We review the multiple frequency Gegenbauer autoregressive moving average model, which is able to reproduce a wide range of autocorrelation functions. Extending the result of Chung (1996a), we propose the asymptotic distributions for a conditional sum of squares estimator of the model...

A number of single ARCH model-based methods of predicting volatility are compared to Degiannakis and Xekalaki’s (2005) poly-model SPEC algorithm method in terms of profits from trading actual options of the S&P500 index returns. The results show that traders using the standardized prediction...

In this paper, we show that traditional comparisons of Mean Squared Prediction Error (MSPE) between two competing forecasts may be highly controversial. This is so because when some specific conditions of efficiency are not met, the forecast displaying the lowest MSPE will also display the...

NationCoins are cryptocurrencies backed by Sovereign Authority (Simply put, they are Government issued Bitcoin-like cryptocurrencies). In this paper, we explain the generation, security and distribution of NationCoins by a Sovereign Authority. We begin by explaining the concept of...

Cryptocurrencies have become popular. Economic agents use cryptocurrency such as bitcoins to make payments and it pose a threat to fiat currency. Central banks have begun to respond to this threat. They realize that they need to join the race to offer a digital currency and dominate the digital...

This paper aims to examine the main points of the emergence of controversies regarding digital currencies. By using secondary data and qualitative-descriptive analysis, it was found that digital currency cannot replace the function of money as a medium of exchange, a store of value, and a unit...

The corona virus pandemic has dramatically changed the economic outlook for the United States and many other countries. In June this year, the Federal Reserve published its unemployment predictions. From a July 2020 level of 10.2%, it expects the year-end ratio to drop to 9.3%; by the end of...

Central banks have a long tradition of minimizing their exposure to credit-risk. The Federal Reserve’s response to the recent financial crisis, which entailed greater risk-taking, has raised the question of whether such ‘unusual’ practices are desirable. This paper addresses the vacuum in...

Valuation of tokens is a wager on the platform adoption. This study investigates the effect of platform adoption on the valuation of loyalty tokens and the contingent claims with the token as an underlying. The platform adoption is modelled using the classical Bass Model. The example selected is...

Abstract: This study has so far investigated the link between financial deepening and the development of the stock market over the period of 1981 and 2019 using Bound test conintegration ARDL approach on the ground that Nigeria's financial sector is still shallow and lacks the necessary...