The Home Bias in Equities and Distribution Costs

We show that incorporating distribution costs into a general equilibrium model of international portfolio choice helps to explain the home bias in international equity investment. Our model is able to replicate observed investment positions for a wide range of parameter values, even if agents have an incentive to hedge labor income risk by purchasing foreign equity. This is because the existence of a retail sector affects both the correlation of domestic returns with the domestic price level and the correlation between financial and non‐financial income.     

发包方与供应商间关系对供应商创新能力的影响

采用多元层级回归方法,对影响供应商创新能力的驱动因素以及供应商在供应链网络中的等级位置对各驱动因素与供应商创新能力间关系的调节作用进行了理论探讨和实证分析。结果显示:在跨国外包情景下,发包方支持、共享活动和联结强度对供应商的创新能力具有显著的积极影响;供应商在供应链网络中的等级位置对联结强度与供应商创新能力间关系具有显著的正向调节作用,对共享活动与供应商创新能力间关系的正向调节作用不稳定。     

公共信用信息归集和使用的地方规则比较研究

公共信用信息的归集和使用是当前各地方政府社会信用体系建设的焦点问题。少数省、市在公共信用信息归集和使用规则制定上的经验值得借鉴。对江苏省和陕西省、杭州市和上海市的公共信用信息归集和使用的地方规则进行比较,从公共信用信息归集、使用、异议处理、管理机制几个方面进行总结并提出建议。     

A general framework for price regulation of airports

Price cap regulation (PCR) was first implemented for privatized utilities in the UK in the 1980s. It has since been adopted by numerous countries as a regulatory regime in several sectors. This paper focuses on the development of different forms of price regulation of airports of which PCR is one variant. In countries where airport privatization is still in the early stages, the spectrum of airports and varied nature of regulatory regimes can be confusing and the lack of a general framework can itself become an obstacle to privatization. This paper proposes a general framework comprising decisions to be made for seven variables which is able to accommodate the diversity of airports and varied approaches that may be required as well as transitions between approaches. These approaches include light-handed regulation, price or revenue yield caps, rate of return regulation, earnings sharing, as well as choice of till.     

Pro-competition rules in airport privatization: International experience and the Brazilian case

This article aims to demonstrate the importance of establishing pro-competition rules in the concession of multiple airports to private companies by describing the recent Brazilian experience. More specifically, it addresses: (i) how the economic literature deals with potential competition among different airports, and how this competition was dealt with in the concession programs of Australia, Mexico and the United Kingdom; and (ii) Brazil's recent experience with airport concessions, where international benchmarking led to cross-ownership restrictions. As a conclusion, this paper defends that governments should design regulatory restrictions that account for the existence of competition among airports. Nevertheless, these restrictions must be carefully planned and designed to achieve their goals.     

基于元数据标准的外语教学资源库建设与应用

要实现外语教育资源的共建共享,需要根据外语学科特点制定统一的资源元数据标准,并基于此标准建立起一个便于资源管理和利用的通用平台,实现资源校内共享、校际共享,使数字化的资源更好地服务于外语课堂教学和自主学习。     

The Primacy of Space in Politics: Bargaining Rights,Freedom and Power in an İstanbul Neighborhood

This article explores and theorizes the ways in which urban space and political contestations are mapped onto each other. The ethnography illustrates the multifaceted transformations in a notoriously secularist neighborhood of ?stanbul, Te?vikiye, as it first turns into a high‐consumption locality in the post‐1980s, then into a high‐conflict urban space in the new millennium on the arrival of Muslim high‐spenders, particularly headscarved women. Aiming to fill the gap left by the absence of spatial analysis from political science and political sociology, I argue that the urban neighborhood becomes central for political contestation when both government and opposition fail to protect and secure liberties and rights. Now that devout Muslims are integrated into highly contested urban sites and share bourgeois lifestyles, ordinary people act in defense of their ‘sphere’ of freedom and privacy. This new territoriality is largely symptomatic of increasing fears of losing freedom, privacy and social status. This spatial defensiveness is reinforced by people's decreasing trust in, and increasing demands from, the state for the protection and security of their rights and liberties. My overarching argument is that exclusive attention to the bipolar clash between devout Muslims and secularists under the rubric of ‘neighborhood wars’ obscures multipolar conflicts around the discontents stemming from authoritarianism and democratization.     

Design limits and dynamic policy analysis

This paper characterizes the frequency domain properties of feedback control rules in linear systems in order to better understand how different policies affect outcomes frequency by frequency. We are especially concerned in understanding how reductions of variance at some frequencies induce increases in variance at others. Tradeoffs of this type are known in the control literature as design limits. Design limits are important in understanding the full range of effects of macroeconomic stabilization policies. We extend existing results to account for discrete time bivariate systems with rational expectations. Application is made to the evaluation of monetary policy rules.     

保险赔偿金作为遗产继承的实务研究——关于投保人指定“法定”受益人的探讨

投保人专业知识的匮乏以及保险代理人执业的不规范和保险公司审核保单的疏漏,使得近年来投保人指定受益人为＂法定＂的情形在人身保险中时有出现。对于保单上受益人一栏为＂法定＂的情形,宜将其作未指定受益人来理解。保险赔偿金也将作为被保险人的遗产,由在事故发生时被保险人的法定继承人按《中华人民共和国继承法》予以继承。     

中国建立自由贸易港的实践探索

随着对外开放的深入推进,中国正在探索、实施具有中国特色自由贸易港的建设。中共十九大报告提出了“赋予自由贸易试验区更大改革自主权,探索建设自由贸易港”,为各地区建设自由贸易港提供了指引。在阐述自由贸易港范畴与特征及功能类型的基础上,探究了中国建立自由贸易港实践中面临的主要问题,进而提出了完善法律制度,明确自由贸易港法律定位;加大统筹推进,实现各地区互联互动;全方位发展,加强进口、转口贸易制度创新;加强服务贸易、数字贸易制度创新,推动自由贸易港国际化发展;建立公平贸易环境,提升中国在国际经贸领域的话语权等对策建议。