I revisit thoroughly the standard boundary behavior satisfied by the excess demand function of a competitive economy, and I prove two implications of the boundary behavior. Then, I show that these implications lead to an alternative proof of the existence of competitive equilibria which is...

The construction of waterfront projects in Penang Island is a new approach in bringing Penang Island to the next level of development. Projects involving reclamation of land by the edge of the river or the sea, through infrastructure or building projects, have progressed by leaps and bounds over...

Between the years 1820-2008, there have been many economic crises in the World. Each of the crises had different intensity, scope and dimension. 2008 global crisis also had distinctive features. Starting with U.S. financial crisis, with a domino effect of financial instruments, the crisis...

In this paper we develop two simple discrete-time Ramsey models augmented with migrant workers to assess the impact of migration on per-capita domestic consumption. In one model we assume perfect substitutability between migrants and natives while in a second model we explore the effect of...

This paper explores the purchasing power parity influence on exchange rate determination for 4 CEE countries: Czech Republic, Hungary, Poland and Romania. In order to achieve our goal, we applied Johansen cointegration procedure to find out a long-run equilibrium relationship between nominal...

According to the increasing use of information technology in accounting This study has done with the aim of identifying the significant security threats of computerized accounting systems and relationship between security of these systems with the level of education and work experience of system...

Trend following strategies have the reputation of being the holy grail of investment. This paper investigates the trend following strategy both from a theoretical and empirical perspective. This article also discusses conditional expected return and the drawdown with Value at Risk (VaR). VaR...

Capital Asset Pricing Model (CAPM) predicts that expected returns on securities are a positive linear function of their market betas and market beta alone is adequate to describe the cross section of expected returns. However there is a controversy regarding the empirical validity of CAPM. The...

Purpose - the application of DEA in term of linear programming (LP) to capital rationing problem, and illustrates the interpretation of the optimal of LP solution so that management could translate and use that information in effective financial decisions. Design/methodology – The research...

This study attempted to investigate empirically the causal relationships among energy consumption, pollution, and economic growth for a panel of 8 selected OPEC countries over the period 1971-2008 inspiring panel data techniques. The findings showed that in the long-run equilibrium there is a...