The Florida Treaty and the Gallatin-Vives Misunderstanding

From the time it was announced by His Catholic Majesty Ferdinand VII in August 1820, that he was sending a minister plenipotentiary to the United States to conduct further negotiations with President Monroe, to the moment General Francisco Vives disembarked in New York on April 7, 1820, from the packet ship James Monroe, an aura of mystery had enveloped Washington as to the disposition of the Spanish government toward the Florida treaty. For during this time there had been virtually no official communiques exchanged between the two governments. John Forsyth, the American minister in Spain, was for all intents and purposes personna non grata, and for months he had been given almost no information by the Spanish government. The question being asked in Washington was: Did Vives bring along a ratified treaty

The Microcredit in Albania. An application with a decreasing rate structure as a function of sustainability

This work is essentially composed by two main parts. In the first one is intended to emphasize the disposal of the credit, focusing mainly on the microcredit in Albania. Undoubtly, the portrayal of the argument in a thorough and completely comprehensive manner is not part of this phase of the work, but without doubt it aims to represent the base and to trace a line up to the facts, which show how and at what conditions the families and small sized companies can obtain a credit. The second phase of the work points exactly at the answer of the last mentioned affirmation, precisely at what are the conditions that this credit is transferred and what are the costs to acquire one. It focuses exceptionally on the structure by maturity, in this case, of the interest rates, planned specifically by expected returns, in order to stimulate the real cost, which hides behind the structure of the rate applied. Furthermore, the application of the rates’ structure sparks apparent reactions inside the reimbursement schedule, under the aspect of the interests or of the capital

The Beta Coefficient of an Unlisted Bank

Abstract The problem that we set ourselves in this work is related to the determination of capital return invested in an unlisted bank, particularly, in a credit cooperative bank. The model that we use is the Capital Asset Pricing Model (CAPM) equation, with its various difficulties in applying it to a category of unlisted activities. The biggest obstacle in using CAPM is given by the Beta determination representing the systematic risk of the units under examination. Therefore, to determine this risk coefficient, we assumed a first step in which we consider a similar sector sample, consists of a portfolio of listed banks, from which we obtain a Business Risk Index (BRI), that we use to go back to unlisted bank Beta under consideration. In a second case, it is thought of a target market constituted by the whole unlisted banks sample of the same sector under analysis, then relating the returns of individual observed banks with average returns provided by this market, we obtain the Regression Beta. A third step, provides the Business Risk Index determination of the sector, in this case obtained from the unlisted banks market, and then to reach to our banks Beta under observation. Comparing the results obtained from this analysis allows us to suggest a quite satisfying line for determining the Beta of an unlisted bank and consequently for its expected return estimation

Differential equation and the Covid 19 Pandemic

The current report has the purpose to highlight the use of difference equations of linear k order with constant coefficients, to resolve not only financial and/or economic issues, but also social problems. Therefore in the first section of the work, there are confronted some preliminary matters regarding the difference equations(ordinary) of k order with some of the resulting problems, of the initial values and values of Cauchy, exceeded with the help of existence and unity theorems. Additionally it is provided a further approach regarding the problem of finding the solution , belonging to a solution domain , of a differential equation which presents itself stable. All this to arrive at the individuation of the general integral so that every problem of Cauchy, that is related to it, is determined. In the second part, the work suggests to put in the analysis a model, presumed the SIR model, that as previously mentioned will be applied to face and better comprehend which are the conditions that trigger the determination, such as the spread or the vanishing of the pandemic itself, provoked by COVID 19

The Beta coefficient of an unlisted bank

The problem that we set ourselves in this work is related to the determination of capital return invested in an unlisted bank, particularly, in a credit cooperative bank. The model that we use is the Capital Asset Pricing Model (CAPM) equation, with its various difficulties in applying it to a category of unlisted activities. The biggest obstacle in using CAPM is given by the Beta determination representing the systematic risk of the units under examination. Therefore, to determine this risk coefficient, we assumed a first step in which we consider a similar sector sample, consists of a portfolio of listed banks, from which we obtain a Business Risk Index (BRI), that we use to go back to unlisted bank Beta under consideration. In a second case, it is thought of a target market constituted by the whole unlisted banks sample of the same sector under analysis, then relating the returns of individual observed banks with average returns provided by this market, we obtain the Regression Beta. A third step, provides the Business Risk Index determination of the sector, in this case obtained from the unlisted banks market, and then to reach to our banks Beta under observation. Comparing the results obtained from this analysis allows us to suggest a quite satisfying line for determining the Beta of an unlisted bank and consequently for its expected return estimation