This paper analyzes the current situation of agricultural credit policy in Dingxi City,and further studies the problems in the implementation of credit policy in Dingxi City,and puts forward strategies and suggestions...This paper analyzes the current situation of agricultural credit policy in Dingxi City,and further studies the problems in the implementation of credit policy in Dingxi City,and puts forward strategies and suggestions according to these problems.展开更多
At present, China’s green credit market is the most important channel for green financing and has a great influence on the development of China’s green finance. Based on the collection and arrangement of the related...At present, China’s green credit market is the most important channel for green financing and has a great influence on the development of China’s green finance. Based on the collection and arrangement of the related data and information, the paper points out the main problems which is existing in China’s green credit by figures and examples from aspects of detail standards of policies, the matching level between deposits and loans and the management ability of avoiding environmental risk. Furthermore, the paper puts forward corresponding countermeasures of the problems.展开更多
Most papers about trade credit in supply chain studied retailer's inventory policy based on information shared.Few papers paid attention to supplier's trade credit policy under asymmetric information.So this p...Most papers about trade credit in supply chain studied retailer's inventory policy based on information shared.Few papers paid attention to supplier's trade credit policy under asymmetric information.So this paper tries to propose supplier's optimal trade credit policy to reveal retailer's private information.The aim is achieved by developing an incentive model with revelation principle.The retailer's private information can be found out through this trade credit policy.This contract is more general than the wholesale price contract.For the retailer's private information,the order quantity and ratio of delay in payment are distorted.Sensitivity analysis shows that the contract is influenced by sales ability and discount rate.Finally,the indirect mechanism with the same effect is proposed to make it easy to be put into practice.展开更多
After the outbreak of the international financial crisis,the People’s Bank of China,based on traditional monetary policy tools,launched a series of structural monetary policy tools such as standing lending facility(S...After the outbreak of the international financial crisis,the People’s Bank of China,based on traditional monetary policy tools,launched a series of structural monetary policy tools such as standing lending facility(SLF),medium-term lending facility(MLF),and pledged supplementary lending(PSL)and targeted at liquidity via the commercial banking system.In order to test the credit transmission effect of structured monetary policy,this paper empirically analyzes the relationship between structured monetary policy,bank liquidity and bank credit based on the VAR model.The research shows that the implementation of structured monetary policy reduces the liquidity of commercial banks in the short term and increases in loans to small or micro enterprises and agriculture-related loans,these policies have produced significant short-term effects on credit transmission in steady of long-term effects.Thus,a series of supporting measures are needed to fully exert the effects of structural monetary policy.展开更多
The gross domestic product of Russia,expressed in US dollars,indicates problems in the Russian economy associated with the decline in oil prices on the world energy market and the consequences of the sanctions of the ...The gross domestic product of Russia,expressed in US dollars,indicates problems in the Russian economy associated with the decline in oil prices on the world energy market and the consequences of the sanctions of the United States and the European Union against Russia.The crisis situation of the Russian economy has a negative impact on the income of the population of country,represented mainly by wages.However,an economist or investor may be optimistic about Russian economic development in the medium term.This optimism is related to the economic policy of the United States.The expansion of the United States economy within the global space,based on economic growth,requires maintaining inflation within the target level and weakening the US dollar.These tasks are solved with the help of soft monetary policy of the US Federal Reserve System.The reduction of interest rates by the US Federal Reserve System against the background of inflation of the target level and the devaluation of the US dollar will contribute to economic growth in the United States,because it will lead to the depreciation of public debt,lower consumption of imports,increase in exports and trade balance,growth of production,income,consumption.The economic policy of the United States,which contributes to the devaluation of the US dollar,will also reduce the US dollar against the ruble.The optimistic view of investors-economists on the Russian economy is due to a significant strengthening of the ruble against the US dollar.Consequently,in the medium term,the gross domestic product and wages of citizens of Russia,expressed in US dollars,will significantly increase,and the purchasing power of the national currency of the country will also increase.This growth may continue until the next election of a new President of the United States in november 2020.After the election of the new President of the United States,there is a high probability of sanctions against Russia and of decline in oil prices in the world energy market in accordance with the future economic policy of the United States–two main reasons for the sharp strengthening of the US dollar against the ruble,which will cause a deeper economic crisis in Russia in the medium and long term.展开更多
A model was proposed for addressing investment risk of the flee reserve in the form of credit or currency risk. This risk was expressed by a constant amount K ( e. g., securitization) upon an interest-increasing eve...A model was proposed for addressing investment risk of the flee reserve in the form of credit or currency risk. This risk was expressed by a constant amount K ( e. g., securitization) upon an interest-increasing event and a random variable Z representing the recovery rate of a bond or a devaluation factor. The model equation is an integro-differential equation with deviating arguments. The analytical solutions were obtained for the probability of survival as Z is a discrete random variable and as Z is a continuous random variable respectively.展开更多
This study examined the effects of mobile money-a recent innovation in Uganda’s financial-sector landscape-on aggregate economic activity and other macroeconomic variables.We first estimated the long-run mobile-money...This study examined the effects of mobile money-a recent innovation in Uganda’s financial-sector landscape-on aggregate economic activity and other macroeconomic variables.We first estimated the long-run mobile-money demand function using vector error correction(VEC)techniques,distinguishing between balances and transfers/transactions.We then estimated the short-run effects of mobile money on selected macroeconomic variables using structural vector autoregressive(SVAR)methods.The results showed that mobile money had moderate positive effects on monetary aggregates,consumer price index,private-sector credit,and aggregate economic activity.Mobile money balances responded to changes in monetary policy instruments,signaling possible ameliorating effects for the conduct of monetary policy.Finally,the results showed that transactional motives related to mobile money had stronger macroeconomic effects than savings motives.展开更多
Structural monetary policy and macro-prudential policies are important parts of the policy system of the People’s Bank of China.By constructing a dynamic stochastic general equilibrium model that includes the heterog...Structural monetary policy and macro-prudential policies are important parts of the policy system of the People’s Bank of China.By constructing a dynamic stochastic general equilibrium model that includes the heterogeneity of corporate and bank credit,the authors divide the policies of the People’s Bank of China into seven categories,and explores the policy effectiveness of structural monetary policy,macro-prudential policy and traditional aggregate monetary policy.Through simulation of the model,it is found that whether facing technical shocks,interest rate shocks or credit shocks,the structural two-pillar policy tool that uses the deposit reserve interest rate as the target of operation is most conducive to economic stability.Technological progress has the most positive and lasting impact on output.Interest rates and credit policies will leave follow-up problems in the adjustment of the economy,and structural two-pillar policies can alleviate the impact of these problems.展开更多
文摘This paper analyzes the current situation of agricultural credit policy in Dingxi City,and further studies the problems in the implementation of credit policy in Dingxi City,and puts forward strategies and suggestions according to these problems.
文摘At present, China’s green credit market is the most important channel for green financing and has a great influence on the development of China’s green finance. Based on the collection and arrangement of the related data and information, the paper points out the main problems which is existing in China’s green credit by figures and examples from aspects of detail standards of policies, the matching level between deposits and loans and the management ability of avoiding environmental risk. Furthermore, the paper puts forward corresponding countermeasures of the problems.
基金National Natural Science Foundation of China (No. 70571055)
文摘Most papers about trade credit in supply chain studied retailer's inventory policy based on information shared.Few papers paid attention to supplier's trade credit policy under asymmetric information.So this paper tries to propose supplier's optimal trade credit policy to reveal retailer's private information.The aim is achieved by developing an incentive model with revelation principle.The retailer's private information can be found out through this trade credit policy.This contract is more general than the wholesale price contract.For the retailer's private information,the order quantity and ratio of delay in payment are distorted.Sensitivity analysis shows that the contract is influenced by sales ability and discount rate.Finally,the indirect mechanism with the same effect is proposed to make it easy to be put into practice.
文摘After the outbreak of the international financial crisis,the People’s Bank of China,based on traditional monetary policy tools,launched a series of structural monetary policy tools such as standing lending facility(SLF),medium-term lending facility(MLF),and pledged supplementary lending(PSL)and targeted at liquidity via the commercial banking system.In order to test the credit transmission effect of structured monetary policy,this paper empirically analyzes the relationship between structured monetary policy,bank liquidity and bank credit based on the VAR model.The research shows that the implementation of structured monetary policy reduces the liquidity of commercial banks in the short term and increases in loans to small or micro enterprises and agriculture-related loans,these policies have produced significant short-term effects on credit transmission in steady of long-term effects.Thus,a series of supporting measures are needed to fully exert the effects of structural monetary policy.
文摘The gross domestic product of Russia,expressed in US dollars,indicates problems in the Russian economy associated with the decline in oil prices on the world energy market and the consequences of the sanctions of the United States and the European Union against Russia.The crisis situation of the Russian economy has a negative impact on the income of the population of country,represented mainly by wages.However,an economist or investor may be optimistic about Russian economic development in the medium term.This optimism is related to the economic policy of the United States.The expansion of the United States economy within the global space,based on economic growth,requires maintaining inflation within the target level and weakening the US dollar.These tasks are solved with the help of soft monetary policy of the US Federal Reserve System.The reduction of interest rates by the US Federal Reserve System against the background of inflation of the target level and the devaluation of the US dollar will contribute to economic growth in the United States,because it will lead to the depreciation of public debt,lower consumption of imports,increase in exports and trade balance,growth of production,income,consumption.The economic policy of the United States,which contributes to the devaluation of the US dollar,will also reduce the US dollar against the ruble.The optimistic view of investors-economists on the Russian economy is due to a significant strengthening of the ruble against the US dollar.Consequently,in the medium term,the gross domestic product and wages of citizens of Russia,expressed in US dollars,will significantly increase,and the purchasing power of the national currency of the country will also increase.This growth may continue until the next election of a new President of the United States in november 2020.After the election of the new President of the United States,there is a high probability of sanctions against Russia and of decline in oil prices in the world energy market in accordance with the future economic policy of the United States–two main reasons for the sharp strengthening of the US dollar against the ruble,which will cause a deeper economic crisis in Russia in the medium and long term.
基金Project supported by National Natural Science Foundation of China (Grant Nos. 10471088, 60572126)
文摘A model was proposed for addressing investment risk of the flee reserve in the form of credit or currency risk. This risk was expressed by a constant amount K ( e. g., securitization) upon an interest-increasing event and a random variable Z representing the recovery rate of a bond or a devaluation factor. The model equation is an integro-differential equation with deviating arguments. The analytical solutions were obtained for the probability of survival as Z is a discrete random variable and as Z is a continuous random variable respectively.
文摘This study examined the effects of mobile money-a recent innovation in Uganda’s financial-sector landscape-on aggregate economic activity and other macroeconomic variables.We first estimated the long-run mobile-money demand function using vector error correction(VEC)techniques,distinguishing between balances and transfers/transactions.We then estimated the short-run effects of mobile money on selected macroeconomic variables using structural vector autoregressive(SVAR)methods.The results showed that mobile money had moderate positive effects on monetary aggregates,consumer price index,private-sector credit,and aggregate economic activity.Mobile money balances responded to changes in monetary policy instruments,signaling possible ameliorating effects for the conduct of monetary policy.Finally,the results showed that transactional motives related to mobile money had stronger macroeconomic effects than savings motives.
基金supported by High-level Talent Project of Basic and Applied Basic Research Program(Natural Science Field)of Hainan Province under Grant No.2019RC065the National Natural Science Foundation of China under Grant No.71963011Philosophy and Social Science Planning Project of Hainan Province under Grant Nos.HNSK(ZD)19-108 and HNSK(QN)18-10。
文摘Structural monetary policy and macro-prudential policies are important parts of the policy system of the People’s Bank of China.By constructing a dynamic stochastic general equilibrium model that includes the heterogeneity of corporate and bank credit,the authors divide the policies of the People’s Bank of China into seven categories,and explores the policy effectiveness of structural monetary policy,macro-prudential policy and traditional aggregate monetary policy.Through simulation of the model,it is found that whether facing technical shocks,interest rate shocks or credit shocks,the structural two-pillar policy tool that uses the deposit reserve interest rate as the target of operation is most conducive to economic stability.Technological progress has the most positive and lasting impact on output.Interest rates and credit policies will leave follow-up problems in the adjustment of the economy,and structural two-pillar policies can alleviate the impact of these problems.