Learning by doing,spillovers and shakeouts

This paper studies industry evolution driven by non strategic learning by doing and spillovers. We characterize a dynamic process of cost and output changes and its effect on welfare and industry profits. The paper gives conditions for shakeouts to occur and analyzes the key factors affecting these conditions. Since shakeouts could lead to a long-run social loss due to higher market concentration, there is a role for a government to play in limiting unnecessary shakeouts. The most effective way to do so is to enhance spillovers.JEL Classification: L11, L13, O31Correspondence to: Michael TroegeWe would like to thank Hans Mewis, Christophe Moussu and an anonymous referee for valuable comments and suggestions. We also benefited from comments of seminar participants at WZB, Humboldt University, Northwestern University and the EEA/ESEM 1999 meetings. Part of the research was carried out while Michael Tröge was visiting Northwestern University. Financial support by the German Research Council (DFG) is gratefully acknowledged.     

国企改革回头看--南平市国有企业改革的实践与思考

南平市是福建省的老工业基地,国企数量较多、国资存量较大,计划经济体制下积存于国企中的各种矛盾、问题在改革、转轨过程中暴露得比较充分、比较突出,具有普遍的代表性.同时,从上世纪90年代中期起,南平市成为我省国企改革的综合实验区,许多改革举措在南平市先试先行,取得突破,并在全省推广.为了总结南平市国企改革的经验和做法,进一步推动我省新时期国企的改革攻坚,三月下旬,我们赴南平市开展调研,对南平市国企改革进行了一次"回头看".     

Fair Value and Risk Profile for Presale Contracts of Condominiums

Developers usually presell new condominiums, requiring purchasers to make down payments on a contract that allows them to purchase, at a fixed price, the finished condominiums on a later date. This presale contract is akin to a financial call option sold by the builder to the purchaser of the condo. In this paper, we value the presale contract from both the purchaser’s and the developer’s points of view. We examine the influence of various opt-out clauses, different interest rates and other factors on the value of presale contracts. We discuss the extent of risk sharing between the purchasers and the developers according to varying levels of down payments. We conclude that developers enjoy a reduction in risk without a corresponding reduction in expected profits by holding a presale.     

美元汇率变动因素分析

<正>美元汇率变动情况1971年布雷顿森林体系解体后,美元实际上成为国际货币体系的"锚货币",美元汇率变动对全球经济具有重要影响。从名义汇率和实际汇率来看,两种汇率指数变动基本一致,呈现出一定的周期性。一是强势美元周期,即美元汇率持续上升,高位运行。二是弱势美元周期,即美元汇率持续下降,低位运行。第一阶段(1971～1978年):弱势美元周期。1971年美国总统尼克松宣布放弃金本位,停止美元与黄金的固定兑换比率,同年"史密森协议"宣布     

高校统战服务于全面深化改革的思考

党的十八大以来,党中央针对统战工作提出了一系列新思想新观点新要求,中共十八届三中全会确定了全面深化改革总目标,全党全社会要把思想和行动统一到全会精神和中央的重大决策部署上来,自觉把全部力量凝聚到全面深化改革上来。高校统战必须明确新形势新任务,积极领会党中央关于统战的新论断,发挥自身独特优势,勇于担当与创新,努力成为全面深化改革的实践者、探索者、参与者。     

室内挥发性污染物生物毒性研究

随着工业化进程的不断推进,室内空气中的挥发性污染物对室内环境的污染日渐严重,对人体的健康也造成了很大危害。本文对其来源与危害作了介绍并探讨了室内挥发性污染物毒性评价的必要性.     

新形势下高职招生工作的对策研究

本文从实际出发,分析了目前高职招生面临的形势和现状、招生困难的原因,并提出了一些建议和设想,旨在为高职院校摆脱招生困境献计献策。     

经济下行周期下货币政策作用的特征与政策选择

货币政策对经济周期的上升和下行两个不同阶段的作用力具有不对称性。在经济下行与资产价格下跌叠加的情况下,货币政策要采取总量扩张的方式予以应对,并在投向上支持扩大消费、就业以及中小企业、三农等领域。为此,要克服信贷的顺周期倾向,以疏通货币政策的传导机制,并在金融体制上积极创新,推行资产证券化,扩大担保体系建设,拓宽企业融资渠道。     

Technical innovation and 3.5 mobile phone generation: Lessons from Korea

In 1996, the Korean mobile communication market was the first in the world to commercialize the code division multiple access (CDMA). Since then, the voice-based mobile phone market has continued to grow and has now reached near saturation. Having recognized the potential of the mobile data service as a new source of profit, telecommunication operators are scrambling to evolve 3.5 generation (3.5G) technology in order to lead market competition. Recently, the Korean 3.5G mobile telecom market has faced stiff competition from CDMA-based EVDO Rev.A and global system for mobile telecommunications (GSM)-based high-speed downlink packet access (HSDPA). In addition, the world's first wireless LAN-based wireless broadband internet (WiBro) service was commercialized in June, 2006. This paper reviews the current status of the 3.5G technology and analyzes the service standardization strategies from the viewpoint of technological evolutions. This paper also suggests implications for Korea's specific circumstances where different mobile telecom technologies complement and compete with one another. Korea's experiences may serve as important lessons for other countries or operators who try to introduce the 3G and look beyond mobile telecom technologies.     

从资产属性与测度成本看巴泽尔的产权理论

产权理论试图通过研究产权结构和交易成本对经济行为的影响来推动经济学的发展。在微观层面的研究中,巴泽尔的工作发展了产权理论和交易成本理论,使人们对于产权界定、交易成本、交易的组织和方式有了更为深入的认知。他提出资产属性和测度成本的概念,进一步澄清了交易的本质,并应用它们解读现实社会中各种经济现象,说明了公共领域存在的意义、合同以及交易组织差异性的原因。