Economists have recently become interested in weighting how much domestic value-added is actually included in China＇ s exports. Formally, the proportion of foreign and domestic contents could be identified by calcula...Economists have recently become interested in weighting how much domestic value-added is actually included in China＇ s exports. Formally, the proportion of foreign and domestic contents could be identified by calculating the vertical specialization share using noncompetitive input-output tables. Applying such a method to the Chinese case, however, would result in a big measurement bias because China has a large share of processing exports, which utilize a disproportionately high percentage of imported intermediates. This paper, by directly employing 2008 trade data for which imported intermediates in both processing and non-processing trade could be identified by means of various trade patterns, provides a simplified way to estimate the share of foreign/domestic value-added included in industry-level manufactured exports. This paper finds that the vertical specialization share of China＇ s processing exports was about 56 percent in 2008, compared to about 10 percent for ordinary exports. It also finds that the sectors that experienced fast expansion of processing exports have a much higher share of foreign contents. Since processing exports accoant for about half of Chinese exports, the prevailing trade statistics, which focus on gross values rather than the value-added of exports and imports, has obviously overstated the bilateral trade imbalances, especially between China and the USA.展开更多
Investing on value-added service （VAS） amplifies users＇ participation and platform profit. However, the investing resource is usually limited in practice. This paper investigates VAS investing and pricing strategie...Investing on value-added service （VAS） amplifies users＇ participation and platform profit. However, the investing resource is usually limited in practice. This paper investigates VAS investing and pricing strategies for a two-sided platform under investing resource constraint. We reveal that with VAS investment, Subsidizing can still be done to enlarge users＇ demand, even when the investing cost becomes higher. For optimal pricing strategies, the network effect will be the dominating determinant if the gap between two marginal cross-side benefits （i.e. the benefit that users obtain when each new user join the other side of the platform） is large. Interestingly, we show that with the increase of the marginal investing cost, users might either be priced higher or lower. If the marginal investing cost increases to a high level, and the gap between the two marginal cross-side benefits is large, lowering the access fee for users possessing the higher eross-side network effect does not necessarily compensate more profit loss caused by higher cost. Moreover, after VAS is developed, raising the access fee for those whose marginal investing benefit is large does not necessarily generate more profit as well. The opposite strategy further enlarges users＇ utility, and promotes the investment to benefit more users.展开更多
Electrochemical CO_(2) reduction reaction(CO_(2)RR)is an attractive pathway for closing the anthropogenic carbon cycle and storing intermittent renewable energy by converting CO_(2) to valuable chemicals and fuels.The...Electrochemical CO_(2) reduction reaction(CO_(2)RR)is an attractive pathway for closing the anthropogenic carbon cycle and storing intermittent renewable energy by converting CO_(2) to valuable chemicals and fuels.The production of highly reduced carbon compounds beyond CO and formate,such as hydrocarbon and oxygenate products with higher energy density,is particularly desirable for practical applications.However,the productivity towards highly reduced chemicals is typically limited by high overpotential and poor selectivity due to the multiple electron-proton transfer steps.Tandem catalysis,which is extensively utilized by nature for producing biological macromolecules with multiple enzymes via coupled reaction steps,represents a promising strategy for enhancing the CO_(2)RR performance.Improving the efficiency of CO_(2)RR via tandem catalysis has recently emerged as an exciting research frontier and achieved significant advances.Here we describe the general principles and also considerations for designing tandem catalysis for CO_(2)RR.Recent advances in constructing tandem catalysts,mainly including bimetallic alloy nanostructures,bimetallic heterostructures,bimetallic core-shell nanostructures,bimetallic mixture catalysts,metal-metal organic framework(MOF)and metal-metallic complexes,metal-nonmetal hybrid nanomaterials and copper-free hybrid nanomaterials for boosting the CO_(2)RR performance are systematically summarized.The study of tandem catalysis for CO_(2)RR is still at the early stage,and future research challenges and opportunities are also discussed.展开更多
基金under the research project "The Opening Policy and Industrial Upgrading in China:Theory,Empirics and Policy"(10JJD790009)sponsored by the Ministry of Education of China
文摘Economists have recently become interested in weighting how much domestic value-added is actually included in China＇ s exports. Formally, the proportion of foreign and domestic contents could be identified by calculating the vertical specialization share using noncompetitive input-output tables. Applying such a method to the Chinese case, however, would result in a big measurement bias because China has a large share of processing exports, which utilize a disproportionately high percentage of imported intermediates. This paper, by directly employing 2008 trade data for which imported intermediates in both processing and non-processing trade could be identified by means of various trade patterns, provides a simplified way to estimate the share of foreign/domestic value-added included in industry-level manufactured exports. This paper finds that the vertical specialization share of China＇ s processing exports was about 56 percent in 2008, compared to about 10 percent for ordinary exports. It also finds that the sectors that experienced fast expansion of processing exports have a much higher share of foreign contents. Since processing exports accoant for about half of Chinese exports, the prevailing trade statistics, which focus on gross values rather than the value-added of exports and imports, has obviously overstated the bilateral trade imbalances, especially between China and the USA.
文摘Investing on value-added service （VAS） amplifies users＇ participation and platform profit. However, the investing resource is usually limited in practice. This paper investigates VAS investing and pricing strategies for a two-sided platform under investing resource constraint. We reveal that with VAS investment, Subsidizing can still be done to enlarge users＇ demand, even when the investing cost becomes higher. For optimal pricing strategies, the network effect will be the dominating determinant if the gap between two marginal cross-side benefits （i.e. the benefit that users obtain when each new user join the other side of the platform） is large. Interestingly, we show that with the increase of the marginal investing cost, users might either be priced higher or lower. If the marginal investing cost increases to a high level, and the gap between the two marginal cross-side benefits is large, lowering the access fee for users possessing the higher eross-side network effect does not necessarily compensate more profit loss caused by higher cost. Moreover, after VAS is developed, raising the access fee for those whose marginal investing benefit is large does not necessarily generate more profit as well. The opposite strategy further enlarges users＇ utility, and promotes the investment to benefit more users.
基金This work was supported by the National Key R&D Program(No.2017YFA0204503)the National Natural Science Foundation of China(Nos.22071172,91833306,21875158,51633006,and 51733004)+1 种基金Z.F.thanks the funding support from ITC via Hong Kong Branch of National Precious Metals Material Engineering Research Center(NPMM),and the Start-Up Grants(Nos.9610480 and 7200651)Grant from City University of Hong Kong(No.7005512).
文摘Electrochemical CO_(2) reduction reaction(CO_(2)RR)is an attractive pathway for closing the anthropogenic carbon cycle and storing intermittent renewable energy by converting CO_(2) to valuable chemicals and fuels.The production of highly reduced carbon compounds beyond CO and formate,such as hydrocarbon and oxygenate products with higher energy density,is particularly desirable for practical applications.However,the productivity towards highly reduced chemicals is typically limited by high overpotential and poor selectivity due to the multiple electron-proton transfer steps.Tandem catalysis,which is extensively utilized by nature for producing biological macromolecules with multiple enzymes via coupled reaction steps,represents a promising strategy for enhancing the CO_(2)RR performance.Improving the efficiency of CO_(2)RR via tandem catalysis has recently emerged as an exciting research frontier and achieved significant advances.Here we describe the general principles and also considerations for designing tandem catalysis for CO_(2)RR.Recent advances in constructing tandem catalysts,mainly including bimetallic alloy nanostructures,bimetallic heterostructures,bimetallic core-shell nanostructures,bimetallic mixture catalysts,metal-metal organic framework(MOF)and metal-metallic complexes,metal-nonmetal hybrid nanomaterials and copper-free hybrid nanomaterials for boosting the CO_(2)RR performance are systematically summarized.The study of tandem catalysis for CO_(2)RR is still at the early stage,and future research challenges and opportunities are also discussed.
