The Brain Drain phenomenon is particularly heterogeneous and is characterized by peculiar specifications. It influences the economic fundamentals of both the country of origin and the host one in terms of human capital accumulation. Here, the brain drain is considered from a microeconomic perspective: more precisely we focus on the individual rational decision to return, referring it to the soc...

We study the problem of evaluating the risky position involved in a matrix of random losses with some given probabilistic structure. In the Basel II regulatory setup for operational risk in banking, we analyse how interdependencies between individual loss random variables within the matrix may influence different estimates for the minimum capital charge required.

Air tra c worldwide continued to grow in 1993, despite the medium-term e ects of the recession in many countries. The direct and indirect costs attributable to air tra c congestion are already enormous, and are predicted to rise to US$10 billion in Europe alone. The challenge is to match the demand with the available capacity. The alternatives are to increase capacity, restrict demand or achiev...

I extend the general equilibrium techniques that have been applied to proportionate taxes to analyze the economic impact of non-proportionate taxes, including those with such commonly observed features as loss disallowances and progressivity. I analogize proportionate taxes to financial forwards and more general taxes to structured financial options. Option pricing theory and methods carry over...

The loss to the English economy caused by decreased migration resulting from relief payments to agricultural laborers is estimated. I conclude that, at worst, the Poor Law had a small negative impact on national product. If poor relief and wages were substitutes, the Poor Law may have had a positive impact on capital formation and economic growth.

A new methodology for incorporating LGD correlation effects into the Basel II risk weight functions is introduced. This methodology is based on modelling of LGD and default event with a single loss variable. The resulting formulas for capital charges are numerically compared to the current proposals by the Basel Committee on Banking Supervision.

 Libya experienced a substantial increase in oil revenue as a result of increased oil prices during the period of the late 1970s and early 1980s, and again after 2000. Recent increases in oil production and the price of oil, and their positive and negative macroeconomic impacts upon key macroeconomic variables, are of considerable contemporary importance to an oil dependent economy such as that...

Implementation credit rating for Corporates is influenced by Different circum-stances, systems, processes, and cultures in each country. In this study, we pro-posed a Factor analysis modified approach for determine important factors on real data set of 123 accepted corporate in Tehran Securities Exchange for the years 2009-2017 of diverse range of 52 variable. We estimated the priority score fo...