Inflationary Finance, Capital Controls, and Currency Substitution

This paper studies currency substitution in an environment where agents' inflation tax-evasive demand for foreign money is balanced by the concern for the possibility that the government may impose economy-wide capital controls under which foreign currency transactions are costly. Under the assumption of endogenous beliefs, the results show a persistent demand for foreign money despite efforts by the government to reduce inflation. In addition, the economy can exhibit multiple, Pareto-ranked steady states with different levels of currency substitution. The stability analysis suggests that the economy converges to the inferior steady state, on the "wrong side" of the Laffer curve.     

我国出口贸易贫困化增长的现状、原因及对策

＂贫困化增长＂理论是分析国际贸易对发展中国家影响的重要理论,最早由巴格瓦蒂提出。本文对中国出口贸易出现贫困化增长的现状与原因进行了分析,其中贸易增长的动力转换不到位是根本原因。在此基础上,提出了相关对策,如加快产业结构调整、转变出口增长方式,创造良好的外贸体制环境等。     

现阶段我国的市场均衡问题探讨

进入买方市场后,我国一直存在内需不足、经济增长乏力、失业压力日益加大、物价持续下降等一系列经济不景气的现象,政府虽然采取了一系列措施刺激消费需求,但社会经济发展失衡的根本原因--总供给与总需求的不平衡现象一直未能从根本上得到解决。本文主要对我国经济目前市场存在的问题作一探讨并提出相应的思考与看法。     

浅谈大体积混凝土防裂施工技术

文章分析了大体积混凝土裂缝产生的原因,从工程实践中介绍了防止裂缝发生的措施,可在工程实践中提供参考.     

实现又好又快要着眼于解决深层次矛盾

中央经济工作会议明确提出下一步经济社会发展的总体目标,由过去的"又快又好"转变为"又好又快".这是一个重要的战略性转变,是落实科学发展观的根本要求.做到又好又快,要着眼于解决体制机制中的深层矛盾.     

Demographic Change and Policy Responses: Implications for the Global Economy

The fertility declines associated with the final phase of the global demographic transition have led to slower population growth and accelerated ageing in developed countries and in several advanced developing countries. A global demographic and economic model is used to assess the implications of these changes for population sizes, age‐gender distributions, labour force growth and their implications for economic performance. A baseline projection that incorporates declining fertility is compared with a hypothetical constant population growth scenario. The results show that slower population growth and ageing reduces average saving rates in industrial regions, yet global investment demand is also slowed and saving rates rise in developing regions, so there is no net tightening of financial markets. Increased aged labour force participation, considered one solution to the resulting rise in aged dependency in advanced regions, is found to redistribute investment in favour of the industrialised regions and hence to accelerate their per capita income growth, while conferring on the other regions compensatory terms of trade improvements. The alternative of replacement migration is found to require inconceivably large population movements. It also impairs real per capita growth in destination regions but by least in Western Europe, where the terms of trade are improved by the immigration.     

武汉都市圈结构特征与结构优化研究

中国中部地区崛起迫切需要战略支点.在分析武汉市及周边城市初步具备都市圈形态的基础上,从规模结构、职能结构和空间结构的角度对武汉都市圈进行较为系统的分析,并提出了优化思路.     

基于股东财富最大化的应收账款模型

从股东财富最大化的财务管理目标出发，根据企业应收账款与其他要素的关系，建立最优应收账款模型。以此为基础，最优应收账款模型可与其他财务管理的应用模型结合起来，更好地为企业管理服务。