亲山亲水亲民

打造内陆最开放的城市,重庆拥有"两江四岸"等独特资源.2008年市政府工作报告提出,今后重庆的发展要打好山水牌,整体推进长江、嘉陵江"两江四岸"城市规划建设,实施渝中半岛城市形象设计方案,打造亲水近水、观山览水的独特风貌和宜居环境.     

曼谷时尚之都打造的文化创意

曼谷,与世界五大时尚之都伦敦、米兰、巴黎、纽约、东京相比,可以说正在打造进行时,实际上泰国政府从本世纪初就明确、系统的规划曼谷时尚之都的打造.曼谷城市景观呈现代靓丽的同时,又时常可见杂乱破旧;然而,曼谷由于其泰式时尚的多元文化与宽容共生,特别有文化创意,具有独特的难以替代的时尚魅力,在人类城市文明史有着重要的价值,成为世界各地人们热衷的旅游和居住集聚地.     

House prices, money, credit, and the macroeconomy

This paper assesses the links between money, credit, house prices,and economic activity in industrialized countries over the lastthree decades. The analysis is based on a fixed-effects panelvector autoregression, estimated using quarterly data for 17industrialized countries spanning the period 1970–2006.The main results of the analysis are the following. (i) Thereis evidence of a significant multidirectional link between houseprices, monetary variables, and the macroeconomy. (ii) The linkbetween house prices and monetary variables is found to be strongerover a more recent sub-sample from 1985 to 2006. (iii) The effectsof shocks to money and credit are found to be stronger whenhouse prices are booming.     

Energy, the Environment, and Innovation

In this paper we review the theoretical and empirical literatureon the role of policies in stimulating innovation that is designedto produce greener and more energy-efficient technologies. Firstwe review the theoretical literature on the role of purely environmentalpolicies in inducing firms to undertake environmental innovation.The conclusion is that for a wide range of policies and in awide range of circumstances one cannot prove that these policiesnecessarily induce greater innovation. We then consider theempirical evidence, which suggests that the effect of thesepolicies is weak but that the largest effects come in the longrun when, through learning-by-doing, firms better understandthe scope and potential for new energy-efficient technologies.Finally we consider the design of both environmental and technologypolicies, and show that the interaction of these policies iscomplex and warrants considerable further research.     

Globalization, Growth, and the Poor

This paper discusses the possible causal relationships and empirical associations between globalization and growth, growth and poverty reduction, and, finally, globalization and poverty reduction. We argue that globalization can contribute much to poverty reduction both directly and by accelerating growth. Second, the contributions of redistributive policies are very likely to be less than the contribution of greater access to markets, more competitive insurance and financial markets, and improved institutions to poverty reduction. The potential effect of greater international integration on poverty reduction, however, is limited by domestic policy failures in developing countries and also by continued protectionism, particularly in developed countries.     

Stabilization, adjustment, and the poor

This paper attempts to survey the recent literature on the impact of stabilization and adjustment programs upon the poor and to consider some of the key issues in the context of a particular equity-oriented low-income country. Tanzania. After looking at some of the approaches of earlier studies, this paper analyzes the effects of restructuring policies, macroeconomic restraint, and strategic policy change. The author then reviews available evidence on the recent experience of Tanzania with external shock, efforts at stabilization, and relations with the IMF.In conclusion, the author argues that in order to better understand their impact on poverty we need more detailed analyses of specific countries' experience with different kinds of macroeconomic imbalance and different short- to medium-term policy responses. However, he does indicate with some certainty that when equivalent external blows impact upon very low-income countries, there must be a presumption that, other things being equal (including the distribution of income), the proportion of households and people pushed over the line into “absolute poverty” will be greater than in middle-income countries. The international community should provide external finance to aid these low-income countries in limiting the negative impact on the poorest.     

Trade,FDI, migration,and the place premium: Mexico and the United States

Large wage differences between countries (“place premiums”) are well documented. Theory suggests that factor price convergence should follow increased migration, capital flows, and commercial integration. All three have increased between the United States and Mexico over the last 25 years. This paper evaluates the degree of wage convergence between these countries during the period 1988 and 2011. We match survey and census data from Mexico and the United States to estimate the change in wage differentials for observationally identical workers over time. We find very little evidence of convergence. What evidence we do find is most likely due to factors unrelated to US–Mexico integration. While migration, trade, and FDI may reduce the US–Mexico wage differential, these effects are small when compared to the overall wage gap.     

Options,premium contracts,and the EOE

Summary The article examines the development of options trading in Amsterdam from the seventeenth century to the present time. It shows how the market for traditional options, or premium contracts, was restricted by a number of limitations and how a new form of option — the exchange traded option, and a new options market — the European Options Exchange (E.O.E.), were introduced to overcome these limitations. It examines the first two years of operation of the E.O.E., analyzes some of the problems faced by the E.O.E., and looks at the future development of this new market.     

Money,Velocity, and the Stock Market

This paper provides a study of the relationship between money growth variability, velocity, and the stock market, using recent advances in financial econometrics. We estimate a trivariate VARMA, GARCH-in-Mean, BEKK model to quantify the effects of financial market and money supply instability. We investigate the robustness of the results to different definitions of money using monthly Divisia indices for the United States from the Center for Financial Stability (CFS). Empirical evidence supports significance of financial market and money supply volatility, and we conclude that Friedman’s money supply volatility hypothesis is alive and well.     

Capital-market Liberalization, Globalization, and the IMF

One of the most controversial aspects of globalization is capital-marketliberalization—not so much the liberalization of rulesgoverning foreign direct investment, but those affecting short-termcapital flows, speculative hot capital that can come into andout of a country. In the 1980s and 1990s, the IMF and the USTreasury tried to push capital-market liberalization aroundthe world, encountering enormous opposition, not only from developingcountries, but from economists who were less enamoured of thedoctrines of free and unfettered markets, of market fundamentalism,that were at that time being preached by the international economicinstitutions. The economic crises of the late 1990s and earlyyears of the new millennium, which were partly, or even largely,attributable to capital-market liberalization, reinforced thosereservations. This paper takes as its point of departure a recentIMF paper, to provide insights both into how the IMF could havegone so wrong in its advocacy of capital-market liberalizationand into why capital-market liberalization has so often ledto increased economic instability, not to economic growth.     

Health,height, and the household at the turn of the twentieth century

This article examines the health and height of men born in England and Wales in the 1890s who enlisted in the army at the time of the First World War, using a sample of recruits from the army service records. These are linked to their childhood circumstances as observed in the 1901 census. Econometric results indicate that height on enlistment was positively related to socio‐economic class, and negatively to the number of children in the household in 1901 and the proportion of household members who were earners, as well as to the degree of crowding. Adding the characteristics of the locality has little effect on the household‐level effects. However local conditions were important; in particular the industrial character of the district, local housing conditions, and the female illiteracy rate. These are interpreted as representing the negative effect on height of the local disease environment. The results suggest that changing conditions at both household and locality levels contributed to the increase in height and health in the following decades.     

Fiscal policy switching in Japan, the US, and the UK

This paper estimates fiscal policy feedback rules in Japan, the United States, and the United Kingdom for more than a century, allowing for stochastic regime changes. Estimating a Markov-switching model by the Bayesian method, we find the following: First, the Japanese data clearly reject the view that the fiscal policy regime is fixed, i.e., that the Japanese government adopted a Ricardian or a non-Ricardian regime throughout the entire period. Instead, our results indicate a stochastic switch of the debt-GDP ratio between stationary and nonstationary processes, and thus a stochastic switch between Ricardian and non-Ricardian regimes. Second, our simulation exercises using the estimated parameters and transition probabilities do not necessarily reject the possibility that the debt-GDP ratio may be nonstationary even in the long run (i.e., globally nonstationary). Third, the Japanese result is in sharp contrast with the results for the US and the UK which indicate that in these countries the government’s fiscal behavior is consistently characterized by Ricardian policy.     

进击的杭州,无解的深圳,心疼的广州

<正>土地乃城市之母,2018年,各大城市都通过卖地获得了相应的出让金,在这里,我主要想说的是杭州、广州、深圳三个城市。一、进击的杭州相关资料显示,杭州的卖地收入远超北上广,稳居全国第一,也是全国唯一一个超过2000亿的城市。2501亿元,差不多比杭州2017年的可支配财政收入还要多1000亿。杭州为什么这么猛?因为杭州要开亚运会,为了迎接2022年的亚运会,这座城市