Статья посвящена проблеме изучения сути и причин эволюции банковских систем, формированию основных направлений исследований данного процесса в рамках единой...

One reason why countries service their external debts is the fear that default might lead to shrinkage of international trade. If so, then creditors should systematically lend more to countries with which they share closer trade links. We develop a simple theoretical model to capture this...

Much progress has been made in recent years on developing and applying a direct measure of utility using survey questions on subjective well-being. In this paper we explore whether this new type of measurement can be fruitfully applied to the study of interdependent utility in general, and...

We evaluate how deviations from normality may affect the allocation of assets. A Taylor expansion of expected utility allows us to focus on certain moments and to compute numerically the optimal portfolio allocation. A decisive advantage of our approach is that it remains operational even if a...

The constant-relative-risk-aversion (CRRA) utility function is now predominantly used in quantitative macroeconomic studies. This function, however, is not bounded and thus creates problems when applying the standard tools of dynamic programming. This paper devises a method for "bounding" the...

Цель исследований найти оптимальное сочетание глубины контроля качества продукции и затрат на процесс контроля качества. Построена модель контроля качества,...

Предпринимательство как форма рыночных отношений высокорисковый вид деятельности. Универсальным средством снижения риска является уклонение от риска с...