The observed difference between the swap rate and the government bond yield of corresponding maturity is known as the swap spread. The swap spread reflects the risk premium that is involved in a swap transaction instead of holding risk-free government bonds. It is primarily composed of the...

Maldives and Seychelles in the Indian Ocean are small island tourism economies (SITEs), both of which have relatively small populations, territorial sizes, land area and narrow productive bases. The two SITEs are surrounded by vast ocean and have an overwhelming reliance on international tourism...

We discuss the evaluation of the stability, position and width of resonances in four-dimensional symplectic mappings. The approach presented in this paper is based on the computation of the resonant perturbative series carried out by the program ARES. This piece of code allows to perform the...

We present a numerical method that allows a formation of communicating agents to target the boundary of a time-dependent concentration by following a time-dependent concentration gradient. The algorithm motivated by [3,1], allows the agents to move in space in a non-stationary environment. Our...

A general definition of synchronization is given, capturing features of both self-synchronized systems and systems synchronized by means of external control. The definition is exemplified by a number of special cases, including frequency or Hugenii synchronization. A new solution to the...

The property of saddle-path instability often arises in economic models derived from optimizing behavior by individual agents. In the case when underlying functional forms are nonlinear, it is likely that the stable and unstable arms defining the saddle-path dynamics will also have nonlinear...

This paper analyses the dynamics of a nonlinear Cournot duopoly with general isoelastic demand (quasi-linear preferences) and quantity-setting firms that have incomplete information about the market demand. Unlike existing papers, we propose a model where the price elasticity of demand is...

In this article we study the return transmission among stock markets in Greater China – Mainland China (Shanghai, Shenzhen), Hong Kong and Taiwan – a region which has been enjoying tremendous growth and expansion in the economies and capital markets in the last decade. Using a multiple time...

Probabilistic methods are presented to solve one-dimensional nonlinear reaction–diffusion equations. Computational particles are used to approximate the spatial derivative of the solution. The random walk principle is used to model the diffusion term. We investigate the effect of replacing...

We present a method for computer simulation of diffusion. The method uses quasi-random walk of particles. We consider a pure initial value problem for a simple diffusion equation in s space dimensions. We introduce s spatial steps Δxi. A semi-discrete approximation to the equation is obtained...