China is undergoing changes in its demographic structure, and the burden of raising children caring for elderly negatively affecting welfare Chinese families. Optimising financial structure households may be an effective solution. Using data from 2017 Household Finance Survey, this study, we empirically analyse how age population affects a household’s finances by applying probit tobit models. I...

We examine the prices quoted by specialists (or dealers) who have monopoly power to set prices (bids and asks) for a given asset, but who face indirect competition from other specialists who trade in related assets. In the context of a simple model where investors have mean{variance preferences, we characterize the equilibrium bids and asks quoted by K specialists in N assets, where some specia...

Intangible assets are a very economically significant asset class yet are largely excluded by accounting conventions from corporate balance sheets. Ownership (or control) of intangible assets can allow firms to differentiate their offerings to customers and establish some degree of competitive advantage. However, intangibles do not, apart from a few cases of licensing, generate value on their o...

Bitcoin is an online distributed ledger in which coins are distributed according to the unspent transaction output (UTXO) set, and transactions describe changes to this set. Every UTXO has associated to it an amount and signature verification key, representing the quantity that can be spent and the entity authorized to do so, respectively. Because the ledger is distributed and publicly verifiab...

Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries experienced consumption booms. ...

Nonperforming assets (NPA) reflect the risk factor of the concerned commercial bank. Some of these banks operate at a threshold point where further reduction of NPA is not possible without reducing loans and advances, a desirable output. Pursuing an additive slack based efficiency DEA model the potential rate of reduction of NPA is explored for 50 commercial banks operating on Indian soil.

The paper develops a framework for factor analysis and arbitrage pricing in a large asset economy modeled as one with a continuum of assets. It is shown that the assumptions of absence of arbitrage opportunities and that returns have a strict factor structure imply exact factor-pricing for a full measure of assets. Interpreting finite subsets of assets as random draws from the underlying econom...

FORM, which was developed at Pohand University of Science and Technology (POSTECH) in South Korea, is a systematic method that looks for and captures commonalities and variabilities of a product line in terms of “features”. The results of the analysis are used to develop reusable product line assets (architectures and components). This method includes techniques and tools for product line engin...