Enforced by the empirical deficiencies of the Black-Scholes and its wrong distributional assumption, researchers provoked to pursue the development of more realistic option pricing models encompassing the level of skewness and kurtosis. Therefore, the objective of this paper is multi-fold. The...

This paper attempts to determine the best alternative model of options pricing with the capacity to control both the level of skewness and kurtosis. It aims to replicate the effectiveness of classic stochastic and deterministic option pricing models and also establish a correlation between the...

This paper begins with examining Bangladesh’s economic structural transformation during 1980-2010, which is compared and contrasted with the transformation of India and Pakistan. It then calculates and compares the three countries’ macroeconomic volatility and uncertainty for the observation...

India’s engagement with West Asia including Iran has always been a balancing act hovering between economic necessities and strategic pursuits. The paper briefly traces the evolution of Indo-Iran engagements and also analyses their respective macroeconomic parameters. It also outlines and...

Unlike in most other emerging markets, capital flows to South Africa since the mid 1990s have been heavily biased toward portfolio flows. In this context, the objective of the paper is twofold: to identify the determinants of the level and composition of capital flows to emerging markets and to...

Life-cycle greenhouse gas (GHG) emissions and net energy ratio (NER) have been evaluated for the production of palm biodiesel from palm fatty acid distillate (PFAD) which is a by-product in the refining process. For the case that PFAD is regarded as a processing residue, GHG emissions associated...

Geopolitical discourses and practices are influencing the direction of strategic and trade diplomacies in the contemporary global order and would undoubtedly continue to do so owing to the variations in resource endowments. The geopolitical pursuits could be defined by several factors which have...

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

We use highly disaggregated data on trade in capital goods to study differences in the price of capital across countries. This strategy is motivated by the fact that most countries import the bulk of machinery equipment from a small number of industrialized countries. We find the price of...