Benjamin S. Halpern* and Robert R. Warner Department of Ecology, Evolution, and Marine Biology, University of California, Santa Barbara, CA, 93106, U.S.A. *Correspondence: E-mail: [email protected] Abstract Marine reserves are becoming a popular tool for marine conservation and resource management worldwide. In the past, reserves have been created with little understanding of how they ac...

We present a model that reproduces two salient facts characterizing the international monetary system: Fast growing emerging countries i) run current account surpluses, ii) accumulate reserves and receive net private inflows. study two-sector, tradable non-tradable, small open economy. There is growth externality in sector agents have imperfect access to financial markets. By accumulating forei...

Models for marine reserve design have been developed primarily with 'reef fish' life histories in mind: sedentary adults in patches connected by larval dispersal. However, many fished species undertake ontogenetic migrations, such as from nursery grounds to adult spawning habitats, and current theory does not fully address the range of reserve options posed by that situation. I modelled a gener...

This paper examines the value relevance of Local Accounting Standards (LAS) earnings and their voluntarily disclosed reconciliations to the International Accounting Standards (IAS). The empirical evidence is from Finland where, as discussed in our paper, restricted shares (available only to domestic investors) and unrestricted shares (available to both foreign and domestic investors) were liste...

Debate over the consequences of marine reserve implementation has long focused on tradeoffs between ecological improvements from reserves and possible economic losses from reduced harvest. More recently, several articles suggest instead that reserves might generate economic as well as ecological benefits (1; 2; 3; 4). In particular Hastings and Botsford demonstrate that, even without any ecolog...

Conditional Value-at-Risk Constrained Optimization of a Power Portfolio Published in International Journal of Applied Decision Sciences • A predictive and risk analytics tool guiding cash management of warranty reserves, covering contingent liabilities. • Finding a balance between excess reserves causing opportunity cost, and not enough reserves necessitating emergency funds. • The decision mak...

Unpredictable environmental fluctuations are a major problem in fisheries. To mitigate these uncertainties, reserves are advocated to help ensure population persistence, reduce population and harvest variance, provide a ‘hedge’ against management failures and increase resilience. Using recent insights from the modelling of marine reserves, we propose a six-step process for establishing and adap...

The present study attempts to empirically examine the determinants of FDI in India by taking time series data for the period 1992-93 to 2008-09. It applies Ordinary Least Square (OLS) method for this purpose. The empirical results indicate that GDP, inflation and Trade Openness are important factors in attracting FDI inflows in India during postreform period whereas Foreign Exchange Reserves ar...

This paper investigates currency and financial crises in an optimizing general equilibrium model. It is shown that a rise in current and expected future budget deficits generates a real exchange rate appreciation and a decumulation of external assets, leading up to a currency crisis when foreign reserves approximate a critical level. Strong empirical support for our model is obtained by a probi...