What is the major determinant of cross-border banking flows?

This study examines the major determinant of cross-border credit flows through global banks across 70 countries. Employing a Bayesian dynamic latent factor model, we decompose volatilities of banking flows into the contribution of a global common factor, regional common factor, and country-specific factor. The results indicate that the global and regional common factor explains about 40–50 percent of volatility in overall cross-border banking flows. In particular, the contribution of the global common factor increased in the 2000s. Simultaneously, main determinants are largely heterogeneous across countries: this implies that the desirable policy response to credit inflows may differ for each host country.     

Does employment before marriage exert autonomy after marriage? Evidence on female autonomy from India

This paper examines the determinants of female autonomy using data from India. We model female autonomy for movement as well as economic decision-making using a summative index approach. Our contributions to the literature include a careful examination of the regional differences, tests of economic and sociological hypotheses on female autonomy and the use of pre-marriage autonomy measures in terms of employment status to determine post-marriage autonomy. Our results suggest that economic, sociological and pre-marriage autonomy factors explain female autonomy. Regional differences regarding the economic, sociological and pre-marriage autonomy factors play a role in determining female autonomy.     

浅谈在C++教学中快速实现从结构到OOP程序设计思想的转变

本文从具备C语言基础的初学者在学习面向对象程序设计过程中所碰到的实际问题出发,通过对教学过程中遇到的问题进行反思,在如何使得学生快速的从结构化程序设计思想转化到面向对象程序设计思想这个比较难的问题上重新进行探讨,展示了实例操作教学法、问题驱动教学法在面向对象程序设计教学过程中的一些具体运用,通过理论思考并结合自身的专业知识和教学经验找到一种比较新颖而且行之有效的教学方法。     

News shocks or parametric indeterminacy? An observational equivalence result in linear rational expectations models

This paper studies identification in linear rational expectations models with news shocks. We show that news-driven models and indeterminate equilibrium economies with i.i.d. fundamentals are observationally equivalent. This finding calls for carefully designing empirical investigations of news shocks in estimated DSGE models.     

Income distribution and inequality measurement: The problem of extreme values

We examine the statistical performance of inequality indices in the presence of extreme values in the data and show that these indices are very sensitive to the properties of the income distribution. Estimation and inference can be dramatically affected, especially when the tail of the income distribution is heavy, even when standard bootstrap methods are employed. However, use of appropriate semiparametric methods for modelling the upper tail can greatly improve the performance of even those inequality indices that are normally considered particularly sensitive to extreme values.     

Properties and estimation of asymmetric exponential power distribution

The new distribution class, Asymmetric Exponential Power Distribution (AEPD), proposed in this paper generalizes the class of Skewed Exponential Power Distributions (SEPD) in a way that in addition to skewness introduces different decay rates of density in the left and right tails. Our parametrization provides an interpretable role for each parameter. We derive moments and moment-based measures: skewness, kurtosis, expected shortfall. It is demonstrated that a maximum entropy property holds for the AEPD distributions. We establish consistency, asymptotic normality and efficiency of the maximum likelihood estimators over a large part of the parameter space by dealing with the problems created by non-smooth likelihood function and derive explicit analytical expressions of the asymptotic covariance matrix; where the results apply to the SEPD class they enlarge on the current literature. Also we give a convenient stochastic representation of the distribution; our Monte Carlo study illustrates the theoretical results. We also provide some empirical evidence for the usefulness of employing AEPD errors in GARCH type models for predicting downside market risk of financial assets.     

C8051Fxxx单片机与GPS-OEM板数据通信的实现

讨论了读取GPS-OEM板定位数据的方法,以Itrax02为例讨论了GPS-OEM板的组成和特点,分析了NMEA-0183语句的数据格式及信息组成,并结合硬件特点研究了C8051Fxxx单片机实现GPS定位信息提取问题,并给出了单片机提取GPS定位信息有关的程序源代码.     

C8051F020单片机及其在双频激电仪中的应用

文章通过分析双频激电仪中存在的缺陷,引入了美国Cygnal公司推出的C8051F020单片机,并对该单片机的功能和特点进行了应用性探讨,给出了在双频激电仪中采用C8051F020单片机的系统设计构成。     

Sources of the great moderation: A time-series analysis of GDP subsectors

Recent work finds evidence that the volatility of the U.S. economy fell dramatically around the first quarter of 1984. We trace the timing of this so-called “Great Moderation” across many subsectors of the economy in order to better understand its root cause. We find that the interest rate sensitive sectors generally experience a much earlier volatility decline than other large sectors of the economy. The changes in Federal Reserve stabilization policies that occurred during the early 1980s support the view that an improved monetary policy played an important role in stabilizing real economic activity. We find only mild evidence that “good luck” was important and little evidence to support the claim that improved inventory management was important.     

A semiparametric panel model for unbalanced data with application to climate change in the United Kingdom

This paper is concerned with developing a semiparametric panel model to explain the trend in UK temperatures and other weather outcomes over the last century. We work with the monthly averaged maximum and minimum temperatures observed at the twenty six Meteorological Office stations. The data is an unbalanced panel. We allow the trend to evolve in a nonparametric way so that we obtain a fuller picture of the evolution of common temperature in the medium timescale. Profile likelihood estimators (PLE) are proposed and their statistical properties are studied. The proposed PLE has improved asymptotic property comparing the sequential two-step estimators. Finally, forecasting based on the proposed model is studied.