Monetary environment as the core of financial system has been functionally designed in light of the new set of extensive goals including financial stability, sustainable noninflationary growth, external sustainability, and price stability. A comprehensive monetary policy framework is proposed for Iran which systematically include the new goals, stance variables, instruments, transmission mechan...

instrumentalism (in the science) refers to a view that considers scientific theories as nothing more than instruments for prediction. sometimes the traces of this attitude have been searched in the writings of plato and aristotle; but mostly the pioneers of the theory have been thought to be the priests who regarded the scientific propositions as mere hypothesis, in order to defend religious do...

A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they...

In the 1950s, Markowitz proposed to combine different investment instruments to design a portfolio that either maximizes the expected return under constraints on volatility (risk) or minimizes the risk under given expected return. Markowitz’s formulas are still widely used in financial practice. However, these formulas assume that we know the exact values of expected return and variance for eac...

Comprehensive methods must be used for portfolio optimization. For this purpose, financial data of stock companies, inputs and outputs variable, the risk measure and investor’s preferences must be considered. By considering these items, we propose a method for portfolio optimization. In this paper, we used financial data of companies for screening the stock companies. We used Conditional Value ...

Abstract This chapter introduces negative externalities, i.e., costs incurred by a third party without the polluter having to pay compensation, and exemplifies them external of transport in Switzerland. Next, compares various policy instruments state can use address market failures dealing with externalities. Finally, role financial system is discussed, which counteract current failure connecti...