LOCAL GOVERNMENTS,UNEXPECTED DEPRECIATION AND FINANCIAL PERFORMANCE ADJUSTMENT

Prior management and manipulation of financial accounting information research has overwhelmingly been focused within a private sector setting. This study adopts a public sector focus in empirically examining the use of a specific discretionary accrual (i.e., depreciation) to adjust the financial performance of New South Wales (Australia) local governments. Findings indicate a significant positive association between absolute unexpected depreciation and absolute local government income before capital contributions, and a significant positive association between absolute unexpected depreciation and capital contributions. Overall, the results make significant contributions to various literature streams with implications for various stakeholders interested in local governmental financial performance.     

Location factors of FDI and the growing services economy1

Foreign direct investment (FDI) has increasingly shifted toward the service sector. This change in the industrial composition of FDI and the non‐tradable nature of services may have altered the importance of location factors for investment decisions. To capture potential changes in FDI determinants, a contrasting sectoral analysis is performed. Based on FDI stock data from eight new EU member states for the period 1998–2004, we implement a dynamic panel approach allowing the speed of adjustment to the equilibrium investment level to vary across sectors. Results support our assumption that investment into the service sector, which is characterized by low installation costs, adjusts much faster to its desired level than manufacturing FDI. Thus, government interventions to attract FDI are likely to boost the service sector immediately while having a slower impact on manufacturing FDI. Furthermore, as services are mostly non‐tradable, FDI into this sector is largely based on market‐seeking motives while FDI in the manufacturing sector is also driven by international price competitiveness measured by real unit labour costs.     

Downward wage rigidity and business cycle asymmetries

The growth rates of wages, unemployment and output of a number of OECD countries have a strongly skewed distribution. In this paper we analyze to what extent downward wage rigidities can explain these empirical business cycle asymmetries. To this aim, we introduce asymmetric wage adjustment costs in a New-Keynesian DSGE model with search and matching frictions in the labor market. Increasing wages is less costly than cutting them. It follows that wages increase relatively fast and thus limit vacancy posting and employment creation, but they decline more slowly, leading to a strong reduction in vacancies and employment. The presence of downward wage rigidities strongly improves the fit of the model to the observed skewness of labor market variables and the relative length of expansions and contractions in the output and the employment cycles. The asymmetry also explains the differing transmission of positive and negative monetary policy shocks from wages to inflation.     

浅析大学毕业生的职业适应与角色转换问题

大学生从学校步入社会,经历的是一种角色的转变过程,在扮演了十几年学生角色的影响下,进入崭新的社会角色后必然会有诸多不适应,因此准确把握大学毕业生角色转变过程的心理是有效解决帮助大学生适应职业生涯的前提和基础,这将直接关系到大学生的职业发展。     

下动式折弯机几何精度调整

文章以AMADA公司生产的RG系列折弯机为例,介绍下动式折弯机几何精度调整的方法,为同类设备精度调整提供了参考。     

出口导向型企业在目前经济形势下的调整

改革开放以来,出口导向型发展模式大大地推动了出口贸易的迅速发展,加快了产业结构调整与升级,提升了我国的国际地位和影响力,促进了国民经济持续稳定增长。但是,随着国际经济环境和国内宏观经济的变化,出口导向型发展模式面临着许多风险,我国应改变粗放型出口增长方式,提高劳动生产率和科技水平,提高内需对经济增长的拉动作用,加快科技创新,提高核心竞争力。     

金融自由化、非对称调整与新兴市场的金融危机

二战后,新兴市场经济(EMS)也存在广泛的金融抑制。抑制政策可能有短期增长效应;但本文理论模型显示,长期内,竞争机制会耗散金融租金,EMS实际增长率低于有保障和自然的增长率。70年代末期以来,EMS放松了金融规制。因价格调整快于数量调整、金融市场调整快于产品和劳动力市场,金融自由化产生负产出效应。负产出是基本的风险源。来自于金融、实际部门的任何冲击以及制度与政策失灵,都可能引发金融危机。抑制程度越深,负产出效应越大,人均产出越低,自由化过程中发生金融危机的概率也越大。本文使用25个国家1980～2001年的数据,以二元选择模型对上述假说进行实证检验。     

金融危机再解读:逻辑演绎与经验归纳

2007年次贷危机爆发,并由此蔓延为一次金融危机,但本质上依旧是有效需求不足和过度供给之间矛盾的爆发,只是在全球化的背景下具有了新的特点。信用工具的扩张即金融创新只是加剧了危机的烈度,并不是危机的根源,最多是诱发因素。次贷危机实际是发达国家总需求管理政策失败的一个表现,即经济的结构性问题不解决,传统的宏观经济政策工具,尤其是货币政策工具,只是拖延了危机爆发的时间。这个结论对我国经济结构调整和长期发展具有显著的警示意义。     

流转税收入分配调节功能初探

流转税不仅是筹集财政收入的重要手段，而且还具有一定的收入分配调节功能。近几年来我国税收不断超收，流转税作为我国的主体税种在组织财政收入方面的作用发挥的比较好，但其在调节收入分配方面的作用却表现不足，导致流转税调节收入分配乏力的主要原因是现行的流转税设计存在一些问题，因此只有改革和完善现行流转税制，才能更好地发挥流转税的收入分配调节功能。     

某高校活动中心预应力钢筋混凝土折线形屋架吊装变形控制

广西某高校活动中心观众厅施工项目，采用预应力钢筋混凝土折线形屋架，在吊装就位过程中，由于施工场地窄小，建筑设备工作区受影响，使得屋架上弦垂直度超过国家规定允许的偏差值，尤其是相邻屋架上弦梁出现不同方向挠度变形，导致1．5m×6．0m预应力大型屋面板一端悬空的难题。文章就这一难题进行了分析，指出在预应力钢筋混凝土折线形屋架吊装施工过程中应精心组织，严格执行国家相关法律、法规、规范，以控制预应力钢筋混凝土折线形屋架出现变形，有利于保证施工质量。