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1.
Beniamina Buzzo Margari Fabrizio Erbetta Carmelo Petraglia Massimiliano Piacenza 《Journal of Regulatory Economics》2007,32(2):131-151
This paper assesses the impact of regulatory and environmental factors and statistical noise on the efficiency of public transit
systems within a DEA-based framework. Using a panel of Italian companies, we implement a DEA-SFA mixed approach based on [H.O.
Fried et al. (2002) Journal of Productivity Analysis, 17(1–2), 157–174] to decompose DEA inefficiency measures into three components: exogenous effects, managerial inefficiency and
stochastic events. Besides providing evidence on the determinants of input-specific efficiency differentials across companies,
the results point out that managerial skills play a minor role, and emphasize the relevance of regulatory policies aimed at
replacing cost-plus subsidization with high-powered incentive contracts as well as improving environmental conditions of public
transit networks.
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This paper presents a brief literature review of previous studies methodologies,models,and contexts in studying firms’upgrading in Global Value Chains(GVCs).The... 相似文献
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Guido Candela Massimiliano Castellani Roberto Dieci 《International Review of Economics》2008,55(3):285-311
In this paper we study a particular case of “multiple” externalities associated to the production of a good/activity, whose
external effects can change from positive to negative depending on the level of output (intersecting externalities). To analyze their impact on the public policy we propose a very simple two-agent partial equilibrium model in the technological
context of externalities. In a static framework, the centralized solution always implies an optimal policy, which may consist
of taxation or subsidization depending on the individual optimum and on the technology parameters. In a dynamic model with
local knowledge of the efficiency function and instantaneous output adjustments, such an optimal policy can be structurally
stable or unstable. In the latter case, under small changes of the parameters the policy may switch from low taxation/subsidization
to high taxation/subsidization or vice versa, or even jump discontinuously from taxation to subsidization or vice versa. Furthermore, the decentralized solution based upon “tradable rights” can be economically equivalent to the centralized solution
in the form of taxation policy but the two solutions may be not politically equivalent.
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Roberto DieciEmail: |
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Guerino Ardizzi Carmelo Petraglia Massimiliano Piacenza Gilberto Turati 《Review of Income and Wealth》2014,60(4):747-772
We contribute to the debate on how to assess the size of the underground (or shadow) economy by proposing a reinterpretation of the traditional Currency Demand Approach (CDA) à la Tanzi. In particular, we introduce three main innovations. First, we take a direct measure of the value of cash transactions—the flow of cash withdrawn from bank accounts relative to total non‐cash payments—as the dependent variable in the money demand equation. This allows us to avoid unrealistic assumptions on the velocity of money and the absence of any irregular transaction in a given year, overcoming two severe critiques to the traditional CDA. Second, in place of the tax burden level, usually intended as the main motivation for non‐compliance, we include among the covariates two direct indicators of detected tax evasion. Finally, we control also for the role of illegal production considering crimes like drug dealing and prostitution, which—jointly with the shadow economy—contributes to the larger aggregate of the non‐observed economy and represents a significant component of total cash payments. We propose then an application of this “modified CDA” to a panel of 91 Italian provinces for the years 2005–08. 相似文献
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A common finding in the empirical literature on the validity of purchasing power parity (PPP) is that it holds when tested for in panel data, but not in univariate (i.e. country-specific) analysis. The usual explanation for this mismatch is that panel tests for unit roots are more powerful than their univariate counterparts. In this paper we suggest an alternative explanation. Existing panel methods assume that cross-unit cointegrating relationships, that would tie the units of the panel together, are not present. Using simulations, we show that if this important underlying assumption of panel unit root tests is violated, the empirical size of the tests is substantially higher than the nominal level, and the null hypothesis of a unit root is rejected too often even when it is true. More generally, this finding warns against the automatic use of panel methods for testing for unit roots in macroeconomic time series.First version received: November 2001/Final version received : October 2003 相似文献
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We study the properties associated to various definitions of ambiguity [L.G. Epstein, J. Zhang, Subjective probabilities on subjectively unambiguous events, Econometrica 69 (2001) 265-306; P. Ghirardato et al., Differentiating ambiguity and ambiguity attitude, J. Econ. Theory 118 (2004) 133-173; K. Nehring, Capacities and probabilistic beliefs: a precarious coexistence, Math. Soc. Sci. 38 (1999) 197-213; J. Zhang, Subjective, ambiguity, expected utility and Choquet expected utility, Econ. Theory 20 (2002) 159-181] in the context of Maximin Expected Utility (MEU). We show that each definition of unambiguous events produces certain restrictions on the set of priors, and completely characterize each definition in terms of the properties it imposes on the MEU functional. We apply our results to two open problems. First, in the context of MEU, we show the existence of a fundamental incompatibility between the axiom of “Small unambiguous event continuity” (Epstein and Zhang, 2001) and the notions of unambiguous event due to Zhang (2002) and Epstein and Zhang (2001). Second, we show that, in the context of MEU, the classes of unambiguous events according to either Zhang (2002) or Epstein and Zhang (2001) are always λ-systems. Finally, we reconsider the various definitions in light of our findings, and identify some new objects (Z-filters and EZ-filters) corresponding to properties which, while neglected in the current literature, seem relevant to us. 相似文献
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This paper provides new empirical evidence on delinking and Environmental Kuznets Curves (EKC) for greenhouse gases and other air pollutant emissions in Italy. A panel dataset based on the Italian NAMEA (National Accounts Matrix including Environmental Accounts) for 1990–2001 is analysed. The highly disaggregated dataset (29 production branches, 12 years and nine air emissions) provides a large heterogeneity and can help to overcome the shortcomings of the usual approach to EKC based on cross-country data. Both value added and capital stock per employee are used as alternative drivers for analysing sectoral NAMEA emissions. Trade openness at the same sectoral level is also introduced among the covariates. We find mixed evidence supporting the EKC hypothesis. The analysis of NAMEA-based data shows that some of the pollutants such as two greenhouse gases (CO2 and CH4) and CO, produce inverted U-shaped curves with coherent within-range turning points. Other pollutants (SOX, NOX, PM10) show a monotonic or even N-shaped relationship. Macro sectoral disaggregated analysis highlights that the aggregated outcome should hide some heterogeneity across different groups of production branches (industry, manufacturing only and services). Services tend to present an inverted N-shape in most cases. Manufacturing industry shows a mix of inverted U and N-shapes, depending on the emission considered. The same is true for industry (all industries, not only manufacturing): although a turning point has been experienced, N-shapes may lead to increased emissions with respect to very high levels of the economic driver. In general, EKC evidence is more pronounced for greenhouse gases. The results suggest that analysis at macro sector (whole industry, manufacturing only and services) can be the most promising approach to future research on EKC. 相似文献