Taking cadmium pollution in X River as an example, the interaction between National People＇s Congress and local government was de- scribed. How the local government transforms its role in environment protection with ...Taking cadmium pollution in X River as an example, the interaction between National People＇s Congress and local government was de- scribed. How the local government transforms its role in environment protection with the help of several deputies to National People＇s Congress was expounded from the angle of social construction, which also enlightened the way to build an environment protection road with Chinese characteristics.展开更多
In the present paper, we model the policy stance of the People＇s Bank of China （PBC） as a latent variable, and the discrete changes in the reserve requirement ratio, policy interest rates, and the scale of open mar...In the present paper, we model the policy stance of the People＇s Bank of China （PBC） as a latent variable, and the discrete changes in the reserve requirement ratio, policy interest rates, and the scale of open market operations are taken as signals of movement of this latent variable. We run a discrete choice regression that relates these observed indicators of policy stance to major trends of macroeconomic and financial developments, which are represented by common factors extracted from a large number of variables. The predicted value of the estimated model can then be interpreted as the implicit policy stance of the PBC. In a second step, we estimate how much of the variation in the PBC＇ s implicit stance can be explained by measures of its policy objectives on inflation, growth and financial stability. We find that deviations of CPI inflation from an implicit target and deviations of broad money growth from the announced targets, but not output gaps, figure significantly in the PBC＇s policy changes.展开更多
This article analyses Chinese traditional evidence theories that have evolved over a long period of time, to explore which theory, between objectivity and relevancy, best represents the basic attribute and logical thr...This article analyses Chinese traditional evidence theories that have evolved over a long period of time, to explore which theory, between objectivity and relevancy, best represents the basic attribute and logical thread of evidence. These theories are considered in the context of issues arising in evidential adjudication, including： the ＂Mirror of Evidence,＂ truth, the probability of proof standard, the choice between a notion of pursuing 100-percent certainty in adjudication and that wrongful acquittals are better than wrongful convictions, and the statutory proof doctrine comparedwith the system of free proof. Finally, the article presents the framework of and methods for drafting provisions of procedural evidence of the People＇s Court.展开更多
How can we fit different monetary transmission channels together to understand the effect of China＇s monetary policy？ This paper focuses on China＇s monetary conditions and aggregate demand in terms of the monetary ...How can we fit different monetary transmission channels together to understand the effect of China＇s monetary policy？ This paper focuses on China＇s monetary conditions and aggregate demand in terms of the monetary conditions index （MCI）, which has been widely used as an important indicator for central banks, financial institutions, and scholars. To construct an MCI in the context of China over 1987Q1-2010Q2, we consider three channels through which monetary conditions might influence aggregate demand： the primary lending rate, the real effective exchange rate, and the bank credit. The weights of the component variables are obtained by estimating both the IS equation and the vector autoregressive model （VAR）, which yield somewhat similar results. Further empirical tests show that the MCIs we derived contain useful information about future output growth and inflation in China over the short and medium term. From a historical perspective, the MCI we derived is more informative than individual monetary variables for the understanding of the development of China＇s monetary conditions between 1987 and 2010.展开更多
基金Supported by Particular Fund for Scientific Research in Universities
文摘Taking cadmium pollution in X River as an example, the interaction between National People＇s Congress and local government was de- scribed. How the local government transforms its role in environment protection with the help of several deputies to National People＇s Congress was expounded from the angle of social construction, which also enlightened the way to build an environment protection road with Chinese characteristics.
文摘In the present paper, we model the policy stance of the People＇s Bank of China （PBC） as a latent variable, and the discrete changes in the reserve requirement ratio, policy interest rates, and the scale of open market operations are taken as signals of movement of this latent variable. We run a discrete choice regression that relates these observed indicators of policy stance to major trends of macroeconomic and financial developments, which are represented by common factors extracted from a large number of variables. The predicted value of the estimated model can then be interpreted as the implicit policy stance of the PBC. In a second step, we estimate how much of the variation in the PBC＇ s implicit stance can be explained by measures of its policy objectives on inflation, growth and financial stability. We find that deviations of CPI inflation from an implicit target and deviations of broad money growth from the announced targets, but not output gaps, figure significantly in the PBC＇s policy changes.
基金This article is funded by the Major Program of National Natural Science Foundation of China titled ＂Research on Models of Evidence Evaluation and Their Application Based on Management and Forensic Decisions＂ （Program NO. 71371188）. We thank Prof. David R. A. Caruso at University of Adelaide, Australia for his helpful comments on the article.
文摘This article analyses Chinese traditional evidence theories that have evolved over a long period of time, to explore which theory, between objectivity and relevancy, best represents the basic attribute and logical thread of evidence. These theories are considered in the context of issues arising in evidential adjudication, including： the ＂Mirror of Evidence,＂ truth, the probability of proof standard, the choice between a notion of pursuing 100-percent certainty in adjudication and that wrongful acquittals are better than wrongful convictions, and the statutory proof doctrine comparedwith the system of free proof. Finally, the article presents the framework of and methods for drafting provisions of procedural evidence of the People＇s Court.
文摘How can we fit different monetary transmission channels together to understand the effect of China＇s monetary policy？ This paper focuses on China＇s monetary conditions and aggregate demand in terms of the monetary conditions index （MCI）, which has been widely used as an important indicator for central banks, financial institutions, and scholars. To construct an MCI in the context of China over 1987Q1-2010Q2, we consider three channels through which monetary conditions might influence aggregate demand： the primary lending rate, the real effective exchange rate, and the bank credit. The weights of the component variables are obtained by estimating both the IS equation and the vector autoregressive model （VAR）, which yield somewhat similar results. Further empirical tests show that the MCIs we derived contain useful information about future output growth and inflation in China over the short and medium term. From a historical perspective, the MCI we derived is more informative than individual monetary variables for the understanding of the development of China＇s monetary conditions between 1987 and 2010.
