This paper investigates the valuation of currency options when the underlying currency follows a mean-reverting lognormal process with multi-scale stochastic volatility. A closed-form solution is derived for the characteristic function of the log-asset price. European options can then be valued...

The introduction of the common currency in the Euro zone has led to a shift in factor importance from country to industry effects. Nevertheless, there is overwhelming evidence that the recent spate of crises has engendered a reversal in factor importance, returning it to country effect. This...

Although numerous studies investigate how student achievement is impacted by educational vouchers and charter schools, there appears to be no research on how these programs impact the surrounding environment. This study examines residential relocation of families whose children attend a charter...