Investigating young adults' use of Internet credit services: A reflective-impulsive dual-process model

While Internet credit services are proliferating fast, they bring serious debt problems, especially to young adults, and further result in negative psychological and social issues. The present study aims to investigate the influential factors underlying the usage of Internet credit services among young adults. Particularly, a dual-process model is proposed by integrating both the reflective and impulsive decision-making process. While the reflective process is modelled based on the theory of planned behaviour, the impulsive process is manifested by examining the antecedents of impulse to use Internet credit services, including immediate gratification, materialism, and self-control. A survey was administered among young adults and 992 valid questionnaires were collected. PLS-SEM methods were applied to analyse the data. It was revealed that the reflective decision-making process exerts significant influence on young adults' usage of Internet credit services, and the impulsive process plays important role in impacting people's usage of Internet credit services among the lower income group. In addition, immediate gratification and materialism were found to positively affect the impulse to use, whereas self-control was identified as an inhibitor of impulse to use Internet credit services. Implications of the finding are discussed at the end of the paper.     

Twitter’s daily happiness sentiment,economic policy uncertainty,and stock index fluctuations

This research applies quantile Granger causality and impulse-response analyses to evaluate the causal linkages among Twitter’s daily happiness sentiment, economic policy uncertainty (EPU), and S&P 500 indices across the U.S. stock market cycles. We present notable evidence of bi-directional causality among cyclical components of Twitter’s daily happiness sentiment, economic policy uncertainty, and S&P 500 indices for most quantiles. The causal linkage of Twitter’s daily happiness sentiment and S&P 500 indices identified in this study reconciles the so-called Easterlin Paradox and Easterlin Illusion arguments from previous studies on income-happiness relationship. Moreover, given a high (low) EPU level, the positive (negative) impulse-response effects between the Twitter’s daily happiness sentiment and the S&P 500 indices are justified during a stock market bust cycle, but the signs of these correlations change to negative (positive) during a stock market boom cycle. These findings imply that investors’ hedging strategies can be linked to the surveillance of the Twitter’s daily happiness sentiment index.     

Identifying the effects of sanctions on the Iranian economy using newspaper coverage

This paper focuses on the identification and quantitative estimation of sanctions on the Iranian economy over the period 1989–2019. It provides a new time series approach and proposes a novel measure of sanctions intensity based on daily newspaper coverage. In absence of sanctions, Iran's average annual growth could have been around 4–5%, as compared to the 3% realized. Estimates of the proposed sanctions-augmented structural VAR show that sanctions significantly decrease oil export revenues and result in substantial depreciation of Iranian rial, followed by subsequent increases in inflation and falls in output growth. Keeping other shocks fixed, 2 years of sanctions can explain up to 60% of output growth forecast error variance, although a single quarter sanction shock proves to have quantitatively small effects.     

近距离无线电台邻道干扰的功率谱解析

指挥控制系统的无线通信设备数量多、工作频率范围窄，相互之间存在严重的邻道干扰。针对近距离电台间邻道干扰问题，提出了基于功率谱解析的分析方法。首先理论推导了信号原功率谱密度函数与展宽延拓后功率谱密度的严格数学关系，在此基础上研究邻道干扰产生机制，进而分析不同邻道的干扰强度，得到了邻道功率与频率之间的关系式，推导了进入接收机的信干噪比（SINR）；最后，通过仿真验证了所提出的分析方法的可行性。理论计算与仿真结果相差在0.5 dB以内，为进一步有效规划指控系统频谱和提高利用效率提供了重要依据。     

基于信干噪比的D2D通信功率控制与资源分配

为了优化长期演进(LTE)系统引入设备直传(D2D)通信后带来的同频干扰、系统边缘用户性能恶化问题，提出一种基于信干噪比(SINR)的多小区D2D通信资源分配方案，通过调整信干噪比阈值将部分蜂窝用户(CU)转化为D2D用户并释放频谱资源进而获得较佳的资源分配策略，同时提出一种基于小区间D2D竞争机制的配置算法有效降低小区间干扰。仿真表明，算法能够有效提升系统容量，并提升小区边缘D2D用户公平性。     

脉冲超宽带测控信号时延精密跟踪方法

脉冲超宽带测控新体制可有效提高测控系统的安全性能，且具有潜在的高精度测距能力。为了实现其高精度测距功能，提出了一种基于延迟锁定环路的脉冲超宽带测控信号时延精密跟踪方法。该方法在传统伪码跟踪环的基础上进行改进，利用基于非相干积分的非线性反馈环路对接收信号的脉冲相位进行精密跟踪。理论分析和仿真结果表明，该延迟锁定环路可以完成对脉冲超宽带测控信号的时延精密跟踪。与直扩测控信号相比，在相同条件下，脉冲超宽带测控信号的时延跟踪相对误差更大，但由于脉冲宽度很窄，在一定载噪比条件下，其测量精度仍可达厘米量级甚至更高。     

我国货币政策调控对产出和通胀影响的水平效应和波动率效应研究——基于VAR模型和局部投影模型冲击反应函数的实证分析

在“三重压力”下，我国货币政策调控要实现“稳增长”和“防通胀”在水平值和波动率上的“双重稳定”,既要保持适度经济增速，又要防止通货膨胀快速上升，还要防止产出和通胀波动形成的经济风险。为此，文章使用了局部投影方法和VAR模型方法计算了数量型和价格型货币政策的冲击反应函数，以此刻画货币政策对产出增长率和通货膨胀率的水平值和波动率的动态效应。实证结果表明，数量型货币政策对经济增长率和通货膨胀率均具有水平值上的显著正向效应，同时具有降低产出波动而提升通胀波动的冲击效应；价格型货币政策也对经济增长率和通货膨胀率具有显著正向效应，同时具有降低产出波动率和通胀波动率的双重稳定功能。因此，当前货币政策操作仍然要以价格型货币政策为主，以此实现货币政策逆周期和跨周期调控功能。     

Co-movement among oil,stock, bond,and housing markets: An analysis of U.S., Asian,and European economies

This study explores the co-movement among oil and the stock, bond, and housing markets of the U.S. and major developed countries across Europe and Asia. The results indicate that oil is long-run integrated with each asset class, and that the extent of convergence has increased after the onset of the 2007–2009 global financial crisis (GFC). Moreover, oil contributes most heavily toward the common trends, implying that oil is the “leader” sector that drives each asset class toward long-run equilibrium relationships. Short-run analyses indicate that oil shocks induce a negative response in stock and housing returns and a positive reaction in bond returns, showing a tendency to become more intense and persistent after the GFC. When oil shocks are disentangled, the results indicate that supply and demand have heterogeneous effects on the three global asset classes. Over the long-run, demand shocks make the most significant contribution to the common trends and “lead” the other asset classes, whereas supply shocks have either a negligible or a weaker impact. Over the short-run, demand shocks positively impact the stock and housing markets and negatively impact bonds, while supply shocks induce negative and weaker impacts on all three asset classes.     

A new unique impulse response function in linear vector autoregressive models

This article proposes a new unique impulse response function (IRF) measure, or MIRF, based on the popular vector autoregressive model to study interdependency of multivariate time series. Same as the orthogonal IRF, the estimator of MIRF has an analytical form with well-established asymptotics, and is invariant to ordering of series. Compared to alternative unique IRF measures, MIRF does not depend on extreme identifications, and the associated forecast error variance measure is explainable. An illustrative empirical example is also provided.     

阵列处理器中改进几乎空白子帧算法的并行化实现

两层异构网络中出现的小区间干扰协调是当前异构网络干扰问题研究的热点。针对软件实现增强小区调度几乎空白子帧(ABS)的干扰方案存在处理数据量大、速度慢的缺点，基于可重构阵列结构提出了一种动态ABS干扰协调的并行化硬件实现方案。该算法在增强小区内根据用户数动态分配ABS比例，以改善小区边缘用户的信道容量，通过流水线的方式使用多个轻核处理元(PE)实现并行计算以提高运算效率。测试结果表明，使用12个PE同时调度实现算法的映射，运行1 983个周期，其性能比单个PE提升77.03%，该算法的并行计算能力得到显著提升，宏基站用户的吞吐量可以达到4.76 Mbit/s。