一类变质性物品的最优生产-库存策略

讨论了需求是时间的连续函数、允许缺货且缺货完全回补、变质率为常数、补货率有限的变质性物品在有限计划期内的生产-库存策略。同时证明了最优生产-库存策略的存在和唯一性,并给出了求最优策略的算法和算例。     

完善科技评价体系 健全决策咨询机制

文章阐述了科技评价体系的功能作用及其重要性,针对我国科技评价体系的发展现状及特点,提出了几点关于完善我国现有科技评价体系、健全决策咨询机制的主要做法和工作建议。     

转型经济利率市场化与我国货币市场发展

由于经济转型独特的初始条件,利率市场化不单单表现为放松利率管制,期间还交叉了一个利率定价传导机制重构的过程。利率定价传导机制取决于一国的金融制度与结构,尤其与货币市场的发育密切相关。目前,由于利率定价传导机制尚未完全成型,相应的利率市场化进程应以完善利率定价传导机制为重点,并最终完成以放松利率管制为主要特征的利率市场化改革。     

分红保险合同红利负债的确认与计量研究

近年来分红保险已成为我国保险市场的热销产品,它几乎占据了寿险市场的半壁江山,但分红保险负债的确认与计量问题,特别是分红保险红利负债的确认与计量问题在我国并未形成统一的规范,本文根据分红保险的不同红利分配方式对分红保险合同红利负债的确认与计量问题进行研究。     

上市公司股利分配理性化引导

本文认为,我国上市公司股利不分配股利的公司居多,且分配股利的以股票股利为主,现金股利的支付水平极低。这种非理性化股利政策对我国上市公司、投资者和资本市场均造成了极为不利的影响。为此,迫切需要尽快将上市公司的股利分配引导到理性状态。     

随机型连续盘点订货模型中供应链周期服务水平的波动和优化

对存在数量折扣和运费折扣的随机型连续盘点库存策略,进行了建模和分析,设计了供需双方合作的库存策略和订货策略,给出了理想的经济订货量和订货价格的甄选方法流程,模型确定了供应链理想的周期服务水平,证明了在该策略下,理想周期服务水平对于订货批量具有相对稳定性,并分析了此稳定性对供应链整体的重要意义,以及模型近似的合理性。在这个服务水平上,确定了再订货点和安全库存,并分析了该策略对供应链各方在管理措施方面的启示。利用该模型进行库存和订货决策,设计供应链合同,可以在不伤害服务水平的基础上,降低供应链总成本。     

Regulation of Mobile Telephony across the European Union: An Empirical Analysis

In this paper I analyze the impact of regulatory policy on prices and demand for mobile telecommunications services across the European Union. I estimate a reduced form model of the mobile industry using panel data for the EU countries from 1998 to 2002. Among others, I find the following effects: liberalization of fixed telephone lines has a negative impact on prices and a positive impact on the demand for mobile services, and the introduction of mobile number portability has a negative impact on prices.*I am grateful to Toker Doganoglu, Gerd Hansen, Eric Kodjo Ralph, Guido Friebel, participants at the 30th EARIE Conference 2003, the 2nd International Industrial Organization Conference 2004 and the 19th Annual Congress of the EEA 2004, and anonymous referees for valuable comments. I would like to acknowledge the generous financial support from the Volkswagen Stiftung and the Munich Graduate School of Economics which made this research possible. All errors are mine.1 Source: European Commission (1994).     

浮息债券基准利率创新分析

浮息债券基准利率的选择直接决定了浮息债券的投资价值。中国目前浮息债券基准利率有一年期定期存款利率和7日回购利率两种。本文主要通过对两种基准利率的生成机制以及市场波动特征进行分析,重点讨论了不同基准利率浮息债券的融资成本以及浮息债券基准利率创新对中国商业银行证券投资管理带来的新的挑战。     

Skill-Specific rather than General Education: A Reason for US–Europe Growth Differences?

In this paper, we develop a model of technology adoption and economic growth in which households optimally obtain either a concept-based, general education or a skill-specific, vocational education. General education is costly to obtain, but enables workers to operate new production technologies. Firms weigh the cost of adopting and operating new technologies against increased profits and optimally choose the level of adoption. We show that an economy whose policies favor vocational education will grow slower in equilibrium than one that favors general education. More importantly, the gap between their growth rates will increase with the growth rate of available technology. By characterizing the optimal Ramsey education policy we also demonstrate that the optimal subsidy for general education increases with the growth rate of available technology. Our theory suggests that European education policies that favored specialized, vocational education might have worked well, both in terms of growth rates and welfare, during the 1960s and 1970s when available technologies changed slowly. However, in the information age of the 1980s and 1990s when new technologies emerged at a more rapid pace, they might have contributed to an increased growth gap relative to the United States.     

Institutional quality and the effectiveness of aid for trade

Trade policy barriers and high transaction costs hinder developing countries from taking the full advantages of the global trading system. In order to help developing countries overcome the problem, the World Trade Organization (WTO) launched the Aid for Trade (AFT) initiatives in its Ministerial Conference held in Hong Kong in 2005. We examine the effects of AFT inflows on bilateral trade costs facing 133 developing countries while accounting for differences in their location on the contours of various measures of institutional quality. Our results from the estimation of a mixed effects (random-intercept and random-coefficient) model indicate that institutional quality significantly affects the extent to which AFT reduces bilateral trade costs. An important policy implication of our findings is that an economically robust and sustainable reduction in bilateral trade costs facing developing countries requires the presence of both promulgated and effectively functioning institutions such as regulatory power and the rule of law.