Inflation,currency exchange rates,and the international securities markets

A time-state-preference model of an efficient and complete international financial market is employed to investigate the conditions under which the international Fisher Effect will hold, and the forward currency exchange rate will be an unbiased estimate of the future spot rate. The presence of stochastic inflation within countries in the fiat-currency prices of real goods will destroy both relationships, even in the absence of any institutional imperfections or trading barriers. Similarly, expected inflation rate differentials across countries will not coincide with spot-versus-forward currency exchange rate differentials.     

On the use of profit data to estimate the social cost of monopoly power in an oligopoly

Relatively high estimates of the welfare cost of monopoly power in U.S. manufacturing industries have been obtained by economists who use the Lerner equation to estimate this welfare cost from profit data. These Lerner equation loss estimates are appropriate for a monopoly with constant costs and linear demand. But if the industry is an oligopoly in a Nash-Cournot equilibrium, the Lerner equation loss estimates can be more than twice as large as the actual welfare gain that would result from the elimination of monopoly power. Partial and general equilibrium examples are presented to illustrate the nature of these estimation errors.     

Selection and motivation of distribution intermediaries

This article reviews factors necessitating the application of effective selection and motivation criteria when using independent distributors. It reports findings concerning the criteria utilized by samples of US and UK manufacturing companies. Generally, there appears to be much that is acumenical in the efforts of firms in both countries. However, there also seems to be considerable scope for improvement in selecting and motivating distributors.     

小宫隆太郎教授的日中企业理论及其启示

日本著名学者小宫隆太郎教授从日本经济思想史的角度，对企业理论，日本企业以及中国企业经济问题进行了深入的研究，从经济研究基本方法和基本态度等方面，小宫隆太郎教授的企业理论对我们很有启示。     

城乡一体化是建设社会主义新农村的必由之路

只有逐步改变传统农村和农村经济所固有的特征,不断调整历史上形成的城乡经济社会分割格局,才有可能从根本上克服作为各自独立的城市系统与农村系统所必然产生的一系列矛盾,并为整个经济社会系统的协调发展开辟广阔的前景。城乡一体化是建设社会主义新农村的必由之路。城市化应当是推动农村发展的城市化,社会主义新农村应当是城市化进程中的新农村。     

略论中国银行业创新的路径选择

文章首先分析了中国金融业的结构性缺陷,其次分析了中国民营中小企业贷款难的形成和原因,最后提出了通过创办民营中小银行这一金融机构来解决以下三个问题:当前银行业的结构性缺陷、民营企业贷款难和民营经济在金融领域中的发展问题。     

对设立职工基本医疗保险个人帐户的质疑

本文介绍了认股权证与普通买入期权的差异 ,分析认股权证的主要功能 ;通过对影响认股权证价格的六个因素进行讨论 ,最后对认股权证的几种定价方法进行讨论和比较。     

Measures of brand attitude: Are cognitive structure approaches really needed?

Recent research on attitude toward the advertisement provides a theoretical base that questions the usefulness of multiattribute attitude measures. Arguments for global measures of brand attitude in affect-referral choice situations are presented. The two types of measures are tested as predictors of purchase intentions for ten supermarket brands. Global brand attitudes demonstrated greater predictive value for nine of the ten test brands.     

Forecasting Market Size and Market Growth Rates for New Products

How many times is a forecast of a technological development correct? According to many experienced managers, it almost never is. Then what good is a forecast? A forecast helps make important innovation decisions, according to Brian C. Twiss. He argues that precision in forecasting a technological development is seldom needed for purposes of long-term planning and that any innovation so marginal that small errors in forecasting will make a big difference should not be considered anyway. Twiss suggests that technology forecasting can be of real value once it is accepted that it is essentially concerned with modeling human behavior. This is the unexpected viewpoint that Twiss presents in this article. He explains how to develop and how to use a technology forecast in long-range planning.