In the context of global warming,China is facing with increasing climate risks.It is imperative to develop quantitative indices to reflect the climate risks caused by extreme weather/climate events and adverse climati...In the context of global warming,China is facing with increasing climate risks.It is imperative to develop quantitative indices to reflect the climate risks caused by extreme weather/climate events and adverse climatic conditions in association with different industries.Based on the observations at 2288 meteorological stations in China and the meteorological disasters data,a set of indices are developed to measure climate risks due to water-logging,drought,high temperature,cryogenic freezing,and typhoon.A statistical method is then used to construct an overall climate risk index(CRI)for China from these individual indices.There is a good correspondence between these indices and historical climatic conditions.The CRI,the index of water-logging by rain,and the high temperature index increase at a rate of 0.28,0.37,and 0.65 per decade,respectively,from 1961 to 2016.The cryogenic freezing index is closely related to changes in the consumer price index for food.The high temperature index is correlated with the consumption of energy and electricity.The correlation between the yearly growth in claims on household property insurance and the sum of the water-logging index and the typhoon index in the same year is as high as 0.70.Both the growth rate of claims on agricultural insurance and the annual growth rate of hospital inpatients are positively correlated with the CRI.The year-on-year growth in the number of domestic tourists is significantly negatively correlated with the CRI in the same year.More efforts are needed to develop regional CRIs.展开更多
In 2014, the amount of RMB cross-border settlement had reached RMB7.6tn. It is important to evaluate the potential influence of RMB internationalization on China＇s macroeconomy. In the present study, a framework that...In 2014, the amount of RMB cross-border settlement had reached RMB7.6tn. It is important to evaluate the potential influence of RMB internationalization on China＇s macroeconomy. In the present study, a framework that includes monetary supply and demand was created to analyze the influences of RMB cross-border settlement on China＇s domestic interest rate, asset price and foreign exchange reserves. It is found that RMB settlement in different BOP items leads to very different effects on China＇s real economy and the financial market. Based on the analysis, we provide a framework of the policy priorities for RMB internationalization, with the RMB cross-border settlement items divided into three groups with different priorities. Meanwhile, to support RMB internationalization, exchange rate reforms should be adopted as a priority and a prudent attitude maintained regarding capital account liberalization.展开更多
基金Supported by the National Key Research and Development Program of China(2018YFA0606302 and 2012CB955900)
文摘In the context of global warming,China is facing with increasing climate risks.It is imperative to develop quantitative indices to reflect the climate risks caused by extreme weather/climate events and adverse climatic conditions in association with different industries.Based on the observations at 2288 meteorological stations in China and the meteorological disasters data,a set of indices are developed to measure climate risks due to water-logging,drought,high temperature,cryogenic freezing,and typhoon.A statistical method is then used to construct an overall climate risk index(CRI)for China from these individual indices.There is a good correspondence between these indices and historical climatic conditions.The CRI,the index of water-logging by rain,and the high temperature index increase at a rate of 0.28,0.37,and 0.65 per decade,respectively,from 1961 to 2016.The cryogenic freezing index is closely related to changes in the consumer price index for food.The high temperature index is correlated with the consumption of energy and electricity.The correlation between the yearly growth in claims on household property insurance and the sum of the water-logging index and the typhoon index in the same year is as high as 0.70.Both the growth rate of claims on agricultural insurance and the annual growth rate of hospital inpatients are positively correlated with the CRI.The year-on-year growth in the number of domestic tourists is significantly negatively correlated with the CRI in the same year.More efforts are needed to develop regional CRIs.
基金This research is supported by the National Social Science Foundation （Grant No. 13AJL008） and the National Natural Science Foundation （Grant No. 71503263）.
文摘In 2014, the amount of RMB cross-border settlement had reached RMB7.6tn. It is important to evaluate the potential influence of RMB internationalization on China＇s macroeconomy. In the present study, a framework that includes monetary supply and demand was created to analyze the influences of RMB cross-border settlement on China＇s domestic interest rate, asset price and foreign exchange reserves. It is found that RMB settlement in different BOP items leads to very different effects on China＇s real economy and the financial market. Based on the analysis, we provide a framework of the policy priorities for RMB internationalization, with the RMB cross-border settlement items divided into three groups with different priorities. Meanwhile, to support RMB internationalization, exchange rate reforms should be adopted as a priority and a prudent attitude maintained regarding capital account liberalization.
