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With fast development of industrialization and urbanization, urban rail transit begins to play a more important role in public transportation, occupies a comparatively high proportion of urban transportation, lessens urban traffic congestion and promotes harmonious development of economy and society. The paper analyzes the basic development rules for urban rail transit, then summarizes the status...
This paper analyzes the effects of energy price shocks from a general equilibrium standpoint of the features of modern business cycles. This study modifies a typical real business cycle model with indivisible labor by explicitly including energy as a productive input and modeling the relative price of energy as an exogenous random process. In closed models, the production technology of firms is described...
Debt and equity financing are two main modes of corporation external financing. Over the recent years, corporations in China favor equity financing. Based on a comparison between the two financing modes, this paper analyses the advantages of debt financing. There are at least five advantages debt financing, such as financing costs, avoiding equity dilution, financial leverage, constraints to the management...
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