关键词:消费不平等 技能偏向型技术进步 技能溢价 劳动供给结构
Biased Technical Change, Skill Premium and Consumption Inequality：
Empirical Evidence from CHNS
Li Yuan Zilan Liu
Abstract: From the view of skill-biased technical change, this paper interprets the reason for consumption inequality between skill and labor and deduces the distribution effect and employment effect of biased technical change on income and consumption inequality. Based on the micro-data from CHNS, applying the quantile regression, this paper identifies the distribution effect and employment effect of biased technical change on consumption and their lags. As a result, the positive influences of skill-biased technical change on income and consumption in different quantiles show vigorous U-shape trend, promoting the income and consumption increase of skill. But wage stickiness leads to the lags of distribution effect. Due to the long lags of skill education and mobility, the change of skill and labor employment structure is restricted and the employment effect insignificant in short- run. Hence encourage the employment effect to smooth the consumption inequality induced by distribution effect.
Keywords: Consumption Inequality Skill-biased Technical Change Skill Premium Employment Structure
JEL Classification:D12 O33 J21
姜春海 宋志永 李向
关键词：三区域CGE模型 能源运输 输煤转输电 政府补贴
Analysis of Effect Simulating and Design of the Mechanism of Interests Compensating in “Coal transportation into Electric Power Transmission”: A Case Study of Shanxi - Shandong Based on the Three Area CGE Model
Chunhai Jiang Zhiyong Song Xiang Li
Abstract: “Coal transportation into electric power transmission” energy transmission strategy can significantly reduce the Beijing, Tianjin and other eastern coastal coal consumption, effective governance haze, improve the environment. This paper based on the three area CGE model, taking Shanxi Province - Shandong Province as a case study of, Shanxi coal exports to the variations of Shandong selected in [-15%, 15%], to every one percentage point as an adjustment scheme, namely coal transport volume decreased 1%, while electricity increased by 1%, the quantitative analysis of the Shanxi - Shandong “coal transportation into electric power transmission” 30 adjustment schemes of Shanxi, Shandong and other areas of economic, social and ecological effects. The study found that: with the “coal transportation into electric power transmission” intensified, Shanxi GDP, fiscal revenue, employment and social welfare of the residents showed a trend of decline, Shandong and other areas of GDP, fiscal revenue, employment and social welfare of residents is increasing. And intends to policy target to govern the eastern region of the haze and other air ecological problems in the opposite, Shanxi, Shandong and other areas of sulfur dioxide, carbon dioxide emissions increased. In accordance with the principle of “paying the beneficiary and the victim compensated”, Shandong should compensate Shanxi as a beneficiary. In the “coal transportation into electric power transmission” in Shandong subsidies for Shanxi, the view from Shandong the highest amount of subsidies is equal to the optimal amount of subsidies of the total welfare maximization angle, but lower than the minimum amount of subsidies from the perspective of Shanxi. At this point, Shanxi, GDP, employment, financial income is still a certain range of losses, therefore, in addition to Shandong, other regions or the central authorities should also make certain compensation for Shanxi.
Keywords: The Three Area CGE Model Energy Transportation Coal Transportation into Electric Power Transmission Government Subsidy
JEL Classification：Q48 Q52 Q58
关键词：纵向控制 道德风险 O2O模式 动态优化 激励相容
Vertical Integration, Moral Hazard, and Regulatory Design in O2O Mode
Bintao Shao Jianxin Ren
Abstract：As the representative of the latest Internet industry, O2O mode which makes our life more comfortable and convenient, also has led serious quality problems as to poor supervision. Our work put forward an analysis framework of vertical integration by platform of O2O. Because of "separation of contract and delivery", the moral hazard problems were generated in O2O mode, such as asymmetric information vs. reputation, transaction cost vs. contract, and opportunism in integration. Platform companies usually use the means of intermediate goods pricing and barriers to entry to resolve the service-providers’ opportunistic behaviors. In the reality，the platform enterprises will only choose their own utility maximization, and try to approach the goal. Thus, they may deviate from the overall welfare of society.
keywords：Vertical Integration Moral Hazard O2O Mode Dynamic Optimization Incentive Compatibility
JEL Classification: L20 L80
关键词：城市蔓延 生产性服务业集聚 工业污染 城市群
Urban Sprawl, Producer Services Agglomeration and Pollution Emission:
Based on the empirical study of Beijing Tianjin Hebei, Yangtze River Delta and Pearl River Delta Urban
Abstract: In the process of accelerating urbanization in China, the urbanization of land is faster than that of population urbanization, and the problem of urban sprawl is becoming more and more prominent, resulting in inefficient use of land, waste of public facilities and destruction of ecological environment. This paper analyzes the internal relationship between urban sprawl, producer services agglomeration and pollution emission, and makes empirical research on panel data of Beijing Tianjin Hebei, Yangtze River Delta and Pearl River Delta Urban Agglomeration in 2003-2015 years. The results show that the urban sprawl aggravates the pollution level of the city, but the agglomeration development of the producer services, the improvement of market freedom and the promotion of economic development have created conditions for pollution reduction. Therefore, to strengthen environmental regulation, play the supporting role of producer services, the city space expansion and adjustment of industrial structure fit, the city will help alleviate the ecological pressure, enhance the ability of city economic sustainable development.
Keywords: Urban Sprawl Producer Services Agglomeration Industrial Pollution Urban Agglomeration
JEL Classification: O14 Q52
关键词: 合作收益 高管薪酬 权力结构 定价机制
Allocation of Cooperation Benefits and Pricing Mechanism of Executive Compensation
Guangliang Wang Zishu Zhang
Abstract: From the perspective of team work, executive compensation is an issue on allocation of corporate earning in its essence. This paper analyzes the pricing mechanism of executive compensation in enterprise based on cooperative benefits. It is concluded that executive compensation depend on the power structure between executive and board. That is to say,the more powerful the executive, the higher compensation they will get. And the more powerful the board, the lower executive compensation will be. In fact, the divergence on executive compensation between the principal agent theory and the managerial power theory is derived from different assumption to power structure. This paper takes Chinese listed companies as samples to test the impact of the executive-board power structure on executive compensation. The results shows that the executive power has significant positive impact on executive compensation in listed companies, while board power restrained executive compensation. In order to establish reasonable executive compensation regulation in state-owned company, some suggestionsare put forward to balance the executive-board power structure in state-owned companies.
Keywords: Cooperation Benefits Executive Compensation Power Structure Pricing Mechanism
JEL: C12 D33 L16
关键词：制造业 房地产 产业空心化
Housing Booming and Hollow-Out of Manufacturing Sector: Evidence from Enlisted Companies
Abstract: The housing booming puts full-flung influence on the development of economics in China. The appreciation in land and house value facilitates increase the mortgage value and hence triggers the financial accelerator. The research investigates the hollow-out effects in manufacturing sectors, in which the firms were attracted by high profit in housing sector and transfers investment from their primary business to housing development. We find that, the low return to asset plays an important role in attracting enlisted companies' direct investment in housing development. The ST companies tend to bet the investment in housing development and transfer the risk to share holders. The hollow-out effect concentrates on the young and large companies. Since the hollow-out effect due to housing boom inversely affect the long-run growth in manufacturing, the policy makers should take into account these factors extensively.
Keywords: Manufacturing Sector Housing Booming Hollow-Out Effect
JEL Classification: L10 L60
关键词：政策性银行 绿色金融 静态博弈 演化博弈
The Game Analysis of Green Finance in Policy Banks
Under Information Uncertainty
Sheng Xu Jianan Chen
Abstract: Policy bank, as a financial institution to implement the government's social and economic policy, plays an important role in the development of green finance for its nonprofit characteristics and more significant influences compared to commercial banks. The choice of corporate pollution control strategy and the implementation of green finance of banks are result of multi game. This paper constructs a game model to analyze the choice between policy banks and enterprises, industry regulation organization. Conclusions can be drawn from the analysis: The cost is the determinant factor of the firm's pollution control decision. The policy bank credit control schedule, the communication between the policy bank and the enterprise and efficient law enforcement of the supervision departments will all effect the implementation of the green finance policy of the policy bank. Policy recommendations on the development of green finance for policy banks are put forward according to the conclusions.
Keywords: Policy Banks Green Finance Static Game Evolutionary Game
JEL Classification: G14 G21
关键词：社会资本 组织学习 技术创新绩效 高新技术企业
The Relationship among Corporate Social Capital, Organizational Learning and Technological Innovation
--An empirical Study Based on High Tech Enterprises in Shandong
Abstract: Under the background of knowledge economy, the ability of organizational learning is becoming more and more important. Based on the analysis of the connotation of corporate social capital and organizational learning, the measurement dimensions of corporate social capital and organizational learning are put forward. Based on the questionnaire survey of 220 high-tech enterprises in Shandong Province, the relationship between the two factors and technological innovation performance is discussed. Through empirical research, this paper finds that there are some differences between the impact of corporate social capital structure dimension, relational dimension and cognitive dimension for organizational learning and technological innovation performance, exploiting learning and exploration learning have varying degrees of impact on technological innovation performance, and their interaction will affect the performance of technological innovation.
Keywords: Corporate Social Capital Organizational Learning Technological Innovation Performance High Tech Enterprises
JEL Classification: L22 D23 D24 M54