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21.
In this paper, data envelopment analysis (DEA) techniques are applied to the French nursing home industry in order to address two policy issues. The first involves nursing home size and returns to scale, while the second deals with the potential effects of a change in nursing home reimbursement from a flat rate to one based on the severity of case-mix. To accomplish this, our analysis expands on the existing nursing home literature to analyze technical and allocative efficiency along with budget-constrained models rather than the more common direct input-based distance function. Technical efficiency is evaluated via an indirect output distance function while allocative output efficiency is computed with a cost indirect revenue function. The findings suggest that system-wide efficiency and equity may result from coming reforms since payments would more accurately reflect resource use. 相似文献
22.
Gottfried Haber Reinhard Neck Warwick J. McKibbin 《International Advances in Economic Research》2006,12(1):1-15
In this paper, we analyze the reactions of European economies to a fiscal policy strategy aiming at diminishing the public sector. Within the framework of the MSG3 model, a macroeconomic model of the world economy, we perform several simulation experiments to explore the effects of reducing government expenditures permanently in different phases of the business cycle. For this purpose, we combine the fiscal contraction with negative and positive, Euro Area-wide and global, supply and demand shocks. It turns out that adverse Keynesian effects on output and employment tend to be mostly weak and short-lived, whereas long-run effects on output and employment are favorable. Due to these long-run effects, the fiscal contraction policy raises welfare as measured by an asymmetric quadratic objective function. The size of these welfare effects depends on the initial situation in a non-trivial manner. 相似文献
23.
We document the substantial process of structural transformationR12;the reallocation of labor between agriculture, manufacturing,
and servicesR12;and aggregate productivity growth undergone by Portugal between 1956 and 1995. We assess the quantitative role
of sectoral labor productivity in accounting for these processes. We calibrate a model of the structural transformation to
data for the United States and use the model to gain insight into the factors driving the structural transformation and aggregate
productivity growth in Portugal. The model implies that Portugal features low and roughly constant relative productivity in
agriculture and services (around 22%) and a modest but growing relative productivity in manufacturing (from 44 to 110%). We
find that productivity growth in manufacturing accounts for most of the reduction of the aggregate productivity gap with the
United States and that a further closing of this gap can only be accomplished via improvements in the relative productivity
of services.
This paper was written while the authors were affiliated with the Federal Reserve Bank of Richmond. We would like to thank
the editor, two anonymous referees, and participants at the Third Conference on Portuguese Economic Development in the European
Context organized by the Bank of Portugal for their comments. All errors are our own. 相似文献
24.
Oded Stark 《Journal of Evolutionary Economics》2004,14(1):37-42
We offer a game-theoretic proof of Hamilton1xpg6xbd1m9h4fqx/xxlarge8217.gif" alt="rsquo" align="BASELINE" BORDER="0">s rule for the spread of altruism. For a simple case of siblings, we show that the rule can be derived as the outcome of a one-shot prisoner1xpg6xbd1m9h4fqx/xxlarge8217.gif" alt="rsquo" align="BASELINE" BORDER="0">s dilemma game between siblings.JEL Classification:
A13, C70, D64Correspondence to: Oded Stark, ZEF, University of Bonn, Walter-Flex-Strasse 3, 53113 Bonn, GermanyWe are indebted to an anonymous referee and to Uwe Cantner for helpful comments and suggestions. Partial financial support from the National Institute on Aging (grant RO1-AG13037) and from the Humboldt Foundation is gratefully acknowledged. 相似文献
25.
Foreign direct investment, competition and industrial development in the host country 总被引:8,自引:0,他引:8
This paper analyses the impact of foreign direct investment (FDI) on the development of local firms. We focus on two likely effects of FDI: A competition effect which deters entry of domestic firms and positive market externalities which foster the development of local industry. Using a simple theoretical model to illustrate how these forces work we show that the number of domestic firms follows a u-shaped curve, where the competition effect first dominates but is gradually outweighed by positive externalities. Evidence for Ireland tends to support this result. Specifically, applying semi-parametric regression techniques on plant level panel data for the manufacturing sector we find that while the competition effect may have initially deterred local firms’ entry, this initial effect has been outpaced by positive externalities making the overall impact of FDI largely positive for the domestic industry. 相似文献
26.
O. J. Boxma 《Statistica Neerlandica》1984,38(3):199-208
We consider the M/M/1-queue and derive an explicit expression for the joint distribution of the number of arrivals and the number of departures in [0, t), given the number of customers initially present. The derivation is almost purely combinatorial, it avoids the use of generating functions, and immediately yields a simple probabilistic interpretation of the result. 相似文献
27.
This paper shows how the interaction between decentralized information gathering and discreteness of investment decisions at the individual level can generate random fluctuations in aggregate investment that involve occasionally large allocation errors. This interaction is illustrated in a model in which private information is costly to acquire and prices reveal information. The unique rational expectations equilibrium outcome of the model is shown to always be noisy and characterized by investment levels which may be high simply because uninformed investors are buying under the impression that the high price is a signal of good investment opportunities. 相似文献
28.
Christophe Chamley 《European Economic Review》2004,48(3):477-501
The general model of social learning with irreversible investment and endogenous timing is analyzed for any distribution of private informations. Strategic complementarities and multiple equilibria appear which are generated solely by information externalities. Different equilibria generate strikingly different amounts of information. The impacts of various assumptions (bounded beliefs, large number of agents, discrete time and short periods) are examined carefully. The properties are robust to the introduction of observation noise with a continuum of agents. 相似文献
29.
Harold M. Hochman 《Constitutional Political Economy》1996,7(1):3-20
This essay examines, from the perspective of both economics and ethics, the logical foundations of income transfers in a democratic society that allocates resources, in the large, through free markets. Such transfers, enacted through the public choice process, modify the market-determined distribution of income, as a reflection of the distributional preferences of the members of a society. Both constitutional and post-constitutional explanations of redistributions are considered. A discussion of recent experimental evidence of distributional preferences leads into a critique of simple equality, built on Michael Walzer's distinction between monopoly and dominance, as a criterion of distributive justice. 相似文献
30.
In this paper we propose a sequential strategy, based on the microeconomic approach of the demand theory, in order to test for separability between private and public consumption. The aim of the present work is to verify, using a conditional almost ideal demand system, whether the different components of public consumption exert conditioning effects on the allocative structure of private spending. The empirical estimation of the model and the separability tests are developed for both a demand system in five functional categories of private spending, and for a demand system in six categories, where the private expenditures on those goods and services which can also be offered by the public sector are enclosed in a single functional category. The results of the separability tests, obtained using UK data for the 1974–2000 period, show that public individual consumption plays an important role in modifying consumer choices, while public collective consumption does not affect private consumption behaviours. The relationships between the different components of private spending and public individual consumption are both of substitutability and complementarity; in particular, we find that public individual consumption and the corresponding private expenditures on ‘Health, education, recreation and social protection’ are complements. 相似文献