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51.
Social security and trust fund management 总被引:1,自引:0,他引:1
Takashi Oshio 《Journal of the Japanese and International Economies》2004,18(4):528-550
In this paper we investigate why and to what extent the government should have a social security trust fund, and how it should manage the fund in the face of demographic shocks, based on a simple overlapping-generations model. We show that, given an aging population, a trust fund in some form could achieve the (modified) golden rule or to offset the negative income effect of a PAYGO system. Besides, in a closed economy where factor-prices effects dominate, using the trust fund as a buffer for demographic shocks could lead to a widening of intergenerational inequality. We also the discuss policy implications of our analysis on the social security reform debate in Japan, including the fixed tax method and the use of the trust fund in the face of a rapidly aging population. J. Japanese Int. Economies 18 (4) (2004) 528–550. 相似文献
52.
53.
In this study, we attempt to investigate how educational subsidy, childcare allowance and family allowance affect economic growth and income distribution on the basis of simulation models which incorporate intergenerational ability transmission and endogenous fertility. The simulation results show that financial support for higher education can both increase economic growth and reduce income inequality, especially if the abilities of parent and child are closely correlated. In contrast with educational subsidy, raising childcare allowance or family allowance has limited impacts on growth and income inequality. 相似文献
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55.
In this special issue, we present seven studies that collectively attempt to investigate the role of non‐farm income in long‐term and short‐term poverty reduction in Asia and Africa. The first four studies out of the seven use long‐term panel data over two decades in the Philippines, Thailand, Bangladesh, and India. These studies show drastic increases in non‐farm income shares and corresponding declines in poverty levels over time, especially in the Philippines and Thailand. Education levels of household members and returns to education also increased significantly in these countries. The remaining three studies use cross‐sectional and short‐term panel data from Ethiopia, Kenya, and Uganda. These African studies show high proportions of poor households and low shares of non‐farm income that are somewhat comparable to the situation in the 1980s described in the Asian studies. Without the Green Revolution that provided stable farm income and potential financial resources to invest in children' education in Asia, it is not clear if African farm households can follow the Asian examples. 相似文献
56.
Endogenous price leadership and technological differences 总被引:2,自引:1,他引:1
This study constructs a two-stage game of price leadership in a duopolistic market for a homogeneous product. In the first period, the two firms determine a price leader; they set a price for the product in the second period. It is demonstrated in the present study that the technologically superior firm tends to become a price leader. This result reveals that price leadership is determined by the interaction of "competitive force", which prevents the price leader from choosing too high a price (like the joint profit maximizing price or the cartel price), and "collusive force", which prevents a price from falling to a Bertrand price. 相似文献
57.
ABSTRACT Japan is the most lucrative organic market in the Asian region and is projected to account for about 80% of the Asian market revenues by 2009 (Kuhlmann and Jones, 2006). This study identifies Japanese consumer preference and interest in two major labeling information- source of organic certification/traceability and country of origin for organic food products. Stated preference method (SPM) based survey data was collected from two major cities in Japan in order to develop Japanese consumers' organic food choice model. Findings show that Japanese consumers are willing to pay 10% price premium for the organic food products compared to conventional products that have no specific labeling, suggesting a significant profit margin to be possibly captured by the organic producers and marketers. The Japanese consumers have perceived value of the JAS label in their stated preference and showed willingness to pay a price premium for this quality certification system, which validates the importance of government-regulated mandatory labeling. Regarding the country origin labeling issue, the Japanese consumers showed clear preference for the domestic organic products to the imported products, while showing no preference for any particular country origin for imported organic products. For private-voluntary organic labeling, the consumer organization-led organic label is considered to be more reliable source than the retailer-guaranteed organic label. 相似文献
58.
Intertemporal substitution, risk aversion and ambiguity aversion 总被引:1,自引:0,他引:1
Takashi Hayashi 《Economic Theory》2005,25(4):933-956
Summary. This paper axiomatizes a form of recursive utility on consumption processes that permits a role for ambiguity as well as risk. The model has two prominent special cases: (i) the recursive model of risk preference due to Kreps and Porteus [18]; and (ii) an intertemporal version of multiple-priors utility due to Epstein and Schneider [8]. The generalization presented here permits a three-way separation of intertemporal substitution, risk aversion and ambiguity aversion.Received: 5 August 2003, Revised: 12 March 2004, JEL Classification Numbers:
D80, D81, D90.I am grateful to Larry Epstein for his guidance and invaluable advice, and to a referee for helpful comments and suggestions. 相似文献
59.
Takashi Yamano 《Agricultural Economics》2007,37(2-3):141-149
Although the long-term economic impacts of the AIDS epidemic on orphans have been major concerns, few studies have investigated the impacts of orphan status into adulthood. Therefore, this article examines the education attainment and land inheritance of former orphans, who have lost at least one parent before reaching the age of 15 years, by using household surveys in Kenya. We find about a one-year lower educational attainment among former maternal orphans compared with former nonorphans among adults who started schooling before the Free Primary Education program introduced in 1974 but not among adults who started schooling after 1974. On inherited land, we find no significant difference between households headed by former orphans and nonorphans, after controlling for land owned by parents, numbers of brothers and sisters, and birth order among brothers. 相似文献
60.
Takashi Fukushima 《Journal of International Economics》1981,11(4):513-529
Considered an n-good small open economy where the technology is strictly convex and ad valorem tariffs are imposed. In this world it is known that the tariff-utility relationship may be perverse. The fact is known as the Vanek–Bhagwati Paradox. The source of the perversity is found in aggregate income effects. The present paper shows that D-stability of our dynamic system implies non-perverse aggregate income effects, and hence the non-perverse tariff-utility relationship. 相似文献