We propose the use of a new option which we call quadratic, and that central banks could use to smooth exchange rate volatility through the hedging strategies of the issuers. We derive analytic pricing and hedging formulas. We suggest a criterion to derive the optimal (for the Central Bank)...

This paper elucidates the data sources and data preparation procedures used in developing the sectoral environmental data of the US. The database described in this paper interlinks (1) Input-Output Table (IOT), (2) environmental emission and resources use statistics, and (3) characterization...

Korean fund investors suffered significant financial losses from their international equity investments during the recent global financial crisis. Contrary to expectations for improved investment performance, the currency position for hedging purposes worsened performance. In this paper, we...

This paper is concerned with the main activities of Japan's 'Disclosure of CO2 emissions' programme, aimed at illustrating the CO2 emissions associated with consumer products as a 'carbon footprint' (CF). Although the current, provisional guidelines for calculating product carbon footprints...

This paper proposes a simple method that employs credit default swap (CDS) data for analyzing systemic risk. The proposed method overcomes inconsistency problems in existing methods and can produce various indicators of systemic risk in a consistent manner. In addition, this method can measure...

This paper presents an assessment of the productive efficiency of an advanced biodiesel plant in Japan using Data Envelopment Analysis (DEA). The empirical analysis uses monthly input data (waste cooking oil, methanol, potassium hydroxide, power consumption, and the truck diesel fuel used for...

In this paper, we develop a new approach that combines the spectral clustering method and input-output analysis to detect environmentally important supply chain clusters. The newly developed method was applied to automobile manufacturing in Japan, and major clusters with high energy intensities...