Growth,Employment and Taxation with Distortions in the Goods and Labour Market

Abstract. This paper analyses taxation in the presence of distortions in goods and labour markets in an endogenous growth model. The government disposes of capital, labour and consumption taxes. It is shown that the market solution leads to suboptimally low levels of growth and employment. However, available tax instruments are sufficient to attain the first‐best growth path in this economy. The paper further explores the relative distortion of capital and labour taxes. For plausible parametrisations of the model, lowering capital taxes dominate reductions in labour taxes in welfare terms.     

Full-cost pricing in the classical competitive process: A model of convergence to long-run equilibrium

In the last 10–15 years a lot of attempts has been devoted to study the calssical process of convergence of market prices toward natural prices. The two forces that one has thought could achieve this target were capital mobility, that determines the dynamics of output, and demand-supply forces, that determine the dynamics of prices. In this article a model of classical competition is proposed in which a full-cost pricing mechanism is adopted in the rule of evolution of market prices. An asymptotical stability result of long-run equilibrium is proved for a two-commodity model with and without a final demand.     

电子商务企业物流模式的经济学研究

电子商务企业对传统的物流提出了挑战．成为物流发展的强劲动力。本文从经济学理论角度对电子商务企业物流模式的选择进行了探讨：从对总成本的节约出发建立了企业自营与外包物流决策的成本模型．并分析了在电子商务的影响下该模型中成本因素的变化。得出第三方物流将是电子商务企业的好选择。     

A corporate balance-sheet approach to currency crises

This paper presents a general equilibrium currency crisis model of the ‘third generation’, in which the possibility of currency crises is driven by the interplay between private firms’ credit-constraints and nominal price rigidities. Despite our emphasis on microfoundations, the model remains sufficiently simple that the policy analysis can be conducted graphically. The analysis hinges on four main features (i) ex post deviations from purchasing power parity; (ii) credit constraints a la Bernanke-Gertler; (iii) foreign currency borrowing by domestic firms; (iv) a competitive banking sector lending to firms and holding reserves and a monetary policy conducted either through open market operations or short-term lending facilities. We derive sufficient conditions for the existence of a sunspot equilibrium with currency crises. We show that an interest rate increase intended to support the currency in a crisis may not be effective, but that a relaxation of short-term lending facilities can make this policy effective by attenuating the rise in interest rates relevant to firms.     

Eurosystem monetary targeting: Lessons from U.S. data

Using a small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative performance of monetary targeting and inflation targeting. The results show monetary targeting to be quite inefficient, yielding both higher inflation and output variability. This is true even with a nonstochastic money demand formulation. Our results are also robust to using a P∗ model of inflation. Therefore, in these popular frameworks, there is no support for the prominent role given to money growth in the Eurosystem's monetary policy strategy.     

Employment changes, the structure of adjustment costs, and plant size

In this paper, we analyze the pattern of employment adjustment using a rich panel of Norwegian plants. The data suggest that the frequency of episodes of zero net employment changes is inversely related to plant size. We develop and estimate a simple “q” model of labor demand, allowing for the presence of fixed, linear and quadratic components of adjustment costs. The econometric evidence supports the existence of purely fixed components, unrelated to plant size. As a result, the range of inaction is wider for smaller plants. The quadratic component of costs is also always important. In most specifications fixed costs are higher for employment contractions. The quadratic component is higher during employment contractions compared to expansions for small plants, while this is not true for larger plants.     

Existence of a Pareto-optimal equilibrium in nearly-stationary overlapping-generations economies

Summary In overlapping-generations models of fiat money, the existence of a Pareto-optimal equilibrium — which defines an optimal quantity of money — is more general than well-known counter-examples suggest. Those examples, having no optimal equilibrium just because there are small variations in households' tastes and endowments across generations, are not typical. On the contrary: For an open-dense, full-measure subset of smooth stationary economies and an open-dense subset of continuous stationary economies, introducing small variations in tastes and endowments across generations preserves the existence of an optimal equilibrium. Put simply, optimal equilibria generically exist for nearly-stationary economies.I thank Scott Freeman, Katsuhiko Kawai, and two referees for proofreading this text; all lead to clarifications.     

应用电法新装置勘探二维与三维地电体

本文通过对新装置条件下位场特征的分析,应用边界单元法及解析法的计算结果,发现当二维或三维电性不均匀体与测量电极位于背景场同一等位面时,视电阻率异常反映最明显。从而提出了圆弧交会法确定二维或三维地电体中心理深的方法,并给出了若干计算实例。结果表明,此方法简便有效且精度较高。     

GSM/TD-SCDMA系统互操作研究

文章主要介绍GSM/TD-SCDMA系统互操作的原则和策略,分析与总结了GSM/TD-SCDMA网络共存的可行性,提出基于成熟GSM网络的TD-SCDMA网络部署建议,减少投资并快速实现3G商用服务的运营目标。     

建筑垃圾处理与循环经济

建筑垃圾对环境的影响以及对建筑垃圾的资源化利用已成为亟待研究和解决的问题。循环经济把经济活动组成一个“资源一产品一再生资源”的反馈式流程,从而最大限度地减少经济活动对生态环境的影响。通过对建筑垃圾分类、组成和我国目前在处理方法上存在问题的分析,提出应用循环经济的“3R原则”资源化处理建筑垃圾的对策。