The yuan-dollar returns prior to the 2005 revaluation show a Sierpinski triangle in an iterated function system clumpiness test. Yet the fractal vanishes after the revaluation. The Sierpinski commonly emerges in the chaos game, where randomness coexists with deterministic rules [2, 3]. Here it...

The concept of international tradable carbon permits has been discussed in scientific circles for over ten years. Since mid 1996, however, it has become a subject of more than just academic interest. The main reason for this change is to be found in the U.S. Draft Protocol to the Framework...

The purpose of the paper is to analyze mobile payments in the mobile commerce scenario. Therefore, we first classify the mobile payment in the mobile commerce scenario by explaining general offer models, charging concepts, and intermediaries. Second, we describe the mobile payment reference...

Recent literature on financial development and growth has highlighted the possibility of endogenous business cycles arising for particular levels of a given credit multiplier. These studies concentrate on loans directed to the productive activity and neglect the role of credit to consumption. In...

Growth rate of real GDP per capita is represented as a sum of two components – a monotonically decreasing economic trend and fluctuations related to a specific age population change. The economic trend is modeled by an inverse function of real GDP per capita with a numerator potentially...

The paper deals with the application of the basic indicator of evaluating profitability in the context with alternative costs. The aim of this paper is the evaluation of the efficiency of handling financial means of stockholders with companies traded on the stock exchange by means of the basic...

Within the economic policies implemented by the six Economy Ministers of the Peronist government of 1973-1976 there exist two cases in which shock policies or shock adjustments were done with the aim to correct the problems that the Argentinean economy was suffering. those were the shock...

This paper reports the findings of a systematic study using Monte Carlo experiments and a real dataset aimed at comparing the performance of various ways of specifying random taste heterogeneity in a discrete choice model. Specifically, the analysis compares the performance of two recent...

The article shows that reservations in Europe against Turkey's future membership are really groundless. A Muslim nation already was a member of the EU: Algeria. When Algeria was still a colony, it joined the EU (then: European Economic Community) on January 1st 1958 as a French "Departement",...

In the conventional view of inflation, the New Keynesian Phillips curve (NKPC) captures most of the persistence in inflation. The sources of persistence are twofold. First, the "driving process" for inflation is quite persistent, and the NKPC implies that inflation must "inherit" this...