There are a lot of studies that test Ballasa-Samuelson hypothesis also known as Harrod Balassa-Samuelson effect directly via the effect of productivity, one possible explanation is that PER Capita GDP is not good explanation for productivity (.i.e. Labor productivity) differences; an increase...

Since stock markets are volatile, dynamic and complicated, forecasting stock market return is considered as a challenging task. Nevertheless, researchers have developed various linear and non linear methods for effective forecasting. Among these neural networks are most suitable for forecasting...

Since the United Kingdom has traditionally been one of the most important sources of tourism for Spain, an in-depth knowledge of the main determinants of the demand may be useful for policy-makers and agents of the industry. In this paper, a dynamic model is used to examine British demand for...

This paper considers a paradigm financial markets trades booking and valuation, data subscription and portfolio revaluation system. Traded instruments covered include: spot and forward exchange rates (FX); credit default swaps (CDS); total return swaps (TRS); commodity and bond futures; traded...

This paper discusses briefly Adam Smith metaphoric use of the “invisible hand” chapter of Wealth of Nations and shows his use of the famous metaphor conforms to the proper role of metaphors in English grammar, as he taught his students. It also comments on the role of self-interest in...

There haven't been any significant improvements in terms of credit delivery to the members of self-help groups under Mission Convergence as the numbers of loans haven't increased much. There are signs of weariness in the Mission regarding the same and several meetings have been called to address...

This paper models the volatility present in the historical returns in the stock of the two major national indices of India. Sensitive Index or Sensex related to Bombay Stock Exchange (BSE) and Nifty associated with National Stock Exchange (NSE). The objective is to model the phenomena of...

In this paper, we proposed to present a no-academic model , the SPM, which perform a good 'perfect' calibration of the smile. Between the Black and Scholes and the Local Vol, the SPM was developed a decade ago. In the first part, we present the classic implementation then in a second part we...

The first two chapters of Haavelmo's ‘Probability Approach' provide a very rich epistemological framework for understanding what it entails to finds laws outside the laboratory. Even though these laws will be inexact, a framework was developed to specify for which conditions laws could be...

From the early 1960s onwards, Arnold Zellner has been publishing papers in the areas of statistical theory, econometric applications and macroeconomic modelling. This conversation canvasses Zellner's transition from physics to economics, the reason for the renewal of interest in Bayes's theorem...