Measuring the effects of dollar appreciation on Asia: A FAVAR approach

Exchange rate shocks have mixed effects on economic activity in both theory and empirical VAR models. In this paper, we extend the empirical literature by considering the implications of a positive shock to the U.S. dollar in a factor-augmented vector autoregression (FAVAR) model for the U.S. and three large Asian economies: Korea, Japan and China. The FAVAR framework allows us to represent a country’s aggregate economic activity by a latent factor, generated from a broad set of underlying observable economic indicators. To control for global conditions, we also include in the FAVAR a “global conditions index,” which is another latent factor generated from the economic indicators of major trading partners. We find that a dollar appreciation shock reduces economic activity and inflation not only for the U.S. economy, but also for all three Asian economies. This result, which is robust to a number of alternative specifications, suggests that in spite of their disparate economic structures and policy regimes, the dollar appreciation shock affects the Asian economies primarily through its impact on U.S. aggregate demand; and this demand channel dominates the expenditure-switching channel that affects a country’s export competitiveness.     

IPv4过渡到IPv6技术分析及其应用前景

IPv6是IETF设计用于替换现行版本IP协议IPv4的下一代互联网协议。本文首先介绍了IPv4的局限性,阐述了IPv6的技术优势,并探讨了从IPv4到IPv6的过渡技术,最后对IPv6的应用前景提出展望。     

物流基础设施大型独立建设项目协同管理研究

针对物流基础设施大型独立建设项目参与方众多,管理繁杂等问题,在项目协同管理分析的基础上,重点研究了组织结构协同、进程协同、环境协同、目标协同四个维度,并就目标协同优化进行了研究。     

校园网IPv4到IPv6过渡策略的研究

随着互联网的不断普及与发展,IPv4地址已经分配殆尽。为了适应网络的发展,越来越多的企业需要将自己的网络升级为IPv6,各大高校将自己的校园网从IPv4过渡为IPv6成为必然趋势。本文分别分析、研究了双协议栈、隧道技术、首部转换三种策略,为IPv6校园网的过渡提供了理论参考。     

谈谈新型号1WG4微型耕作机

目前,我国已成为世界上最大的设施栽培国家,设施农业包含塑料大棚、温室、植物化工厂三种不同的技术层次,当前发展较快的主要有塑料大棚和连栋温室,但与之相适应的温室大棚耕作机械发展较慢,特别是微型机械的发展更为迟缓。本文推介一种新机型1WG4,旨在促进微型耕耘机的普及和发展。     

Globalization and financial development

This paper argues that globalization is a key factor in stimulating institutional reforms in developing countries that promote financial development and economic growth. Advanced countries can help in this process by supporting the opening of their markets to goods and services from emerging-market countries. By encouraging these countries to increase their participation in global markets, advanced countries can create exactly the right incentives for developing countries to implement the reforms that will enable them to have high economic growth.     

Adjusted net saving and welfare change

The World Bank has estimated Adjusted net (or genuine) saving (ANS) as a macro level index of sustainable development. ANS extends the conventional net saving by adding human capital accumulation and deducting natural resources losses. This paper tests ANSas an index of sustainable development. It examines whether ANS explains changes in welfare. Welfare is measured by Infant mortality rate (IMR) and Human Development Index (HDI). The study was conducted in 36 selected developing and developed countries and covers the period 1971-2000. The results suggest a positive and significant relationship between Adjusted net saving and aggregate welfare but weak in magnitude.     

Optimal government spending in an economy with imperfectly competitive goods and labor markets

This article examines the growth‐ and welfare‐maximizing government spending in an economy that is characterized by market imperfections, namely, unionization in the labor market and monopolistic competition in the goods market. To thoughtfully explore the optimal spending, two distinct scenarios where the government spending is financed by labor/capital income taxes are considered. Our analysis shows that the optimal growth‐maximizing government spending is inconsistent with the welfare‐maximizing government spending. Moreover, the growth‐maximizing/welfare‐maximizing government spending have quite different responses to distinctive market imperfections (markups in the goods and labor markets), particularly in the scenarios with distinctive financing modes. Our numerical study indicates that the growth‐maximizing and welfare‐maximizing government expenditures, in general, are more responsive to the change in the labor market friction than that in the product market friction and the growth‐maximizing government spending is more likely to be lower than the welfare‐maximizing government spending.     

基于4PL的工程项目物流运作模式研究

提出基于4PL的工程项目物流运作模式,集成工程运作过程链中多方企业的资源,以物流信息为核心,合理调控,可以促进工程项目物流顺利运行。     

Compensation for Regulatory Takings with a Redistributive Government

Richard Epstein has argued that governments should pay compensation for regulatory actions that impose costs on a subset of society. I develop a model in which there are two groups, one of whom benefits from a regulation, and one of whom bears the costs. A potentially biased government sets the level of the regulation and also redistributes income across the two social groups via the tax system. When taxes are nondistortionary, the government chooses the efficient level of the regulation to maximize wealth and then uses the tax system to distribute this wealth according to its preferences. If the government is forced to pay compensation for the costs of the regulation, it simply undoes this via the tax and transfer system. When taxes are distortionary, societal wealth is monotonically decreasing in the degree of compensation to be paid, so that the optimal level of compensation is zero.