Is there Causal Relationship between Money Supply Growth and Inflation in China? Evidence from Quantity Theory of Money

This study examines the causal relationship between Chinese money supply growth and inflation, using the bootstrap Granger full‐sample causality test and sub‐sample rolling‐window estimation test to determine whether such a relationship in China supports the quantity theory of money. The result indicates that there is a unidirectional relationship from inflation to money supply growth. However, considering structural changes in two series, we find that short‐run relationships using full‐sample data are unstable, which suggests that full‐sample causality tests cannot be relied upon. Then, we use a time‐varying rolling‐window approach to revisit the dynamic causal relationship, and the results show that money supply growth has both positive and negative impacts on inflation in several sub‐periods, and in turn, inflation has the same effects on money supply growth for China. These findings are basically consistent with the modern quantity theory of money from the perspective of money supply and price level. When money supply growth does not outweigh output growth, inflation should not be curbed only by decreasing money supply. It notes that a stable money supply growth is critical to price level stability and economic development in China.     

基于数据结构的最短路径算法的研究

基于数据结构的最短路径问题已成为研究图论中的热门课题之一。Dijkstra算法作为解决最短路径问题的基础理论,被广泛应用与工程计算中。本文针对传统Dijkstra算法存在的缺陷,提出优化方法,主要通过对最短路径结点的选取、数据的存储结构与组织进行了改进,经过比较分析,得出改进后的算法,降低了存储空间,有效提高了运行效率,在最短路径计算中具有更好的适用性。     

汇率预测的神经网络方法及其比较

浮动汇率兴起以来,大量的参数方法和非参数方法被用于汇率预测,神经网络是其中的一种.神经网络方法在汇率预测中的应用有三种不同的方法:同质神经网络模型、异质神经网络模型和神经网络组合模型.本文讨论了三种神经网络预测模型的特点以及局限性,并通过时这三种方法的比较得出结论:神经网络组合模型充分考虑了汇率的线性特征和非线性特征,比同质神经网络和异质神经网络预测模型更系统、更全面,能更好地进行汇率预测.     

光接收机原理及常见故障分析

本文简要介绍了光接收机工作原理及使用中应注意的一些问题,并结合实际对常见故障进行分析.     

利用税收政策调控房地产市场的对策思考

近年来,我国房地产业飞速发展,房价节节攀升,国家不断出台宏观政策来调控抑制房价,虽然取得一定成效,但仍然存在很多问题。加大税收杠杆的调节力度,通过税收政策的改革和创新来引导我国住房的理性消费势在必行。本文从税收角度分析了房价上涨的原因,对现行的税收政策提出了改革建议,以期稳定房价,促进房地产业的健康发展。     

试论农业科技发展的规律性

本文从逻辑和历史相结合的角度,论述了农业科技发展作为一个过程所具有的三个方面的规律性,即：①生活资料需求、生产资料需求、生态环境需求和社会文化需求等多样化的社会需求是推动农业科技发展的主要动力;②清除或缓解生产要素配置中的“瓶颈”制约,是农业科技发展的突破口;③提高由社会生产力和自然生产力构成的农业生产力的整体水平,是它业科技发展的落脚点。     

Why trucks jump: Offshoring and product characteristics

In this paper, we study the role of vertical product differentiation in the decision to allocate production between domestic and foreign plants. To do so, we examine the first wave of light-truck offshoring to Mexico that occurred due to substantially lower post-NAFTA trade barriers and a coincident increase in US demand for light trucks. In contrast to the typical assumption, but similar to many other industries, the need for additional capacity was accommodated by investment in both the US and Mexico for the same models of light trucks. Using a new dataset that details the extent of offshoring and domestic production within models, we document sharp differences in how capacity was utilized. Specifically, within models, we find that automakers offshored varieties which tend to be older in design vintage, lower scale, and less complex to produce. In contrast, we find that varieties “inshored” to newer capacity in the US exhibit the opposite characteristics. This highlights the important role of vertical differentiation and the associated variation in production complexity for the sorting of production across borders. A product with a large degree of vertical differentiation may provide scope for a firm to maximize profits by “inshoring” the more complex varieties while offshoring the less complex versions.