Lecture_8
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Factors for the business to consider on equity financing
• • • • Issue costs No obligation to pay dividends Not tax deductible Effect on control and freedom of action
Lecture 7
Sources of Long-Term Financing
1-1
Capital markets
• Primary capital Market
– a market for new capital. – Securities issued for the first time. – Any point of contact between a supplier and a user of capital is part of the primary capital market.
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Methods of raising additional equity finance
• Retained profit: profits certainly lead to a net increase in funds, and retaining these, or part of them, rather than paying them out as dividends, is in effect a way of raising finance. • Bonus shares: In much the same way as businesses can and do split nominal values, they can convert retained profits into ordinary shares, known as bonus shares which are then distributed to existing shareholders free of charge. This procedure is known as a bonus issue.
Lecture 8翻译技巧(词义的延伸)
英语中，特别在现代英语中，常常用一个表示具体形象 的词来表示一种属性、一个事物或一种概念。翻译这类 词时，一般可将其词义作抽象化的引伸，译文才能流畅、 自然。 将表示具体形象的词译成该形象所代表的属性的词 There is a mixture of the tiger and the ape in the character of the imperialists. 帝国主义者的性格既残暴，又狡猾。 这里把tiger（老虎）和ape（猿）这两个具体形象引伸 为这两个形象所代表的属性：“残暴”和“狡猾”。 Every life has its roses and thorns. 每个人的生活都有甜和苦。 这里把roses（玫瑰）和thorns（刺）这两个具体形象 引伸为这两个形象所代表的属性：“甜”和“苦”。
On Studies 王佐良译《论读书》 水天同《论学问》 Studies serve for delight, for ornament, and for ability. 水译：读书为学的用途是娱乐、装饰和增长才识。 王译：读书足以怡情，足以傅彩，足以长才。 Their chief use for delight, is in privateness and retiring; for ornament, is in discourse; and for ability, is in the judgment, and disposition of business. 水译：在娱乐上学问的主要的用处是幽居养静；在装饰 上学问的用处是辞令；在长才上学问的用处是对于事务 的判断和处理。 王译：其怡情也，最见于独处幽居之时；其傅彩也，最 见于高谈阔论之中；其长才也，最见于处世判事之际。
lecture8
第八讲 载流子的漂移和扩散（续）9月21，2001内容：⒈ 在热平衡时非均匀掺杂半导体阅读作业del Alamo Ch. 4，§4.5主要问题●热平衡时，在一个半导体中有可能存在一个电场吗？●对电子和空穴电流那意味什么？●在迁移率和扩散系数间有关系吗？●给定一个非均匀掺杂分布，如何计算平衡时载流子浓度？●在什么情况做那平衡多数载流子浓度遵循那掺杂把在一个非均匀掺杂半导体弄平整？⒈ 在热平衡时非均匀掺杂半导体热平衡时，在一个半导体中有可能存在一个电场非均匀掺杂分布□ 高斯定律：电荷产生电场：●如果00ρε=●如果00d dx ερ=●有可能0ε而0ρ=在半导体中：如果D D N N +;而A AN N −;□ 在TE 时均匀掺杂的半导体：●远离任何表面电中性。
●因为外面没有施加电场00ε=□ 在TE时非均匀掺杂的半导体（n型）：三个可能：●()()0D n x N x =净扩散电流●()0n x 一致的净漂移电流●()0n f x =但()()0D n x N x 不存在净电流的方式□ 目的：理解在TE时非均匀掺杂半导体物理机制● 在TE时电流详细的平衡原理● 爱因斯坦关系● 玻尔兹曼关系● 一般结论● 准中性结论□ 在热平衡时详细的平衡进一步要求：[研究§4.5.2中的例子]□ 爱因斯坦关系µ指一个电场中载流子“自由的”漂移。
D指“自由的”载流子扩散导致的一个浓度梯度。
µ和D之间有关系吗？有，是爱因斯坦关系：µ和D之间的关系只取决于T。
[研究§4.5.2中推导和约束条件]□ 玻尔兹曼关系在TE 时，扩散＝漂移在静电学和载流子浓度之间必定存在在TE 时，0e J =：000e e e dn J q n qD dxµε=+那么，0ε和平衡载流子浓度之间的关系：00001(ln )kT dn kT d n q n dx q dxε=−=−按φ表示为：积分得：在两个不同点平衡载流子浓度的比与静电势差别的关系。
lecture 8
example
• 即期 GBP/USD=1.9620，伦敦市场利率 9.5%，纽约市场利率7%，三个月英镑 远期汇率》 • 英镑远期贴水 • 贴水数=即期汇率*利率差*天数/360 • =1.9620*(9.5%- 7%)*(90/360)=0.012 • 3个月远期=1.9500（1.9620-0.012）
• Small number of currencies ---forward contracts • Banks –offset position • 外汇银行为了平衡其远期外汇持有额而 交易。 交易。 • 远期外汇持有额就是外汇头寸(foreign exchange position)。
• 外汇银行之所以有风险，是因为它在与 客户进行了多种交易以后，会产生一天 的外汇“综合持有额”或总头寸(overall position)，在这当中难免会出现期汇和现 汇的超买或超卖现象。这样，外汇银行 就处于汇率变动的风险之中。为此，外 汇银行就设法把它的外汇头寸予以平衡 ，即要对不同期限不同货币头寸的余缺 进行抛售或补进，由此求得期汇头寸的 平衡
标价方法相同， 标价方法相同，交叉相除
1英镑=1.8644-1.8649美元 交叉相除 1欧元=1.2955-1.2958美元，则： 1英镑= 1.8644/1.2958-1.8649/1.2955 =1.4388-1.4395欧元
标价方法不同，同向相乘， 标价方法不同，同向相乘，即
1英镑=1.8644-1.8649美元 （英镑间接标价） 1美元=104.060-104.090日元（日元直接标价） 英镑= 1.8644* 104.060-1.8649*104.090 =194.0095-194.1174日元
Cross rate 套算汇率/交叉
Lecture 8
5. appositive
His hobby, making model airplanes, is very interesting.
6. attribute
The factory built a swimming pool last year. Our teacher uses a very good teaching m object
The commonly-used verb and adjective phrases are: keep on, count on, look forward to, object to, oppose to, do away with, persist in, dream of, get around to, refrain from, resort to, go in for, insist on, think of, succeed in, put off, be used to, accustomed to, be keen on, be proud of, be subject to, etc. Who is responsible for organizing this excursion? If you persist in breaking the law, you’ll go to prison. We are looking forward to seeing you again.
I am sure of his coming in time. （一般式主动态） He is proud of being selected as monitor. （一般式被动态） I’m confident of his having passed the exam. （完成式主动态） He complained of having been wronged by others. （完成式被动态） 8.1.2 Functions of gerund 1. subject Asking for help is sometimes necessary. Eating too much is not good for your health. Teaching offers something besides money and power.
Lecture 8
ax aA x 100 % aB aA
式中，aA和aB分别表示固熔体组元A和B的 点阵参数。因此，测得含量为x的B原子的 固熔体的点阵参数ax，用上式即求得固熔 体的组分。
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• 以铜-金固溶体为例，这两种金属都是面 心立方结构，其点阵常数分别为3.615埃 和4.078埃。设含c%金原子的固溶体的点 阵常数为x，按Vegard定律，可有如下关 系：
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• 现以一种奥氏体为例，其元素重量组成 为：Fe％ = 86.5％，Mn％ = 12.1，C％ = 1.34，结构为面心立方，a0 = 3.631Å， 密度测值ρ= 7.83克／厘米3，则其晶胞 的总质量m为： • m =ρ · 03 = 7.83×3.6313×10-24（克） a
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• 根据重量组成计算得一个晶胞内各种 原子的数目n如下：（N为Avogradro 常数） • n = m×N×Fe%／Fe = m×N×86.56%／55.85 = 3.5 • n = m×N×Mn%／Mn = m×N×12.10%／54.93 = 0.5 • n = m×N×C%／C = m×N×1.34%／12 = 0.25
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60
80
0.099 0.048 0.021 0.010 0.003 （%）
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所以，无论是为了精确测定晶胞参 数或者是为了比较结构参数的差异或变 化，原则上都应该尽可能使用高角度衍 射线的数据。因此在实际进行测定，需 要选择适当的X射线波长，使得样品能 在背射区域内有强度较高的线条可供测
量。
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2.1 衍射仪法中的测量误差
衍射仪法中记录的是 衍射线的强度分布曲线。 由强度分布曲线求出对应 的布拉格角θ的方法称为 定峰法。衍射仪法中的定 峰法有多种，对点阵常数 精确测定多采用中点连线 法（如右图）。
Lecture 8
Determining the Market Compensating Differential
w1 - w0 S ^
P (w1 -w0)*
Dw^ MIN D
The supply of labor to risky jobs slopes up because as the wage gap between the risky job and the safe job increases, more and more workers are willing to work in the risky job. The demand curve slopes down because fewer firms will offer risky working conditions if risky firms have to offer high wages to attract workers. The market compensation differential equates supply and demand, and gives the “bribe” required to atty risky firms.
Probability of Injury
0
1
W
Highly Averse to Risk Moderately Averse to Risk
UL
UH Risk
People differ in their aversion to the risk of being injured. Those who are very sensitive to this risk will require large wage increases for any increase in risk (UH), while those who are less sensitive will require smaller wage increases to hold utility constant (UL).
lecture 8
Finance
第八讲 债券价值评估
1
内容
1 运用现值估价公式评估已知现金流 2 纯贴现债券估价 3 附息票债券、当期收益率和到期收益率 4 阅读债券价目表 5 为什么到期日相同而收益率不同 6 债券价格的波动
2
随着利率下降，债券价格 上升
固定收益债券的现值为下面各项之和
j 1 pmt j * PV = ∑ 1+ i j =1 n
1 1 1 = pmt1 * + pmt 2 * + ... + pmt n 1 * 1+ i 1+ i 1+ i
1
2
n 1
1 + pmt n * 1+ i
n
3
US Treasury Yiled Curve, Jan 97
7.50
7.00
Annualized Yield (%)
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平价交易债券
债券交易原理 #1: (平价债券)
– 如果债券价格等于面值, 那么到期收益率= 当期收益率 = 息票率. 证明:
n 1 n pmt + F 1 1 P= 1+ i i 1+ i
& P=F
1 n pmt 1 n = 1 P = pmt = F P 1 1+ i 1+ i i i
收益曲线不是水平线时，息票利率不同而期限 相同的债券的到期收益率不同。
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影响债券收益率的因素
违约风险 税收 可赎回 可转换
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债券价格的波动
时间推移的影响 利率风险
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Yield Relationships
0.13 coupon_y current_y y_t_m Yield 0.11
第八讲 债券价值评估
1
内容
1 运用现值估价公式评估已知现金流 2 纯贴现债券估价 3 附息票债券、当期收益率和到期收益率 4 阅读债券价目表 5 为什么到期日相同而收益率不同 6 债券价格的波动
2
随着利率下降，债券价格 上升
固定收益债券的现值为下面各项之和
j 1 pmt j * PV = ∑ 1+ i j =1 n
1 1 1 = pmt1 * + pmt 2 * + ... + pmt n 1 * 1+ i 1+ i 1+ i
1
2
n 1
1 + pmt n * 1+ i
n
3
US Treasury Yiled Curve, Jan 97
7.50
7.00
Annualized Yield (%)
10
平价交易债券
债券交易原理 #1: (平价债券)
– 如果债券价格等于面值, 那么到期收益率= 当期收益率 = 息票率. 证明:
n 1 n pmt + F 1 1 P= 1+ i i 1+ i
& P=F
1 n pmt 1 n = 1 P = pmt = F P 1 1+ i 1+ i i i
收益曲线不是水平线时，息票利率不同而期限 相同的债券的到期收益率不同。
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影响债券收益率的因素
违约风险 税收 可赎回 可转换
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债券价格的波动
时间推移的影响 利率风险
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24
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Yield Relationships
0.13 coupon_y current_y y_t_m Yield 0.11
Lecture_8
• In general, volcanic hazards kill and endanger less people than those of other natural disasters • An example
– Tambora volcanic eruption (Indonesia, 1815)
Volcanic Cooling
• Volcanogenic Sulphur Dioxide gas
– Degassing active volcanoes
• Small amounts add up to ~10 million tonnes/yr (Graf et al. 1996)
– Explosive activity
• Volcanoes are known to have small amounts of chlorine gas (Cl2) and hydrochloric acid gas (HCl) in their plumes
– Can react to produce ozone-depleting substances in the atmosphere
• There is (limited and unsubstantiated) evidence that suggests volcanoes may contribute very minor amounts of chlorofluorocarbons (CFCs) to the atmosphere
– Pyroclastic flows reached temperatures of 1000 Celsius
• Ignited anything combustible they touched
– Tambora volcanic eruption (Indonesia, 1815)
Volcanic Cooling
• Volcanogenic Sulphur Dioxide gas
– Degassing active volcanoes
• Small amounts add up to ~10 million tonnes/yr (Graf et al. 1996)
– Explosive activity
• Volcanoes are known to have small amounts of chlorine gas (Cl2) and hydrochloric acid gas (HCl) in their plumes
– Can react to produce ozone-depleting substances in the atmosphere
• There is (limited and unsubstantiated) evidence that suggests volcanoes may contribute very minor amounts of chlorofluorocarbons (CFCs) to the atmosphere
– Pyroclastic flows reached temperatures of 1000 Celsius
• Ignited anything combustible they touched
Lecture 8
资本成本: r (%)
rS = r0 +
B × (1 − TC ) × (r0 − rB ) SL
r0
rWACC =
B SL × rB × (1 − TC ) + × rS B+SL B + SL
rB 负债-权益比 (B/S)
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情况 III: 破产成本
至今, 我们看到 MM 提议财务扛杆不相关, 或 其含意为税率使到最佳财务结构必须是 100%负债. 在现实世界中, 大多数执行员不喜欢一个 由100%负债形成的资本结构因为那个状 况叫着 “破产”. 接下来, 将是介绍有限度的运用负债原因: 财务困境.
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财务困境的成本
破产风险或破产成本. 破产可能性对公司的价值有负面效值. 但是, 并不是破产本身降低公司价值. 而是因为和破产有关的成本. 这是股东们承当的成本.
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财务困境的成本
直接成本
法律和管理成本(通常只占公司价值的一小部分).
间接成本
经营受影响, 如,失去销售额 代理成本
利己的投资策略1: 冒高风险的动机 利己的投资策略2: 倾向于投资不足的动机 利己的投资策略3: 撇脂
(EBIT − rB B) × (1 − TC ) + rB B = EBIT × (1 − TC ) − rB B × (1 − TC ) + rB B = EBIT × (1 − TC ) − rB B + rB BTC + rB B
EBIT的现值为 VU ; 第二项的现值为 TCB
∴VL = VU + TC B
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MM 命题 II (含公司税 含公司税) 含公司税
由 M&M 命题 I (含税)开始: VL = VU + TC B 既然 VL = S + B ⇒ S + B = VU + TC B
rS = r0 +
B × (1 − TC ) × (r0 − rB ) SL
r0
rWACC =
B SL × rB × (1 − TC ) + × rS B+SL B + SL
rB 负债-权益比 (B/S)
21
情况 III: 破产成本
至今, 我们看到 MM 提议财务扛杆不相关, 或 其含意为税率使到最佳财务结构必须是 100%负债. 在现实世界中, 大多数执行员不喜欢一个 由100%负债形成的资本结构因为那个状 况叫着 “破产”. 接下来, 将是介绍有限度的运用负债原因: 财务困境.
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财务困境的成本
破产风险或破产成本. 破产可能性对公司的价值有负面效值. 但是, 并不是破产本身降低公司价值. 而是因为和破产有关的成本. 这是股东们承当的成本.
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财务困境的成本
直接成本
法律和管理成本(通常只占公司价值的一小部分).
间接成本
经营受影响, 如,失去销售额 代理成本
利己的投资策略1: 冒高风险的动机 利己的投资策略2: 倾向于投资不足的动机 利己的投资策略3: 撇脂
(EBIT − rB B) × (1 − TC ) + rB B = EBIT × (1 − TC ) − rB B × (1 − TC ) + rB B = EBIT × (1 − TC ) − rB B + rB BTC + rB B
EBIT的现值为 VU ; 第二项的现值为 TCB
∴VL = VU + TC B
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MM 命题 II (含公司税 含公司税) 含公司税
由 M&M 命题 I (含税)开始: VL = VU + TC B 既然 VL = S + B ⇒ S + B = VU + TC B
lecture 8
Similarity of regulation between eukaryotes and prokaryote1、Principles are the same: signals, activators and repressors, recruitment and allostery （变构）, cooperative binding2、Expression of a gene can be regulated at the similar steps, and the initiation of transcription is the most pervasively regulated step.Difference in regulation between eukaryotes and prokaryote1. Pre-mRNA splicing adds an important stepfor regulation.2. The eukaryotic transcriptional machineryis more elaborate than its bacterial counterpart.3. Nucleosomesand their modifiers influenceaccess to genes.4. Many eukaryotic genes have more regulatory binding sites and are controlled by more regulatory proteins than are bacterial genes.cis-regulatory elementA cis-regulatory element or cis-element is aregion of DNA or RNA that regulates the expression of Genes located on that same strand. This term is constructed from the Latin word cis, which means "on the same side as". These cis-regulatory elements are often binding sites of one or more trans-acting factors. A cis-element may be located in the promoter region 5' to the gene it controls, in an intron, or in the 3'untranslated region. Trans-regulatory elementsTrans-regulatory elements are species which may modify the expression of genes distant from the gene that was originally transcribedto create them. To demonstrate the concept (this is not a specific example), a transcription factor which regulates a geneon chromosome 6 might itself have been transcribed from a gene on chromosome 11. This term is constructed from the Latin root -trans, which means "across from". Expound the general mechanism of control of gene expression of Eukaryotes。
lecture 8
• In order for the payment to occur, the seller has to present the bank with the necessary shipping documents confirming the delivery of goods within a given time frame.
• Lecture 8 • Mode of Payment: Letter of Credit
• Objectives: • 1. Introduction to Letter of Credit • 2. Types of Letter of Credit
• What is a Letter of Credit? • L/C is a binding document that a buyer can request from his bank in order to guarantee that the payment for goods will be transferred to the seller.
3. Transferable L/C ①可转让信用证。指信用证的受益人(第一受益人) 可以要求授权付款、承担延期付款责任，承兑或 议付的银行(统称“转让行”)，或当信用证是自 由议付时，可以要求信用证中特别授权的转让银 行，将信用证全部或部分转让给一个或数个受益 人(第二受益人)使用的信用证。开证行在信用证 中要明确注明“可转让”(Transferable)，且只能 转让一次。
• risk of theft, pilferage and nondelivery (TRND)
• insurance against strike, riot and civil commotion (SRCC) 罢工，暴动，民变险 • insurance against additional risks 附加险
Lecture8
2. 我们的开幕式，将是中国和世界杰出的 艺术家展现的舞台，讴歌人类的共同理想， 以及我们独特的文化传统和奥林匹克运动。 Our Ceremonies will give China's greatest-and the world's greatest artists a stage for celebrating the common aspirations of humanity and the unique heritage of our culture and the Olympic Movement.
• These were truly exceptional Games! And now, in accordance with tradition, I declare the Games of the XXIX Olympiad closed, and I call upon the youth of the world to assemble four years from now in London to celebrate the Games of the XXX Olympiad. Thank you!
1. 上海
旅游
上海是世界上最大的港口城市之一， 已发展成为中国重要的经济、金融、贸易、 科技、信息和文化中心。 Shanghai is one of the world’s largest seaports, which has become China’s important center of economy, finance, trade, science and technology, information and culture.
• 4. 古往今来，旅游一直是人们增长知识、丰富阅历、 强健体魄的美好追求。在古代，中国先哲们就提出了 “观国之光”的思想，倡导“读万卷书，行万里路”， 游历名山大川，承天地之灵气，接山水之精华。 • From ancient times till now, tourism has represented the happy wish of people for more knowledge, varied experience and good health. In ancient times, ancient Chinese sages believed in the idea of “appreciating the landscape through sightseeing” and advised people to “travel ten thousand li and read ten thousand books”, find pleasure in enriching themselves mentally and physically through traveling over famous rivers and mountains.
Lecture 8
• 他们同意分工干，每人翻译全书的三分之 一。They agreed on a division of labor, each to translate one third of the book. • 村上的人三三两两来访问工作队，有的是 来求教的，有的是来讨消息的。 • The villagers came in twos and threes to visit the working team, some to seek advice, some to get news.
•
•
她一只手提个篮子，内中有个破碗，空的， 另一只手拿着一根比他自己还高的竹竿， 下端开了裂。 In one hand she carried a basket in which was broken bowl, empty. In the other she held a bamboo pole, longer than herself, split at the bottom.
• To tell you the truth, I drank so much wine that I remember nothing. 老实告诉你，我 喝酒太多了，以至于什么都记不清了。 • To begin with, we must consider the problem all-sided. 首先，我们必须全面考 虑这个问题。
• 他是一位天才的语言学家，他对德、法、 英等语言同样精通。 • A gifted linguist, he was equally at home in French, German, and English.
第三类：独立不定式：表示让步，条件，结 果，以及插入成分
• 尽管活上一千年，一个人也学不够。To live a thousand years, one may not learn enough. • 即使走遍天涯海角，也找不到像这样的东西。To go to the world’s end, you could not find another like it. • To hear him speak English, one would take him for an Englishman. • 他扑通一声掉到海里，再也没有起来。He fell plop into the sea, never to rise again. • 他一去不复返。He is gone, never to return. • to say nothing of, not to speak of, not to mention.
Lecture8
- Amphoteric impurities (Si, Ge) in III-V compound (in GaAs) :
- Si or Ge (column IV impurities) can serve as donors or acceptors, depending on whether they occupy the column III or column V sublattice of the crystal.
In III-V Compounds (in GaAs) :
- Column VI impurities (S, Se, Te) occupying column V sites (As) serve as donors, and column II impurities (Be, Zn, Cd) occupying column III serve as acceptors.
2013-07-26
4
Electrons and Holes in Quantum Wells
1. Single-valued (discrete) energy levels in the band gap arising from doping (donor/acceptor energy level)
•This acceptor level is empty of electrons at 0K, and very small thermal energy can excite the electrons from V.B. to acceptor level. At 50-100K, almost all empty sites in the acceptor impurity level are filled with the electrons, leaving behind holes in V.B.
Lecture 8
will clean
Where will
What will
your
do
Key:DC
出门测
Key:CABBA
Homework
1、完成配套习题Lecture8部分 2、复习本课所有学习内容。
Thanks
注意事项 3. “will/shall+动词原形”与“be going to+动词原形”的区别
表示较远的将来时间要发生的事
表示近期就要发生的事
I will write a book one day.
I'm going to write an e-mail tonight.
要点回顾
Exercise One
Warm-up
What will happen in thr future?
New words and expressions
依次读出下列单词
future;pollute;enviroment;planet;earth;plant;part
Section A 2d
Role-play Reading
n.环境 adj.自然环境的；有关环境的
The company had failed to provide a safe enviroment for its wokers..
People are becoming far more aware of enviromental issuses. ➢ She cares deeply about __en__v_ir_o_m__e_n_ta_l__issues.
Break Time
Section A 2d
大声读出下列句子
There will be fewer trees and the enviroment will be in great danger.
lecture8
G ( y ) Pr(Y y ) Pr(r ( X ) y )
{ x:r ( x ) y}
f ( x)dx
If Y also has a continuous distribution, its p.d.f. g can be obtained by
( y) g ( y) dG dy
X s(Y ) (1 Y )1/ 2 for 0<Y<1.
ds( y) 1 dy 2(1 y)1/ 2 1 3 1/ 2 3(1 y ) (1 y ) , 0 y 1 1/ 2 2(1 y) 2 g ( y) 0, otherwise
18
Suppose we want to find the joint distribution of Y1 min(X1,, X n ) and Yn max(X1,, X n )
For - y1 yn , G ( y1 , yn ) Pr(Y1 y1 and Yn yn ) Pr(Yn yn ) Pr(Yn yn and Y1 y1 ) Pr(Yn yn ) Pr( y1 X 1 yn , , y1 X n yn ) Gn ( yn ) Pr( y1 X i yn )
g ( y) Pr(Y y) Pr(r ( X ) y)
x:r ( x ) y
f ( x)
2
Variable with A Continuous Distribution
Suppose X has a continuous distribution with p.d.f. f, and Y=r(X), a function of X. The d.f. G of Y can be derived as:
lecture 8
Problem-Solving Strategy Beliefs
2. Parties can be trusted
Questions
1. What causes conflict? 2. When is it functional and when is it not? 3. What methods can be used to resolve conflict? 4. Is any one method best?
2. Conflict develops from perceived mutually exclusive goals.
Through C., the goal actually isn’t mutually exclusive.
3. Conflict involves parties with different values or perceptions.
In one study, high-quality decisions occurred in 45.8% of the situations with strong subordinate resistance, but in only 18.8% of the situations where the resistance was weak or nonexistent.
-The goal is to move as close as possible to integrative problem solving.
Conflict Resolution Strategies
• Avoiding (回避） • Accommodating （通融） • Forcing （强迫） • Compromising （妥协） • Problem-solving （解决问题）
Lecture8_AK Model
公共产品模型
最优税率 τ = 1 − α 即当税率为1-α时，经济体将以最快的 速度增长。因此，从经济增长的角度看 ，是政府的最好政策 。
AK模型的实证检验
AK模型预测了长期的经济增长。从这种 意义上说，AK模型能够刻画现实世界的 经济增长。但问题是，AK模型同时还揭 示了外生参数的变化具有增长效应，即 政府政策的变化会永久地影响经济增长 。是这样吗？
Economic Growth 增长经济学
周吉梅 国际商学院
第八讲、AK模型及其拓展
AK模型 AK模型的拓展
– 人力资本模型（ Lucas ，1988） – 干中学模型（Arrow，1962） – 公共产品模型（Barro，1990）
AK模型的实证检验 关于“内生”的理解
AK模型
模型假设： 在Solow模型假设的基础上，改变生产函 数，令α＝1，则 Y=AK 其中A是一个正常数。显然，在AK生产 函数中，资本边际报酬不变。
公共产品模型
假定政府通过总产出的比例税率τ来平衡财政 预算，即 G = τY ⇒ G = (τBL1−α )1 α K 为了分析的方便，我们把产出的价格单位化为 一。因此，厂商的税后利润为
π = (1 − τ ) BL1−α K α G1−α − wL − rK
当厂商利润最大化时，租金率等于资本的税后 边际产出，即 r = α (1 − τ ) BL1−α K α −1G 1−α
关于“内生”的理解
从某种意义上说，政府政策存在增长效应，则 意味着政策制订者可以随意地操作长期经济增 长。如果经济增长率可以被人为地操纵，那么 长期增长就不可能是内生的。当然，这并不是 说，具有水平效应的索洛模型就提供了问题的 最终答案。我们更愿意把经济增长理解为各个 经济活动主体为追求自身利益而不断进行创新 、提出更多更好创意的结果。在这个意义上， 经济增长的过程显然是内生的。
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• For example:
• After many years of processing, coordinate systems are likely to change (eg., ITRF94 to ITRF2000) and globk can bring all early results into a consistent frame • Reason we write "loose" hfiles from gamit
Nov-4-02 GAMIT/GLOBK Tutorial 8 5
glred
• To check the quality of the individual positions in the hfiles we could create gdl files with just single hfiles listed and run globk on each one using a command file with
• apr_neu all 10 10 10 0 0 0 • apr_neu iisc_gps 0.01 0.01 0.01 0 0 0 • Again iisc is constrained and normal process
• Running globk on a set of individual hfiles is tedious so we have a program that automatically does this: glred
Nov-4-02
GAMIT/GLOBK Tutorial 8
11
glist
• Allows solutions generated by globk to be saved as binary hfiles • Normally invoked in globk command file with the
Nov-4-02
GAMIT/GLOBK Tutorial 8
15
hfupd options
• -r report contents of /sinex file • -u update the hfiles (must given to actually update files, without this option program reports changes to be made but does change files) • -p <hf/pmu_file> applied pole tide correction if needed. uses either polar motion values in hfile or in pmu_file • other options are advanced features
Nov-4-02
GAMIT/GLOBK Tutorial 8
3
Create a .gdl file
• A gdl file is created by making a list of binary-hfiles. If running from directory gsoln, then ls ../glbf/h*.glx > india.gdl • (.glr files are bias free solutions, .glx are bias fixed. Sinex files are .gls)
Nov-4-02
GAMIT/GLOBK Tutorial 8
6
3
glred
• glred is run the same way as globk ie. – glred <crt> <prt> <log> <gdl file> <command file> – but rather than combining all the data in the gdl files, each file is processed separately by globk • glred is a convenient way of making multiple globk runs
Nov-4-02 GAMIT/GLOBK Tutorial 8 9
glist
• To determine what is contained in a set of binary files use glist
• glist <gdl file> <output_file> <sort_direction> [eq_file] [out gdl] [apr file] • Only first argument required • adding eq_file will apply earthquakes and renames • out_gdl is a time sorted gdl file which can be used in globk • apr_file is an optional apr_file which the apr positions in the binary hfiles will be compared to. Differences greater than 0.3 m are reported.
• • • • ../glbf/h991001_gps1.glx + ../glbf/h991002_gps1.glx ../glbf/h000601_gps1.glx + ../glbf/h000602_gps1.glx
• Would combine the first and second and third and fourth files.
Nov-4-02
GAMIT/GLOBK Tutorial 8
8
4
glred gdl file
• There are some options in the gdl file that add flexibility to glred • a + can be added at the ends of hfile name names so that groups of hfiles will be combined eg.
Nov-4-02
GAMIT/GLOBK Tutorial 8
14
7
hfupd
• • • • hfupd allow updates to be made to the binary hfile files hfupd <options> <list of hfile names> Options include: -s <sinex file/> name of new or sinex header file that contains new information about sites (eg. correct antenna height) • -e <edit file> file containing edited and renamed sites
Using GLOBK and its Associated Programs
OVERVIEW
• Basic types of analyses with globk – Velocity and repeatability runs • Programs in the GLOBK suite – htoglb – globk – glred – glist – glsave – hfupd – glbtosnx
• out_glb <name/structure> • where name/structure is either: – Expliciit name of file – wild card constructor: Forms – H@.GLX will use the gdl file name replacing the first letter and extent – H------_SIO.GLX will use the 2-7 characters from the gdl file name
Nov-4-02
GAMIT/GLOBK Tutorial 8
10
5
glist
• During tutorial we will use this program to check contents of local hfiles • A grep 'P$' will extract a list of positions of the sites and the duration of their use
Nov-4-02
GAMIT/GLOBK Tutorial 8
4
2
Globk velocity command file
• If multiple years of data, then try velocity solution • globk command file must include – apr_neu all 10 10 10 1 1 1 – where the 1 1 1 is velocity uncertainties in m/yr – If velocity relative to specific site then add – apr_neu iisc_gps 0.01 0.01 0.01 F F F – would fix velocity of iisc – Usually do not do this, but rather use glorg for generalized definition