The optimization policy of the purchase price and the profit under vendor managed inventory(VMI) is studied. For a salable product, supply chain mode of VMI is established, which is based on deterministic demand, havi...The optimization policy of the purchase price and the profit under vendor managed inventory(VMI) is studied. For a salable product, supply chain mode of VMI is established, which is based on deterministic demand, having initial stock and having stock-out cost. With the further analysis of the mode, VMI is found to increase profits of the buyer in the short-term motivation. But VMI will reduce profits of the supplier under the matching condition. And in the short-term motivation, VMI will increase the purchase price to compensate the transfer cost of the supplier. As a result, the foundation of theory is provided to implement VMI in the supply chain, and have some definituded project significance.展开更多
Based on farmers' supply behavior theory and price expectations theory,this paper establishes grain farmers' supply response model of two major grain varieties (early indica rice and mixed wheat) in the major ...Based on farmers' supply behavior theory and price expectations theory,this paper establishes grain farmers' supply response model of two major grain varieties (early indica rice and mixed wheat) in the major producing areas,to test whether the minimum grain purchase price policy can have price-oriented effect on grain production and supply in the major producing areas. Empirical analysis shows that the minimum purchase price published annually by the government has significant positive impact on farmers' grain supply in the major grain producing areas. In recent years,China steadily raises the level of minimum grain purchase price,which has played an important role in effectively protecting grain farmers' interests,mobilizing the enthusiasm of farmers' grain production,and ensuring the market supply of key grain varieties.展开更多
This paper selects 20 countries from the major dairy producing continents such as Oceania,the Americas,Europe and Asia,for the comparative analysis of the purchase price of raw milk in the world. Based on the summariz...This paper selects 20 countries from the major dairy producing continents such as Oceania,the Americas,Europe and Asia,for the comparative analysis of the purchase price of raw milk in the world. Based on the summarization of general features of the world raw milk prices,this paper elaborates the fluctuations in the purchase price of raw milk in Oceania,the Americas,Europe and Asia,respectively,and carries out the comparative study of the gap between the domestic purchase price of raw milk and the world purchase price of raw milk.展开更多
Impacts of the minimum purchase price policy for grain on the planting area of rice in Hubei Province were analyzed based on a mixed linear model.After the indicator system containing the minimum purchase price policy...Impacts of the minimum purchase price policy for grain on the planting area of rice in Hubei Province were analyzed based on a mixed linear model.After the indicator system containing the minimum purchase price policy and other factors influencing the planting area of rice was constructed,principal component analysis of the system was conducted,and then a mixed linear model where the planting area of rice was as the dependent variable was established.The results show that after the exclusion of the interference from other factors,the minimum purchase price policy for grain had a positive impact on the planting area of rice in Hubei Province.That is,the minimum purchase price policy significantly stimulated the growth of rice planting area in Hubei Province.展开更多
As a financial innovation of the information age,cryptocurrency is a complex concept with clear advantages and disadvantages and is worthy of discussion.Exploring from a terrorism perspective,this study uses the time-...As a financial innovation of the information age,cryptocurrency is a complex concept with clear advantages and disadvantages and is worthy of discussion.Exploring from a terrorism perspective,this study uses the time-varying parameter/stochastic volatil-ity vector autoregression model to explore the risk hedging and terrorist financing capabilities of Bitcoin.Empirical results show that both terrorist incidents and brutality may explain Bitcoin price,but their effects are slightly different.Compared to terrorist brutality,terrorist incidents have a weaker impact on Bitcoin price,showing that Bitcoin investors are more concerned about the number of deaths than the frequency of ter-rorist attacks.In turn,the impact of Bitcoin price on terrorist attacks is negligible.Bitcoin is a potential means of financing terrorism,but it does not currently play an important role.Our research findings can help investors analyze and predict Bitcoin prices and help improve the theoretical system of anti-terrorist financing,helping to maintain world peace and security.展开更多
This study analyzes oil price exposure of the oil–gas sector stock returns for the fragile five countries based on a multi-factor asset pricing model using daily data from 29 May 1996 to 27 January 2020.The endogenou...This study analyzes oil price exposure of the oil–gas sector stock returns for the fragile five countries based on a multi-factor asset pricing model using daily data from 29 May 1996 to 27 January 2020.The endogenous structural break test suggests the presence of serious parameter instabilities due to fluctuations in the oil and stock markets over the period under study.Moreover,the time-varying estimates indicate that the oil–gas sectors of these countries are riskier than the overall stock market.The results further suggest that,except for Indonesia,oil prices have a positive impact on the sectoral returns of all markets,whereas the impact of the exchange rates on the oil–gas sector returns varies across time and countries.展开更多
This paper proposes a Markov-switching copula model to examine the presence of regime change in the time-varying dependence structure between oil price changes and stock market returns in six GCC countries. The margin...This paper proposes a Markov-switching copula model to examine the presence of regime change in the time-varying dependence structure between oil price changes and stock market returns in six GCC countries. The marginal distributions are assumed to follow a long-memory model while the copula parameters are supposed to evolve according to the Markov-switching process. Furthermore, we estimate the Value-at-Risk (VaR) based on the proposed approach. The empirical results provide evidence of three regime changes, representing precrisis, financial crisis and post-crisis, in the dependence structure between energy and GCC stock markets. In particular, in the pre- and post-crisis regimes, there is no dependence, while in the crisis regime, there is significant tail dependence. For OPEC countries, we find lower tail dependence whereas in non-OPEC countries, we see upper tail dependence. VaR experiments show that the Markov-switching time- varying copula model performs better than the time-varying copula model.展开更多
As the basis for maintenance of national security and global strategic material,food has always captured the attention of governments in the world.After reaching a certain stage of industrialization,most countries wil...As the basis for maintenance of national security and global strategic material,food has always captured the attention of governments in the world.After reaching a certain stage of industrialization,most countries will take the food support and protection measures,and the policy objectives and policy tools have evolved into a set of policy systems through continuous adjustment,but the intervention in food price has always been present.The food price intervention only plays a role in regulating food market supply and demand and guaranteeing minimum income for grain producers,and it can not reflect the cost of food production and continuously improve grain producers' income,but because of its simple operation,low cost and immediate effect,it is suitable for the countries with a large number of grain producers but small operation scale in the short term.展开更多
The difficulty of the prediction of military aircraft purchase price lies in the small sample data, and the sample data have the complicated non-linear characteristics. By analyzing the influence of parameters of airc...The difficulty of the prediction of military aircraft purchase price lies in the small sample data, and the sample data have the complicated non-linear characteristics. By analyzing the influence of parameters of aircraft purchase price, SVR is proposed to predict the aircraft purchasing price model, and uses the model to predict the aircraft purchase price. The calculation results show that the prediction of the purchase price to establish military aircraft model has higher prediction accuracy.展开更多
There is no clear theory which states fixed relationship between inflation and growth.Controversy by quantity and institutional inflation theories also confirm this.According to quantity theorists,there is a long-run ...There is no clear theory which states fixed relationship between inflation and growth.Controversy by quantity and institutional inflation theories also confirm this.According to quantity theorists,there is a long-run trade-off between inflation and economic growth but the supporters of institutional theory of inflation,are less sure about presence of negative relationship about inflation and growth.Thus,the relationship between inflation and economic growth is debatable both in the world and specifically to Ethiopia.Therefore,the objective of this critical review is to determine the relationship between the current status of the Ethiopian economy and the consumer price index by considering the economic development indictors and consumer price index.The nexus of inflation and economic growth is one of the most important macroeconomic policy problems that take the attention of researchers,policy makers and different scholars.Conducting this review will benefit developing countries by discovering what their current status is,as far as a person with a higher level of consumption is regarded as having a higher level of economic wellbeing than someone with a lower level of consumption.This study falls within the ambit of the pragmatism philosophical stance and exploratory in nature.This study applied the inductive method of reasoning and used secondary data.The Study found that there is a negative relationship between the Ethiopian economic growth and the purchasing power of consumer(consumer price index)synonymously measured by the inflation-macroeconomic growth trade-off.The review reveals that Ethiopian economy is highly growing and the consumer price index(purchasing power of consumers)is decreasing.This shows that the purchasing power consumer(consumer price index)in Ethiopia is not solely determined by the macroeconomic development,which in turn requires further investigation.It is recommended therefore that future research works will explore more on the relationship between the Ethiopian economic growth and the purchasing power of consumer or clearly can explore the effect of economic growth on the purchasing power of consumers(consumer price index).展开更多
文摘The optimization policy of the purchase price and the profit under vendor managed inventory(VMI) is studied. For a salable product, supply chain mode of VMI is established, which is based on deterministic demand, having initial stock and having stock-out cost. With the further analysis of the mode, VMI is found to increase profits of the buyer in the short-term motivation. But VMI will reduce profits of the supplier under the matching condition. And in the short-term motivation, VMI will increase the purchase price to compensate the transfer cost of the supplier. As a result, the foundation of theory is provided to implement VMI in the supply chain, and have some definituded project significance.
文摘Based on farmers' supply behavior theory and price expectations theory,this paper establishes grain farmers' supply response model of two major grain varieties (early indica rice and mixed wheat) in the major producing areas,to test whether the minimum grain purchase price policy can have price-oriented effect on grain production and supply in the major producing areas. Empirical analysis shows that the minimum purchase price published annually by the government has significant positive impact on farmers' grain supply in the major grain producing areas. In recent years,China steadily raises the level of minimum grain purchase price,which has played an important role in effectively protecting grain farmers' interests,mobilizing the enthusiasm of farmers' grain production,and ensuring the market supply of key grain varieties.
基金Supported by National Natural Science Foundation(71203221)
文摘This paper selects 20 countries from the major dairy producing continents such as Oceania,the Americas,Europe and Asia,for the comparative analysis of the purchase price of raw milk in the world. Based on the summarization of general features of the world raw milk prices,this paper elaborates the fluctuations in the purchase price of raw milk in Oceania,the Americas,Europe and Asia,respectively,and carries out the comparative study of the gap between the domestic purchase price of raw milk and the world purchase price of raw milk.
基金Supported by the Humanities and Social Sciences Foundation for Young Scholars of Ministry of Education of China(11y3jc630197)
文摘Impacts of the minimum purchase price policy for grain on the planting area of rice in Hubei Province were analyzed based on a mixed linear model.After the indicator system containing the minimum purchase price policy and other factors influencing the planting area of rice was constructed,principal component analysis of the system was conducted,and then a mixed linear model where the planting area of rice was as the dependent variable was established.The results show that after the exclusion of the interference from other factors,the minimum purchase price policy for grain had a positive impact on the planting area of rice in Hubei Province.That is,the minimum purchase price policy significantly stimulated the growth of rice planting area in Hubei Province.
基金supported by Strategic Economy Interdisciplinarity(Beijing Universities Advanced Disciplines Initiative,No.GJJ2019163)CUFE Postgraduate students support program for the integration of research and teaching。
文摘As a financial innovation of the information age,cryptocurrency is a complex concept with clear advantages and disadvantages and is worthy of discussion.Exploring from a terrorism perspective,this study uses the time-varying parameter/stochastic volatil-ity vector autoregression model to explore the risk hedging and terrorist financing capabilities of Bitcoin.Empirical results show that both terrorist incidents and brutality may explain Bitcoin price,but their effects are slightly different.Compared to terrorist brutality,terrorist incidents have a weaker impact on Bitcoin price,showing that Bitcoin investors are more concerned about the number of deaths than the frequency of ter-rorist attacks.In turn,the impact of Bitcoin price on terrorist attacks is negligible.Bitcoin is a potential means of financing terrorism,but it does not currently play an important role.Our research findings can help investors analyze and predict Bitcoin prices and help improve the theoretical system of anti-terrorist financing,helping to maintain world peace and security.
文摘This study analyzes oil price exposure of the oil–gas sector stock returns for the fragile five countries based on a multi-factor asset pricing model using daily data from 29 May 1996 to 27 January 2020.The endogenous structural break test suggests the presence of serious parameter instabilities due to fluctuations in the oil and stock markets over the period under study.Moreover,the time-varying estimates indicate that the oil–gas sectors of these countries are riskier than the overall stock market.The results further suggest that,except for Indonesia,oil prices have a positive impact on the sectoral returns of all markets,whereas the impact of the exchange rates on the oil–gas sector returns varies across time and countries.
文摘This paper proposes a Markov-switching copula model to examine the presence of regime change in the time-varying dependence structure between oil price changes and stock market returns in six GCC countries. The marginal distributions are assumed to follow a long-memory model while the copula parameters are supposed to evolve according to the Markov-switching process. Furthermore, we estimate the Value-at-Risk (VaR) based on the proposed approach. The empirical results provide evidence of three regime changes, representing precrisis, financial crisis and post-crisis, in the dependence structure between energy and GCC stock markets. In particular, in the pre- and post-crisis regimes, there is no dependence, while in the crisis regime, there is significant tail dependence. For OPEC countries, we find lower tail dependence whereas in non-OPEC countries, we see upper tail dependence. VaR experiments show that the Markov-switching time- varying copula model performs better than the time-varying copula model.
文摘As the basis for maintenance of national security and global strategic material,food has always captured the attention of governments in the world.After reaching a certain stage of industrialization,most countries will take the food support and protection measures,and the policy objectives and policy tools have evolved into a set of policy systems through continuous adjustment,but the intervention in food price has always been present.The food price intervention only plays a role in regulating food market supply and demand and guaranteeing minimum income for grain producers,and it can not reflect the cost of food production and continuously improve grain producers' income,but because of its simple operation,low cost and immediate effect,it is suitable for the countries with a large number of grain producers but small operation scale in the short term.
文摘The difficulty of the prediction of military aircraft purchase price lies in the small sample data, and the sample data have the complicated non-linear characteristics. By analyzing the influence of parameters of aircraft purchase price, SVR is proposed to predict the aircraft purchasing price model, and uses the model to predict the aircraft purchase price. The calculation results show that the prediction of the purchase price to establish military aircraft model has higher prediction accuracy.
文摘There is no clear theory which states fixed relationship between inflation and growth.Controversy by quantity and institutional inflation theories also confirm this.According to quantity theorists,there is a long-run trade-off between inflation and economic growth but the supporters of institutional theory of inflation,are less sure about presence of negative relationship about inflation and growth.Thus,the relationship between inflation and economic growth is debatable both in the world and specifically to Ethiopia.Therefore,the objective of this critical review is to determine the relationship between the current status of the Ethiopian economy and the consumer price index by considering the economic development indictors and consumer price index.The nexus of inflation and economic growth is one of the most important macroeconomic policy problems that take the attention of researchers,policy makers and different scholars.Conducting this review will benefit developing countries by discovering what their current status is,as far as a person with a higher level of consumption is regarded as having a higher level of economic wellbeing than someone with a lower level of consumption.This study falls within the ambit of the pragmatism philosophical stance and exploratory in nature.This study applied the inductive method of reasoning and used secondary data.The Study found that there is a negative relationship between the Ethiopian economic growth and the purchasing power of consumer(consumer price index)synonymously measured by the inflation-macroeconomic growth trade-off.The review reveals that Ethiopian economy is highly growing and the consumer price index(purchasing power of consumers)is decreasing.This shows that the purchasing power consumer(consumer price index)in Ethiopia is not solely determined by the macroeconomic development,which in turn requires further investigation.It is recommended therefore that future research works will explore more on the relationship between the Ethiopian economic growth and the purchasing power of consumer or clearly can explore the effect of economic growth on the purchasing power of consumers(consumer price index).