新时期企业家的新思维

近年来 ,人们不断讨论中国的二板市场是否应该建立及怎样建立。其中支持方的一个重要论据就是二板市场能够为风险投资的退出发挥巨大作用。然而 ,笔者经过分析认为 ,由于二板市场自身的不足和风险投资的内在特点 ,二板市场对于风险投资退出的作用是有限的。即要想解决风险资本     

U.S. Common stock prices, 1871–1970: playing with dummies

The received wisdom that the levels of many economic time series are generated by processes with a unit autoregressive root has been called into question by recent work of Perron. When break points, or interventions, in the time series are allowed it emerges that the unit roots hypothesis can often be rejected at quite low significance levels. Taking for illustration a single time series, U.S. common stock prices, we demonstrate that Perron's conclusions are very sensitive to the choice of break point, and that the data contain little support for the particular choice imposed by Perron.     

二外学习者使用学习策略情况的对比研究(英文)

本文研究了英语专业本科生和研究生在学习第二外语"日语"时所使用学习策略的差异。基于对调查问卷的分析,其各自特征如下:(1)在学习二外的过程中,英语专业研究生总体使用学习策略的频率略高于本科生;(2)针对各类学习策略,英语专业研究生的使用频率均高于本科生。作者提出了如何帮助本科生使用学习策略的建议。     

Currency Unions: Some Lessons from the Euro-Zone

Whilst there are many sizeable benefits from currency union, the main disadvantage is often the difficulty of adjusting to an asymmetric shock. Such adjustment is easier when the separate countries (regions) in such a union have flexible labour markets, and when there is a federal fiscal system to ease the adjustment process. The euro-zone has neither. We show that the trends in relative unit labour costs have in several recent cases been worsening relative competitiveness, thereby putting the euro-zone under greater centrifugal pressure. Nevertheless the costs of ‘exit’ are so high that it would only probably occur as a consequence of political mis-calculation.

MDF列告警单元的工作原理及电路实现

本文对MDF远端集中监控系统进行了系统性概述，重点介绍了系统中列告警单元的工作原理以及电路实现。     

A cointegration rank test of market linkages with an application to the U.S. natural gas industry

This research applies recently developed cointegration techniques to the measurement of market linkages when the data are nonstationary. Likelihood based tests for cointegration are applied to data from natural gas spot markets. The results indicate that natural gas spot markets at dispersed locations in the pipeline network are strongly connected. Most of the market pairs examined in the gas pipeline network satisfy a more stringent condition for perfect market integration.     

Purchasing Power Parity during Currency Crises: A Panel Unit Root Test under Structural Breaks

We investigate the stationarity of real exchange rates using a panel of Asian and South and Latin American countries by applying a new panel unit root test that is robust to structural breaks due to currency crises. It turns out that the long-run PPP relationship is relevant for the Asian countries, which experienced a flexible exchange rate, whereas for the South and Latin American countries, for which the exchange rate has been pegged to the U.S. dollar for a long time, the PPP relationship breaks down. In Asian countries PPP appears to hold before the 1997 crisis, which is not the case for the South and Latin American countries. This suggests that the Asian flu corresponds to a second-generation type of crises, whereas the 1995 Mexican tequila fits the first-generation models better. JEL no. C13, C33, E41     

Doomed to Deficits? Aggregate U.S. Trade Flows Re-Examined

This paper examines the stability of import and export demand functions for the United States over the 1975q1–2001q2 period. Using the Johansen maximum likelihood approach, an export demand function is readily identified. In contrast, there appears to be a structural break in the import demand function in 1995; specifications incorporating this break pass tests for cointegration, although the price elasticity is not statistically significant. Only when excluding computers and parts from the import series is a stable import demand function detected. The resulting point estimates confirm the persistence of the income asymmetry first noted by Houthakker and Magee, although in a slightly diminished form. One policy implication of these findings is that dollar depreciation—unaccompanied by a realignment of growth trends—is insufficient to substantially reduce the U.S. trade deficit. JEL no. F31, F41     

潜油电泵机组质量可靠性分析与评定

通过对潜油电泵机组现场故障数据的统计处理，运用Monte—Carlo统计模拟法，进行数字仿真，得到系统使用寿命统计模型，实现对潜油电泵机组使用可靠性定量评定。通过对其最小割集故障数据子样的显著性检验，推断其总体寿命的可靠度，为生产厂家改进设计，进行科学管理．提高经济效益提供了理论依据。     

变系数二阶微分方程解的有界性

讨论二阶微分方程x"(t)+p(t)x'(t)+q(t)f(x)=r(t)解的有界性问题,并给出了判定其解有界的方法.