Does economic growth and energy consumption drive environmental degradation in China’s 31 provinces? New evidence from a spatial econometric perspective

The panel data analysis points to economic and social factors contributing to NO_x, PM_2.5, PM₁₀, SO₂, and VOCs in China’s 31 provinces. The spatial correlation analysis using Global and Local Moran’s I values indicates the existence of a significant and positive spatial autocorrelation with respect to environment, economy and energy, and the high spatial correlation is evident in the eastern region, covering the northern part of Yangtze River Delta, Huaihai Economic Zone, and the lower reaches of the Yellow River Economic Belt. The empirical estimation is performed through spatial lag and spatial Durbin models. All emitted air pollutants in 31 provinces have significant spatial dependence and strong spillover effects. There is an inverted U-shaped relationship between emitted air pollutants (NO_x, PM₁₀, VOCs, and PM_2.5) and per capita GDP, which follows the EKC hypothesis. The relationship between SO₂ and per capita GDP does not follow the EKC hypothesis. There is a positive relationship between pollutant emissions and coal consumption, which is consistent with current studies for various countries like Canada, Denmark, UK and US and regions like New York State. However, the effects of science and technology investment on air pollutants are mostly positive, which is not as policy expected.     

PITFALLS IN CROSS‐SECTION STUDIES WITH INTEGRATED REGRESSORS: A SURVEY AND NEW DEVELOPMENTS

In cross‐section studies, if the dependent variable is I(0) but the regressor is I(1), the true slope must be zero in the resulting “unbalanced regression.” A spuriously significant relationship may be found in large cross‐sections, however, if the integrated regressor is related to a stationary variable that enters the DGP but is omitted from the regression. The solution is to search for the related stationary variable, in some cases the first difference of the integrated regressor, in other cases, a categorical variable that can take on limited number of values which depend on the integrated variable. We present an extensive survey, new developments, and applications particularly in finance.     

我国M2现状及未来趋势浅析

对我国当前M2快速增长的原因,从经济发展、居民储蓄和外汇储备等三个方面进行深入分析,并在此基础上对未来发展趋势进行预测分析。     

碳排放交易制度的节能减排路径：效率提升还是结构转型？——来自中国省级数据的准自然实验

以中国2013年以来实行的碳排放交易试点政策作为准自然实验事件，基于2000-2017年中国30个省市的面板数据，运用双重差分法实证检验碳排放交易制度的节能减排效应及影响机制。研究发现，碳排放交易制度有利于实现中国经济“节能”与“减排”的双重目标，并通过了一系列稳健性检验；作用机制检验表明，能源效率提升和能源结构转型都是碳排放交易制度实现节能减排目标的重要路径；能源效率提升在碳排放交易制度实现“节能”和“减排”中分别发挥了10.19%和5.93%的作用，而能源结构转型分别发挥了48.87%和52.95%的作用。这意味着中国碳排放交易制度实现节能减排的主要动力来自能源结构转型，而非能源效率提升。能源结构转型涉及问题更加宏观和深层，这为中国加快推进节能减排进程，特别是完成2030年碳达峰和2060年碳中和的国际承诺提供政策启示。     

Advancing environmental productivity: Organizational mindfulness and strategies

This study investigates the importance of mindfulness‐based organization systems and policies on the organization's continuous efforts to become a greener company. The study is devised as a pooled cross‐sectional time series analysis of productivity in energy consumption, water utilization, and waste generation and recycling of U.S. companies. The data set taken from U.S. Newsweek 500 recorded 600 companies dispersed into 63 industries during the period of 2012–2014 and provided 1,498 company–industry–year observations. The study found that systems and policies (e.g., deployment of third‐party auditors for its environmental metrics report; linkage of the remuneration of company's senior executive team with the achievement of environmental performance targets; and establishment of a committee at the Board of Directors' level whose mandate includes sustainability of the company in environment‐ and resource‐related matters) connect the company's mindfulness to its effort in improving the environmental quality through the company's productivity in energy consumption, water utilization, and waste generation and recycling. The relationships are positive and significant. Also, systems and policies serve as a motivator for the firm to continue to improve upon the current achievements. The study emphasizes the importance of translating organizational and individual mindfulness into organization policies and systems in order to motivate the organization to continuously improve its productivity in energy consumption, water utilization, and waste generation and recycling leading to improvements in environmental quality.     

PEDAKSI: Methodology for Collecting Data about Survey Non-Respondents

The effects of unit non-response on survey errors are of great concern to researchers.However, direct assessment of non-response bias in survey estimates is rarely possible.Attempts are often made to adjust for the effects of non-response by weighting, but thisusually relies on the use of frame data or external population data, which are at bestmodestly correlated with the survey variables. This paper reports the development ofa method to collect limited survey data from non-respondents to personal interviewsurveys and a large-scale field test of the method on the British Crime Survey (BCS).The method is shown to be acceptable and low cost, to provide valid data, and to haveno detrimental effect on the main survey. The use of the resultant data to estimatenon-response bias is illustrated and some substantive conclusions are drawn for the BCS.     

精馏过程的节能和优化设计的探讨

精馏过程的节能,对于减少能源消耗,降低生产成本和保护环境具有十分重要的意义.在精馏过程中可以采用最适宜回流比操作和最佳进料状态,使用中间冷凝器和中间再沸器,高效精馏、热泵精馏.合理安排多组分物料分离流程,直接利用过程热量及开发应用高效换热器等措施.本文从最佳回流比R的选择、进料温度及进料状态的确定等方面,详细的分析了在精馏塔的设计过程中,如何实现设计的优化问题,以实现节能降耗.     

An objective Bayesian analysis of common stochastic trends in international stock prices and exchange rates

This paper uses Bayesian methods to analyze unit root and cointegration properties of two different finance data sets. Avoiding the use of subjective prior information, the paper surveys and utilizes several different objective Bayesian methodologies in an investigation of common stochastic trends in international stock markets and in spot and forward exchange rates for several different countries.     

Nonparametric estimation of distribution functions

Summary Using Silverman and Young’s (1987) idea of rescaling a rescaled smoothed empirical distribution function is defined and investigated when the smoothing parameter depends on the data. The rescaled smoothed estimator is shown to be often better than the commonly used ordinary smoothed estimator.     

UNEMPLOYMENT, HYSTERESIS AND TRANSITION

In this paper, we quantify the degree of persistence in the unemployment rates of transition countries using a variety of methods benchmarked against the EU. Initially, we work with the concept of linear ‘Hysteresis’ as described by the presence of unit roots in unemployment as in most empirical research on this area. Given that this is potentially a narrow definition, we also take into account the existence of structural breaks and nonlinear dynamics in unemployment. Finally, we examine whether CEECs' unemployment presents features of multiple equilibria, that is, if it remains locked into a new level whenever some structural change or sufficiently large shock occurs. Our findings show that, in general, we can reject the unit‐root hypothesis after controlling for structural changes and business‐cycle effects, but we can observe the presence of a high and low unemployment equilibria. The speed of adjustment is faster for CEECs than the EU, although CEECs tend to move more frequently between equilibria.