An input-and output-oriented data envelopment analysis model

Considering the conventional data envelopment analysis （DEA） model used to measure the relative efficiencies of a group of decision making units （DMUs） is limited to either input or output orientation, a new DEA model which is both input-and output-oriented is proposed in this paper. This model can be treated as a multi-objective programming problem and solved by fuzzy sets theory. The basic idea is to describe the efficient frontier with fuzzy observation and determine projections for DMUs on the frontier by using the fuzzy optimization approach. The measurement of efficiencies for DMUs is obtained by comparing the inputs and outputs of DMUs with their projections. Since the input- and output-oriented DEA model can be transformed into a conventional input- or output-oriented DEA model by using special membership functions, it is therefore more adaptive for efficiency measurement. Finally, a typical example is presented to illustrate the computation methods.     

Effect of Money Supply on Real Output and Price in China

Over the past 30 years, China has achieved remarkable long-term economic growth. Using quarterly data, we study the effects of money supply on real output and inflation in China between 1993 and 2008. To this end, we use money supply shocks afler filtering out the expected component of the money supply. Our findings provide evidence supporting the asymmetric effect of positive and negative money supply shocks on real output and inflation in China. That is, real GDP growth in China responds to negative money supply shocks but not positive money supply shocks. In addition, inflation responds to positive money supply shocks but not negative money supply shocks. We conclude that the People＇s Bank of China＇ s policy of steady monetary growth appears to be appropriate. Our study offers important policy implications for China.     

Do Poor Rural Households Produce Less Grain than Non-poor Rural Households

China＇s poor rural households produce substantially less grain compared with non-poor rural households. The present paper applies a decomposition approach and uses China＇s rural household survey data to investigate the causes of this grain output gap The paper first compares the grain output gap between poor and non-poor rural households, and then decomposes the gap into differences in yield and area sown, The results indicate that the gap in grain output mainly results from differences in the amount of inputs used in production. Differences in the number of labor days and the level of intermediate inputs account for 13.6 and 47.S percent of the gap, respectively. Poor rural households are also less efficient in their use of intermediate inputs, which contributes to 13.2percent of the gap. However, the efficiency of poor households＂ labor days reduces the gap by 7.2 percent, while agricultural physical capital, househoM head education and agricultural training have no substantial impact on the household grain output gap.     

Chinese Offshore RMB Currency and Bond Markets： The Role of Hong Kong

This paper discusses the role of Hong Kong in China’s grand scheme to build up the RMB as a global reserve currency.We highlight the economic importance of Hong Kong to China in terms of channeling foreign direct investment into China,some of which,in the future,will be denominated in the RMB.We discuss the development of China’s RMB currency swap and deposit markets in Hong Kong.These offshore markets enable the RMB to trade freely, setting the stage for the RMB to become fully convertible and allowing market forces to play a role in pricing the value of the RMB,and help in the development of the RMB-denominated bond(or dim sum bond)market in Hong Kong.Finally,we present evidence of the phenomenal growth of the dim sum bond market in Hong Kong,which can further enhance and strengthen the use of the RMB outside China.     

Business Cycle Asymmetry in China： Evidence from Friedman＇s Plucking Model

Friedman＇s plucking model of business fluctuations suggests that output cannot exceed an upper limit, but it is occasionally ＂plucked＂ downward below trends as a result of economic recessions. This paper investigates China＇s business fluetuations using quarterly real GDP data for the period 1978 2009. Our results show some evidence supporting Friedman＇s plucking model. We find that a ceiling effect of real output exists, and that negative asymmetric shocks significantly affect the transitory component, which captures the plucking downward behavior during the recession. The results also suggest that the basic asymmetric unobserved component model is not appropriate for directly modeling China＇s real output because the business＂ cycle is inaccurately measured, but it works quite well when considering a structural break in the second quarter of 1992. The results reveal that although China＇s economy strengthened in the second quarter of 2009, it is essential for China＇s government to take further positive and effective measures to maintain sustainable development of the economy.     

Financial Development, Economic Growth and Adaptive Efficiency： A Comparison between China and Pakistan

The strong economic growth in China is difficult to reconcile with its inefficient financial system. The puzzle of China＇s financial development and growth can be explained through a dynamic criterion of adaptive efficiency, rather than through allocative efficiency. Using the framework of an autoregressive distributed lag model, the present paper tests the hypothesis that the GDP growth rate is dependent on financial development along with other variables in China and Pakistan. The hypothesis cannot be rejected in both cases. However, the results show that economic growth has a negative relationship with credit to the private sector in China. We conclude that financial development is a source of China＇s high growth rate and that the banking system is still under an evolutionary process, involving the pursuit of social objectives instead of the sole objective of profit maximization. Our results provide some implications for other developing countries like Pakistan.     

Ou Rhetoric Metaphor in English Teaching

As an important understanding method of human, metaphor has played a crucial role in human＇s cognition of the concept and structure of things. Modern metaphorical theory stresses the way of thinking and cognitive style of language speakers and it has been paying more and more attention by foreign language teachers and learners. Its positive guiding role and the value of application has been recognized by many experts and scholars both at home and abroad. The research results show that whether in teaching English vocabulary or cultural teaching, teachers can make use of the character of metaphorical understanding to guide students to regard metaphor as an effective cognitive tool, to understand and use English vocabulary and cultural knowledge. Therefore, English language teachers should pay attention to absorbing and applying the latest achievements of metaphor research, explain in detail the rationale behind the phenomenon, and organize the scattered language phenomenon through metaphor, in order to promote English language teaching level.     

Inflation Uncertainty and Monetary Policy in China

This paper uses a stochastic volatility model structural break tests with unknown point, and a counterfactual simulation method to discuss the significant decline in inflation uncertainty in China over 1978-2009. We attempt to quantify the contributions of better monetary policy and smaller structural shocks （including demand, supply and policy impacts） on the reduced inflation uncertainty. Empirical results in the present paper suggest that improved monetary policy accounts for only a small fraction of the reduction in inflation uncertainty from the pre-1997 period to the post-1997 period in China. The bulk of the significant moderation in inflation uncertainty arises from smaller shocks. This finding indicates that the quiescence of inflation in China over the past decade could well be followed by a return to a more turbulent inflation era. Therefore, the use of preemptive monetary policy to anchor inflationary expectations and keep moderate inflation uncertainty is warranted.     

Design Patterns and Object-Oriented Models of a Civil Biometric Service System

The number of background and security checks in civil applications has increased dramatically in recent years. Most of those civil applications use the local and federal law enforcement agencies＇ databases. Because of the unpredictable civil application requirements and the development of new technologies, the biometric industry is apposite to use the design patterns and object-oriented analysis in developing and managing such dynamic and complex systems. This article presents the use of the design patterns as a common way to organize objects to make practical design decisions helping to generate flexible, manageable, and agile biometric software architectures. First, a conceptual model is presented modeling an Electronic Fingerprint Service （EFS） for civil applications based on object-oriented design. Then the model is demonstrated by applying design patterns and shows that the system can gain the flexibility and agility to expend and adapt to new biometric technologies and applications in an Electronic Biometric Service （EBS） system. Two cases are used to demonstrate the proposed method. This analysis and design interaction leads to the application of the design patterns by reusing the object created in the EFS model. The two case studies demonstrate how design patterns applied to the EBS model and show they can achieve flexibility and object reusability （agility） while maintaining the integrity and security of the main system model.     

Multi-valued Document Classification Based on Generalized Bradley-Terry Classifiers Utilizing Accuracy Information

Due to the development of computer network, a large amount of documents are treated in many fields. The number of digital document data stored in databases is enormous, accordingly it is difficult for analysts to read all documents and classify it by hand. Therefore, it is necessary to develop the technology of automatic document classification by using computers these days. From the above needs, many classifiers with good performance have been proposed, i.e., Relevance Vector Machine （RVM） and Support Vector Machine （SVM） that are known as good binary classifiers. For multi-valued document classification problems, it is known that a multi-valued classifier by combining several binary classifiers has a good performance. In this study, the method to construct an efficient combination of binary classifiers based on improving Generalized Bradley-Terry （GBT） model, which has high extensibility, is focused. This model is an expansion of Bradley-Terry （BT） model. Though the BT model has a limitation on combination of classes, the GBT model enables us to utilize any binary classifier which classifies into two arbitrary subsets in the class set. Generally, when several binary classifiers learn from the training dataset, there would be the difference of accuracy between these binary classifiers, due to the existence of categories that cannot be easily classified. However, the conventional method of multi-valued classification by GBT binary classifiers does not take the accuracy of each classifier into consideration. To avoid this problem, a new way of multi-valued classification method by considering each classifier＇s accuracy is proposed. The purpose of this study is to construct a good multi-valued classifier by calculating the accuracy of each classifier and utilizing it as the weight. In order to verify the effectiveness of the proposed method, the simulation experiment by using newspaper articles is conducted.     

CO2 Emissions Embodied in China＇s Foreign Trade： An Investigation from the Perspective of Global Vertical Specialization

In light of the growth in vertically specialized in global trade, the present paper uses input output tables from the World Input-Output Database to construct an environmental multi regional input-output model to calculate the CO2 emissions embodied in China＇s international trade during 1995-2009. The advantage of this model lies in its incorporation of the re exported CO2 emissions component embodied in trade and its ability to differentiate domestic sourced CO2 emissions from foreign-sourced CO2 emissions in trade. The results show that carbon emissions embodied in both China＇s exports and imports increased significantly during 1995-2009. One important reason for this is that the re-exported carbon emissions embodied in China＇s imported intermediate inputs increased substantially during this period. Our research reveals that accelerating the transformation of trade pattern and upgrading processing trade should be emphasized in the formulation of policy to prompt CO 2 emissions abatement in China.     

What Prompts the People＇s Bank of China to Change Its Monetary Policy Stance？ Evidence from a Discrete Choice Model

In the present paper, we model the policy stance of the People＇s Bank of China （PBC） as a latent variable, and the discrete changes in the reserve requirement ratio, policy interest rates, and the scale of open market operations are taken as signals of movement of this latent variable. We run a discrete choice regression that relates these observed indicators of policy stance to major trends of macroeconomic and financial developments, which are represented by common factors extracted from a large number of variables. The predicted value of the estimated model can then be interpreted as the implicit policy stance of the PBC. In a second step, we estimate how much of the variation in the PBC＇ s implicit stance can be explained by measures of its policy objectives on inflation, growth and financial stability. We find that deviations of CPI inflation from an implicit target and deviations of broad money growth from the announced targets, but not output gaps, figure significantly in the PBC＇s policy changes.     

Does Foreign Direct Investment Affect the Growth of Local Firms？ The Case of China＇s Electrical and Electronics Industry

Does foreign direct investment(FDI) into developing countries affect the growth of local firms in host countries? Using a dataset of 38 sectors in China’s electrical and electronics industry,in this paper,we analyze whether FDI has a positive effect on local firms,with technology spillovers,added value and increasing total factor productivity,or a negative, market stealing,effect.Estimating the relationship between growth of local firms and investment of foreign firms,our results show that FDI is likely to have a negative impact on the growth of local firms in sectors with large disparities in technology and less experience in business.Therefore,local firms lacking in technology need to find markets with no competition from foreign firms or determine strategies to compensate technology disparities.     

The Measure for the Management Innovation Performance of Industrial Enterprise of Sichuan Province

Both science and technology are the primary productive forces, and management is the second productivity. An industrial enterprise is an aorta of a country or a regional economic growth, while the level of its management innovation is directly influencing the economic growth rate of the country or the area. The management innovation performance of industrial enterprises mainly embodies the impetus to the country or the regional economic growth of management innovation. To measure the contribution proportion of management innovation to the industrial economic growth of Sichuan, the econometric model was set up by introducing management innovation as exogenous variable to Sichuan industrial economic growth model, and utilizing the relevant data of industrial economic growth of Sichuan, based on Solow＇s residual value method to calculate scientific and technological progress. The results, to some extent, can be used to offer some suggestions to manager＇s decision, and promote the sustainable, stable and well development of the industrial economy of Sichuan.     

Literature Review on Negative Effects in Cluster＇s Evolution

There is not an absolutely perfect pattern in cluster＇s evolution, and some negative effects would be the stumbling blocks. The inward obstacles are the efficiency boundary of the intermediary organization and the industrial lifecycle, while the postnatal shortage of clusters embodied in the diamond model is the result of non-perfect interaction between cluster and its surroundings. Lastly, analyses of clusters governance and the growth reasons of newly emerging clusters give way to the elimination of negative effects of clusters.     

Analysis on enterprise strategy thought based on the valuation innovation

With the market competition becoming more severe than ever and more changes in customer demands, the traditional competitive strategy thought isn＇t fit for the needs of enterprise subsistence and development. This paper introduces the changed tradition based on the value innovation strategy analysis method as the basic point strategy thinking mode and uses the example to introduce specifically how to use this method to carry on the analysis for enterprise＇s strategy.     

Governance Quality Influence on the Volume of Money in Selected Countries

The main purpose of this paper is to examine the effectiveness of governance quality on the volume of money in the group of selected countries with middle-income1 through using panel data. This paper adopts Random Effects model and Generalized Method of Moments （GMM） as its methodology. Furthermore, the most important factors influencing on the volume of money in the group of selected countries with middle-income have been identified by econometric method. The results of the estimation method with Random Effects and GMM models show that the governance quality has a significant negative effect on the changes of the volume of money in the group of selected countries with middle-income from 1996 to 2009. It is worth considering that the quality of governance in most of these countries lies within the lower level.     

Transaction Costs of Entrepreneurs as a Deterrent of Housing Construction Development in Russia

Nowadays realization process of investment and construction projects is not always effective because of imperfection of institutions regulating construction, high investment risks and, as a consequence, increase transaction costs. The facts of the objective existence of transaction costs in the economy, including housing construction, are researched in the article. We have determined that the transaction costs significantly affect the cost of construction, reduce profit entrepreneurs, and indirectly increase the shortage of housing in Russia. Such parts of modern economics as neoclassical economics and institutional economics are methodological basis of the paper. Logical, economic and legal （institutional）, socio-economic approaches were used during the research of transaction costs function. The authors used the complex of ideas and different methods of sociological and economic analysis that allowed deepening the importance of institutional state regulation of business activity in housing construction area. The classification of transaction costs creation was worked out; this model unlike well-known models considers the most important parts of transaction costs which really exist in business activity of construction companies nowadays; implementation of the model allows calculating and predicting this kind of costs in business. Recently Russian government returns to the questions about efficiency of production （increase of labor productivity, efficiency and profitability of production）, therefore attention to the reduction of transaction costs is going to increase profits and efficiency.     

Study on Grey Model GM （1, 1） Forecasting for Airport Passenger Throughput

Airport passenger throughput is the most important yield guideline in airports, but there is not yet an effective method to forecast it. Grey model （GM） method can meet the request of forecast due to its strengths of little original data needed and high precision. Exploring application of GM in the forecast of airport passenger throughput can promote the development of airport industry to a great extent, so as to increase its economic profit. This paper discusses the application of grey model GM （1, 1） and its improved model in the short-term airport passenger throughput forecasting. The method for processing the forecasting data of the ordinary and special weekly throughput is offered to ensure a higher precision of forecasting.