Using VAR-DCC-GARCH model,the literature on commodity price was extended by exploring the co-movement between Chinese nonferrous metal prices and global nonferrous metal prices represented by the nonferrous metal pric...Using VAR-DCC-GARCH model,the literature on commodity price was extended by exploring the co-movement between Chinese nonferrous metal prices and global nonferrous metal prices represented by the nonferrous metal prices from London Metal Exchange(LME).The results show that LME nonferrous metals prices still have a greater impact on Chinese nonferrous metals prices.However,the impact of Chinese nonferrous metals prices on LME nonferrous metals prices is still weak except for lead price.The co-movement of nonferrous metal prices between LME and China presents hysteretic nature,and it lasts for 7-8trading days.Furthermore,the co-movement between LME nonferrous metals prices and Chinese nonferrous metals prices has the characteristics of time-varying,and the correlation of lead prices between LME and China is the more stable than all other nonferrous metals prices.展开更多
Coal is the principal form of energy used in China. Hence, coal price variations are expected to have some influence on merchandise prices. Monthly data from January, 2002, to October, 2010, were used to construct a v...Coal is the principal form of energy used in China. Hence, coal price variations are expected to have some influence on merchandise prices. Monthly data from January, 2002, to October, 2010, were used to construct a varying-parameter state space model, and an error correction model, to estimate the influence of coat prices on Chinese merchandise prices. The time lag and the dynamic relationship were determined from the data. A long term equilibrium relationship between coal price and the PPI, and the CPI, can be observed. The long term influence of coal price fluctuations on the PPI is 0.263%. The corresponding value for the CPI is 0.157%. The PPI shows an influence from coal price change in the first period of observation： by eight periods the influence is obvious, after which it diminishes. The effect of coal price change on the CPI is rather weak and has no long term memory. Analysis of variance shows a similar situation. The elas- ticity coefficient of coal prices on the CPI, or the PPI, fluctuates over the 2002-2004 period. From 2002 to 2007 the influence elasticity on the CPI declined and subsequently levelled off after 2009.展开更多
Based on the Ramsey theory-the foundation for the tiered electricity pricing mechanism, this article analyzes the effects of the tiered electricity pricing system on social justice, eff iciency and commodity prices, a...Based on the Ramsey theory-the foundation for the tiered electricity pricing mechanism, this article analyzes the effects of the tiered electricity pricing system on social justice, eff iciency and commodity prices, and concludes that the system would direct subsidies to flow into low income groups, and promote energy conservation and emissions reduction by restricting over-consumption of high income groups, without enormous effect on commodity prices. The key to designing the tiered system is how to estimate the amount of electricity use for each tier, so as to avoid excluding low income groups from the subsidy or including high income groups in the subsidy.展开更多
This paper has developed a measurement approach that integrates price with the product technical content initiated by Lall et al.(2006),i.e.,dividing HS6-quantile products into high-end,middle-end and low-end levels t...This paper has developed a measurement approach that integrates price with the product technical content initiated by Lall et al.(2006),i.e.,dividing HS6-quantile products into high-end,middle-end and low-end levels through the quantile ranking of prices of the same product from different countries or regions in a target market.Our estimation has discovered that due to the lack of product price differentiation,traditional method for the measurement of product technical content overestimated technical content of the low-end segment in the same category of products while underestimated technical content of the high-end segment in the same category of products.Re-calculation based on Rodric's result indicates that specialness of Chinese exports is mainly reflected by high-end and middle-end products.In addition,the competition result of the sophistication of Chinese exports indicates that since the middle of the 1990 s,the sophistication of Chinese exports has remained relatively low compared with the average level of the world and developing countries;from an economic perspective,improvement in the sophistication of Chinese exports primarily derived from middle-end and low-end products;from a category-specific perspective,improvement in the sophistication of Chinese exports primarily derived from low-technology export products.展开更多
On January 21,the 13th Annual China Textile Roundtable,"Shuyang Cup"·The 6th China Textile News Award Ceremony,and the First Award Ceremony of the Qualified Enterprises for the Review of the Quality Awa...On January 21,the 13th Annual China Textile Roundtable,"Shuyang Cup"·The 6th China Textile News Award Ceremony,and the First Award Ceremony of the Qualified Enterprises for the Review of the Quality Awards of the National Textile Industry were held in Beijing.展开更多
August consumer price ndex （CPI） data has spurred heated debate on whether China is experiencing inflation. A CPI increase of 5.6% is an uncomfortable level for any major economy. In the US, the core line is set a...August consumer price ndex （CPI） data has spurred heated debate on whether China is experiencing inflation. A CPI increase of 5.6% is an uncomfortable level for any major economy. In the US, the core line is set at 2.5%, and in Europe it is 2%.展开更多
基金Project(71073177)supported by the National Natural Science Foundation of ChinaProject(12JJ4077)supported by the Natural Science Foundation of Hunan Province of ChinaProject(2012zzts002)supported by the Fundamental Research Funds of Central South University,China
文摘Using VAR-DCC-GARCH model,the literature on commodity price was extended by exploring the co-movement between Chinese nonferrous metal prices and global nonferrous metal prices represented by the nonferrous metal prices from London Metal Exchange(LME).The results show that LME nonferrous metals prices still have a greater impact on Chinese nonferrous metals prices.However,the impact of Chinese nonferrous metals prices on LME nonferrous metals prices is still weak except for lead price.The co-movement of nonferrous metal prices between LME and China presents hysteretic nature,and it lasts for 7-8trading days.Furthermore,the co-movement between LME nonferrous metals prices and Chinese nonferrous metals prices has the characteristics of time-varying,and the correlation of lead prices between LME and China is the more stable than all other nonferrous metals prices.
基金support for this work, provided by the National Natural Science Foundation of China (No. 71003097)Jiangsu Province Social Science Foundation (No. 10EYD025)2008 China University of Mining and Technology Youth Foundation Program (No.2008W04)
文摘Coal is the principal form of energy used in China. Hence, coal price variations are expected to have some influence on merchandise prices. Monthly data from January, 2002, to October, 2010, were used to construct a varying-parameter state space model, and an error correction model, to estimate the influence of coat prices on Chinese merchandise prices. The time lag and the dynamic relationship were determined from the data. A long term equilibrium relationship between coal price and the PPI, and the CPI, can be observed. The long term influence of coal price fluctuations on the PPI is 0.263%. The corresponding value for the CPI is 0.157%. The PPI shows an influence from coal price change in the first period of observation： by eight periods the influence is obvious, after which it diminishes. The effect of coal price change on the CPI is rather weak and has no long term memory. Analysis of variance shows a similar situation. The elas- ticity coefficient of coal prices on the CPI, or the PPI, fluctuates over the 2002-2004 period. From 2002 to 2007 the influence elasticity on the CPI declined and subsequently levelled off after 2009.
文摘Based on the Ramsey theory-the foundation for the tiered electricity pricing mechanism, this article analyzes the effects of the tiered electricity pricing system on social justice, eff iciency and commodity prices, and concludes that the system would direct subsidies to flow into low income groups, and promote energy conservation and emissions reduction by restricting over-consumption of high income groups, without enormous effect on commodity prices. The key to designing the tiered system is how to estimate the amount of electricity use for each tier, so as to avoid excluding low income groups from the subsidy or including high income groups in the subsidy.
基金an outcome of annual program under the Fundamental Research Funds for the Centrally-Administered Universities(Approval No.JBK130936)Research on the Upgrade Mechanism of Chinese Export Productssponsored by the Fundamental Research Funds for the Centrally-Administered Universitiesa contribution to the Third China Trade Research Group(CTRG) Conference
文摘This paper has developed a measurement approach that integrates price with the product technical content initiated by Lall et al.(2006),i.e.,dividing HS6-quantile products into high-end,middle-end and low-end levels through the quantile ranking of prices of the same product from different countries or regions in a target market.Our estimation has discovered that due to the lack of product price differentiation,traditional method for the measurement of product technical content overestimated technical content of the low-end segment in the same category of products while underestimated technical content of the high-end segment in the same category of products.Re-calculation based on Rodric's result indicates that specialness of Chinese exports is mainly reflected by high-end and middle-end products.In addition,the competition result of the sophistication of Chinese exports indicates that since the middle of the 1990 s,the sophistication of Chinese exports has remained relatively low compared with the average level of the world and developing countries;from an economic perspective,improvement in the sophistication of Chinese exports primarily derived from middle-end and low-end products;from a category-specific perspective,improvement in the sophistication of Chinese exports primarily derived from low-technology export products.
文摘On January 21,the 13th Annual China Textile Roundtable,"Shuyang Cup"·The 6th China Textile News Award Ceremony,and the First Award Ceremony of the Qualified Enterprises for the Review of the Quality Awards of the National Textile Industry were held in Beijing.
文摘August consumer price ndex （CPI） data has spurred heated debate on whether China is experiencing inflation. A CPI increase of 5.6% is an uncomfortable level for any major economy. In the US, the core line is set at 2.5%, and in Europe it is 2%.
