Liquidity risk and policy options

On the basis of a liquidity management model, liquidity risks, defined as the probability of payment failures in a real-time gross settlement (RTGS) payment system, may either stem from liquidity management inefficiencies or insufficient cash balances. I will show that penalties charged on the amount of payment failures minimise liquidity risks without interfering with the bank’s technology preferences. I will instead show that liquidity requirements, although as effective as penalties to contain the risk of liquidity shortage, may distort the bank’s technology preferences and cannot stem liquidity management inefficiencies. I will also show that liquidity risks within RTGS payment systems are potentially smaller because they depend more on the liquidity management efficiency than on the randomness of cash inflows and outflows.     

Connecting National Safety Nets: The Dialectics of the Basel II Contracting Process

Basel II consists of supervisory guidelines negotiated by representatives of central banks and national regulatory commissions that were members of the Basel committee on Banking Supervision (BCBS). The BCBS is itself a regulatory response to globalization, which is connecting national safety nets in market-driven ways. A country’s financial safety net is a social contract established by short-lived agents for principals in long-lived economic sectors. Restraints placed on the authority of the BCBS members to contract for their principals by domestic politics explains: why Basel II authorizes individual countries to implement the agreement in markedly different ways; why US implementation of Basel II ran into so much doubt, controversy, and delay; and how the implementation debate set small and large banks and the Federal Reserve and other federal regulators against one another.

证券市场监管理论——公共利益论、部门利益论的比较与评述

对经典的监管理论,尤其是对公共利益论、部门利益论与捕获论形成的背景、内涵、优缺点、适用条件进行了完整的比较分析,认为这些理论观点对监管的研究和监管实践有着重要的指导意义,但每一种理论都是对监管的某一方面进行的研究,还没有一种理论能够对证券市场监管的所有问题做出满意的解释。要提高我国证券市场监管的效果,需要从整体上运用这...     

暗河发育区岩溶隧道突涌水洪峰流量估计

地下暗河是岩溶隧道建设与运营重大的安全风险,暗河发育区岩溶隧道突涌水洪峰估计是岩溶隧道施工抢险与后期处治方案制定的重要基础数据。地下暗河洪峰流量不仅由岩溶区水文地质条件控制,而且还受到暴雨期地表径流补给的影响。本文结合实测数据和统计数据,围绕小流域暴雨资料推求出地表汇流洪峰和地下暗河汇泄流洪峰,提出了一种考虑地表径流补给的暗河发育区岩溶隧道突涌水洪峰估计方法,并结合翠屏隧道的地形地貌、水文地质与实测涌水资料,开展了案例分析计算并比较实测涌水量。表明传统涌水预测方法无法考虑暗河与地表水补给的影响,与实测结果差距很大,本方法能够较好预测岩溶区因地表汇水补给暗河发育区隧道突涌水洪峰,为隧道防洪护堤高度、涵管过水容量设计、洪峰避险时间提供重要支撑,保障隧道施工与运营安全。     

哈尔滨市土地利用现状及存在问题

主要讨论了哈尔滨市土地利用的基本规律和特点．并针对其土地利用的现状提出了看法。     

宽松的环境政策能吸引更多的外商直接投资吗——基于中国工业省级面板数据的分析

利用我国1997~2009年的工业省级面板数据和动态面板GMM估计方法,考察了相对宽松的环境政策是否是吸引FDI的主要原因。研究发现,环境政策较宽松的地区能够吸引更多的外资流入,但这种影响并不大,所以,以降低环境标准、牺牲环境为代价来吸引FDI不是明智之举;与东、中部地区相比,西部在吸引FDI上处于明显劣势,这在一定程度上加剧了我国经济结构的失衡。     

Changes in tourists’ perception of well-being based on their use of emotion regulation strategies during vacation

ABSTRACT

Based on the theoretical foundation of emotion regulation, this exploratory study aimed to examine changes in tourists’ perceived well-being and to determine whether these changes were due to use of emotion regulation strategies (ERSs) during their vacation. This study used travel diaries to record tourists’ use of ERSs on a daily basis, and also measured tourists’ perceived well-being one day before and after their vacation. Results indicated that tourists had significantly higher perceptions of well-being after vacation, and those who used ERSs were more likely to indicate a higher sense of well-being after vacation. The results provide new insight into which aspects of tourists’ subjective and psychological well-being can be boosted by taking vacations and how these aspects may be enhanced by using different ERSs.     

Unethical use of wildlife in tourism: what's the problem,who is responsible,and what can be done?

Wildlife tourism is a huge global market, the revenue from which can promote local livelihoods and tourist education, enact conservation, and improve animal welfare. Such benefits arise if wildlife tourist attractions (WTAs) prioritise ethical deliverables above financial profit, but recent work has shown that the majority of WTAs have substantial negative animal welfare and conservation impacts. In the absence of global regulatory authorities, tourist revenue has become the ultimate arbiter of what constitutes acceptable use of animals in WTAs. Tourists, however, are not adequate assessors of WTAs’ animal welfare and conservation impacts: they lack the specialist knowledge required and are subject to a number of psychological biases that obscure the ethical dimensions of decisions to attend particular WTAs. This inadequacy is evidenced, and compounded, by overwhelmingly positive reviews on TripAdvisor (the industry-leading review site), even for WTAs with objectively poor ethical standards. Our suggested solution is to empower tourists by presenting unequivocal assessments of WTAs' animal welfare and conservation impacts, hosted in the fora that tourists already use to make their travel decisions. We would thereby promote a subjective norm that tourists should consider and limit their individual negative impacts when choosing which WTAs to visit.     

土坝漫顶后冲沟网形成模拟

根据土坝漫顶后冲沟网形成的特点,建立了能够模拟土坝漫顶后冲沟网形成的元胞自动机模型。在元胞自动机模型中采用坡降模式模拟水流运动,采用冲刷率公式模拟坡面冲刷,确定了坡面径流和坡面冲刷规则。在计算中考虑了地形随机起伏变化和坡面抗冲性能差异2个影响因素,得出不同因素对冲沟网形成的影响。结果表明:单一考虑地形随机起伏变化形成的冲沟网较顺直,综合考虑2个方面影响的计算结果比较合理。     

黄河下游防洪调度决策的流程与目标

开发黄河防洪决策支持系统必须首先明确防洪调度决策的目标和流程，防兴调度决策的一般流分情报预报，预报分析，方案制作了方案运作４个阶段，决策的目标主要有：各份蓄洪工程的实时计度方案，防洪工的防过抢护方案，灾情估算，滩区，库区，分滞洪区的迁移安装置方案以及决策指令的下达等。本根据黄河下游不同级别洪水（中常洪水，大洪水，超标准洪水等）的处理原则和方案，指出了相应的高度决策目标。