This paper develops an efficient and accurate method for numerical evaluation of the integral equation which defines the American put option value function. Numerical integration using Gaussian quadrature and function approximation using Chebyshev polynomials are combined to evaluate recursive...

This paper analyzes the special character of currency risks associated with equity investments in emerging capital markets. Such investments are an important and growing source of funds for financing projects which contribute to the rapid pace of growth in emerging markets. While investors in...