Article history: Received 8 March 2006 Available online 17 October 2008 JEL classification: C61 C72 C73

w hether the united kingdom (uk) should remain in the european :union: (eu) or not has been a fiercely debated issue both before and after the referendum in the uk on june 23, 2016. the main purpose of this paper is to evaluate the pros and cons of the uk leaving the eu. it is concluded that if the uk leaves the eu, the resulting economic shock would risk adverse effects on macroeconomic variab...

We offer a framework to analyze Value-at-Risk based regulation rules and their possible distortion effects on financial markets. Our model is formulated in a continuous-time economy where investors maximize expected utility subject to some regulatory Value-at-Risk constraint when asset price dynamics are not lognormal and exhibit stochastic volatility. To retain tractability of the optimization...

The main objective of this paper is to investigate the effects of monetary regime (countries with inflation targeting monetary policy versus countries with exchange rate anchor) on the extent of exchange rate pass-through over the period of 1999-2010. To achieve this objective, the econometric model has been estimated by Dynamic Panel Data approach and Arrelano- Bond (AB) method. The empirical ...

in this paper, we have studied the effect of population on iranian economic growth by using optimal growth theory. optimal growth theory is a nonlinear dynamic planning. classical approaches in mathematics are used for solving these nonlinear systems. but, in this study, we have used genetic algorithm (ga) method. as results show, it seems that population growth in previous years (1350- 1386), ...

the purpose of this paper is to evaluate the effect of financial liberalization on exchange rate volatilities of the selected developing countries, which are now known as liberalizing countries. thus we test the hypothesis in which financial liberalization effect exchange rate volatilities in 43 selected developing countries during 1996-2005. accordingly, a regression model of exchange rate vol...

 Up to now, the impact of real exchange rate on the non-oil exports of Iran has been mainly on focus. However, the more important aspect of the fluctuations in exchange rate is its degree of volatility which can have profound effect on the non-oil exports. Hence, the main objective of this paper is to investigate the linkage between non-oil exports and the real exchange rate volatility for Iran...

The current extensive literature on irreversible investment decisions makes the assumption of constant interest rate. In this paper we study the impact of interest rate and revenue variability on the decision to carry out an irreversible investment project. Given the generality of the considered valuation problem, we first provide a thorough mathematical characterization of the problem and deve...

We consider economic growth in the presence of a minimal survival consumption level when preferences are lexicographic giving highest priority to the survival of the current and then all future generations. Knowledge of production is incomplete so future output made possible by current saving must be estimated. The resulting capital accumulation path is compared with the inter–temporally optima...