Why we should care for future generations now

This article argues that caring for future generations is a legitimate ethical concern that arises from our common humanity. The first section explores several reasons why this extension of concern is appropriate and desirable. The second considers a number of strategies for accomplishing this goal. It is argued that caring for future generations now has a number of ‘win—win’ outcomes. That is, it has positive implications for the well-being of present generations as well.     

Consumer-driven health care: the future is now

Given that managed care seems to have run its course, employers are forced to deal with escalating health care costs by reducing benefits and lowering pay--or are they? Why not bring the power of the responsible, informed consumer to health care? Consumer-driven health care offers a new, economically rational direction that can simultaneously address the needs of both employers and employees. This article reviews the factors leading to the need for consumer-driven health care and describes the characteristics and benefits of its current and next generations of development.     

Why prisons have become a growth industry

Unable to break out of the straightjacket of local authorities’ administrative areas and the bureaucratic concept of ‘need to spend,’ the Department of the Environment has come up with an index of deprivation that is, to say the least, counter‐intuitive. If it were to use better indicators and to focus on smaller areas, it would stand a better chance of directing resources to where they are most needed.     

Time-varying risk The case of the American computer industry

A bivariate GARCH-in-mean model for individual stock returns and the market portfolio is designed to model volatility and to test the conditional Capital Asset Pricing Model versus the conditional Residual Risk Model. We find that a univariate model of volatility for individual stock returns is misspecified. A joint modelling of the market return and the individual stock return shows that a major force driving the conditional variances of individual stocks is the history contained in the market return variance. We find that a conditional residual risk model, where the variance of the individual stock return is used to explain expected returns, is preferred to a conditional CAPM. We propose a partial ordering of securities according to their market risk using first and second order dominance criteria.     

Why a Funded Pension System is Needed and Why It is Not Needed

Based on explicit presentvalue calculations, the paper criticizes the view that the PAYGOsystem wastes economic resources. In present value terms, thereis nothing to be gained from a transition to a funded systemeven though the latter offers a permanently higher rate of return.The sum of the implicit and explicit tax burdens that resultfrom the need to respect the existing pension claims is the sameunder all systems and transition strategies. Nevertheless a partialtransition to a funded system may be a way to overcome the currentdemographic crisis because it replaces missing human capitalwith real capital and helps smooth tax and child rearing costsacross the generations.     

为什么中国投资导向的经济增长模式-不可持续

China＇ s economy has achieved great success during the last three decays. This greatly attributed to the investment-driven economic model. But now, this kind of development model seems unsustainable. The investment-driven model waste energy, widen the income gap and pollute the environment. China wants to rebalance from investment driven model to consumption-driven model.     

为什么中国投资导向的经济增长模式不可持续

China’s economy has achieved great success during the last three decays. This greatly attributed to the investment-driven economic model. But now, this kind of development model seems unsustainable. Th...     

中国的MBO何以变形

管理者并购近几年开始正式登陆中国，在四通集团实现管理者并购后，企业界开始大力探索中国的管理者并购之路。现阶段中国的经济体制尚处于计划经济与市场经济的转轨期，与西方发达国家的市场经济体制有着明显的不同．因而MBO在中国的应用有很大的变形．有着许多自身的特点     

Residence-Based Capital Taxation in a Small Open Economy: Why Information is Voluntarily Exchanged and Why it is Not

The issue of capital tax competition is viewed to be unproblematic if residence-based capital-taxation exists. However, the sustainability of residence-based capital taxation depends on the exchange of information about foreign financial investments between tax authorities. This paper analyzes the incentives of tax authorities to voluntarily provide information. We show that voluntary information exchange is an equilibrium in a standard small-country model of tax competition, whereas it may not be an equilibrium when the size of the financial sector has a positive impact on the wage structure of an economy.     

2003全国现金投放凶猛

2003年,我国现金收支相抵,净投放高达2468亿元,同比多投放879亿元,比国务院下达的年投放1500亿元计划多出968亿元,突破历史最高水平。从2003年的现金超常投放,凸显了我国货币流通中出现的一些新特点和新问题。 现金投放超出常规 现金投放量创历史新高。80年代以前,我国现金年     

问渠哪得清如许 为有源头活水来——工行甘肃省分行营业部做好“加减法”持续推动“网讯”工作长足发展

工行甘肃省分行营业部“网讯”工作在坚持“三性”原则的前提下,突出“为经营管理服务、为业务发展服务、为领导决策服务”的宗旨,在贴近业务、贴近管理、贴近员工的“三贴近”中,弘扬主旋律、提倡多样化,为全行的改革发展和业务经营营造了良好的舆论氛围。     

金融业计算机系统稽核的任务与实现

我国金融信息化进程的加快和信息化水平的大力提高，对金融企业的工作效率和质量、扩大服务领域、提高管理水平、增强科学决策能力发挥了极为重要的作用。在金融业务处理和管理决策对计算机系统的依赖程度相应提高的同时，金融计算机系统稽核的重要性日益凸现出来。     

金融业机房UPS监控技术探究

为了保障金融机构各类功能的大型计算机系统及外部设备7×24小时不间断地安全运行,就要求机房的环境设备(供配电、UPS、空调、消防、安防等系统)必须时时刻刻为计算机系统提供正常的运行环境。因此,对机房环境设备及系统主机进行自动监视和科学管理是极其必要的。本文主要对为机房重要设备提供不间断供     

试论保险业计算机应用的发展趋势

目前,国内保险业的市场竞争非常激烈,在保险产品和营销方式日趋相似的情况下,管理和服务将成为竞争成败的决定因素,因而,全面提高保险业的计算机应用水平将是赢得竞争的关键措施.     

东亚已成为世界最开放地区

世界银行贷款帮助中国提升机构能力 世界银行执行董事会批准向中国提供2000万美元贷款,支持各级政府进一步推进经济改革,这是世行1983年以来在中国资助的一个"技术援助"项目系列中的第五期.这项贷款支持的"中国经济改革实施项目"旨在帮助中国各级政府更多地采纳和运用科学的改革发展思路、政策和实施方案,其主要途径是通过一系列子项目的实施提升机构能力,这些子项目都是针对各级政府面临的各种具体挑战而提供的技术援助.     

证券业信息化建设在起飞

随着证券市场的不断发展和网上证券交易量的迅速增长，市场监管者和经营者充分认识到开展信息化建设的必要性与紧迫性，中国证券行业信息化建设正面临着艰巨而繁重的任务。证券市场起步并不算早，只有短短的十多年历史，由于其发展非常迅速，在金融体系乃至整个国民经济体系中占有举足轻重的地位。与银行业相比，证券行业信息化规模较小，但其应用的深度、广度以及实时性的要求都非常高，并且，对技术风险控制和保障网络信息安全也有特殊的要求。信息系统是证券行业的重要组成部分，是证券市场的基础性条件，