El nancite (Byrsonima crassifolia) es una fruta tropical perecedera, cuyo periodo de cosecha se da al inicio del invierno (mes mayo) en los países América Central. Los frutos suelen consumir crudos, refrescos, jaleas, jarabes o mermeladas, como saborizante para helados y materia prima productos elaboración artesanal. No obstante, necesario continuar promoviendo más alternativas valor agregado d...

Introduction The purpose of this paper is to summarize a number of results from stochastic calculus that are of fundamental importance in advanced mathematical nance The emphasis will be on the concepts from probability theory stochastic pro cesses and stochastic integration theory Throughout the paper we will hint at applications of the presented results to problems in mathematical nance that ...

We take the view (advanced, among others, by Schumpeter) that new ideas are original combinations of existing elements. While many random combinations are useless, some represent combinations which ”...t” together, aggregating di¤erent components in a novel and functional way. Thus, in order to appraise an innovative idea it is necessary to have specialized experts examine whether each of its d...

Proprietary rule, whereby the state is owned by a ruler who maximizes tax revenues minus the costs of governing, is a useful ideal type that describes many of the states that have ever existed. The study of proprietary rule and its public …nance, however, is comparatively scarce. I argue that proprietary rule emerges out of anarchy and its main alternative self-governance has di¢ culties surviv...

This paper presents and estimates a regime switching macro-…nance model of the term structure with latent and macroeconomic factors. The joint dynamics of the yield and macro factors are examined simultaneously. Both the canonical yields-only model and the macro-…nance model capture two regimes in the state equation that relate to a turbulent period and a tranquil period. Statistically, the for...

Central banks in the major industrialized economies implement policy by intervening in the money market to achieve a target level for a short-term interest rate.1 Why central banks use a short-term interest rate as a policy instrument, and how they achieve the targeted value they set for this rate are topics to be discussed in chapter 11. The focus in this chapter is on the role of …nancial mar...