This paper investigates the effect of money-back guarantee (MBG) and customer value on dualchannel supply chain.Manufacturer could produce and sell old generation product by direct channel to compete with new generati...This paper investigates the effect of money-back guarantee (MBG) and customer value on dualchannel supply chain.Manufacturer could produce and sell old generation product by direct channel to compete with new generation product by retail channel.Both retailer and manufacturer could choose whether implementing the MBG strategy or not.This paper discusses whether manufacturer should open the direct channel,how to make MBG strategy to realize maximum profits,and how customer value influences the supply chain.We give the boundary conditions of four situations about the decisions of retailer and manufacturer GG situation,GN situation,NG situation and NN situation.We find that MBG strategy by retailer brings higher retail unit price,MBG strategy by manufacturer brings higher direct unit price and influences the wholesale price by the net salvage value of new generation product.This paper shows that if the demand was positive,opening the direct channel always benefits the manufacturer.Besides,customer value affects demands of two channels and the threshold value of parameter is given in this paper.展开更多
The great expansionary policies undertaken by the main central banks of the world since the outbreak of the world financial and economic crisis in 2008 did not produce a satisfying recovery of the real economy especia...The great expansionary policies undertaken by the main central banks of the world since the outbreak of the world financial and economic crisis in 2008 did not produce a satisfying recovery of the real economy especially in Europe. In order to identify the causes of this failure, it became necessary to deepen the analysis of the transmission mechanism of monetary policy, and to investigate if there are some obstacles hampering the functioning of this mechanism. The scope of the present papers to analyze some short comings of the transmission mechanism of the monetary policy is conducted by the European Central Bank （ECB） in the euro area. After a close examination of the relationship between the monetary base and the supply of money, transmission through the credit channel and through the interestrate channel will be taken into consideration. The analysis shows that loans to nonfinancial corporations were not affected by the huge amount of liquidity created by the ECB, while a very slow growth is shown by loans to private households during the whole period.展开更多
文摘This paper investigates the effect of money-back guarantee (MBG) and customer value on dualchannel supply chain.Manufacturer could produce and sell old generation product by direct channel to compete with new generation product by retail channel.Both retailer and manufacturer could choose whether implementing the MBG strategy or not.This paper discusses whether manufacturer should open the direct channel,how to make MBG strategy to realize maximum profits,and how customer value influences the supply chain.We give the boundary conditions of four situations about the decisions of retailer and manufacturer GG situation,GN situation,NG situation and NN situation.We find that MBG strategy by retailer brings higher retail unit price,MBG strategy by manufacturer brings higher direct unit price and influences the wholesale price by the net salvage value of new generation product.This paper shows that if the demand was positive,opening the direct channel always benefits the manufacturer.Besides,customer value affects demands of two channels and the threshold value of parameter is given in this paper.
文摘The great expansionary policies undertaken by the main central banks of the world since the outbreak of the world financial and economic crisis in 2008 did not produce a satisfying recovery of the real economy especially in Europe. In order to identify the causes of this failure, it became necessary to deepen the analysis of the transmission mechanism of monetary policy, and to investigate if there are some obstacles hampering the functioning of this mechanism. The scope of the present papers to analyze some short comings of the transmission mechanism of the monetary policy is conducted by the European Central Bank （ECB） in the euro area. After a close examination of the relationship between the monetary base and the supply of money, transmission through the credit channel and through the interestrate channel will be taken into consideration. The analysis shows that loans to nonfinancial corporations were not affected by the huge amount of liquidity created by the ECB, while a very slow growth is shown by loans to private households during the whole period.
