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with the provincial panel data of the western region of China from 2000 to 2009, this paper establishes a regression model and uses pooled-LS analysis and MCMC algorithm which based on Bayesian linear regression theory to empirical analysis the financial development in the western region of China upon the urban-rural income gap. The result shows that the development of financial intermediation widens...
Through the mathematical model, we can verify that the optimal macro-tax burden rate of our province is 13.36%.The research demonstrates that there is a positive correlation between the level of economic development and the macro-tax burden in our province, while at the same time existing separation to some extent‥
This paper extends the known result due to Belhaj who found the optimal dividend policy is of a barrier type for a jump-diffusion model with exponentially distributed jumps. It turns out that there can be essentially two different solutions depending on the model's parameters. It also deals with the optimal control problem for the jump-diffusion process with solvency constraints. The objective of...
This paper considers the ruin probability of a kind of dual risk model with a threshold. We assume that the expenses with a constant rate c ,and the aggregate positive gains is a compound process. Besides, the gain size depends on the inter-arrival time. The integro-differential equations satisfied by the ruin probability are derived. The adjustment coefficient and Lundberg's inequality can be gotten...
In this paper, we analyze the sub-account value process of the guaranteed equity-linked insurance. By using the financial engineering method, this article presents a static model to deal with the contractual withdrawal situation. Then the stochastic control approach is developed and the Hamilton-Jacobi-Bellman equation model is deduced to price the dynamic withdrawal behavior.
Consider an insurance risk model, in which the surplus process satisfies a recursive equation Un = Un-1(1 + r) - Xn for n ≥ 1, where, U0 = x ≥ 0 is the initial surplus, r > 0 is the constant interest rate, each Xn denotes the gross loss during the nth year, and Xn, n = 1, 2, ..., constitute a sequence of i.i.d. real valued r.v.'s with common d.f. F. This paper investigates the ruin probability...
As Chinese financial reform is deepening, the construction of the deposit insurance system has been one of major theoretical and practical issues on the financial system reform in China. This paper adopts Ronn & Verma pricing model, and calculates the tolerance parameter of listed banks in China, which is 0.95, then constructs the deposit insurance pricing model for Chinese listed banks. The insurance...
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