118 research outputs found
Cont-Bouchaud percolation model including Tobin tax
The Tobin tax is an often discussed method to tame speculation and get a
source of income. The discussion is especially heated when the financial
markets are in crisis. In this article we refer to foreign exchange markets.
The Tobin tax should be a small international tax affecting all currency
transactions and thus consequently reducing the destabilizing speculations. In
this way this tax should take over a control function. By including Tobin tax
in the microscopic model of Cont and Bouchaud one finds that Tobin tax could be
the right method to control foreign exchange operations and get a good source
of incomeComment: Expanded for of paper to be published in Int. J. Mod. Phys. C 13
(2002
PMD5 VALUATION OF NEW DRUG APPLICATIONS OF PHARMACEUTICAL COMPANIES USING COMPOUND OPTION MODELS
Debt Sustainability and direction of trade: What does Africa’s shifting engagement with BRIC and OECD tells us?
This study assesses the evolution of debt sustainability in the Sub Saharan African (SSA) region. It also examines the respective contributions of OECD and BRIC to debt sustainability in the region. We reveal how the external demand for SSA goods and services from OECD and BRIC helps to lower ‘debt-to-exports’ and ‘debt-service-to-exports’ ratios, two of the main gauges of debt sustainability. Furthermore, using simple growth accounting, we assess how the net exports by SSA to the OECD and BRIC contributes to the region’s GDP growth, and thus indirectly helps to lower the ‘debt-to-GDP’ ratio, which is another important measure of indebtedness. Our study also compares the ‘actual’ debt levels of SSA with ‘hypothetical’ debt levels that simulate the contributions of OECD and BRIC. On the basis of debt sustainability thresholds of the joint IMF-World Bank Debt Sustainability Framework (DSF), we test how the sustainability of SSA debt has evolved overtime and how much the OECD and BRIC contribute to three classes of ‘weak’, ‘medium’ and ‘strong’ debt sustainability targets
Understanding Sectoral Differences in Downward Real Wage Rigidity: Workforce Composition, Institutions, Technology and Competition
A Global Assessment of the Degree of Price Stickiness - Results from the NBB Business Survey
The Performance of Credit Rating Systems in the Assessment of Collateral Used in Eurosystem Monetary Policy Operations
Downward Wage Rigidity for Different Workers and Firms: An Evaluation for Belgium Using the IWFP Procedure
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