Mortgages play a significant role in the US economy. Americans predominantly use fixed-rate mortgages (FRMs) to avoid interest rate risk, but related risk aversion cost has not been analyzed yet. This paper fills gap by investigating of choosing FRMs over adjustable-rate (ARMs). We find that ex post, FRM borrowers made 12% – 23% higher payments 0.66% 1.62% potential ARM payment shocks. Conseque...

<div class="WordSection1"><h1 align="center"><strong style="font-size: 10px;">ABSTRACT</strong></h1></div><p>A theory analyzing the short run dynamics of nominal exchange rates under exogenous interest and free imperfect international capital markets is presented. Introducing elastic rate expectations leads to cumulative changes in spot forward same dir...

As worldwide energy demand continues to grow, oil and gas fields have spent hundreds of billions dollars build the substructures smart fields. Management requires integrating knowledge methods in order automatically autonomously handle a great frequency real-time information streams gathered from those wells. Furthermore, businesses movement towards enhancing everyday production skills meet glo...