Mortgage market credit conditions and U.S. Presidential elections

Voters punish incumbent Presidential candidates for contractions in the county-level supply of mortgage credit during market-wide contractions of credit, but do not reward them for expansions in mortgage credit supply in boom times. Our primary focus is the Presidential election of 2008, which followed an unprecedented swing from very generous mortgage underwriting standards to a severe contraction of mortgage credit. Voters responded to the credit crunch by shifting their support away from the Republican Presidential candidate in 2008. That shift was large and particularly pronounced in states that typically vote Republican, and in swing states. Without it McCain would have received half the votes needed in nine crucial swing states to reverse the outcome of the election. We extend our analysis to the Presidential elections from 1996 to 2012 and find that voters only react to contractions, not expansions, of credit, and reactions are similar for Democratic and Republican incumbent parties.     

基于供应链管理的发电企业物资采购研究

物资采购是企业管理中极其重要的组成部分,运用合理的采购模式不仅可以提高工作效率,而且还能降低成本。从这一点出发,论文分析了供应链管理的内容及内涵,并根据准时采购、全球采购和集中采购的模式提出发电企业供应链管理策略。     

Money,Asset Prices,and the Liquidity Premium

This paper examines the effect of monetary policy on the market value of the liquidity services that financial assets provide, known as the liquidity premium. The theory predicts that money supply and nominal interest rates have positive effects on the liquidity premium, but asset supply has a negative effect. The empirical analysis with U.S. data confirms the theoretical predictions. The theory also proposes that the liquidity properties of assets can cause negative nominal yields when the money holding cost is low and liquid assets are scarce. The suggestive empirical findings in Switzerland to support this theoretical result are presented.     

分散决策下的双渠道供应链补偿策略——基于消费者渠道选择行为

为了有效解决由于对消费者的争夺从而引发的渠道之间关于定价、服务水平、利润等方面的冲突,基于消费者渠道选择行为,构建了网络直销市场与传统零售市场需求模型和双渠道供应链利润模型,运用Stackelberg模型,在制造商与零售商实施分决策时,通过制造商对零售商实施补偿激励前后的对比,分析了消费者渠道选择行为对网络直销渠道和传统零售渠道定价、制造商与零售商利润以及供应链总利润的影响,并求得最优定价及制造商的最优补偿额度和零售商的最优销售努力水平,进行了不同情况下的双渠道供应链利润的比较分析。结果表明,无论制造商是否实施补偿激励,都应随着网络消费者比例的增加而增加其网络直销价格;零售商的零售渠道价格应根据网络消费者比例的增加先降低到一定水平后再提升。当更多的消费者选择网络直销渠道时,制造商的补偿激励水平和零售商的销售努力程度均会下降。制造商应提高其补偿水平,进而激发零售商提高销售的努力水平,并使双方利润及供应链总利润最大化。研究结果为基于消费者选择行为的供应链补偿研究提供了新方法,对双渠道的供应链补偿研究有借鉴意义。     

Is Supply's Actual Contribution to Sustainable Development Strategic and Operational?

This paper addresses the issue of how sustainable supply practices are actually used as a leverage for sustainable development (SD). In order to assess the level of sustainable supply management within an organization, the authors have reviewed the literature extensively and then developed a five‐step maturity model around five management dimensions. A qualitative exploratory approach based on two detailed case studies of organizations whose reputation for SD is recognized internationally has been used. This methodology allowed us to show (1) how sustainable supply practices could be used as a leverage for an organization's sustainable development approach and (2) that sustainable supply practices still have quite a distance to go with regards to the maturity model for sustainable supply, even in organizations that are often mentioned as leaders in the SD area. In these organizations, managers still emphasize environmental considerations, while neglecting practices that would make it possible to reach the three SD objectives simultaneously. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment     

Intercountry feedback and spillover effects within the international supply and use framework: a Bayesian perspective*

This paper proposes a new framework for the estimation of product-level global and interregional feedback and spillover (FS) factor multipliers. The framework is directly based on interregional supply and use tables (SUTs) that could be rectangular and gives a possibility of taking account of the inherent input–output data uncertainty problems. A Bayesian econometric approach is applied to the framework using the first version of international SUTs in the World Input–Output Database. The obtained estimates of the global and intercountry FS output effects are discussed and presented at the world, country and product levels for the period of 1995–2009.     

兼并模式下再制造O2O供应链运作决策研究

零售商之间的兼并普遍存在于商业活动中,涉及两种情景下的O2O(online to offline)供应链决策模型:兼并前,制造商提供一种产品(包括新产品和再制造品)给两个零售商(模型P);兼并后,制造商将此产品批发给一个更强大的双线经营的零售商(模型M)。研究表明:模型P中新产品数量低于模型M,但再制造品数量高于模型M;与模型P相比,模型M提高了双线经营的零售商的经济效益,但削减了制造商和产业的利润。     

发展竞争、土地供应策略互动与城市用地增长——基于252个城市数据的空间面板模型实证检验

研究目的：针对发展竞争驱动下产生的地方政府土地供应策略，从空间维度上展开进一步分析，解析城市土地供应行为中存在着怎样的空间互动关系。研究方法：运用2007—2017年的城市层面面板数据和空间计量模型进行了实证检验。研究结果：（1）服务于发展竞争的土地供应策略，对本城市和周边城市的用地增长都会产生影响；（2）工业用地价格波动与商住用地价格波动都会产生空间溢出效应，且前者产生的空间溢出效应更强；（3）工业用地价格存在“竞次式”的城市间互动，其价格增长会显著抑制本城市的用地扩张，但会促进周边城市的用地增长；（4）商住用地价格提升会促进本城市用地扩张，并抑制周边城市用地扩张；（5）作为因变量的城市用地规模，在同省/异省的城市间分别存在着“彼此促进”和“此消彼长”两种互动关系。研究结论：区域协调、用地增长两个方面要紧密结合，针对工业用地价格“竞次式”竞争和商住用地价格高价出让，从城市间关系协调入手进行调控政策的设计与创新。     

Farm and farmer characteristics and off‐farm work: evidence from Algeria

Off‐farm work is a widespread, two‐edged, phenomenon that can help both the survival and the demise of small‐ and medium‐sized agricultural exploitations. Given the prevalence of poverty in rural areas, nonfarm income has been credited with helping farmers to survive. But the observed shrinking of rural areas has also raised the question of whether off‐farm work is pulling farmers permanently away from farming. This paper explores the impact of farmer characteristics on the decision to work off‐farm in developing countries where this phenomenon has been largely neglected. A review of theory and prior empirical work suggests four main hypotheses which we test empirically. The results suggest that while some farmer characteristics appear to be universal, others appear to be country‐ or culture‐specific.     

标识解析与区块链技术在供应链管理上的集成应用

供应链成员彼此间的信息可信共享是实现供应链"四流合一"发展模式的技术基础.通过对传统供应链管理存在的诸多痛点进行分析,将工业互联网标识解析体系和区块链技术进行集成应用到供应链管理领域,形成一种新型的供应链管理解决方案.方案采用标识解析体系将供应链各信息流的异构数据统一映射到资源池,依托区块链技术去中心化及数据不可篡改等特点,将资源池标识数据进行分配及管理,保证供应链标识数据的安全存储与解析,构建互信共赢的供应链生态体系,实现产业链上下游企业协同.