After briefly breaching 65 cents/lb, the December contract fell sharply over a few of days in mid-August before finding support near 58 cents/lb. In the weeks since, December futures have gradually drifted upwards,
The international community has taken extensive actions to achieve carbon neutrality and sustainable development with the intensification of global warming and climate change.China has also carried out a long-term lay...The international community has taken extensive actions to achieve carbon neutrality and sustainable development with the intensification of global warming and climate change.China has also carried out a long-term layout,setting the goal of achieving a carbon peak by 2030 and carbon neutrality by 2060.In 2021,with the official launch of a unified national carbon emissions trading market,China’s nationwide carbon emissions trading kicked off.Carbon emission trading is an important policy tool for China’s carbon peak and carbon-neutral action and an essential part of the country’s promotion of a comprehensive green transformation of the economy and society.This study uses a VAR(Vector Autoregressive)model to analyze the influencing factors of the Beijing carbon emissions trading price from January 2014 to December 2019.The study found that coal prices have the most significant impact on Beijing’s carbon emissions trading prices.Oil prices,industrial development indexes,and AQI(Air Quality Index)impacted Beijing’s carbon emissions trading prices.In contrast,natural gas prices and economic indexes have the most negligible impact.These findings will help decision-makers determine a reasonable price for carbon emissions trading and contribute to the market’s healthy development.展开更多
Using " chain-based and constant-based" two-step method,this paper measured Paasche net barter terms of trade index for SinoAustralian agricultural products from 2001 to 2013,and further calculated contribut...Using " chain-based and constant-based" two-step method,this paper measured Paasche net barter terms of trade index for SinoAustralian agricultural products from 2001 to 2013,and further calculated contribution of each category of agricultural products to changes in overall net barter terms of trade. The results showed that since 2001,the overall net barter terms of trade for Sino-Australian agricultural products fluctuated between deterioration and improvement. In 2013,the net barter terms of trade index was 1. 02,and its improvement is not significant. From 2001 to 2013,the net barter terms of trade for Sino-Australian agricultural products improved about 16. 44%,which dominated by the category 0 agricultural products whose influence degree is 6 times and 28 times the degree of category 4 and category 1. In years when the net barter terms of trade for Sino-Australian agricultural products deteriorated,category 2 agricultural products were the root cause for the deterioration.展开更多
The paper asserts that the misperceptions of noise traders are a behavioral bias characterized by overreactions. By introducing the overreaction coefficient, we provide an explanation for the volatility of asset price...The paper asserts that the misperceptions of noise traders are a behavioral bias characterized by overreactions. By introducing the overreaction coefficient, we provide an explanation for the volatility of asset prices and bubbles in a simplified framework that is similar to the DSSW （1990a） model. When the underlying asset is involved with a fundamental shock, noise traders will generally overreact to it, which creates an ＂overreaction risk＂. This kind of risk will make the asset prices more volatile, and even make up asset bubbles. Therefore, asset bubbles can be regarded as a psychological phenomenon, and are actually the results of the psychological changing process of noise traders.展开更多
On the occasion of the 40th anniversary of reform and opening up, China’s economic growth level has steadily risen and its international status has gradually improved. However, as the global economic downturn, China ...On the occasion of the 40th anniversary of reform and opening up, China’s economic growth level has steadily risen and its international status has gradually improved. However, as the global economic downturn, China is facing tremendous challenges and pressures in the international economic and financial markets. The turbulence of foreign trade and international financial markets has put forward greater requirements for the flexibility of China’s financial strategy. Based on the annual data of China’s total foreign trade, exchange rate, commodity retail price index and the proportion of tertiary industry from 2002 to 2017, this paper constructs a multiple regression model to analyze the main influencing factors of China’s total foreign trade. The empirical results show that there is a positive relationship between the commodities retail price index and the total foreign trade, a negative relationship between the proportion of tertiary industry and the total foreign trade, and a positive relationship between the exchange rate of RMB (taking US dollar as an example) and the total foreign trade. On the basis of empirical analysis, the paper puts forward suggestions on relevant financial policies.展开更多
为有效提高碳排放配额分配的合理性,并且避免年度结算时碳排放量超标导致环境污染加剧问题,提出基于奖惩因子的季节性碳交易机制,以园区综合能源系统(park integrated energy system,PIES)为对象进行低碳经济调度。首先,构建包含能量层...为有效提高碳排放配额分配的合理性,并且避免年度结算时碳排放量超标导致环境污染加剧问题,提出基于奖惩因子的季节性碳交易机制,以园区综合能源系统(park integrated energy system,PIES)为对象进行低碳经济调度。首先,构建包含能量层–碳流层–管理层的综合能源系统(integrated energy system,IES)运行框架,建立电气热多能流供需动态一致性模型;其次,分析系统内“日–季节–年度”碳排放特性,打破传统应用指标法的配额分配方法,采用灰色关联分析法建立碳排放配额分配模型,并基于奖惩阶梯碳价制定季节性碳交易机制;最后,以系统内全寿命周期运行成本及碳交易成本最小为目标,对执行季节性碳交易机制的PIES进行低碳经济调度,分析长时间尺度下季节性储能参与调度的减碳量。搭建IEEE 33节点电网5节点气网7节点热网的PIES,并基于多场景进行算例分析,验证此调度方法能够实现零碳经济运行,保证系统供能可靠性,为建立零碳园区奠定理论基础。展开更多
文摘After briefly breaching 65 cents/lb, the December contract fell sharply over a few of days in mid-August before finding support near 58 cents/lb. In the weeks since, December futures have gradually drifted upwards,
基金financially supported by the National Natural Sciences Foundation of China(NSFC-71672009.71972011).
文摘The international community has taken extensive actions to achieve carbon neutrality and sustainable development with the intensification of global warming and climate change.China has also carried out a long-term layout,setting the goal of achieving a carbon peak by 2030 and carbon neutrality by 2060.In 2021,with the official launch of a unified national carbon emissions trading market,China’s nationwide carbon emissions trading kicked off.Carbon emission trading is an important policy tool for China’s carbon peak and carbon-neutral action and an essential part of the country’s promotion of a comprehensive green transformation of the economy and society.This study uses a VAR(Vector Autoregressive)model to analyze the influencing factors of the Beijing carbon emissions trading price from January 2014 to December 2019.The study found that coal prices have the most significant impact on Beijing’s carbon emissions trading prices.Oil prices,industrial development indexes,and AQI(Air Quality Index)impacted Beijing’s carbon emissions trading prices.In contrast,natural gas prices and economic indexes have the most negligible impact.These findings will help decision-makers determine a reasonable price for carbon emissions trading and contribute to the market’s healthy development.
基金Supported by"Industrial Economic Research of National Technology System for Wool Sheep and Cashmere Goat Industries"of the Ministry of Agriculture and the Ministry of Finance(CARS-40-20)Chinese Universities Scientific Fund(2015RW007)
文摘Using " chain-based and constant-based" two-step method,this paper measured Paasche net barter terms of trade index for SinoAustralian agricultural products from 2001 to 2013,and further calculated contribution of each category of agricultural products to changes in overall net barter terms of trade. The results showed that since 2001,the overall net barter terms of trade for Sino-Australian agricultural products fluctuated between deterioration and improvement. In 2013,the net barter terms of trade index was 1. 02,and its improvement is not significant. From 2001 to 2013,the net barter terms of trade for Sino-Australian agricultural products improved about 16. 44%,which dominated by the category 0 agricultural products whose influence degree is 6 times and 28 times the degree of category 4 and category 1. In years when the net barter terms of trade for Sino-Australian agricultural products deteriorated,category 2 agricultural products were the root cause for the deterioration.
文摘The paper asserts that the misperceptions of noise traders are a behavioral bias characterized by overreactions. By introducing the overreaction coefficient, we provide an explanation for the volatility of asset prices and bubbles in a simplified framework that is similar to the DSSW （1990a） model. When the underlying asset is involved with a fundamental shock, noise traders will generally overreact to it, which creates an ＂overreaction risk＂. This kind of risk will make the asset prices more volatile, and even make up asset bubbles. Therefore, asset bubbles can be regarded as a psychological phenomenon, and are actually the results of the psychological changing process of noise traders.
文摘On the occasion of the 40th anniversary of reform and opening up, China’s economic growth level has steadily risen and its international status has gradually improved. However, as the global economic downturn, China is facing tremendous challenges and pressures in the international economic and financial markets. The turbulence of foreign trade and international financial markets has put forward greater requirements for the flexibility of China’s financial strategy. Based on the annual data of China’s total foreign trade, exchange rate, commodity retail price index and the proportion of tertiary industry from 2002 to 2017, this paper constructs a multiple regression model to analyze the main influencing factors of China’s total foreign trade. The empirical results show that there is a positive relationship between the commodities retail price index and the total foreign trade, a negative relationship between the proportion of tertiary industry and the total foreign trade, and a positive relationship between the exchange rate of RMB (taking US dollar as an example) and the total foreign trade. On the basis of empirical analysis, the paper puts forward suggestions on relevant financial policies.
文摘为有效提高碳排放配额分配的合理性,并且避免年度结算时碳排放量超标导致环境污染加剧问题,提出基于奖惩因子的季节性碳交易机制,以园区综合能源系统(park integrated energy system,PIES)为对象进行低碳经济调度。首先,构建包含能量层–碳流层–管理层的综合能源系统(integrated energy system,IES)运行框架,建立电气热多能流供需动态一致性模型;其次,分析系统内“日–季节–年度”碳排放特性,打破传统应用指标法的配额分配方法,采用灰色关联分析法建立碳排放配额分配模型,并基于奖惩阶梯碳价制定季节性碳交易机制;最后,以系统内全寿命周期运行成本及碳交易成本最小为目标,对执行季节性碳交易机制的PIES进行低碳经济调度,分析长时间尺度下季节性储能参与调度的减碳量。搭建IEEE 33节点电网5节点气网7节点热网的PIES,并基于多场景进行算例分析,验证此调度方法能够实现零碳经济运行,保证系统供能可靠性,为建立零碳园区奠定理论基础。
