Using Natural Real Exchange Rate model and combining with actual economic situations in Japan,we set up equilibrium real exchange rate model of Japanese Yen.Based on the model we assess the misalignment and also analy...Using Natural Real Exchange Rate model and combining with actual economic situations in Japan,we set up equilibrium real exchange rate model of Japanese Yen.Based on the model we assess the misalignment and also analyze its reason since the beginning of Yen's fluctuation.Finally we get conclusions as follows: Yen/Dollar real exchange rate has always been fluctuating acutely.Overvaluation alternates with undervaluation,either of which may last three to five years.Japanese government's too much intervention in nominal exchange rate is a very important factor of the misalignment.Overvaluation does much negative effect on the economy,especially in a period when the economy shrinks due to lacking for domestic consumption demand.In that case,currency crisis will probably soon break out.展开更多
During underground coal gasification （UCG）, whereby coal is converted to syngas in situ, a cavity is formed in the coal seam. The cavity growth rate （CGR） or the moving rate of the gasification face is affected by...During underground coal gasification （UCG）, whereby coal is converted to syngas in situ, a cavity is formed in the coal seam. The cavity growth rate （CGR） or the moving rate of the gasification face is affected by controllable （operation pressure, gasification time, geometry of UCG panel） and uncontrollable （coal seam properties） factors. The CGR is usually predicted by mathematical models and laboratory experiments, which are time consuming, cumbersome and expensive. In this paper, a new simple model for CGR is developed using non-linear regression analysis, based on data from 1 l UCG field trials. The empirical model compares satisfactorily with Perkins model and can reliably predict CGR.展开更多
In order to verify that the open bond market is the most direct choice to promote the internationalization of RMB,the empirical analysis method is used to analyze the impact of bond liberalization on the international...In order to verify that the open bond market is the most direct choice to promote the internationalization of RMB,the empirical analysis method is used to analyze the impact of bond liberalization on the internationalization of RMB foreign exchange rate.Firstly,the data source processing method of empirical analysis is introduced.Then the dynamic panel data regression model and panel threshold model are built to verify the influence factors of RMB internationalization foreign exchange rate and the influence of debt market opening on RMB foreign exchange rate,respectively.The results show that the opening of the creditor's rights market has a significant positive promoting effect on the internationalization of RMB foreign exchange rate,and the development of the domestic creditor's rights market has a significant promoting effect on the internationalization of RMB foreign exchange rate.The study has a certain role in promoting the status of China's currency in the international community.展开更多
This paper investigates the influence of exchange rate volatility on the volume of Japanese manufacturing export. The volatility in yen is shown by conditional variance from EGARCH （Exponential Generalized Autoregres...This paper investigates the influence of exchange rate volatility on the volume of Japanese manufacturing export. The volatility in yen is shown by conditional variance from EGARCH （Exponential Generalized Autoregressive Conditional Heteroscedasticity） model, allowing for asymmetric effects that a shock of an appreciation of the yen is different from that of a depreciation of the yen. The export action model including exchange rate volatility is constructed based on VAR （Vector Auto Regressive） model to examine the relationship between exchange rate uncertainty and the volume of export. Tests are performed for typical eight kinds of industry in Japan. Few empirical studies focus on each Japanese industry export. Results indicate significant negative effects of exchange rate volatility on most manufacturing exports. In addition, this paper analyzes the each industry, featurc of the influence of exchange rate on the volume of Japanese export. The authors find that equipment industries occupying 60% or more of total Japanese exports especially tend to receive negative influence of exchange.展开更多
This paper aims to detect the underlying regime behind the historical data of the Australian Dollar-U.S.Dollar exchange rate and potential influential factors.Based on academic research and empirical analysis,a series...This paper aims to detect the underlying regime behind the historical data of the Australian Dollar-U.S.Dollar exchange rate and potential influential factors.Based on academic research and empirical analysis,a series of statistical analysis are carried out to capture the significant factors and their channels through which they could exert effects upon the dynamic behaviour of the exchange rate.展开更多
文摘Using Natural Real Exchange Rate model and combining with actual economic situations in Japan,we set up equilibrium real exchange rate model of Japanese Yen.Based on the model we assess the misalignment and also analyze its reason since the beginning of Yen's fluctuation.Finally we get conclusions as follows: Yen/Dollar real exchange rate has always been fluctuating acutely.Overvaluation alternates with undervaluation,either of which may last three to five years.Japanese government's too much intervention in nominal exchange rate is a very important factor of the misalignment.Overvaluation does much negative effect on the economy,especially in a period when the economy shrinks due to lacking for domestic consumption demand.In that case,currency crisis will probably soon break out.
文摘During underground coal gasification （UCG）, whereby coal is converted to syngas in situ, a cavity is formed in the coal seam. The cavity growth rate （CGR） or the moving rate of the gasification face is affected by controllable （operation pressure, gasification time, geometry of UCG panel） and uncontrollable （coal seam properties） factors. The CGR is usually predicted by mathematical models and laboratory experiments, which are time consuming, cumbersome and expensive. In this paper, a new simple model for CGR is developed using non-linear regression analysis, based on data from 1 l UCG field trials. The empirical model compares satisfactorily with Perkins model and can reliably predict CGR.
文摘In order to verify that the open bond market is the most direct choice to promote the internationalization of RMB,the empirical analysis method is used to analyze the impact of bond liberalization on the internationalization of RMB foreign exchange rate.Firstly,the data source processing method of empirical analysis is introduced.Then the dynamic panel data regression model and panel threshold model are built to verify the influence factors of RMB internationalization foreign exchange rate and the influence of debt market opening on RMB foreign exchange rate,respectively.The results show that the opening of the creditor's rights market has a significant positive promoting effect on the internationalization of RMB foreign exchange rate,and the development of the domestic creditor's rights market has a significant promoting effect on the internationalization of RMB foreign exchange rate.The study has a certain role in promoting the status of China's currency in the international community.
文摘This paper investigates the influence of exchange rate volatility on the volume of Japanese manufacturing export. The volatility in yen is shown by conditional variance from EGARCH （Exponential Generalized Autoregressive Conditional Heteroscedasticity） model, allowing for asymmetric effects that a shock of an appreciation of the yen is different from that of a depreciation of the yen. The export action model including exchange rate volatility is constructed based on VAR （Vector Auto Regressive） model to examine the relationship between exchange rate uncertainty and the volume of export. Tests are performed for typical eight kinds of industry in Japan. Few empirical studies focus on each Japanese industry export. Results indicate significant negative effects of exchange rate volatility on most manufacturing exports. In addition, this paper analyzes the each industry, featurc of the influence of exchange rate on the volume of Japanese export. The authors find that equipment industries occupying 60% or more of total Japanese exports especially tend to receive negative influence of exchange.
文摘This paper aims to detect the underlying regime behind the historical data of the Australian Dollar-U.S.Dollar exchange rate and potential influential factors.Based on academic research and empirical analysis,a series of statistical analysis are carried out to capture the significant factors and their channels through which they could exert effects upon the dynamic behaviour of the exchange rate.
