Do Central Banks React to House Prices?

We estimate the Federal Reserve's, the Bank of England's, and the Bank of Japan's responses to house prices. We show that generalized method of moments estimates of a Taylor rule augmented with house prices are biased and dispersed. We then use full‐information methods and estimate the policy rule together with a VAR for the nonpolicy variables. These estimates are also biased. We propose an alternative approach and estimate a dynamic stochastic general equilibrium model embedded with a monetary rule with a direct response to house prices. We find that house prices played a separate role in the reaction functions of these central banks.     

Output Gap Estimation and Monetary Policy in China

Using the Bayesian multivariate Beveridge-Nelson decomposition method, this paper estimates China's output gap based on a multivariate dynamic model featuring distinct interactions among real output, inflation, money, and the exchange rate in China during the period 1980-2010. The authors compare the statistical nature and potential forecasting effects of the resulting multivariate gap measure on monetary policy with those of the output gap measures based on univariate models. The empirical results show that only the measure based on the multivariate system significantly predicts monetary policy, which indicates that the output gap estimated by the multivariate system contains more information than the traditional measures for macroeconomic policy adjustments do.     

实用校园网的建设

以建设中共河北省委党校校园网为例 ,介绍了一个校园网的完整实施方案。对校园网建设的实施目标和原则、校园网的功能需求作了详细分析 ,重点论述了校园网的拓扑结构、网络设备的选择 ,尤其是交换机和服务器的选择与安装、网络系统的配置 ,包括代理服务器与防火墙的安装与设置作了详细说明。最后介绍了通过微波通信方式接入Internet,该网的建成实现了校园网内的计算机快速的访问 Internet     

网络、资源与竞争优势:一个企业社会学视角下的观点

资源一直是企业获取竞争优势的主要战略因素。本文以“传统资源”为研究起点,刻画了企业行为的社会嵌入性特征,并通过引入“网络资源”这一概念揭示出一个更加全面、以企业网络及其关系资本为背景的资源分析框架,完善地拓展了传统的资源基础论观点。     

Interconnection in Network Industries

Recent deregulation of telecommunications in the U.S. and elsewhere has highlighted the importance of interconnection in network industries. In this paper, we analyse interconnection in a deregulated network where the participants compete in the final retail market. We consider both the case of a mature industry as well as one where a new entrant challenges the incumbent. In the later case, network externalities allow the incumbent to use the terms of interconnection to maintain its dominant position. Moreover, in either case, competition in the retail market can be undermined by collusion over access prices. We discuss the implications for some of the provisions of the new U.S. Telecommunications Act, specifically mandatory interconnection and reciprocity of tariffs, comparing these to the simple bill and keep rule.     

丰田与供应商的网络结构分析

近年来,企业间的合作关系成为众多学者研究的热点,而从网络这个全新的视角进行分析无疑具有重大的现实和理论意义。本文基于网络的视角,分析了丰田与其供应商之间的网络关系,以及由此带来的丰田的供应商在世界范围内的竞争优势的扩散,从而揭示企业网络对现代企业发展的重要意义。