This paper proposes the exchange market algorithm (EMA) to solve the combined economic and emission dispatch (CEED) problems in thermal power plants. The EMA is a new, robust and efficient algorithm to exploit the global optimum point in optimization problems. Existence of two seeking operators in EMA provides a high ability in exploiting global optimum point. In order to show the capabilities ...

While the relationship between stock market return and oil price is of great interest to researchers, previous studies do not investigate stock market return with petrochemical products market. In this paper, we analyzed the relationship between prices of main petrochemical products and stock returns of petrochemical companies in Tehran stock exchange. Using a panel data model and GLS estimatio...

This paper examines the effects of selected macroeconomic variables on the stock market index in Iran. Using quarterly data, we examine the relationships between the Tehran Stock Index (TSI) and five macroeconomic variables which consist of gross domestic product, nominal effective exchange rate, money supply, gold coin price and investment in housing sector from 1996:1 to 2008:1.Various e...

12/3/14 1 7. THE DEVELOPMENT OF COMMERCE In Chapter 6, we saw how commerce first organized itself during the Commercial Revolution to meet the challenges of mediating long-distance exchange. In this chapter, we will see how commerce, like production, continued to develop in ways that increased its productivity. What drove this development was the pressure of competition. Both the Crisis of the ...

in this paper we examine the effect of the oil volatility, consumer price index (cpi) and industrial production on the stock market return in tehran stock exchange (tse). we used seasonal data in period 1378-1390 and auto regressive distributed method (ardl) for the short-term and long-term relationship between the variables. as results of research indicate, we find that there is positive short...

We study the lead±lag relationships among the spot, futures, and options markets on Hong KongÕs Hang Seng Index (HSI). The young options market experiences thin trading, and the option returns lag the cash index returns. The more mature futures market experiences active trading. Yet its lead over the cash index appears to be less than the counterparts in other countries. A possible reason is th...

This paper develops a model of the black market for foreign exchange in which black market currency is demanded and supplied by tirms engaged in smuggling. It is demonstrated that quotas or foreign exchange rationing are not necessary to induce the coexistence of legal and black foreign exchange markets. Variants of the model analyze the implications of capital flight, unbalanced trade, quotas,...