Generalized integer-valued random coefficient for a first order structure autoregressive (RCINAR) process

A random coefficient autoregressive process for count data based on a generalized thinning operator is presented. Existence and weak stationarity conditions for these models are established. For the particular case of the (generalized) binomial thinning, it is proved that the necessary and sufficient conditions for weak stationarity are the same as those for continuous-valued AR(1) processes. These kinds of processes are appropriate for modelling non-linear integer-valued time series. They allow for over-dispersion and are appropriate when including covariates. Model parameters estimators are calculated and their properties studied analytically and/or through simulation.     

Sampling nested Archimedean copulas

We give algorithms for sampling from non-exchangeable Archimedean copulas created by the nesting of Archimedean copula generators, where in the most general algorithm the generators may be nested to an arbitrary depth. These algorithms are based on mixture representations of these copulas using Laplace transforms. While in principle the approach applies to all nested Archimedean copulas, in practice the approach is restricted to certain cases where we are able to sample distributions with given Laplace transforms. Precise instructions are given for the case when all generators are taken from the Gumbel parametric family or the Clayton family; the Gumbel case in particular proves very easy to simulate.     

Non-Gaussian Ornstein–Uhlenbeck-based models and some of their uses in financial economics

Non-Gaussian processes of Ornstein–Uhlenbeck (OU) type offer the possibility of capturing important distributional deviations from Gaussianity and for flexible modelling of dependence structures. This paper develops this potential, drawing on and extending powerful results from probability theory for applications in statistical analysis. Their power is illustrated by a sustained application of OU processes within the context of finance and econometrics. We construct continuous time stochastic volatility models for financial assets where the volatility processes are superpositions of positive OU processes, and we study these models in relation to financial data and theory.     

当前我国有效需求不足问题探讨

当前我国有效需求不足主要体现为消费、投资和出口这三大需求不足，并引发了要素闲置、通货紧缩和金融体系资产质量水平低下等问题，影响经济增长。有效需求不足的成因可归结为结构和政策两大因素。调整产业结构，改进政策措施，才能标本兼治     

从当前市场状态论市场营销

随着商品经济的发展 ,市场发育的完善 ,市场营销已变得日趋重要。目前市场营销已进入了第三阶段 ,面对新的市场状态 ,营销活动必须注入新的内涵。本文就当前市场状态下市场营销的新观念予以探讨     

Testing for Stochastic Dominance Efficiency

We consider consistent tests for stochastic dominance efficiency at any order of a given portfolio with respect to all possible portfolios constructed from a set of assets. We justify block bootstrap approaches to achieve valid inference in a time series setting. The test statistics are computed using linear and mixed integer programming formulations. Monte Carlo results show that the bootstrap procedure performs well in finite samples. The empirical application reveals that the Fama and French market portfolio is first and second-order stochastic dominance efficient, although it is mean–variance inefficient.     

饭店业环保运营影响因素研究——以福建省为例

近几年，我国饭店业绿色化发展速度非常快，但由于国家尚未专门制定饭店业环境管理的相关法律法规，致使饭店业环保运营的效果不够理想。本文以福建省为例，在问卷调查的基础上运用SPSS统计软件进行分析，并得出结论：影响饭店业环保运营的因素主要来源于饭店效能、市场需求、企业形象和社会责任，饭店管理者仍以饭店效能作为环保运营的第一原则，法律法规及商业协会对饭店业环保运营几乎没有影响。     

Stochastic comparisons of order statistics,with applications in relibility

This paper reviews recent developments in the stochastic comparison of order statistics. The results discussed are basically: (l) Stochastic comparisons of linear combinations of order statistics from distributions F and G where G^?1 F is convex or starshaped. (2) Stochastic comparisons of individual order statistics and of vectors of order statistics from underlying heterogeneous distributions by the use of majorization and Schur function theory. (3) Stochastic comparison of random processes. Applications to reliability problems are presented illustrating the use and value of the theoretical results described     

The Quality Adjusted Price Index in the Pure Characteristics Demand Model

This paper computes a quality adjusted price index for the personal computer CPU from 1996 to 2000. The index is based on the pure characteristics demand model. I first compute the quality adjusted price index for the whole market, and show that it is very comparable with the hedonic price index but more sensitive to changes in product quality. Two types of the hedonic index are considered. One is the dummy variable index and the other is the formulation in Pakes (2003). When I group consumers by their willingness to pay for attribute improvement, the index shows consumer groups are differently affected by their product choices.     

Testing Target-Zone Models Using Efficient Method of Moments

The objectives of this article are threefold—(1) to test target-zone models using more efficient and direct econometric methodology than previous research, (2) to identify an implicit band, if it exists, from observed data and to test target-zone models based on the estimated implicit band rather than the stated official band, and (3) to examine whether the exchange rate can be modeled as a managed float system with a central parity that lacks a band. We find strong evidence that a model with intramarginal intervention and a narrower implicit (unofficial) band can describe the dynamics of the French franc/Deutsche mark exchange rate from January 1, 1987–July 30, 1993.