In this paper, we propose improved IV/GMM estimators for panel vector autoregressive models by extending Hayakawa (2009) where an alternative form of instruments is suggested. We show that the proposed IV estimator has the same asymptotic distribution as the bias corrected maximum likelihood estimator by Hahn and Kuersteiner (2002). Since the proposed estimator is simply change the form of inst...

Email has met tremendous popularity over the past few years. People are sending and receiving many messages per day, communicating with partners and friends, or exchanging files and information. Unfortunately, the phenomenon of email overload has grown over the past years becoming a personal headache for users and a financial issue for companies. In this chapter, we will discuss how disciplines...

Michael Woodford’s paper “Inflation Targeting and Financial Stability” presents a case for tighter monetary policy, “leaning against the wind,” in order to reduce the probability of a financial crisis. However, the introduction of financial-stability instruments (macroprudential instruments) that have a more direct effect on leverage than the policy rate allows monetary-policy and financial-sta...

Many musical instruments have interfaces which emphasise the pitch of the sound produced over other perceptual characteristics, such as its timbre. This is at odds with the musical developments of the last century. In this paper, we introduce a method for replacing the interface of musical instruments (both conventional and unconventional) with a more flexible interface which can present the in...

nowadays, because of the economic circumstances of our society, on one hand many persons are eligible to borrow the qarz al’hasan loan and on the other hand there are not sufficient funds to for paying to the qarz al’hasan loan applicants. but the qarz al’hasan bank has been instituted to expand and promote the culture of qarz al’hasan and also to answer the poor’s financial needs in the societ...

The purpose of this study is to determine the effect financial literacy on investment decision-making in capital market for Indonesia’s millennial generation. Investment instruments available have a relatively higher risk compared conventional instruments, such as deposits money market, where invest investors must believe that they understand transaction mechanism and are ready assume risks inv...

T he most important recent developments in bank regulation are based on capital requirements. For example, the Basle Accord of 1988 specifies that bank capital must be at least 8 percent of a bank’s risk-weighted assets.1 Also, the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) requires regulators to shut down a bank whose capital has dropped below a cutoff level. While ...

since some of the institutions and instruments in iran are different from those in other countries it appears to he a difficult task to find equivalent terminology in farsi for financial terms abused in english and french. by the same token ,direct translation of the western financial jargons to farsi results in misunderstanding at best and confusion at worst, we have asked hossein abdeh tabriz...

since some of the institutions and instruments in iran are different from those in other countries it appears to he a difficult task to find equivalent terminology in farsi fur financial terms applied in english and french. by the same t o k e n. direct translation of the western financial jargons t o farsi results in misunderstanding at best and confusion at worst. we have asked hosseein abdoh...

For many individuals and organizations, cyber-insurance is the most practical and only way of handling a major financial impact of an information security event. However, the cyber-insurance market suffers from the problem of information asymmetry, lack of product diversity, illiquidity, high transaction cost, and so on. On the other hand, in theory, capital market-based financial instruments c...