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
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
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,
APEC faces many obstacles in establishing an Asia-Pacific free trade area Twenty-one years after its founding,the Asia Pacific Economic Cooperation(APEC)is facing major
The EU hesitates over changing China＇s economic statusThe European Commission（EC）will discuss the issue of granting market economy status（MES）to China throughout 2016.On January 13,the EC had the first orientatio...The EU hesitates over changing China＇s economic statusThe European Commission（EC）will discuss the issue of granting market economy status（MES）to China throughout 2016.On January 13,the EC had the first orientation debate on whether,and if so how,展开更多
In commemoration of the 15th anniversary of China’s accession to the WTO,Beijing Review reporter Deng Yaqing interviewed Xue Rongjiu,Vice Chairman of China Society for WTO Studies,on China’s gains from and contribut...In commemoration of the 15th anniversary of China’s accession to the WTO,Beijing Review reporter Deng Yaqing interviewed Xue Rongjiu,Vice Chairman of China Society for WTO Studies,on China’s gains from and contributions to the multilateral trading system,market economy status,surrogate country issues and mounting anti-globalization and trade protection.Edited excerpts of the interview follow:展开更多
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.
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,
文摘APEC faces many obstacles in establishing an Asia-Pacific free trade area Twenty-one years after its founding,the Asia Pacific Economic Cooperation(APEC)is facing major
文摘The EU hesitates over changing China＇s economic statusThe European Commission（EC）will discuss the issue of granting market economy status（MES）to China throughout 2016.On January 13,the EC had the first orientation debate on whether,and if so how,
文摘In commemoration of the 15th anniversary of China’s accession to the WTO,Beijing Review reporter Deng Yaqing interviewed Xue Rongjiu,Vice Chairman of China Society for WTO Studies,on China’s gains from and contributions to the multilateral trading system,market economy status,surrogate country issues and mounting anti-globalization and trade protection.Edited excerpts of the interview follow:
