We use Extended Merton model(EMM)for estimating the firm’s credit risks in the presence of inflation.We show quantitatively that inflation is an influential factor making either a benign or adverse effect on the firm...We use Extended Merton model(EMM)for estimating the firm’s credit risks in the presence of inflation.We show quantitatively that inflation is an influential factor making either a benign or adverse effect on the firm’s survival,supporting at the microeconomic level New Keynesian findings of the nonlinear inflation effect on output growth.Lower inflation increasing the firm’s expected rate of return can raise its mean year returns and decrease its default probability.Higher inflation,decreasing the expected rate return,makes the opposite effect.The magnitude of the adverse effect depends on the firm strength:for a steady firm,this effect is small,whereas for a weaker firm,it can be fatal.EMM is the only model taking account of inflation.It can be useful for banks or insurance companies estimating credit risks of commercial borrowers over the debt maturity,and for the firm’s management planning long-term business operations.展开更多
This thesis is to study spatial effect of education output on economic growth through the use of spatial measurement technique. According to the study: there’s the presence of spatial spillover effects in human capit...This thesis is to study spatial effect of education output on economic growth through the use of spatial measurement technique. According to the study: there’s the presence of spatial spillover effects in human capital, economic growth, and others;in previous years, human capital depended on mainly the employers with junior school education or below;in recent years, with the reduction of employers with junior school education or below, employers with regular higher education can best promote the economic growth. However, it’s very difficult for human capital with vocational education to promote economic growth, especially in recent years. Therefore, from the perspective of long-term economic growth, China should focus on culturing professional talents and put more resources into the development of vocational education while developing the higher education.展开更多
Input/output devices for flash memory are exposed to gamma ray irradiation. Total ionizing dose has been shown great influence on characteristic degradation of transistors with different sizes. In this paper, we obser...Input/output devices for flash memory are exposed to gamma ray irradiation. Total ionizing dose has been shown great influence on characteristic degradation of transistors with different sizes. In this paper, we observed a larger increase of off-state leakage in the short channel device than in long one. However, a larger threshold voltage shift is observed for the narrow width device than for the wide one, which is well known as the radiation induced narrow channel effect. The radiation induced charge in the shallow trench isolation oxide influences the electric field of the narrow channel device. Also, the drain bias dependence of the off-state leakage after irradiation is observed, which is called the radiation enhanced drain induced barrier lowing effect. Finally, we found that substrate bias voltage can suppress the off-state leakage, while leading to more obvious hump effect.展开更多
As a basic industry,agriculture has a far-reaching impact on national economy. Based on input-output tables of China in 2005 and2010,this paper gives a deep insight into the relationship between agriculture and nation...As a basic industry,agriculture has a far-reaching impact on national economy. Based on input-output tables of China in 2005 and2010,this paper gives a deep insight into the relationship between agriculture and national economy and its macroeconomic effects by the methods of input-output analysis,industrial correlation and macroeconomic effect analysis. The results show that the agricultural development is highly dependent on the national economy,but makes low contribution; agriculture contributes to promoting employment and improving the structure of national income distribution; despite the government's tax incentive,the agricultural equipments are updated slowly,and the corporate profits are at low level; agricultural export effect is far below the average industry level,but the import effect increases over the years,and final products are often used for domestic consumption. Finally,we set forth recommendations for improving the development of agriculture and national economy.展开更多
Scholars have used the method of thinking aloud to conduct experiments on the relationship between mother tongue thinking and college students' spoken English output process.Referring to the experimental data,this...Scholars have used the method of thinking aloud to conduct experiments on the relationship between mother tongue thinking and college students' spoken English output process.Referring to the experimental data,this essay try to do a further study on mother tongue thinking' function of each oral output process,especially the function of the idea-organizing.It is designed to enable non-English major college students consciously to take advantage of the positive transfer of mother tongue thinking and take the initiative to adapt to the English thinking pattern in order to achieve the objective of improving their English oral communication skills and ensure the effectiveness of language learning.展开更多
A review of the art state was developed about the inflow relationships and their application for reservoir characterization. The theoretical development of the methodology for determining the damage effect using type-...A review of the art state was developed about the inflow relationships and their application for reservoir characterization. The theoretical development of the methodology for determining the damage effect using type-curves of the inflow relationships was shown. We show the process followed for achieve the geothermal type-curve affected with damage for reservoirs with mean salinities of 30000 ppm and temperatures up to 350℃. This type-curve was applied using measurement production data in a Mexican geothermal field. According with the obtained results is shown that the methodology for determining the damage effect using production measurements is a sure alternative for the damage effect calculation. It was used an alternative methodology in order to validate the damage presence and the obtained results were consistent. Last thing shows that both methodologies can be combined as a confident manner.展开更多
基金The author is infinitely thankful to his friend and colleague M.Rubinstein for valuable discussions and an invariable interest to his work.The author is also thankful to C.Miller for his high estimation of the author’s efforts.Of course,all errors are author’s full responsibility.
文摘We use Extended Merton model(EMM)for estimating the firm’s credit risks in the presence of inflation.We show quantitatively that inflation is an influential factor making either a benign or adverse effect on the firm’s survival,supporting at the microeconomic level New Keynesian findings of the nonlinear inflation effect on output growth.Lower inflation increasing the firm’s expected rate of return can raise its mean year returns and decrease its default probability.Higher inflation,decreasing the expected rate return,makes the opposite effect.The magnitude of the adverse effect depends on the firm strength:for a steady firm,this effect is small,whereas for a weaker firm,it can be fatal.EMM is the only model taking account of inflation.It can be useful for banks or insurance companies estimating credit risks of commercial borrowers over the debt maturity,and for the firm’s management planning long-term business operations.
文摘This thesis is to study spatial effect of education output on economic growth through the use of spatial measurement technique. According to the study: there’s the presence of spatial spillover effects in human capital, economic growth, and others;in previous years, human capital depended on mainly the employers with junior school education or below;in recent years, with the reduction of employers with junior school education or below, employers with regular higher education can best promote the economic growth. However, it’s very difficult for human capital with vocational education to promote economic growth, especially in recent years. Therefore, from the perspective of long-term economic growth, China should focus on culturing professional talents and put more resources into the development of vocational education while developing the higher education.
文摘Input/output devices for flash memory are exposed to gamma ray irradiation. Total ionizing dose has been shown great influence on characteristic degradation of transistors with different sizes. In this paper, we observed a larger increase of off-state leakage in the short channel device than in long one. However, a larger threshold voltage shift is observed for the narrow width device than for the wide one, which is well known as the radiation induced narrow channel effect. The radiation induced charge in the shallow trench isolation oxide influences the electric field of the narrow channel device. Also, the drain bias dependence of the off-state leakage after irradiation is observed, which is called the radiation enhanced drain induced barrier lowing effect. Finally, we found that substrate bias voltage can suppress the off-state leakage, while leading to more obvious hump effect.
基金Supported by National Social Science Fund Project(11BJY113)Fundamental Research Funds for the Central Universities(SWU 1509516&1509437)
文摘As a basic industry,agriculture has a far-reaching impact on national economy. Based on input-output tables of China in 2005 and2010,this paper gives a deep insight into the relationship between agriculture and national economy and its macroeconomic effects by the methods of input-output analysis,industrial correlation and macroeconomic effect analysis. The results show that the agricultural development is highly dependent on the national economy,but makes low contribution; agriculture contributes to promoting employment and improving the structure of national income distribution; despite the government's tax incentive,the agricultural equipments are updated slowly,and the corporate profits are at low level; agricultural export effect is far below the average industry level,but the import effect increases over the years,and final products are often used for domestic consumption. Finally,we set forth recommendations for improving the development of agriculture and national economy.
文摘Scholars have used the method of thinking aloud to conduct experiments on the relationship between mother tongue thinking and college students' spoken English output process.Referring to the experimental data,this essay try to do a further study on mother tongue thinking' function of each oral output process,especially the function of the idea-organizing.It is designed to enable non-English major college students consciously to take advantage of the positive transfer of mother tongue thinking and take the initiative to adapt to the English thinking pattern in order to achieve the objective of improving their English oral communication skills and ensure the effectiveness of language learning.
文摘A review of the art state was developed about the inflow relationships and their application for reservoir characterization. The theoretical development of the methodology for determining the damage effect using type-curves of the inflow relationships was shown. We show the process followed for achieve the geothermal type-curve affected with damage for reservoirs with mean salinities of 30000 ppm and temperatures up to 350℃. This type-curve was applied using measurement production data in a Mexican geothermal field. According with the obtained results is shown that the methodology for determining the damage effect using production measurements is a sure alternative for the damage effect calculation. It was used an alternative methodology in order to validate the damage presence and the obtained results were consistent. Last thing shows that both methodologies can be combined as a confident manner.
