下品市场的

Fortunately there is hope for consumers in the form of a market in mooncake derivatives.

幸运的是，这里有消费者在月饼衍生品市场形式下的希望。

Based on modern option pricing theories,Black-Scholes and Merton option pricing model are used to study the pricing of the structured products,and its design,characteristics and risk are studied respectively.Based on Black-Scholes and Merton option pricing models,I also use the checking method to estimate the parameters of the model following real prices data,And calculate the theoretical price.Then,I compare the real and theoretical prices of the two pricing models.The results show that the effects of the Merton option pricing model are superior to the Black-Scholes option pricing model.Moreover,It shows that Hong Kong stock prices are also affected by the instant messages,and the jump phenomenon may exist in Hong Kong stock market.

本文以香港衍生品市场上三种主要结构性产品结构性票据、牛熊证和衍生权证为例，探讨了结构性产品的设计、特点、风险和定价，以现代期权定价理论为基础，以B-S和Merton两种期权定价为基础，根据市场价格经过校验得出模型隐含的参数，编程计算出两种定价模型下的理论价格，并将其实际价格和理论价格进行了比较，结果显示：Merton定价模型的效果要优于Black-scholes定价模型，说明香港市场的股票价格也可能受即时信息的影响，存在跳跃现象。

Mayhew concluded that it is rather difficult to tell whether derivative markets worsen financial-market volatility, because their creation tends to come when existing financial markets already are more volatile, or can be predicted to become so.

梅休的结论是：确定衍生品市场是否加剧了金融市场的动荡非常困难，因为金融衍生品市场本身就是在现有金融市场波动加剧、或预计有可能波动加剧的情况下才得以创立。

"During our immersion in the Russian and Chinese markets, we recognized that in order to convert homemade behavīor, we would have to offer products that enabled the preparer to use them as foundations for their favorite recipes," said Larry McWilliams, president, Campbell International.

中国市场方面，金宝汤将推出Swanson品牌下的两个汤品。Swanson的产品在中国香港市场已拥有20多年的销售历史。可口可乐在中国最大的装瓶合作伙伴Swire Beverages将负责这些产品在中国市场的销售。

So, the thesis builds the pricing model of OTC financial derivatives with credit condition and market interest rate and test the pressure of OTC financial derivatives with Monte Carlo simulation according to VaR. Under the assumption of given interest rate shock, yield spread shows non-linear changes with different credit condition and product deadline.

在此基础上，论文借鉴VaR思想，使用蒙特卡罗模拟技术对考虑信用状况与市场利率复合影响的OTC金融衍生品的监控模型进行了压力测试，在设定利率冲击的情况下，收益利差在不同信用状况与产品期限的组合下呈非线性变化。

This paper points out the central and local governments can't supply and administrate rural necessary public goods. And the frangible market and capital nature decides its' failure of supply and administration in remote rural regions.

本文认为，在多层代理和财政约束下，中央和地方政府均无法有效供给和管理农村公共品；同时，由于农村薄弱的市场经济和偏远的地理位置，以及私人资本趋利本性，决定了农村公共品供给和管理中市场失灵。

Impropriate monoply by public sector is the main defect in china's public goods production, which leads to various systemic barriers and unequal conditions encountered by private and foreign investments in this f...

在国家宏观调控下，有序地向国内外开放公共品市场，实现政府机制与市场机制混合调节以及公共部门与私人部门、国内资本与国外资本的职能互补和公平竞争，必须进行包括政府规制制度、财政税收制度、公共投资和补贴制度、产权制度以及企业组织制度等在内的全面制度创新。

The company was founded in June 2007, is Taiwan's polygram cosmetics company under the authority of the League of Spider King brand sole agent in China, responsible for online e-commerce to develop the Chinese market and international market.

本公司创建于2007年6月，是台湾宝丽金化装品联盟公司授权下蜘蛛王品牌产品在中国地区的总代理，负责开拓中国网上电子商务市场及国际市场。

One is to analyze the termination and close-out netting with the economic theories, which nobody has done in China. Another is to analyze the right of the judge with the game theory and to give some suggestions. The other is to analyze the macro-financial market from a micro-clause of the financial contracts.

第一，运用经济学方法来分析提前终止和终止净额这一合同条款在破产情况下的有效性，从经济效率角度论证了提前终止和终止净额所具备的经济学意义，这在国内的经济学领域是从来没有过的；第二，运用博弈论的方法对法官在破产时的自由裁量权进行了分析，并配合提出了相应的政策建议；第三，从场外金融衍生品市场规范性合约中的某一个条款入手，分析其对金融衍生品市场发展的意义，尝试从微观的角度来解决宏观的问题，这也是本文比较独特的地方。

And the wall street of the earliest collapse the 5th cast a Bei Ersi to enter a company greatly, its are in China be apt to of direct investment lack but old, was last year only the beginning of the year once invested a group to come to an agreement with Huang Guangyu's subordinate roc embellish, establish the investment platform of a 500 million dollar jointly, investment just decides Chinese disappear 費 to taste to the lock reach retail market, going the end of the year invites Guo Dehong of president of Yuan Lanxin Asia to take up the post of steer a boat person.

而最早垮台的华尔街第五大投行贝尔斯登公司，其在华直接投资乏善可陈，只是去年年初曾经与黄光裕旗下的鹏润投资集团达成协议，共同组建一个5亿美元的投资平台，投资方向锁定中国消費品及零售市场，并在去年底聘请原兰馨亚洲董事总经理郭德宏出任掌舵人。

The labia have now been sutured together almost completely.The drains and the Foley catheter come out at the top.

此刻阴唇已经几乎完全的缝在一起了，排除多余淤血体液的管子和Foley导管从顶端冒出来。

To get the business done, I suggest we split the difference in price.

为了做成这笔生意，我建议我们在价格上大家各让一半。