LOG-PERIODOGRAM ESTIMATION OF LONG MEMORY VOLATILITY DEPENDENCIES WITH CONDITIONALLY HEAVY TAILED RETURNS

Many recent papers have used semiparametric methods, especially the log-periodogram regression, to detect and estimate long memory in the volatility of asset returns. In these papers, the volatility is proxied by measures such as squared, log-squared, and absolute returns. While the evidence for the existence of long memory is strong using any of these measures, the actual long memory parameter estimates can be sensitive to which measure is used. In Monte-Carlo simulations, I find that if the data is conditionally leptokurtic, the log-periodogram regression estimator using squared returns has a large downward bias, which is avoided by using other volatility measures. In United States stock return data, I find that squared returns give much lower estimates of the long memory parameter than the alternative volatility measures, which is consistent with the simulation results. I conclude that researchers should avoid using the squared returns in the semiparametric estimation of long memory volatility dependencies.     

论发达地区农村社会阶层结构的变迁——以绍兴县西蜀阜村为例

此文以绍兴县西蜀阜村为例,基于对大量翔实资料的实证分析,阐述和探讨了经济发达的农村社区在农村工业化和城市化过程中,村落社会结构分化的历史进程、决定因素和现实状况,探讨了阶层分化与农村社会经济变迁的关系,对深化沿海发达地区中心镇村现代化进程的认识,有一定的借鉴意义。     

和谐社会构建中的利益表达与利益协调

我国正处在一个社会转型的时代,利益关系格局也发生了一定的变化,产生了利益分化和重组。在这个利益分化的时代,中国的经济利益关系格局出现了经济利益主体多元化、经济利益来源多样化、经济利益差距扩大化和经济利益关系复杂化等新的特征。对此,我们必须正视问题,应特别注意利益表达机制的构建并进行合理的利益协调,充分发挥市场、政府和利益集团的作用,只有这样才能构建一个和谐的社会。     

论和谐社会主导意义系统的构建

每个社会都需要一个主导意义系统，它作为一条精神纽带，是一个民族赖以生存和发展的思想基础和精神动力。随着社会经济的发展，中西文化的相互交流与渗透，长期以来一直作为中国传统社会主导意义系统的儒家思想亦由精神领航员的地位转而滑向边缘。社会主导意义系统的衰落，导致了人们精神世界的无序和混乱。重构社会主导意义系统，促进精神世界的和谐就成为了构建社会主义和谐社会的重要组成部分。     

企业在和谐社会中社会责任建设的辩证思考

企业社会责任已经成为构建和谐社会的重要精神元素之一。加强企业在和谐社会中社会责任的建设需要企业、政府和公众三方面的配合。     

社会主义和谐社会的政治伦理意义探讨

政治伦理及其规范对社会政治关系及其派生关系中"善"与"恶"的认知、建立,政治伦理及其规范内含的制度伦理意义、"实践精神",以及我们党加强政治伦理建设的自觉意识和对政治主体、政治行为者的引导、内化和约束作用,对于当前构建社会主义和谐社会具有重要价值和现实意义.     

区域经济一体化对世界福利及多边贸易体制的影响

随着经济的全球化,在以GATT和WTO为代表的多边贸易自由化不断深化的同时,区域经济一体化组织层出不穷。而区域经济一体化对于世界福利和多边贸易是有利有弊的。因此,在政策制定上要扬长避短,既限制其不利的影响,同时又要积极发挥它的积极作用。     

Do Lets Work?

This study aims to uncover some of the reasons for differences in attitudes towards family‐friendly and equal opportunities (EO) policies for women between senior and junior staff and between male and female staff. This in‐depth case study of a multi‐national corporation in Hong Kong that included a survey questionnaire, interviews and participant observation suggests four categories of female employees according to their approach to EO: advocators, supporters, outsiders and rejecters. The approach adopted was dependent on the woman's level of empathy towards the situation of working women and the extent of her career ambition. Four categories of male employees can also be classified depending on their level of empathy towards women's situation (similar to women's case) and their extent of career satisfaction (in contrast to women's career ambition), namely, antagonists, outsiders, fence‐sitters and sympathizers. Women at higher levels were less supportive of EO than women at lower levels. No such clear relationship between organizational level and attitudes towards EO was observed among men. In Hong Kong, female managers had little expectation that their organization would be family‐friendly and women workers who consciously chose to balance work and family accepted that it meant fewer promotional chances. No such self‐adjusted depressed ambition was observed among men.     

和谐发展:“人的全面发展”理论的时代主题

在专业、集约化生产越来越发达的条件下,人的全面发展如何可能?马克思"人的全面发展"理论的深层旨趣不仅仅是指能力的发展,更是追求社会的和谐.针对资本主义早期发展阶段劳动异化的状况,马克思主义经典作家强调变革旧的生产关系,促进人的发展.在现代化向纵深发展的当今时代,人的和谐发展则成为"人的全面发展"理论的主题.     

和谐社会视野中的大学建设

构建社会主义和谐社会思想的提出为新时期大学建设赋予了新的内涵,为大学内部管理体制改革提出了更高要求,为大学内部民主和法治建设指明了方向。在和谐社会思想指导下,加强和谐大学建设,是大学改革与发展的重要任务。