Deposit insurance and capital requirements are two focuses in banking literature. Many researchers criticize these two important schemes using moral hazard theory: Under the protection of the deposit insurance, banks have incentive to take deposits as much as they can for some debt-favor reasons...

We explore how outcomes of trade policy retaliation (Nash tariff games) are affected when trade simultaneously takes places geographically across countries and through time via financial intermediation. In such models deficits and surpluses in goods trade are endogenously determined, and...

The present paper analyzes the turbulent convection of Al2O3-water nanofluid inside a circular section tube subjected to constant wall temperature. The analysis is developed numerically by using the mixture model, which has been proved to be a convenient method to simulate nanofluids behavior....

In this paper I consider a portfolio optimization problem where an agent holds an endowment of stock and is allowed to buy some quantity of a put option on the stock. This basic question (how much insurance to buy?) has been addressed in insurance economics through the literature on rational...

Thermocline storage concept has been considered for more than a decade as a possible solution to reduce the huge cost of the storage system in concentrated solar power (CSP) plants. However, one of the drawbacks of this concept is the decrease in its performance throughout the time. The...

Patriksson (2008) provided a then up-to-date survey on the continuous, separable, differentiable and convex resource allocation problem with a single resource constraint. Since the publication of that paper the interest in the problem has grown: several new applications have arisen where the...

Purpose – The purpose of this paper is to derive semi-closed-form solutions to a wide variety of interest rate derivatives prices under stochastic volatility in affine-term structure models. Design/methodology/approach –The paper first derives the Frobenius series solution to the...

Fluid velocity distribution among microchannels plays important role on the reaction performances. In this work, the velocity distribution among microchannels with two different manifold structures is compared by a three-dimensional CFD model under two situations respectively, no reaction and...

This study presents experimental and numerical research results in determining an effective borehole thermal resistance of a spiral coil energy pile. A precast high-strength concrete (PHC) energy pile with a spiral coil GHE was installed and thermal response test was carried out to evaluate the...