Does more finance mean more inequality in times of crisis?

Many recent empirical studies show that both banking crises and financial development (FD) play an important role in understanding the dynamics of income inequality (IncI) over the last decades. However, so far no study has investigated the role of FD in the amplification of IncI following banking crises. This paper seeks to address this issue based on a sample of 69 banking crises in 54 countries over the 1977–2013 period. Our analysis suggests that FD is associated with a significant increase in IncI in the aftermath of banking crises. This result is robust to a broad range of alternative specifications and is unaffected by various potential sources of endogeneity. We also show that the relationship between FD and the redistributive consequences of banking crises is not subject to a threshold effect and is stronger for developing countries.     

Behind rising inequality and falling growth

This paper investigates why the upsurge of top income shares has coincided with economic slowdowns in the US since the late 1970s. I argue that a fast-growing unearned income from ‘wealth residual’ – the unexplained increase in wealth that is not accompanied by any increase in real output – lies behind them. To support this hypothesis, I measure wealth residual from the national accounts and associated statistics, and then perform a set of panel regressions using a comprehensive panel dataset of the US at the state level. The estimation results demonstrate that the rapid growth of wealth residual during the last four decades has contributed to a co-evolution of fast-growing inequality and falling growth.     

设施直线型自动布置的算法之二

基于从至表矩阵变换,给出了设施直线型自动布置一种算法,数值实验表明这种方法是十分有效的。     

一种改进的非凸秩最小化算法及其在矩阵恢复中的应用

在分析现有处理矩阵恢复问题的非凸秩最小化算法的基础上,提出了一种基于超松弛迭代的改进算法,并给出了松弛因子ω的确定准则。仿真实验表明:在惩罚参数选取较大的情形下,改进算法较原算法具有更快的收敛速度及更高的收敛精度,同时展示了基于非凸秩最小化算法的矩阵恢复技术在图像去噪中的应用。     

Multiple Levels of Corporate Sustainability

According to Dr. Clare Graves, mankind has developed eight core value systems,1 as responses to prevailing circumstances. Given different contexts and value systems, a one-solution-fits-all concept of corporate sustainability is not reasonable. Therefore, this paper presents various definitions and forms of sustainability, each linked to specific (societal) circumstances and related value systems. A sustainability matrix– an essential element of the overall European Corporate Sustainability Framework – is described showing six types of organizations at different developmental stages, with different forms of corporate sustainability, each supported by specific institutional arrangements.     

一个与供应链协同的虚拟价值网集成增值矩阵

运用集成原理及系统方法论探讨了虚拟价值网集成的结构机理,从集成意义上构造了一个与供应链协同的增值矩阵,即基于信息共享、知识共享、价值共享的三个平台,虚拟实现与工作流、知识流、价值流协同的供应链上的信息流、财务流和物流增值。同时作出虚拟价值网集成管理的优化树图,为现行供应链管理模式的优化升级提供模拟支持和方法选择。     

基尼系数及其实际应用

基尼系数是国际和国内分析收入分配差距的常用定量指标之一。系统介绍了基尼系数的含义、计算方法及其实际应用,并用基尼系数分解法分解了城乡差距、地区差距和收入差距来源构成,为分析收入分配差距提供了方法和统计依据。     

虚拟企业的组织本质解释

虚拟企业作为一种新型的组织形式 ,目前 ,国内外许多的经济学家、管理学家已对其进行了多方面的研究 ,如虚拟企业的产生、定义、特点、优势等 ,但是 ,并未曾涉及虚拟企业的组织本质。采用“交易费用”理论来解释虚拟企业的产生、存在的原因 ,进而揭露其组织本质———企业间的矩阵结构。     

浅析波士顿矩阵法的局限

波士顿矩阵法是最常见的业务投资组合分析方法。然而,由于波士顿矩阵法存在诸如市场增长率及相对市场份额分界点划分不合理等现象,忽视了企业各业务间的关联性,且受不符合现代理财观念,不适合小企业及营销环境变化较大的情形等局限。因此,不能单纯依据波士顿矩阵法的结论进行业务投资组合决策。