Mix of Fiscal and Monetary Policy Rules and Inflation Dynamics in China

The present paper examines the role of the mix of fiscal and monetary policy rules in determining inflation dynamics using fiscal and monetary policy reaction functions and Markov‐switching vector autoregression methods based on quarterly data in the period 1992–2007. Our results show that fiscal and monetary policies in China can be adequately described using some simple rules, and that significant regime shifts took place around 1998. Fiscal policy tended to be active and countercyclical in the pre‐1998 period, then switched to be passive and more countercyclical, whereas monetary policy was characterized as passive and procyclical in the pre‐1998 period, and switched to be active and countercyclical afterwards. The mix of fiscal and monetary policy rules can explain inflation dynamics better than the monetary policy rule alone. Therefore, price stability requires not only appropriate monetary policy but also appropriate fiscal policy.     

论足球运动的特征变异与规则演变的辩证关系

足球运动的特征变异与规则演变密切相关,规则总是要根据竞赛中出现的问题,着眼于足球发展的趋势,做出及时合理的修改,才能保证足球运动向更健康的方向发展。     

关联规则挖掘Apriori算法的研究

关联规则反映了大量数据中项集之间的相互依存性和关联性。Apriori算法是关联规则挖掘中的经典算法。本文在对Apriori算法分析的基础上,针对该算法存在的缺陷,即会产生大量冗余的候选集并频繁扫描数据库,提出了改进的Apriori算法,并给予验证。实践证明,改进后的算法效率优于传统的算法。     

从NAFTA和MAI的视角看投资协定中的环境规则

进入20世纪90年代以来，人们日益把投资和环境问题联系起来。这里首先阐述了投资和环境问题的内在联系，继而对北美自由贸易协定和多边投资协定中的环境规则进行分析，最后为未来的投资协定的环境规则提出了若干建议。     

Price expectations, capital accumulation and employment: Lindahl's macroeconomics from the 1920s to the 1950s

Erik Lindahl's approach to macroeconomics focused on the non-neutralityof monetary policy (in the short and the long run) and on thedenial of the existence of natural rates of interest and unemployment.From the 1920s until his death in 1960, Lindahl advocated theuse of norms for monetary policy to fight inflation and deflationprecisely because he would not rely on the market system's returnto natural rates. Making use of hitherto unexplored material,this paper analyses the development of Lindahl's thinking aboutprice level changes, investment and employment from the 1920sto the 1950s.     

入世后中国市场规则的完善--以朗讯(中国)"贿赂事件"为例

文章以朗讯(中国)"贿赂事件"作为切入点,分析了跨国公司在华进行商业贿赂的原因及危害,指出抑制商业贿赂、保障公平竞争的重要性,并提出完善中国市场规则的具体建议.     

我国现行外资政策法规的"适世"思考

入世后，我国现行外资政策法规与WTO规则仍存在一些不相容的地方。为了适应入世需要，必须根除错误观念，优化投资环境，转变政府职能，认真研究WTO规则及其例外，为内外资企业竞争构造统一平台。     

Strongly stable networks

We analyze the formation of networks among individuals. In particular, we examine the existence of networks that are stable against changes in links by any coalition of individuals. We show that to investigate the existence of such strongly stable networks one can restrict focus on a component-wise egalitarian allocation of value. We show that when such strongly stable networks exist they coincide with the set of efficient networks (those maximizing the total productive value). We show that the existence of strongly stable networks is equivalent to core existence in a derived cooperative game and use that result to characterize the class of value functions for which there exist strongly stable networks via a “top convexity” condition on the value function on networks. We also consider a variation on strong stability where players can make side payments, and examine situations where value functions may be non-anonymous—depending on player labels.     

Hungary's entry into the euro area: Lessons for prospective members from a monetary policy perspective

This paper evaluates the conduct of monetary policy in Hungary using standard Taylor rules as well as extended rules that incorporate real exchange rate effects. Moreover, we explicitly consider the impact of future euro area entry by estimating instrument rules that permit an influence from Maastricht Treaty inflation requirements via the estimation of Markov switching models as well as by estimating a differential rule vis-à-vis the existing euro area. Lastly, the paper also considers the impact on policy rules from the large data revision that affects real exchange rate and output estimates. I find that interest rate setting behavior in Hungary does not resemble that of the euro area. Also, counterfactual experiments reveal that the potential macroeconomic costs of entry into the euro area sooner rather than later may be lower than if membership in the single currency area is delayed beyond 2008.     

商业银行人力资源管理中的潜规则及其运用

潜规则与显规则一起渗透在商业银行人力资源管理一系列活动的各个环节，成为指导、左右并决定每一环节活动顺利进行和成功实现其目标的关键因素。同时，潜规则在商业银行人力资源管理中的表现多种多样，其功能发挥与约束条件不同于显规则。由此，在商业银行人力资源管理实践中，必须在重视正式规则建设的同时，注意加强非正式规则的建设，改善商业银行的软环境。既要发挥显规则的硬约束功能，又要运用好潜规则的软约束效应，为改进商业银行人力资源管理创造良好的条件和基础。