This note explores the mathematical theory to solve modern gambler’s ruin problems. We establish a ruin framework and solve for the probability of bankruptcy. We also show how this relates to the expected time to bankruptcy and review the risk neutral probabilities associated an adjustment to...

We confront microeconomic theory with macroeconomic data. Unemployment results from two main micro-level decisions of workers and firms. Most of the efficiency wage and bargaining theories predict that over the business cycle, unemployment falls below its natural rate when the worker’s real...

Standard economics starts with behavioral assumptions that are formally expressed as axioms. This approach met with little scientific success but still enjoys some popularity for lack of a convincing alternative. To replace the subjective formal foundations by objective structural axioms is the...

The present article tackles a very actual and heavily debated topic in our country, that of the regionalization. Our aim is to present how the memory of belonging to a historical region, the ethnical criteria, the local/regional identity and pride influence the outlining of the regionalization...

This study investigates the relationship of mergers & acquisitions with the interest spread of the banking industry in Pakistan. To assess whether the merger of Pakistani banks were a success or otherwise, profitability, liquidity ratios, and net interest spread are computed which are considered...

The decision by economic migrants to leave their country of origin for the purpose of employment and to improve quality of life is generally regarded as an investment decision. Real or expected income differentials between the source and the host country and the possibilities of being employed...

The main messages of the contribution in five points are the following: (1) Besides temporal relations of sustainability, we also have to underline the importance of the spatial context of it. (2) It is the internal network of a region that helps to preserve the structure and the existing...

A major development policy challenge in the contemporary economic policy discourse is to sustain the development momentum. Prevailing political economic realities influence the economic thinking to accommodate the political compulsions. The inclusive development is one such development strategy....

This article brings in two new discrete distributions: multivariate Binomial distribution and multivariate Poisson distribution. Those distributions were created in eventology as more correct generalizations of Binomial and Poisson distributions. Accordingly to eventology new laws take into...

In this work a general purpose multisectoral economy-wide model, solved for growth rates, is constructed for the Brazilian economy. In constructing the Brazilian model, the ORANI model for the Australian Economy was chosen as the starting point and was modified in a way that it can reflect and...