排序方式: 共有16条查询结果,搜索用时 15 毫秒
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D. T. NGUYEN 《The Economic record》1993,69(3):285-294
This paper derives a precise necessary and sufficient condition for devaluation to eventually improve the balance of payments in domestic currency, using assumptions more appropriate for a small open economy than those of Marshall-Lerner. It will be shown that, following devaluation, the balance of payments deteriorates over a short period before it gradually improves– the so-called J-curve effect The duration of this short period will be shown to depend on the magnitude of trade elasticities, lag-coefficients, unhedged foreign debt denominated in foreign currency, interest rate and current account deficit 相似文献
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This paper examines how the ECB's expansionary monetary policy affects income inequality in 10 euro area countries over the period 1999–2014. We distinguish two channels—labor-market and financial—through which monetary policy can have distributional effects. The labor-market channel is captured by wages and employment and the financial channel by asset prices and returns. We find that expansionary monetary policy in the euro area reduces income inequality, especially in the periphery countries. The labor-market channel enhances the equalizing effect: monetary expansion reduces income inequality stronger by raising wages and employment. There is limited evidence for the financial channel. 相似文献
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This paper proposes a trade restrictiveness indicator that explicitly incorporates environmental externalities. The index employs directional distance functions and uses indicators (i.e., differences rather than ratios) modified to account for and evaluate efficiency changes in the face of simultaneous and multidimensional trade and environmental policy reforms. The index is made up of two components, one for production and one for consumption. Our overall trade restrictiveness indicator is accordingly the difference of the two. The properties of the indicator are developed and discussed together with its estimation. 相似文献
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This study analyzes the relationship between high school students’ scores on a test of personal financial literacy and their state's personal finance curriculum mandate. At the time of the testing, twenty of the thirty‐one states included in the study had some kind of educational policy in the area of personal financial management. The results of the study show that curriculum mandates, broadly defined, are not generally associated with higher students’ scores. However, students in states that required specific financial education course work scored significantly higher than those in states with either a general mandate or with no mandate. 相似文献
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This paper tests the collective model against the unitary model by estimating the labor supply of both the husband and wife. Using data from a developing country, China, we reject the hypothesis that distribution factors have no effect on household time allocation decisions. On the other hand, we cannot reject restrictions implied by the collective model. Thus the unitary model is not supported while the collective model gains credence in this study. Our findings suggest that the traditional patriarchalism in Chinese families is giving ways to power sharing between spouses. 相似文献
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This paper analyzes the amakudari practice in Japan. Amakudari refers to a process in which government agencies contact the private firms that they regulate, asking them to provide employment for their retiring elite bureaucrats. Upon employment at the private firms, bureaucrats may collude with their former colleagues in the ministries they worked for to secure lucrative government contracts, avoid regulatory inspections, or obtain preferential treatment for their new employers. This paper provides an explicit formalization of the implicit collusion between the regulator and the regulated. 相似文献
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Using the complete history of regular quarterly and annual filings by U.S. corporations, we show that changes to the language and construction of financial reports have strong implications for firms’ future returns and operations. A portfolio that shorts “changers” and buys “nonchangers” earns up to 188 basis points per month in alpha (over 22% per year) in the future. Moreover, changes to 10-Ks predict future earnings, profitability, future news announcements, and even future firm-level bankruptcies. Unlike typical underreaction patterns, we find no announcement effect, suggesting that investors are inattentive to these simple changes across the universe of public firms. 相似文献
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以佛家与精神分析解剖自我,在人生的自我心灵旅程中具有非常深奥的意义。面对人生各种挫折苦难,心灵安乐是维系生命力的源泉。佛教的主要目的是寻求人生的自我面目,而精神分析是对精神疾病的一种治疗的方法;佛教对人生则是一条拯救精神之路。另一方面提出自我问题的焦点落在自觉与无意识的相互关系。即致力于使自我转变成为超我。 相似文献