The IMF's model did not allow for an Iraqi invasion. 国际货币基金组织的模型并未考虑到伊拉克的入侵。 But other errors are less easily explained: between 1990 and 2007, the IMF's spring forecasts underestimated global growth in 1
Finance and Economics 财经 World Economic Outlook: Hope Springs 世界经济展望:希望之春 The IMF believes that economic growth is picking up, sounds familiar. 国际货币基金组织相信世界经济回暖向好,这话有点儿耳熟?
In fact, big surprises were rare. 实际上,大惊喜不是天天都有。 For a project this complex, a lot of preparation ( de-risking in the jargon) is needed before private contractors can be confident they won't encounter big obstacles, and ca
Finance and Economics 财经 Crossrail: The skeleton crew 穿城铁路:骨干成员 Lessons on risk management, from Europe's biggest infrastructure project. 由欧洲最大的基础设施项目带来的风险管控经验。 The eastbound platform
Business 商业 Apple in China: App Wars 苹果在中国:应用之战 Tencent takes on Apple in China 腾讯与苹果公司在中国的角逐。 In most of the world, the success of Apple's walled garden of proprietary software has two elements. 在世
Hostilities have now broken out with Tencent. 现在,苹果公司已对腾讯有所不满。 The two had co-existed happily: since richer Chinese prefer iPhones to Android phones, these devices are where WeChat made much of its money. 腾讯和苹果
Finance and Economics 财经 Buttonwood: Bumper buy-backs 梧桐树专栏:丰厚的回购 A new paper argue that to forecast share returns, buy-backs as well as dividends must be counted. 一项新研究表明,想要预测股票收益,必须计算
Finance and Economics 财经 Afirca-EU Trade: Blown off course 欧非贸易:偏离主旨 Another trade deal adrift. 另一项贸易协定又难以尘埃落定。 The winds that waft along the Swahili coast change direction with the seasons, a boon
A more profound question is whether EPAs really are good for development. 一个更值得人思考的问题是是否经济伙伴关系协定(EPA)真的有助于将来更好的发展。 African manufacturers worry about European competition: nasce
Finance and Economics 财经 Foreign Exchange Trading: Be good, or else 外汇交易:规矩点 A new code of conduct aims to clean up a tonish market. 新规指向规整通行市场。 Financial market traders have earned a pretty shocking reputati
An obvious apparent difference between dividends and buy-backs is that every shareholder gets the dividend but not all of them tend to take part in a buy-back. 股息与回购的明显区别是每个持股人都会得到分红,但并不是所有的持
It is also designed to reflect current market practice, with clear guidelines on communication between participants and on trade-execution practices 它还旨在反映当前市场实践,在参与者之间的沟通和交易执行操作上有明确的指
The next year it hit 5.4% even as unemployment changed little. 第二年,甚至在失业变化不大的情况下达到了5.4%。 The stagflation of the 1970s killed off the idea of a stable Phillips curve. 上世纪70年代滞张(stagflation)曾一度
The implication? 言下之意? For a central bank to keep unemployment below the natural rate, it must keep outdoing itself, delivering inflation surprise after inflation surprise. 对于想把失业率维持在自然比率之下的央行来说,它
The relationship between inflation and unemployment was first studied by Irving Fisher in 1926. 1926年,通胀与失业之间的关系在欧文费雪(Irving Fisher)那里得到了第一次研究。 But the Phillips curve, as it came to be known, ow
If people cannot find jobs because they have outdated skillsthink hand weavers after the invention of the loomthey might become structurally unemployed. 如果人们是因为具有过时的技能而不能找到工作想想织布机发明之后的手工
Economics Brief 经济学简介 Six Big Ideas: The natural rate of unemployment 六大经济学原理:失业的自然比率 Central bankers' holy grail 央行银行家的圣杯 Policymakers have spent half a century in search of the natural rate of
Aarusha's successful pitch is that its hostels are safer than slums or informal guest houses, especially for women. 阿鲁沙成功之处在于其青年旅馆比贫民窟和非正式宾馆更加安全,尤其是对女士而言。 It now has 4,300 be
Business 商业 Aarusha Homes: Room to grow 阿鲁沙之家:增多的房间 The road to Indian prosperity is paved with cheap and cheerful hostels. 印度繁荣之路铺满了廉价且宜人的旅馆。 If several hundred million Indians do migrate
But what if the sought-after thing was $100 itself? 但是,如果孜孜以求的是100美元自己呢? What if people produced goods to obtain money, not merely as a transactional device to be swiftly exchanged for other things, but as a store of
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