Abstract:This paper employs the historical analysis and the reaction function method to conduct an empirical analysis of Chinas monetary policy in the framework of Taylor rule.By comparing the rule value with the actual value of the interest rate,we show that Taylor rule can provide a benchmark for measuring the stance of Chinas monetary policy.The actual value deviates from rule value when the policy operation lags behind the request of the development of economic situation.In such an unstable monetary policy regime,the generation and devleopment of inflation or deflation is of a self-fulfilling mechanism.Chinas monetary policy should be transformed from an unstable rule to a stable one.We should actively carry interest rate reform forward and set up the monetary policy regime with the interest rate of money market as the intermediate target.

Abstract:1Monetary policy has influence upon financial assets price,especially upon stock price.When the expansion of investment causes raw material and labor price increasing,the long-term outcome of expansionary monetary policy is that both commodity price and stock price increase.When the investment is characterized by scale effects and makes labor productivity increase notably,the long-term outcome of expansionary monetary policy is that the stock price increases while the commodity price decreases.Thus whether inflation happens is determined not only by the commodity and service price,but also by the stock price.2No matter how much the wealth effect of the stock market is,stimulating stock market by expansionary monetary policy in order to magnify aggregate demand is dangerous in the long run.we also find when the stock price deviates from its equilibrium farther and farther,the economic boom is vulnerable.

Abstract: By using two-step OLS method,this paper examines the effect of monetary policy on real output in China.The empirical results tend to reject the policy ineffectiveness propositionPIP.They show that both anticipated and unanticipated money affect output in contrast with the PIP.An asymmetry in the effects of monetary policy on output also was found to be statistically significant at 10%.The authors argue that the imperfect markets and the rigidity of prices account for the effectiveness of anticipated monetary policy on output in China.

Abstract:Based on the analysis of historical data at home and abroad and economic growth factors,this paper forecasts economic growth rates,GDP of both China and the first five largest countries of the world in respect of the economic aggregate and per capita GDP of China.The basic results are:Chinese GDP will exceed that of France in 2005,United Kingdom in 2006,Germany in 2012 and Japan in the middle of the 21 st century,and Chinese will become the second largest economic country at that time.But it is almost impossible for Chinese GDP to exceed that of United States in the 21 st century.The per capita GDP of China in 2050 will reach that of middle developed countries in 2000.

Abstract: This paper discusses the different methods to calculate the real economic time series of China and analyze their effects on seasonal adjustment.With the above method,we can obtain the seasonally adjusted series which are very similar to the real ones.Then the paper discusses the specific seasonal adjustment methods to several economic variables and gives some simple applications in the analysis and forecasting of the economic data.The key of the method is to adopt the regARIMA model,in order to estimate and adjust the effects of variation in working days,long holidays,and Spring Festival,etc.The paper also introduces a newer seasonal adjustment procedure,TRAMO/SEATS,as a side product and presents its principles and advantages.It is hoped that the procedure can be widely used from now on.

Abstract:Based on a brief review of the coordination of financial accounting standards with tax acts in China,this article first discussed the necessity of sharing corporate financial information which is related to tax administration,then empirically analyzed tentative coordinating methods by taking Lease/Loan Arrangements LLA as an example.This paper concludes that it is high time for researchers to focus their mind on corporate tax planning to perfect Chinas accounting standards in order to make it a supporting factor in taxing practice and thus strengthen the work of anti-tax avoidance in China.

Abstract:This study develops a real option approach to consider both competion and uncertainty in the process of modeling firms collaborative behavior and innovation network formation.It is shown that impatience resulted from intense competion is necessary for inter-firm cooperation in R&D activities which is just the opposite of the Folk Theorem in repeated game theory.And it explores a new model,the Probabilistic Temporal Network,for representing the innovation network formation which is oriented to maximizing value creation.The results are exemplified in the innovation networks of Silicon Valley.

Abstract:Through an empirical analysis of the difference in economic efficiency of SOE and township enterprise,the author deems that the reasons of making the economic efficiency difference are not the different character of property rights of material capital,but the different definition of the property rights of enterprisers human capital.The different definition of the property rights of enterprisershuman capital will bring about the difference of the residual claims and dominant rights,the operating decision rights,the form and the constrained mechanism,all those will lead to the efficiency of allocating the economic resources.

Abstract:This dissertation constructs a model of R&D-based endogenous growth with technology diffusion between developed countries and less developed countries through the different channels which are foreign direct investment and licensing in a global economy background.the main contribution of this model is that it provides a clear theoretical framework to consider policies on technology transfer to developing countries,based on assumption consistent with empirical observations.The main conclusion of this dissertation is that technology spills over to domestic industries more effectively by licensing than by FDI,a developing country relies on either FDI or licensing as its major source of technology transfer,moreover FDI is the choice without regulation and the level of human captial determines the optimal channel of technology import.

Abstract:This paper analyzes the characteristics and performance of internal labor market from the viewpoint of the economic theory of organization.It examines the important role of internal labor market in storing up human capital in firms and encouraging the long-term behavior of employees and firms.The paper also discusses the pre-requirement and the disadvantage of internal labor market,as well as the availability of labor market in China.

Abstract:Firstly,this paper pointed out that since 1990s,changes of industrial strucutre in the western region has been accelerating obviously,its level of specialization has been rising at some degree,its direction of changes is basically correct.However,competitive advantage of western industrial structure is still weaker,its comprehensive quality is still generally lower,and the gap between the western region and the eastern region has been enlarging.Secondly,This paper analyzed the causes and mechanism of variations of western industrial structure from the following fields:the acceleration of industrialization,the apperance of buyers market,the development of martekization and the reallocation of national industrial distribution.Finally,this paper pointed out that the changes in demand of domestic and international markets and the deepening of economic globalization bring new opportunities and challenges to the devleopment of western industries.