Author: Evangelos Vasileiou ABSTRACT The purpose of this paper is to suggest a new approach that improves the conventional Historical Value-at-Risk (HVaR) estimations’ accuracy and can be easily applied by anyone. The main assumption for the newly suggested method is … Continue reading
Author: Yunyun Lv ABSTRACT The main distinction between this paper and traditional approach is the assumption that variables affect the economy through different horizons. Under this alternative hypothesis, a variable considered as an unimportant detail from a short-horizon perspective may … Continue reading
Author: Balbir S. Sihag ABSTRACT In the wake of the recent Great recession of 2008-9, prudential supervision and “too-big-to-fail” have become the focal topics of discussion and policy. Western countries have added prudential supervision to complement the traditional regulatory approach … Continue reading
Author(s): Amitrajeet A. Batabyal, Seung Jick Yoo ABSTRACT In this note we study a simple game model of effort application by two individuals (1 and 2) who wish to have an arranged marriage. We first specify the net utility function … Continue reading
Author(s)： Guenther Sandleben ABSTRACT By drawing on his critically developed labour theory of value, Marx was able to provide a satisfactory answer to the question of unequal exchange—that is, the question of how the law of value regulates exchange between … Continue reading
Author(s) ： Amanjot Singh, Parneet Kaur ABSTRACT The present study attempts to empirically analyze the co-movement in the BRIC countries’ stock markets in the long run by employing a Johansen cointegration technique. We have divided the sample period into two … Continue reading
Author(s)： Xingwu Zheng, Yi Zhang, Wei Lu ABSTRACT China’s civil aviation industry experienced an average annual growth rate of over 16% for traffic turnover during 1955-2011. It is important to identify the role of capital and labor inputs as well … Continue reading
Author：Frederick Betz ABSTRACT Financial instability in Greece began in 2009 when the interest rates on Greek sovereign bonds surged; and this can be graphed in a “price disequilibrium” model. To explain how this came about, we create a systems-dynamics model … Continue reading
Author(s)：Anichul Hoque Khan, Hasnat Dewan ABSTRACT This study measures the severity of a banking crisis by using its duration and the cost. Using this new methodology, we find that the factors associated with a severe banking crisis are not quite … Continue reading
Author(s)： Xinyue Bei1, Yanjia Yang2, Liuling Li3, Bruce Mizrach4 ABSTRACT In this paper, the effect of Index Futures on stock market is studied. A new model, which is based on the 3-factor model in Fama and French (1993), the EGARCH-type … Continue reading