Modelling the inflation process in transition economies: Empirical comparison of Poland, Hungary and Czech Republic

This paper starts from the observation that inflation in transition economies appears to be persistently high and volatile and attempts to provide some empirical characterisation of the inflation process in three such transition economies: Poland, Hungary and Czech Republic. We first consider the role of monetary growth as a major causal factor for inflation in these economies, and argue that the evidence provides rather weak support for the causal relationship. We then propose a transition economy cost-plus model and estimate this using the equilibrium-correction modelling (ECM) strategy augmented by introduction of a number of transitory factors and changes in the internal structure of the real economy which we believe may have had a significant impact on inflation in these economies. We show that this approach enables us to account for long-run inflation in these economies from the early 1980s to the present despite the turbulence of the latter part of the sample period. Our results support wage and exchange rate based inflation policies.     

Welfare paradox in economic restructuring

It can be proved theoretically that, because of the previously existing price and structural distortion, a welfare paradox is possible in the former command economies during the transition period. This paradox refers to a situation in which a welfare gain is accompanied by a fall in the reported GNP figure.     

Trade Union Derecognition in Britain, 1988–1994

Since the initial studies of derecognition, many articles have focused on the issue, by and large pointing to a slow increase in derecognition. However, a small number have indicated it is actually much larger. This paper shows that derecognition is even greater than these suggest and that its nature has changed. The paper looks at the contexts of this rise but argues that derecognition should not yet be seen as a major problem facing the unions.     

国际战略联合的成功之路

世界经济中的种种迹象表明,国际战略联合这一国际化经营的新方式正日益显示出其重要性,并终将成为拓展国际化经营活动的主要方式。作为国际化经营活动主角的跨国公司。     

企业处理顾客、供销商、同业者关系的战略观点

为了可持续发展,忠诚的顾客关系建立在企业集中战略资源满足顾客合理需求的基础上,是具有真实性、价值性和持久性的营销。稳定的供销关系,对于企业保证产品和服务质量、降低原材料采购和市场拓展成本、降低市场风险具有重要意义,是互惠互利、休戚与共的关系。而基于公平合作同业者关系,可以使企业与同业者分享技能、信息、技术和市场机会,分担成本。     

我国房地产中介服务业的发展机遇和对策

本文阐述了住房新体制给房地产中介服务业带来的发展机遇,并分析了在该机遇下应采取的对策。目的在于建议政府部门对房地产中介服务业加以培育、规范和引导,以给该行业的发展营造较好的成长环境。同时,房地产中介服务业应把握机遇,努力提高自身素质,以促进城镇住房制度改革的进一步深化。     

Modeling Conditional Yield Densities

Given the increasing interest in agricultural risk, many have sought improved methods to characterize conditional crop-yield densities. While most have postulated the Beta as a flexible alternative to the Normal, others have chosen nonparametric methods. Unfortunately, yield data tends not to be sufficiently abundant to invalidate many reasonable parametric models. This is problematic because conclusions from economic analyses, which require estimated conditional yield densities, tend not to be invariant to the modeling assumption. We propose a semiparametric estimator that, because of its theoretical properties and our simulation results, enables one to empirically proceed with a higher degree of confidence.     

Stochastic Technology, Risk Preferences, and Adoption of Site-Specific Technologies

A model of farmer decision making is developed to determine the extent to which uncertainties about soil fertility and weather affect the value of site-specific technologies (SSTs) using jointly estimated risk and technology parameters. Uncertainty can lead risk-averse farmers to apply more fertilizers and generate more pollution than in the certainty case. Ignoring uncertainty and risk aversion would overestimate the economic and environmental benefits of SSTs and underestimate the subsidy required to induce adoption. Accounting for uncertainties and risk preferences might explain the low observed adoption rates of SSTs. Improving the accuracy of SSTs would increase the incentives for adoption.     

对《形状和位置公差》新标准的理解和应用

通过对《形状和位置公差》新、旧国际的对比，综述了新、旧标准间的不同之处、便于迅速了解和应用新标准。     

Price rigidities and institutional variations in markets with posted prices

Summary Standard laboratory posted-offer markets respond slowly and incompletely to demand shocks. In these one-sided markets, where sellers control the setting of prices, very little information is transmitted via the process of exchange. For this reason, traders have trouble distinguishing randomness in their own experience from changes in market fundamentals. This paper reports the results of twelve laboratory markets conducted to assess whether some common variants to standard posted-offer rules can correct the adjustment deficiences. Although discounting, multiple postings and excess demand information all improve performance, we find that response remains poor, and efficiencies low.Support for this research was provided by the National Science Foundation (SBR 9319842 and SBR 9320044), and the University of Virginia Bankard Fund. Data are archived at FTP address: fido.econlab.arizona.edu. We wish to thank Charles Plott and Shyam Sunder for useful comments on an earlier draft of this paper. The usual disclaimer applies.