We examine using the Stochastic Grid Bundling Method (SGBM) to price a Bermudan swaption driven by a one-factor LIBOR Market Model (LMM). Using a wellknown approximation formula from the finance literature, we implement SGBM with one basis function and show that it is around six times faster than the equivalent Longstaff–Schwartz method. The two methods agree in price to one basis point, and th...

The paper presents recent developments in Morfeusz – a morphological analyser for Polish. The program, being already a fundamental resource for processing Polish, has been reimplemented with some important changes in the tagset, some new options, added information on proper names, and ability to perform simple prefix derivation. The present version of Morfeusz (including its dictionaries) is ma...

We use a standard single-agent model to conduct a simple consumption growth accounting exercise. Consumption growth is driven by news about current and expected future returns on the market portfolio. We impute the residual of consumption growth innovations that cannot be attributed to either news about financial asset returns or future labor income growth to news about expected future returns ...

Existing electronic markets in the open network Internet often show a lack of security and fairness. New forms of trading are just coming up and the variety of different market structures and digital goods we will probably see in the future is yet unthinkable. Therefore, an infrastructure for future electronic markets has to support the realization of different market structures by providing se...

as the conditions in the market and in the world of work and commerce gets more complicated, this requires cor-rection, improvement and also updating marketing attitude among manufacturers and marketers. it is an urgent requirement to choose and determine strategies in order to achieve the objectives. strategy means the comprehensive and main plan in manufacturing unit revealing the way it achi...

suitable supplier selection is the most important factor in supplier chain management; so that correct decisions in this phase, caused to reduce costs, make permanent relationship with suppliers and strong competitive strategy in market. in this paper, by reviewing the past articles, important related criteria found and then weighting of criteria and evaluation of alternatives were done with fu...

the present study aimed at investigating the existence of long memory properties in ten emerging stock markets across the globe. when return series exhibit long memory, it indicates that observed returns are not independent over time. if returns are not independent, past returns can help predict future returns, thereby violating the market efficiency hypothesis. it poses a serious challenge to ...

Despite the political sensitivity of foreign capital, existing work on the effect of foreign capital at the firm level is slim. This paper examines the effect of foreign equity ownership and management on firm performance using a panel of Korean firms for the period of 1993-2007 when foreign capital inflows increased dramatically. Empirical results show that foreign equity ownership positively ...

• The role played by the state as a land market regulator in urban areas with natural vulnerability to flooding; as a producer of urban land and housing; and as a builder of defenses against flooding. • Impacts on the land market of flooding and built defenses as well as access to urban land for different population sectors; land value increases and decreases in urban areas according to floodin...