This is a critique of an article of M. Fahim Khan pulished in an earlier issue of the same journal It argues that in other economic systems including capitalism too play an important role to mitigate the hardships of the poor but unlike the Islamic system they do not show their impact on income...

The marketplace, along with its price system, is the single most important institution in a western-style free enterprise economy. The ability of prices to adjust to changes in supply and demand conditions enables the market to function efficiently and lies behind the magical invisible hand...

According to financial theory, corporate hedging can increase shareholder value in the presence of capital market imperfections such as direct and indirect costs of financial distress, costly external financing, and taxes. This paper presents a comprehensive review of the extensive existing...

In this paper, the relevance of national accounts statistics and their underlying conceptual framework is investigated for their four roles: description and object of analysis, tool for analysis and forecasting, tool for communication and decision-making and input for alternative accounts...

The Union Members had some many problems to solve when drafting the Treaty of Rome (1958) that very little attention was paid to social policies provisions on the rights of workers, even less space was devoted to the migration of labour in the common market and the idea of full employment was...

In most Initial Public Offerings (IPO) in the world, the underwriter selects syndicate members and uses the information of their investors' clientele to set the offering price. The objective of this paper is to develop a model of the "book building" process in which the formation of the...

This note is concerned with the derivation of the distribution of a random variable X in terms of the distribution of Y given X, where X, Y are discrete random variables with finite support

In this paper I will analyse the redistribution of income amongst n generations using the Single-mindedness Theory. I will introduce a new expression for the balanced-budget constraint, no longer based on lump- sum transfers as in the traditional literature, but rather on more realistic labour...

This paper applies extreme value theory to measure downside risk for European equity markets. Two related measures, value at risk and the excess loss probability estimator provide a coherent approach to optimally protect investor wealth opportunities for low quantile and probability...

The choice of the appropriate linear model before this can be used for planning and decision making, has been the concern of many statistical workers. Most of the methods in the literature aim at evaluating the descriptive ability of the candidate models. In the present paper an evaluation...