Monetary policy shocks and exchange rates in Asian countries

In this paper, we empirically investigate the effects of monetary policy shocks on exchange rates in Asian countries. To do so, we use VAR models which impose sign restrictions on impulse responses to identify monetary policy shocks. We find that contractionary monetary policy shocks lead to significant exchange rate appreciation in Malaysia, the People’s Republic of China, and the Republic of Korea. However, in India, Indonesia, the Philippines and Thailand, we find either a significant depreciation or no significant effect. These results suggest that an interest rate increase (or decrease) may not necessarily shield Asian countries from exchange rate depreciation (or appreciation) pressure following a U.S. interest rate increase (or decrease).     

紫铜脉冲整形器的设计研究

利用ANSYS/LS-DYNA程序,采用Lagrange方法,对紫铜脉冲整形器的设计进行研究,结果表明:只要合理的控制脉冲整形器直径,撞击杆的撞击速率,就可以使反射脉冲平台处应变等于入射脉冲上升段的第一拐点处应变,此时混凝土就会以近恒应变率发生形变;对于同一尺寸的混凝土试件,混凝土试件能够达到近恒应变率值与紫铜脉冲整形器的直径之间呈线性增长关系。     

The implementation of monetary policy in New Zealand: What factors affect the 90-day bank bill rate?

This paper discusses the implementation of monetary policy in New Zealand and its flow-on effects on the 90-day bank bill rate over the 1999–2005 period. The effects of external factors are considered as well. Our findings indicate that the maturity spectrum ratio exerted a positive effect on the 90-day bank bill rate while the allotment ratio did not. This interest rate had a tendency to revert to the level set by its Australian counterpart, though at a relatively slow speed. No such link exists between the NZ 90-day rate and the U.S. 90-day rate. Neither the maturity spectrum nor the allotment ratio contributed to the volatility of the most important short-term interest rate in New Zealand.     

MONETARY TRANSMISSION MECHANISM IN CENTRAL AND EASTERN EUROPE: SURVEYING THE SURVEYABLE

Abstract.  This paper surveys recent advances in empirical studies of the monetary transmission mechanism, with special attention to Central and Eastern Europe (CEE). Our results indicate that the strength of the exchange rate pass-through substantially declined over time mainly due to a fall in inflation rates and to some extent due to the so-called composition effect. The asset price channel is weak and is likely to remain weak because of shallow stock and private bond markets and because of low stock and bond holdings of domestic households. House prices may become an exception with booming mortgage lending and with high owner occupancy ratios. While the credit channel could be a powerful channel of monetary transmission – as new funds raised on capital markets are close to zero in CEE – it is actually not, as both commercial banks and non-financial corporations can escape domestic monetary conditions by borrowing from their foreign mother companies. The moderately good news, however, is that those banks and firms are influenced by monetary policy in the euro area because their parent institutions are themselves subjected to the credit channel in the euro area.     

发展中国家粮食安全与贫困——基于“交换权利映射”的分析

发展中国家贫困的特征表现为生产力和人均收入水平低,这两点导致了发展中国家个人的粮食获取能力受到制约。市场交易、自行生产和粮食援助是个体获取粮食的三种渠道。贫困通过对这些因素的影响最终导致了对粮食安全的威胁。"交换权利映射"通过个体拥有的资源与交换权利集合的映射关系说明了在发展中国家因为贫困而导致的个体拥有的资源匮乏而使其处在粮食不安全集合中。     

中国旅游产业对国民经济的贡献研究

文章采用旅游增加值剥离测算法估算2000～2008年中国大陆31个省级单位的旅游产业增加值,并测量旅游产业增加值对国民经济的贡献率和拉动幅度,旨在分析旅游产业在国民经济中的地位。结论有三:第一,我国旅游产业以高于国内生产总值的增长速度快速成长,波动较大且存在地区差异;第二,旅游产业的发展与国民经济的整体发展水平密切相关,在以旅游产业作为先导产业的省份中,旅游产业对国民经济的拉动作用较为显著;第三,我国大部分地区的旅游产业对GDP贡献率主要集中在3%～8%,而拉动系数则保持在0.5至1.5个百分点之间。     

浅谈有线数字电视系统的调试与维护

文章介绍了有线数字电视的基本特点、系统指标、应用以及有线数字电视传输系统的维护,阐明了有线数字电视系统常见故障处理方法。     

我国近期通货膨胀的影响因素与治理对策

自08年金融危机以来,我国通货膨胀的问题随着2009年经济呈现"v"型反转的出现也显现出来了,而且呈现愈加严重的情况.本文对当前我国的经济形势进行了分析,从而对形成我国通货膨胀的主要原因进行了研究总结,并提出了相应的治理对策.     

How does employee development affect turnover intention? Exploring alternative relationships

This study explores alternative relationships between perceived investment in employee development (PIED) and turnover intention by including affective commitment, perceived internal employability, and perceived external employability as potential mediators. Data were collected through a structured survey from 337 employees working in two large companies in Italy. The factorial validity and dimensionality of the latent constructs studied were evaluated in a confirmatory factor analysis framework, and the mediation hypotheses were tested in a full structural equation model. Results show that the overall effect of PIED on turnover intention is negative and almost fully mediated by external employability and affective commitment, whereas the path through internal employability is not supported. More specifically, PIED increases commitment, which in turn limits the likelihood of turnover. In addition, although perceived external employability is positively associated with turnover intention, PIED seems to reduce this effect by negatively affecting employee perceptions of their marketability in the labour market. The study supports the assumptions of social exchange theory in explaining turnover behaviour as a consequence of employee development support. Contextually, it questions the existence of the employability paradox because it does not reveal either a retention path via perceived internal employability or a turnover risk via perceived external employability.     

中国用工荒演变轨迹研究

文章对1979—2010年中国四大地区的劳动力就业数据,采用生物系统论研究方法,将地区劳动力视为复杂系统,对中国四大地区内外劳动力格局演变进行估计,从而深入讨论用工荒根源及演变轨迹。结果发现:劳动力就业自然增长率与人口自然增长率间有内在规律——23定律,这一定律是中国用工荒到来的根源,它决定中国东部、东北、中部、西部将先后于2014、2020、2025、2027年进入用工荒;东部用工荒是紧随劳动力自然就业繁荣期之后,而东北、中部和西部则是劳动力自然繁荣期后经历较长的潜伏期才进入用工荒。