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Pages
- Title
- American lookback options: Early exercise.
- Creator
- Abramov, Viatcheslav Alexander., Florida Atlantic University, Yuhn, Ky-hyang, College of Business, Department of Economics
- Abstract/Description
-
Lookback options are path dependent contingent claims whose payoff depend on the extrema of a given security's price over a given period. Some of these options are already traded on specialized markets (such as foreign exchange) and mostly in over-the-counter market alongside with other path dependent options (knock-ins, knock-outs, etc.). This thesis examines the existing pricing models of conventional options as well as standard European lookback options and provides some results about...
Show moreLookback options are path dependent contingent claims whose payoff depend on the extrema of a given security's price over a given period. Some of these options are already traded on specialized markets (such as foreign exchange) and mostly in over-the-counter market alongside with other path dependent options (knock-ins, knock-outs, etc.). This thesis examines the existing pricing models of conventional options as well as standard European lookback options and provides some results about early exercise of their American counterparts with the use of notions from the theory of optimal stopping.
Show less - Date Issued
- 1995
- PURL
- http://purl.flvc.org/fcla/dt/15177
- Subject Headings
- Options (Finance), Derivative securities
- Format
- Document (PDF)
- Title
- KALMAN FILTER MODEL.
- Creator
- Agiakloglou, Christos N., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis demonstrates the theory and the application of the Kalman filter model, a model where the coefficients are not assumed to be constant over time but time-varying. This model is approached in two different ways. The first is the recursive approach and the second is the Mixed estimation approach. Both of these two approaches describe in different ways the original Kalman filter model. This thesis also contains an empirical application of the Kalman filter model, using real data from...
Show moreThis thesis demonstrates the theory and the application of the Kalman filter model, a model where the coefficients are not assumed to be constant over time but time-varying. This model is approached in two different ways. The first is the recursive approach and the second is the Mixed estimation approach. Both of these two approaches describe in different ways the original Kalman filter model. This thesis also contains an empirical application of the Kalman filter model, using real data from the Greek economy to estimate the Demand for Money.
Show less - Date Issued
- 1987
- PURL
- http://purl.flvc.org/fcla/dt/14372
- Subject Headings
- Kalman filtering, Estimation theory
- Format
- Document (PDF)
- Title
- MONETARY POLICY TARGETS IN TURKEY: AN ANALYSIS OF CAUSALITY AND CONTROLLABILITY.
- Creator
- Akyurek, Cem Ahmet, Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
- Abstract/Description
-
This study analyzes the formulation of monetary policy in the Turkish economy on the basis of intermediate policy targets. Two monetary aggregates and four credit aggregates are identified as potential intermediate targets of monetary policy. The causal relationship between these variables and GNP as well as prices is estimated by utilizing Granger and Sims tests for causality. The degree to which these targets are controlled by changes in the monetary base is examined by using regression...
Show moreThis study analyzes the formulation of monetary policy in the Turkish economy on the basis of intermediate policy targets. Two monetary aggregates and four credit aggregates are identified as potential intermediate targets of monetary policy. The causal relationship between these variables and GNP as well as prices is estimated by utilizing Granger and Sims tests for causality. The degree to which these targets are controlled by changes in the monetary base is examined by using regression analysis. Finally, this study briefly examines the major sources of the monetary base in the Turkish economy.
Show less - Date Issued
- 1985
- PURL
- http://purl.flvc.org/fcla/dt/14259
- Subject Headings
- Monetary policy--Turkey--Analysis, Turkey--Economic conditions--Analysis
- Format
- Document (PDF)
- Title
- AN EMPIRICAL STUDY OF CANADIAN TOURISM IN THE UNITED STATES.
- Creator
- Ar, Burak Mustafa, Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This paper uses annual time series, 1950-1980, to estimate determinants of Canadian tourist expenditures in the United States. Time series analysis is also given for Florida tourism, but it is in small scale. In order to examine Canadian and non-Canadian tourist behavior, results of regression analysis are analyzed.
- Date Issued
- 1984
- PURL
- http://purl.flvc.org/fcla/dt/14198
- Subject Headings
- Tourist trade--United States, Tourist trade--Florida, Travelers--Canada
- Format
- Document (PDF)
- Title
- Privatization: A process of economic transformation in modern economies.
- Creator
- Arbey, Bulent Mehmet., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
- Abstract/Description
-
In recent years it is widely believed that an increase in economic activity determined by market forces, contributes to higher productivity, faster economic growth, and lower budget deficits. Developing countries, in particular, are attempting to increase the share of the private sector in their economies in order to accelerate the process of development. This thesis describes the concept of privatization and alternative models of the privatization process. A cross-section of forty-nine...
Show moreIn recent years it is widely believed that an increase in economic activity determined by market forces, contributes to higher productivity, faster economic growth, and lower budget deficits. Developing countries, in particular, are attempting to increase the share of the private sector in their economies in order to accelerate the process of development. This thesis describes the concept of privatization and alternative models of the privatization process. A cross-section of forty-nine countries is utilized to empirically assess the impact of privatization on economic growth.
Show less - Date Issued
- 1993
- PURL
- http://purl.flvc.org/fcla/dt/14942
- Subject Headings
- Privatization, Economic development
- Format
- Document (PDF)
- Title
- RATIONAL EXPECTATIONS AND INFORMATION THEORY.
- Creator
- Atallo, Robert Alan, Florida Atlantic University, Hanage, Neela, College of Business, Department of Economics
- Abstract/Description
-
This thesis examines the relationship between the rational expectations flexible-price macroeconomic model and the pure theory of information originally developed within the electronic communications disciplines. The thesis first develops the rational expectations macromodel, including discussions of the model's assumptions, robustness, econometric issues, and important empirical results. The pure theory of information is then developed, and the "polar cases" of full information and complete...
Show moreThis thesis examines the relationship between the rational expectations flexible-price macroeconomic model and the pure theory of information originally developed within the electronic communications disciplines. The thesis first develops the rational expectations macromodel, including discussions of the model's assumptions, robustness, econometric issues, and important empirical results. The pure theory of information is then developed, and the "polar cases" of full information and complete information deprivation are examined. Finally, a generalized model of information acquisition and "transmission noise" are developed within the rational expectations framework.
Show less - Date Issued
- 1987
- PURL
- http://purl.flvc.org/fcla/dt/14405
- Subject Headings
- Rational expectations (Economic theory), Information theory
- Format
- Document (PDF)
- Title
- THE CAPITAL ASSET PRICING MODEL.
- Creator
- Ayala, Mary D., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis reviews the majot' literature associated with the Capital Asset Pricing Model with emphasis on related controversial issues. The model's underlying theories, developed by Harry Markowitz and James Tobin, are presented first. This is followed by themathematicalderivation, developed by William Sharpe. Special attention is given to the controversial assumptions imposea by Markowitz and Tobin, which emerge in the CAPM. Major tests of the CAPM are reviewed next: and the empirical...
Show moreThis thesis reviews the majot' literature associated with the Capital Asset Pricing Model with emphasis on related controversial issues. The model's underlying theories, developed by Harry Markowitz and James Tobin, are presented first. This is followed by themathematicalderivation, developed by William Sharpe. Special attention is given to the controversial assumptions imposea by Markowitz and Tobin, which emerge in the CAPM. Major tests of the CAPM are reviewed next: and the empirical problems associated with test design are highlighted. It is shown that variations in test design produce controversial test results. The specific tests reviewed here fail to provide strong support for the nodel; nevertheless it becomes evident that such tests fostered a vast outpouring of new and extended models. The CAPM remains a breakthrough in financial and economic literature which deserves to be explored even more intensely in the future.
Show less - Date Issued
- 1981
- PURL
- http://purl.flvc.org/fcla/dt/14067
- Subject Headings
- Capital assets pricing model
- Format
- Document (PDF)
- Title
- A PREFERRED PORTFOLIO PATTERN MODEL OF THE UNITED STATES ECONOMY, 1968-1972.
- Creator
- BAUM, CHRISTOPHER FREDERICK., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This study deals with the theoretical development, estimation, and application of a financial model for the U.S. economy. The model is a 'preferred portfolio pattern' model, which was suggested by Richard Stone, and is based on the Flow-of-Funds Accounts. A background of the Flow of Funds framework and financial modelling begins the study, and is followed by an overview of traditional input-output techniques, required in the derivation of the model. Matrix adjustment of input-output systems...
Show moreThis study deals with the theoretical development, estimation, and application of a financial model for the U.S. economy. The model is a 'preferred portfolio pattern' model, which was suggested by Richard Stone, and is based on the Flow-of-Funds Accounts. A background of the Flow of Funds framework and financial modelling begins the study, and is followed by an overview of traditional input-output techniques, required in the derivation of the model. Matrix adjustment of input-output systems introduces Stone's 'financial input-output models', where his structure of sectoral balance sheets, input-output type financial models and preferred portfolio pattern models are discussed. Estimation of the model involves aggregation of FOP data and its categorisation by sectors and types of financial instruments. Empirical applications presented include short-term forecasting and an analysis of the model's dynamic time path.
Show less - Date Issued
- 1973
- PURL
- http://purl.flvc.org/fcla/dt/13561
- Subject Headings
- Funds-flow statements--United States, United States--Economic conditions--1961-1971--Mathematical models
- Format
- Document (PDF)
- Title
- THE TEACHING OF THE ECONOMIC PRINCIPLES COURSE: A BEHAVIORAL APPROACH.
- Creator
- BEER, MAX P., Florida Atlantic University, Redman, Milton, College of Business, Department of Economics
- Abstract/Description
-
The desire to render college curricula and college teaching more effective has resulted in ever increasing debates about content and method of instruction of the Economic Principles Course. The purpose of this thesis is to examine the behavioral approach to the subject matter of a one quarter macro-principles course. In addition to the question of method the problematical aspects of content and purpose are also examined. The question of what to teach and to whom to teach it has not been...
Show moreThe desire to render college curricula and college teaching more effective has resulted in ever increasing debates about content and method of instruction of the Economic Principles Course. The purpose of this thesis is to examine the behavioral approach to the subject matter of a one quarter macro-principles course. In addition to the question of method the problematical aspects of content and purpose are also examined. The question of what to teach and to whom to teach it has not been resolved and an attempt is made in this thesis to provide a rationale for the development of a substantive content which would provide the student with means to make relatable interpretive use of the knowledge gained.
Show less - Date Issued
- 1972
- PURL
- http://purl.flvc.org/fcla/dt/13524
- Subject Headings
- Economics--Study and teaching
- Format
- Document (PDF)
- Title
- A SPECTRAL ANALYSIS OF MONEY, INCOME AND EXPENDITURE.
- Creator
- BENNETT, MARIE ELAINE., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis tests whether a simple income-expenditure model is a better predictor of induced expenditure and thus income than a simple quantity theory model. A spectral analysis was performed using alternative definitions of money, income and expenditure. From the results of cross spectral analysis, it was concluded that the money supply is the better predictor of short run (8 months - 3 years) fluctuations in consumption and thus in income.
- Date Issued
- 1973
- PURL
- http://purl.flvc.org/fcla/dt/13570
- Subject Headings
- Income, Consumption (Economics), Econometrics
- Format
- Document (PDF)
- Title
- AN ANALYSIS OF ALIEN EXPULSION IN GHANA.
- Creator
- BEVAN, LINDA ESTELLE RACE., Florida Atlantic University, Nicholas, James C., College of Business, Department of Economics
- Abstract/Description
-
The rising fervor of nationalism in post-colonial Ghana culminated in hatred of foreigners and fear of alien control of economic enterprises. As a result of this growing anti-alien sentiment, all aliens without valid residence permits were expelled from Ghana in late 1969. The purpose of alien expulsion was to increase domestic employment by offering to Ghanaians the positions previously held by aliens. This thesis examines the economic logic of alien expulsion. Certain assumptions had to...
Show moreThe rising fervor of nationalism in post-colonial Ghana culminated in hatred of foreigners and fear of alien control of economic enterprises. As a result of this growing anti-alien sentiment, all aliens without valid residence permits were expelled from Ghana in late 1969. The purpose of alien expulsion was to increase domestic employment by offering to Ghanaians the positions previously held by aliens. This thesis examines the economic logic of alien expulsion. Certain assumptions had to have been made in order for alien expulsion to increase domestic employment. Each of these assumptions is examined to see if it accurately depicted the conditions it described. The results of alien expulsion are then examined in light of the logic set up by this thesis.
Show less - Date Issued
- 1972
- PURL
- http://purl.flvc.org/fcla/dt/13530
- Subject Headings
- Aliens--Law and legislation--Ghana, Unemployment--Ghana, Ghana--Economic policy, Ghana--Politics and government--1957-1979
- Format
- Document (PDF)
- Title
- SHORT-TERM ECONOMIC FORECASTING IN A REGIONAL CONTEXT.
- Creator
- BLONDIN, JAMES J., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis is a study of economic forecasting in a regional context~ Its main concern is the exposition of the models and the feasibility of the techniques, rather than the actual forecast. The study should be of interest to students of forecasting or regional economics, or to planners interested in the region examined. A shift-share model is presented as an alternative to other regional forecasting techniques, and an application of it is performed on a region consisting of Broward and Dade...
Show moreThis thesis is a study of economic forecasting in a regional context~ Its main concern is the exposition of the models and the feasibility of the techniques, rather than the actual forecast. The study should be of interest to students of forecasting or regional economics, or to planners interested in the region examined. A shift-share model is presented as an alternative to other regional forecasting techniques, and an application of it is performed on a region consisting of Broward and Dade Counties, Florida.
Show less - Date Issued
- 1974
- PURL
- http://purl.flvc.org/fcla/dt/13660
- Subject Headings
- Regional economics--Mathematical models, Economic forecasting--Florida--Dade County, Economic forecasting--Florida--Broward County, Shift-share analysis, Metropolitan Dade County (Fla)--Economic conditions, Broward County (Fla)--Economic conditions
- Format
- Document (PDF)
- Title
- A STUDY OF BLACK-WHITE MALE INCOME DIFFERENTIALS - 1950, 1960, 1970.
- Creator
- BOLES, KEITH EDWIN., Florida Atlantic University, Hemley, David D., College of Business, Department of Economics
- Abstract/Description
-
Alternative models to explain the variability in income differentials. between Black males and White males over thirty-two Standard Metropolitan Statistical Areas (SMSAs) were estimated by ordinary least squares using cross-sectional data for each of three points in time - 1950, 1960, and 1970. Two models were tested for each time period . The Becker-type model used a Black-White male median income ratio as a dependent variable with age, education, three occupational mix variables, and...
Show moreAlternative models to explain the variability in income differentials. between Black males and White males over thirty-two Standard Metropolitan Statistical Areas (SMSAs) were estimated by ordinary least squares using cross-sectional data for each of three points in time - 1950, 1960, and 1970. Two models were tested for each time period . The Becker-type model used a Black-White male median income ratio as a dependent variable with age, education, three occupational mix variables, and current population as the independent variables. The second model used the same variables with the exception that current population was replaced by population lagged ten years. All variables were in Black-White ratio form. The results are of interest to the student of the economics of discrimination, since the methodology can be applied to the examination and comparison between any two categories of people.
Show less - Date Issued
- 1973
- PURL
- http://purl.flvc.org/fcla/dt/13562
- Subject Headings
- Income distribution--United States--Statistics, Income distribution--United States--Mathematical models, African Americans--Economic conditions
- Format
- Document (PDF)
- Title
- Concert fee determination: A game-theoretic approach.
- Creator
- Brooks, Arthur Charles., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis is in three parts. In the first, the cultural economics literature which concerns the labor market for musicians is reviewed and its major theoretical and empirical points are examined. The second part begins by briefly surveying the history and main topics in game theory, providing sufficient background for an understanding of the simplified Rubinstein-Stahl bargaining model, which is then described. The third part applies this model to the process by which concert fees are...
Show moreThis thesis is in three parts. In the first, the cultural economics literature which concerns the labor market for musicians is reviewed and its major theoretical and empirical points are examined. The second part begins by briefly surveying the history and main topics in game theory, providing sufficient background for an understanding of the simplified Rubinstein-Stahl bargaining model, which is then described. The third part applies this model to the process by which concert fees are settled upon, and leads to a number of conclusions. Among these are that subjective discount rates reflect bargaining power in the situation described, and that these discount rates are affected by the notorieties of the parties involved.
Show less - Date Issued
- 1994
- PURL
- http://purl.flvc.org/fcla/dt/15040
- Subject Headings
- Game theory, Fees, Professional, Musicians--Fees, Performing arts--United States--Finance
- Format
- Document (PDF)
- Title
- ECONOMIC IMPLICATIONS OF GOVERNMENT DEBT AND DEFICITS: DEBT NEUTRALITY OR CROWDING OUT?.
- Creator
- BROSNAHAN, GARY W., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
- Abstract/Description
-
The economic implications of federal government debt and deficits have been the source of much debate in the past, and will continue to be for many years to come. Economists are far from agreement with respect to the effects that government borrowing has on the economy. Two major schools of thought have emerged which arrive at seemingly contrary conclusions. One school of thought contends that government bonds are perceived as net wealth by the public, and that government borrowing crowds out...
Show moreThe economic implications of federal government debt and deficits have been the source of much debate in the past, and will continue to be for many years to come. Economists are far from agreement with respect to the effects that government borrowing has on the economy. Two major schools of thought have emerged which arrive at seemingly contrary conclusions. One school of thought contends that government bonds are perceived as net wealth by the public, and that government borrowing crowds out private investment, while the other school of thought arrives at precisely the opposite conclusions. An empirical investigation was used to test the validity of the conclusions of these schools of thought.
Show less - Date Issued
- 1987
- PURL
- http://purl.flvc.org/fcla/dt/14383
- Subject Headings
- Debts, Public, Budget deficits
- Format
- Document (PDF)
- Title
- Conjectural variations in models of the oligopoly.
- Creator
- Brown, Roger Joseph Jr., Florida Atlantic University, Hung, Chao-shun, College of Business, Department of Economics
- Abstract/Description
-
This thesis reviews the contemporary work in the area of the role of conjectural variations on the equilibrium price and quantity, in models of the oligopolistic industry. Industry is shown to be capable of producing from the competitive output, to the monopolistic, depending on the conjectural variations of the industry members. Furthermore, it is shown that the results are independent of the number of firms within the industry, as opposed to the classic Cournot model of the oligopoly....
Show moreThis thesis reviews the contemporary work in the area of the role of conjectural variations on the equilibrium price and quantity, in models of the oligopolistic industry. Industry is shown to be capable of producing from the competitive output, to the monopolistic, depending on the conjectural variations of the industry members. Furthermore, it is shown that the results are independent of the number of firms within the industry, as opposed to the classic Cournot model of the oligopoly. Additionally, the notion of consistency of conjectures is reviewed, that is when firms' conjectures regarding their rivals are correct. The imposed requirement of consistency of conjectures is shown to result in a unique price-quantity solution. This latter unique solution is further investigated, by incorporating simple transport costs into the oligopoly model.
Show less - Date Issued
- 1988
- PURL
- http://purl.flvc.org/fcla/dt/14458
- Subject Headings
- Oligopolies
- Format
- Document (PDF)
- Title
- HABIT, EMULATION, AND SURVIVAL IN THE SUPERMARKET.
- Creator
- Brundage, Brendan, Boudreaux, Christopher, Florida Atlantic University, Department of Economics, College of Business
- Abstract/Description
-
Substantivism helps us appreciate two views on the meaning of the economy: the institutional view and the neoclassical view. This study analyzes the behaviors of producers and consumers in the supermarket industry and finds that the neoclassical school lacks a realistic behavioral theory. We observe that institutional behavioral theory is closer to reality because it recognizes that consumers are affected by their social environment through habit and emulation, and producers are survival...
Show moreSubstantivism helps us appreciate two views on the meaning of the economy: the institutional view and the neoclassical view. This study analyzes the behaviors of producers and consumers in the supermarket industry and finds that the neoclassical school lacks a realistic behavioral theory. We observe that institutional behavioral theory is closer to reality because it recognizes that consumers are affected by their social environment through habit and emulation, and producers are survival maximizers. These social obstacles prevent humans from acting like homoeconomicus. We focus only on the supermarket industry, but this conclusion can be applied to all industries.
Show less - Date Issued
- 2020
- PURL
- http://purl.flvc.org/fau/fd/FA00013536
- Subject Headings
- Economics, Supermarkets, Consumer behavior, Economy
- Format
- Document (PDF)
- Title
- AN ECONOMETRIC MODEL OF FLORIDA'S GOLD COAST.
- Creator
- BUCCA, JANE KIRKER., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis deals with regional econometric models. The first chapter discusses static economic modeling. Chapter Two deals with models of substate regional economics. The third chapter presents an econometric model of Florida's Gold Coast including dynamic analysis of short and long run adjustment.
- Date Issued
- 1981
- PURL
- http://purl.flvc.org/fcla/dt/14049
- Subject Headings
- Economics--Florida--Mathematical models, Florida--Economic conditions--Mathematical models
- Format
- Document (PDF)
- Title
- LOCATION ANALYSIS AND ITS APPLICATION.
- Creator
- CAGATAY, TANER., Florida Atlantic University, Hung, Chao-shun, College of Business, Department of Economics
- Abstract/Description
-
This thesis discusses the locational theories and their implications and applications on the Turkish Consulate. Chapters I and II analyzes the theories of Von Thunen, Jsard, and Hoover. Chapter III discuses Weber's theories and an application on the Turkish Consulate. Chapter IV summarizes the conclusions.
- Date Issued
- 1985
- PURL
- http://purl.flvc.org/fcla/dt/14261
- Subject Headings
- Economics--Mathematical models, Turkey--Economic conditions
- Format
- Document (PDF)
- Title
- Pollution control success in the United States: A cross sectional analysis.
- Creator
- Carr, Jered Byron Jr., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
- Abstract/Description
-
This thesis empirically examined pollution control success in the United States during the period 1987 to 1992. The purpose of this analysis was to determine whether pollution control success can be predicted by a set of factors suggested by the economics literature as being important to effective control of pollution. Multiple regression analyses were performed on dependent variables representing air, water, and solid waste quality. It was found that although the predictors of pollution...
Show moreThis thesis empirically examined pollution control success in the United States during the period 1987 to 1992. The purpose of this analysis was to determine whether pollution control success can be predicted by a set of factors suggested by the economics literature as being important to effective control of pollution. Multiple regression analyses were performed on dependent variables representing air, water, and solid waste quality. It was found that although the predictors of pollution control success differ across the three types of pollution, variables representing pollution abatement expenditures and strength of enforcement were important throughout.
Show less - Date Issued
- 1994
- PURL
- http://purl.flvc.org/fcla/dt/15092
- Subject Headings
- Pollution, Pollution, Environmental protection--Economic aspects, Environmental protection
- Format
- Document (PDF)