Context. Among optical stellar interferometers, the CHARA Array located at Mt Wilson in California offers the potential of very long baselines (up to 330 m) and the prospect of coupling multiple beam combiners. This paper presents the principle and the measured performance of VEGA, Visible spEctroGraph and polArimeter installed in September 2007 at the coherent focus of the array. Aims. With 0....

We describe a two factor valuation model for convertible bonds when the firm may default. We endogenize both default and the recovery value of a defaulted bond. A sophisticated numerical framework enables us to specify numerically and financially consistent boundary conditions and inequality constraints. We investigate the affect of changing the default, recovery and loss specification. The aff...

in this paper, the behavior of saving and consumption has been considered in ramsey – cass- koopmans model’s framework. our purpose was investigation of dynamics of these variables and analysis of their response to other parameter and variable variations. so, we made lagrangian function subject to some restrictions and euler equations and other steady state path equations. and then, we have cal...

abstract by using cross-section data which gathered through a survey research in mashhad ,contingent valuation approach and tobit model this study tries to determine economical value of air pollution and effective factors on wtp. based on contingent valuation approach, air pollution total value of airpollution in high-polluted region equals 7134146560 rials per month and in middle-polluted regi...

Conditional expected values in Markov chains are solutions to a set of associated backward differential equations, which may be ordinary or partial depending on the number of relevant state variables. This paper investigates the validity of these differential equations by locating the points of non-smoothness of the state-wise conditional expected values, and it presents a numerical method for ...

although improvement and accumulation of human capital is depending on state policy, every state hasn't this capability. meritocratic bureaucracies, extractive capability, acconntability and rationalization of relations with society promote capacity and authonomy in developmental state model. according to the study hypothesis, structure and nature of the ninth and tenth governments was the...

although improvement and accumulation of human capital  depends on state policy, every state hasn't this capability. meritocratic bureaucracies, extractive capability, accountability and rationalization of relations with society promote capacity and autonomy in developmental state model. according to the study hypothesis, structure and nature of the ninth and tenth governments was the main...

JEL classification: C65, D63, D71, D81 Mathematics Subject Classification (2000): 91B16

In this paper we propose a recursive equilibrium algorithm for the numerical simulation of nonoptimal dynamic economies. This algorithm builds upon a convergent operator over an expanded set of state variables. The fixed point of this operator defines the set of all Markovian equilibria. We study approximation properties of the operator. We also apply our recursive equilibrium algorithm to vari...

This paper considers several tests of orthogonality conditions in linear models where stochastic errors may be heteroskedastic or autocorrelated. It is shown that these tests can be performed with Wald statistics obtained from simple auxiliary regressions. JEL Classification Number: C20 Word Count: 1460 Address for correspondence: Seung Chan Ahn, Department of Economics, Arizona State Universit...