INSTITUTIONS, POLICIES AND EFFICIENCY IN ECONOMIES

There are cases where the governments may not always serve the public interest. The implication seems to be that governments can help out but only if properly constrained. The impact of these ideas on monetary policy led to creation of Central banks. As far as fiscal policymaking is concerned, the evolution has been slower. It would seem that we are now ready to move to the next step, replacing rules with adequate incentives backed by institutions - fiscal policy committees.policies, institutions, rules.

An Approach to Wealth Modelling

2000 Mathematics Subject Classification: 60G48, 60G20, 60G15, 60G17. JEL Classification: G10The change in the wealth of a market agent (an investor, a company, a bank etc.) in an economy is a popular topic in finance. In this paper, we propose a general stochastic model describing the wealth process and give some of its properties and special cases. A result regarding the probability of default within the framework of the model is also offered

AN IMPROVEMENT OF KRIPPENDORF MODEL

Since the beginning of the theoretical investigations in the field of tourism, there are many trials to model tourism using the system approach. In this article, the author suppose a model of tourism considering system of tourism in three sections – existential, topological and cybernetic. The existential section shows the elements of the system of tourism depending on their belonging to the three main systems related to the existence of human community – society, environment and economy. The topological section shows the elements of the tourist system depending on their geographic differentiation – system with generic conditions, destination and local environment. The cybernetic section presents the elements of the tourist system depending on the relation to the system management

Смесено отрицателно биномно разпределение с претеглено гама смесващо разпределение

Павел Т. Стойнов - В тази работа се разглежда отрицателно биномното разпределение, известно още като разпределение на Пойа. Предполагаме, че смесващото разпределение е претеглено гама разпределение. Изведени са вероятностите в някои частни случаи. Дадени са рекурентните формули на Панжер.In this paper the mixed negative binomial distribution, known also as P´olya distribution is considered. We suppose that the mixing distribution is a weighted Gamma distribution. We derive the probability mass function and consider some special cases. The Panjer recursion formulas and some properties are given

Some examples of Cox processes

Real data on the number of claims in a certain time interval for an insurance company show that Poisson assumption is not always realistic. Instead, a more general class of processes is used - the class of Cox processes. In this article, examples of Cox processes are considered with mixed Poisson processes, periodic Poisson processes, Markov-modulated Poisson processes and Bjork-Grandell processes among them

Switch-Time Distributions and Processes

[Stoynov Pavel; Стойнов Павел]A family of probability distributions and related to them processes known as Switch Time distributions and processes (ST distributions and processes) are presented and simulated. Here by switch time we denote the time of sharp change of value of a stochastic process (jump) or sharp change of some characteristics of a stochastic process (regime switch). 2010 Mathematics Subject Classification: 60G51, 97K60

AN APPROACH TO CORPORATE AND ASSETS DEFAULT

The general specification of default risk premium in the context of an intensity-based model is considered. Some examples and applications to modeling survival probabilities of both assets and firms in economy are given

The potential of Nulgarian spahotels to host natural hazards victims

A natural disaster is a major adverse event resulting from natural processes of the Earth which affects a vulnerable area and causes loss of life, health, property and other economic values. The issue of mitigating the negative impact of natural hazards on the society is of great importance today when we strive to keep social sustainability. Common immediate negative consequences for people who survived a natural disaster are losses of relative and friends, health, home, other property and values. The stress and the psychological pressure worsen even more the health status. So there is need of arranging in short term the accommodation and recreation of the victims of natural disaster. These two tasks can be successfully solved by using the potential of the tourist industry and especially of health tourism industry. The touristic infrastructure can ensure both accommodation and recreation of large groups of people, especially in short terms (15-30 days). In most cases these terms are enough to overcome the stress and to ensure enough time for finding long-term living solutions. The aim of this article is to study the potential of Bulgarian tourism infrastructure (hotels) and especially health (SPA, wellness) tourism infrastructure to ensure recreation for victims of natural hazards