Abstract:The derivation of aggregate supply curve is one of the most important parts of macroeconomics. In most macroeconomic models, in deriving the aggregate supply curve, aggregation problem is not dealt with explicitly. It is assumed that aggregate supply is simply a summation of supplies by individual enterprises or a multiplication of the supply of output by the representative enterprise. However, in reality,each enterprise is different. Only under strict conditions, can the behavior of the representative firm be used to represent the aggregate behavior of the economy as a whole. Taking into consideration Chinas institutional characteristics and dealing with aggregation problem explicitly, the paper developed a method to derive aggregate supply curve by assuming enterprises in the economy follow certain statistic distribution in terms of labor productivity and then integrating outputs of all enterprises at each price level. The aggregate supply curve thus derived posses many new characteristics not included in traditional aggregate supply curves. It is hoped that the paper may contribute to the study of a relatively untouched but very important area that lies between microeconomic foundation and macroeconomic superstructure.

Abstract:A large part of the literature on provicial inequality in China has found it necessary to include regional dummies in the provincial growth regressions.A smaller but vocal part of the literature has emphasized the granting of preferential policies to explain the faster growth of the coastal provinces.We replace the regional dummies with a measure of the ability to participate in international trade Geography,and a preferential policy index Policy.We find that Geography and Plicy had about equal influence on coastal growth.Geography affected growth with a much loger lag than Plicy,howerver.The policy index was highest for the metropolises Beijing,Shanghai,and Tianjin,and lowest for the central and northwestern provinces.The preferential policies are to a large extent“deregulation policies”that enabled marketisation and internationalization of the coastal economies,and allowed them to become more like their East Asian neighbors.The weak support for conditional convergence is in line with the existence of institutions that retard the income convergence process generated by the movement of labor and capital,and by the Stopler-Samuelson mechanism.The household registration system ties the peasants to the land,the monopoly state bank system favors borrowing by state enterprises,and local protectionism reduces inter-provincial trade.Clearly,these institutions need to be deregulated.An effective strategy to develop the western provinces must therefore encompass physical capital formation,human capital formation,and institutional capital formation.

Abstract:To answer whether Chinas comparative advantage has been utilized through regional specialization since the reform is critical not only for assessing the unique gradual approach of Chinas reform but also for prospecting the performance and competitive advantage of the Chinese economy. By theoretically exploring the logic of gradual reform and empirically examining the trends of specialization in the economy as a whole, its industry and agriculture, this paper suggests that further reducing distortions in commodity markets and production factors markets will make the Chinese economy more competitive in the era of WTO.

Abstract:Controversy has all along surrounded the utilization of capital from multinationals in China in terms of the possibility of their monopolizing the market. This paper will analysis the competing behavior of multinational-invested enterprises, with the auto, telecommunication equipment and detergent industries as the cases studied in details. The major findings is that behavior of multinational-invested enterprises have been in Transition from Monopoly to Competition due to the deeper reform and open up of Chinese Economy and consequently, contributed to the formation of the competing market structure in many industries.

Abstract:Investment fund as a new financial system has gained rapid development worldwide , especially in the Europe and US since the end of 20 th century ,and begun to play an increasingly important role in financial system. Its rapid development has not only essentially transformed the traditional financial system and structure, but also become the key factor in the evolution of future global financial pattern. So, an international debate on whether a investment fund system will replace commercial bank system arises. Based on the functional view of financial system, the paper discusses respectively commercial bank system and investment fund system ,and conducts a thorough comparative research on the development trend and prospect of these two systems. The article concludes that in a relative long time, the relationship between investment fund system and commercial bank system is complementary, but not substitutional; also, the article proposes concrete suggestions about how to establish the win-win relationship between Chinese commercial bank and investment fund.

Abstract:This paper discusses the reasons why the energy consumption decreased gradually while Chinese economy has sustained a continuously high rate of annual growth. The data analyses prove that improvement of energy consumption efficiency are obvious since 1978, Which different from some domestic and overseas scholars viewpoints. Opening to the World, adjusment of industrial structure and reforming on economic systems contribute to improvement of energy consumption efficiency. After the middle of 1990s, except the industrial structures, above factors had positive impacts on the energy consumption efficiency. However, the enhancement of the energy consumption efficiency in industry has offset counteraction of the industrial structures change that tend to slow improvement of energy consumption efficiency to a certain extent.

Abstract:That community research of economics is different from sociology. Community is a region social in sociology. Based on the assumption that human nature is social man, all the various social phenomenon and essence regular are revealed in sociology. The goal of this research method is to realize the whole society regular. In modern economics, Community is regarded as an organization that is able to increase common benefit, and also is micro-subject in socio-economic systems. In this article, the assumption of logical thinking is rational economic-man and environment property. The logical of community origin and community changes was expounded. That self-interest man how to form community organization of common benefit was displayed, and complicated community problem was explained in economics theory. For this purpose, rural community is chosen to carry out the empirical analysis, the methodology and theory of modern economics was applied to later analysis. The model of community origin and changes was structured. The variable system was concluded that described and revealed the essence of the community by applying the model.

Abstract:Corporate diversification is very controversial in the theoretic and empirical literature. The co-authors developed a model investigating the dynamic value-maximizing process revolving around this notion of firm idiosyncrasy and unified the arguments around diversification. The empirical study of the changes of excessive value and performance of 379 Chinese listed companies during 1998—2000 reveals that diversification is neutral, which is consistent with the conclusion of the model. The study also shows that the form and frontier of diversification do have correlations with the changes of the excessive value and performance.

Abstract:from 2002, except for that listed companies of high-tech and the west area, local government cant return income taxes to listed companies. Income taxes act will be reformed after entry of WTO. Policy maker concern the practical issue,such as when legal tax rate of listed companies wukk change, how much effective tax rate will change In the paper, we first analyze the situation of performing legal tax rate from 1994 to 2000. Secondly, we test 186 listed companies and find that when legal tax rate changes 1, effective tax rate only changes 0.502, and we find the similar results from grouping and dividing by year test.

Abstract:In Last twenty years, auction theory has been among the most successful branches of economics. As a result,great theoretical, practical and empirical importance has been attached to it. In China, the government and private sectors are increasingly applying auction mechanism to selling or purchasing items. However, domestic practitioners and economists are still quite unfamiliar with the core of this field. In this paper, starting with the benchmark model and revenue equivalence theorem, I present the major progress in auction theory and outline its prospect. This survey centers round the performance of various auction mechanisms and optimal mechanism design. Finally, brief remarks are made on this frontier.