建筑市场信息不对称及治理对策研究

本文基于不对称信息理论,建立了委托代理关系下的建筑业信息模型,并具体分析了建筑业目前由于信息不对称造成的各种问题,最后对相关问题提出了几点治理对策和建议。     

This is what the leading indicators lead

We propose an optimal filter to transform the Conference Board Composite Leading Index (CLI) into recession probabilities in the US economy. We also analyse the CLI's accuracy at anticipating US output growth. We compare the predictive performance of linear, VAR extensions of smooth transition regression and switching regimes, probit, non‐parametric models and conclude that a combination of the switching regimes and non‐parametric forecasts is the best strategy at predicting both the NBER business cycle schedule and GDP growth. This confirms the usefulness of CLI, even in a real‐time analysis. Copyright © 2002 John Wiley & Sons, Ltd.     

汽车ABS技术的发展综述

文中介绍了ABS的工作原理,主要阐述了汽车ABS在制动系统结构、控制方法以及结合其他电控技术结合方面的发展。     

虚拟应急供应链构建过程研究

本文界定了虚拟应急供应链的概念,在此基础上提出了构建的原则,建立了虚拟应急供应链构建的三阶段过程模型,并对构建过程中的关键因素作了进一步探讨.     

基础性制度是金融生态的核心

在本文中,我们致力于从制度的层面对金融生态这个概念进行深入的剖析与辨识。从制度对于经济增长的决定性作用和制度对金融生态内部系统的影响这样两个方面来看,制度对金融生态起着根本性的作用。制度又可以分为一般性制度和基础性制度,进而,我们认为,只有基础性制度才是金融生态的核心。在详细阐述基础性制度的内涵和生成机制的基础上,我们指出,我国恶劣的金融生态质量,其根本原因就在于基础性制度的缺失。要想改变我国的金融生态环境,就必须重建和完善我国的基础性制度。     

Deposit insurance and bank regulation in a monetary economy: a general equilibrium exposition

Summary. It is commonly argued that poorly designed banking system safety nets are largely to blame for the frequency and severity of modern banking crises. For example, underpriced deposit insurance and/or low reserve requirements are often viewed as factors that encourage risk-taking by banks. In this paper, we study the effects of three policy variables: deposit insurance premia, reserve requirements and the way in which the costs of bank bailouts are financed. We show that when deposit insurance premia are low, the monetization of bank bailout costs may not be more inflationary than financing these costs out of general revenue. This is because, while monetizing the costs increases the inflation tax rate, higher levels of general taxation reduce savings, deposits, bank reserves, and the inflation tax base. Increasing the inflation tax rate obviously raises inflation, but so does an erosion of the inflation tax base. We also find that low deposit insurance premia or low reserve requirements may not be associated with a high rate of bank failure.Received: 2 January 2002, Revised: 1 March 2003JEL Classification Numbers: D5, E5, G1.B. D. Smith: Sadly, our co-author, colleague and dear friend, Bruce D. Smith, died on July 9, 2002.     

An analysis of some aspects of regulatory risk and the required rate of return for public utilities

This paper uses a modification of the continuous time asset pricing model of Cox, Ingersoll, and Ross to analyze the effect of regulatory risk on the cost of capital. Analysis shows that random errors in setting the allowed rate of return can either increase or decrease the cost of capital depending on other regulatory parameters. However, the analysis suggests that regulatory risk is not material.     

论企业文化在塑造核心竞争力诸因素中的核心地位

本文借鉴7S模型分析了塑造企业核心竞争力的影响因素和途径,运用文献和案例论证了企业文化在塑造核心竞争力的各因素中居于核心地位,指出了塑造核心竞争力的途径是运用先进的企业文化培育和谐的7S体系。     

Profit,productivity, and profit-sharing

This study is an investigation of the effect of profit-sharing on labor productivity. When monitoring labor performance is costly for management, a regular wage/salary contract is insufficient to induce profit-maximizing behavior from the worker. The authors demonstrate that when this profit-maximizing behavior can be induced only through profit-sharing, a linear profit-sharing program will increase productivity and the welfare of both management and labor. The benefit from profit-sharing is increasing up to the point where the utility of additional income is offset by the negative utility of extraordinary effort (working harder or providing higher quality work). The income effect, i.e., the change in negative utility of extraordinary effort given a change in income, can potentially either increase or decrease the point at which the income-effort tradeoff-reaches zero.     

Linking Public Investment to Private Investment. The Case of Spanish Regions

Public investment constitutes one of the main instruments of regional policies. The existence of a direct link between infrastructure and regional income per capita is usually accepted. Literature also describes a positive effect of public investment on private capital accumulation. This paper seeks to provide new empirical evidence on this latter relationship for the case of Spanish regions over the period 1965–1997 using panel data methodology. The results show a positive effect of productive and social public investment (especially in education) on private investment. The spillover effects generated by the productive infrastructures located in other regions do not seem to encourage the private investment in neighbouring regions. Public consumption and interest rate exert a negative influence on private capital accumulation. These results are robust to changes in the econometric specification.