Taxation, growth, and the spirit of capitalism

This paper uses a general two-sector model of endogenous growth to examine how the spirit of capitalism affects the relation between public finance and growth. The spirit of capitalism is defined as acquisitive personal objectives. We find that if the spirit of capitalism is present, an increase in the share of government spending in output reduces the long-run growth rate. The negative relationship between fiscal spending and growth is consistent with empirical evidence.     

What Can Be Learned from DuPont and the Freon Ban: A Case Study

Between 1974 and 1988, executives of DuPont, the world's largest producer of CFCs, were confronted with emerging evidence that CFCs were destroying the stratospheric ozone layer. The difficulty that executives face in such cases is that scientific knowledge develops over time and does not necessarily proceed in a straight line toward true conclusions. At the beginning of a new field of research, there is much uncertainty and disagreement among the experts. The solution of the ozone problem required a remarkable cooperation among science, business, and international governments. After looking at the role of DuPont executives in this drama, and the difficulties facing any executive dealing with uncertain science, the paper turns to an evaluation of the field of Business Ethics to see what light it might throw on this and analogous problems. Finally, the paper offers specific suggestions in terms of principles in dealing with uncertain science, and concludes that the course of action that DuPont followed, including some mistakes, can serve as a model for analogous crises.     

MMS系统的原理结构与应用浅析

多媒体短信息服务(MMS)是目前短信息技术开发最高标准的一种.它最大的特色就是支持多媒体功能.MMS可即时实现终端到终端、终端到互联网或互联网到终端的信息传输,允许传输数据、文本、图像、音频、视频消息.本文对MMS的原理结构作了较为详细的分析,列举了MMS的几个其型应用例子.     

Quantitative growth effects of subsidies in a search theoretic R&D model

Should government subsidize R&D and does it matter how these subsidies are allocated? We examine these questions in a dynamic model where R&D is described as sequential sampling from a distribution of new ideas. Successful discoveries affect future available resources and incentives for further R&D. Consequently, there may be under-investment in R&D. We study the effect of government interventions aimed at fostering growth through R&D. Calibrating the model with aggregate data from the Israeli business sector allows us to quantitatively compare two forms of support resembling those actually used to encourage R&D in the Israeli business sector: (i) an unrestricted subsidy that may be used at the recipients' discretion to finance R&D or other investments, (ii) a subsidy earmarked by the government for R&D activities only. While there is no theoretical way to determine which of the two subsidies will have a greater impact on search for new ideas and growth, we find that in the calibrated economy both subsidies have a significant but similar impact on the economy's output and TFP growth rates. Accordingly, in the case of the Israeli business sector, the incentives to conduct R&D were sufficiently strong, and no R&D-specific encouragement was needed. However, a sensitivity analysis reveals that for economies characterized by other parameter values this result may not be true. Correspondence to: B. Bental     

Perpetual youth and endogenous labor supply: A problem and a possible solution

In the “perpetual youth” overlapping-generations model of Blanchard and Yaari, if leisure is a “normal” good then some agents will have negative labor supply. We suggest a solution to this problem by using a modified version of Greenwood, Hercowitz and Huffman’s utility function. The modification incorporates real money balances, so that the model may be used to analyze monetary as well as fiscal policy. In a Walrasian version of the economy, we show that increased government debt and increased government spending raise the interest rate and lower output, while an open-market operation to increase the money supply lowers the interest rate and raises output.     

R＆D、R＆D溢出、内生增长和内生收敛

根据强调知识与技术创新、知识与技术溢出重要性的当代内生增长理论，本文建立了一个将R＆D和R＆D溢出与资本积累之间、R＆D和R＆D溢出与总产出增长之间直接关联起来的动态模型。面板数据协整检验实证分析结果表明R＆D和R＆D溢出与资本积累之间、R＆D和R＆D溢出与总产出增长之间分别存在显著的正面长期协整关联。进一步的分析表明，R＆D与资本积累之间、R＆D与总产出增长之间分别存在显著的长期双向格兰杰因果关系。由此观知，R＆D乃长期经济增长源泉之所在。另一方面，尽管资本积累或总产出增长并不格兰杰导致R＆D溢出，证据表明R＆D溢出格兰杰导致资本积累和总产出增长。这种由R＆D溢出到资本积累和总产出增长的单向格兰杰因果关系意味着尽管知识与技术的跨国传播并非必然发生。其实为世界经济增长的重要动力。     

民间资本供求与民营企业融资:对陕西的实证分析

本文建立在调研和有关资料基础上对陕西现实及潜在的民间资本供求进行测算分析,从总量和结构等方面实证了民间资本供给充足、而民营经济对民间资本的需求欲望非常强烈这一结论,要解除民间资本供求的市场失灵现象,就必须构建以"民资、民用、民管"为原则的内生性融资机制,建立社区民间金融管理组织和社区民间金融市场,选择内生性融资方式,创新其融资产品,实现民间资本供给与民营经济对其需求的有效对接.     

Spatial agglomeration and endogenous growth

This paper constructs a dynamic general equilibrium model with spatial interactions in which a human capital externality is the centripetal force towards agglomeration. The resource cost of transportation is, on the other hand, the main centrifugal force, preventing a city from growing unboundedly. A central feature of our analysis is the dynamic interaction between (perpetual) economic growth and (bounded) city growth. We examine the socially optimal and the decentralized growth rates as well as city sizes. In the decentralized environment, individuals under-invest, whereas cities are under-populated. We show how public policies may enable a decentralized city to attain the socially optimal allocation.     

Human Capital and Growth Cycles

This paper studies the dynamic interaction between human capital accumulation and economic growth. Capital market imperfections and an indivisibility in human capital investment prevent poor agents from accumulating skills, the acquisition of which positively affects technological progress. More productive technologies in turn require more sophisticated qualification and involve higher training costs. The equilibrium dynamics can be characterized by the joint evolution of productivity growth, the schooling costs, and the income distribution. Under our assumptions, individual incomes follow a non-linear Markov chain. This non-linearity generates endogenous fluctuations of schooling activities and the rate at which productivity improvements occur. We thank an anonymous referee for many helpful suggestions. Support from the German Research Foundation (DFG) under grant KA1519/2-2 is gratefully acknowledged.     

自动货仓控制模型的实现

本文简单介绍了建立一个自动货仓控制模型的过程。首先挺出模型的要求．然后进行硬件的配置．并给出模型的工作方式，最后划分四个功能模块来实现该模型．这四个功能模块分别为：数据库模块、通信模块、执行模块、打印模块。