| 不完全信息下基于价格信号的投资博奕模型 |
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| 引用本文： | 孔灵柱,张屹山. 不完全信息下基于价格信号的投资博奕模型[J]. 湖南农业大学学报(自然科学版), 2011, 0(3): 13-16 |
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| 作者姓名： | 孔灵柱 张屹山 |
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| 作者单位： | （湖南大学 岳麓书院，湖南 长沙410082） |
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| 摘 要： | 《公羊传》“子以其指”一句含义如何，学界素有争论。或附会以天地五行之数，或坐实为残指、骈指、小指。然揆之以理，皆有未惬。邾人此言，实与立嗣原则密切相关，读者宜从屈指而数以计长幼的层面上去理解。唯有如此，邾人答辞方称结构对称、语义明朗，《公羊》纪事方称自守法度、与《左》无违。
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| 关 键 词： | 公羊传；貜且；接菑；子以其指；孔广森；王闿运 |
The Investor's Game Based on Price Signal under Incomplete Information |
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| KONG Ling -zhu,ZHANG Yi -shan. The Investor's Game Based on Price Signal under Incomplete Information[J]. Journal of Hunan Agricultural University, 2011, 0(3): 13-16 |
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| Authors: | KONG Ling -zhu ZHANG Yi -shan |
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| Affiliation: | (1.Finance and Statistics College, Hunan University, Changsha Hunan410079, China;2.Two-Way Innovation Platform, Hunan University, Changsha Hunan410079, China) |
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| Abstract: | The effect factors of the balance of payments and the scale of illegal capital flow have been analyzed by the monthly data from 203 to 2009. The results show that China''s trade balance is significantly related with the expectation of RMB appreciation after controlling the movement of real effective exchange rate and abroad market demand; the illegal capital flow in and the change of abroad market demand which are led by the expectation of RMB appreciation cause the change of trade balance in China; if the effects of illegal capital flow and abroad market demand are excluded, the trade balance would be negatively related with the real effective exchange rate of RMB. |
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| Keywords: | The puzzle of China''s trade surplus The real effective exchange rate of RMB Illegal capital flows Balance of payments Trade balance |
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