Fiscal policy independence in a European Monetary Union

Do plans for a monetary union in Europe call for limits on the freedom of the country members of the union to use fiscal policy? In order to provide a tentative answer, we simulate the IMF model MULTIMOD, given various shocks, in the case of a European Monetary Union consisting only of France and Germany. The results clearly indicate the possible value of allowing unfettered use of fiscal policy in both countries. The reasons lie partly in differences in the initial position of the two, partly in differences in their preferences. We also examine the change in the policy significance of the current account in the monetary union. Current account imbalances clearly cease to have the same significance in a monetary union; but they do not therefore become irrelevant.     

中国农村公共品供给制度变迁的宏观观察与求解

农民负担问题在实质上是以一种中国特有的连续性、渐进性和系统性制度变迁为促引的利益重组问题 ,只有建构一种以保障农民权益为核心的农村公共品供给制度 ,才能适应我国农村的基本经营制度和现代家庭农业的存在与发展     

第三方物流企业实施VMI战略的SWOT分析

应用SWOT分析法对第三方物流企业采用VMI战略进行分析。基于第三方物流企业自身的优势和劣势，实施VMI战略能起到整合资源、降低成本、提高服务水平和降低风险的作用。针对VMI战略给第三方物流企业带来的挑战。提出了加大信息投入、加强客户联系、提高员工素质、提高管理水平等应对策略。     

基于供应链管理的库存控制策略研究

库存不仅影响到某一节点企业的成本,而且严重削弱了供应链整体的运作效率和竞争力。文章分析了供应链中影响库存放大的各种可能因素,提出了较为可行的库存控制措施。     

临涣工业园施工用电设计与优化

对临涣工业园施工用电的线路架设,设备和设施的选择,变配电点的布置和施工用电设计组织方案进行了较详细的论证,对原设计方所作的施工用电方案在实际施行中作了较大的修正,较好地解决了大型焦化及其配套建设工程在建设期间的施工用电安全运行问题,对同类或相似的建设项目有一定的指导意义。     

Global monetary policy under a dollar standard

This paper derives an optimal monetary policy in a world with a dollar standard, defined as an environment in which all traded goods prices are set in US dollars, so that exchange rate pass-through into the US price level is zero. We show that the US is essentially indifferent to exchange rate volatility, while the rest of the world places a high weight on exchange rate volatility. In a Nash equilibrium of the monetary policy game, US preferences dominate; the equilibrium is identical to one where the US alone chooses world monetary policy. Despite this, we find surprisingly that the US loses from the dollar's role as an international currency, since the absence of exchange rate pass-through leads to inefficient expenditure allocations within the US. Finally, we derive the conditions for a dollar standard to exist.     

Monetary equilibria over an infinite horizon

Summary. Money provides liquidity services through a cash-in-advance constraint. The exchange of commodities and assets extends over an infinite horizon under uncertainty and a sequentially complete asset market. Monetary policy sets the path of rates of interest and accommodates the demand for balances through open market operations or loans. A public authority, which, most pertinently, inherits a strictly positive public debt, raises revenue from taxes and seignorage, and it distributes possible budget surpluses to individuals through transfers. Competitive equilibria exist, under mild solvency conditions. But, for a fixed path of rates of interest, there is a non-trivial multiplicity of equilibrium paths of prices of commodities. Determinacy requires that, subject to no-arbitrage and in addition to rates of interest, the prices of state-contingent revenues be somehow determined.Received: 16 April 2003, Revised: 16 January 2004, JEL Classification Numbers: D50, E40, E50.We are grateful to Pietro Reichlin, Rabah Amir, Tomoyuki Nakajima, Armando Dominioni and Leo Ferraris for helpful discussions and their reading of preliminary drafts. The usual disclaimer applies. An earlier version was circulated as [4].     

浅谈以第三方物流为核心的供应链管理模式

第三方物流是供应链中的关键环节.在供应链条件下,为了增强竞争优势,越来越多的企业选择只做自己擅长领域的业务,而将其他相关业务外包出去,这促使第三方物流的力量逐日强大.随着第三方物流企业逐渐参与供应链的各种业务,其在供应链中的地位也日益重要.另一方面企业越来越重视从战略全局的角度来规划供应链,这预示着以第三方物流企业为核心的供应链模式的出现,也预示着企业将以战略的角度来匹配这种供应链管理模式.     

关于降低我国失业率的构想

从我国失业率的变化趋势看，城市登记失业率、真实失业率都呈上升趋势。究其原因，主要是劳动力供给过剩所使然。而失业率过高，无论是国家还是居民家庭都会为此付出巨大代价。为了减少失业、降低失业率，我们必须从劳动力供求两个方面努力，一方面要积极发展经济，扩大劳动力需求；另一方面尽可能地缩小劳动力供给。     

Creating market anticipation: An exploratory examination of the effect of preannouncement behavior on a new product’s launch

Preannouncements are strategic marketing communications directed at market participants including investors, suppliers, distributors, and buyers. Most empirical literature focuses on antecedents influencing a firm’s preannouncement behavior and on outcomes related to deleterious responses by competitors. This study differs and follows the large body of extant research that examines preannouncing behavior as a deliberate marketing communication process aimed at influencing market participants in the firm’s favor. The authors develop and test a model of preannouncement behavior that affects the success of a new product launch through market anticipation, competitive equity, and new product development resources. The findings indicate that preannouncement behavior engenders new product success through its positive effect on market anticipation—a favorable industry-wide bias in advance of new product introduction—and emphasizes the use of preannouncements as business-to-business marketing communications aimed at influencing current and prospective supply chain partners in the firm’s favor. Kim Schatzel (schatzel@umd.umich.edu) (PhD, Michigan State University) is an assistant professor of marketing at the University of Michigan, Dearborn. Her business experience includes more than 20 years of corporate and new venture work including tenure as the founder and CEO of a multinational $250 million automotive components firm and three start-up technology-based companies. She is interested in the study of new product development, business-to-business marketing communications, and firm reputation issues. She has published articles in theJournal of Marketing, theJournal of Business Research, and theJournal of Product Innovation Management. She is also highly committed to teaching excellence and has won several awards for undergraduate, graduate, and executive teaching. Roger Calantone (rogercal@msu.edu) holds the Eli Broad University Chair in Business at Michigan State University and is also the director of the Broad Information Technology Management Program (ITMP). He is interested in the study of new product innovation and technology decisions in industrial firms. Currently, his research is focused on new product decisions, industrial market segmentation, global logistics, and the use of neural network and autonomous learning models to valuate product components. He is the author of more than 200 refereed academic articles and proceedings and is coauthor of several books. His publications have appeared in journals such as theJournal of Marketing, the Journal of Marketing Research, Marketing Science, Management Science, Decision Sciences, and theStrategic Management Journal.