Single index financial market models cannot account for the empirically observed complex interactions between shares in a market. We describe a multi-share financial market model and compare characteristics of the volatility, that is the standard deviation of the price fluctuations, with empirical characteristics. In particular we find its probability distribution is similar to a log normal dis...

Bernanke (2005) hypothesized that a "global savings glut" was causing large trade imbalances. However, we show that the global savings rates did not show a robust upward trend during the relevant period. Moreover, if there had been a global savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries experienced consumption booms. ...

This paper aims to construct a bi-directional, financial liberalization index for Pakistan by considering various policy indicators (reforms). study, employing the principal component analysis method over period of 1980–2018 (39 years), determine composite outcome in case developing index. study uses 14 investigate degree specified time period. The present suggests real-time change implementati...