The constitutional future of the European Union

The formal distinction between a treaty and a constitution is much less important than the question of who is authorized to interpret and amend it. The judges of the European Court of Justice interpret the Treaty by simple majority, while unanimity of the member-states would be required to reverse these decisions. The European Union needs a Court whose judges are empanelled from, and selected by, the highest courts of the member-states. The Treaty on European Union violates three fundamental constitutional principles: (i) the principle of the separation of powers, (ii) the democratic principle, and (iii) the principle of subsidiarity.     

双重孔隙介质中水平井两相渗流

本文研究了双重孔隙介质中水平井两相渗流问题,在流线不变的假定下,给出了水驱油二维渗流含水饱和度分布和见水时间公式。由于亲水岩块的吸渗作用,裂缝系统中含水饱和度沿特征线按指数规律下降,从而双重孔隙介质的见水时间较均质介质的较晚,采油量较多。     

黄河口潮流数值模拟

应用二维非恒定流方程和破开算子法，数值模拟了黄河口附近海域潮流运动规律，并对动边界和潮位边界的处理作了探讨，实测资料验证表明，本文建立的数学模型能较好模拟黄河口附近的潮流场和潮位场。     

不同雷诺数下水平桩柱的水动力待征

本文介绍了均匀振荡流中光滑水平桩柱上水动力特征的试验研究.试验中,雷诺数Re=20000～260000(该区域为亚临界区与临界区),Kc=5～40.分析中,利用最小二乘法来确定Morison方程中的速度力系数C_(?)及惯性力系数C_M;还利用最大值法及均方根值法对合力系数C_F与升力系数C_L进行分析,所有的正向力与升力系数都作为Re及Kc数的函数给出,并且各系数相对于其平均值的均方差值也在图中示出.其主要研究成果如下:当Re≥80000时,所有的水动力系数(包括C_D、C_M,C_F与C_L),几乎与雷诺数Re无关,且各系数均随Kc数的逐渐增加而趋向于不同的常数;当Re<80000时,速度力系数C_D随Re数的增大而减小,而惯性力系数C_M随Re数的增大而增大.     

三峡工程资金流三个阶段的特点与管理

本文论述了三峡工程资金流的三个阶段，即借款期，还款期和结余期的特点与管理。     

In or out? explaining state shares of the tobacco Master Settlement Agreement

In 1998, 46 states were involved in a Master Settlement Agreement (MSA) with the tobacco industry. The other four states settled on their own. Our goal is to answer a counter factual question: how would these four states have fared had they been included in the MSA? We use data from Viscusi (2002 Viscusi WK (2002) Smoke‐Filled Rooms Chicago University of Chicago Press  [Google Scholar]) to explain settlement shares for states participating in the 1998 tobacco MSA, and to predict settlement shares for the four nonparticipating states. We find that two nonparticipating states (Minnesota and Mississippi) may have fared substantially worse had they been included in the MSA.     

企业现金流量表的比率分析

在市场经济条件下,企业的现金流量在很大程度上决定着企业的生存和发展能力。通过对现金流量的分析,人们可以清晰地了解企业的资金周转情况和短期经营风险,评价企业的财务结构和企业偿付债务的能力,判断企业适应外部环境变化对现金收支进行调节的余地及企业持续发展的可能趋势。     

Reasons To Be Ethical: Self-Interest and Ethical Business

This paper examines the self-interested reasons that businesses can have for ethical behaviour. It distinguishes between economic and non-economic reasons and, among the latter, notes those connected with the self-esteem of managers. It offers a detailed typology of prudential reasons for ethical behaviour, laying particular stress on those to do with avoiding punishment by society for wrongdoing and, more particularly still, stresses the role of campaigning pressure groups within that particular category of reasons. It goes on to suggest that because of their occupation of the moral high ground, campaigning groups are well placed to damage the self-esteem of managers and that this is why those groups seem able to exert an influence that goes beyond their somewhat limited capacity to inflict economic damage upon businesses. The paper concludes with the suggestion that we may be witnessing a virtuous spiral whereby rising public expectations of morality in business lead to ever increasing moral commitments by business that then cause those expectations to rise still further.     

External Constraints on Monetary Policy and the Financial Accelerator

We develop a small open economy macroeconomic model where financial conditions influence aggregate behavior. Our goal is to explore the connection between the exchange rate regime and financial distress. We first show that a calibrated version of the model captures well the behavior of the Korean economy during its financial crisis period of 1997–98. In particular, the model accounts for the sharp increase in lending rates and the large drop in output, employment, investment, and measured productivity. The financial market frictions play an important role, further, explaining roughly half the decline in overall economic activity. We then perform some counterfactual exercises to illustrate how the fixed exchange rate regime likely exacerbated the crisis by tying the hands of monetary policy.     

Private credit in 129 countries

We investigate cross-country determinants of private credit, using new data on legal creditor rights and private and public credit registries in 129 countries. Both creditor protection through the legal system and information-sharing institutions are associated with higher ratios of private credit to gross domestic product, but the former is relatively more important in the richer countries. An analysis of legal reforms shows that credit rises after improvements in creditor rights and in information sharing. Creditor rights are remarkably stable over time, contrary to the hypothesis that legal rules are converging. Finally, legal origins are an important determinant of both creditor rights and information-sharing institutions. The analysis suggests that public credit registries, which are primarily a feature of French civil law countries, benefit private credit markets in developing countries.