26 results on '"Andong Zhu"'
Search Results
2. Enabling Efficient Spatio-Temporal GPU Sharing for Network Function Virtualization
- Author
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Deze Zeng, Andong Zhu, Lin Gu, Peng Li, Quan Chen, and Minyi Guo
- Subjects
Computational Theory and Mathematics ,Hardware and Architecture ,Software ,Theoretical Computer Science - Published
- 2023
3. Evaluation of O3 and NOx Pollution Based on People’s Perception
- Author
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Shuwei Jiang, Cezuan Yang, Zhengguan Li, Andong Zhu, and Yuping Jiang
- Subjects
Pollution ,Environmental protection ,media_common.quotation_subject ,Perception ,Air pollution ,medicine ,Environmental Chemistry ,Environmental science ,medicine.disease_cause ,NOx ,General Environmental Science ,media_common - Published
- 2021
4. Structural modal shapes visualization by using two-step motion magnification
- Author
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Chengtao Hu, Andong Zhu, Dang Ding, and Dashan Zhang
- Published
- 2022
5. Treating greywater using quartz sand filters: the effect of particle size, substrate combinations, and reflux ratio
- Author
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Liang Xu, Liangqian Chen, Min Zhang, Andong Zhu, Xiaojie Zheng, Min Zhao, Hainan Kong, and Xiangyong Zheng
- Published
- 2020
6. Hybrid-driven structural modal shape visualization using subtle variations in high-speed video
- Author
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Dashan Zhang, Andong Zhu, Yuwei Wang, and Jie Guo
- Subjects
Electrical and Electronic Engineering ,Engineering (miscellaneous) ,Atomic and Molecular Physics, and Optics - Abstract
The phase-based motion magnification technique can exaggerate specific structural vibrations and obtain potential applications in visualizing and understanding modal shapes. However, the quality of motion magnification is affected by noise and clipping artifacts, especially in large amplifications. We propose a hybrid-driven motion magnification framework that combines Eulerian and Lagrangian motion processing. Since the structural global spatial vibration corresponding to different modal shapes usually accumulates energy differences in the timeline, from a Eulerian perspective, temporal intensity variations are denoised and separated according to the energy distribution to control spatial motions. Meanwhile, from a Lagrangian perspective, the motion magnification is realized by compensating spatial motion according to the magnified inter-frame motion vector field. By utilizing both Eulerian and Lagrangian motion processing, the proposed framework supports a larger amplification factor and achieves better performance in perceiving subtle vibrations in controlled modal tests.
- Published
- 2022
7. Influences of groove configuration and density ratio on grooved leading-edge showerhead film cooling using the pressure sensitive paint measurement technique
- Author
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Lin Ye, Cunliang Liu, Kun Du, Lei Chen, Yongming Wang, and Andong Zhu
- Subjects
Fluid Flow and Transfer Processes ,Mechanical Engineering ,Condensed Matter Physics - Published
- 2022
8. Gost: Enabling Efficient Spatio-Temporal GPU Sharing for Network Function Virtualization
- Author
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Quan Chen, Peng Li, Deze Zeng, Lin Gu, and Andong Zhu
- Subjects
GOST (hash function) ,Task (computing) ,Computer science ,Distributed computing ,Server ,Scalability ,Graphics processing unit ,Resource allocation ,Integer programming ,Scheduling (computing) - Abstract
Network Function Virtualization (NFV) enables network functions to run on general-purpose servers, thus alleviates the reliance on dedicated hardware and significantly improves the scalability and flexibility in networking service provisioning. Meanwhile, it is recognized that Virtualized Network Functions (VNFs) suffer from serious performance problem. Graphics Processing Unit (GPU), with massive processing cores, has been advocated as a potential accelerator for improving the performance efficiency of VNFs. However, the special architecture of GPU makes existing CPU-oriented task scheduling strategies fail to be applied, limiting the acceleration potential of GPUs. To this end, we propose a GPU-oriented spatio-temporal sharing framework as Gost to improve the performance of GPU-accelerated VNFs. We also study how to minimize the end-to-end latency of VNF flows via careful scheduling on the execution order and the GPU resource allocation (i.e., the number of threads). We first formally describe the problem as a non-linear integer programming problem, which is then equivalently transformed into an integer linear programming (ILP) form. Considering the high computation complexity of solving ILP, we further propose a customized list scheduling based spatio-temporal GPU sharing strategy (LSSTG). We have practically implemented a prototype of Gost, based on which we also verify the high efficiency of LSSTG by extensive experiments.
- Published
- 2021
9. Gas-Phase Advanced Oxidation (GPAO) for Gas Containing Benzene Series by Ultraviolet Irradiation/Hydrogen Peroxide Vapour (UV/[H2O2]g) Process
- Author
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Yuping Jiang, Juanjuan Song, and Andong Zhu
- Subjects
chemistry.chemical_compound ,Materials science ,chemistry ,Scientific method ,Ultraviolet irradiation ,Benzene ,Hydrogen peroxide ,Photochemistry ,Gas phase - Abstract
Hydrogen peroxide (H2O2) has the remarkable characteristics of strong oxidation, in which its vapour ([H2O2]g)has further advantages, such as economize and good light transmission. But there is very rare research about its degradation effect in Gas-Phase Advanced Oxidation (GPAO). In the present study, the photochemical oxidation for gas containing benzene series, using ultraviolet (UV) irradiation and [H2O2]g, was investigated in a transparent bag made of fluorinated ethylene propylene (FEP). Only UV or [H2O2]g hardly reduced the pollutant in 5 hours in which the reactor was also stable. With the high pollutant concentration (248 to 756 mg/m3) and short residence time (3S) compared with the related studies, studying the degradation of benzene, toluene and xylene, the apparent rate by UV/[H2O2]g/(powder active carbon, PAC) was higher compared with the different way (UV/[H2O2]g, UV/[H2O2]g/TiO2 and UV/[H2O2]g/ZnO), but it was found that the terminal degradation by UV/[H2O2]g significantly decreased, in which the conductivity decreased after reaction. The effects of increasing pollutant concentration and H2O2 pH were negative for the treament, but the UV radiated power positive till 40W. In addition, the characteristic absorbance for three benzene series showed that the key structure of pollutant molecule were damaged in GPAO.
- Published
- 2021
10. Detailed showerhead cooling effectiveness measurements on the notched leading-edge surface: Effect of freestream turbulence and density ratio
- Author
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Lin YE, Cunliang LIU, Bingran LI, and Andong ZHU
- Subjects
History ,Polymers and Plastics ,General Chemical Engineering ,Business and International Management ,Condensed Matter Physics ,Industrial and Manufacturing Engineering ,Atomic and Molecular Physics, and Optics - Published
- 2022
11. Task Offloading in Trusted Execution Environment empowered Edge Computing
- Author
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Quan Chen, Andong Zhu, Deze Zeng, Yuepeng Li, and Lin Gu
- Subjects
020203 distributed computing ,Computer science ,business.industry ,Quality of service ,Distributed computing ,Approximation algorithm ,020206 networking & telecommunications ,Provisioning ,02 engineering and technology ,Energy budget ,Encryption ,Scheduling (computing) ,Task (project management) ,Resource (project management) ,0202 electrical engineering, electronic engineering, information engineering ,Task analysis ,business ,Edge computing - Abstract
To tackle the computation resource poorness on the end devices, task offloading is developed to reduce the task completion time and improve the Quality-of-Service (QoS). Edge computing facilitates such offloading by provisioning resources at the proximity of the end devices. Nowadays, many tasks on end devices have an urgent demand for the security of execution environment. To address this problem, we introduce trusted execution environment (TEE) to empower edge computing for secure task offloading. To explore TEE, the offloading process should be redesigned with the introduction of data encryption and decryption. This makes traditional offloading optimization policy fail to be applied directly. To address this issue, we are motivated to take the data encryption and decryption into the offloading scheduling algorithm. In particular, we propose a Customized List Scheduling based Offloading (CLSO) algorithm, aiming at minimizing the total completion time with the consideration of energy budget limitations on the end devices. The experiment results show that our approximation algorithm can effectively reduce the total completion time and significantly outperforms existing state-of-the-art offloading strategy.
- Published
- 2020
12. Cooling characteristics of the trailing-edge slot downstream from internal multi-ribbed channel
- Author
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Changxian Zhang, Cun-liang Liu, Andong Zhu, Fan Zhang, and Lin Ye
- Subjects
Fluid Flow and Transfer Processes ,Jet (fluid) ,Materials science ,Heat flux ,Mechanical Engineering ,Heat transfer ,Trailing edge ,Heat transfer coefficient ,Mechanics ,Condensed Matter Physics ,Adiabatic process ,Discharge coefficient ,Coolant - Abstract
To investigate the cooling characteristics of the trailing-edge slot fed by the coolant channel with the straight ribs arranged at small pitch, the effects of the straight rib height and blowing ratio on the adiabatic cooling effectiveness and convective heat transfer coefficient of expanded cutback surface were studied by using the steady pressure sensitive paint technology and transient thermochromic liquid crystal technology, respectively. The cutback discharge coefficient and cooling performance under the multi-ribbed channel were analyzed and discussed, then the heat flux ratio was introduced to evaluate the optimal cooling structure. The experimental results showed that the discharge coefficient of trailing-edge slot increases slightly with the increase of blowing ratio, which is opposite to the increase of rib-height. At low blowing ratio (M≤0.50), the increase of the rib-height significantly strengthens the degree of jet disarray. As the coolant core region upstream of the slot-exit changes, a region with low adiabatic cooling effectiveness appears in the downstream. At the excessive blowing ratio(M=0.75), the adiabatic cooling effectiveness of the ribbed case with low height shows an abnormal trend opposite to the increase of blowing ratio. As the flow loss (based on the discharge coefficient) of the large height case is intensified, the instability of the cold vortex is strengthened, which cancels out the dominance of the flow field. The case with multi-ribbed channel can significantly improve the heat transfer performance of the region near the slot-exit. At large blowing ratio(M≥1.00), the high heat transfer coefficient area near the slot-exit develops into a core region with the high heat transfer coefficient, which can be extended to the downstream of the flow direction for the low height case. The optimal case with rib height of h/H=0.3 can improve the overall cooling effectiveness of the cutback surface by 20∼50%.
- Published
- 2022
13. The Transformation of China's Economic Development
- Author
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Wandong Yang, Shudong Huang, Jianjun Zhang, and Andong Zhu
- Subjects
Economics ,Economic system ,China ,Transformation (music) - Published
- 2019
14. Marxist Crisis Theory and the Rate of Profit in the U.S. Economy during 1975-2008
- Author
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Fusheng Xie, An Li, and Andong Zhu
- Subjects
Economics and Econometrics ,Sociology and Political Science ,Monetary economics ,Crisis theory ,Profit (economics) ,Market liquidity ,Organic composition of capital ,Market economy ,Political Science and International Relations ,Rate of profit ,Economics ,Financialization ,Marxist philosophy ,Industrial relations - Abstract
The cyclical fall in the rate of profit reveals the basic mechanism of the cyclical fluctuation of the economy. A new synthesis of the Marxist crisis theory necessitates calculating the rate of profit as well as considering factors such as capital-labor relations, realization of value, the organic composition of capital, and money and credit. Empirical studies suggest that the U.S. profit rate in real economy showed no signs of effective recovery during 1975-2008. The shrinking profit share caused by growing employment of non-production workers turns out to be the major factor contributing to the cyclical fall in the rate of profit, which in turn may be traced to the reorganization of the production process before the 1990s and the growing flexibility of employment relations after the 1990s. With long-term stagnation of the rate of profit, a new, financialised model of accumulation that heavily depends on increasing liquidity in the economy took shape in the United States, making the U.S. economy ...
- Published
- 2013
15. Total Laparoscopic Roux-en-Y Cholangiojejunostomy for the Treatment of Biliary Disease
- Author
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Dexing Chen, Andong Zhu, and Zhibo Zhang
- Subjects
Male ,medicine.medical_specialty ,Biliary Tract Diseases ,Jejunostomy ,digestive system ,Roux-en-Y cholangiojejunostomy ,Cholangiocarcinoma ,Biliary disease ,Hepatic Artery ,Postoperative Complications ,health services administration ,Scientific Papers ,medicine ,Periampullary cancer ,Humans ,Choledochal cysts ,Common bile duct stone ,Bile duct injury ,Aged ,Aged, 80 and over ,Common bile duct ,Portal Vein ,Bile duct ,business.industry ,nutritional and metabolic diseases ,Postoperative complication ,Middle Aged ,medicine.disease ,people.cause_of_death ,humanities ,Cancer of pancreatic head ,Surgery ,Biliary Tract Surgical Procedures ,surgical procedures, operative ,Bile Ducts, Intrahepatic ,medicine.anatomical_structure ,Bile Duct Neoplasms ,Biliary tract ,Hepatic portal cholangiocarcinoma ,Feasibility Studies ,Laparoscopy ,Female ,Bile Duct Diseases ,Congenital choledochal cyst ,people ,business - Abstract
Total laparoscopic Roux-en-Y cholangiojejunostomy may be a first choice for patients with biliary disease that requires biliary-jejunal anastomosis., Background and Objectives: Roux-en-Y cholangiojejunostomy (RCJS) has been widely used in biliary bypass surgeries, but in most reported literature, an assisted mini-incision was needed, and studies reporting total laparoscopic Roux-en-Y cholangiojejunostomy (TLRCJS) are rare. The goal of this study was to investigate how to treat hepatic portal bile duct diseases and perform jejunojejunostomy and cholangiojejunostomy totally laparoscopically. We evaluated the feasibility of TLRCJS in treating biliary tract diseases. Methods: TLRCJS were performed in 103 patients from January 2000 to August 2011. There were 28 cases of recurrent choledocholithiasis combined with stricture of the common bile duct (CBD) after several stone extractions, 3 patients with iatrogenic bile duct injury, 24 patients with choledochal cyst, 36 patients with hepatic portal cholangiocarcinoma, and 12 patients with cancer of the pancreatic head and periampullary cancer. All surgeries were performed through 5 trocars. First, laparoscopic surgery on the CBD was performed according to the original disease. The CBD was opened and stones were extracted in choledocholithiasis patients. In iatrogenic injury patients, strictured CBD was resected and repaired. Dilated CBD or choledochal cyst with tumor was transected. In patients with malignant jaundice, the CBD was opened longitudinally. At the same time, the bile duct was prepared for cholangiojejunostomy. Second, the positions of the laparoscope and surgeons were altered. The jejunal mesentery and jejunum were transected, and side-to-side jejunojejunostomy (JJS) was performed. The laparoscope and surgeon positions were exchanged again; the Roux-en-Y biliary limb was lifted close to the residual bile duct; and side-to-side or end-to-side choledochojejunostomy (CJS) was performed. Finally, an abdominal drainage tube was placed. Results: All the surgeries were performed successfully. The diameter of the residual bile duct ranged from 0.4 to 3.2 cm (average, 0.9 cm). Three patients had postoperative bile leakage and were treated from 1 week to approximately 1 month with abdominal drainage. Postoperative intraperitoneal hemorrhage and stress ulcer of the stomach occurred in 2 patients with biliary tract injury combined with obstructive jaundice. One with intraperitoneal hemorrhage was cured by another laparoscopic surgery. The other patient was cured after 2 days of abdominal drainage, antacids, and hemostatic drug therapy. The follow-up duration of 95 patients was 4 to 93 months (average, 48.3 months). The follow-up rate was 92.2% (95/103). Patients with cancer died of metastasis or cachexia during 14-month follow-up with no postoperative complication. Reflux cholangitis occurred in 3 patients 2, 3, and 5 years after the operation, respectively. No anastomotic stricture or other complication was found in other patients during the follow-up. Conclusions: TLRCJS is the best and first choice for patients with biliary tract diseases that need biliary-jejunal anastomosis. But it is essential that the surgeon has proficiency in laparoscopic surgeries.
- Published
- 2013
16. The Dependence of China’s Economic Growth on Exports and Investment
- Author
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Andong Zhu and David M. Kotz
- Subjects
Economics and Econometrics ,Philosophy ,Market economy ,Sustainability ,Economics ,Growth model ,Chinese economy ,Investment (macroeconomics) ,China - Abstract
This paper analyzes the growing role played by exports and investment in China’s rapid economic growth since 1978. It examines the reasons for the shift over time in China’s growth model, which occurred in stages, and it questions the sustainability of the recent dependence on exports and investment. It proposes structural changes in China’s growth model and considers the obstacles to such changes. JEL classification:O53, F43, O11
- Published
- 2010
17. LONG WAVES, INSTITUTIONAL CHANGES, AND HISTORICAL TRENDS: A STUDY OF THE LONG-TERM MOVEMENT OF THE PROFIT RATE IN THECAPITALIST WORLD-ECONOMY
- Author
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Andong Zhu, Feng Xiao, and Minqi Li
- Subjects
Profit rate ,Labour economics ,geography ,Hegemony ,geography.geographical_feature_category ,Sociology and Political Science ,Movement (music) ,media_common.quotation_subject ,Fell ,Wage ,lcsh:Political science ,Term (time) ,lcsh:Social Sciences ,lcsh:H ,Market economy ,World economy ,Political Science and International Relations ,Economics ,Kondratiev wave ,lcsh:J ,media_common - Abstract
In this paper we study the long-term movement of the profit rate and related variables in the UK, the US, Japan, and the Euro-zone. Since the mid-19th century there have been four long waves in the movement of the average profit rate and rate of accumulation. The average profit rate tended to fall between the late 19th century and the late 20th / early 21st century. The average profit share fell substantially in the transition from the UK hegemony to the US hegemony. The fall of the profit rateand profit share reflected rising wage and taxation costs. Our findings raise important questions regarding the future development of the capitalist world economy.
- Published
- 2007
18. Laparoscopic transcystic choledochotomy with primary suture for choledocholith
- Author
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Dexing Chen, Andong Zhu, and Zhibo Zhang
- Subjects
Primary suture ,Adult ,Male ,Primary closure of common bile duct ,medicine.medical_specialty ,Common bile duct stones ,Anterior wall ,Gallstones ,digestive system ,Cohort Studies ,medicine ,Scientific Papers ,Humans ,Aged ,Aged, 80 and over ,Magnetic resonance cholangiopancreatography ,Common bile duct ,medicine.diagnostic_test ,business.industry ,Gallbladder ,Suture Techniques ,Cystic Duct ,Jaundice ,Length of Stay ,Middle Aged ,Laparoscope ,digestive system diseases ,Surgery ,Transcystic ,Biliary Tract Surgical Procedures ,medicine.anatomical_structure ,surgical procedures, operative ,Cystic duct ,Drainage ,Female ,Laparoscopy ,medicine.symptom ,business ,Duct (anatomy) - Abstract
Background and objectives To investigate the possibility of extracting common bile duct (CBD) stones by laparoscopically inserting choledochoscope through the natural orifice of the cystic duct and a mini-incision on the CBD, and the safety of laparoscopic primary double-layer suture of the cystic duct and CBD. Methods Laparoscopic transcystic choledochotomy and extraction of stones with primary suture was performed on 194 patients with gallbladder and CBD stones from October 1, 2009, through April 30, 2012. The cystic duct was left at a diameter of 1 to 1.5 cm after removal of the gallbladder. The duct was longitudinally cut at its ventral side to the confluence with the CBD, and the anterior wall of the CBD was also cut longitudinally. A choledochoscope was then inserted via the enlarged opening, and the stones were extracted from the CBD. Finally, the CBD and cystic duct were closed by continuous mucous layer suture and seromuscular Lembert suture, respectively. The cystic duct was ligated close to the CBD and an abdominal drainage tube was placed. Results All surgical procedures were successfully performed. The caliber at the confluence between the cystic duct and the CBD was 0.3 to 0.8 cm (SD 0.4 ± 0.1 cm), and the mini-incision of the CBD was 0.1 to 1.1 cm (SD 0.3 ± 0.2 cm). Abdominal drainage lasted 3 to 5 days. Magnetic resonance cholangiopancreatography (MRCP) in 55 patients showed no abnormal change in the CBD diameter. Two patients had bile leakage. Another patient had intermittent abdominal pain and jaundice 5 to 7 days postoperatively, and the retained stones spontaneously passed. The postoperative hospital stay was 6 to 13 days (SD 8 ± 2.1 days). Observation of 176 patients (90%) lasting 1 to 30 months (SD 11 ± 8 months) showed no recurrent stones or stricture of the CBD. Conclusion The surgical procedure of laparoscopic transcystic choledochotomy and extraction of stones with primary suture is feasible and safe.
- Published
- 2015
19. Inflation and economic growth: a cross-country nonlinear analysis
- Author
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Andong Zhu and Robert Pollin
- Subjects
Inflation ,Macroeconomics ,Economics and Econometrics ,Cross country ,Stimulus (economics) ,Inflation targeting ,media_common.quotation_subject ,Monetary policy ,Economics ,Regression analysis ,Real interest rate ,Gross domestic product ,media_common - Abstract
This paper presents new nonlinear regression estimates of the relationship between inflation and economic growth for 80 countries over the 1961- 2000 period, using middle-income and low-income countries. We also consider the four separate decades between 1961 and 2000. The paper consistently finds that higher inflation is associated with moderate gains in gross domestic product growth up to a roughly 15-18 percent inflation threshold. However, the findings diverge when we divide our full data set according to income levels. With the groupings by decade, the results indicate that inflation and growth will be more highly correlated to the degree that macroeconomic policy is focused on demand management as a stimulus to growth. We consider the implications of these findings for the conduct of monetary policy. One conclusion is that there is no justification for inflation-targeting policies as they are currently being practiced throughout the middle- and low-income countries, that is, to maintain inflation wi...
- Published
- 2006
20. A Modest Proposal for the G20
- Author
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Stiglitz, Joseph E., Fitoussi, Jean-Paul, Gao, Haihong, Griffith-Jones, Stephany, Huang, Yiping, Kenen, Peter, Li, Jing, Ocampo, Jose A., Reddy, Yaga Venugopal, Volz, Ulrich, Wade, Robert, Wei, Benhua, Williamson, John, Woo, Wing Thye, Xiao, Geng, Yongding, Yu, Zhang, Liqing, and Andong, Zhu
- Subjects
Economics ,Finance - Abstract
A group of international scholars and policy-makers met in Beijing on 18th of March 2011, to discuss reforms in the international monetary system. There is a general consensus that there is a need for fundamental reforms in that system, which, even if it has not caused recent imbalances and instability in the global economy, has certainly proved ineffective in addressing them. While such reforms will require extensive discussion and deliberation, the consensus of the Beijing Group was that there was a modest proposal which could be adopted this year by the G20: a limited expansion of the current SDR system. This modest proposal, while limited in scope, could be play an important role in initiating discussions of deeper reforms and which would, at the same time, make a modest contribution to restoring the world's fragile economy to health, helping to achieve the aim expressed in the G20 Pittsburgh declaration for a "strong, sustainable and balanced growth".
- Published
- 2011
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21. Inflation and Economic Growth: A Cross-Country Non-Linear Analysis
- Author
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Andong Zhu and Robert Pollin
- Subjects
Inflation ,Macroeconomics ,Stimulus (economics) ,Development studies ,Inflation targeting ,media_common.quotation_subject ,Monetary policy ,Economics ,Developing country ,Sample (statistics) ,Regression analysis ,Monetary economics ,media_common - Abstract
This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for 80 countries over the period 1961 – 2000. We perform tests using the full sample of countries as well as sub-samples consisting of OECD countries, middle-income countries, and low-income countries. We also consider the full sample of countries within the four separate decades between 1961 – 2000. Considering our full data set we consistently find that higher inflation is associated with moderate gains in GDP growth up to a roughly 15 – 18 percent inflation threshold. However, the findings diverge when we divide our full data set according to income levels. With the OECD countries, no clear pattern emerges at all with either the inflation coefficient or our estimated turning point. With the middle income countries, we return to a consistently positive pattern of inflation coefficients, though none are statistically significant. The turning points range within a narrow band in this sample, between 14 – 16 percent. With the low income countries, we obtain positive and higher coefficient values on the inflation coefficient than with the middle-income countries. With the groupings by decade, the results indicate that inflation and growth will be more highly correlated to the degree that macroeconomic policy is focused on demand management as a stimulus to growth. We consider the implications of these findings for the conduct of monetary policy. One is that there is no justification for inflation-targeting policies as they are currently being practiced throughout the middle- and low-income countries, that is, to maintain inflation with a 3 – 5 percent band.
- Published
- 2009
22. Capital Flight from China, 1982-2001
- Author
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Andong Zhu, Chunxiang Li, and Gerald Epstein
- Published
- 2005
23. Neoliberalism, Global Imbalances, and Stages of Capitalist Development
- Author
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Andong Zhu and Minqi Li
- Subjects
jel:O53 ,jel:O51 ,Neoliberalism, U.S. Economy, Chinese Economy, Imbalances, Long Waves ,jel:F32 ,jel:E12 ,jel:F01 - Abstract
This paper examines certain structural macroeconomic relations in the neoliberal global economy. The current global economy rests upon three unsustainable trends: the debt-driven U.S. consumption expansion; China’s excessive investment expansion; and the large and rising U.S. current account deficits. When these trends are eventually reversed or corrected, there could be major upheavals in the world economy. The decline of neoliberalism may pave the way for a new set of economic, political, and social institutions.
- Published
- 2005
24. Inflation and Economic Growth: A Cross-Country Non-linear Analysis
- Author
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Andong Zhu and Robert Pollin
- Subjects
Inflation, economic growth, regression analysis, monetary policy ,jel:E52 ,jel:E31 - Abstract
This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for 80 countries over the period 1961 – 2000. We perform tests using the full sample of countries as well as sub-samples consisting of OECD countries, middle-income countries, and low-income countries. We also consider the full sample of countries within the four separate decades between 1961 – 2000. Considering our full data set we consistently find that higher inflation is associated with moderate gains in GDP growth up to a roughly 15 – 18 percent inflation threshold. However, the findings diverge when we divide our full data set according to income levels. With the OECD countries, no clear pattern emerges at all with either the inflation coefficient or our estimated turning point. With the middle income countries, we return to a consistently positive pattern of inflation coefficients, though none are statistically significant. The turning points range within a narrow band in this sample, between 14 – 16 percent. With the low income countries, we obtain positive and higher coefficient values on the inflation coefficient than with the middle-income countries. With the groupings by decade, the results indicate that inflation and growth will be more highly correlated to the degree that macroeconomic policy is focused on demand management as a stimulus to growth. We consider the implications of these findings for the conduct of monetary policy. One is that there is no justification for inflation-targeting policies as they are currently being practiced throughout the middle- and low-income countries, that is, to maintain inflation with a 3 – 5 percent band.
- Published
- 2005
25. Stock Market Liquidity and Economic Growth: A Critical Appraisal of the Levine/Zervos Model
- Author
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Andong Zhu, Robert Pollin, and Michael Ash
- Subjects
Economics and Econometrics ,Critical appraisal ,Financial economics ,Control (management) ,Outlier ,Economics ,Econometrics ,Liquidity crisis ,Stock market ,Sample (statistics) ,Monetary economics ,Market liquidity - Abstract
Levine & Zervos ( 1998 ) presented cross-country econometric evidence showing that, in a sample of 47 countries, stock market liquidity contributed a significant positive influence on GDP growth between 1976–93. We show that the Levine–Zervos results are not robust to alternative specifications because of the incomplete manner in which they control for outliers in their data. We show that when one properly controls for outliers, stock market liquidity no longer exerts any statistically observable influence on GDP growth.
- Published
- 2002
26. Inflation and Economic Growth: A Cross-Country Non-Linear Analysis
- Author
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Robert Pollin and Andong Zhu
- Subjects
Development Studies, Economics and Finance - Abstract
This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as employment creation, poverty reduction and sustainable development.
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