Evaluative conditioning (EC) effects are often assumed to be based on a learned mental link between the CS (conditioned stimulus) and the US (unconditioned stimulus). We demonstrate that this link is not the only one that can underlie EC effects, but that if evaluative responses are actually given during the learning phase also a direct link between the CS and an evaluative response-a CS-ER lin...

We build a monetary model to show how expected revaluations lead to the instability of a pegged exchange rate regime. This model assumes current account convertibility and some degree of capital control, and fundamentally sound domestic policies and economy, as is the case in China. The model demonstrates that market-oriented interest rates can act as an automatic stabilizer to ease revaluation...

In value-at-risk (VaR) methodology of option risk measurement, the determination of market values of the current option positions under various market scenarios is critical. Under the full revaluation and factor sensitivity approach which are accepted by regulators, accurate revaluation and precise factor sensitivity calculation of options in response to significant moves in market variables ar...