Are hyperinflation paths learnable?

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is on stationary hyperinflationary paths near the high-inflation steady state. These paths are shown to be stable under least-squares learning if agents can utilize contemporaneous data. In an economy with a mixture of agents, some of whom only have access to lagged data, stable hyperinflationary paths emerge only if the proportion of agents with access to contemporaneous data is sufficiently high.     

Value and liquidity under changing market conditions

Papers studying the liquidity of a market tend to focus on decisions involving the trade-off between the selling price and the time-till-sale for a given set of market conditions. This paper characterizes market conditions using a price-probability locus; a change in market conditions is some combination of changes in the level and/or slope of this locus. I show how the effect of either type of change on price and on the probability-of-sale can be decomposed into those commonly associated with an increase in the value and those which involve a substitution between price and probability. Two adding-up conditions restrict the set of possible predictions. Though the discussion focusses on real estate market, where scarcity is rationed by a mechanism which combines search and bargaining, the same ideas apply to markets with other types of selling mechanisms.     

型钢混凝土梁组合结构在北海和居壹号工程中的应用

由于型钢混凝土结构承载能力高、刚度大、抗震性能好,因此已越来越多地应用于大跨度结构和抗震要求较高的建筑及超高层建筑。文章重点介绍了型钢混凝土梁在北海和居壹号工程中的应用,从型钢制作、型钢吊装、拼接组装、型钢外包混凝土浇灌、施工等方面阐述了型钢混凝土梁施工过程中的质量控制要点,以保证型钢混凝土梁的施工质量。     

基于北部湾经济区物流环节协同的桂北物流体系构建研究

北部湾经济区发展的首要定位是建成我国西南地区的物流中心,物流是北部湾经济区的首要发展产业。作为广西的桂北地区,北部湾经济区如何抓住历史机遇,充分发挥自己的优势,融入经济快速发展的潮流中,是一个非常值得研究的课题。文章从物流环节的角度,提出了桂北物流企业与北部湾经济区物流企业协同发展的3种模式,分析了构建协同模式的途径,对桂北物流的发展具有一定的指导意义。     

关于施工招标工程造价最低限价的构想

长期以来,施工企业低价中标、高价结算的现象屡屡上演,屡禁不绝。为保护施工企业与业主双方的合法利益,文章提出了施工招标工程造价最低限价的构想,阐述了施工招标工程造价最低限价的法律依据、制定与实施的配套措施,为净化市场竞争环境提供参考。     

Benefit of Employees and Motivation for Earnings Manipulation—— A Case Study of Employee Shares

The employee shares of Guilin Jiqi became tradable in stock exchanges from June 2000. The firm coincidently made up her profit disclosed in the semi-annual report. After ruling out other explanations, we find that the fraud of Guilin Jiqi seems to be intended to help her employees （not including top managers） to reap profits at the expense of misled investors. Our findings offer a potential insight into relating employee shares to insider selling.     

企业追求内部协同向外部协同转变的动因分析

本文从界定协同内涵出发,把协同分为内部协同与外部协同两种,并对两者的区别、内涵、外在表现形式及其转变现象等进行了简要的说明,然后就企业由追求内部协同向外部协同转变的动因进行了分析,主要包括经营环境的复杂性和动荡性、政府政策管制的放松、消费者需求的多样化与个性化以及企业的异质性等因素。     

社会资本发展对企业财务的影响分析

社会资本理论于80年代晚期才引起理论界的广泛关注,此后又引入企业社会资本概念。社会资本的积累直接关系到企业的生存与发展,本文将社会资本理论应用于财务领域,从收益和风险两方面探讨了企业投资于社会资本应考虑的问题,为企业有目的地构建社会资本做初步分析。     

企业并购会计处理方法的研究

伴随着市场经济的发展成熟,市场竞争日益加剧和激烈,而作为市场主体的企业欲在激烈的市场竞争中生存和发展,一般通过内部扩充和外部扩张而运行,而并购则是企业外部扩张最迅速、最典型、最重要的方式。而全球经济一体化的加速发展,中国的企业并购也愈来愈频繁。本文拟对企业并购传统会计处理方法及其新理论作初步的探讨。     

关于卷制螺旋滚子结构尺寸的理论分析

卷制螺旋滚子是一种全新理念的滚子,可以有效地识别出螺旋滚子结构尺寸与变形能之间的相互关系,该滚子的周身遍布缝隙,其区别于普通滚子的一个最大特点就是可以吸收冲击能,既解决普通滚子在高速多冲作用下的早期断裂问题,又提高滚子的抗冲击性能。为此,文章主要针对有关于卷制螺旋滚子结构尺寸的理论,进行简单的分析和探讨。