Exchange Rate Cycles and Canada/US Manufacturing Prices

The paper examines the industry characteristics that are related to the shifts in competitiveness, measured as the relative common-currency price ratios between Canadian and US manufacturing prices. We find that relative input costs and relative productivity growth are the two most important factors influencing changes in relative Canada/US prices. Competitive pressures emanating from trade are important determinants of the extent to which relative productivity differences are passed through to cross-country relative prices. We also find that the magnitude of domestic market competition and export intensity affects the short-run relative price shifts over the cycle of exchange rate. JEL no. E30, F31, L60     

人民币汇率传递的不对称性及其对中国进出口的影响

从汇率传递不对称性角度分析了汇率变动对进出口的影响和对马歇尔-勒纳条件的影响;利用中国进出口的国别面板数据进行实证检验,得出人民币汇率变动对进口的影响大于对出口的影响,人民币汇率贬值对进出口影响大于升值对进出口的影响;根据汇率传递的不完全性和不对称性分析了人民币汇率变动对中国进出口影响的有限性和不对称性的原因。     

从人民币升值透视中美国际关系

以美国为首的国际社会纷纷要求中国进一步放松汇率管制，加快人民币的升值幅度与速度，而且人民币汇率制度和价值重估等问题，已经成为当今国际金融市场乃至各国政府关注的焦点。从政治学角度来看，申美人民币汇率争论的实质内容是：美国政府基于其国内政治经济压力，试图封中国在寻求汇率制度安排的动态最优解时施加有利于自己的影响；中国政府则基于经济结构调整的艰难、维护稳定政治经济环境的需要和对渐进式改革的政策偏好等因素，力图按照自己的时间表追行人民币汇率形成机制改革。本文试图以中美间人民币汇率之争为切入点，从国际政治经济学的视角，探寻隐藏在汇率问题背後的国际关系本质。     

Globalization and Income Gap from the Perspective of Developing Countries

Using political economic theory, this paper analyzes the impact of economic globalization on international income distribution, including the income gap between developed countries and developing ones, the income gap among the developing countries. The paper states that because the economic globalization is the globalization of capitalism manufacture style and developed countries dominates the process, the income gap between developing countries and developed one is difficult to be narrowed, and the income gap in developing countries will enlarge.     

外汇储备规模分析及管理建议

随着我国外汇储备突破一万亿大关,关于储备是否适度的问题变得越发尖锐。本文着重分析了规模过大的外汇储备可能带来的负面问题,并提出了外汇使用和管理的合理路径。     

企业慈善捐赠、校企关联与创新绩效 ——基于企业与校研机构资源交换的视角

以社会网络理论为基础,基于企业与校研机构资源交换视角,利用2010—2017年沪深A股上市公司数据,实证检验企业慈善捐赠与创新绩效的关系,结果表明慈善捐赠有利于企业创新产出,校企关联和企业地域位置在企业捐赠与创新绩效之间起着显著的正向调节作用。以上结论验证了慈善捐赠已成为企业与高校等科研机构建立及维持合作关系的重要手段之一,进一步打开了慈善捐赠与企业创新之间的黑箱,丰富了战略慈善的理论内涵。     

Do fluctuations in crude oil prices have symmetric or asymmetric effects on the real exchange rate? Empirical evidence from Indonesia

Current research on the oil price impacts on exchange rates typically relies on the assumption that fluctuations in crude oil prices have symmetric impacts on a country's real exchange rate. Thus, the contribution of the paper is to use the non‐linear autoregressive distributed lag (ARDL) method of Shin, Yu, and Greenwood‐Nimmo (2014) and examine whether crude oil prices are asymmetrically passed on to the real exchange rate in the case of Indonesia. We uncover that oil price changes indeed asymmetrically affect the Indonesian rupiah in both the long and short run; i.e., the movement in the Indonesian rupiah appears to be more responsive to rising oil prices than to declining oil prices.     

桂西资源富集区土地利用转化的时空特征

［目的］多维度多时序区域土地利用转化度量，揭示土地利用转化特征和动力机制，是区域国土空间规划和管制的重要依据。［方法］基于GIS空间分析、土地利用交换变化率、空间分离度等方法，研究1995—2015年桂西资源富集区各时段土地利用转化的时空特征。［结果］（1）研究初期主要表现为农用地之间的相互转换，后期土地利用转化类型复杂多样，建设用地面积较研究初期大幅增加。（2）土地利用转化强度随时间变化由北部向南部转移，各时期土地利用转移强烈程度地域分布及转移类型有所差异。（3）研究期初和期末土地利用转化空间分离度平均值较中间时期更大。（4）土地利用转化与地理位置、地形地貌、矿产开采及加工、人口转移及劳动力构成、国家政策等因素有关。［结论］短时期内资源型地区受人类活动干扰强烈，土地利用转化活跃，分析其转化特征对统筹协调区域国土资源开发利用和保护具有重要意义。     

When work and life boundaries are blurred—P2P accommodation hosts’ work-life integration and consequences

Being a peer-to-peer accommodation host (P2P host) has become a popular career choice in China due to its believed advantages in balancing work and life. This option, however, has blurred the boundary between work and life and has been known to elicit a series of negative consequences in both domains. Building on boundary theory and conservation of resources theory, this study proposed and examined how work-life integration can influence P2P hosts’ perceived work-family conflict, role overload, emotional depletion, and social exchanges with customers. Using data collected from 304 P2P hosts in China, the findings of the study found that work-life integration can lead to higher levels of role overload, work-family conflict, and emotional depletion of hosts, which in turn affect their social exchange with customers.     

Stock prices and exchange rate dynamics in Nigeria: An asymmetric perspective

This paper investigates the asymmetric effect of exchange rate changes on stock prices in Nigeria. Using the nonlinear ARDL framework and monthly data from 2000:1 to 2016:12, the nominal exchange rate is separated into currency depreciation and appreciation through a partial sum decomposition process. Asymmetry is examined both in the long-run relationship and short-run error correction mechanism. The results show that the effects of exchange rate changes on stock prices is asymmetric both in the short- and long-run. That is, stock prices react in different magnitude to depreciation and appreciation. However, currency depreciation has a strong pass-through effect on stock prices than appreciation in the long-run. In the absence of asymmetry, exchange rate has only short-run effect on stock prices. This implies that the symmetry assumption underestimates the impact of exchange rate changes on stock prices in Nigeria.