When measuring the nominal effective exchange rate （NEER）, three factors should be considered： direct import competition, direct export competition and third market competuion. The traditional NEER methodology usin...When measuring the nominal effective exchange rate （NEER）, three factors should be considered： direct import competition, direct export competition and third market competuion. The traditional NEER methodology using aggregated export trade data underestimates the competition between countries producing homogeneous goods, so that the weight of the effective exchange rates is too reliant on trade scale. Based on 2002 6-digit items of the Harmonized Commodity Description and Coding System, this paper employs the competitive stress index to adjust the weighting system of the renminbi NEER for third market competition. In the new weighting system, European countries and some emerging economies have higher weights compared with some of the developed countries, including the USA, Japan and resources-dominated eeonomies~ This research will facilitate the understanding of changes in China＇s export competitiveness.展开更多
Natural gas is expected to play a much more important role in China in future decades, and market reform is crucial for its rapid market penetration. At present, the main gas fields, pipelines and liquefied natural ga...Natural gas is expected to play a much more important role in China in future decades, and market reform is crucial for its rapid market penetration. At present, the main gas fields, pipelines and liquefied natural gas(LNG) infrastructure are mainly monopolized by large state-owned companies, and one of the important market reform policies is to open up LNG import rights to smaller private companies and traders. Therefore, in the present study, a game theoretical model is proposed to analyze and compare the impacts of different market structures on infrastructure deployment and social welfare. Moreover, a support vector machine-based rolling horizon stochastic method is adopted in the model to simulate real LNG price fluctuations. Four market reform scenarios are proposed considering different policies such as business separation, third-party access(TPA) and their combinations. The results indicate that, with third-party access(TPA)entrance into the LNG market, the construction of LNG infrastructure will be promoted and more gas will be provided at lower prices, and thus the total social welfare will be improved greatly.展开更多
基金financed by the National Social Science Fund"G20 and Global Governance"(11AGJ001)
文摘When measuring the nominal effective exchange rate （NEER）, three factors should be considered： direct import competition, direct export competition and third market competuion. The traditional NEER methodology using aggregated export trade data underestimates the competition between countries producing homogeneous goods, so that the weight of the effective exchange rates is too reliant on trade scale. Based on 2002 6-digit items of the Harmonized Commodity Description and Coding System, this paper employs the competitive stress index to adjust the weighting system of the renminbi NEER for third market competition. In the new weighting system, European countries and some emerging economies have higher weights compared with some of the developed countries, including the USA, Japan and resources-dominated eeonomies~ This research will facilitate the understanding of changes in China＇s export competitiveness.
基金financial support of the National Natural Science Foundation of China (Grant No. 71774171)Science Foundation of China University of Petroleum, Beijing (No. 2462017YB11)
文摘Natural gas is expected to play a much more important role in China in future decades, and market reform is crucial for its rapid market penetration. At present, the main gas fields, pipelines and liquefied natural gas(LNG) infrastructure are mainly monopolized by large state-owned companies, and one of the important market reform policies is to open up LNG import rights to smaller private companies and traders. Therefore, in the present study, a game theoretical model is proposed to analyze and compare the impacts of different market structures on infrastructure deployment and social welfare. Moreover, a support vector machine-based rolling horizon stochastic method is adopted in the model to simulate real LNG price fluctuations. Four market reform scenarios are proposed considering different policies such as business separation, third-party access(TPA) and their combinations. The results indicate that, with third-party access(TPA)entrance into the LNG market, the construction of LNG infrastructure will be promoted and more gas will be provided at lower prices, and thus the total social welfare will be improved greatly.
