This paper examines how the macroeconomic environment affects crash risk-policy uncertainty sensitivity. We document that policy uncertainty heightens crash risk, while economic growth diminishes crash risk-policy uncertainty sensitivity through the managers’ policy risk perception channel....

Under practical operation conditions, hydrodynamic characteristics of floating horizontal-axis turbine are affected by the wave-induced motion response of the floating platform for the turbine system. In this thesis, CFX software is adopted to analyze the hydrodynamic performance of the turbine...

This paper investigates nonlinearities in a quantity-based monetary policy rule for China within a New Keynesian DSGE model. Empirical results from Bayesian estimation show that the central bank of China has adopted a nonlinear quantity rule over the period of 1992Q1–2013Q3. Moreover, evidence...

This paper applies the pressure-state-response (PSR) model to establish environmental quality indices for 30 administrative regions in China from 2003 to 2011 and employs panel data analysis to study the relationships among the urbanization rate, economic development and environmental change....

ABSTRACT We estimate the effectiveness of offering discounts on the demand for featured pork products using Ipsos‐Reid's Consumer Panel of Canada data for a 1‐year period from April 2007 to March 2008, and explore whether there are any positive or negative spillover effects on non‐featured...

By constructing a modified version of interest-rate term structure and incorporating it into a micro-founded DSGE model, this paper investigates China's monetary policy transparency as well as its macroeconomic implications by using quarterly data for the period 1992–2013. Empirical results...

Credit risk management is important for the investors in practical risk management. This paper aims to discuss how to evaluate the default risk of bond portfolios by applying extreme value theory. Based on Black and Cox default approach, we propose a novel threshold default model and use extreme...

Based on the stylized facts of financial crises and systemic risk accumulation, this paper constructs a new financial imbalance index (FII) from the perspective of endogenous financial cycles and assesses its application in China's macro-financial analysis. The results show that the FII is not...

Do sophisticated players in the stock market, namely institutions, trade against intangible information, thereby mitigating the extent of overreaction?More generally, do trades by institutions tend to move asst prices toward or away from fundamental values?