Testing hysteresis effect in U.S. state unemployment: new evidence using a nonlinear quantile unit root test

We revisit hysteresis effect in the unemployment rate of each of the 52 states of the United States using nonlinear quantile unit root test over the period 1976M1–2016M7. Our results indicate that unemployment rate of the U.S. economy as a whole displays hysteresis effect over recessionary periods. Nineteen out of 52 states display hysteresis behaviour over the period 1976–2016. For the remaining 33 states, we find four types of behaviours. Some states display stationarity behaviour almost in all quantiles. Some display hysteresis over recessionary periods and in contrast some display hysteresis over expansion period.     

European Integration,Capitalist Diversity and Crises Trajectories on Europe’s Eastern Periphery

ABSTRACT

European policy responses to the Global Financial Crisis and its European manifestation have set off a scholarly debate whether different national varieties of capitalism are equally able to cope with deepened European integration. To date, this debate has mostly focused on the contrasting fates of the thriving northern export-oriented capitalisms and the ailing southern European ones. This paper seeks to broaden the debate by focusing on Europe’s Eastern periphery. It argues that a combination of domestic transformation strategies and the EU’s accession policies resulted in two different growth regimes on Europe’s Eastern periphery: a dependent export-driven in the Visegrád countries and a dependent debt-driven in the Baltic States. On the basis of the pre- and post-crisis trajectories of these two growth models, this paper finds that because East Central European capitalisms were profoundly shaped by EU integration, they are on balance also more compatible with deepened integration than Southern European capitalisms.     

美国工业机器人初创期的技术创新

工业机器人于20世纪50年代末诞生在美国。通过梳理美国工业机器人初创期（1959—1975）的技术创新,发现从实验室研究阶段中的技术突破,到推向市场阶段中的技术优化,美国一直占据机器人技术的制高点,但针对技术的产业化,政府与企业没有采取积极的政策措施,导致工业机器人在市场应用中处于劣势。以史为鉴,我国工业机器人的超高速发展需要经验和教训。     

中美农业贸易的互补性研究

采用贸易结合度指数(TCD)、出口相似度指数(SI)和贸易互补性指数(TCI)等模型,根据联合国粮农组织(FAO)、美国FAS-Online和中国海关数据库的数据,对中美两国16种主要出口农产品的互补性进行了定量分析。结果显示:(1)中美两国农业贸易依存度逐步提高,美国对中国的依赖程度高于中国对美国的依赖程度。(2)中美两国农业贸易具有良好的互补性,中国入世后两国农业贸易互补性增强。基于上述研究结论,提出了互利双赢的政策建议。     

浅析美国在华直接投资与中美贸易的关系

贸易和投资——世界经济全球化的两个主要推动力量,日益向着一体化的方向发展。随着经济全球化的日益深入,中美两国的经贸联系越发密切。美国是当今世界经济的主要引擎之一,其在华的直接投资对中关进出口贸易产生着举足轻重的影响。文章分析了美国在华直接投资与中关贸易的发展趋势及其特点,并在此基础上探讨了美国对华投资与中关贸易互相促进的关系。     

欧盟气候政策的利益导向及对中国的启示

自20世纪90年代以来,欧盟一直是全球气候谈判的主导者,其低碳技术领先全球,将世界各国尤其是美国、中国等排放大国纳入其主导的全球气候谈判体系符合欧盟三大布局主导下的核心战略目标.全球气候谈判的焦灼,迫使欧盟通过欧盟—拉美峰会、非加太—欧盟联合大会等平台,拉拢利益合作伙伴,以增加其主导气候谈判走向的砝码.欧盟气候政策的转变,削弱了气候谈判中以中国为代表的发展中国家谈判阵营的力量,使中国日益面临谈判伙伴减少,乃至被孤立的风险,增加了未来的谈判压力和难度.为此,中国要加紧对欧盟气候外交长期战略布局的研究,密切关注欧盟今后的气候外交政策动向,制定长期气候外交政策战略,同时加紧国内低碳转型的速度与力度.     

Memberships Levels in U. S. Private Clubs During the 2008–2010 Economic Downturn

This study measured membership changes in private clubs in the United States during the economic downturn from 2008 to 2010. Specifically examined were the changes clubs experienced with their number of members, waiting lists, and attrition rates. A letter was sent via e-mail to the same 1,000 private clubs that were sent a survey in a similar study conducted by Ferreira and Gustafson (2006 Ferreira, R. R. and Gustafson, C. M. 2006. Declining memberships during an economic downturn in U.S. private clubs. International Journal of Hospitality & Tourism Administration, 7(2/3): 3–18. [Taylor & Francis Online] , [Google Scholar]) The managers of these clubs were members of the Club Managers Association of America. The majority of respondents managed country clubs and member-owned clubs, representing different areas of the United States. An overall response rate of 53% was achieved. Most clubs experienced a decrease in the overall number of members and an increase in annual attrition rate. Fewer clubs reported having a waiting list of members wanting to join. The clubs without waiting lists reported a larger number of membership openings in their clubs. The results of this study suggest the levels of memberships in many private clubs are heavily influenced by economic conditions. An implication from this study is that clubs need to implement membership development strategies during economic downturns because of the decline in the number of members, candidates proposed, and waiting lists during these periods.     

Differences Between Management Philosophies Among American and Chinese Hotel Managers: A Cultural Comparison Between Las Vegas and Shanghai

The aim of this study is to ascertain, in an international tourism context, whether there are cultural discrepancies between hotel employees who have been educated and trained in a host country, and guests who have traveled to that country, given that each group is imbued with their own national culture. The findings indicate that not only do Thai frontline hotel employees have different expectations about the behavior of Japanese and Korean customers, but that the expectations of both customer groups concerning their own behavior differ from those of Thai employees. A significant gap was found in perceptions of actual behavior between the international customers and hotel staff, suggesting that cultural discrepancies are indeed present, but also vary by ethnicity. The scale of the discrepancy between Thai employees’ perceptions of Japanese tourists’ behavior, for example, was larger than in the case of the Korean customers. Comparison of the expectations of the two international customer groups also revealed strong differences.     

Exchange‐rate volatility and US–Hong Kong industry trade: is there evidence of a ‘third country’ effect?

In an effort to better understand the determinants of trade flows worldwide, researchers have recently incorporated external volatility (in addition to that of the partners’ bilateral exchange rate) into their models. The so‐called ‘third country’ effect is present if adding this term changes the bilateral volatility estimates that are found when external volatility is omitted. This study examines US exports to Hong Kong for 143 industries, and imports from Hong Kong for 110 industries, and finds two key results. First, expected inflation due to Hong Kong's dollar peg leads to increased US exports in a large number of industries. Second, comparing our results with those of a previous study shows strong evidence of a ‘third country’ effect, especially for US imports. Nonparametric tests suggest that these effects differ by sector: for both exports and imports. Manufacturing industries that enjoy a large trade share are less likely to experience this effect once external volatility is incorporated into the analysis.     

A New Economic Strategy for the USA: A Framework of Alternative Development Notions

This paper seeks to provide a new economic strategy for the United States while considering a range of development-related impediments to the country’s recent economic performance. It is argued here that strategic industrial policy needs to come to the center stage if local production growth, competency upgrading, and competitiveness improvement are to be aggressively pursued. The first section outlines the present context of the US economy by discussing economic and socio-cultural aspects. The second main section frames an alternative development paradigm for the United States. Policy recommendations are discussed in the third section. Some brief conclusions end the paper.