商业银行资本结构:存在一个具体的比例吗

与工商企业相比,银行业的杠杆比例明显偏高.这种普遍存在的鲜明对比与经典的公司财务理论是矛盾的.本文从银行的本质特征分析银行资本结构的特殊性,考察商业银行市场均衡资本的形成、银行安全网、资本监管对银行资本结构的影响,并从经济资本、监管资本、会计资本的角度研究银行资本数量的确定.本文认为商业银行最优资本结构难以确定为具体的比例,可以大致地定义在一个合理区间里.     

A Graphical Exposition of the Inconsistency of Optimal Monetary Plans

Abstract: The author presents a geometrical framework in which the inability of discretionary policy (consistent policy in the sense of Kydland and Prescott) to be socially optimal is demonstrated. Policy based on a rule results in a higher level of utility. The author extends the model to demonstrate that policy of a Rogoff conservative central banker results in approaching the same equilibrium as that from a monetary rule. Finally, the framework shows that attempts to exploit the Phillips curve result in stagflation.     

基于新型工业化的甘肃工业战略体系调整

党的十八大报告提出：“坚持走中国特色新型工业化、信息化、城镇化、农业现代化道路,推动信息化和工业化深度融合、工业化和城镇化良性互动、城镇化和农业现代化相互协调,促进工业化、信息化、城镇化、农业现代化同步发展.”甘肃作为典型的重工业省份,在新型工业化过程中暴露出诸多问题,如何立足现有产业体系和比较优势,发展新型工业化道路,促进信息化与工业化深度融合,全面增强工业整体实力,将对甘肃经济可持续发展和取得全面建设小康社会的胜利有着重要意义.     

Services,industry evolution,and the competitive strategies of product firms

Services of different types have become increasingly important for product firms. While these firms mainly focus on products, managers and researchers lack a comprehensive framework to understand when to make significant investments in particular kinds of services. We identify three categories of product‐related services from a product firm—smoothing and adapting services, which complement products, and substitution services, which enable customers to pay for the use of a product without buying the product itself. We develop propositions about the relative level of these different kinds of services vis‐a‐vis industry evolution, as well as suggest how these services affect industry structure. We draw upon various literatures, though we conclude that the relationship between products and services is more complex and richer than any one literature suggests. Copyright © 2014 John Wiley & Sons, Ltd.     

General equilibrium impact of an energy-saving policy in the public sector

We analyse a disregarded environmental policy instrument: a switch in government expenditure away from energy (or other natural resources) and toward a composite good which includes energy-saving expenditure. We first develop two variants of an analytical general equilibrium model. A composite good is produced with constant returns to scale, and energy is imported or produced domestically with diminishing returns, yielding a differential rent to its owners. The government purchases energy and composite goods from private firms. Such a policy unambiguously increases employment. It also raises private consumption and welfare under two conditions: (i) it is not too costly and (ii) the initial share of the resource is smaller in public spending than in private consumption, or the difference is small enough. We then run numerically a model featuring both importation and domestic production of energy (oil, gas and electricity), for the OECD as a whole. Simulations show that employment, welfare and private consumption rise. We provide magnitudes for different parameter values. Earlier versions of this paper have benefited from conference participants at the European Council for an Energy-Efficient Economy, International Society for Ecological Economics World Congress, CIRED seminar and EUREQua environmental economics seminar. We especially thank Michèle Sadoun and two anonymous referees. The usual disclaimer applies.     

基于城市空间规划设计视角的颗粒物空气污染控制策略研究综述

颗粒物空气污染是世界各国在快速城镇化过程中共同面临的严峻挑战。借助CNKI和Web of science,通过文献查阅整理城市空间在颗粒物污染方面的研究,系统性地总结该研究领域的整体特征与调节颗粒物污染的城市空间规划设计策略。结果显示：1)该研究属于一个新兴而前沿的学术领域,近年来呈持续上升趋势,相关文献主要来自中国、美国、英国与德国;2)绿色空间通过城市尺度的风道网络、绿地系统规划,街区尺度的公园绿地、湖泊湿地、道路绿带、城市森林对颗粒物污染产生消减作用;3)灰色空间通过城市尺度的城市形态优化、土地利用布局、街区尺度的街谷空间改造降低颗粒物污染;4)遥感反演与数值模拟技术(WRF、CFD)为规划设计策略提供技术支撑。最后对已有研究成果进行总结,并提出研究展望。     

以多层生态战略破解先发者主导优势：以EDA为例

在集成电路产业超过半个世纪的发展历程中,电子设计自动化软件（EDA）应运而生并随着技术进步和产业分工不断演化和发展,成为今天贯穿集成电路全流程和驱动摩尔定律不断延续的基础支撑工具。尽管表现出极端重要性,但电子设计自动化软件的总体市场规模较小。从当前市场结构来看,美国企业处于先发优势和寡头垄断地位,我国在这一领域发展相对滞后且在美国打压背景下发展严重受限,这也成为我国集成电路产业被“卡脖子”的关键领域。在后发者突破先发者主导优势获取发展机会的过程中,电子设计自动化软件领域要尤其重视产业生态的参与和重构,通过在创新生态、产品生态、产业生态和国际竞争生态中实施多层生态战略,逐步构筑起后发企业的生态位优势,驱动电子设计自动化软件的高质量发展。基于生态赶超和发展的目标,未来在支持电子设计自动化软件发展过程中,应当在顶层设计、系统设计、产权保护等方面发挥国家的力量,同时强化在人才和基础创新中的短板,主动融入全球产业生态。     

Jevons's Theory of Political Economy and the ‘Marginalist Revolution’ *

Very many statements have been made about the (non-)existence and characterisation of the ‘marginal revolution’ but it is urged here that detailed study of the relevant texts is far more valuable than the making of grand statements about such matters. In particular, a close reading of Jevons's Theory of Political Economyis proposed as an antidote to over-easy generalisation. Jevons by no means rejected all elements of classical theory. He did not propose a catallatic revolution; he attributed such an emphasis to earlier authors and himself stressed the role of production. It is shown that Jevons was very aware of the necessarily general equilibrium nature of his theory but that he was simply not able to cope with it satisfactorily; it is suggested that this explains, at least in part, his fluctuating and apparently inconsistent statements relating utility and labour to value. Jevons certainly attempted to sketch a complete marginal productivity theory of distribution, even if he was far from successful in providing one.     

申遗背景下的中国自然遗产潜力评估

参照世界自然遗产地学、美学、生物生态过程和濒危物种栖息地4项申遗评选标准,依据地貌景观、生物景观等价值构成,建立美学价值评估方法;依据世界遗产13类地学主题评价框架、地质演化过程、典型类型地貌等价值构成,建立地学价值评估方法;依据生态系统过程、物种多样性、栖息地等价值构成,建立生物生态学价值评估方法。利用全球对比的方法提取和评估突出普遍价值,将中国自然遗产潜力区分为青藏高原区、西北干旱区、东部季风区等生态环境基本单元,筛选我国世界自然遗产潜力区。重点提出海洋类世界自然遗产和西部北部地区申遗的可能性,提出中国申报世界自然遗产突出普遍价值的评估策略与优先原则。     

海丰县红色旅游开发策略

红色旅游开发对我国近年来的旅游发展推动作用十分明显。海丰县拥有中国第一个苏维埃政权、彭湃和红宫红场等红色历史事件、红色名人和遗迹等红色旅游资源,通过对其发掘和整理,丰富展示方式和内容,并与本县生态旅游资源、相邻县区红色旅游资源进行优化组合,树立“激情彭湃,南海物丰”的旅游形象,可以强化海丰红色旅游的品牌效应,提高知名度,促进红色旅游的发展。