纽约市产业结构变动:个案分析与借鉴

从美国产业分类指标体系的演变过程分析在原来的标准产业分类系统下1980～2002年纽约市各产业结构的变化情况,以及在北美产业分类系统下纽约市各产业的从业人数、从业人员总收入和人均年收入的变化情况。结果表明:纽约市已由以制造业为基础的经济转向以知识密集型服务业为基础的经济,纽约市产业结构的高级化和软化对于推动纽约市经济的高速发展具有强大的作用,这对我国经济发达的大都市产业结构的升级和合理化有重要的借鉴和参考意义。     

De theorie van het nationale inkomen en de toepassing daarvan,in verleden en heden

Bespreking van P. Studenski, The Income of Nations. Theory, Measurement, and Analysis: Past and Present. A Study in Applied Economics and Statistics. New York University Press, New York, 1958. 554 blz.     

The pitfalls of estimating transactions costs from price data: Evidence from trans-Atlantic gold-point arbitrage, 1886-1905

This paper argues that bilateral spatial price models do not estimate bilateral transactions costs when trade with third cities is important. The paper examines trans-Atlantic gold arbitrage during the gold standard era by assembling a database indicating when trans-Atlantic gold shipments occurred. It shows that two-way gold shipments between New York and London frequently occurred prior to 1901. However, in 1901 gold shipments to London ceased and were replaced by triangular arbitrage shipments through Paris. Consequently, New York and London gold price data cannot be used to estimate New York-London transactions costs after 1901, as no trade took place.     

BOOK REVIEWS

Book reviewed in this article: Voices of the Poor: Can Anyone Hear Us? by Deepa Narayan with Raj Patel, Kai Schafft, Anne Rademacher, and Sarah Koch‐Schulte, New York, Oxford University Press for the World Bank, 2000, xi + 343 pp. Voices of the Poor: Crying Out for Change by Deepa Narayan, Robert Chambers, Meera K. Shah, and Patti Petesch, New York, Oxford University Press for the World Bank, 2000, xvi + 314 pp. Voices of the Poor: From Many Lands edited by Deepa Narayan and Patti Petesch, New York, Oxford University Press, and Washington, D.C., World Bank, 2002, xvi + 509 pp. China's Retreat from Equality: Income Distribution and Economic Transition edited by Carl Riskin, Zhao Renwei, and Li Shi, Armonk, N.Y., M. E. Sharpe, 2001     

《中国日报》与《纽约时报》中新闻评论语篇的情态比较研究

《中国日报》与《纽约时报》分别是中美两国的主流英语报纸,然而两报的言论版却有一个显著差别：《中国日报》的新闻评论以述评（commentary）为主,而《纽约时报》则以社论（editorial）为主。从系统功能语法的角度出发,对两报评论语篇中的情态手段的类别、频率、分布及主客观取向等进行量化分析,旨在从情态视角研究两者人际功能的异同,同时也可加深对英语新闻评论语体本身的研究与认识。     

BOOK REVIEWS

Books Reviewed in this article: Capital Accumulation in Thailand, 1855–1985 by Akira Suehiro, Tokyo, Centre for East Asian Cultural Studies, 1989, xviii+427 pp. Livestock Development in India: An Appraisal by S. N. Mishra and Rishi K. Sharma, New Delhi, Vikas Publishing House, 1990, vii+203 pp. Multinational Enterprises in India: Industrial Distribution, Characteristics, and Performance by Nagesh Kumar, London and New York, Routledge, 1990, xv+141 pp. Japanese Agriculture: A Comparative Economic Analysis by Cornelis L. J. Van der Meer and Saburo Yamada, London and New York, Routledge, 1990, xvi+217 pp.     

NOTES ON BOOKS RECEIVED

BURNS (ARTHUR F.) (Ed.). Wesley Clair Mitchell. The Economic Scientist .
ZIMMERMAN (ERICH W.). World Resources and Industries .
THE SOUTH AFRICAN COMPANIES ACTS. By ARTHUR SUZMAN. Cape Town: Juta & Company, 1953. Pp. xv + 512. Price 52s. 6d.
WORLD RESOURCES AND INDUSTRIES. Revised Edition by ERICH W. ZIMMERMAN. New York: Harper and Brothers, 1951. Pp. 800. Price $7.50.
WESLEY CLAIR MITCHELL. The Economic Scientist . Edited by ARTIIUR F. BURNS. New York: National Bureau of Economic Research, 1952. Pp. viii + 385. $4.00.     

Reviews

W. Prest (ed.). The professions in early modern England. (London, New York and Sydney: Croom Helm. 1987. Pp     

Intraday seasonality in activities of the foreign exchange markets: Evidence from the electronic broking system

This paper examines intraday patterns of the exchange rate behavior, using the “firm” bid–ask quotes and transactions of USD-JPY and Euro-USD recorded in the electronic broking system of the spot foreign exchange markets. The U-shape of intraday activities (deals and price changes) is confirmed for Tokyo and London participants, but not for New York participants. Activities do not increase toward the end of business hours in the New York market, even on Fridays (ahead of weekend hours of non-trading). Return volatility is found to have intraday patterns similar to those of activities, and volatility and the bid–ask spread is negatively correlated. A negative correlation is observed between the number of deals and the width of bid–ask spread during business hours. It is also found that the concentration of transaction during overlapping business hours between Tokyo and London markets (London and New York markets) may arise from heterogeneous expectations among participants from different regions. J. Japanese Int. Economies 20 (4) (2006) 637–664.     

The economics of conditional heteroskedasticity: Evidence from canadian and U.S. stock and futures markets

This paper provides insight into the sources of time variation and persistence in volatility by presenting new evidence concerning the price behavior of three index futures contracts and associated stock price indexes (the New York Stock Exchange Composite index, Standard and Poor's 500 index, and Toronto 35 index). Although persistence in the second moments of stock returns distribution is widely documented, the economic explanation for generalized autoregressive conditional heteroskedasticity is not established. Cross-sectional differences in measured persistence indicate that market characteristics thought to impede information flows may not play a significant role in explaining generalized autoregressive conditional heteroskedasticity effects.     

Integration between the London and New York Stock Exchanges, 1825–1925

In this article the integration between the London and New York Stock Exchanges is analysed during the era when they were still developing as asset markets. The domestic securities on both exchanges showed little sustained integration, even when controlling for the different characteristics of stocks, which implies that the pricing of securities in the US and UK was still being driven by local factors. These results place a limit on the view that the pre‐First World War period was the first era of globalization in terms of capital markets. However, there was considerable integration between New York and those listings on London that operated internationally. This suggests that the listing of foreign securities may be one of the primary mechanisms driving asset market integration.     

一揖礼天下——孔子形象亮相纽约时报广场

2011年10月1日,伴着纽约迎来的新一轮朝阳,时报广场上一块大型液晶显示屏也随即亮了起来,以淡淡毛笔水墨之风勾勒出的中国先师孔子的形象徐徐而出,两手相交,手心向上放在胸前,身子向前略倾,谦恭礼让而自信大雅,以一个标准的＂揖礼＂动作向世界人民传达出最美好的祝福。这个由山东广播电视台制作的长30秒、展现孔子故乡山东风土人情的短片,以孔子标准的＂作揖行礼＂动作标识贯穿始终。     

Annuities and inflation

This paper embodies the views of the author and does not represent the views or policy of the Federal Reserve Bank of New York or the Federal Reserve System.     

Yankee Doodle went to London: Anglo‐American breweries and the London securities market, 1888–92

The enthusiasm of British portfolio investors for US industry in the late 1880s has been seen as evidence of the liberalism of the London Stock Exchange and the conservatism of the New York Stock Exchange. Based on a study of Anglo‐American brewing issues on the London market between 1888 and 1892, in this article it is argued that such an interpretation cannot be sustained. For these issues, securing access to the London market proved more demanding than accounts of its liberalism would lead us to expect: in fact, Anglo‐American brewing companies submitted to strictures from London that were more constraining than those of the New York market. Promoters accepted London's constraints to take advantage of the high valuations assigned to Anglo‐American brewing securities there, which reflected the city's success in building demand based on financial machinery that did not exist in New York. That machinery included underwriting syndicates, accounting standards, and the London Stock Exchange's listing rules, although, from this perspective, it was the rigour of the exchange's rules that was important. Still, vetting securities for quotation was not the same as for investment, as the disappointing performance of the Anglo‐American brewing securities soon revealed.     

太阳能热利用的灿烂未来

两年前，“中国太阳第一股”无锡尚德登陆纽约证券交易所，施正荣成为中国首富。如今太阳能热利用产业两大龙头公司正在步无锡尚德后尘，积极筹备上市。     

BOOK REVIEW

Modernization Among Peasants: The Impact of Communication by Everett M. Rogers in association with Lynne Svenning, New York, Holt, Rinehart and Winston, Inc., 1969, 429pp     

Keynesianen,toen en nu

R. Lekachman (red.), Keynes' General Theory, Reports of Three Decades. St. Martin's Press, New York; Macmillan, Londen 1963. XII, 345 blz.     

Black-owned banks: Issues and recommendations

Conclusion A number of suggestions have been made here which could be used to advantage by black banks. Several are already being used on a limited scale. In addition to instances cited previously, there are several other black or “interracial” banks which have located in white areas. Among these are the Universal Bank located in the Wall Street area of New York City; the interracial Vanguard National Bank in Hempstead, New York, a Long Island suburban area; and the American State Bank of Tulsa, Oklahoma, with a reported 30 percent white customers. Similarly, the black United Mortgage Bankers Association (UMBA) is in the process of using the device of pooling of mortgages. This article first appeared in theCalifornia Management Review no.1 (Fall 1974), and is reprinted with their permission.     

BOOK REVIEWS

Books reviewed: Understanding Globalization, Employment and Poverty Reduction edited by Eddy Lee and Marco Vivarelli, Basingstoke and New York, Palgrave Macmillan, 2004, xvi + 389 pp. Seeds of Knowledge: The Beginning of Integrated Pest Management in Java by Yunita Triwardani Winarto, New Haven, Conn., Yale University Southeast Asia Studies, 2004, xxi + 429 pp.     

BOOK REVIEW

Book Reviewed in this article: Breaking the Iron Rice Bowl: Prospects for Socialism in China's Countryside by Pat Howard, New York, M. E. Sharpe, 1988, xvi+264 pp.