Imports and TFP at the firm level: the role of absorptive capacity

This paper estimates the effect of the decision to import intermediate goods and capital equipment on Total Factor Productivity (TFP) at the firm level on a panel of Spanish firms (1991–2002). We use two alternative approaches. In the first, we estimate TFP and apply a diff‐in‐diff estimator with a control group constructed by propensity‐score matching. In the second, direct method, we estimate TFP with imported inputs as a state variable in one stage. Both approaches show that the effect of a firm's decision to source intermediates and capital equipment abroad on its TFP depends critically on its capacity to absorb technology, measured by the proportion of skilled labour.     

ETF arbitrage: Intraday evidence

We use two extremely liquid S&P 500 ETFs to analyze the prevailing trading conditions when mispricing allowing arbitrage opportunities is created. While these ETFs are not perfect substitutes, our correlation and error correction results suggest investors view them as close substitutes. Spreads increase just before arbitrage opportunities, consistent with a decrease in liquidity. Order imbalance increases as markets become more one-sided and spread changes become more volatile which suggests an increase in liquidity risk. The price deviations are followed by a tendency to quickly correct back towards parity.     

浅谈我校卫星电视接收系统

我校的卫星接收系统处于数字电视的前端,采集鑫诺一号卫星的6套节目作为信源,并与有线电视传输系统结合输出有线电视,和校园电视台系统结合实现卫星节目内容的采、编、审、播、存业务管理。     

基于灰灾变预测的“牛鞭效应”解决办法

简要介绍了灾变灰预测理论,并将此理论用于零售终端企业的库存控制,通过零售商的合理库存预测来减轻牛鞭效应的影响。之后给出实际案例进行了相关的研究和分析,证明灾变灰预测是减轻牛鞭效应的很好思路。     

甜玉米金银甜1号选育及栽培技术要点

金银甜1号是广西瑞恒种业有限公司以自交系MT089为母本,自交系F209为父本,通过系谱法选育育成。2011年通过广西品种审定委员会审定。该品种在南宁种植从出苗至鲜果穗采收期春季平均88天,秋季平均68天,2011—2013年种植平均鲜果穗产量875—1148Kg/667m2;品质评价汇总感观品质26.00分,气味6.00分,色泽6.25分,风味8.25分,甜度15.75分,柔嫩性8.50分,皮薄厚14.75分。总分为85.5分,按国家区试鲜食玉米感官等级指标评为二级。     

Gold and the US dollar: Hedge or haven?

Using a model of dynamic conditional correlations covering 23 years of weekly data for 16 major dollar-paired exchange rates, this paper addresses a practical investment question: Does gold act as a hedge against the US dollar, as a safe haven, or neither? Key findings are as follows. (i) During the past 23 years gold has behaved as a hedge against the US dollar. (ii) Gold has been a poor safe haven. (iii) In recent years gold has acted, increasingly, as an effective hedge against currency risk associated with the US dollar.     

流行病应急响应的国际合作——联合国领导下的禽流感防疫机制透析

随着跨国公共卫生安全在全球治理中分量日益加重,流行病应急响应（Epidemic preparedness and response）的国际合作逐步被提上了全球日程。2005年,人感染高致病性禽流感在全球范围内的大规模传播,国际社会尤其是联合国领导下的相关组织如何构建防疫机制来应对这一形势成为焦点。经过多年的努力,联合国领导下的禽流感防疫机制日臻完善,该机制主要包括核心领导机构、法理基础、重要应急措施以及相关国际行为体参与4个方面。同时,该机制的有效性与局限性并存,值得引起人们的注意。