in this paper, the effect of financial liberalization on household’s budget liquidity constraint is analyzed with the use of an error correction model. financial liberalization will decline liquidity constraint, with expanding means of making future incomes available for present consumption. here a financial liberalization index for iran is defined using principal component analysis technique, ...

The classical cobweb theorem is extended to include production lags and price forecasts. Price forecasting based on a longer period has a stabilizing effect on prices. Longer production lags do not necessarily lead to unstable prices; very long lags lead to cycles of constant amplitude. The classical cobweb requires elasticity of demand to be greater than that of supply; this is not necessarily...

The construction of martingales with given marginal distributions at given times is a recurrent problem in financial mathematics. From a theoretical point of view, this problem is well-known as necessary and sufficient conditions for the existence of such martingales have been described. Moreover several explicit constructions can even be derived from solutions to the Skorokhod embedding proble...

In this paper we study the pricing and hedging of a very general class of life insurance liabilities by means of the risk-minimization approach. We find the price and risk-minimizing strategy in two cases, first in the case when the financial market consists only of one risky asset, e.g. a stock, and a bank account, and second in an extended financial market, allowing for investments in two add...

Adaptation to C02 produces a typical breathing pattern of increased tidal volume and lowered respiratory rate. Anatomical and physiological deadspace, as well as arterial-alveolar C02 and 02 gradients, are increased under these condions. The relationship of these findings with the well known lowered respiratory response to high C02 concentrations after 0O2 adaptation is discussed. Evidence for ...

urbanization agglomeration that is named jacobs externalities, refers to the role of economic diversification in urban. localization agglomeration, marshal-arrow-romer (mar) externalities, is related to the concentration of firms activated in a special industry within a specified place. the purpose of this research is to explore the impact of different types of agglomeration economies on employ...

the main objective of this paper is to study the relationship between the energy consumption (energy use intensity), economic growth, and co2 emission in iran. to that end, we use time series data of iran during 1967–2004. in order to examine the long-run relationship among these variables, the johanson-juselius cointegration method is used along with vecm. the main finding of this study shows ...

Study objectives: To investigate the etiology of posthyperventilation (post-HV) hypoxemia following voluntary hyperventilation (VHV), we examined the effects of hypocapnic (hypo-C02) and isocapnic (iso-C02) VHV on the hypoxic ventilatory response (02-response) and on the sensation of breathlessness during the 02-response. Methods: 02-responses and visual analog scale (VAS) scores for estimating...

∗Partially supported by Dirección General de Investigación, Ministerio de Ciencia y Tecnoloǵıa, BFM200204013-C02-02 and Proyecto IALE (UAM-Banco Santander Central-Hispano. First author was partially supported by CONICET and Universidad Nacional del Litoral, Argentina. Second author was partially supported by CONICET, Argentina. 2000 Mathematical Subject Classification:42A45, 42B15, 42B20, 42B25...