Supply-Side Economics and Budgetary Policy

The meaning of 'supply side' economis has been the cause of some confusion. Martin Ricketts, of the University of Buckingham, reveals that supply-side measures encompass institutional reform as well as cuts in taxation. The Government's policy of privatisation is creating alienable property rights which will improve economic efficiency and reduce the discretionary power of the state.     

Supply-Side Economics and the Future

How will supply-side economics fare under the new administration? Paul Craig Roberts of the Center for Strategic and International Studies at Georgetown University in Washington, argues that supply-side economics was the major success of President Reagan but that the new administration may not follow its predecessor's example.     

Sources of volatility persistence: A case study of the U.K. pound/U.S. dollar exchange rate returns

This paper utilizes a new approach to examine the inherent nonlinear dynamics of the exchange rate returns volatility. Specifically, we utilize a regime switching threshold (i) generalized autoregressive conditional heteroskedasticity (RS-TGARCH) and (ii) a fractional generalized autoregressive conditional heteroskedasticity (RS-TFIGARCH) model. The RS-TGARCH model is found to be adequate in analyzing the first two moments of the U.K. pound/U.S. dollar monthly exchange rate returns series. The RS-TFIGARCH is found to be adequate for the daily returns series. The volatility persistence and leverage effects associated with exchange rate returns series are jointly tested by means of a Wald Chi-square test.     

美日英城市规划立法模式比较

发达国家在城市规划管理制度的建设和实践中,形成了不同的规划立法制度模式。从规划立法中的中央与地方关系、立法主体的特征及其关系、监督制约机制等方面入手,分析和总结了美英日三国规划立法制度模式的特点及其制度实践中的经验教训,对于思考和探索适合我国当前城市规划的制度建设的路径和方法,提供了重要的借鉴和启示。     

A Comparitive Study of the Use of Financial Graphs in the Corporate Annual Reports of Major U.S. and U.K. Companies

The use of graphs to disclose information in corporate annual reports represents a significant dimension in financial disclosure management. Surprisingly, no inter-country comparative analysis of this area of voluntary disclosure has been conducted. This study compares the graphical reporting practices in the 1990 annual reports of 176 leading U.S. and U.K. industrial companies. Ninety-two per cent of U.S. companies use graphs compared with 80% of U.K. companies; the mean number of graphs per company being 13.0 and 7.7, respectively. Sales, an earnings measure, earnings per share and dividends per share are the four most frequently graphed aggregate financial performance variables in both countries. Significant differences in several of the variables graphed are found and explained in terms of environmental factors. In both countries, evidence of graphical information manipulation exists in the form of selectivity, measurement distortion, and presentational enhancement. Moderate evidence supports the hypothesis that U.K. companies are more likely than U.S. companies to adopt interpretative shading. Regulators need to clarify the responsibilities of directors and auditors by setting graphical guidelines.     

The demand for imports and exports in the U.S.: A survey

One of the more important issues in applied international economics is the extent to which trade flows adjust to changes in income, relative prices, and exchange rates. In this paper, the literature on the empirical estimation of the demand for imports and exports for the U.S. is surveyed. More precisely, this paper updates earlier surveys by Stern, Francis, and Schumacher (1976) and Goldstein and Khan (1985).     

美国SAKS公司的越库配送系统

当今，越库配送为希望精简原产地到销售点供应链的零售商提供了巨大的发展潜力，除了可以消除不必要的产品输送和存储工作以及所有与过量存货相关的直接成本外，越库配送还为零售商提供了进一步节约成本的潜在可能。如果需要存储的产品数量较少，存储并输送该产品所需的空间和设备也会减少，这样订单履行速度将会提高而且产品损坏和过期的可能性也大大降低。     

Pricing-to-market in U.S. imports and exports: A time series and cross-sessional study

This paper provides a comparative study of how U.S. imports and exports prices react to exchange rate changes. It finds, through time series analyses, that while both U.S. and foreign exporters price to market, foreign exporters in general absorb a large portion of exchange rate changes by themselves while U.S. exporters pass through most of the exchange rate change to foreign currency prices. Pricing behavior of U.S. imports and, to a lesser extent, of U.S. exports varies across industries and such variation relates to industry characteristics such as market shares, product d differentiation, and capital-to-labor ratio.     

Trade and Geography: Paul Krugman and the 2008 Nobel Prize for Economics

Abstract

The 2008 Nobel Prize for economics was awarded to Paul Krugman for three papers—Krugman (1979, 1980, 1991). In this paper we illustrate that, indeed, these three papers are closely connected. We present a summary of the papers using a unified framework. Central in the discussion is the so-called home market effect that was already alluded to in Krugman (1979). We evaluate his work and conclude that these three papers changed and improved the way in which economists think about trade and geography.

Commerce et Géographie: Paul Krugman et le Prix Nobel 2008 en Économie

Résumé Dans la présent communication, nous illustrons la façon dont ces trois communications sont en rapport étroit. Nous présentons un récapitulatif sur ces communications, en suivant un cadre unifié. Au c?ur même de ces discussions se trouve ce que l'on appelle l'effet du marché intérieur, déjà évoqué dans Krugman (1979). Nous évaluons cet ouvrage, en concluant que ces communications ont changé et optimisé la façon dont les économistes conçoivent le commerce et la géographie.

Comercio y Geografía: Paul Krugman y el Premio Nobel 2008 en Economía

Résumén En este documento ilustramos que, de hecho, estos tres ensayos están estrechamente relacionados. Presentamos un resumen de los ensayos utilizando un marco unificado. Un factor fundamental del debate es el denominado efecto del mercado nacional, al que ya se había hecho alusión en Krugman (1979). Evaluamos este trabajo y concluimos que estos tres ensayos cambiaron y mejoraron la forma de pensar de los economistas sobre el comercio y la geografía.     

Business communities in the European confectionery sector: A U.K.-Finland comparison

This paper is based on the early stages of an international collaborative project investigating the structural changes of the confectionery sectors in Finland and the U.K. over the past two decades. An institutional perspective is used to extend conventional understandings of industries via the development of the sector concept. The network and community constructs are shown to be important devices for understanding the institutional character of a sector. Accordingly, the paper reveals the similarities and differences between the two national examples. An explanation is offered of the way domestic networks persist in both countries while contrasting community profiles are apparent.     

Offshoring and reshoring: U.S. insights and research challenges

The phenomenon of reshoring to the U.S. has received wide attention ever since it became a political platform for U.S. politicians during the last presidential election. The economic downturn, a heightened emphasis on sustainability, and increasing customer expectations for flexibility and improved cost performance drove firms to re-consider the appropriate “shoring” decision. The intent of this research note is to add a U.S.-centric perspective to the “shoring” debate.     

Impact of Entrepreneurship Education: A Comparative Study of the U.S. and Korea

Over the last two decades, entrepreneurship has emerged as a mainstream business discipline in the United States. Even after the collapse of the dotcom phenomenon, the global explosion of e-business and new business opportunities created by advances in information and telecommunication technologies (ICT) have widely popularized entrepreneurship for new venture creation. But while entrepreneurship is becoming more prevalent throughout the world, its education by country differs according to cultural context. This paper presents the results of a study on the impact of entrepreneurship education in the U.S. and Korea.     

The U.S. deficit: Whose Fault?

The US budget deficit, and the higher interest rates it is said to cause, is blamed for depressing the economies of Europe. A former Assistant Secretary to the Treasury, now Professor of Economics at Georgetown University, challenges the view that it is the result of President Reagan's tax cuts and defence build-up. In a broadly 'supply-side' analysis, he criticises Paul Volcker, Chairman of the Federal Reserve Bank, David Stockman, Director of the Office of Management and Budget, and Professor Martin Feldstein, Chairman (until June) of Council of Economic Advisors.     

美国《复苏与再投资法案》浅析

浅析了美国<复苏与再投资法案>的优势:先进的制度设计,促使投资尽早起效;严格的程序要求,保证投资准确到位;监管方式的多样,确保投资全面落实.     

英国桑斯博里配送中心

桑斯博里(Sainsbury)连锁超市是英国第三大零售商,创建于1869年,年销售收入约20亿英磅,在英国的门店超过500家,员工约17万名,能够提供3万多种商品,包括高质量的食品、蔬菜、肉类、鱼类等,其中50%的商品是自有品牌。