简介：Thispaperexaminestherelationshipbetweenstockmarket(KSE-100),moneymarket(M2and180daysT-billrate),andforeignexchangemarket(ER:PKR/USD)inPakistanbyusingmonthlydatacoveringtheperiodfrom2000:M1to2015:M12.Thestudyinvestigateslong-runequilibriumrelationshipbetweenthesethreefinancialmarketsbyemployingJohansenandJuselius[1]cointegrationtests.Long-runandshort-runcausalityrelationshipbetweenstockmarketandothermacroeconomicvariablesisalsoestablishedbyemployingvectorerrorcorrectionmodel(VECM)andpairwisegrangercausalitytests.Theresultsofmultivariatecointegrationtest(tracetest)indicateaonecointegratingvector,andthesignificantnormalizedcointegratingcoefficientsareevidentoflongrunequilibriumrelationshipbetweenalltheselectedvariables.NegativeandsignificantECT(-1)forallvariablesduringfullsampleperiodwitnessthepresenceoflong-runcausalityconnectionamongvariables,whileduringthemilitaryregimeanddemocraticregime,significantdifferenceoflong-runcausalconnectionsareidentifiedacrosstheregimes.Moreover,theresultsofgrangercausalitytestalsoindicatethattherearesignificantvariationsinthecausalityrelationshipamongvariablesacrosstheregimes.Therefore,itisessentialforforecasting,planningandpolicymakingtoconsidertheimportanceofpoliticalgovernancesystemwhileanalyzingthehistoricalcointegrationamongfinancialmarketandmakethenecessaryadjustmentsaccordingly.

简介：(1)RareearthpriceindexRareearthpriceindexincreasedatfirstbutfellduringtheendofDecember2016.Itgrewfrom115.3tothehighestof118.5andthenfellto116.8atthemonthend.(2)Yttrium-mediumandeuropium-richmineralListedpriceofyttrium-mediumandeuropium-richmineralsaveraged195,000yuan/toninNovember,maintainingflatsincethebeginningof2016.However,therealdealpricewasfarlowerthanthelistedone.

简介：Pricesofsomerareearthproductsbegantorisesincethebeginningof2017.ThethirdroundofnationalstockpilingendedonMarch28withbothquantityandpricehigherthanthesecondround.Thus,itsupportsthepricerisingofmostrareearthproducts.Especiallypriceofceriumoxideincreasedby10.10%month-on-month,leadingtherareearthmarket.

简介：Source:AssociationofChinaRareEarthIndustry1.RareearthmarketPricesofkeyrareearthproductsbegantopickupatthestartoftheyear.Overalllightrareearthoxidesprices,comparedwithayearago,grewduringthefirsthalfof2017.Mediumandheavyrareearthoxidesprices,however,weremixed.Pricesofdidymiumoxideanddidymiummetalincreasedlargely.

简介：Anewsituationhasemergedasaresultofglobalclimatechangefollowingthe'ParisAgreement',whichgivesrisetonewopportunitiesforcarbonmarket.Carbonmarketasamechanismtopromotelow-carbondevelopmenthasbeenexploredbothintheoreticalresearchandpracticalapplicationhomeandabroadforseveralyears.However,therearestillmanyproblemstosettle,suchasthepotentialuncertaintytodetermineanddistributetotalcarbonemissions,pricedistortionsinhigh-carbonproductsandservicesinthemarket,mainbodiesresponsibleforthecarbonemissioninurbaninfrastructure,etc.Allthesehaveformedaconstraintonthefurtherdevelopmentofcarbonmarket.Throughthehistoricalanalysisoftheactualdevelopmentofthecarbonmarket,thispapertriestoidentifypracticalproblemswhichshouldbesolvedurgently,andprovidesideasforChinatoestablishaunifiednationalcarbonmarketin2017,whichisnotonlythenationalmeasurestoparticipateinthe'ParisAgreement'actively,butalsotheimplementationofChina’ssustainabledevelopmentstrategy.

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简介：PriceofrareearthscontinuedtoriseinApril2017.Pricesofeuropiumoxide,terbiumoxideandholmiumoxideincreasedlargely,upby8.35%,8.3%and8.75%.TheoverallmarketcontinuedtorecoverduringJanuary~Aprilperiodandexportofrareearthproductsshowedasteadyincrease.Accordingto2017first-quarterearningsreleasedbytheendofApril,allofthesixbigrareearthgroupsreportedgainsduringtheperiod.

简介：1.RareearthmarketRareearthmarketkeepfallingdownslightlyrecently,forthecrackdownonrareearthblackindustrychainfurtherstandardizedthemarketorderandstabilizedrareearthprice.Intheinternationalmarket,Lynasreportedrecordproductionof1,442tonsofneodymiumandpraseodymium(NdPr)duringthequarter,whichwasup22.6%onthepreviouscorrespondingperiodandup

简介：Withtheincorporationofspatialstatisticmethod,thispaperconstructsastate-spacemodelofhousingmarketbubbles,discussingthespatialpatternofhousingmarketbubblesinChina,andidentifyingthedynamicevolutionprocess.Theresultsshowthat:Thebubblesofhousingmarketwalkedalongapathfromlowleveltohighlevelandthendownsizedtoalowlevelduringtheperiodof2009and2014,andthehighestlevelstayedat2011.Fromoverall,thelevelofhousingmarketbubbleshadshownsignificantspatialautocorrelationandspatialagglomeration.Indetail,thedirectionofNorth-SouthinChinashowedtheinvertedUshape,i.e.,Centralregionwaswithhighbubbles,andtwoendscontainedlowbubbles;fromEast-Westdirection,theEasthadhighbubblesandtheWestcontainedcomparativelylowbubbles.Localspatialtestindicatesthatthereweresomeapproximatespatialfeaturesinhousingmarketbubblesamongtheadjacentregions.Observedfromthelevelofhousingmarketbubbles,Chinacontained3plates:Thefirstwastheplatewithlowbubblelevel,including3provincesinNorth-EastChina(provincesofJilin,HeilongjiangandLiaoningwereincluded,butDalianinLiaoningprovincewasexcluded;thesecondwastheCentralandWestplate(theprovincesofYunnan,Guizhou,Sichuan,Guangdong,Guangxi,Hunan,Hubei,Gansu,Fujian,JiangxiandHainanwereincludedinthisplate),whichwasalsofeaturedwithlowbubble;andthethirdwasCentralEastplate(provincesorprovincialregionsofBeijing,Tianjin,Hebei,Jiangsu,Zhejiang,Shanghai,Shandong,Anhui,Shanxi,ShaanxiandInnerMongoliawereincluded),whichwascharacterizedashighbubbleregion.

简介：Source:AssociationofChinaRareEarthIndustry1.RareearthmarketPricesofrareearthproductscontinuedtoraiseinJune,especiallypricesofsamarium,europiumandterbiumproducts.RareearthmarketkeptreboundingfromJan.toJune,butexportofrareearthproductsdeclinedduringtheperiod.Astheendofthethirdroundofnationalstockpilingandthecontinuousofcrackingdownonillegal

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简介：Inthefinancemarket,riskhappenedintwopattern.Inonecase,extremevolatilitytogetherwithashortbalancetimeleadstoagreatpanictothemarket.Onthecontrary,ifthevolatilityissmaller,thetimeperiodwillusuallybelonger.Itwillbringmanyinfectionstovariousrelatedfields,whichcauseswiderrangeinfluencestotheeconomy.Bothcaseshurtfinancialmarketandtheeconomyitselfdeeply.Inthispaper,wedevelopedanovelmarketregulationmethodinwhichtheconflictoffluctuationtimeandvolatilitywillbebalanced.Itdescribesawaytocomputeaportfolioofrelativelyshorttimeperiodtogetherwithsmallerfluctuationvolatilitybyusingageneralpredictionalgorithmbasedonovershootincybernetics.Itcanalsogiveexplanationtocounter-cyclicalsupervisiontheoryandmacro-prudentialregulation.Furthermore,itcanprovidenumericaloperationguideforcountercyclicalsupervisiontheoryandmacro-prudentialregulation.

简介：Thegeneralizedautoregressiveconditionalheteroskedasticity(GARCH)typemodelsareusedtoinvestigatethevolatilityofBangladeshstockmarket.Thefindingsofthestudydemonstratethattheindexvolatilitycharacteristicschangesovertime.Thearticleshowsthatthedataaredividedintothreesub-periods:precrisis,crisis,andpostcrisis.Accordingly,theresultsofthefindingsindicatechangesintheGARCH-typemodelsparameter,riskpremiumandpersistenceofvolatilityindifferentperiods.Asignificant'low-yieldassociatedwithhigh-risk'phenomenonisdetectedinthecrisisperiodandthe'leverageeffect'occursineachperiods.Theinvestorsareirrationalwhichisbasedonassumptionofriskandreturncharacteristicsofassets.Consequently,themarketisnotasmatureasdevelopedmarket.Itisfoundinthearticlethatthethresholdgeneralizedautoregressiveconditionalheteroskedasticity(TGARCH)modelismoreaccurateforthemodelaccuracy.Additionally,statisticerrormeasurementsindicatethatGARCHmodelismoreefficientthanothersandithasalsomoreforecastingability.

简介：Inthispaper,weanalyzethe180stockswhichhavethepotentialinfluenceontheShanghaiStockExchange(SSE).First,weusethestockclosingpricesfromJanuary1,2005toJune19,2015tocalculatelogarithmicthecorrelationcoefficientandthenbuildthestockmarketmodelbythresholdmethod.Secondly,accordingtodifferentnetworksunderdifferentthresholds,wefindoutthepotentialinfluencestocksonthebasisoflocalstructuralcentrality.Finally,bycomparingtheaccuracyofsimilarityindexofthelocalinformationandpathinthelinkpredictionmethod,wedemonstratethattherearebestsimilarityindextopredicttheprobabilityfornodesconnectioninthedifferentstocknetworks.

简介：Chauffeuredcarservice(CCS)hasdevelopedrapidlyinrecentyears.AlthoughCCSbringsconvenienceandeffectiveness,italsotriggerssomenewproblemslikeviciouscompetition.ThisworkstudiestheduopolycompetitionbetweenCCScompanyandtaxicompany,intermsofdifferentaveragecostandnumberofvehiclesoftwocompanies.Tofindthesolutionslikethepricingschemetoeasetheviciouscompetition,Hotellingmodelisintroduced.TheHotelling-typemodelisusedtopresentpassengers’preferencestothecompanies.Besides,failingsituationistakenintoaccountintheHotellingmodeltodescribethesituationwherepassenger’sdemandisnotsatisfiedinreality.Thisworktheoreticallyanalyzesthepriceschemeandequilibriummarketsegmentationbasedontheaveragecostandnumberofvehiclesofeachcompany.Furthermore,companies’profits,passengers’utilityandsocialwelfareinequilibriumarerevealedbasedonthegametheory.Thestudyshowsthatbothofcompaniescangetoptimalprofitsbysettingeffectivepricescheme.Thecompanywhichhashigherprice,definitelygetslessmarketshare.Inaddition,moderatecompetitioncanleadtopositiveinfluenceonsocialwelfare.

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