Purpose – In general, the insurance industry accepts large risks due to the frequency and severity of extreme events. Because of the short record on hazard data for such events, a large amount of uncertainty has to be dealt with. Given this large uncertainty it is important to better quantify...

Auf starke Erhöhungen der Tabaksteuer auf Zigaretten haben die Konsumenten zunehmend allergisch reagiert. Im Durchschnitt wurden je potentiellem, Verbraucher anläßlich von Steuererhöhungen bis zu 350 Fabrikzigaretten weniger abgesetzt, dafür bis zu 180 Selbstgedrehte mehr konsumiert....

In this paper, we use firm-level panel data for the manufacturing sector in four African countries to estimate the effect of exporting on efficiency. Measures of firm-level efficiency using stochastic production frontier models are constructed for the period 1992 to 1995. We find that there are...

E-banking is the delivery of banking services through electronic communication. It uses technological methods to provide financial services to consumers. During the course of the paper, the authors seek to explore the legal framework which governs e-banking in India. The present paper has been...

The macroeconomic picture suggests that the only viable option for maintaining a given level of public services for transition countries facing revenue volatility or shortfalls is to optimize public spending so that expenditures may be reduced while minimizing disruptions to the provision of...