Modeling Bond yields in finance and macroeconomics

From a macroeconomic perspective, the short-term interest rate is a policy instrument under the direct control of the central bank. From a finance perspective, long rates are risk-adjusted averages of expected future short rates. Thus, as illustrated by much recent research, a joint macro-finance modeling strategy will provide the most comprehensive understanding of the term structure of interest rates. We discuss various questions that arise in this research, and we also present a new examination of the relationship between two prominent dynamic, latent factor models in this literature: the Nelson-Siegel and affine no-arbitrage term structure models. JEL Klassifikation: G1, E4, E5

METHODS OF INCREASING THE ROLE OF THE CORPORATE TAX IN THE ECONOMIC AND SOCIAL DEVELOPMENT

In this paper we will discuss about the implications of the corporate tax in the field of economical and social development. In the beginning we will present the results of the introduction of the new quota (16%) as budgetary receipts and after that we wicorporate tax, DFI, budgetary receipts, underdeveloped areas

Emblematična voščila, rodovniki in portreti Dominika Frančiška Kalina von Marienberga za Habsburžane

The paper discusses the emblematic congratulatory writings and family trees which Dominik Franz Calin von Marien- berg (1624–1683) created for Emperor Leopold I. As a poet, librettist, historiographer, genealogist, draughtsman, and painter, the educated and artistically talented Calin wrote panegyric essays and genealogical studies for the Bavarian prince-elector, Emperor Leopold I, and the Viennese court nobility, which he also partly illustrated. The manuscript Corona Immortalis Gloriae with Calin ̓s text and the emblems of Calin ̓s wife Maria Anna Sibylla Calin are analysed for the first time. Also important and practically overlooked is Calin ̓s contribution to the visualization of genealogical data. In 1666, Calin designed and painted a grand family tree, where he traced the origin of the Habsburg family to the Frankish King Pharamond of Troy, and concluded with portraits of Emperor Leopold I and Margaret Theresa of Spain. In the same year he also painted for the emperor a monumental painting including the portraits of emperors of the Holy Roman Empire from Charles the Great to Leopold I, Roman and Byzantine emperors, and the Ottoman sultans.V prispevku so obravnavani emblematični slavilni spisi in rodovniki, ki jih je Dominik Frančišek Kalin von Marienberg (1624–1683) ustvaril za cesarja Leopolda I. Učeni in likovno nadarjeni Kalin je kot poet, libretist, historiograf, genealog, risar in slikar pisal panegirične spise in genealoške študije za bavarskega volilnega kneza, cesarja Leopolda I. in dunajsko dvorno plemstvo ter jih deloma tudi sam ilustriral. Prvič je obravnavan rokopis Corona Immortalis Gloriae s Kalinovim besedilom in emblemi njegove soproge Marije Ane Sibile Kalin. Pomemben in doslej skoraj spregledan pa je tudi Ka- linov prispevek k vizualizaciji genealoških podatkov. Leta 1666 je Kalin zasnoval in naslikal reprezentančen rodovnik, na katerem je izvor Habsburžanov izpeljal iz frankovskega kralja Faramunda iz Troje in zaključil s portretoma cesarja Leopolda I. in Margarete Terezije. Istega leta je za cesarja naslikal tudi reprezentančno upodobitev s portreti cesarjev Svetega rimskega cesarstva od Karla Velikega do Leopolda I., rimskih in bizantinskih cesarjev ter osmanskih sultanov

Modeling Bond Yields in Finance and Macroeconomics

From a macroeconomic perspective, the short-term interest rate is a policy instrument under the direct control of the central bank. From a finance perspective, long rates are risk-adjusted averages of expected future short rates. Thus, as illustrated by much recent research, a joint macro-finance modeling strategy will provide the most comprehensive understanding of the term structure of interest rates. We discuss various questions that arise in this research, and we also present a new examination of the relationship between two prominent dynamic, latent factor models in this literature: the Nelson-Siegel and affine no-arbitrage term structure models.term structure, yield curve, Nelson-Siegel model, affine equilibrium model

Modeling Bond Yields in Finance and Macroeconomics

From a macroeconomic perspective, the short-term interest rate is a policy instrument under the direct control of the central bank. From a finance perspective, long rates are risk-adjusted averages of expected future short rates. Thus, as illustrated by much recent research, a joint macro-finance modeling strategy will provide the most comprehensive understanding of the term structure of interest rates. We discuss various questions that arise in this research, and we also present a new examination of the relationship between two prominent dynamic, latent factor models in this literature: the Nelson-Siegel and affne no-arbitrage term structure models.

Modeling Bond Yields in Finance and Macroeconomics

From a macroeconomic perspective, the short-term interest rate is a policy instrument under the direct control of the central bank. From a finance perspective, long rates are risk-adjusted averages of expected future short rates. Thus, as illustrated by much recent research, a joint macro-finance modeling strategy will provide the most comprehensive understanding of the term structure of interest rates. We discuss various questions that arise in this research, and we also present a new examination of the relationship between two prominent dynamic, latent factor models in this literature: the Nelson-Siegel and affine no-arbitrage term structure models.Term structure, yield curve, Nelson-Siegel model, affine equilibrium model

The European Union and the Alternative Sources of Energy

The paper presents a detailed analysis of the alternative sources of energy and aspects related to the efficient use of these sources.Energy; Alternative sources of energy; Renewable energy.