This paper presents a factor-based forecasting model for the financial market vulnerability in the U.S. We estimate latent common factors via the method of the principal components from 170 monthly frequency macroeconomic data to out-of-sample forecast the Cleveland Financial Stress Index. Our...

This paper empirically investigates the determinants of key benchmark interest rates in China using an array of constrained ordered probit models for quarterly frequency data from 1987 to 2013. Specifically, we estimate the behavioral equation of the People's Bank of China that models their...

Purpose – The purpose of this paper is to examine recent developments pertaining to China’s shadow banking sector. Shadow banking has the potential not only to be a beneficial contributor to continued economic growth, but also to contribute to systematic instability if not properly monitored...

Recently, rare-earth doped phosphors have been newly developed and applied in hot issues such as phosphor-converted light-emitting diodes (pc-LEDs)，anti-counterfeiting, and fingerprint visualization. Herein, an Eu 3+ -activated CaGdSbWO 8 (CGSW) red phosphor was synthesized by a...