This paper proposes and tests a theory of using commodities as collateral for financing. In the presence of capital control and financial frictions, financial investors import commodities and pledge them as collateral to capture the higher expected return in the importing country. The collateral demand for commodities increases commodity prices globally; it also increases futures risk premium i...

How globalization and international trade affect sustainable development and environment has attracted worldwide attention. Associated with the import and export of primary commodities, ecologically important materials have been exchanged among regions and countries. China, having the largest population in the world and the highest economic growth rate in last decades, may have an important inf...

BACKGROUND Left ventricular outflow tract (LVOT) obstruction is frequently responsible for symptoms in hypertrophic obstructive cardiomyopathy (HOCM). Medical therapy is often not sufficient to control these symptoms, and surgical myotomy-myomectomy is required. METHODS AND RESULTS We enrolled 33 symptomatic patients with HOCM and obstruction (>/=40 mm Hg gradient at rest or >/=60 mm Hg dobut...

In this paper, a new approach to risk minimizing vehicle routing and scheduling problem is presented. Forwarding agents or companies have two main concerns for the collection of high-risk commodities like cash or valuable commodities between the central depot and the customers: one; because of the high value of the commodities transported, the risk of ambush and robbery are very high. Two; the ...

This paper presents an equilibrium model of the term structure of forward prices for storable commodities. Our approach differs from Brennan (1991) and Schwartz (1997) in that we do not explicitly assume an exogenous "convenience yield." Rather, our spot commodity has an embedded timing option that is absent in forward contracts, which arises from a non-negativity constraint on inventory. The v...

In this paper we consider a class of economies with a nite number of divisible commodities, linear production technologies, and indivisible goods, and a nite number of agents. This class contains several well-known economies with indivisible goods and money as special cases. It is shown that if the utility functions are continuous on the divisible commodities and are weakly monotonic both on on...

∗ This work was performed in the framework of IST Project AQUILA (Adaptive Re-source Control of QoS Using an IP-based Layered Architecture IST1999-10077) funded in part by the EU. The author wish to express her gratitude to the other members of the AQUILA Consortium for valuable discussions. Abstract: In this article we consider end-to-end interdomain Quality of Service support for non QoS-awar...