网上银行的相关法律问题刍议

随着网上银行业务的发展,出现了很多急需解决的现实法律问题,而现行的法律规定或者是处于空白状态,或者因为立法的原因存在一定的局限性.文章重点探讨了网上银行开展业务活动中的电子合同与电子票据的相关法律问题,并提出了解决的办法.     

Knowledge at work: Some neoliberal anachronisms

With a predilection for market solutions, neoliberalism upholds that the individual is generally the best judge of his or her interests. Yet markets are never universally applied as a mechanism of allocation and there are reasons, in principle, why capitalism will always have “missing markets.” Concentrating on the application and appropriateness of neoliberal theory to the workplace, this article argues that firms are not markets, despite some tendencies in modern theory to conflate the two. The employment contract is a key characteristic of modern firms, but neoliberal theory is often silent on the distinction between an employment contract and a contract for services, and largely ignores the asymmetrical rights of authority within contracts of employment. Furthermore, the social nature of knowledge represents a challenge to neoliberal theory and policy, because it sometimes makes it more difficult to define individual property rights. Accordingly, with the growth of the knowledge economy, neoliberalism to some extent is an anachronism.     

Debt contracts with ex-ante and ex-post asymmetric information: an example

Summary. We consider a simple model of lending and borrowing combining two informational problems: adverse selection and costly state verification. Our analysis highlights the interaction between these two informational problems. We notably show that the higher the monitoring cost, the less discriminating the optimal menu of contracts is.Received: 24 September 2004, Revised: 5 April 2005, JEL Classification Numbers: C7, D8, G3.L. Renou: Correspondence toWe thank Anne Villamil for insightful comments.     

Two Closed-Form Formulas for the Futures Price in the Presence of a Quality Option

The paper derives closed-form formulas for the futures pricein the presence of a multi-asset quality option. This is donefor two cases: In the first one the underlying assets are zerocoupon bonds with different maturities in the single-factorVasicek model. In the second one these are commodities in amulti-factor setting, again with Vasicek interest rate uncertainty.     

Performance implications of distributor effectiveness, trust, and culture in import channels of distribution

Recent research has highlighted the need to examine international channels of distribution from the viewpoint of the industrial distributor, with a focus on how distributors may add value to their channel relationships. The present research responds to such calls and focuses on the value added in terms of the extent of channel functions undertaken by the distributor on behalf of export-manufacturers. Trust is also examined as a source of added value that may be particularly important for cross-cultural relationships. Trust is investigated for its mediating effects on otherwise detrimental effects of cultural value differences. We also examine the presence of explicit legal contracts used to govern channel relationships and find that the use of such contracts may also hinder distributor perceptions of performance.     

Books Reviewed

Books reviewed:
Julian M. Alston, Philip G. Pardey and Vincent H. Smith, (eds.) Paying for Agricultural Productivity
P.K. Rao, The Economics of Global Climatic Change
Bernard Salanie, The Economics of Contracts: A Primer
Raisuddin Ahmed, Steven Haggblade and Tawfiq-e-Elahi Chowdhury, (eds.) Out of the Shadow of Famine: Evolving Food Markets and Food Policy in Bangladesh
Lyle P. Schertz and Otto C. Doering III, The Making of the 1996 Farm Act
Joseph A. Herriges and Catherine L. Kling, Valuing Recreation and the Environment
James R. Prescott, Paul Van Moeseke and Jati Sengupta, (eds.) Urban-Regional Economics, Social System Accounts, and EcoBehavioural Science, Selected Writings of Karl A. Fox
Brent M. Haddad, Rivers of Gold: Designing Markets to Allocate Water in California
J. M. Antle, J. N. Lekakis and G. P. Zenias, (eds.) Agriculture, Trade and the Environment: The Impact of Liberalization on Sustainable Development
J. Barkley Rosser Jr., From Catastrophe to Chaos: A General Theory of Economic Discontinuities: Mathematics, Microeconomics, Macroeconomics, and Finance     

Money and production, and liquidity trap

We prove the existence of monetary equilibrium in a finite horizon economy with production. We also show that if agents expect the monetary authority to significantly decrease the supply of bank money available for short-term loans in the future, then the economy will fall into a liquidity trap today.