INFLATION, HEDGING AND THE DEMAND FOR MONEY: SOME EMPIRICAL EVIDENCE

This paper explores the role of nominal rate of return uncertainty and inflation hedging as potentially important factors explaining the pattern of money demand. Using U.S. quarterly data over the period 1952.2–1982.4, it is shown that in conformity with theoretical considerations the nominal rate of return uncertainty variable tends to have a significantly positive effect and the inflation hedging variable (the covariance between nominal rate of return and inflation rate) a significantly negative effect on the demand for money. These findings seem to be reasonably robust in terms of various definitions of income, interest rates, inflation rate and money variables as well as in terms of different estimation methods.     

New views and visions on product structures

Abstract

The paper deals with different viewpoints in product structuring knowledge. Special interest is paid to a new viewpoint called control structure. The necessity for such a concept is based on the penetration of product oriented manufacturing systems (factories, workshops and cells) together with the related distribution of production management decision making. Control structure is an aggregated control oriented viewpoint on the product structure hiding the details of the work operations and materials requirements at the lower levels of decision making. Thus control structures are also intended for the integration and loosely coupled co-ordination of control units. The paper also strongly advocates the application of interactive graphics in the manipulation of product structure information. A practical system developed is demonstrated as a vehicle for implementing the concepts introduced.     

章太炎对“公理”的批判及其“齐物”哲学

晚清的社会精英和官僚们在当时极尽所能地为一种基于物化和科学理性的政治制度铺平意识形态及制度建设的前提,"公理"的概念正是这一宏大计划的一部分。而从独特的佛/道视角出发的章太炎则是当时少数几位能够对这一概念进行透彻的哲学批评的知识分子之一。章太炎对"公理"的批评是与他构想一种"齐"的世界的尝试相关的。我们可以将章太炎的"齐"视之为是一种对一个被在20世纪初的中国变得日益风行的抽象原则和势力所统治的世界的抵抗。在表述这个世界时,章太炎援引了传统思想,并试图将语言本身推到其极限,以表达一种能够逃逸出种种概念范畴的理想形式。