Guaranteed funds with crediting rates for fixed periods determined by a Pension Provider or Insurance Company are common features of accumulation annuity contracts. Policyholders can transfer money back and forth between these accounts and Money Market accounts which give them features similar to demand deposits and yet they frequently credit a higher rate than the Money Market. Transfer restri...

Based on a comprehensive investigation on Chinese Stock Market and macroeconomic policies, analyzing samples of the SSE Composite Index and relevant monetary and fiscal policies during the period from January 2000 to June 2008, this paper uses GARCH-type models and EVIEWS5.1 software to study effects of changes in macroeconomic policy on conditional volatility of Chinese Stock Market and analyz...

The main objective of this paper is to evaluate the structure of the Iranian banking system and to measure the market power factor based on the Boone approach. In this paper, we investigated the Iranian organized money market, including 18 banks operating in the period of 2008-2015. To calculate the marginal cost (MC), we used a Translog Stochastic Frontier Cost Function. Findings based on the ...

Since March 1998 the Central Bank of Iceland’s main instrument has been the interest rate on its repos with credit institutions. Until spring 2001 the Bank used this rate to maintain the exchange rate of the króna within its deviation band. After moving on to an inflation target that spring, the Bank has applied its policy rate towards maintaining the target. Changes in the Central Bank policy ...