. We would like to thank two anonymous referees for useful comments and suggestions. the usual disclaimer applies.     

Does technological diversification matter for regional innovation capability? Evidence from China

This study empirically examines the relationship between technological diversification and regional innovation capability (RIC) based on 30 Chinese provinces from 2001 to 2011. Our results support the positive role of technological diversification in affecting RIC. We also investigate the moderating effects of R&D investments and openness on the diversification-innovation relationship. The results indicate that R&D investments exert a positive effect on RIC, while openness, measured as foreign direct investment, exerts a negative influence on RIC. We thus argue that the positive diversification-innovation relationship is contingent on multiple factors. Both policy and practical implications are discussed.     

Disability Retirement in a Welfare State

The increasing number of disability pensioners may put a strain on the welfare state. In this paper, we try to assess the effect of financial incentives on disability entrance. A sample of Norwegians on long-term sick leave at the beginning of 1989 is examined as of the end of 1989, and the exit routes are studied in a multinomial logit model. The results indicate that the incentive effects of wages are larger than the disincentive effects of benefits. Furthermore, there is no evidence that having a subjective diagnosis affects the probability of becoming a disability pensioner.
JEL Classification : H 55; I 18; J 26