THE WORLDPAPER

８月１７日发生在马尔马拉海的地震不仅震动了土耳其西北部，而且震惊了土耳其政府。官员被严厉指责隐瞒了在地震中死亡，失踪的人数，以及没有提供足够的人力和物力进行援救。自从 １９３９年以来，土耳其遭受了七次七级以上的地震。地震一个月后，阿达帕扎勒的居民开始忿忿不平地向电视记者抱怨他们急需的日用品和帐篷的供应分配极为糟糕。 由于缺乏协调以及受不同政治利益的影响等原因，土耳其三党联合政府极为不和睦。卫生部长是一位极端民族主义者，他声称土耳其政府能控制一切，无需外援。然而社会民主主义者的总理驳斥了卫生部长的主…     

MOVING THE ELEPHANT

Manmohan Singh became Prime Ministerof Indiain May 2004after the Congress Party regainedcontrolof thegovernment .He helpedstartIndiadown theroad toeconom -icreform as Finance Ministerin theearly 1990s during a previousCongress Partyadministratio.nFOR -TUNE ’s reportspoke with him dur-inghisvisitotheU .S.inSeptember.W hatdoes this year look like interm s ofG D P grow th?The lasttwo fiscalyearswe ’vehad a growth rateof over 7% . Thisyear we expect to repeatthatperfor-mance . If you …     

THE AEGON GROUP A LEADER IN THE WORLD'S INSURANCE MARKETS

Withitsmetsdatinghackhalfwaythelastcentury,theAEGONGrouphasbuiltitselfawealthofexperienceandknow-howintheinsuranceindustry.InitiallyaDutchcompany,theGroupwasformedin1983andhasgraduallyexpandeditsoperationsacrossmanyborders.Thisongoingprocessofinternationalization,mainlyasaresultofwell-aimedac-quisitions,hasgUidedusintoourcurrentposition:aleaderandinnovatorintheworld'sinsurancemarkets.AEGONistheeighthlargestinsurerintheworldintermsofassetsandthesixthintermsofmarketcapitalization.Atyearend…     

EXXON CORPORATION THE MOST PROFITABLE OIL COMPANY IN THE WORLD

Editor’sNotes：SincetheColumn《ForumforForeignMayor》wasopenedIn1991，wehavePublishedmorethan40articleswrittenbyforeignMayorsfrommorethan30countries．ThecolumnwasInterestedbyreadersandwritersoftheJournal，especiallybyChineseMayors．TheJournalhassponsored3DlllberatingConcerencesonInterna－tionalCityManagement，1993inFrance，1994InAustralia，1995inNewZealand．DuringthgconferenCes，wegotacqualntgdsomeenter。prizers，theyhopehaveachancetoexchangewithChineseenter·prizers．SotheJournald…     

THE SECRETS OF EXECUTION

Whyisitsohardtoreachagoal?Let’sfaceit:Weusuallyknowwhatdoto,it'sjustthatweloseourfocussomewherebetweenthoughtandaction.Littlesurprise,then,thatmanycompanieshaveexactlythesameproblem.Andthatsuccessfulcompa-niesturnouttobebetteratturningtheoryintopractice.…     

BOMBAY THROUGH THE AGES

Bombayisacityintendedt.obebuiltbyGod"saidGeraldAungier,whenhetookoverastheGovernorin1672.Bombaywasoriginallyasmallfishingvillageandremainedassuchtillthecudofthe15thcenturywhenafortuitouscircumstanceaideditsdevelopment--thefamousvoyageofVasco-de-GamaaroundtheCapeofGoodHopetoIndia,whichledtothePOrtuguesecolonisationoftheWesterncoastofIndia.ThedevelopmentofBombaywas,negleCtedbythePortugueseandnoeffortwasmadetoimprovetheislandsduringtheirrule.ThePortuguese,however,didcontributetothecity,anu…     

THE AMERICANIAZTION OF TOYOTA

The world's most profitable car company is adding some red, white, and blue to its corporate culture.     

GLASGOW - THE FRIENDLY CITY

THEHISTORICALCONTEXTGlasgowisScotland'slargestcity,locatedonthewestcoastonthehanksoftheRiverClyde.Itisacitywithalonganddistinguishedhistoryanditwassome1450yareagothatthemdpeoplesettledinGlasgowmakingalivingfromfishingandfarming.Thecityhasalwaysbenanimportantcentreforreligionandeducation,andwhileitgraduallygrewinsizeovertheyears,itwasnotuntilthemiddleofthe18thCentury,whentheimportsoftobaccofromAmericabroughtgreatwealthtothecity,thatithetoplayanimportantroleindieworld'seconomy.Overthen…     

WHY CAPELLAS FLEW THE COOP

InvestorsbarelyshruggedwhenMichaelD.CapellasquitaspresidentofHewlett-PackardCo.inNovembertotakethehelmatWorldComInc.AndCEOCarletonS.Fiorinadoesn’tlamentthelossofherNo.2,credit-edwithaturnaroundduringhistime asCEOatCompaqComputerCorp.“Frankly,hisleavingi…     

THE WORLD IS YOUR OFFICE

ＯｎｔｈｅｓｔｒｅｅｔｓｏｆｍａｊｏｒＥｕｒｏｐｅａｎｃａｐｉｔａｌｓｙｏｕｓｅｅｔｈｅｍｅｖｅｒｙｗｈｅｒｅ：ｓｃｏｒｅｓｏｆｗｅｌｌ -ｄｒｅｓｓｅｄ，ｓｅｅｍｉｎｇｌｙｗｅｌｌ -ａｄｊｕｓｔｅｄｐｅｏｐｌｅｈｏｌｄｉｎｇａｎｉ ｍａｔｅｄｃｏｎｖｅｒｓａｔｉｏｎｓｗｉｔｈｎｏｂｏｄｙｗｈａｔｓｏｅｖｅｒ．Ｌｏｏｋｃｌｏｓｅｒ，ｔｈｏｕｇｈ，ａｎｄｙｏｕ＇ｌｌｓｅｅｔｈａｔＥｕｒｏｐｅ＇ｓｐｒｏｆｅｓｓｉｏｎａｌｃｌａｓｓｅｓｈａｖｅｎｏｔｒｅａｌｌｙｇｏｎｅｃｏｌｌｅｃｔｉｖｅｌｙｂａｌｍｙ…     

MONSTERS ON THE HIGH SEAS

As China’s exports swell,Korea and Japan are launching gargantuan container ships Inthespringof2000,30man-agersfro…     

THE EFFECTS OF TECHNOLOGICAL CHANGE ON THE QUALITY AND VARIETY OF INFORMATION PRODUCTS†

Anecdotal evidence suggests that producers of information products (TV programs, movies, computer software) may respond to potentially cost-saving technological change by increasing, rather than reducing, their total production investments in the ‘first copy’ of each product, possibly at the expense of product variety. Comparative statics show that under reasonable assumptions about consumer demand and production technology, competitive firms in a monopolistically competitive industry are in fact induced to increase first-copy investments as a result of either what we define as ‘quality-enhancing’ or ‘cost-reducing’ types of technological advance, whereas product variety either falls or stays the same. Results suggest that contrary to often held expectations, potentially cost-saving technological advances in information industries may result in greater market concentration.     

HOW TO VALUE THE POORER PROSPECTS OF YOUTH IN THE EARLY 1990s?

Young workers in the 1990s can expect greater economic insecurity, as well as lower average earnings, compared to older workers, or compared to the youth of previous decades. The cost of greater insecurity depends upon an individual's probability of unemployment, marginal utility of income gains/losses and the extent to which individuals can smooth consumption over time by borrowing and drawing down assets. Since unemployment insurance cutbacks and higher unemployment have increased the risk exposure of youth, changes in the expected value of their income may understate utility losses as measured by the change in certainty equivalent income.
This paper uses a behavioural microsimulation model to compare the impacts of 1971 and 1994 unemployment insurance legislation and unemployment rates in Canada. It calculates both the expected value of income changes and, using a Stone-Geary utility function, the change in inequality of well-being (as measured by certainty equivalent income) for youth and for prime age workers. Both calculations reveal that youth were disproportionately affected by Canada's changing labour market environment. Very few youth have enough assets to finance consumption during spells of unemployment.     

DOES APPRECIATION OF THE RENMINBI DECREASE IMPORTS TO THE UNITED STATES FROM CHINA?

In 2005, China abated its fixed exchange rate against the U.S. dollar and began to appreciate the Renminbi (RMB). In this paper, I explore the effect of the appreciation of the RMB on imports to the United States from China by augmenting the gravity model with the exchange rate. Using an industrial panel data set during the period 2002–2008 and controlling for the endogeneity of the bilateral exchange rate, this extensive empirical analysis suggests that the appreciation of the RMB against the U.S. dollar significantly reduced imports to the United States from China. This finding is robust to a variety of econometric methods and to coverage in different periods. (JEL F1, F2)     

TOYOHASHI OF THE 21ST CENTURY

AN OUTLINE OF TOYOHASHIToyohashi lies in the center of Japan and is rich with nature and blessed with a mild climate. With efficient transportation provided by the Tokaido Shikansen super - express train service as well as access to the Tomei Expressway, agriculture,manufacturing, and service industries all flourish in Toyohashi with a pleasant balance. With a population around 360,000people, it is the 2nd largest city in Aichi prefecture.Reflecting back at ancient history, evidence…     

DOES THE MISSION OF PROVIDERS MATTER ON A QUASI‐MARKET? THE CASE OF THE BELGIAN ‘SERVICE VOUCHER’ SCHEME

ABSTRACT 1 : In 2001, the Belgian government introduced a ‘service voucher’ scheme in the field of domestic (housework) services, following a quasi‐market mechanism which fosters competition between providers of different types as regards sector (for‐profit, public, third sector) and mission (seeking profits, home care provision to vulnerable groups and work integration of the unemployed). Empirical evidence suggests that third sector organizations focusing on a social mission recognized by a tutelary regulation are the best performing with regards to the quality of jobs and service organization, leading to a better ‘triangulation’ of the service relationship. On the other hand, for‐profit providers, especially temporary work agencies, seem to favour their capacity of adaptation to the desiderata of their clients and costs’ minimization to the detriment of the quality of jobs which are made as flexible as possible.     

THE FIRST JOURNAL OF ECOLOGICAL ECONOMY ALL OVER THE WORLD Ecological Economy (English Version)

Improved on the basis of the Chinese version Ecological Economy, the English version Ecological Economy (CN53-ISSN1673-0178) is sponsored by Yunnan Education Publishing House and Sichuan University of ScienceThe first issue of it has been published in January. 2005.concerning ecology and serving economy, aimed at constructing a harmonious society of man andVersion Ecological Economy focuses on the sustainable development of economy and theon theories, methods and technical innovations …     

TRADE: A VISION FOR THE FUTURE

WhatIwouldreallytodotodayistalkaboutmyvisionforworldtradeLifeonourplanisswiftlychanging,andthisbringsbothopportunityandchallenge.Ithindwehaveachoice.Wecanleadandsucceed,orfollowandfail.Knowingtherightmove,attherigthtime,iskeyinchase,inlife,inbusiness,intrade.Ibelieveopentradeisthekeytooursuccessintheupcomingglobalcentury.Andnowisthetime!Iwouldliketodetwopremisesandthenaconclusion:Firstpremise:Technologyhasandwillincreasinglylinkustogetherasaglobalcommunity.Secondpremise:Marketeconomieswork…     

THE 2007–2008 U.S. RECESSION: WHAT DID THE REAL‐TIME GOOGLE TRENDS DATA TELL THE UNITED STATES?

In the extant literature of business cycle predictions, the signals for business cycle turning points are generally issued with a lag of at least 5 months. In this paper, we make use of a novel and timely indicator—the Google search volume data—to help to improve the timeliness of business cycle turning point identification. We identify multiple query terms to capture the real‐time public concern on the aggregate economy, the credit market, and the labor market condition. We incorporate the query indices in a Markov‐switching framework and successfully “nowcast” the peak date within a month that the turning occurred. (JEL E37, G17)