This paper presents a stylized exchange rate pass-through model of crude oil price formation for the purpose of understanding the price reactions of OPEC Member Countries to changes in the exchange rate of the US dollar against major currencies and the prices of other Members. Our empirical...

This study examines the effects of changes in the exchange rate of the U.S. dollar on the trade balances of three oil-exporting countries, Iran, Venezuela, and Saudi Arabia. An exchange rate pass-through model is applied to allow changes in the exchange rate of the dollar to affect prices of...

This paper adapts a multinomial logit model to obtain the parameter estimates of demand with multiple choices for medical care services in the urban areas of Iran. The objective is to verify the effectiveness of the cost recovery policy by the Medical Services Insurance Organization of Iran. The...

This study examines whether, and to what extent, information and communication technology (ICT) has helped to improve economic growth. We adopt the traditional growth model as a framework to estimate contributions of labor, ICT, and non-ICT capital to economic growth in developed and developing...

The limiting distributions of two unit-root test statistics are derived and discussed for data that have both cross-sectional and time-series dimensions.

We study the problem of ?finding the worst-case joint distribution of a set of risk factors given prescribed multivariate marginals and a nonlinear loss function. We show that when the risk measure is CVaR, and the distributions are discretized, the problem can be conveniently solved using...

Numerical challenges inherent in algorithms for computing worst Value-at-Risk in homogeneous portfolios are identified and words of warning concerning their implementation are raised. Furthermore, both conceptual and computational improvements to the Rearrangement Algorithm for approximating...