The paper estimates banks' total factor efficiency (TFE) as well as TFE of each production factor by incorporating banks' overall risk endogenously into bank's production process as undesirable by-product in a Global-SMB Model. Our results show that, compared with a model incorporated with...

International trade has been playing an extremely significant role in China over the last 20 years. This paper is aimed at investigating and understanding the relationship between China’smacro-economy and oil price fromthis newperspective. We find strong evidence to suggest that the increase...

The development of shadow banking system in China catalyzes the expansion of banks’ off-balance-sheet activities, resulting in a distortion of China’s traditional credit expansion and underestimation of its commercial banks’ overall risk. This paper is the first to incorporate banks’...

The conflict among natural resources, environment and economic development is one of the major problems to be solved in the current world. Sustainable development is a powerful tool on the way toward seeking for harmonious development. Due to a lack of resources and fragility in ecosystems, the...

Since solid oxide fuel cells (SOFC) produce electricity with high energy conversion efficiency, and chemical looping combustion (CLC) is a process for fuel conversion with inherent CO2 separation, a novel combined cycle integrating coal gasification, solid oxide fuel cell, and chemical looping...