DOES THE LAUNCH OF THE EURO HINDER THE CURRENT ACCOUNT ADJUSTMENT OF THE EUROZONE?

This paper examines current account adjustments before and after the launch of the euro. Applying a dynamic panel model, we provide robust evidence to support that the adoption of the euro facilitates rather than hinders the adjustment of current accounts. This finding agrees with our results that the use of the euro assists real exchange rate and inflation rate adjustments. We also find that the independence of exchange rate regimes from current account, real exchange rate and inflation rate adjustments is observed when standard panel estimation methods are applied and when time‐varying smooth shifts in mean are not controlled. (JEL C33, F32, F41)     

THE LIFE OF THE DISABLED IN TANGSHAN

TANGSHAN, in northeastern Hebei Province, is noted for its coal, steel, iron,porcelain and the great earthquake that astonished the world. When the earthquake occurred in 1976, 240,000 people died and 160,000 people were injured. By now, the total     

THE SITES OF THE FOURTH WORLD CONFERENCE ON WOMEN

The Beijing International Convention Center will be the conference hall for government delegations of the Fourth World Conference on Women. The Beijing International Convention Center was built in 1990. With advanced facilities, Chinese and Western-style cuisine, and comfortable surroundings, it is an ideal venue for     

LOVE解密

他对你的爱出自真心吗?他的甜言蜜语可靠吗?你无法确定。 聪明的女孩懂得用心观察,从易被忽视的细节中窥视爱情的真相。也许他说的某句话、做的某件事中就包含着爱你或不爱你的“双面信号”,你要好好“侦察”,尽快识破他的“双面信号”哦！     

WHAT MAKES THE LOCAL? A BRIEF CONSIDERATION OF THE REJUVENATION OF HONG KONG IDENTITY

This paper ascertains what makes the local and why the local is important, in the context of change in Hong Kong due to the political transition to PRC sovereignty.In doing so, I hope to pose a modest polemical challenge to cultural studies' tendency to overlook seemingly simplistic empirical information. The return of Hong Kong to China in 1997 has led to a contraction of the political sphere, as the convergence of political structures curbed the development of local identities. The label or category ‘Hong Kong people’ was then appropriated with a specific meaning for the local to resist encroachment of the national. It was true that the high intensity of dominant national discourses during the political transition created a favourable atmosphere for re-nationalization. However, as soon as the political transition was over, Hong Kongers re-adhered to their own label in their struggle for cultural autonomy.Their strong cultural affect toward various national icons during the transition quickly diminished. This multiyear discourse study (1996–1998), which utilizes social scientific methods in conjunction with cultural theories, illustrates important political and methodological impulses necessary for the formulation of a socio-political approach to cultural studies within the Hong Kong context.     

Boutros Boutros-Ghali MESSAGE OF THE SECRETARY-GENERAL TO THE WOMEN OF CHINA ON INTERNATIONAL WOMEN'S DAY 1995

THIS year's International Women's Day has special significance, for it takes place during the fiftieth anniversary year of the United Nations. The purposes of International Women's Day: to celebrate past achievements, to highlight continuing problems, and to stimulate thought about the future, will this year be conducted in the context of a similar effort focused on the entire United Nations system. But the connection between International Women's Day 1995 and the Fiftieth Anniversary of the United Nations goes far deeper than similarity of purpose. There is increasing recognition that the problems     

CHINA:STORMING THE CITADEL OF POVERTY

Development is a catchword among farmers in Longshan County nowadays.     

THE LIFE AND LOVES OF WANG LUOBIN

WANG was born in 1913 in Beijing. When he studied at the Beijing Art School, he fell in love with Luo Shah, who was five years younger than he. Luo's grandfather was an official in charge of salt transportation at the end of the Qing Dynasty. Her father was a professional revolutionary. The sharp contradiction between her feudal family background and her progressive thoughts made her a radical youth. When Luo left Beijing for her hometown in Henan Province after the     

THE DIASPORA OF WEST AFRICA: THE INFLUENCE OF WEST AFRICAN CULTURES ON “JODY CALLS” IN THE UNITED STATES MILITARY

This research addresses the influences of West African cultures on a rarely studied area: marching cadences of the United States military. This article details the evolution of these military marching cadences tracing their form back to slave songs and to the music of precolonial West Africa. Six elements are identified that link these forms of music. These are: call and response, focus on the voice, percussion backbeat to create energy, functionality in nature, focus on the experiences of daily living, and oral history. These suggest a great influence of West African music on the United States military marching cadences.     

DID REGIONAL ECONOMIC DIVERSITY INFLUENCE THE EFFECTS OF THE GREAT RECESSION?

Using data for U.S. counties from 2005 to 2012, we test whether higher levels of economic diversity mediated the effects of the Great Recession via four measures of stability. Spatial spillover effects are modeled by the use of the spatial Durbin estimator with heteroscedastic errors. The data generally support the central hypothesis that higher levels of diversity within a county are associated with enhanced employment stability across all counties as well as subsets of metro and nonmetro counties. Results for wage stability, however, appear to contradict our other findings. We suggest that underlying labor elasticities can bridge these apparent contradictory results. (JEL R11, R12, O47)     

WHAT WAS THE MARKET VALUE OF DAIMLER DURING THE GERMAN HYPERINFLATION?

The claim of Bresciani‐Turroni that Daimler's equity capital reached the equivalent of only 327 of their cars during the German hyperinflation has spread widely through the hyperinflation literature. There are two critical errors in Bresciani‐Turroni's calculation, and the minimum market value of Daimler in November 1922 was far lower, at around 94 cars. (JEL E31, G12)     

THE END OF THE ART CONNOISSEUR? EXPERTS AND KNOWLEDGE PRODUCTION IN THE VISUAL ARTS IN THE DIGITAL AGE

In this digital age, declarations surface of the death of the expert and the democratization of information. Crowd wisdom is seen as the new guide in constructing and evaluating knowledge. In the context of the art world, this tension between the amateurs and the experts becomes particularly pronounced as popular meets high culture. Questions arise such as: what is the role of the expert in the evaluation of art in contemporary times? Do social media dismantle age-old hierarchies and established priesthoods in the art world? And can we assume that mass participation in valuation results in better judgments? This article addresses such popular notions of participation and expertise concerning social media in the art world through a historical lens by re-examining and positioning art experts from past to present. Particularly, characteristics of intermediaries in the art market are examined closely regarding their strategies in knowledge production and the establishment of expertise. This historical situatedness enables us to move beyond the hype of new media expectations, generating more appropriate avenues of investigation to better grasp possible changes amongst actors within the contemporary art world. This examination is not just theoretically relevant but practically so, given current pressures on art institutions to embrace and reach out to new audiences online.     

MARATHON LOVE AFFAIR

THE leading player in the 10,000meter race at the 1993 Seventh National Games held at the stadium of the Beijing Olympic Sports Center was not Zhong Huandi, the heroine of this article. Ousted by Wang Junxia, a girl ten years her junior, Zhong placed second, though she broke the world record.     

BOON OR BURDEN? THE EFFECT OF PRIVATE SECTOR DEBT ON THE RISK OF SOVEREIGN DEFAULT IN DEVELOPING COUNTRIES

We explore how the share of the private sector in total external debt affects perceived creditworthiness and the likelihood of sovereign default in developing countries. While there are theoretical arguments both in favor and against a stabilizing role of private‐sector borrowing, the evidence supports the notion that a greater share of the private sector in total external debt is associated with a reduced likelihood of sovereign default. (JEL F34, O16)     

"THE SITUATION OF CHINESE WOMEN" RELEASED

ON June 2, the Information Office of the State Council of the People's Republic of China published the white paper "The Situation of Chinese Women." The white paper, which comprises about 20,000 characters, contains a preface and eight chapters: I. Historic Liberation of Chinese Women; II. Equal legal Status; HI. Equal Rights     

WILL THE EUROPEAN COMMUNITY MAKE THE 1992 DEADLINE ON THE ABOLITION OF INTERNAL BORDER CONTROLS ?

The efforts by the 12 European countries to develop a single market are in jeopardy because of several factors including a failure to come to agreement on the Schengen Supplementary Agreement. If this agreement is not signed soon, the deadline of January 1, 1993 for the opening of the borders will pass. If this occurs, it will signify a failure of the 1st great test of European unity. The Schengen group includes the Benelux, FRG, and France, Italy (as of November 1991), and will probably include Spain and Portugal by June 1991. The primary reason for this trouble stems from the lack of parliamentary control during the negotiation process. Other problems stem from a failure to come to an agreement about the text of the agreement in regards to asylum seekers. The Agreement is not allowed to be modified by signatory States, they must either ratify it or not. There is a great deal of pressure to change this aspect of the Agreement, because it is felt by many that is abandons sovereignty about a crucial issue like frontier borders. Harmonizing rules of entry and granting of asylum are the 2 most powerful forces motivating people to fight against Community competency. Part of this problem is that the number of asylum seekers is growing rapidly and international rules of human rights are conflicting with the vested interests of the member states. Another source of discord was the Group of Coordinators's Palma Document which was approved by the European Council. In it, measures without consensus were called desirable, and those that could be approved were called essential. This way of doing things still created a democratic deficit and maintained the incoherent plan to lift internal borders. Decisive actions are required during the 2nd half of 1991 if the deadline is to be met because the rotating presidency goes to Portugal next. Portugal does not have the political power necessary to finalize the agreement. Denmark is then next after Portugal and is even less interested in coming to agreement than the UK. Therefore, if the agreement is to succeed it must be do so quickly or else suffer from political weakness.     

COMMUNITY COHESION,ASYLUM SEEKING AND THE QUESTION OF THE ‘STRANGER’

This paper addresses the changing governance of the social through the conjunction of international, national and local strategies where attempts to regulate migration and promote community safety meet. Migration has been increasingly subjected to processes of ‘securitization’ and ‘criminalization’ that encounter and align with new pressures in ‘domestic’ crime and safety policies. The paper offers a critical evaluation of the sociological grand narratives that frame these events, arguing instead for a more nuanced analysis of the instabilities and volatilities of governance strategies and practices – and the normative issues that they bring into view.     

解读 I LOVE YOU

I-Inject——投入L-Loyal——忠诚O-Observant——用心V-Valiant——勇敢E-Enjoyment——喜悦Y-Yes——愿意O-Obligation——责任U-Unison——和谐所以,爱就是投入、忠诚、用心、勇敢、喜悦、愿意、责任,还有和谐。I-Inject——投入投入,这个投入有很多概念,有对自己所爱的人投入自己所有的感