In the article we present some extension for the classical problem of dynamic investment optimization. We take the neoclassical model of growth with one product and many consumption goods. The number of consumption goods can be infinite and the consumption bundle is defined on some abstract,...

Trust is a dynamic and complex phenomenon and understanding the factors which affect its formation, evolution and disappearance is a critical research issue. It has been shown that trust plays a key role in how human and social capital develop, how economies grow and how societies progress. In...

The International Accounting Standards Committee issued the the International Accounting Standard 11, Construction Contracts. The objective of IAS 11 is to prescribe the accounting treatment of revenue and costs associated with construction contracts. This Standard uses the recognition criteria...

Using the censuses of 2000 and 2010, we have noticed that the inequality of the household per capita income in the biggest Brazilian cities did not show a trend of reduction, differently from the whole country. Also, the inequality in those cities is substantially higher than the Brazilian. We...

Implications of Bilateral and Sub-regional Trade The paper analyses the impact of bilateral trade and multilateral trade agreements amongst SAARC countries on their agreements with the developed countries. Multilateral agreements for economic development contribute to socio-economic development...

Using the HILDA Survey, this study examines state-dependence and stepping stone effects of low pay in Australia. The results show that both state-dependence and stepping stone effects of low pay are present after observed and unobserved individual heterogeneity is accounted for. The results also...

This paper examines quantitatively the effects of R&D subsidy and government-financed basic research on U.S. economic growth and consumer welfare. To achieve this, we develop an endogenous growth model which takes into account both public and private research investment, and the differences...

Although in the post-World War II period as a whole, developing countries have made substantial economic and industrial progress, during the last decade or so, many of them, particularly in Latin America and Africa, have been in an acute economic crisis . As a consequence, these countries have...

Professional economists rarely write on questions of genocide. This surprises because a workhorse tool of the economics discipline concerns the analysis of behavior that takes place under constraints. All parties in genocide—perpetrators, victims, and third parties—face cost and resource...

This thesis tries to explore the profitability of the dispersion trading strategies. We begin examining the different methods proposed to price variance swaps. We have developed a model that explains why the dispersion trading arises and what the main drivers are. After a description of our...