Recent empirical results about the US term structure are difficult to reconcile with the classical hypothesis of rational expectations even if time-varying but stationary term premia are allowed for. A hypothesis of rational learning about the conditional variance of the log pricing kernel is...

This paper establishes a link between a countries economic performance as measured by Gross National Product (GNP) and a compound measure of Transparency, Corruption Perceptions Index (CPI), and (TI 2002). CPI is a measurement that should provide an indication as to a countries reputation in the...

The follow market analysis is a research based on the fruit,vegetable and flower(organic produce) division of the Hötorget market,Stockholm,Sweden. The institutional analysis perspective has been employed based on which the relation of Hötorget market to Saluhallsförvaltningen,...

We establish a maximal moment inequality for the weighted sum of a long- range dependent process. An extension to H$\acute{a}$jek-R$\acute{e}$ny and Chow's type inequality is then obtained. It enables us to deduce a strong law for the weighted sum of a stationary long-range dependent time...

The transition from a planned to a market oriented economy requires a complex amalgam of stabilization, liberalization and privatization policies. This paper outlines a combination of policies believed to be necessary, if not sufficient to enlist the efficiency of market mechanisms along with a...

In this contribution we illustrate various applications of a behavioural microsimulation model that we have been developing during the last years. Behavioural models are complex and costly tools to develop, use and maintain, but also very powerful ones as we wish to show through the examples...

The present paper analyzes the phenomenon of corruption in the context of a Public Works Department (PWD) in a developing country city and examines its tenacity in the face of anticorruption measures. Different behaviour patterns of the supervisor (official) of the PWD have been considered. The...

The main goal of this paper is to analyze the nature of long-term liquidity contracts that arise between lenders and borrowers in the absence of perfect enforceability and when both parties are financially constrained. We study an infinite horizon dynamic contracting model between a borrower and...