The South Pacific has experienced a remarkable proliferation of Marine Managed Areas in the last decade. These protected areas, implemented by over 500 communities spanning 15 independent countries and territories represent a unique global achievement. The approaches being developed at national...

Bansal and Yaron (2004) demonstrate, by calibration, that the Consumption-Based Capital Asset Pricing Model (CCAPM) can be rescued by assuming that consumption growth rate follows a stochastic volatility model. They show that the conditional equity premium is a linear function of conditional...

Since banks are among the most important sources not only of finance but also of external governance for firms, the corporate governance of banks is a crucial factor for growth and development. Despite its importance, this topic has been explored only by a few studies. While some authors...

With the emergence of new technologies, innovative financial instruments and the integration of global market operations national accountants are confronted with a series of new challenges and complexities in determining the output of financial institutions. The SNA93 recommended measure, the...

This research paper empirically shows that unemployment is significant in determining both consumer bankruptcy filings and delinquency even after controlling for household demographics. Furthermore, I show that unemployment and the debt/wealth ratio also affect the choice of whether to file for...

This study empirically identifies factors that influenced geographic differentials in the bank closing rate in the United States over the period 1982 through 1990. Given the presence of censored data, the model adopts the tobit estimation procedure. The bank closing rate in a state is found to...