Background: How to cope with the rapid growth of LTC (long-term care) needs for the old people without activities of daily living (ADL), which is also a serious hazard caused by public health emergencies such as COVID-2019 and SARS (2003), has become an urgent task in China, Germany, Japan, and other aging countries. As a response, the LTCI (longterm care insurance) system has been executed among European countries and piloted in 15 cities of China in 2016. Subsequently, the influence and dilemma of LTCI system have become a hot academic topic in the past 20 years.Methods: The review was carried out to reveal the effects of the LTCI system on different economic entities by reviewing relevantliterature published from January 2008 to September 2019. The quality of 25 quantitative and 24 qualitative articles was evaluated using the JBI and CASP critical evaluation checklist, respectively. Results: The review systematically examines the effects of the LTCI system on different microeconomic entities such as caretakers or their families and macroeconomic entities such as government spending. The results show that the LTCI system has a great impact on social welfare. For example, LTCI has a positive effect on the health and life quality of the disabled elderly. However, the role of LTCI in alleviating the financial burden on families with the disabled elderly may be limited. Conclusion: Implementation of LTCI system not only in reducing the physical and mental health problems of health care recipients and providers, and the economic burden of their families, but also promote the development of health care service industry and further improvement of the health care system. However, the dilemma and sustainable development of the LTCI system is the government needs to focus on in the future due to the sustainability of its funding sources.

Skewness preference, the tendency to overweight the probability of extreme tail events, can affect managerial decision making. We find that Chinese listed firms managed by CEOs who experienced a largely unpredictable rare event, namely the outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003, during their earlier executive careers have lower stock price crash risk measured by negative skewness. This effect especially matters for CEOs whose experienced events are more salient. Furthermore, professional epidemic experience induces CEOs to deter stock price crashes through altering financial reporting strategies. Overall, entrepreneurs’ skewness preference can reduce the negative skewness of stock returns.

This paper assesses the impact of the severe acute respiratory syndrome (SARS) on the stock market of China. Our results indicate that the Chinese stock market reacts rapidly to the SARS epidemic. We provide strong empirical evidence that the epidemic has an immediate impact on the pharmaceutical and tourism industries. In particular, pharmaceutical companies are benefited from the outbreak of SARS, while the tourism sector is adversely affected. Our results imply the existence of a profitable trading rule during an epidemic.

透明化已经蔚为世界范围内中央银行制度变革的基本趋势之一。随着我国中央银行制度的建立健全，人民银行的目标透明度、操作透明度、知识透明度稳步提高。2001年加入WTO和2003年SARS危机积极推动我国的治道变革。目前，人民银行透明度与《货币和金融政策透明度良好行为准则：原则宣言》、《货币和金融政策透明度良好行为准则辅助文件》等国际标准还有较大差距，是今后我国中央银行法制建设的重点。

在短期SARS疫情确实对中国股票市场造成了较大冲击在中长期由于中国基本经济趋势将步入新的景气循环股票市场向上的趋势没有改变但由于SASR疫情对宏观经济增长产生了负面作用并且影响具有不确定性这将对股票市场的中长期趋势产生压制性作用由于短期冲击已为市场所消化长期影响程度不明确政府在目前可以采取宽松货币的措施而不宜采取直接针对股票市场的政策行动。