检索结果-南通市图书馆

Journal of Systems Science and Information 2023年第5期11卷 604-621页

作者： Xiao CUI Mo YIN Kun GUO Yijing WANG School of Economics and Management University of Chinese Academy of SciencesBeijing 100190China Research Center on Fictitious Economy&Data Science Chinese Academy of ScienceBeijing 100190China

The bond market is an important market for investment and financing in China’s economic sectors,and also an important part of the monetary policy framework.The internal transmission of bond market is an important part of market interest rate transmission,which iscritical to the effectiveness of monetary policy.However,few scholars have studied the characteristics of interest rate transmission in China.An in-depth study of the interest rate transmission mechanism and its dynamic evolution between different bond markets is conducive to clarify the pulse of transmission within Chinese bond market and to further unblock the transmission mechanism of monetary policy.From the perspective of system theory and based on the analysis method of Granger causality complex network,this paper finds that the interest rate transmission among various varieties in China’s bond market is relatively significant.Treasury bonds and CDB bonds are the two core bond varieties of interest rate transmission in the bond market.Simultaneously,this study concludes that the medium and long-term interest rate played a dominant role in the transmission of market interest rate during the easing phase of monetary policy,while the short-term interest rate played a dominant role in the transmission of market interest rate during the tightening phase of monetary policy.This paper also gives enlightenment and suggestions.

关键词： bond market interest rate transmission mechanism Granger causality complex network

On interest-rate Risk in Use of Postal Savings Funds

在线全文

学校读者我要写书评

暂无评论

The Journal of China Universities of Posts and Telecommunications 2006年第2期13卷 99-102页

作者： DU Chong-dong ZHOU Zhi-cui Finance Department Shijiazhuang Post and Telecommunication Technical College Shijiazhuang 050021 P.R. China

This paper analyzes interest-rate risks that postal savings bureau may face. Our analysis is based on the cash flow characteristics of postal savings funds. The analyzed interest-rate risks consist of re-pricing risks, reinvestment risks, yield curve risks, basis risks and other derivative risks such as credit risks and liquidity risks. This paper presents alternative methods to control and manage these interest-rate risks.

关键词： interest rate interest-rate risk postal savings funds

Effect of interest rate on economic performance: evidence from Islamic and non-Islamic economies

在线全文

学校读者我要写书评

暂无评论

Financial Innovation 2016年第1期2卷 108-121页

作者： Saba Mushtaq Danish Ahmed Siddiqui Karachi University Business School University of KarachiKarachiPakistan

Background:Saving and investment are two of the most important tools for economic growth.The interest rate has always been considered an important determinant of saving and investment.However,according to Islamic teachings,riba or earning interest on saving or investment is forbidden,and thus,many Muslims try to avoid earning income from the interest rate.Therefore,the aim of this study is to assess the effects of this religious guideline on the financial decisions of an Islamic country’s population and its impact on saving and investment.Methods:We applied the random effect and system generalized method of moments(GMM)model separately to data of 17 non-Islamic and 17 Islamic countries from 2005 to 2013.Results:The results suggest that people in Islamic countries are not concerned about the interest rate on saving,but in non-Islamic countries,the interest rate,per capita income,and inflation have significant positive impacts,and national expenditure has a significant negative impact on saving.However,in Islamic countries,remittances received and national expenditure have negative significant impacts,and per capita income has a positive significant impact on saving.In the case of investment,interest rate and inflation show a negative effect on investment while trade affects investment positively in both Islamic and non-Islamic countries.Furthermore,domestic credit provided by banks has a negative significant effect on investment in non-Islamic countries,while in Islamic countries,remittances show a positive significant impact on investment.Conclusions:The governments and policy makers of Islamic countries should not imitate the economic policies of non-Islamic countries because religious factors play an important role in the interest rate-saving relationship.Instead,they should increase per capita income by improving employment conditions and by reducing remittances received and national expenditure.Policies on saving should not allow earning interest.Furthermore,in order to increase investment,efforts should be m

关键词： interest rate Economic performance Islamic countries Riba Saving Investment

Empirical Research upon the Influence of interest rate Changes upon the Real Estate Market Price

维普期刊数据库评论

在线全文

维普期刊数据库

学校读者我要写书评

暂无评论

学术界 2015年第6期 317-321页

作者： Zhou Nan Economics Department Changsha Commerce and Tourism College

VAR model is used to empirically test the influence of interest rate changes on real estate market price in this paper. The results show that there is a long- term,stable negative relationship between them,while the coefficient is relatively small,mainly because the transmission mechanism of interest rate is not smooth and the degree of marketization of interest rates is not high. Therefore,market- oriented reform of interest rate should be sped up and the interest rate should gradually be made to play the leading role in the regulation of real estate market price.

关键词： interest rate real estate market price VEC model VAR model

The General Equilibrium Analysis about interest rate, Tax and Economy Development

在线全文

同方期刊数据库

学校读者我要写书评

暂无评论

The General Equilibrium Analysis about Interest Rate, Tax an...

Research on Dynamic Relationship Between interest rate&Exchange rate—Based on the Analysis of Marketization of interest rate and Exchange rate

2007 International Conference on Public Administration（ICPA 3rd）

作者： HUANG Jian-hong WANG Su-sheng Tourism College Hainan University Shenzhen Graduate School Harbin Institute of Technology

ISBN: (纸本)9787811146585

It usually exists in inherent relation among economy variables. A dynamic general equilibrium model based on new classical economics is used to analyze the relationship between interest rate and commodity tax. We firstly constructs a Walrasian general equilibrium model;then analyzes the determination of interest rate in the evolution process of division of labor and the relationship between tax rate and equilibrium interest rate;finally, this paper assumes that the tax rate is unchangeable and analyzes the influence of interest rate policy to aggregate revenue and economy development.

关键词： interest rate Tax General equilibrium Economy development

来源： cnki会议评论

在线全文

cnki会议

学校读者我要写书评

暂无评论

经济管理学刊（中英文版） 2021年第1期10卷 24-39页

作者： Shaoyin Zheng SILC Business School Shanghai University201800China

This paper empirically analyzed the dynamic relationship between interest rate and exchange rate with VAR model and VECM using monthly data from 2008 to 2019.One of the main contributions of this paper is that it concentrated on studying how the marketization of interest rate and exchange rate plays a role in the transmission mechanism between these two rates by dividing the sample into 6 different groups according to the process of the marketization.The results show that there are long-term and short-term equilibrium relationship between interest rate and exchange rate.Also,interest rate could quickly respond to the changes in exchange rate after the marketization,which reflect that the marketization of interest rate is effective in China.However,exchange rate could not effectively respond to changes in interest rate.Thus,the marketization of exchange rate still needs to be improved.In addition,the results show that after marketization,an increase in the interest rate would lead to a decrease in exchange rate now,which could be a reference to the formulation of monetary policies.

关键词： Marketization interest rate Exchange rate VECM

An Analysis of Competition over interest rate among Banks in China

维普期刊数据库评论

在线全文

维普期刊数据库

学校读者我要写书评

暂无评论

Journal of Shanghai University(English Edition) 2003年第4期7卷 418-424页

作者：顾翌乐陈湛匀 Head Office Bank of Communications China College of International Business and Administration Shanghai University Shanghai 201800 China

In 2000, the central bank of China adopted a policy to gradually liberalize its interest rate, and thus raised the curtain of competition over interest rate among the banks in China. The objective of this study is to put a focus on the existing banking market environment and thereafter the gaming behaviors of the banks on different stages given the interest rate is loosened gradually as scheduled.

关键词： interest rate liberalization bank.

AN OPTIMAL INVESTMENT/CONSUMPTION PROBLEM WITH HIGHER BORROWING rate

在线全文

学校读者我要写书评

暂无评论

Applied Mathematics(A Journal of Chinese Universities) 1998年第1期13卷 68-76页

作者： WUXIONGWEI XUWENSHENG CHENSHUPING 000~7. DepartmentotAppliedMathematics ZhejiangUniversityHangzhou310027／／PaymentandScience~.TechnologyDepartmentPeople＇sBankotChinaBeijlngI0{）800. 027.

In this paper, optimal investment and consumption decisions for an optimal choice problem in infinite horizon are considered, for an investor who has available a bank account and a stock whose price is a log normal diffusion. The bank pays at an interest rate r for any deposit, and takes at a larger rate r′ for any loan. As in the paper of Xu Wensheng and Chen Shuping in JAMS(B), where an analogous problem in finite horizon is studied, optimal strategies are obtained via Hamilton Jacobi Bellman (HJB) equation which is derived from dynamic programming principle. For the specific HARA case, i.e. U(t,c)=e -βt c 1-R 1-R , this paper gets the optimal consumption and optimal investment in the form ofc * t=β-Rw t\ and \ π * t=b-γRσ 2w twith γ:= max{ r, min{ r′,b-Rσ 2 }}, =(1-R)γ+(b-γ) 22Rσ 2]. This result coincides with the classical one under condition r′≡r.

关键词： Investment consumption interest rate borrowing rate stock market.

Management of a Complex Portfolio of Assets with Stochastic Drifts and Volatilities

在线全文

学校读者我要写书评

暂无评论

Open Journal of Statistics 2022年第6期12卷 827-838页

作者： Wendkouni Yaméogo Korotimi Ouédraogo Diakarya Barro LANIBIO Université Joseph KI-ZERBO Ouagadougou Burkina Faso Université Thomas SANKARA Ouagadougou Burkina Faso

In financial analysis risk quantification is essential for efficient portfolio management in a stochastic framework. In this paper we study the value at risk, the expected shortfall, marginal expected shortfall and value at risk, incremental value at risk and expected shortfall, the marginal and discrete marginal contributions of a portfolio. Each asset in the portfolio is characterized by a trend, a volatility and a price following a three-dimensional diffusion process. The interest rate of each asset evolves according to the Hull and White model. Furthermore, we propose the optimization of this portfolio according to the value at risk model.

关键词： Value at Risk Expected Shortfall Stochastic Process interest rate

Worldwide Inflation and International Monetary Reform:Exchange rates or interest rates?

维普期刊数据库评论

在线全文

维普期刊数据库

学校读者我要写书评

暂无评论

China & World Economy 2011年第5期19卷 1-16页

作者： Ronald McKinnon Stanford University StanfordUS Professor of Economics

The international dollar standard is malfunctioning. Near-zero US short-term interest rates launch massive hot money outflows into emerging markets （EM） in Asia and Latin America. Each EM central bank buys dollars to prevent its currency from appreciating but loses monetary control. Despite some appreciation, average inflation in EMs is now much higher than in the old industrial economies and world commodity prices are bid up sharply. This inflation on the dollar ＇s periphery only registers in the US CPI with a long lag. However, the more immediate effect of the Fed＇s zero interest rate is to upset the process of bank intermediation within the American economy. Bank credit continues to decline while employment languishes. Therefore, constructive international monetary reform calls for the Fed to abandon its zero-interest rate policy, which is best done in cooperation with the European Central Bank, the Bank of Japan, and the Bank of England also abandoning their ultra low interest rates.

关键词： exchange rate global inflation international monetary reform interest rate