Oil prices and world inflation

In this paper we attempt to address the nature of the causal relationships between oil prices and U.S. inflation. We use a procedure developed by Granger to assess “causality” or, more precisely stated, “informativeness.” Our results confirm that higher oil prices have increased the U.S. WPI. Our results also support OPEC's contention that their price increases have in part been a result of worldwide inflation.     

The impact of the composition of government spending on private consumption and investment: some impirical evidence

Government spending is disaggregated into investment and consumption components to investigate both theoretically and empirically whether public sector consumption and investment spending crowd out private sector expenditures in the same categories. The hypothesis is that the composition of public sector expenditures may also be important in influencing the composition of private expenditures, rather than just the total level of public expenditure. The empirical results do not indicate that public expenditures in these two categories significantly influence their private sector counterparts.     

评长篇小说《风雨兼程》的特色

《风雨兼程》是以西部大开发为主题的长篇小说,具有较高的文学价值,其特色是:曲折离奇、扣人心弦;悬念结尾,引人入胜;情景交融、推动情节;人物描写、爱憎分明;语言幽默、富有哲理。     

评《阿拉比》的艺术构建

在短篇小说《阿拉比》中,詹姆士·乔依斯采用独特的叙述策略,别具一格的背景设置与氛围描写,精妙 的象征手法,并使三者相互映衬交融,揭示主题,成就了与众不同的艺术构建,显示了作者独特的创作技巧。     

Model of management learning styles as a predictor of export behavior and performance

This paper reports the findings of a preliminary investigation of the relationships between the export performance and behavior of firms and the search for market information by the principal international marketing executives of these firms. The first part of the study deals with acquiring objective market information, and the second part is concerned with the acquisition of experiential market knowledge. While the findings of the experiential portion are inconclusive, the use of learning theory in this aspect of the work provides direction for future research in this area.     

Cooperative research and the firm

This paper models cooperative R & D involving the university, the government, and the firm, using a linear programming format to determine the optimal cooperative structure or, “Who does what?” Both prime and dual are discussed. Sensitivity and simulation techniques are discussed as analytical tools to evaluate the effect of uncertainty and returns to scale on the optimal mix or structure of cooperative R & D. The value of the approach is both heuristic and analytical. Some problems and limitations of the approach are discussed briefly.     

Cooperative research,government involvement,and timing of innovations

Government involvement in the innovation process, both direct and indirect, is introduced into a standard innovation time-cost trade-off model. Different forms of involvement are treated and each form entails cooperation between the firm and the government. The optimal development time (or project completion date) is determined and analyzed parametrically. This analysis produced five hypotheses concerning the effect of government involvement on the timing of innovations. Selected empirical applications (or tests) of the hypotheses are presented and then concluding remarks are made.     

Public credit and liquidity in James Steuart's Principles

Abstract

The aim of this article is to shed new light on the monetary and financial theory of James Steuart (1767) through his examination of the speculative bubbles of 1720: that is, the John Law System in France and the South Sea Bubble in England. In contrast to most contemporary writers – particularly David Hume and Adam Smith – Steuart had a balanced opinion about these two financial experiments. On the one hand, Steuart considered them worthwhile, since they were attempts at public debt restructuring by reducing its expense and increasing its liquidity. Moreover, according to Steuart, a well-managed public debt favours the liquidity of both banks and the financial market. These worked together for the growth of wealth. However, on the other hand, Steuart claimed that the failure of these experiments was due to: (i) a poor management of money; (ii) a violation of credit rules and its corollary, the weakness of banks; (iii) the adoption of contestable dividend and financial information policy. This article presents Steuart's proposals for creating the liquidity of both banks and the financial market via a well-managed public debt.