Beijing Capital Agribusiness Group(hereinafter referred to as CAG),previously known as Beijing Municipal State Farm Administration,is an industry leader of strong brand competitiveness with 133 thousand hectares of st...Beijing Capital Agribusiness Group(hereinafter referred to as CAG),previously known as Beijing Municipal State Farm Administration,is an industry leader of strong brand competitiveness with 133 thousand hectares of state-owned land,40000 employees and a total asset of 50展开更多
This paper examines the existence of general equilibrium in a discrete time economy with the infinite horizon incomplete markets.There is a single good at each node in the event tree.The existence of general equilibri...This paper examines the existence of general equilibrium in a discrete time economy with the infinite horizon incomplete markets.There is a single good at each node in the event tree.The existence of general equilibrium for the infinite horizon economy is proved by taking limit of equilibria in truncated economies in which trade stops at a sequence of dates.展开更多
区块链是近年来炙手可热的技术话题之一,与其相关的研究理论正在不断丰富。然而,距离区块链技术落地仍面临着吞吐量小、处理效率低的关键问题。针对该问题,跨链技术作为一种有潜力,同时具备扩大吞吐量处理能力、提升处理效率的区块链技...区块链是近年来炙手可热的技术话题之一,与其相关的研究理论正在不断丰富。然而,距离区块链技术落地仍面临着吞吐量小、处理效率低的关键问题。针对该问题,跨链技术作为一种有潜力,同时具备扩大吞吐量处理能力、提升处理效率的区块链技术而被广泛关注。文中给出了一种基于改进哈希时间锁的跨链资产交互协议(A Novel Hash-Time-Lock-Contract Based Cross-Chain Token Swap Mechanism,NCASP),创造性地为Fabric区块链引入账户体系,融合智能合约技术实现了在以太坊和Fabric联盟链网络之间的安全无缝资产交换。NCASP协议在每笔HTLC(Hash Time Lock Contract)转账中设置了不同的中间账户进行资产托管和转移,并在交易完成后及时销毁,使得在原有跨链交易速率不变的同时,保证了交易的安全性。通过对协议进行仿真模拟表明,该协议适用于以Fabric为代表的联盟链与比特币以及以以太坊为代表的公链,无需第三方区块链介入,即可实现高效安全的跨链资产交换,且在交易效率上比BSN(Blockchain Service Network)的跨链方案节省了约26.8%。改进的协议扩展了传统HTLC跨链资产方案的使用场景,使不同用户间的资产交换兼顾原子性、公平性以及透明性的特点。展开更多
在Rudebusch and Svensson(1999)模型中引入了房地产价格、股票价格和汇率因素,以此为基础推导出最优货币政策反应函数。该反应函数显示,中央银行既要应对产出和通货膨胀变化,还应该考虑资产价格和汇率波动。基于GMM方法的实证分析表明...在Rudebusch and Svensson(1999)模型中引入了房地产价格、股票价格和汇率因素,以此为基础推导出最优货币政策反应函数。该反应函数显示,中央银行既要应对产出和通货膨胀变化,还应该考虑资产价格和汇率波动。基于GMM方法的实证分析表明,该反应函数能够较好刻画过去10多年间中国中央银行的货币政策。总体而言,该反应函数可以作为中国货币政策制定和执行的参考框架,货币政策应该对资产价格和汇率波动给予一定程度的关注。展开更多
文摘Beijing Capital Agribusiness Group(hereinafter referred to as CAG),previously known as Beijing Municipal State Farm Administration,is an industry leader of strong brand competitiveness with 133 thousand hectares of state-owned land,40000 employees and a total asset of 50
基金This research was supported by a project of Financial MathematicsFinancial Engineering and Finan-cial Managementwhich is o
文摘This paper examines the existence of general equilibrium in a discrete time economy with the infinite horizon incomplete markets.There is a single good at each node in the event tree.The existence of general equilibrium for the infinite horizon economy is proved by taking limit of equilibria in truncated economies in which trade stops at a sequence of dates.
文摘区块链是近年来炙手可热的技术话题之一,与其相关的研究理论正在不断丰富。然而,距离区块链技术落地仍面临着吞吐量小、处理效率低的关键问题。针对该问题,跨链技术作为一种有潜力,同时具备扩大吞吐量处理能力、提升处理效率的区块链技术而被广泛关注。文中给出了一种基于改进哈希时间锁的跨链资产交互协议(A Novel Hash-Time-Lock-Contract Based Cross-Chain Token Swap Mechanism,NCASP),创造性地为Fabric区块链引入账户体系,融合智能合约技术实现了在以太坊和Fabric联盟链网络之间的安全无缝资产交换。NCASP协议在每笔HTLC(Hash Time Lock Contract)转账中设置了不同的中间账户进行资产托管和转移,并在交易完成后及时销毁,使得在原有跨链交易速率不变的同时,保证了交易的安全性。通过对协议进行仿真模拟表明,该协议适用于以Fabric为代表的联盟链与比特币以及以以太坊为代表的公链,无需第三方区块链介入,即可实现高效安全的跨链资产交换,且在交易效率上比BSN(Blockchain Service Network)的跨链方案节省了约26.8%。改进的协议扩展了传统HTLC跨链资产方案的使用场景,使不同用户间的资产交换兼顾原子性、公平性以及透明性的特点。
文摘在Rudebusch and Svensson(1999)模型中引入了房地产价格、股票价格和汇率因素,以此为基础推导出最优货币政策反应函数。该反应函数显示,中央银行既要应对产出和通货膨胀变化,还应该考虑资产价格和汇率波动。基于GMM方法的实证分析表明,该反应函数能够较好刻画过去10多年间中国中央银行的货币政策。总体而言,该反应函数可以作为中国货币政策制定和执行的参考框架,货币政策应该对资产价格和汇率波动给予一定程度的关注。