U.S. Strategic Trade Policy and the Competitiveness of the U.S. Construction Industry in Developing Country Markets

SUMMARY

U.S. government trade policy increasingly reflects “strategic trade” beliefs that, because competition in markets is imperfect, governments can act strategically to affect trade flows and enhance national welfare. The U.S. National Export Strategy targets the infrastructure sector in twelve developing countries as a strategic opportunity for U.S. construction firms. This paper examines whether U.S. government export promotion initiatives effectively implement strategic trade policy by providing appropriate support to these firms in that target market. It concludes that, within limits, they do.     

U.S. University Research Parks

University research parks are important as a mechanism for the transfer of academic research findings, as a source of knowledge spillovers, and as a catalyst for national and regional economic growth. We develop a model to describe the growth, or productivity, of research parks, and we test this model using the newly constructed National Science Foundation database on university research parks. We find that parks closer to the university, operated by a private organization, and with a specific technology focus—information technology in particular—grow faster than the average of 8.4% per year.     

On Perennial Re-examination of the U.S. Constitution

Abstract . The United States Constitution is still shrouded in myths, clothed in broad terms and garbed with ambiguities. These require constant reinterpretation. If a continuing constitutional convention is thus endemic to the American political system, then is it, as Jefferson said, “a mere thing of wax in the hands of the judiciary”? Justice Jackson wrote that “we are infallible only because we are final,” but it is a maxim of American politics that the Court follows the election returns. In the last analysis, there is a higher court in a republican democracy, the Court of Public Opinion (of which scholars and publicists are the officers) which achieves revision by periodic reinterpretation and re-examination.     

双环“小贵族”从美国起跑

如果相关政策出台,小贵族电动汽车因为有在美国积累的市场推广及售后服务经验．在中国市场肯定也会卖得很好.     

美国是如何管理城市的

为了学习和借鉴美国大城市管理的经验 ,由市委研究室、市市政管委、市国土资源和房屋管理局等课题参与单位组成的北京市城市管理考察团 ,从2 0 0 1年 9月 4日至 9月 1 4日 ,先后对美国首都华盛顿、纽约、旧金山、洛杉矶等主要城市进行访问考察 ,与华盛顿市政府、美国住房和城市发展部、斯坦福研究中心、乔治梅森大学公共政策院、世界银行东亚及太平洋地区城市发展部、洛杉矶市政府城市规划局等单位的政府官员和专家学者 ,就城市管理理论研究和实践探索领域的有关内容开展交流 ,取得了预期效果。　　一、美国城市管理的一些成功做法　　通过…     

International trade and the U.S. wage structure

Politicians are concerned about the effects of increased foreign trade on U.S. workers. Data from 1978 to 1987 are used to appraise the impact of foreign trade on U.S. manufacturing wages. The results indicate that wages are positively associated with a sector’s level of international comparative advantage. However, this follows from other characteristics aside from the net trade balance. These characteristics may include rent sharing or international technological convergence. Imports and exports also influence wages, where this impact varies with the industry’s unionization. Regardless, the results suggest that greater trade is not a major cause of the decline in U.S. real wages.     

Predictability of the U.S. Dollar Index using a U.S. export and import price index-based relative PPP model

We use U.S. export and import price indexes to construct a relative purchasing power parity-based model of the nominal U.S. Dollar Index. The model is successful in predicting the future direction of change in the U.S. Dollar Index over a six-month period up to 68% of the time. Finally, the model, in combination with a simple linear, recursive technique, is able to statistically significantly outperform the random walk in predicting the value of the U.S. Dollar Index at terms of less than four months for the period from 1996 to 2005. The paper provides important implications for investors who are interested in the direction of change in the Dollar’s value, forecasting the level of the U.S. Dollar Index, as well as the extent of over- and undervaluation of the U.S. Dollar, in general.     

美国企业的实时供应链

IBM公司的实时供应链 说起美国企业的实时供应链,有必要先介绍始建于1914年的美国国际商业机器公司(IBM).这家世界规模最大的信息工业跨国公司之一,拥有全球雇员20多万人,业务遍及150多个国家和地区.     

ON THE U.S. BUDGET DEFICIT

By the end of 1985 the USA will bo the most heavily indebted nation on the planet. Professor G. K. Shaw of the University of Buckingham and Geoffrey Wood of the City University Business School differ on Reagan's budgetary policy.     

Cross-listing in the U.S. and domestic investor protection

Using the change in ordinary dividend payout as a proxy for improved governance, we show that cross-listing in the U.S. is associated with enhanced protection for the minority ordinary shareholders of exchange-listed non-U.S. firms. These firms substitute dividends for enhanced governance. We find no such effect for Rule 144a Portal firms. Interestingly, we document evidence inconsistent with the legal bonding hypothesis for Level 1 OTC firms. We believe that their ability to pay lower dividends post-listing is primarily due to their ability to credibly commit to fair treatment of their minority investors, given their record for equitable treatment of their ordinary shareholders. They achieve this reputation by consistently paying out a sizable proportion of their earnings as dividends. In addition, we find that the firm-level governance of Level 1 OTC firms, as measured by the number of closely held shares improves in the post-listing period. We find no such effect for SEC Rule 144a traded firms. Our results have also important implications for the agency models of dividends.     

美国城市郊区化与都市区发展

一、美国城市化扩散与都市区的形成　　 1 美国城市郊区化过程美国从 19世纪末到 2 0世纪初开始城市郊区化过程 ,这一阶段多为富人对较高生活质量的追求而在通勤铁路线上出现“卧城”或称“乡村别墅区”。在2 0世纪 2 0～ 30年代 ,纽约、芝加哥等大城市郊区城镇人口开始超过市中心人口 ,但总体来说这一时期的城市人口超出郊区人口。二战后由于汽车与高速公路的发展推动了“大众郊区化” ,联邦政府和地方政府投入巨资兴建高速公路 ,至 2 0世纪 6 0年代高速公路网已深入乡间 ,中间阶级和高收入的蓝领工人纷纷涌入郊区。从 194 0年到 1970年 ,…     

Japanese and U.S. interventions in the yen/U.S. dollar market: estimating the monetary authorities’ reaction functions

This paper uses recently released official data on the foreign exchange market interventions of the Japanese monetary authorities in the yen/U.S. dollar market during the period 1991–2001 to examine the motivation for the intervention policy. We also compare the Japanese intervention policy with the U.S. intervention policy. Our results suggest that the Japanese authorities regularly responded to deviations of the yen/U.S. dollar exchange rate from a short-term and a long-term exchange rate target. By contrast, the U.S. authorities intervened only occasionally and seemed to have merely reinforced Japanese interventions.     

Technical change in the U.S. primary metals industry

A dual cost function embodying biased technical change is estimated for the postwar primary metals industry. The identifying restriction of constant rates of factor augmentation is used to derive significant estimates of rates of biased technical change which are consistent with the induced innovation hypothesis. Also, the bias in elasticity estimates which results from ignoring biased technical change is shown to be serious.