4e paper researches financial history of Brod-Posavlje, the extent of economic development and its influence on financial sector from the middle of 18th century to the middle of 20th century. What we deal with are four most important institutions in the segments of the economic and later...

For proper valuation of risk to which the portfolio of financial assets is exposed, it is necessary to forecast the second moments of financial time series, that is variabilities. The empirical investigations show that financia time series are heteroskedastic, i.e. their volatility is not...