OPTIMAL MONETARY POLICY WITH THE STICKY INFORMATION MODEL OF PRICE ADJUSTMENT: INFLATION OR PRICE‐LEVEL TARGETING?

I investigate the optimal monetary policy in a New Keynesian macroeconomic framework with the sticky information model of price adjustment. The model is solved for optimal policy, and welfare implications of three alternative monetary policy regimes under this optimal policy are compared when there is a cost‐push shock to the economy. These monetary policy regimes are the unconstrained policy, price‐level targeting and inflation targeting regimes. The results illustrate that optimal policy depends on the degree of price stickiness and the persistence of the shock. Inflation targeting emerges as the optimal policy if prices are flexible enough or the shock is persistent enough. However, the unconstrained policy or price‐level targeting might be preferable to inflation targeting if prices are not very flexible and the shock is not very persistent. The results also show that as prices become more flexible, the welfare loss usually gets bigger.     

基于专用性资产视角的供应商信任治理

精益生产中最紧密层供应商为适应总装厂要求进行了大量的专用性资产投资,产生多种机会主义风险,双方通过构建信任机制进行有效的抑制。在构建中除了重视信誉、信息、风险分散、激励与约束这些常规驱动因素外,十分注重资产的专用性投资、供应商技能与规模、双方地位、共同过程分析这些特殊驱动因素。本文在研究这些信任驱动因素的内在作用机理后,建立了供应商信任治理模型。     

Removing an ‘insuperable obstacle’ in the way of an objectivist analysis: Sraffa's attempts at fixed capital *

Abstract

The paper discusses Sraffa's consecutive attempts in the late 1920s and early 1940s to tackle a problem which endangered his objectivist, surplus-based approach to the theory of value and distribution aimed at reviving the standpoint of the classical economists. Whilst with circulating capital the value transfer to the product and the physical ‘destruction’ of the input are one and the same thing, with fixed capital this is not so. Sraffa eventually overcame the difficulty in terms of the joint products-method. This allowed him to explain relative prices and the rate of profits strictly in ‘material terms’.     

Transfer sciences: management of distributed knowledge production

This paper is concerned to develop the notion of transfer science to take account of what is perceived to be the emergence of a new mode of knowledge production. The new mode which is characterised by the production of knowledge in the context of application, by transdisciplinarity, by homogeneity and organisational diversity, by enhanced social accountability and reflexivity, and by new forms of quality control. The thrust of the new mode of knowledge production is to call into question conventional notions of knowledge transfer and focuses instead on the organisational and managerial implications of the emergence of a socially distributed knowledge production system. The paper concludes with a brief discussion of the policy implications of the emergence of the new mode of production. Needed in the new mode are science and technology policies which promote institutional permeability and policies which enable governments, acting through their civil service to act as brokers in the new knowledge production process. Such brokerage is necessary to enhance permeability between institutions within a particular country but also to increase co-operation and collaboration between institutions across countries.     

“单位制”城市空间的社会生产研究

作为计划经济时代政治、经济和社会体制的基石,单位制度对我国当前的社会体制转轨和社会经济转型产生了极为广泛和深刻的影响。而"单位制"城市空间生产方式构成了我国当前城市空间转型的基底,有别于理论形态的"社会主义空间生产"的规则。对"单位制"城市空间生产的研究,既是对既有城市发展路径的反思,又是对城市未来发展模式的探索,是我国城市空间转型研究的重要内容。从"空间生产"理论出发,从政治经济空间组织、计划经济资源配置方式、公有制的土地制度和重工业导向的城市经济发展路径等方面概括了"单位制"空间生产的政治经济基础,揭示出"单位制"城市空间生产方式在组织单元、政治经济功能、生产主体和功能单元、生产内容和职能、空间生产的价值倾向以及相应的空间分化形态等方面的基本特点,同时指出新的政治经济背景下,"单位制"空间生产方式的效率相对低下、城市企业主义治理下空间商品化属性凸显、空间的"使用价值"与"交换价值"悖离而导致空间冲突锐化、"空间公平"的追求的愈加重要等问题,并进而指出城市空间生产方式由封闭式的"单位制"向开放式的"社区制"转型的趋向。     

Comparative statics for state-contingent technologies

The implications of supermodularity conditions in comparative-static analysis are analyzed for a generalized version of the separable-effort representation of a firm facing stochastic prices and a stochastic technology. Previous analysis is generalized in two ways. General risk-averse, as opposed to expected-utility, preferences are considered. The stochastic technology is represented by an Arrow–Debreu state-space representation. It is shown that results familiar from the theory of the price-taking firm in the absence of risk generalize to the uncertain case.      

土地垄断供给、纵向市场关系与房地产价格——兼论基于价值链分析的房地产市场竞争促进政策

地价与房价之间并不仅仅是一种成本联系.土地市场与房地产产品市场之间还存在着纵向市场关系,在两个市场均为寡头垄断的情况下,则会存在着双重垄断加成的现象.与上下游产业之间的市场交易关系相比,垂直一体化和垂直约束同样是组织住房生产的有效方式,并有助于增加消费者剩余.此外,促进房地产开发价值链上各环节的竞争,消除其垄断行为,将是降低房价和增进居民福利的重要选择.