The power of the oil countries

What will be the consequences of the oil producing countries’ strong market position for these states themselves as well as for the industrial nations relying on the inflow of oil?     

重庆第三产业发展水平差异分析

选取重庆市40个区县第三产业发展评价数据,运用多元统计因子分析方法,对重庆市各区县第三产业发展水平进行了定量分析。分析表明重庆市各区县第三产业发展水平不仅在三大经济圈之间存在差异,而且在三大经济圈内部也存在较大的差异,重庆市各区县第三产业发展不平衡影响了全市整体第三产业发展水平。     

江苏省集中式饮用水水源保护区划分研究

此文对江苏省在实际工作中如何运用<饮用水水源保护区划分技术规范>(HJ/T338-2007),结合江苏省现行保护区划分的相关文件和规定,具体划分河流型、湖库型和地下水饮用水水源保护区,明确水功能区断面水量、水质控制,从而实施流域、区域及重点保护范围的统筹考虑进行了研究.     

Endogenous TFP and cross-country income differences

Using a class of endogenous growth models that exhibit international spillovers, we show that most of the cross-country differences in output per worker are explained by barriers to the accumulation of rival factors (physical and human capital) rather than by barriers to the accumulation of knowledge. This is shown theoretically, by comparing models with exogenous and endogenous TFP, and quantitatively by using a carefully calibrated version of the model. The main finding is that barriers to the accumulation of physical and human capital explain up to 64% of income gaps relative to the US.     

CENTRAL BANKS: FROM POLITICALLY INDEPENDENT TO MARKET-DEPENDENT INSTITUTIONS

Responses to the financial crisis are undermining the Chinese walls painfully built between monetary and fiscal authorities. Central banks and state treasuries are working side by side as lenders of last resort. Central banks are helping economic ministers with purchases of public debt and discounting of private paper. Regulation and control of financial institutions is now a political football. Central banks must be seen again as market-dependent institutions in a world of currency competition. Privatisation in law or in fact is back on the table.     

经济不发达地区银行信贷与经济增长关系的实证研究——基于1978-2006年青海省数据的分析

本文基于1978-2006年的青海省数据，选取银行信贷总额、中长期信贷、国内生产总簋作为变量．以单位根检验、协整检验和葛兰杰因果检验等计量方法。对不发达地区银行信贷与经济增长关系问题进行了研究。     

Modelling monetary transmission in UK manufacturing industry

This paper studies the transmission of monetary policy to industrial output in the UK. In order to capture asymmetries, a system of threshold equations is considered. However, unlike previous research, endogenous threshold parameters are allowed to be different for each equation. Such an approach may be appealing from an economic point of view and is shown to be of importance after suitable econometric evaluation. Results show evidence of cross-sectional differences across industries and asymmetries in some sectors. These findings contribute to the debate about the importance of alternative economic theories to explain these asymmetries and support the use of a sectorally disaggregated approach to the analysis of monetary transmission.     

The dynamics of persistence in US inflation

Using a recently developed time-series approach, we show that post-WWII US inflation became highly persistent during the ‘Great Inflation’ period, and then switched back to a low persistence process during 1984, and has remained stationary until the present day.     

The International Financial Crisis Viewed by Experts

The occurrence of the international financial crisis and the spread out of its effects on the global economy prompted experts around the world to think about how to manage the crisis and which measures to implement in order to restore normal economic and financial conditions. In this paper, we present and discuss the results of an international expert survey. We use these experts' perceptions to pursue a twofold target to understand their perceptions about the causes of the crisis, and of the policies to solve it. Interestingly, experts seem to broadly concur on what caused the crisis but their perceptions diverge regarding the policies. Furthermore, substantial differences in perceptions emerge between the Euro Area and the United States. We also find that the Federal Reserve and the European Central Bank monetary policies during the crisis are judged barely adequate. Finally, different views distinguish academicians from other experts .     

Dictatorial voting operators

Voting operators map n-tuples of subsets of a given set X of candidates (the voters choices) into subsets of X (the social choice). This paper characterizes dictatorial voting operators by means of three conditions (the non-emptiness condition A1, the independence condition A2 and the resoluteness condition A3) motivated by the idea of transferring to the social choice properties common to all the voters choices. The result is used to refine Lahiris (2001) characterization and to derive dictatorial results in other three types of aggregation problems, in which choice functions are transformed into choice functions, binary relations into choices and binary relations into binary relations.Received: 20 May 2002, Accepted: 5 August 2003, JEL Classification: D70, D71Antonio Quesada: Present address: Departament dEconomia, Facultat de Ciéncies Económiques i Empresarials, Universitat Rovira i Virgili, Avinguda de la Universitat 1, 43204 Reus (Tarragona), Spain. I would like to express my gratitude to the referees for their contribution to improve this paper.Part of this work was done at the Departament dAnálisi Económica, Facultat dEconomia, Universitat de Valéncia, Avinguda dels Tarongers s/n, 46022 Valéncia, Spain.