We performed a multifractal analysis using wavelet transform to detect the changes in the fractality of the USD/JPY and EUR/JPY exchange rates, and predicted their extreme values using extreme value theory. After the ...We performed a multifractal analysis using wavelet transform to detect the changes in the fractality of the USD/JPY and EUR/JPY exchange rates, and predicted their extreme values using extreme value theory. After the 1997 Asian financial crisis, the USD/JPY and EUR/JPY became multifractal, then the USD/JPY became monofractal and stable, and yen depreciation was observed. However, the EUR/JPY became multifractal and unstable, and a strong yen depreciation was observed. The coherence between the USD/JPY and EUR/JPY was strong between 1995 and 2000. After the 2007-2008 financial crisis, the USD/JPY became monofractal and stable, and yen appreciation was observed. However, the EUR/JPY became multifractal and unstable, and strong yen appreciation was observed. Various diagnostic plots for assessing the accuracy of the GP model fitted to USD/JPY and EUR/JPY are shown, and all the diagnostic plots support the fitted GP model. The shape parameters of USD/JPY and EUR/JPY were close to zero, therefore the USD/JPY and EUR/JPY did not have finite upper limits. We predicted the maximum return level for the return periods of 10, 20, 50, 100, 350, and 500 years and their respective 95% confidence intervals (CI). As a result, the 10-year and 100-year return levels for USD/JPY were estimated to be 149.6 and 164.8, with 95% CI [143.2, 156.0] and [149.4, 180.1], respectively.展开更多
2019年12月6日,欧洲纤维产业联盟(EURATEX)召开了理事会,欧洲委员会环境总局长Calleja Crespo先生特邀参加,会议建议了面向EURATEX新循环经济的行动计划。EURATEX的新战略,以“Prospering in the Circular Economy 2019(在循环经济中的...2019年12月6日,欧洲纤维产业联盟(EURATEX)召开了理事会,欧洲委员会环境总局长Calleja Crespo先生特邀参加,会议建议了面向EURATEX新循环经济的行动计划。EURATEX的新战略,以“Prospering in the Circular Economy 2019(在循环经济中的繁荣)”标题,由在9个行动计划之下,12个重点要点、6个条件、38个具体建议构成。展开更多
2019年12月6日,欧洲纤维产业联盟(EURATEX)召开了理事会,欧洲委员会环境总局长Calleja Crespo先生特邀参加,会议建议了面向EURATEX新循环经济的行动计划。EURATEX的新战略,以"Prospering in the Circular Economy 2019(在循环经济...2019年12月6日,欧洲纤维产业联盟(EURATEX)召开了理事会,欧洲委员会环境总局长Calleja Crespo先生特邀参加,会议建议了面向EURATEX新循环经济的行动计划。EURATEX的新战略,以"Prospering in the Circular Economy 2019(在循环经济中的繁荣)"标题,由在9个行动计划之下,12个重点要点、6个条件、38个具体建议构成。展开更多
文摘We performed a multifractal analysis using wavelet transform to detect the changes in the fractality of the USD/JPY and EUR/JPY exchange rates, and predicted their extreme values using extreme value theory. After the 1997 Asian financial crisis, the USD/JPY and EUR/JPY became multifractal, then the USD/JPY became monofractal and stable, and yen depreciation was observed. However, the EUR/JPY became multifractal and unstable, and a strong yen depreciation was observed. The coherence between the USD/JPY and EUR/JPY was strong between 1995 and 2000. After the 2007-2008 financial crisis, the USD/JPY became monofractal and stable, and yen appreciation was observed. However, the EUR/JPY became multifractal and unstable, and strong yen appreciation was observed. Various diagnostic plots for assessing the accuracy of the GP model fitted to USD/JPY and EUR/JPY are shown, and all the diagnostic plots support the fitted GP model. The shape parameters of USD/JPY and EUR/JPY were close to zero, therefore the USD/JPY and EUR/JPY did not have finite upper limits. We predicted the maximum return level for the return periods of 10, 20, 50, 100, 350, and 500 years and their respective 95% confidence intervals (CI). As a result, the 10-year and 100-year return levels for USD/JPY were estimated to be 149.6 and 164.8, with 95% CI [143.2, 156.0] and [149.4, 180.1], respectively.
文摘2019年12月6日,欧洲纤维产业联盟(EURATEX)召开了理事会,欧洲委员会环境总局长Calleja Crespo先生特邀参加,会议建议了面向EURATEX新循环经济的行动计划。EURATEX的新战略,以“Prospering in the Circular Economy 2019(在循环经济中的繁荣)”标题,由在9个行动计划之下,12个重点要点、6个条件、38个具体建议构成。
文摘2019年12月6日,欧洲纤维产业联盟(EURATEX)召开了理事会,欧洲委员会环境总局长Calleja Crespo先生特邀参加,会议建议了面向EURATEX新循环经济的行动计划。EURATEX的新战略,以"Prospering in the Circular Economy 2019(在循环经济中的繁荣)"标题,由在9个行动计划之下,12个重点要点、6个条件、38个具体建议构成。
