The 1932 Federal Reserve Open-Market Purchases as a Precedent for Quantitative Easing

The $1 billion open-market operation conducted by the Federal Reserve, at the height of the Great Depression, was a successful precedent to the recent Quantitative Easing (QE) programs. The 1932 program entailed large purchases of medium- and long-term securities over a 4-month period. An event study analysis indicates that the program dramatically lowered medium- and long-term Treasury yields. A segmented markets model is used to analyze the effects of the open-market purchases on the economy. A significant degree of financial market segmentation is estimated, and partly explains the observed upturn in output growth. Had the Federal Reserve continued its operations and used the announcement strategy used in QE1, the Great Contraction could have been attenuated earlier. Our historical analysis suggests that the Federal Reserve in 2008 had a good predecessor to its actions.     

关于固定资产分类、代码的编制与应用效果分析

固定资产是企业发展的重要物质基础,对固定资产的掌控效果决定了企业发展规划管理的能力,而固定资产的分类与管理是一项繁杂的工作。本文将简要概述固定资产的分类和相关标准,探讨固定资产分类的优化方案,并研究固定资产分类后的代码编制,分析固定资产编码在管理中的应用,以期为固定资产信息化管理提供一定参考。     

企业领导者道本心智模式构念开发——基于扎根理论编码技术的研究

运用扎根理论编码技术，以《道德经》为研究文本，开发了企业领导者道本心智模式的构念体系，并分析了各维度之间的逻辑关系。研究发现：道本心智模式主要由哲学思维、道本行为、至善信念和合一目标四个维度组成。通过与现有心智模式理论进行比较分析，发现道本心智模式在研究视角、关注重点和追求目标等方面有所创新，并为企业管理实践中领导者心智的修炼提供了方向。     

RS码编码参数的盲识别

针对现有的RS（Reed-Solomon）码盲识别计算复杂度较大的问题，提出了一种新的识别方法。首先统计不同码长分组时的码重分布，并定义与理论码重分布之间的相似度系数，通过计算找出最相似的一组即对应正确的码长；然后建立二元假设，并确定判决门限对码根进行判定；通过遍历域内所有的本原多项式，找出完整的连续码根分布，进而完成生成多项式的识别。仿真结果表明，所提方法的计算量较其他方法明显减少，并能有效完成码长和生成多项式的识别，在误码率小于10－3时，对常用RS码的识别率能达到90%以上。     

一种非线性信道MIMO-OFDM系统性能改进算法

多输入多输出正交频分复用(MIMO-OFDM)可以提高系统在频率选择性衰落信道的传输性能.与OFDM系统一样,MIMO-OFDM系统也存在高峰值平均功率比(PAPR)的问题.为此,提出了一种降低空时分组编码MIMO-OFDM系统PAPR的正交部分传输序列算法,运用这种算法,利用傅里叶变换的性质,通过调整空时编码与基带正交调制的顺序,对两天线发射端,可以降低算法近一半的复杂度,且可以减少一半的边信息.利用高功率放大器的非线性模型,得到了瑞利衰落信道下PAPR降低后系统的误码率性能.仿真结果证明了该方法的有效性.     

基于场景理论的历史性城市景观消费 空间感知研究

消费主义时代的空间生产以符号审美为表征，消费者通过感知符号特征完成对消费空间文化意义的解读。基于此，选取上海音乐谷作为研究对象，借用场景理论探讨由生活文化设施组成的场景如何影响历史性城市景观的感知。通过利用主轴编码技术分析消费者网络点评数据发现：在音乐谷历史性城市景观中，消费者对于由消费空间构成的“现代化享乐场景”感知度最强。从历史性城市景观由“消费空间”向“空间消费”让渡的现实出发，指出当代历史空间的日常“使用价值”开始让位于经济“符号价值”；空间的消费性超越社会性与文化性，成为消费者感知历史性城市景观的主要方式。由此提出：在现代消费空间的地方性建构过程中，保持地方文化原真性的同时满足人们现代化消费需求，是历史性城市景观未来可持续发展的方向。     

Destination loyalty and repeat behaviour: an application of optimum stimulation measurement

This paper reports on a study of consumer loyalty in the holiday destination selection process. The study does not define loyalty, but attempts to contribute to an understanding of the concept by applying a psychological measure of variety seeking directly to patterns of holiday destination choice. The measure used is based on the optimum stimulation level (OSL) concept. The guiding proposition in this study was that tourists with a high need for variety would display a varied pattern in their vacation destination selection and this assumption is modestly supported by the empirical findings. The results suggest that further experimentation with the OSL would be fruitful when combined with attitudinal measures and with precisely defined sets of tourist behaviours. Copyright © 2004 John Wiley & Sons, Ltd.