Showing 1 - 10 of 107
A branching random motion on a line, with abrupt changes of direction, is studied. The branching mechanism, being independient of random motion, and intensities of reverses are defined by a particle's current direction. A soluton of a certain hyperbolic system of coupled non-linear equations...
Persistent link: https://www.econbiz.de/10005769444
In this paper we overcome a lacks of Black-Scholes model, i.e. the infinite propagation velocity, the infinitely large asset prices etc. The proposed model is based on the telegraph process with jumps. The option price formula is derived.
Persistent link: https://www.econbiz.de/10005466581
In this paper we develop a financial market model based on continuous time random motions with alternating constant velocities and with jumps occurrng when the velocity switches. If jump directions are in the certain correspondence with the velocity directions of the underlyig random motion with...
Persistent link: https://www.econbiz.de/10005466588
This survey provides a broad overview of the theory of economicintegration from the standpoint of Customs Union theory. It arguesthat Customs Union theory, as such, lacks integration and that thereappears to be no clear possibility that recent developments in the areawill solve this failure. In...
Persistent link: https://www.econbiz.de/10005769426
Se presentan los principales resultados de la Encuesta de Calidad de Vida de 2003 sobre los servicios públicos domiciliarios y los servicios sociales en Colombia. El análisis se hace comparativo con el año 1993 y 1997 tanto a nivel geográfico como a nivel socioeconómico. Se encuentra que a...
Persistent link: https://www.econbiz.de/10005769427
El presente documento se propone estimar y analizar la existencia de una relación de equilibrio de largo plazo entre la producción industrial y la importación de bienes de capital y materias primas para el período enero de 1993 - abril de 2005, que resulta útil para monitorear la dinámica...
Persistent link: https://www.econbiz.de/10005769428
ABSTRACT This paper tries to find empirical evidence of the health determinants, as a measure of health capital in a developing country after a deep reform of its health-care sector. It follows the Grossman model (1972) and also takes, besides individual and socioeconomic variables,...
Persistent link: https://www.econbiz.de/10005769429
Desde la perspectiva del comercio internacional la prestación de servicios, en particular la de servicios públicos, ha sido un tema reciente. En el caso de la educación este tema se consideraba tradicionalmente como una actividad propia del Estado, asociada al concepto de servicio público....
Persistent link: https://www.econbiz.de/10005769430
We examine the effects of seasonal adjustment filters on the size and power of ADF and PP residual-based cointegration tests via a Monte Carlo and an empirical application. Our results indicate that the use of filters distorts the size and reduces the power of these tests.
Persistent link: https://www.econbiz.de/10005769431
La literatura económica ha abordado la discusión sobre el crecimiento y la equidad en distintas líneas. La necesidad de tener una sociedad más equitativa es una de las opciones y este escrito intenta aportar nuevas ideas a la discusión dando prioridad a la equidad. Para este efecto,...
Persistent link: https://www.econbiz.de/10005769432