Всего публикаций в данном разделе: 63924
Опубликовано на портале: 08-12-2002Andrew B. Abel, Janice C. Eberly American Economic Review. 1994. Vol. 84 . No. 1. P. 1369-1384.
This paper extends the theory of investment under uncertainty to incorporate fixed costs of investment, a wedge between the purchase price and sale price of capital, and potential irreversibility of investment. In this extended framework, investment is a non-decreasing function of q, the shadow price of installed capital. There are potentially three investment regimes, which depend on the value of q relative to two critical values. For values of q above the upper critical value, investment is positive and is an increasing function of q, as is standard in the theory branch of the adjustment cost literature. For intermediate values of q, between two critical values, investment is zero. Although this regime features prominently in the irreversibility literature, it is largely ignored in the adjustment cost literature. Finally, if q is below the lower critical value, gross investment is negative, a possibility that is ruled out by assumption in the irreversibility of literature. In general, however, the shadow price q is not directly observable, so we present two examples relating q to observable varieties.
Опубликовано на портале: 04-12-2002Terry J. Fitzgerald Federal Reserve Bank of Cleveland. 1999.
In their efforts to maintain low inflation, policymakers pay little attention to the growth rate of the money supply. Yet many studies have found that money growth and inflation a closely related, at least in the long run. But how long must money growth remain strong before it begins to concern policymakers? That is, what is the shortest period over which money growth seems to be reliably associated with inflation?
Опубликовано на портале: 04-12-2002Michael F. Bryan Federal Reserve Bank of Cleveland. 1997.
A historical look at the origin and uses of the word inflation, arguing that although the term has become nearly synonymous with "price increase," its original meaning--a rise in the general price level caused by an imbalance between the quantity of money and trade needs--is the definition driving many of those who advocate an anti-inflation policy for the Federal Reserve.
Лидер и его команда [статья]
Опубликовано на портале: 13-11-2002Евгений Борисович Моргунов
Существуют две традиции рассмотрения командообразования. Первая ориентирована на сам процесс развития взаимодействия членов команды. Вторая более ориентиована на изначальный отбор и совместимость членов команды. Данная статья скорее рассмаривает принципы отбра членов команды и их расстановку. Введены два новых принципа - принцип компетентности и принцип предпочтения, которые позволяют осущсьвлять расстановку членов команды более осмысленно.