Dynamics of the term structure of interest rates and monetary policy: is monetary policy effective during zero interest rate policy?

The monetary policy targets the short rates; however, during zero interest rate policy (ZIRP), the short end of the yield curve cannot serve as a policy instrument. Relying on the joint yields-macro latent factors model, this study empirically examines the effect of monetary policy stances on term structure and the possible feedback effect on the real sector using the Japanese experience of ZIRP. The analysis indicates that it is the entire term structure that transmits the policy shocks to the real economy rather than the yield spread only. The monetary policy signals pass through the yield curve level and slope factors to stimulate the economic activity. The curvature factor, besides reflecting the cyclical fluctuations of the economy, acts as a leading indicator for future inflation. In addition, policy influence tends to be low as the short end becomes segmented toward medium/long-term of the yield curve. Furthermore, volatility in bond markets is found to be asymmetrically affected by positive and negative shocks and long end tends to be less sensitive to stochastic shocks than the short maturities. The expectation hypothesis of the term structure does not hold during the ZIRP period.     

基于DEA模型的动漫产业竞争力分析

本文概述了产业竞争力的基本内涵以及波特的钻石模型,基于SWOT对杭州动漫产业竞争力进行了详细的定性分析,并运用DEA模型对动漫产业竞争力进行了相应的评价,从多个角度为杭州动漫产业竞争力的提升提出了对策建议。     

我国文化视野下的青少年自我同一性问卷编制

探索我国文化背景下的青少年自我同一性结构,运用访谈法、问卷法对1000多名包括中学生、大学生在内的青少年进行自我同一性结构的大样本研究,通过探索性因素分析和验证性因素分析,得出青少年学生自我同一性结构的八因素结构模型为最优模型。我国文化背景下的青少年自我同一性结构包括自我方向感、自我价值感等八个因素,问卷从自我同一性危机的程度揭示青少年自我同一性发展程度,为自我同一性这一抽象的概念提供了易于理解的新视角,是适于我国文化背景下的青少年自我同一性测量工具。     

The multicriteria selection of products in technological diversification strategies: an application to the Spanish automotive industry based on AHP

The economic recession, the dynamism and complexity of the markets and the generalised globalisation of the world economy have forced many companies to rethink and reorganise their industrial strategies. Through identifying and taking advantage of the key technologies of a company, this work presents a new and original methodology for dealing with a general technological diversification process. The methodology, which includes an innovative cognitive perspective and its corresponding decisional tool (decision support system) has been used to select the best product in a process of technological diversification that, along with the key technologies, identifies the sub-levels consonant to the sub-technologies and applications to sectors and products. The multicriteria selection tool employed in the proposed methodology, based on the analytic hierarchy process, allows the integration of multiple scenarios, actors and criteria, both tangible and intangible. The methodology has been applied to a case study in the Spanish automotive auxiliary sector.     

Family structure and the economic wellbeing of children in youth and adulthood

An extensive literature on the relationship between family structure and children’s outcomes consistently shows that living with a single parent is associated with negative outcomes. Few US studies, however, examine how a child’s family structure affects outcomes for the child once he/she reaches adulthood. We directly examine, using the Panel Study of Income Dynamics, whether family structure during childhood is related to the child’s economic wellbeing both during childhood as well as during adulthood. We find that living with a single parent is associated with the level of family resources available during childhood. This finding persists even when we remove time invariant factors within families. We also show that family structure is related to the child’s education, marital status, and adult family income. Once we control for the child’s demography and economic wellbeing in childhood, however, the associations into adulthood become trivial in size and statistically insignificant, suggesting that the relationship between family structure and children’s long-term, economic outcomes is due in large part to the relationship between family structure and economic wellbeing in childhood.     

Organizational closedown and the process of deconstruction and creativity

This paper outlines an analysis of how the deconstruction of organizational, management control and performance management structures affects performances and how workers make sense of enhanced efforts and practices of creativity, in a situation when facing a certainty of job loss as of the closedown of the organization. In this paper, we have shown that the deconstruction of structures generate positive performance outcomes, and that such relation is being mediated by workers identity. We have also shown that identity work under a process of organizational closedown generate certain creativity. By doing so, this paper contributes to the literature on creativity and deconstruction by developing an emergent model where workers identity mediates formal structures in relation to performance. This paper contributes to the literature on closedowns by extending its analytical and theoretical domains, proving alternative, yet complementary and mediating explanations to the causes of drivers to enhanced performances during the process of closedown.     

儒家“义—利”价值结构与西方“财富”价值结构比较研究简

通过中国儒家和西方经济价值结构的比较研究，发现儒家以“义一利”为价值结构模型，西方以“财富”为价值结构模型。儒家价值结构的基本特征是“义体利用”，表现方式是：强国的道义在于顺天时、尽地利、忠人和；安国的道义在于民朴民富；治国的道义在于蓄储俭用。西方价值结构的基本特征是“利体义用”，表现方式是：鼓励获取财富、财富规则和财富责任。儒家“义一利”价值结构与西方“财富”价值结构是两种不同的价值评判话语体系，在中国现代“义利共体”的价值结构建构中，儒家价值结构提供着人文精神基础，西方价值结构提供着物质文明建设可资借鉴的经验。     

Exponentially weighted moving average charts for correlated multivariate Poisson processes

In this article, we study exponentially weighted moving average (EWMA) control schemes to monitor the multivariate Poisson distribution with a general covariance structure, so that the practitioner can simultaneously monitor multiple correlated attribute processes more effectively. The statistical performance of the charts is assessed in terms of the run length properties and compared against other mainstream attribute control schemes. The application of the proposed methods to real-life and simulated datasets is demonstrated.     

The Nature of the Political Reconsidered

I present an immanent, and explanatory, critique of reflections on the nature of politics and of power within political science. I argue that these reflections are problematic, to the extent that they presuppose an actualist conception of the political, and that this is generated by an empiricist way of thinking on the one hand and a constructivist way of thinking on the other. I show how re‐defining politics, power, and the political on the basis of a dialectical critical realist ontology resolves these problems and, thereby, allows us to understand the conditions for social change and the relationship between the political and the economic. My argument has two, important implications: first, that the proposal that those who study politics professionally should celebrate philosophical diversity is dangerous–at least if it makes it difficult to sustain a distinct, emancipatory form of political inquiry; and, second, that the nature of social reality justifies the need both for specialized forms of inquiry, such as politics and economics, and integrative forms of inquiry, such as political economy.