This paper investigates the nature of the output-employment relationship by using the Turkish quarterly data for the period from 1988 to 2008. Even though we fail to find a long-run relationship between aggregate output and total employment, there are long-run relationships for the aggregate...

We derive a unified model which gives closed form solutions for caps and floors written on interest rates as well as puts and calls written on zero-coupon bonds. The crucial assumption is that forward rates with a compounding period that matches the contract, which we want to price, is...

This paper constructs a model for the evolution of a risky security that is consistent with a set of observed call option prices. It explicitly treats the fact that only a discrete data set can be observed in practice. The framework is general and allows for state dependent volatility and jumps....

Mit dem Beitritt der zehn neuen Mitgliedsstaaten zur Europäischen Union im Mai 2004 wird sich die bestehende Machtverteilung zwischen den EU-Staaten verändern. Die Erweiterung wird sich auf die Effizienz der Entscheidungsfindung auswirken und deshalb sind weitere institutionelle Reformen...

The economic changes during transition involved a shift away from the planned foreign trade organization within the council for mutual economic assistance. Following a phase of farreaching trade policy liberalization, the agricultural sector in the Central and Eastern European countries (CEEC)...

In diesem Diskussionspapier werden Ergebnisse einer Untersuchung zu den Auswirkungen der EU-Osterweiterung auf den EU-Haushalt im Agrarbereich vorgestellt. Die Berechnungen wurden mit dem am IAMO entwickelten partialen Gleichgewichtsmodell 'Central and Eastern European Countries Agricultural...