Hong Kong's growth synchronization with China and the US: A trend and cycle analysis

This paper investigates the synchronization of Hong Kong's economic growth with mainland China and the US. We identify trends of economic growth based on the permanent income hypothesis. Specifically, we first confirm whether real consumption in Hong Kong and mainland China satisfies the permanent income hypothesis, at least in a weak form. We then identify the permanent and transitory components of income of each economy using a simple state-space model. We use structural vector autoregression models to analyze how permanent and transitory shocks originating from mainland China and the US affect the Hong Kong economy, and how such influences evolve over time. Our main findings suggest that transitory shocks from the US remain a major driving force behind Hong Kong's business cycle fluctuations. On the other hand, permanent shocks from mainland China have a larger impact on Hong Kong's trend growth.     

Synchronization and diversity in business cycles: a network analysis of the European Union

In this article, we use a correlation matrix and its internal networks to analyse business cycle synchronization across Europe since 2000. This methodology allows us to summarize individual country interactions and co-movements while also capturing the existing heterogeneity of connectivity within the European economic system. Our results indicate that synchronization of the euro zone countries remained stable from 1999 until the current financial crisis, after which co-movements increased sharply and synchronization rose to the highest in the time sample. By endogenously identifying clusters of countries with close connections in their business cycle, we also refute the commonly accepted notion of identifiable core and peripheral euro zone countries.     

装载机装运机构改进设计

全液压蟹爪式装煤机的侧取耙装机构与刮板运输机串联工作,共用一套传动装置,但不能适应作业现场实际需要.为此,重新设计装运机构,将装载与运输机构设计为联动机构,让其既可各自独立运转,也可根据需要联合作业,同步工作.2套独立的动力装置能够保证2个机构可靠运转.     

New Product Introduction and Seasonality Effect in Food Products Retailing

ABSTRACT

This study aims to measure the effects of market demand and seasonality on new product introduction. Major factors contributing the variability of market demand and seasonality of new products have been discussed in reference to timing of introducing new products, variability of consumer preferences, retail sales, and product promotion. The study is based on 243 new products in selected self-service stores in Mexico, which belong to major food products sectors for the reference period 2002–2006. Results of the study reveal that market demand and seasonality factors are most important for the timing of new product introductions, as such conditions determine success of the new products in a given market.     

非自治混沌系统未知参数的识别

基于推广的微分方程不变原理,设计了一个简单的自适应反馈控制器,并证明了在这一控制器的作用下,可以识别出非自治混沌系统中的未知参数.这一识别方法简单便于工程实现,且具有鲁棒性.对于Duffing-Van der pol系统和Duffing系统的数值模拟验证了我们的结论.     

距离选通水下激光成像技术研究

水下激光成像在海洋目标的观测和识别方面具有重要的作用,相比传统的声纳的手段,激光成像在图像的直观性、分辨率和可视性方面具有显著的优势,文中介绍了距离选通技术的工作原理,并分析了水下激光成像设备关键器件的选择和国内外发展现状,对促进我国水下激光光电成像技术的发展具有重要的意义。     

钢索塔竖转施工受力体系平衡及同步控制技术

西安灞河2#桥为双索面拱形钢构单斜塔斜拉桥,索塔采用整体竖转技术。施工中受力体系平衡的控制是在动态过程中实现的,通过多点监控和适时调整,保证了受力体系的平衡和各部最佳受力状态。     

一种新的OFDM同步跟踪技术及其在VHF/UHF通信系统中的应用

本文主要研究了我国加工贸易领域信息化管理的系统组成和发展状况,通过深入分析加工贸易的业务流程、信息化管理特点、发展困惑等内容,提出了优化加工贸易信息化管理的相关举措。     

初相注入式快速符号同步的一种实现方法

通过平方滤波算法对时钟初相进行预估计,实现了Gardner算法下初相注入式符号同步.该方法具有快速、高精度的特点,尤其是较好地解决了初始点为过零点的极端情况下,Gardner算法收敛方向不确定、收敛时间较长的问题.计算机仿真和实际应用证实了该方法的有效性.     

A comparative analysis of stock market cycles

In this article, we date the ‘recession’ and ‘expansion’ phases of 46 stock markets around the world from December 1994 to September 2013. We use the Harding and Pagan methodology to identify peaks and troughs in these stock market indices. This approach enables us to establish periods of synchronization between the markets based on the timing of peaks and troughs and to measure this synchronization by means of the Harding and Pagan statistic. We find that several recent world crisis episodes and simultaneous recoveries can be identified with this method. We also present evidence demonstrating an increase in the pro-cyclicality of stock markets around the world.