Conditions for Optimality of a Currency Area

Two approaches to the theory of OCA are distinguished in this paper. The first, called the marginalistic approach, attempts to define the OCA from the point of view of a single country, and the second examines the optimality of a currency area of a given membership. The marginalistic approach and its limitations are discussed first. Then, the paper proceeds to the second approach which is discussed in the context of the cooperative game theory in characteristic function form; it argues that a currency area is optimal when the welfare functions of its constituent members are in the core. This implies that the welfare functions of all constituent members of the currency area are maximized and hence they are all better off with a common currency rather than with their own national currencies; hence, no member country has the intention to abandon the currency area. The paper concludes that the condition for the optimality of a currency area independently of the degree of economic similarity of its constituents requires that the characteristic function must exhibit non decreasing returns with respect to its size.     

销售电价政策性调整模型及其分析

销售电价改革呼声日涨,销售电价由市场决定是改革的最终目标,考虑到我国实际情况及电力行业作为国民经济的基础,实现销售电价由政府管制状态向市场化的平稳过渡是改革成功的关键。本文从电价制定者的角度出发,考虑基础产业价格的敏感性与社会福利最大化,设计出基于非线性规划理论和最优控制理论的销售电价静、动态调整模型,使用Kuhn—Tucker定理和Hamilton方法求解模型并给出仿真算例。结果表明：本文设计的静、动态调整模型均能实现电价有效平稳过渡,而基于最优控制的动态调整策略更能有效利用电力资源和充分增加社会整体福利。     

苦荞风味糕生产工艺研究

以苦荞粉为主要原料、辅以面粉,采用三熟处理苦荞,生产新型苦荞风味糕,优化配方为:特一粉∶苦荞粉6∶4,蔗糖50%,复合疏松剂0.5%,调和油10%,谷氨酸钠0.02%,NaCl 0.8%,活性酵母0.5%;最佳生产工艺为:苦荞籽80℃干燥3~5 h后炒制25 min,磨粉并过80目筛,75~80℃热烫20 min,加辅料并和面后,30℃发酵3 h,制坯成型后蒸30 min,所得苦荞风味糕细腻柔和、风味俱佳。     

优化旅游系统的生态学原理

如何通过优化旅游促进旅游业的可持续发展，是当今旅游研究的重大课题之一。某些生态学原理可为这一问题的解决提供有益的方法和独特的视角。     

基于行业差异的企业年金最优个人缴费率研究

借助于两期叠代模型,构建个人效用函数以及政府社会福利函数,测算满足个人生命周期效用最大化和社会福利最大化的最优企业年金个人缴费率.研究表明:全社会最优的年金个人缴费率为6.40％,当前费率水平还有较大提升空间;按各行业最优缴费率征缴年金费用,可以提高年金制度的养老保障程度;把过剩的年金缴费能力转移给个人账户,可以实现帕累托优化效果;给予年金个人缴费5％的税收优惠,可以鼓励和加快年金制度发展.     

The Link between Institutional and Economic Integration: Insights for Latin America from the European Experience

The European experience illustrates that institutional integration interacts with economic integration at the regional level. In this paper we ask how economic and institutional integration are linked and whether there is a causal link between the two. We present an original indicator of institutional integration and study how it developed vis-à-vis diverse measures of economic integration. In particular, we ask what insights can be drawn from the European process of regional integration, which started in the 1950s, for regional integration in Latin America today. We find that Latin America is currently less economically integrated not only than the European Union today, but for certain economic variables even than the European Union in the 1960s. A VAR analysis illustrates that the link between institutional and economic integration has worked both ways throughout the European experience. There is also evidence that stronger institutional integration has indeed led to deeper economic integration.     

EU Membership and FDI: Is There an Endogenous Credibility Effect?

ABSTRACT

The European sovereign debt crisis has increased the uncertainty regarding the benefits and costs of membership in the Economic and Monetary Union. In this article, we decided not to propose a general model but to focus on one of the important components of the European financial integration. In particular, we develop a structural gravity model, influenced by some very recent theoretical and econometric advancements. This new structural gravity approach provides needed theoretical underpinnings as well as strong support for the econometric estimation of gravity models.     

Arrow–Debreu equilibria for rank‐dependent utilities with heterogeneous probability weighting

We study Arrow–Debreu equilibria for a one‐period‐two‐date pure exchange economy with rank‐dependent utility agents having heterogeneous probability weighting and outcome utility functions. In particular, we allow the economy to have a mix of expected utility agents and rank‐dependent utility ones, with nonconvex probability weighting functions. The standard approach for convex economy equilibria fails due to the incompatibility with second‐order stochastic dominance. The representative agent approach devised in Xia and Zhou (2016) does not work either due to the heterogeneity of the weighting functions. We overcome these difficulties by considering the comonotone allocations, on which the rank‐dependent utilities become concave. Accordingly, we introduce the notion of comonotone Pareto optima, and derive their characterizing conditions. With the aid of the auxiliary problem of price equilibria with transfers, we provide a sufficient condition in terms of the model primitives under which an Arrow–Debreu equilibrium exists, along with the explicit expression of the state‐price density in equilibrium. This new, general sufficient condition distinguishes the paper from previous related studies with homogeneous and/or convex probability weightings.     

关于提高库存管理水平的思考—以岳进煤矿器材供应站为例

以岳进煤矿器材供应站为例,结合库存控制系统及该煤矿的实际特点,就其库存管理现状进行分析并找出存在的问题,进而从库存管理模式设计、加强物资需求计划管理以及仓储物资管理、完善物资信息管理系统等方面提出提高其库存管理水平的相应策略。