宏观经济学的内容体系和分析方法

宏观经济学的内容体系和分析方法侯荣华一、西方宏观经济学的特点和学习目的西方经济学接研究的范围和角度不同，可分为宏观经济学和微观经济学。一般来说，宏观经济学是从国民经济角度研究和分析资本主义整体经济活动的。如爱德华·夏皮罗提出：＂宏观经济学考察的是国民...     

案例式教学在宏观经济学中的运用

案例教学法可以广泛采用于财经类课题的教学,宏观经济学也不例外。本文结合宏观经济学课程本身的特点,分析了宏观经济学案例教学的基本原则,进而分析了宏观经济学案例教学的价值。以此为基础,针对宏观经济学的不同教学内容,设置了教学案例内容的选择。最后,综合本文的分析,总结归纳了宏观经济学案例教学中应注意的问题。     

费尔普斯的经济学苦旅

在大学的经济学学习中，费尔普斯逐渐显现出了与众不同的才智。他对宏观经济学与微观经济学如何相互沟通产生了浓厚的兴趣。正是这种兴趣引导他把微观经济学引入了凯恩斯创立的宏观经济学，并成为新凯恩斯主义的领军人物。[编者按]     

对宏观经济学与微观经济学一体化趋势的思考

本文重点是理解宏观经济学与微观经济学一体化趋势,先从宏观经济学与微观经济学的建立开始谈起,之后介绍宏观经济学的微观基础的发展,而后引入宏观经济学与微观经济学一体化发展的思考。     

《宏观经济学》教学改革探讨

宏观经济学是西方经济学的重要组成部分,是我国经济学类和管理学类各专业的基础理论课.在教学过程中,应注意在与微观经济学的比较中理解宏观经济学,掌握宏观经济学的基本框架,严格训练和培养宏观经济分析方法,开展宏观经济学探究式课堂教学,推行宏观经济学案例教学.     

《宏观经济学》教学改革探讨

宏观经济学是西方经济学的重要组成部分,是我国经济学类和管理学类各专业的基础理论课。在教学过程中,应注意在与微观经济学的比较中理解宏观经济学,掌握宏观经济学的基本框架,严格训练和培养宏观经济分析方法,开展宏观经济学探究式课堂教学,推行宏观经济学案例教学。     

新古典宏观经济理论的发展及其政策启示

新古典宏观经济学的发展大致经历过两个阶段:以卢卡斯、萨金特为代表的早期的新古典宏观经济学和以基德兰德、巴罗等为代表的"第二代"新古典宏观经济学.新古典宏观经济学在经济周期分析、宏观政策分析以及政策设计等方面都做出了重要贡献,这些理论成果给我们以启示.     

刍议《宏观经济学》的教学方法、实践及创新

本文在阐述讲授法的应用基础上,结合《宏观经济学》的具体教学实践,总结了案例式和启发式教学方法在宏观经济学教学中的应用,认为宏观经济学的教学应以讲授法为主,但应以启发式教学论思想作为宏观导向,辅以案例分析,形成先进教学方法。     

模块化教学在宏观经济学课程中的实践及评价

1936年凯恩斯的《就业、利息和货币通论》的发表,标志着宏观经济学的诞生。本文将从宏观经济学知识框架的角度出发,以凯恩斯宏观经济学思想为主题,将其零散的知识进行模块分类,并结合个人教学实践工作的经验,对高校宏观经济学教学提出改进意见。     

失业和通货膨胀理论

失业和通货膨胀理论奚惟华失业与通货膨胀理论一直是西方宏观经济学中的一个重要内容。自本世纪５０年代末以来，西方国家的失业率和通货膨胀率一直呈现上升趋势，成为困扰经济的两大难题。各国经济学家对此问题进行了广泛的探讨与研究，提出了许多观点与对策。本文仅围绕...     

Debt and Taxes and Uncertainty

With a graduated personal tax schedule, Miller showed that there could be an equilibrium debt supply for the corporate sector as a whole. In the presence of uncertainty there is also a unique debt/equity ratio for each individual firm, and this ratio is related to the firm's operational risk characteristics. However, if firms merge and spin off in response to tax incentives, the identity of firms is ambiguous and only the corporate sector is a meaningful construct. These arguments are developed in both discrete and continuous models that employ extensions of the arbitrage-free pricing theory.     

教育与资本怎样的前景怎样的现实

来自政府的声音: "动员各种社会资源,发展教育" 此次论坛上财政部长助理张少春的发言是最受关注的发言之一.他的演讲传达出的信息有这样几方面:第一,谈到现实,他认为全社会对教育的巨大需求与我国公共投入不足已成为我国教育事业发展的突出矛盾.近年来,以公共部门投入为主,多渠道筹措教育经费的教育投入机制成为解决这一问题的重要途径,也使得公共部门与私营部门在教育领域的合作日益密切.第二,谈到前景,他认为,1.中国经济持续、快速的增长对高技能人才产生巨大的需求,这为私营部门的参与提供了广阔空间.2.随着公共财政职能的不断完善,财政资金将在各项教育事业中重新进行分配,进一步优化财政支出结构,提高资金的使用效率.在"十一五"期间,我国将把公共支出的重点转移到农村.我们将逐步把全体农村适龄儿童的义务教育全部纳入公共财政体制.     

East and west and north and south : A preliminary model

The Brandt report and other proposals for a new North-South world order continue to be the focus of lively debate, yet it is often argued that little concrete has emerged from their recommendations. A major reason for this, the author argues, is that the East-West conflict component is not sufficiently taken into consideration-East-West tensions are a severe constraint on and a determining factor of North-South relations. Using influence diagrams, the author develops a flexible framework for discussion and assessment of N/S-E/W relations.     

Director gender and mergers and acquisitions

Does director gender influence CEO empire building? Does it affect the bid premium paid for target firms? Less overconfident female directors less overestimate merger gains. As a result, firms with female directors are less likely to make acquisitions and if they do, pay lower bid premia. Using acquisition bids by S&P 1500 companies during 1997–2009 we find that each additional female director is associated with 7.6% fewer bids, and each additional female director on a bidder board reduces the bid premium paid by 15.4%. Our findings support the notion that female directors help create shareholder value through their influence on acquisition decisions. We also discuss other possible interpretations of our findings.     

Political corruption and mergers and acquisitions

This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas relate positively to the bid premiums and negatively to the likelihood of deal completion. Corruption motivates acquiring firms to use excess cash for payment, which mitigates the negative effect of corruption on acquirer shareholder value. The evidence indicates that acquisitions help acquiring firms convert cash into hard-to-extract assets and relocate assets from the high to low corruption areas, thereby shielding their liquid assets from expropriation by local officials.     

Trust and cross-border mergers and acquisitions

A number of studies suggest that social trust matters for investment. Using different measures of trust from World Values Survey, we show that countries where people display higher levels of trust engage in more cross-border M&A activities. When they do, these acquirers pay lower premiums. To the extent that these acquirers also tend to engage in larger acquisitions as well, our findings suggest that a larger selection pool of potential targets and higher value targets enable these acquirers to negotiate for lower premiums. We do not find evidence of the significant effect for target country trust levels. Hence, trust may benefit those acquiring firms in cross-border transactions.     

Tournament-based incentives and mergers and acquisitions

This research examines the relation between tournament-based incentives, which are proxied by the difference between a firm's CEO pay and the median pay of the senior managers, and mergers and acquisitions (M&As). We find that tournament-based incentives are positively related to firm acquisitiveness and acquiring firms' stock and operating performance. Further analysis indicates that positive acquisition performance increases the likelihood of the CEO being promoted from inside the acquiring firm. Our evidence is consistent with the view that tournament-based incentives motivate acquiring firms' managers to make greater efforts and take more risk that result in superior acquisition performance.     

Corporate Innovations and Mergers and Acquisitions

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.