Three macroeconomic syntheses of vintage 1937: Hicks,Haberler, and Lundberg

Abstract

The 1920s and 1930s were years of intensive debate about economic dynamics and stabilisation policies. There was a large variety of explanations of cycles and depressions, and Keynes’ General Theory of Employment, Interest and Money (1936) was pitched against them. In 1937, followed three different attempts to provide synthetic expositions of macroeconomic theory that would deal with the Keynesian challenge: Hicks’ Mr. Keynes and the “Classics”, Haberler's Prosperity and Depression, and Lundberg's Studies in the Theory of Economic Expansion. This paper compares those 1937 syntheses and contrasts them with the “Neoclassical Synthesis” and the current “New Neoclassical Synthesis”.     

Validating new product creativity in the eastern context of Malaysia

This paper examines the etic vs. emic nature of the new product creativity (NPC) construct often used in the strategic marketing and management literatures. The current study compares the NPC measure developed by Im and Workman (2004) in the West in an Eastern context by utilizing data from 172 Malaysian companies. The results show that NPC, which is the combination of new product (NP) novelty and NP meaningfulness, has a different connotation in Malaysia. The findings demonstrate that from the novelty perspective NPC is an emic phenomenon. After the construct validation process, the Western claim that NPC is a seed of firm performance is tested. The results verify NPC's relationship with NP performance as a source of competitive advantage for Malaysian firms and thus suggest that this relationship is etic in nature. These findings have significant implications for firms' global innovation strategies.     

享年次高的诺贝尔奖得主——新制度经济学大师罗纳德·科斯

1991年诺贝尔经济学奖得主、英国和美国(双重国籍)经济学家和法学家罗纳德·科斯是交易成本理论、科斯定理和科斯猜想的首创者,法律经济学和新制度经济学的开山鼻祖,产权理论和产权经济学的奠基人,他开启了产权理论、法律经济学和新制度经济学三个领域的研究方向。科斯是国际经济学界的泰斗级大师和巨匠,他在阐述经济组织产生的原理、交易成本分析以及推动法学、经济史和组织理论的发展方面作出重要贡献,发展了新古典经济学,开创了现代企业理论。科斯一生都关切和热爱中国,一直密切关注着中国的经济改革,其经济理论和深邃思想对中国的经济改革影响巨大而深远。     

论我国民间借贷的若干法律规制重点 ——基于金融功能观理论的分析

金融功能观理论认为金融具有资源分配、融资、信息提供、支付手段、激励机制和风险控制六大功能。我国民间借贷存在着资源配置功能受到地域和习惯的影响而作用不明显;信息提供功能缺乏准确性,且容易引发道德风险;原本正常激励机制容易变成鼓励贪婪的工具;在支付手段和管理风险方面缺乏作为。为更好实现金融的功能,立法应当将以下方面作为重点:明确民间借贷主体准入条件以赋予部分主体以合法地位;对借贷利率进行规制,严格遏制高利贷;详细规定各种非法借贷行为的法律责任;鼓励民间借贷加强行业自律。     

How to make Dupire’s local volatility work with jumps

There are several (mathematical) reasons why Dupire’s formula fails in the non-diffusion setting. And yet, in practice, ad-hoc preconditioning of the option data works reasonably well. In this note, we attempt to explain why. In particular, we propose a regularization procedure of the option data so that Dupire’s local vol diffusion process recreates the correct option prices, even in manifest presence of jumps.     

Loosely Coupled Results Control in Dutch Municipalities

This paper analyses the implementation of the ‘dual system’ in Dutch municipalities which was part of a package of New Public Management‐reforms. This system was stimulated by Dutch central government and called for more accountability for performance of municipal managers and the board of mayor and aldermen, as well as for the use of more output and outcome information. Interviews of participants on four different hierarchical levels in 12 municipalities show that the practices of output management at different hierarchical levels are only loosely coupled to each other (‘vertical loose coupling’). We also found some degree of ‘horizontal loose coupling’ at each hierarchical level between result orientation, the development of output indicators and the use of output information for performance evaluation. The paper analyses the reasons why municipalities encounter difficulties in designing a comprehensive and coherent performance management system.     

基于扩展计划行为理论的乡村旅游经营者从众行为研究——西安市上王村实证

乡村旅游是实现巩固拓展脱贫攻坚成果同乡村振兴有效衔接的重要路径选择。乡村旅游经营者的从众行为能够促进旅游地的规范化与规模化发展,但一味地盲从也必然会给旅游地造成不可挽回的损失,理性对待乡村旅游经营者的从众行为对旅游地的可持续发展意义深远。本文基于扩展的计划行为理论基本框架,引入精英影响感知和模糊情境感知两个变量,对乡村旅游经营者从众行为意向的影响因素进行实证研究,并构建乡村旅游经营者从众行为形成机制的理论模型。研究发现,行为态度、指令性规范、知觉行为控制、精英影响感知和模糊情境感知与从众行为意向呈显著正相关关系。另外,乡村旅游经营者的受教育水平对从众行为意向存在显著影响,且呈现受教育水平越高从众行为意向越低的趋势。为了进一步发展乡村旅游,助推乡村振兴,建议提升乡村旅游经营者的经营能力;发挥乡村旅游精英的信息传递与示范带动作用;落实政府的引导与监管职能;防范政府决策层的盲从行为。     

基于游客感知的古北水镇存在的问题及对策研究

根据旅游地生命周期理论采用S曲线对古北水镇的未来发展进行预测,发现古北水镇的发展趋势并不乐观。通过分析网络评价文本并结合问卷调查两种方法探究游客感知下的古北水镇形象和其存在的问题。研究发现,古北水镇目前存在竞争优势不明显、商业化问题严重、旅游产品缺乏地方特色和基础配套设施亟待完善的问题,针对这些问题提出立足于文化底蕴打造竞争优势、降低商业化程度、开发创新性的文旅产品和完善基础设施的发展对策。     

分税制财政体制改革中的利益集团博弈研究

改革开放以来,尤其是中国共产党十八届三中全会召开前后,在财政体制改革过程中,存在着各种利益集团之间错综复杂的博弈问题。本文将以博弈论为主要的分析工具,运用实证分析法来研究完善分税制财政体制过程中的利益集团博弈问题。首先概括性地阐述我国分税制财政体制中的利益集团博弈问题。然而具体分析各种利益集团的博弈问题。从取得财政收入方面来说,主要是处理好税收征纳双方的博弈问题;从支出财政资金层面讲,则是处理好政府各个职能部门之间的博弈关系。由此在深化财政体制改革的过程中,我们必须妥善处理好中央与地方,国家、企业与个人,税收征纳双方,政府各个职能部门等利益集团之间错综复杂的利害关系。激发全社会各方面的活力,使得众多利益集团创造社会财富的源泉动力充分地涌流。目的是完善分税制财政体制,构建与市场经济相适应的现代财政制度。     

Using Pacioli’s pedagogy and medieval text in today’s introductory accounting course

Students today see little relevance in learning double-entry bookkeeping and find it difficult to learn how to prepare journal entries correctly. In particular, they struggle with the first stage of the double-entry process: identifying which accounts are to be debited and which are to be credited for each transaction. This paper reports on an attempt to overcome this situation by using the first printed instructional text on the subject (Pacioli, 1494) as the principal textbook on a 20-hour component of the introductory financial accounting course in an undergraduate accounting degree program. Instruction followed the pedagogy presented by Pacioli and only minimal additional costs to faculty were incurred.