Early-warning analysis for currency crises in emerging markets: A revisit with fuzzy clustering

Currency crises, also often called balance-of-payment crises, occur when massive capital outflows force a country to devalue or float its currency. The world-wide integration of capital markets since the 1980s and 1990s has increased the degree of capital mobility, which also determined a substantial turbulence in foreign exchange markets and frequent currency crises. In this paper, we explore advanced supporting instruments for predicting currency crises, based on an empirical study of the currency crisis episodes in 23 emerging markets around the world during the second half of last century. More specifically, we investigate the usefulness of prediction models built based on the fuzzy c-means method. First we build clustering models that partition data into a certain number of overlapping natural groups. Thereafter, we classify the data clusters into early-warning clusters and tranquil clusters. We compare the performance of our models with a conventional c-means clustering model and a benchmark probit model. The results show that the proposed models achieve a similar level of out-of-sample performance as the probit model and c-means model. The fuzzy approach also introduces additional explanatory advantages into the early-warning analysis process. Copyright © 2010 John Wiley & Sons, Ltd.     

基于协整理论和前移回归模型的福建省耕地资源变动预测及其驱动机制研究

研究目的:探索改进时间序列预测法与多因素预测法在区域耕地资源变动预测及驱动机制分析方面局限性的途径。研究方法:(1)引入协整理论有关方法对时间序列数据平稳性及协整性进行分析和评估,为驱动机制研究提供思路;(2)探索构建具有"影响滞后"机制的前移回归模型预测方法。研究结果:在对福建省的实证分析案例中,上述方法运用效果较好,模型输出的预测数据及所作的驱动机制分析可为该省今后的种植业生产规划、农业土地规划与决策提供参考。研究结论:协整理论与前移回归方法的有机结合,可为区域耕地资源变动预测及驱动机制研究提供一种有效的工具。     

The performance of insolvency prediction and credit risk models in the UK: A comparative study

Theoretically-driven, market-based contingent claims models have recently been applied to the field of corporate insolvency prediction in an attempt to provide the art with a theoretical methodology that has been lacking in the past. Limited studies have been carried out in order directly to compare the performance of these models with that of their accounting number-based counterparts. We use receiver operating characteristic curves to assess the efficacy of thirteen selected models using, for the first time, post-IFRS UK data; and investigate the distributional properties of model efficacy. We find that the efficacy of the models is generally less than that reported in the prior literature; but that the contingent claims models outperform models which use accounting numbers. We also obtain the counter-intuitive finding that predictions based on a single variable can be as efficient as those which are based on models which are far more complicated – in terms of variable variety and mathematical construction. Finally, we develop and test a naïve version of the down-and-out-call barrier option model for insolvency prediction and find that, despite its simple formulation, it performs favourably compared alongside other contingent claims models.     

浅谈新形势下的高职院校设备管理工作

从设备的购置、转资、使用、维修和报废等5个环节入手,介绍了新形势下高职院校设备管理工作的一些经验做法,指出了加强设备管理人员培训的重要性。     

区域耕地数量变化预测方法的对比研究

研究目的:对区域耕地数量变化预测方法进行对比分析,科学合理确定区域耕地数量。研究方法:通过Pearson相关分析法筛选影响耕地变化的关键因子,利用改进的BP神经网络算法、灰色模型和多元线性回归模型法对费县耕地数量变化进行预测。研究结果:改进的BP神经网络算法相对传统的灰色模型和多元线性回归模型等预测方法具备较高的预测精度。研究结论:改进的BP神经网络算法是进行耕地数量变化预测的较好方法,具有实际指导意义,其预测结果可以为当地相关部门合理地确定耕地保有量、推进耕地保护提供科学依据。     

语域预测在听力教学中的应用

语域理论是系统功能语言学中的一个重要理论。系统功能语言学在语境下研究语域,语域和语境是互为预测关系。将语域预测应用到大学英语听力教学可以提高学生的语言意识和元语言能力,从而可以提高学生的听力理解水平。     

改革开放以来我国贸易条件的变动分析与预测

随着我国近几年来经济高速增长,产业结构的不断优化升级,在国际贸易问题上也遇到了许多新的问题。本文将以我国近年来我国制成品贸易以及我国商品贸易条件为研究对象,分析现阶段我国制成品贸易受商品贸易条件恶化和收入贸易条件变化改善的影响,同时对未来两年的商品贸易条件和收入贸易条件以及制成品的出口变动情况进行分析与预测。     

浅议对安全生产风险管理体系建设的认识

本文主要是认识安全生产风险管理体系建设工作的必要性和重要性,落实责任与资源。旨在交流探讨如何抓住关键环节,推动体系工作,如何结合实际,全员参与,不断总结、持续改进进一步提高电力建设安全生产管理水平。     

谈高压配网输变电工程可研阶段系统规划设计收资

文章就高压配网输变电工程可研阶段的系统规划设计收资情况作简要的分析，并通过工程实例，罗列出进行系统规划设计前所需要收集的大量数据及收资方法，以供同行参考。     

金融危机研究模型与预测问题研究

本文回顾了金融危机形成理论的研究方法和研究模型,发现这些模型有两个重要的缺陷:即脱离了危机前宏观经济恶化的实际,同时把政府在经济恶化后的经济政策外生于模型之外,从而导致了危机理论只能解释危机而无法形成正确的预测。本文认为金融危机是市场缺陷在宏观经济恶化条件下的放大,是不适当的宏观经济政策的必然结果,现代金融条件下金融体系的脆弱性增加了金融危机爆发的频次和危害性。