Many studies, as well as historical events, indicate that oil price shocks affect the macro economy of a country. In this paper we build a Chinese Computable General Equilibrium (CGE) model, with which we simulate the impact on the Chinese economy of international crude oil price when it rises...

Traditional methods of capital investment project evaluation do not provide the flexibility for strategic decision making on new business ventures. However, real options tools encourage proactive strategic management and, when used properly, can significantly improve decision making in regard to...

Traditional capital budgeting models price only systemic risk. However, insurers and banks seek to manage their total risk. With the help of modern information systems and information technology, bankers and insurers are able to get timely information on the risk exposures of their multiple...

The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the...

Unconventional central bank measures are playing a key policy role for many advanced economies in the 2007-09 global crisis. Are they playing a similar role for emerging economies? Emerging economies have widely used unconventional foreign exchange and domestic short-term liquidity easing...

In the last twenty years, the financial risk management has gained an important role for the companies and financial institutions. Financial innovations have improved the efficiency of risk management process, but at the same time, they have imposed new challenges for market participants and...

The last two years have stressed how special and important banks are. When the financial system fails, the whole economic system is affected. The financial sector has undergone an unprecedented wave of innovation, change, consolidation and now crisis. We now have a better understanding of the...

The ABI choices on Compliance Tests have led to the drafting of the White Paper on Compliance Function and to the need to explore some topic issues. After identifying the categories of checks carried out by the Compliance Function and the main stages of Compliance Risk Management, the analysis...

The widespread use of personal computers and spreadsheet models for feasibility studies makes risk-based Monte Carlo simulation analysis of proposed investments a relatively simple task. Add-in simulation packages for Microsoft® Excel can be used to make spreadsheet models stochastic. Rather...