金融自由化浪潮下我国金融业发展对策

20世纪70年代以来,国际金融自由化的进程明显加快,金融工具不断创新,金融信息化蓬勃发展.利率市场化、放松金融管制、开放国内资本市场、加强对全球金融的统一监管成为大势所趋.文章通过国际金融自由化进程中一些规律性经验的总结及我国金融改革历程的回顾,对我国金融市场在利率、外汇及证券等业务的开放提出了建议.     

一类非线性混合整规划的无约束连续化解法

将整系数多项式 0 - 1混合整规划问题化成无约束多项式规划问题。通过解该问题 ,能得到原问题的近似解。处理方法的特点是能够直接处理不等式约束情形 ,而不需要先将不等式约束化成等式约束再来处理     

办学要素的生态型混合：高职院校混合所有制改革的系统化建构

混合所有制改革是激发高职院校办学活力的重要方略。高职院校混合所有制改革过程中面临着办学要素离散的困境,主要体现为目标理念不明晰、改革策略措施单一化、支持环境不健全等。破解之道是形成办学要素的生态型混合,促进混合所有制生成的内部要素与外部支持条件的系统化重建,推进高职院校混合所有制的科学建构与可持续发展。     

The Infringement of the Right to Establish a Family for Jewish Spouses Who Are Mutually Proscribed from Marrying Each Other

Abstract

The article focuses on one of the most painful experiences in intimate relationships and unveils a hitherto unexplored type of human right infringement, namely the right to establish a family in Israel, purported to be a democratic state. Thousands of couples are proscribed from marrying each other every year in Israel. This paper focuses on Jewish couples consisting of male Cohanim (descendants of Jewish priests) and female divorcées, as one among other types of forbidden marriages. Four themes emerged from data analysis of narratives of 26 interviewees, which converged to a common motif of liminality of Cohen-divorcée couples. Based on empirical data, I describe the predicament attendant to this human rights violation which is transmitted to offspring of these couples. The article argues that this liminality undermines the basic rationale of the prevailing millet (personal law) system and discusses the implications of this liminality for human rights and religion-state relations.     

Optimal investment and life insurance strategies in a mixed jump-diffusion framework

Abstract

This article investigates an optimal investment and life insurance strategies in a mixed jump-diffusion framework. The individual life insurance policyholder who has CRRA preferences. The market consists of riskless asset, a zero-coupon bond, a stock and life insurance. The instantaneous interest rate is modeled as the O-U model, while a zero-coupon bond with credit risk follows a BSDE and a risky asset be driven by MJD-fBm model. The problem is solved by the mixed jump diffusion fractional HJB SDE which satisfied the admissible strategy, then the closed form solution and optimal strategies are derived and the simulation of the various parameters are also given.     

Detecting Directionality in Time Series

Abstract

Directionality can be seen in many stationary time series from various disciplines, but it is overlooked when fitting linear models with Gaussian errors. Moreover, we cannot rely on distinguishing directionality by comparing a plot of a time series in time order with a plot in reverse time order. In general, a statistical measure is required to detect and quantify directionality. There are several quite different qualitative forms of directionality, and we distinguish: rapid rises followed by slow recessions; rapid increases and rapid decreases from the mean followed by slow recovery toward the mean; directionality above or below some threshold; and intermittent directionality. The first objective is to develop a suite of statistical measures that will detect directionality and help classify its nature. The second objective is to demonstrate the potential benefits of detecting directionality. We consider applications from business, environmental science, finance, and medicine. Time series data are collected from many processes, both natural and anthropogenic, by a wide range of organizations, and directionality can easily be monitored as part of routine analysis. We suggest that doing so may provide new insights to the processes.     

Confidence intervals for impulse responses under departures from normality

Monte Carlo evidence shows that in structural VAR models with fat-tailed or skewed innovations the coverage accuracy of impulse response confidence intervals may deterorate substantially compared to the same model with Gaussian innovations. Empirical evidance suggests that such departures from normality are quite plausible for economic time series. The simulation results suggest that applied researchers are best off using nonparametric bootstrap intervals for impulse responses, regardless of whether or not there is evidence of fat tails or skewness in the error distribution. Allowing for departures from normality is shown to considerably weaken the evidence of the delayed overshooting puzzle in Eichenbaum and Evans (1995).     

The Singularity of the Information Matrix of the Mixed Proportional Hazard Model

This paper presents new identification conditions for the mixed proportional hazard model. In particular, the baseline hazard is assumed to be bounded away from 0 and ∞ near t = 0. These conditions ensure that the information matrix is nonsingular. The paper also presents an estimator for the mixed proportional hazard model that converges at rate N^−1/2.     

Effectiveness of the Coral Tree Family Service family inpatient unit: a longitudinal study exploring change in family functioning

Child mental health disorders represent a major burden to public health in Australia due to high prevalence rates, the widespread impact across domains, and the potential for difficulties to persist into adolescence and adulthood. Extensive evidence exists for the use of parent management training and cognitive behavioural therapy to treat difficulties experienced by children; however, a proportion of children do not benefit as expected from these treatments. The use of complementary therapeutic approaches and variations to the mode and intensity of existing intervention is warranted; family inpatient units represent a unique example of this. The aim of this study is to evaluate the effectiveness of a well-established Australian inpatient unit that admits the whole family, for children aged 12 years and younger referred with mental health, behavioural, or emotional difficulties. This study's longitudinal within-subject study design utilised routinely collected outcome data from the systemic clinical outcome and routine evaluation, 15 item (SCORE-15)—a valid and reliable measure of family functioning—from a sample of 980 participants attending the Family Residential Program. This study reported significant improvement in family functioning across all outcome variables between baseline and post-intervention, with no variables returning to pre-intervention levels at follow-up. Clinically significant changes in overall family functioning showed that 37% of participant scores moved from the clinical range at baseline to the nonclinical range post-intervention. This study represents the first empirical evaluation of the Family Residential Program, and the reported results provide compelling evidence for the program to effect improvement in family functioning for families with long-standing and severe difficulties. Poor rates of questionnaire completion following intervention frequent the literature base of family inpatient units, with low post-intervention (56%) and follow-up (12%) rates evident in this study. This study uniquely contributes to the growing evidence base of family inpatient units using rigorous evaluation methods.     

Evaluation of single and mixed verbal operant arrangements for teaching mands and tacts

The purpose of this series of experiments was to evaluate the effects of mixed mand-tact arrangements on the acquisition of mands and tacts in preschool-aged children. In Experiment 1, the effects of three training arrangements (mand-only training, tact-only training, and mand-tact training) were investigated with 3 typically developing children. Rates of acquisition in single (mand-only and tact-only) versus mixed (mand-tact) presentation were comparable, in contrast to earlier investigations. Experiment 2 attempted to clarify the equivocal findings of Experiment 1 by directly replicating the Carroll and Hesse (1987) investigation with 2 typically developing children. Results again demonstrated no clear benefit of mixed verbal operant training on tact acquisition. In Experiment 3, these same arrangements were evaluated with a boy with autism and included assessments to determine that a relevant establishing operation was in effect prior to each mand training session. Experiment 3 again failed to demonstrate the facilitative effects of mand-tact training on the acquisition of mands or tacts. Taken together, the data from these three experiments fail to support the improved efficiency of mand-tact training suggested by prior studies. Findings are discussed in the context of future research investigating mixed verbal operant arrangements.