Analytical Solutions for Expected Loss and Standard Deviation of Loss with an Additional Loan

We evaluate the expected loss and the standard deviation of loss of a bank loan, considering the bank’s strategic control of the expected return on the loan. Assuming that the bank supplies an additional loan to minimize the expected loss of the total loan, we provide analytical formulations for the expected loss and the variance of loss with bivariate normal distribution functions. Using a given expected growth rate and interest rates, two thresholds for the asset/liability ratio can specify three cases. The bank supplies an additional loan to decrease the expected loss in two cases: (i) the asset/liability ratio of the firm is low, and its expected growth rate is high; and (ii) the asset/liability ratio of the firm is high, and the lending interest rate is high. The bank maintains the current loan amount when the asset/liability ratio lies between the two thresholds. Depending on the bank’s strategy, the bank can decrease the initial expected loss of the loan. Conversely, the bank would face a greater risk of the standard deviation of loss.     

江浙沪二省一市银行结算账户及资金往来分析

江浙沪两省一市作为地域相连、文化相近、结构互补的较为完整的城市经济区域,是我国经济发展的重心区,并将继续对我国未来的经济发展产生越来越大的影响。本文试图通过采用人民币银行结算账户管理系统及支付管理信息数据,对江浙沪二省一市银行结算账户流入流出、单位存款人的行业归属及资金往来情况进行实证比较分析,来提出推动长江三角洲地区金融一体化的决策依据。     

进一步完善企业所得税优惠政策

本文通过对现行企业所得税优惠政策存在的问题进行研究分析,提出了完善促进高新技术产业发展、扶持中小企业发展、促进就业再就业等税收优惠政策的若干建议。     

对云南省执行企业所得税优惠政策的调查与思考

从云南省执行企业所得税优惠政策的实践可以看出,在经济欠发达区域,税收优惠政策的作用尚未有效发挥,存在着一些影响政策运行的现实问题。据此,本文提出了完善企业所得税优惠政策的思路及建议。     

当前宏观经济形势与2004年的比较与思考

当前,国内外经济形势错综复杂。文章通过对近期和2004年中国宏观经济形势的比较,分析其中的异同,以厘清未来走势,并为宏观调控提供借鉴。两个时期部有一些相同点：中国经济从低谷走出,乐观情绪升温,房价骤涨,通胀开始抬头,中国跟随世界进人新一轮加息周期,人民币升值压力不断加大。两者不同点是：当前货币增长速度远远快于2004年。贸易顺差更大,信贷和财政状况逊色。未来,预计CPI回升势头更快,央行面临回收流动性的压力更大,贸易摩擦加剧,中美息差可能进一步扩大,人民币的升值压力将加大。     

Im/Ex in December 2009： Witness Strong Pickup

On January 10, 2009, General Administration of Customs of the People＇s Republic of China released the profile of China foreign trade import and export in December 2009 and the whole twelve months of thisyear. The statistics from customs show that,     

外国企业技术转让营业税减免存在的问题及对策

从1999年起,国家针对外国企业技术转让陆续出台了一系列营业税优惠政策。本文从近几年的操作实际出发,详细阐述了目前外国企业对华技术转让的现状和主要形式,指出了减免营业税政策执行中存在的问题,并对如何改进和完善提出了建议。     

马来西亚税收制度概况

近年来,马来西亚对国内税收制度进行了彻底的改革,形成了比较独特的税收制度。本文对马来西亚的税制结构、主体税种和税收征管进行了介绍和分析,其中一些经验可为我国新一轮的税制改革提供一定的借鉴作用。     

Relative Deprivation and School Enrolment. Evidence from Mexico

Using a large dataset (2.9 million households), we provide solid evidence of relative deprivation as being a negative correlate of school enrolment in Mexico, absolute standard of living being controlled for. This result is robust to a number of specifications, and to the use of linear and less than linear indices of relative deprivation. In addition, we find that marginal effects of relative deprivation are stronger at higher standards of living and for older children.