INTERNATIONAL RESERVE MANAGEMENT: A DRIFT‐SWITCHING REFLECTED JUMP‐DIFFUSION MODEL

We study the cost of shocks, that is, jump risk, with respect to reserve management when the reserve process is formulated as a drift‐switching jump diffusion with a reflecting barrier at 0. Inspired by the Brownian drift switching model, our model results in a more realistic dynamic behavior of international reserves than the buffer stock model. The new model can capture both the jump behavior in reserve dynamics and the leptokurtic feature of the increment distribution which has a higher peak and two asymmetric heavier tails than the normal distribution. Through the selection of an initial distribution that reflects certain steady state behaviors, the reserve process becomes a regenerative process. This selection enables us to derive a closed‐form expression for the total expected discounted cost of managing reserves, thus helping us to numerically find management strategies that minimize costs. The numerical results show that shocks at the reserve level have a significant effect on reserve management strategies and that model misspecification can result in nonnegligible additional costs.     

严监管背景下农信社合规风险管理体系建设

2018年,银行业监管环境进一步趋严,不但强调对银行的监管,更提出了对监管人员职责的监管,这种严格的外部监管环境对农信社的合规风险管理带来了极大的挑战。农信社合规风险管理体系的建设和完善已势不容缓。论文提出了农信社合规风险管理体系建设要从战略定位、文化渗透、防线搭建、专业专职化、考核和追究六个维度入手,推进合规风险管理长效机制的建设。     

企业内部会计控制工作初探

阐述了成熟市场经济国家内部会计控制的发展过程,分析了我国企业内部会计控制存在的问题,提出了加快发展我国企业内部会计控制的6条对策。     

我国移动电子商务发展中的问题及对策思考

近年来移动电子商务在我国发展非常迅速,但也暴露出很多问题,如人才匮乏、移动通信技术限制、业务经营不规范、企业信息化水平低等.对此,政府应该加紧人才培养,构筑健全的移动电子商务人才体系;加快移动网络设备和终端设备的升级换代;完善和出台相关的法律制度,规范移动业务市场;加快企业的信息化进程,为移动电子商务的进一步发展,创造良好的环境.     

试论对西方道德文化遗产的批判和继承

西方道德文化遗产的精华与糟粕糅合在一起,瑕瑜互见,良莠混杂.批判地继承西方道德文化遗产,不仅是人的全面发展、社会进步的要求,更是我国社会主义市场经济的客观要求.在构建社会主义道德规范体系时,应正确对待西方道德文化遗产,取其精华,去其糟粕,并促使其向现代转换.     

我国科技奖励评审制度的法律思考

我国科技奖励制度的法律基础是宪法规定的,科技活动的广泛性、专业性、复杂性要求科技奖励的评审制度在内容上应体现高度的科学性、公正性和权威性,在形式上应集中突显制度化、规范化和程序化.我国现行科技奖励评审制度及立法现状还存在一些问题,完善我国科技奖励评审制度应建立健全法律保障体系,评审过程必须体现社会公认的道德观念和法律规范,对现行的评审体系及评审方法进行改革.     

An exceptional development pattern

This paper investigates India's exceptional development pattern, specifically the major importance of information technology services (ITS), and compares it with China's development pattern. Both countries want to develop capabilities for carrying out the innovation of technologies that compete at the state-of-the-art in the world market. The paper posits that technological/economic success in the contemporary world market requires the ability to innovate complex technologies and complex technology-related services. The share of trade represented by complex technologies is compared with the “high-tech” share. The trading patterns of the two countries are compared using United Nations data. Two case studies of Indian ITS companies are then compared with two case studies of Chinese manufacturing companies. Historical and cultural differences appear to explain some of the differences in the development patterns of the companies located in the two countries.     

论全面推进农村小康社会建设

我国新世纪“全面建设小康社会”的奋斗目标和纲领,是邓小平“小康”思想的进一步丰富和发展。从目前的经济发展和人们生活水平来看,离全面建设小康社会目标最远的主要是农民,全面建设小康社会的重点和难点在农村。在我国农村,全面建设农村小康社会应从政治、经济、文化和可持续发展等方面全面推进。     

对陕西省农村社会养老保险供求主体的分析与政府作用研究

陕西是西部的农业大省,农村社会养老保险制度发展缓慢,农村养老保险市场需要寻找供需双方的均衡点,政府作为制度的提供者和政策的制定者,必须在农村社会养老保险制度建立和运营中明确思路,发挥主导作用,以保证陕西省农村养老保险健康、有序地发展。     

经管类高职院校产学研结合的途径探析

产学研结合是高等职业教育发展的必然.进行产学研结合对培养应用型人才、提高教师素质和完善专业建设都有着重要意义.经管类高职院校可以从办学模式、教学活动、服务咨询、参与企业生产经营等方面开展产学研结合工作.