乘积型指数滤波器及其在多目标时延估计中的应用

指数滤波器是一类新构造出来的输出信噪比和目标时延分辨力随指数变化的滤波器，该滤波器在损失一定输出信噪比的前提下可以有效提高目标时延分辨力，从而提高目标时延估计精度,但仅采用单个指数滤波器仍存在输出信噪比和目标时延分辨力均达不到实际需求的情况。在乘积型高阶模糊函数乘积运算的启发下，在指数滤波器的基础上提出了一种新的乘积型指数滤波器，并分析了该乘积型指数滤波器的输出信噪比及目标时延分辨力等性能。仿真实验表明，所提的乘积型指数滤波器在低信噪比情况下可以更有效提高多目标时延估计精度，且算法简单易于实现，适用于背景复杂的多目标参数估计任务。     

Time,Arbitrage, and the Law of One Price: The Case for a Paradigm Shift

Consider a Competitive, Efficient, and Frictionless Economy (CEFE) where resources are scarce at any date, and hence money as a valid claim against scarce resources is also scarce. In this economy, there is always price competition, which can at any date generate an unlimited number of arbitrage opportunities. For example, at any date, opportunities can exist to buy and sell each one of the contracts for delivery of the same good or asset at multiple prices currently as well as on an infinite number of future dates. I prove all arbitrage transactions, including “spot” transactions, tie up arbitrageurs’ capital representing money, good or asset such that this capital cannot be used for any other purpose for a non-zero quantity of time. This makes it impossible to exploit all arbitrage opportunities with the scarce capital available at any date and leads to an infinite number of unexploited opportunities and a non-negligible opportunity cost of the capital tied-up in arbitrage transactions, represented by each arbitrageur’s best missed arbitrage opportunity, if no better opportunity exits, hence the breakdown of the law of one price in its standard sense. This helps construct a new paradigm of CEFE which resolves long-standing theoretical, empirical, and experimental puzzles.     

一种一维距离像的识别算法

随着高分辨率雷达的发展,一维距离像识别已成为雷达目标识别的重要方法之一.为了消除一维距离像的平移,将一维距离像变换到频域,提取其频谱信息作为识别特征,并依据Fisher判据,将高维特征空间数据降到一维空间,提高了算法的实时性.仿真结果表明这是一种方便有效的识别方法.     

码分无线射频识别系统空中接口协议设计及性能分析

为进一步提高无线射频识别系统单个读写器识别电子标签的速率,设计了一种将码分与统计时分技术相结合的新型无线射频识别系统的空中接口协议,并分析了系统的抗噪声性能、识别速率等主要性能指标。仿真结果表明,新型无线射频识别系统在抗噪声性能和识别速率等方面均优于基于现有国际标准ISO/IEC 18000-6C的无线射频识别系统。     

论区域金融风险的防范与化解

区域金融风险作为一种客观经济现象,其产生既有金融业自身的原因,也有金融业之外的原因。应该从建立区域金融风险预警系统、建立和完善金融机构内部风险控制体系、改进区域内金融监管机构对区域金融风险的监控水平、强化区域内金融机构的行业自律、改善防范与化解区域金融风险的外部环境等方面入手,对区域金融风险进行有效的防范与化解。     

The effects of resolution methods and industry stress on the loss on assets from bank failures

In this paper, we examine how the value of failed bank assets differs between two types of FDIC resolution methods: liquidation and private-sector reorganization. Our findings show that private-sector reorganizations do not deliver the expected cost-savings from 1986 to 1991, a period of industry distress. On a univariate basis, the net loss on assets is lower for a private-sector reorganization than for a liquidation in both a period of industry distress and of industry health. However, institutions with higher quality assets and higher franchise values are more likely to be resolved using a private-sector resolution. Once we control for this selection bias, we find that institutions that are resolved during periods of industry distress result in higher resolution costs than liquidation. During periods of industry health, private-sector resolutions are less costly than liquidations. We show that if a bank that failed during the post-crisis period instead failed during the crisis period, its net loss as a percent of assets would have been 3.232 percentage points higher. Given that the average net loss on assets ratio is 21.42 percent during our sample period from 1986 to 2007, the increase in costs is economically significant.     

Macroeconomic Announcements and the Distribution of Price-Endings in the U.S. Treasury Market

We investigate how new information impacts quote clustering in the bond market. We find that clustering, along with quote activity, price volatility and bid-ask spreads, increases sharply in the minutes following releases of macroeconomic news. Each returns to near-normal levels within the hour. Effects are strongest for more liquid on-the-run notes and for the announcements typically associated with substantial information flow. The strong positive comovement of clustering, quote activity, price volatility, and bid-ask spreads supports the conclusion that innovations of these variables are endogenous to the arrival and incorporation of information into prices.     

Too Good to be True? An Analysis of the Options Market's Reactions to Earnings Releases

Using option implied risk neutral return distributions before and after earnings announcements, we study the option market's reaction to extreme events over earnings announcements. While earnings announcements generally reduce short‐term uncertainty about the stock price, very good news does not reduce uncertainty and slightly bad news actually increases uncertainty. We also find that left tail probabilities decrease over earnings releases while right tail probabilities increase. We interpret these findings as evidence of maintained investor expectations that very good news is generally not released during earnings announcements, combined with skepticism in the form of lingering uncertainty at the release of such very good news.     

DEM在土地整理项目方案设计中的应用

在土地平整的规划设计工作中,平整区域的选择受人为判断的影响较大,使得平整区域的大小和工程量不够客观。为此从工程实际应用出发,研究了利用土地整理测量数据生成的DEM特点,综合坡度信息,采用水文分析算法分析土地整理项目区域中自由水流的运动方向,为土地平整工作中合理划定平整范围,检查农田水利渠道布局提供新的思路,并利用已有项目资料验证了平整范围划分方法的可行性。     

GPA框架下的美国政府采购争议解决机制研究

政府采购争议解决机制是保障政府采购制度的透明度和公正性的重要程序设置。文章从WTO《政府采购协议》（GPA）有关争议解决程序的规定出发,详细解读了美国政府采购活动中给予利益相关方的各种救济权利,包括向采购机构提出异议、向政府责任办公室提出申诉、向联邦索赔法院提起诉讼等,对我国修订《政府采购法》相关规定具有借鉴价值。