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281.
282.
Long difference instrumental variables estimation for dynamic panel models with fixed effects 总被引:2,自引:0,他引:2
This paper proposes a new instrumental variables estimator for a dynamic panel model with fixed effects with good bias and mean squared error properties even when identification of the model becomes weak near the unit circle. We adopt a weak instrument asymptotic approximation to study the behavior of various estimators near the unit circle. We show that an estimator based on long differencing the model is much less biased than conventional implementations of the GMM estimator for the dynamic panel model. We also show that under the weak instrument approximation conventional GMM estimators are dominated in terms of mean squared error by an estimator with far less moment conditions. The long difference (LD) estimator mimics the infeasible optimal procedure through its reliance on a small set of moment conditions. 相似文献
283.
We investigate an economy in which firms have different risks to go bankrupt. We observe two things: first, workers in firms with higher bankruptcy risk (bad firms) always work less than workers in good firms. Second, the CEOs of bad firms may nonetheless receive larger wages.JEL Classification:
J40, L20, M50Alexander Matros: We are grateful to Karl Wärneryd and an anonymous referee for helpful suggestions. Much of this paper was written while Matros was a Research Fellow at University College London and Friebel was at SITE, Stockholm. We are grateful for their research environmennt. The support of the Economic and Social Research Council (ESRC) is gratefully acknowledged. This work was part of the programme of the ESRC Research Center for Economic Learning and Social Evolution. 相似文献
284.
The aim of this paper is to make a contribution to the decision-making process related to procurement of facilities management services in the public sector, particularly with reference to local authorities. Adopting a contingency approach, a model for selecting sourcing strategies is presented. Some empirical evidence resulting from the analysis of various managers’ experiences is reported and, based on the results of the testing of the model, theoretical and managerial implications are discussed. 相似文献
285.
Optimal monetary policy: A new keynesian view 总被引:1,自引:0,他引:1
Guido Zimmermann 《Quarterly Journal of Austrian Economics》2003,6(4):61-72
286.
This paper measures the distortionary and distributional effects of housing subsidies in the Netherlands. Its broad scope allows us to discuss the results in the light of the main justifications for subsidising housing, i.e. the merit–good argument, external effects and the distribution motive. Our measurements reveal some patterns of subsidisation that seem difficult to justify on these grounds. This applies especially to the differences between subsidisation of rental and owneroccupied housing and between mortgage– and equity–financed ownership. Moreover, the inelastic supply of housing in the Netherlands entails that subsidisation has only a limited effect on promoting housing quality. 相似文献
287.
If R&D difficulty increases as it accumulates, as recent evidence suggests, then there is a value in the diversification of the aggregate R&D efforts over the whole range of industries in the economy. However, this paper proves that the quality ladders models allow for self-fulfilling prophecies to divert R&D from an arbitrary number of sectors, with potentially dramatic effects on the dynamics of industry structure and on the long-run aggregate growth performance. Moreover, in developing countries, perfect markets might allow stagnant monopolies to resist despite the removal of fundamental entry barriers to dynamic competition. This kind of coordination failure implies potentially strong effects of socio-cultural factors on growth and suggests a positive role for public R&D policy even in a framework of semi-exogenous growth. 相似文献
288.
289.
This article is a study of the shape and structure of the distribution of prices at which an identical good is sold in a given market and time period. We find that the typical price distribution is symmetric and leptokurtic, with a standard deviation between 19% and 36%. Only 10% of the variance of prices is due to variation in the expensiveness of the stores at which a good is sold, whereas the remaining 90% is due, in approximately equal parts, to differences in the average price of a good across equally expensive stores and to differences in the price of a good across transactions at the same store. We show that the distribution of prices that households pay for the same bundle of goods is approximately Normal, with a standard deviation between 9% and 14%. Half of this dispersion is due to differences in the expensiveness of the stores where households shop, whereas the other half is mostly due to differences in households' choices of which goods to purchase at which stores. We find that households with fewer employed members pay lower prices and do so by visiting a larger number of stores instead of by shopping more frequently. 相似文献
290.
CSR Business as Usual? The Case of the Tobacco Industry 总被引:1,自引:1,他引:1
Tobacco companies have started to position themselves as good corporate citizens. The effort towards CSR engagement in the
tobacco industry is not only heavily criticized by anti-tobacco NGOs. Some opponents such as the the World Health Organization
have even categorically questioned the possibility of social responsibility in the tobacco industry. The paper will demonstrate
that the deep distrust towards tobacco companies is linked to the lethal character of their products and the dubious behavior
of their representatives in recent decades. As a result, tobacco companies are not in the CSR business in the strict sense.
Key aspects of mainstream CSR theory and practice such as corporate philanthropy, stakeholder collaboration, CSR reporting
and self-regulation, are demonstrated to be ineffective or even counterproductive in the tobacco industry. Building upon the
terminology used in the leadership literature, the paper proposes to differentiate between transactional and transformational
CSR arguing that tobacco companies can only operate on a transactional level. As a consequence, corporate responsibility in
the tobacco industry is based upon a much thinner approach to CSR and has to be conceptualized with a focus on transactional
integrity across the tobacco supply chain.
Guido Palazzo is Assistant Professor for Business Ethics at the University of Lausanne (Switzerland). He graduated in Business
Administration at the University of Bamberg (Germany) and earned his PhD in Political Philosophy (1999) from the University
of Marburg (Germany). His research interests are in Corporate Social Responsibility, Corporate Branding, Democratic Theory,
and Organizational Ethics.
Ulf Richter is a doctoral student at the University of Lausanne. He is writing his thesis on Corporate Social Responsibility,
conceptualizing the concept from a multidisciplinary perspective. He has studied in Germany, Peru and the US, and graduated
from the European Business School, Oestrich-Winkel, majoring in International Management and Real Estate. 相似文献