What Survey Data Reveal about Price and Wage Rigidity in Portugal

This paper exploits the information collected from a survey conducted on a sample of Portuguese firms to study the patterns of firms’ price and wage adjustments and the extent of nominal price and wage rigidities. The evidence shows that the frequency of price changes varies substantially across sectors and depends on the intensity of competition, the share of labor costs and firms’ price reviewing behavior. The results also suggest that the constraint imposed by the presence of downward nominal wage rigidity is less important in firms where the fraction of permanent and high‐skilled workers is lower and the share of flexible pay components is higher.     

THE DEMAND FOR LIQUID ASSETS,CORPORATE SAVING,AND INTERNATIONAL CAPITAL FLOWS

The recent period of capital outflows from emerging economies has coincided with an increase in their corporate saving. In this paper, we model corporate saving as a demand for liquid assets by credit‐constrained firms in a dynamic open‐economy macroeconomic model. We find that the implications of this model are very different from standard models, because the demand for foreign bonds is a complement to domestic investment rather than a substitute. We show that this complementarity is at work when an emerging economy is on its convergence path or when it has a higher TFP growth rate. This framework is consistent with a number of stylized facts found in high‐growth, high‐investment emerging economies.     

THE FAILURE TO PREDICT THE GREAT RECESSION—A VIEW THROUGH THE ROLE OF CREDIT

Much has been written about why economists failed to predict the latest crisis. Reading the literature, it seems that this crisis was so obvious that economists must have been blind not to see it coming. We approach this failure by looking at one of the key variables in this analysis, the evolution of credit. We compare the conclusions reached in the recent literature with those that could have been drawn from an ex‐ante analysis. We show that the effect of credit on the business cycle cannot be exploited from a policymaker's point of view.     

立体标签自动贴标机结构设计

为了减少在产品包装环节中的人员参与,提高包装环节的自动化程度,研制了一种用于立体标签的自动贴标机。 根据产品贴标的流程,采用Pro/E软件进行三维建模和零部件的优化设计,包括传送机构、标签推进机构和折弯机构。 折弯机构中采用了折弯翻板实现对标签的折弯控制;自动贴标机各机构均采用了独立的电机控制,控制系统采用PLC 技术和变频器调速控制,设计了电动机正反转的控制电路图。通过对机械结构和电气控制系统优化设计,得到了满足设 计要求的自动贴标机机构设计参数,实现了对厚度为0.5 mm纸质标签纸的2次折弯并实现贴标过程。该自动标签机的 使用实现了包装过程的自动化,提高产品的包装效率。     

生态翻译视域下隐喻翻译研究——以《围城》英译本为例

隐喻作为一个非常巧妙的语言应用现象,非常值得研究。本文拟从生态翻译学对其进行研究。生态翻译学是一个从生态学角度研究翻译活动、翻译现象和翻译理论的新的研究范式。本文着重从适应/选择,三维转换和整体/关联的角度对《围城》这一文学巨著中典型的隐喻现象的翻译进行讨论,旨在开拓隐喻研究的新视角     

Measures of individual risk attitudes and portfolio choice: Evidence from pension participants

We use a large non-student sample to test how distinct measures of risk-attitudes relate to each other, to demographic characteristics and to real-life risk taking in the financial domain. These measures, namely the Bomb Risk Elicitation Task (BRET), self-reported willingness to take risks in general, the choice in a hypothetical lottery, the score in the Domain Specific Risk-Taking (DOSPERT) scale, appear to be positively correlated and exhibit a certain degree of consistency. Furthermore, a subset of these measures is driven by similar demographic characteristics as such that males are more risk seeking and risk-aversion increases with age. Using extensive data on the retirement portfolios of the participants during the years 2008–2014, we find that all of these measures are positively correlated with the riskiness of individual portfolios. The self-reported willingness to take risks in general appears to be the most relevant measure in predicting actual risk-taking behavior.     

厉鹗研究综述

厉鹗作为浙派宗师,从其诞生至今三百多年来,引起了学者的广泛研究兴趣.其研究历程可分为三个阶段:生前至1911年是活跃期;1912年至1979年是沉寂期;1980年以后是繁荣期.在这些时期取得了一批重要的初步研究成果,但总的来说,研究的深度与广度与他在清代诗史上的实际地位极不匹配,我们期待对厉鹗的研究更加广泛和深入.     

The debt trap: A two-compartment train wreck… and how to avoid it

We explore sustainable paths out of a debt trap with a highly stylized two-sector differential equations model for the stocks of money in Government and Society. The model fits the data for the U.S. between 1981 and 2012 with a coefficient of correlation of 0.996. The solutions provide detailed “escape conditions” from the debt trap. A primary surplus is required. Then a government can escape its debt trap either through sustained annual monetary outflows from society to the government (taxation) but with a low initial growth rate, or through annual monetary inflows into both sectors (stimulus) with higher initial growth rate. We illustrate the use of our model with simulations which show how five indebted countries can escape their debt trap in 30 (or 70) years.     

灵魂的投影内心的独白——谈美国诗人 E.E.肯明斯的几首诗

E.E.肯明斯是美国著名的先锋诗人。他的诗歌形式变异,语言分裂,在世界诗坛独树一帜。多年来,一些学者主要从他的语言和形式上探讨他的诗歌,认为他过分追求诗歌的形式,难免在主题上缺少应有的深刻度。但笔者认为,与其说肯明斯是用一种特立独行的方式与世界对话,倒不如说他标新立异的诗句正是他灵魂的投影,内心的独白。本文将依据文学批评的相关理论,探讨肯明斯诗歌的主题。