关于设立国家科技发展银行之建议

如何针对可金融化的科技资源，如科技型中小企业、高新技术园区、重大科技专项等，进行可孵化科技成果财富化的金融设计，是实施科技金融工程的具体措施。在众多可供选择的金融路径中，设立国家级科技发展银行的条件已经具备。     

Chinese National Income,ca. 1661–1933

In recent decades, national income has become increasingly important as a measure of a nation's economic health. In this study, we used a wide array of primary and secondary sources to arrive at values of the Chinese per capita gross domestic product during the period of 1661–1933. We found a persistent decline in the per capita gross domestic product between the seventeenth and nineteenth centuries, followed by a period of stagnation. This pattern, which shows up in many Asian countries, with the exception of Japan, provides a basis for improving our understanding of the patterns of global economic convergence and divergence.     

Exchange Rates,Domestic Prices,and Central Bank Actions: Recent U.S. Experience

Central banks that are primarily concerned with the behavior of prices will use monetary policy to try to insulate prices from exchange rate changes. Prices then appear unresponsive to changes in the exchange rate. The observed relationships between prices and the exchange rate will reflect central bank actions instead of the underlying relationship between exchange rates and prices. This paper explicitly recognizes the role that policy plays in determining the observable relationships between exchange rates and prices, and in so doing, it illustrates how the underlying relationships can be unraveled. Using three different empirical approaches, we examine the recent experience of the United States. We find that the prices of various nondurable goods, and even of some services, respond modestly to the exchange rate, and we find that the responses emerge most clearly when the role of monetary policy is explicitly considered. These findings are consistent with the hypothesis that the Federal Reserve acts to mitigate the effects of exchange rate fluctuations on domestic prices.