摘要：交易成本固定项会破坏消费者名义偏好的连续性和凸性，从而使得消费者的理性选择变得十分复杂。本文发现了一种解析几何方法，该方法通过把非线性规划问题用动态规划的方法来处理可以把多维空间的消费者理性选择问题转换到二维平面中分析，从而大大简化了交易成本固定项引起的复杂性。在交易成本固定项也大于零的条件下，本文证明：1) 市场的供求函数在许多价格点是不连续的，但供求曲线是关于市场报价连续移动的，且在不连续的地方，交易者是否交易无差异；2) 市场均衡价格总是存在的，但在均衡价格下，市场彻底出清的条件是：要么协商交易成本为零，要么在特殊条件下采用计划手段。
关键词：一般均衡 交易成本 偏好的凸性 偏好的连续性 供求函数的连续性
关键词：语言规划 成本收益 区域相关 语言资源与语言环境
摘 要：土地征用过程中形成的土地增值收益不仅仅是两个市场割裂形成的经济租金，更是由于城乡二元的土地制度造成的制度租。引入城市化和土地集约利用，构建基于城乡二元土地制度的土地增值收益形成模型，确定土地增值收益的范围，分析政府在土地征用过程中应该承担福利人的角色而非经济人的角色，充分补偿农民的失地收益，并实现农民转为城市居民后的可持续发展，保障城市经济的可持续发展。从现阶段经济发展的形势和城市化内涵的转变对分配比例 的确定及其影响因素进行分析，提出充分提高农地增值收益的分配比例，实现城市化从外延式向内涵式的转变。
【摘 要】从2002年11月5日，中国证监会和中国人民银行联合颁布《合格境外机构投资者证券管理暂行办法》，到现在，QFII制度在我国实行已经有五年多时间，这些合格境外投资者也随着时间的推移正在逐步地深入到我国股票市场，那么QFII对我国股票市场究竟带来了怎样的影响? 本文拟从股票市场整体价格波动的角度入手，根据标志QFII逐步进入我国证券市场的典型事件，利用GARCH类模型及事件分析法，试图刻画关于QFII各事件发生前后我国股票市场价格波动的变化，以揭示QFII制度给我国股票市场的波动所带来的影响。
【摘 要】本文选取了伦格尼和塞茨（Loungani and Sheets）的中央银行独立性评估方法，根据《中国人民银行法》(1995年和2003年)，并结合中国人民银行实际操作，对中国人民银行独立性进行了评估。根据伦格尼和塞茨(Loungani and Sheets, 1997)的评估方法，得出中国人民银行的评估结果与其他转轨国家相比，显示尽管1995年以来中国人民银行的独立性有所提升，但仍处于较低水平，尤其是中国人民银行的政治独立性很低。
【关键词】中央银行独立性 评估 伦格尼-塞茨（Loungani-Sheets）方法
1.Title: An Analysis of General Equilibrium With Positive Transaction Cost
Abstract: The fixed term of transaction cost will ruin the continuity and convexity of consumers’ nominal preference so that the rational choice of consumers will become extremely complicated. I have found an analytically geometric approach, by which the multiply-dimension choice problem of rational consumers can be tackled with two-dimension diagram, so the analysis of the fixed term of transaction cost will be simplified. Then, in the case that the fixed term of transaction cost is positive, this paper proves that: 1) The market supply and demand functions will be discontinuous at many price points, but the move of supply and demand curves will be continuous with respect to price, and at those price points incurring discontinuity, the corresponding traders’ utility or profit will be indifferent between making a trade and doing nothing. 2) There must exist a market equilibrium price, at which, however, one of the necessary conditions for the market absolutely and soundly clearing must be either that the cost of negotiation and arrangement among related traders is zero or to adopt some planning way to deal with the special situation.
Keywords: general equilibrium, transaction cost, convexity of preference, continuity of preference, continuity of supply and demand functions
JEL Classifications:D500 D510
2. Title: The Economic Analysis of Knight’s Uncertainty: An Explanation for the Efficiency of Group Decision-Making
Abstract:The essence of uncertainty is that the agent does not know the relevant objective probability distribution. He must create a “subjective” one to support his decision. Classical EUT does not cover such prevalent problem in real world. This article classifies the uncertainty as essential one and uninformative one in term of its origin. The latter results from incomplete information and need more attention from economics. We use a method of “overlapping” probability distribution to catch such uncertainty. Under this framework, agent has not all concrete information about relevant distributions. We study the problem of the efficiency of group decision-making by such method and found that group decision under uncertainty was more efficient than individual decision because the former fully used the unshared information distributing to every independent ones.
Key Words:Uncertainty, Overlapping Probability Distribution, Efficiency of Group Decision-Making
JEL Classification: D700 D800 D810
3. Title: Coase Theorem, Individual Rationality and Economic Efficiency: A Restatement of the Coase Theorem
Abstract： It is not accidental that Coase Theorem did not bring about a complete change to the basic structure of neoclassical microeconomics. The standard version of Coase Theorem makes one easily focus on the “invariant proposition”, namely, different property rights arrangement would not lead to different efficiency result, thus intriguing largely lawyers rather than economists. It is necessary to restate the Coase Theorem from the traditional rationality-efficiency perspective, if one wishes to highlight its bearing on economics. By way of our restatement, not only is the core status of individual rationality recovered in economics, moreover, because of the introduction of the transaction costs dimension, the individual rationality is emancipated from the ideal world of neoclassical microeconomics, and becomes a reality-relevant and analytically useful concept.
Key Words:Coase Theorem Individual Rationality Economic Efficiency Restatement
JEL Classifications: B250
4. Title: Economic Analysis on Language Planning
Abstract: The full text covers three sections: economic analysis on language planning, correlations between language and regional economies, language resources and linguistic environment, and all of them can construct a whole framework for the economics of language mainly. We give a full and accurate cost-benefit analysis on language planning, and then we point out that it will be hard to make any more breakthrough in this field. The population movement has some influences on the language, and there are correlations between the languages and the regional economies, and we can say that is a macroscopical trend in sociolinguistics. The introductions about language resources and linguistic environment in the past are scattered, unclear and immethodical, and we think that the primary cause may be the insulation of language resources, linguistic environment, economics of language and linguistic demography, and that it lost the studying location. The full text multipurpose uses the qualitative method and quantitative method. We try to solve the practical problems, and we also keep at exploring the theory.
Key words: Language Planning cost-benefit analysis regional correlations language resources and linguistic environment
JEL Classifications:I280 I380 Z110 A120
5. Title: Institution Rent, Land Added-Value and Government’s Behaviors
Author(s): Huanzhao Zhang Shouyi Hao
Abstract: The article discusses land value-added in land expropriation, shows that it is not just the economic rent from the two fragmented land market, but also institution rent due to the dual urban-rural land institution. To this end, it constructs the land value-added receipts formation model based on the dual urban-rural land institution and introduces two variables of urbanization and land intensive use to the scope of the land value-added benefits. On this basis, the government should play the role of welfare rather than the economic role in the process of land expropriation to concentrate the landless farmers fully to realize the sustainable development of those people who transfer from landless farmer to citizens while ensuring the sustainable development of urban economy but not increase the cost of urbanization too much. At the same time, we discuss the value of and its influencing factor from current economy development and the transform of the connotation of urbanization from extensive to intensive.
Key words:Institution rent Land value-added Government’s behaviors
JEL Classifications:C210 D210 O180 Q240
6.Title: Ownership Structure, Control Rights Contest and Corporate Governance
Author(s): Li Wang Liuqin Chen Zeng Qing-jiu
Abstract：This paper investigates the relationship between ownership and corporate governance from a new perspective of control rights. We build models to analyze the governance mechanics of control rights contest and the relationship between control rights contest and ownership structure, and also examine these theoretical results with empirical analysis on China lists. Our conclusion suggest that control rights contest can effectively constrain private benefits of control rights in companies controlled by block shareholder and protect minority shareholder, and that the ownership structure will be stable in firms of concentration equity but the contest of corporate control tend to be emerge easily in firms of share control. So share control will help to improve corporate governance and our empirical analysis also testifies these conclusions.
Key words: Ownership Structure, Corporate Governance, Control Rights Contest, Share Control
JEL Classifications: M140
7. Title: The Effect of QFII On Stock Market Volatility
Abstract：From September 5th, 2002, when China’s Security Regulatory Commission (SRC) and The People’s Bank of China together decreed “Provisional Measures on Administration of Securities Investments of Qualified Foreign Institutional Investors (QFII)”, to the present, the institution of QFII has been carried out for more than four years in our country; these qualified foreign institutional investors have been gradually gone deep into China’s stock market as well, so, what influence have QFII brought in on China’s stock market？In order to study the influence of the investing behaviors of QFII on China’s stock market, this article will begin from the price volatility of the entire stock market, uses rate of return from Shanghai Security Exchange and Shenzhen Security Exchange as price index of stock market. Using the events-study method and constructing GARCH model to capture the changes of China’s stock market before and after various events of QFII happened.
Key Words:QFII; stock market volatility; GARCH model; event study methodology; herding behavior
JEL Classifications:G140 G150
8. Title: Central Bank Independence Index of People’s Bank of China: Employing Loungani & Sheets-LS Method
Abstract: This paper employs Loungani & Sheets-LS method to measure Central Bank Independence Index of People’s Bank of China, based the Law of People’s Bank of China(1995,2003) and actual operation, and compare the result with other transition countries. The paper suggests that independece index of People’s Bank of China is rising from 1995, but it is still very low, especially political independence.
Key Words: Central Bank Independence, Index, Loungani-Sheets method
9. Title: The Review ofthe Value Standard of Efficiency in Company Law
Abstract: As the international competition more hotly, people have the higher efficiency request ion for the criterion of the law in company. It is an exigent need to research the value of company law. Theoretically, the value of law has not arrived at an agreement. But, the ruler of company law is a summarization of the effective practice, the law-economists notice the value of it. In practice, many countries not only accept the value but also adapt the variety through revising the company law. Comparing with them, the value standard of us should be advanced .we should establish the value standard of efficiency in our company law to adapt the request of efficiency. We should advance in revise frequency, enforcement mechanism and so on.
Keywords:company law, efficiency, value standard
JEL Classifications: K220
10. Title: Survey on Effects of Informal Institution on Industry Cluster Development
Abstract:At present, there are abundant research of informal institution and industry cluster in national and foreign research field. This paper will be briefly summarized these research literature, it mostly expatiate scholars’ viewpoint on positive and negative effect of informal institution in accelerating industry cluster development. On the base of literature review, this paper analysis the limit of present research, and bring forward new research path and development direction of future research.
Key words:informal institution; industry cluster; cooperate relationship
JEL Classifications: L220
11. Title: Does Culture Affect Economic Outcomes?
Author(s):Luigi Guiso Paola Sapienza Luigi Zingales
Abstract：Economists have been reluctant to rely on culture as a possible determinant of economic phenomena. The notion of culture is so broad and the channels through which it can enter the economic discourse so vague that it is difficult to design testable hypotheses. In this paper we show this does need to be the case. We introduce a narrower definition of culture that allows for a simple methodology to develop and test cultural-based explanations. We also present several applications of this methodology: from the choice to become entrepreneur to that of how much to save, to end with the political decision on income redistribution.
Key Words:culture, culture-based, economic outcomes
JEL Classifications：A100 J100 Z100