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This paper describes how political and economic transition has affected the system of agricultural production in Khorezm, Uzbekistan in terms of economic practices and relationships. Based on recent fieldwork, the paper argues that the local agricultural economy is a hybrid economy, where production for market, quasi‐market and subsistence merge into and co‐constitute one another. In order to keep the system going, and to make up for the uncertainties in the formal context of production, the relation between new private fermer and the peasant (dehkan) households is of particular importance. This relation resembles neo‐patrimonial patron–client relations, which are both personal and informal while also being based on formal, contractual relations. The relations are asymmetric and based on the limited and unevenly distributed resources. The division of power is unequal but not fixed, due to the ongoing transition of the economic system. 相似文献
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LEONARDO GAMBACORTA BORIS HOFMANN GERT PEERSMAN 《Journal of Money, Credit and Banking》2014,46(4):615-642
This paper assesses the macroeconomic effects of unconventional monetary policies by estimating a panel vector autoregression (VAR) with monthly data from eight advanced economies over a sample spanning the period since the onset of the global financial crisis. It finds that an exogenous increase in central bank balance sheets at the zero lower bound leads to a temporary rise in economic activity and consumer prices. The estimated output effects turn out to be qualitatively similar to the ones found in the literature on the effects of conventional monetary policy, while the impact on the price level is weaker and less persistent. Individual country results suggest that there are no major differences in the macroeconomic effects of unconventional monetary policies across countries, despite the heterogeneity of the measures that were taken. 相似文献
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This research examined how consumers respond to product information that presents a range of possible performance levels. Hypotheses were tested by the use of mail and telephone surveys administered to a national sample of 511 homeowners. The particular product investigated was solar water heaters. The results indicate that the respondents (1) were less likely to change their prior beliefs toward the financial viability of solar water heaters, and (2) placed more emphasis on the importance of financial risk when they were presented with a range of possible financial consequences associated with solar systems. On balance, the provision of this information did not increase or decrease the average intention of the respondents to purchase solar water heaters. The public policy implications of the study findings are discussed. 相似文献
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