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This paper examines the impact of forward guidance in monetary policy on the pass-through of interest rates in New Zealand by analyzing the degree of both the long-term and short-term pass-through.

We use dynamic OLS to estimate the long-term relationship between the official cash rate and the time-deposit rates and various lending rates of New Zealand banks. We use a standard error correction model to estimate the short-term dynamics.

The results show that implementing forward guidance improves the degree of long-term pass-through, especially for time-deposit interest rates and longer-term fixed mortgage rates. Furthermore, the markup for various lending rates decreased, and the degree of short-term pass-through increased slightly after the implementation.

Implementing forward guidance enhances the transmission of monetary policy. Commercial banks are able to respond more quickly to changes in monetary policy by adjusting their deposit and loan rates.

New Zealand is the first country to mandate inflation targeting. Since its birth in 1990, the 2% inflation target has become the norm for central banks all over the world, including the FED, European Central Bank, Bank of Japan, Bank of England, etc. To our knowledge, ours is the first paper to examine the impact of forward guidance on the interest rate pass-through.

Sufficient sample data are the necessary condition to ensure high reliability; however, there are relatively poor fatigue test data in the engineering, which affects fatigue life's prediction accuracy. Based on this, this research intends to analyze the fatigue data with small sample characteristics, and then realize the life assessment under different stress levels.

Firstly, the Bootstrap method and the principle of fatigue life percentile consistency are used to realize sample aggregation and information fusion. Secondly, the classical outlier detection algorithm (DBSCAN) is used to check the sample data. Then, based on the stress field intensity method, the influence of the non-uniform stress field near the notch root on the fatigue life is analyzed, and the calculation methods of the fatigue damage zone radius and the weighting function are revised. Finally, combined with Weibull distribution, a framework for assessing multiaxial low-cycle fatigue life has been developed.

The experimental data of Q355(D) material verified the model and compared it with the Yao’s stress field intensity method. The results show that the predictions of the model put forward in this research are all located within the double dispersion zone, with better prediction accuracies than the Yao’s stress field intensity method.

Aiming at the fatigue test data with small sample characteristics, this research has presented a new method of notch fatigue analysis based on the stress field intensity method, which is combined with the Weibull distribution to construct a low-cycle fatigue life analysis framework, to promote the development of multiaxial fatigue from experimental studies to practical engineering applications.

Vision transformers (ViT) detectors excel in processing natural images. However, when processing remote sensing images (RSIs), ViT methods generally exhibit inferior accuracy compared to approaches based on convolutional neural networks (CNNs). Recently, researchers have proposed various structural optimization strategies to enhance the performance of ViT detectors, but the progress has been insignificant. We contend that the frequent scarcity of RSI samples is the primary cause of this problem, and model modifications alone cannot solve it.

To address this, we introduce a faster RCNN-based approach, termed QAGA-Net, which significantly enhances the performance of ViT detectors in RSI recognition. Initially, we propose a novel quantitative augmentation learning (QAL) strategy to address the sparse data distribution in RSIs. This strategy is integrated as the QAL module, a plug-and-play component active exclusively during the model’s training phase. Subsequently, we enhanced the feature pyramid network (FPN) by introducing two efficient modules: a global attention (GA) module to model long-range feature dependencies and enhance multi-scale information fusion, and an efficient pooling (EP) module to optimize the model’s capability to understand both high and low frequency information. Importantly, QAGA-Net has a compact model size and achieves a balance between computational efficiency and accuracy.

We verified the performance of QAGA-Net by using two different efficient ViT models as the detector’s backbone. Extensive experiments on the NWPU-10 and DIOR20 datasets demonstrate that QAGA-Net achieves superior accuracy compared to 23 other ViT or CNN methods in the literature. Specifically, QAGA-Net shows an increase in mAP by 2.1% or 2.6% on the challenging DIOR20 dataset when compared to the top-ranked CNN or ViT detectors, respectively.

This paper highlights the impact of sparse data distribution on ViT detection performance. To address this, we introduce a fundamentally data-driven approach: the QAL module. Additionally, we introduced two efficient modules to enhance the performance of FPN. More importantly, our strategy has the potential to collaborate with other ViT detectors, as the proposed method does not require any structural modifications to the ViT backbone.

This study investigates the heterogeneous impact of R&D capital market distortions (CMDs) on the quantity and quality of innovation in Chinese firms by exploring key pathways from a dual-arbitrage perspective.

Using data from Chinese A-share listed companies (2015–2021), we employ a multidimensional fixed effects model to validate the research hypotheses. Under the Systems of National Accounts (SNA, 2008) framework, we use the Bureau of Economic Analysis method to estimate enterprise R&D capital stock and the Cobb-Douglas production function to estimate R&D CMDs.

Results show that R&D CMDs drive firms toward strategic innovation, emphasizing quantity over quality. Policy arbitrage, including policy catering and rent-seeking, emerges as a pivotal mechanism under R&D CMDs, encouraging firms to prioritize quantity over quality in innovation. High-technology firms and those in the decline stage are more inclined to spearhead strategic innovation within the context of R&D CMDs.

These findings help policymakers promote high-quality innovation in Chinese enterprises by enhancing patent review mechanisms and shifting policies from quantity-driven to quality-oriented goals.

This study enriches the research on factor market distortions and innovation in emerging markets from the perspective of R&D CMDs, based on the “emerging + transitional” comprehensive framework. Unlike previous studies, which generally use enterprise R&D expenditure flow data, we apply the theory of R&D capitalization accounting to the micro-enterprise level under the SNA (2008) framework, enhancing the accuracy of R&D CMD estimations.

This paper aims to solve the problem that multiscale dispersion entropy (MDE) is prone to information loss in the process of coarse-grain, which makes it difficult to extract bearing fault information comprehensively.

A new fault diagnosis method of rolling bearing using refined composite multiscale peak-to-peak normalized dispersion entropy (RCMPNDE) and sparrow search algorithm optimized probabilistic neural network (SSA-PNN) is proposed. First, coarse-graining employs the peak-to-peak value calculation instead of the segmented mean calculation in the RCMDE algorithm, which can overcome the shortcomings of traditional coarse-graining and highlight the fault characteristics. Then, the influence of the selection of different parameters is reduced through the normalization operation, and the RCMPNDE is formed. Finally, the extracted feature parameters are combined with SSA-PNN for diagnosis recognition to construct the RCMPNDE-SSA-PNN fault diagnosis method.

The proposed RCMPNDE-SSA-PNN fault diagnosis method is tested on actual data sets and its outcomes have been compared to those generated by methods built upon MDE, RCMDE and PNN. The comparison results showed that the proposed method can extract the fault feature information of rolling bearings more accurately and improve the accuracy of fault classification. The recognition accuracy reached 98.5% under the conditions of this experiment.

The RCMPNDE-SSA-PNN method can obtain more accurate fault diagnosis accuracy and provide a new reliable diagnosis method for rolling bearing fault diagnosis.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-09-2024-0332/

In the practice of live streaming e-commerce, the consumer demand is usually uncertain, and the inventory and prices can be decided by brand owners or streamers. To this end, this study examines the inventory and pricing decisions of the brand owner and streamer in a live streaming e-commerce supply chain under demand uncertainty.

In this study, four scenarios are considered, i.e. the brand owner determines the inventory and price (Scenario BB), the brand owner determines the inventory and the streamer determines the price (Scenario BS), the streamer determines the inventory and the brand owner determines the price (Scenario SB), and the streamer determines the inventory and price (Scenario SS).

The results show that the inventory and prices, as well as the profits of the brand owner and streamer increase with the consumer sensitivity to streamer’s sales effort level under the four scenarios. The inventory (price) is the highest under Scenario SS (SB), while that is the lowest under Scenario BB (BS). In addition, when the sensitivity is low, the brand owner’s profit is the highest under Scenario BB, otherwise, the profit is the highest under Scenario SS. Regardless of the sensitivity, the streamer’s profit is always the highest under Scenario SS.

Few studies focused on the inventory and pricing decisions of brand owners and streamers in live streaming e-commerce supply chains under demand uncertainty, while this work bridges the research gap. This study can provide theoretical basis and decision support for brand owners and streamers.

To deepen the structural reform of the financial system on the supply side and mitigate associated risks in the economic and financial fields, with significant practical implications for FinTech development.

Based on microdata of listed companies, this paper constructs multi-level indicators of FinTech development. Robustness tests include alternative measures of the degree of long-term use of short-term debts, sample adjustments and heterogeneity in firm characteristics and regional differences.

FinTech can significantly alleviate the long-term use of short-term corporate debt, although there are heterogeneous effects. The alleviation effect is more pronounced for state-owned enterprises, non-technology-intensive enterprises and other companies with lower levels of short-term debt maturity. Additionally, in regions with high capital mismatch and high levels of financial development, FinTech exhibits a significant suppressive effect on the long-term use of short-term corporate debt.

The paper suggests promoting the diversification of FinTech products, emphasizing the importance of inclusive finance through FinTech, and driving China’s economic transformation and high-quality development.

By constructing a theoretical analysis framework of “FinTech—corporate investment and financing term mismatch,” this paper provides a multi-level estimation of the factors influencing FinTech’s impact on the long-term use of short-term corporate debt. This framework aids in developing a more dialectical and objective understanding of the economic effects of FinTech’s development.

The high-load operation of the engine crankshaft causes severe wear and fatigue. This study aims to prepare in situ textures with effective density and study their wear mechanism on the surface of ductile cast iron, which optimizes the tribological properties of engine crankshafts and reduces wear.

A new method was proposed based on the hardness difference in graphite removal to form an in situ texture. The friction performance was evaluated using a combination of computational fluid dynamics and tribological testings. The influence of the texture characteristic parameters on the bearing capacity of the oil film was analyzed. The surface wear morphology was studied by scanning electron microscopy.

The texture density significantly affected the oil film bearing capacity. The surface texture can reduce the average friction coefficient (COF) by more than 35% owing to the oil film bearing and storage capacity. Specifically, the 13% texture density exhibited the lowest wear rate and COF under all three experimental conditions. The reduction in abrasive particles in the wear area of the textured surface indicates that the surface texture can improve the lubrication mechanism.

This study systematically explored the influence of the weight of each model parameter on tribological properties. Subsequently, focusing on the critical parameter (texture density), detailed tribological testings were carried out to reveal the specific effect of texture density on the wear mechanism under different working conditions, and the optimal texture density to achieve the optimal tribological performance was determined accordingly.

The article focuses on cross-sectoral analysis concerning services, especially ICT services, flowing from China to European manufacturing. The aim of the study is to analyse Sino-European relations in terms of ICT servicification. The article attempts to answer the following questions: does China’s relationship with Europe in terms of the servicification of manufacturing align with global servicification trends? Have global economic shocks, such as decoupling policies, diminished the flows of Chinese ICT services in European advanced manufacturing sectors?

This study employed input–output models to analyse the increasing role of China as a supplier of ICT services to European manufacturing. It also identified the industries that are most dependent on Chinese ICT services.

The analysis highlights the increasing reliance of European manufacturing on Chinese ICT services, with a notable rise across both Western Europe and CEE. This dependency is particularly strong in advanced sectors such as automotive and electronics, and there is no evidence of decoupling from China, even amidst global shocks or geopolitical tensions like the Trump presidency. Additionally, the BRI had limited direct impact, as the servicification trends appear driven more by broader globalization processes.

The study investigates all European countries and their manufacturing sectors’ reliance on Chinese services. It concentrates on services related to high technology, specifically ICT. Moreover, the previous research has focused on servicification of manufacturing, in general, neglecting industry-specific analysis. It contributes to the literature by providing insights into the relationships between developing and developed economies in terms of GVCs in the context of digital servicification and decoupling conditions.

This research paper examines the complex interplay of trust, corruption, and governance during the COVID-19 pandemic, analysing how these sociopolitical factors influence public health outcomes. Utilising the Generalised Additive Model (GAM) for Corruption Risk and Trust, the study provides a fresh perspective on the pandemic’s multifaceted impact, extending beyond traditional biomedical approaches. Through an in-depth analysis of global data, the paper unveils the intricate links between public confidence in government and the perceived integrity of political systems, highlighting how these elements affect the pandemic’s fatality rates. It also sheds light on the role of misinformation and politicisation in moulding public perceptions and responses to the crisis. This work offers a crucial viewpoint for understanding the ongoing challenges posed by COVID-19, emphasising the critical need for transparent and reliable governance in managing public health emergencies. The findings underscore the significant influence of governance quality, societal trust, and corruption on health crises. Contributing to the broader discussion on the interaction between political, social, and health factors during emergencies, this study has important implications for policymakers, health professionals, and the international community.