Recently the world economy was confronted to the worst financial crisis since the great depression. This unprecedented crisis started in mid-2007 had a huge impact on the European government bond market. But, what are the main drivers of this “perfect storm” that since 2009 affects EU government bond market as well? To answer this question, we propose an empirical study of the determinants of t...

this study examines technical efficiency in iran's banking system using unbalanced panel data for 17 state and private banks during the 1997-2009 period. therefore, technical efficiency of banks was measured through estimating a translog cost function in the form of a panel sfa error compound model. then, the effect of underlying factors including both individual and structural (ownership/...

explanation relation between risk and return and capital asset pricing are concepts which is appointed as dominator and major paradigms in capital markets. so far as after offering capm by sharp & lintner, this model has been revised and criticized frequently. in this paper another version of capm has been tested versus traditional capm in tehran stock exchange. this version of capm measures se...

Recently, a new resolve for both increased economic integration and monetary and exchange rate cooperation has started to emerge in ASEAN, especially since the 19971998 Asian financial crisis. According to the optimum currency area theory, the degree of trade integration is one most important criterion for joining a currency union. The large increase in intra-ASEAN trade in recent years natural...

abstract the aim of this study was to selecting the suitable model for forecast land, production and price of sugar beet in iran. for this purpose, models applied to forecast are arima, single and double exponential smoothing, harmonic, artificial neural network and arch for period 1993-2008. results of durbin-watson tests, land, production and price of sugar beet series were found non stochast...

on one hand, oil is the greatest energy resource in the world and, on the other hand, because of the role of oil revenue in the economic of oil producer countries, such as iran,it is vital for these countries. so it is necessary to recognize different affective parameters on oil market for these countries. in this research, we try to forecast oil price as an important variable in world wide oil...

We present a proof of the existence and uniqueness theorem of a normalizing biholomorphic mapping to Chern-Moser normal form. The explicit form of the equation of a chain on a real hyperquadric is obtained. There exists a family of normal forms of real hypersurfaces including Chern-Moser normal form. 0. Introduction Let M be an analytic real hypersurface with nondegenerate Levi form in a comple...

One of the most important methods employed to measure the market risk is value at risk calculation method. In this study, the value at risk of banks listed on the Tehran Stock Exchange and Over-the-counter (OTC) are calculated using parametric model, Monte Carlo simulation, historical simulation and Two-Sided Power (TSP) Distribution. The sample includes all listed banks in Iran. The results sh...

This study shows that the informativity for identification of partially observable systems is equivalent to designing dynamical measurement-feedback stabilizers. finding entirely different from input-state case, where direct data-driven design state-feedback stabilizers requires less than system identification. We derive equivalence between two types based on a newly introduced vector autoregre...

The present paper thoroughly explores second-best efficient allocations in an adverse selection insurance economy. We start from a natural extension of the classical model, assuming less than perfect risk perceptions. We propose first and second welfare theorems, by means of which we describe efficiencyenhancing policies. Notions of weak and strong adverse selection are promising for interpreti...