FINANCIAL AND MONETARY AUTONOMY AND INTERDEPENDENCE BETWEEN SOUTH AFRICA AND THE OTHER SACU COUNTRIES

The paper uses cointegration and error correction modelling techniques together with tests of weak exogeneity, and monthly interest rates for the period 1990 to 2005, to examine the degree of financial and monetary autonomy and interdependence between South Africa and the other Southern African Customs, Union (SACU) countries. The results reveal a high level of dependence of the other SACU countries' financial systems on South Africa's financial system, which suggests that a monetary unification with a single central bank (South African Reserve Bank) and monetary policy for the union is feasible.     

ENTRY AND EXIT, CYCLES, AND PRODUCTIVITY GROWTH

This paper examines the impact of cycles on long-term growthin the presence of entry and exit of firms It is argued thatwhereas mild fluctuations may be beneficial for growth, moresevere fluctuations will be detrimental for growth The essentialpoint is whether recessions go beyond the point that triggers(large-scale) exit of firms Mild fluctuations may have a positiveeffect through the intertemporal substitution between productionand productivity improving activities Severe fluctuations, however,which lead to exit of firms, cause losses of knowledge and skillsduring recessions, and are therefore bad for long-term growth     

FINANCIAL CRISES AND KNOWLEDGE,HISTORICAL AND ANALYTICAL*

Noel Butlin would have welcomed the theme from which this paper began, ‘Financial Crises: Historical Perspectives’. Respecting his memory, I seek to use aspects of New Zealand's financial history to illuminate recent experience while acknowledging that: distinguishing transitory from significant changes is not easy; bringing historical knowledge to bear on current issues is different from mining the past for convenient arguments; and ideas and analysis need to be kept up to date. Economic analysis is far more enlightening than moral protest.     

PROFESSOR REEKIE AND MARKETS: HEALTH CARE AND HIGHER EDUCATION

In this intriguing book Duncan Reekie goes to the very basis of the economic order. ¹ He discusses the views of the ancient Greek and later writers, and in doing so, moves outside the confines of modern economic analysis. One is reminded of what Schumpeter once wrote: the economist pursues the study of cause and effect until he finds the causal role of a variable to be non-economic. We must then "give place to other disciplines". ² Reekie's analysis reverses the order: it starts with the very general concept of the Natural Law in the works of ancient Greek and many subsequent writers, and then shows how they addressed questions that are still relevant today: questions on property and individual freedom.     

保安全保畅通 确保一路平安

正近年来,大连交警支队高速一大队全力以赴整秩序、保安全、保畅通,为平安大连和人民群众出行创造了良好的道路交通环境。今年"春运"之时,我们走近大连高速一大队,来了解这支守卫大连北大门交通的队伍,感受他们的忙碌与辛苦。春运期间正是一年中最寒冷的时刻,大队长于世英带领着执勤交警严密关注过往车辆的安全。每一辆车辆经过,掀起的一阵凉风都使人打一个哆嗦,但于世英说:"虽然天气很冷,但是我们保障春运安全,服务过往车辆,一点也不会因此而降低要求。"     

不知不觉的几十年间，他们都出演了几十部影视作品——大连影视三剑客

7月6日晚上,大连农垦宾馆三楼白令海。这是一个很特别的生日宴会。除了寿星本人,朋友们都不知道这次聚会的理由是过生日。大家刚刚举起酒杯,寿星的女儿提着蛋糕走了进来,并且把一个iphone2送给了寿星,这时候大家恍然大悟,掌声响起来,歌声响起来,蜡烛燃起来。烛光映照在一张又一张表情丰富的脸上,在这一张张脸上,有我们熟悉的三个面孔：刘风岗、姚刚、陈光宝。     

光影

《太极2:英雄崛起》导演:冯德伦主演:梁家辉/Angelababy/彭于晏/冯绍峰类型:动作上映日期:2012年10月26日小编浅谈:幼年丧母的武学白痴经历一连串的颠沛流离,来到了世外桃源"陈家村"。他原以为可以学得一身功夫扬眉吐气,谁知所有陈家村的人都告诉他"陈家拳不外传"。同时他还被以Angelababy、彭于晏为首的一帮人打。Angelababy的神秘老爸"梁家辉"脾气怪、行为怪,带着斗篷现身的冯绍峰也一脸怪笑……陈家村人人怪,但个个身手不凡,就连路边的大叔和随便玩耍的小萝莉也都招招致命。但是皮肉之痛并没有阻挡武学白痴的信心,他终于变身高手,与超级反派面对面……     

科技创意生活

杯子里的加湿器(图1)在干燥的季节,最好能够通过加湿器来增加室内空气的湿度。但是在面积较大的办公室里面使用公共加湿器未免有些浪     

梦想与符号

如果说1840年以后的相当长时间,中国人是“被迫”在现代化的道路上行进;那么,孙中山先生“今日之世界,非铁道无以立国”的呼吁,则应被看成是现代化的“主动”与“自觉”了。西方人比我们更早地认识到近代工业利器的作用。蒸汽机、电等一系列重大发明包括铁路的大量修筑,其一百年时间里所创造的物质文明超过了人类几千年的努力。清政府内部的洋务运动,激     

科技创意生活

Lg太阳能液晶屏；车位导航器；多关节水龙头；求救门锁；世界首台无纸传真机……     

科技创意生活

可视化电子词典（图1） 电子词典已经非常普及，甚至大有取代传统词典的趋势。但是传统的电子词典必须要读出或者写出外文，才能将它翻译成自己的文字，对于那些对外文一窍不通的人而言，又该怎么办呢？     

事不过三

蔡依林一边蹦着跳着，一边哼着唱着《看我七十二变》，就像是小孩子玩“过家家”的游戏，很可爱，多少也有些可笑。无论可爱还是可笑，都出自同一个缘由：人在成长过程中，难免贪图新鲜、追求改变，希望像孙悟空那样拥有七十二变的本事，“缺点变成优点”、“自卑留给昨天”，其间充斥着成长的快乐和烦恼。     

美女与野兽

我在动物园中藏设下一个秘密宝藏。想要知道宝藏的位置,就要挑战隐藏在这个城市公园中的谜题。向着太阳升起的方向,那里有一个地方。大象与天使为邻的近旁,当布列瑟侬的旋律再次响起,它所凭吊的生灵将解开你的迷茫。     

奥克森伯格先生与邹平

奥克森伯格(Michel Oksenberg)先生1938年10月生于比利时一个犹太家庭,1939年随父母去美国。他师从著名的中国问题专家鲍大可,1963年获得哥伦比亚大学政治博士学位,先后在斯坦福大学、哥伦比亚太学、密西根大学任教和从事研究工作。 作为著名的中国通,奥克森伯格先生还直接参与了中美建交的具体操作。