Random risk aversion and the cost of eliminating the foreign exchange risk of the Euro

This paper answers the following questions. If the Euro foreign exchange risk is given, what is the cost of eliminating such a risk? How does risk aversion affect this cost? What is the relation between the insurance premium on the Euro and this cost? Is it possible to find out the level of risk aversion by looking upon actual risk-free yields? If risk aversion is random, how do risk-free yields move with the return on the Euro currency? Economists usually take for granted that preferences are stable. By contrast, business news networks mention frequently changing risk appetite, or changing investor sentiment, in order to explain market behavior. This paper shows that it is worthwhile to presume that risk aversion is random, because such randomness provides direct answers to the questions raised above.The Euro, foreign exchange risk, expected utility, cost of risk, risk aversion, risk compensation, insurance premium, risk-free yields, Monte Carlo simulations, bootstrap sampling, EU financial markets

Ara Güler'in gözden kaçan Montpellier sergisi

Taha Toros Arşivi, Dosya Adı: Ara GülerUnutma İstanbul projesi İstanbul Kalkınma Ajansı'nın 2016 yılı "Yenilikçi ve Yaratıcı İstanbul Mali Destek Programı" kapsamında desteklenmiştir. Proje No: TR10/16/YNY/010

New evidence on the excess smoothness of consumption

The purpose of this paper is to revisit the evidence on the excess smoothness of consumption within the permanent income model, by using recently available monthly data. Two formulations of the univariate process of personal disposable income are adopted: in the levels and in the log-levels. More than one sample is studied. Three different impacts are defined and measured. In theory, the three of them should be equal. The conclusion that is strongly supported is that these three impacts are significantly different from each other, implying that excess smoothness is still a feature of the data. However a weak version of the permanent income hypothesis is endorsed which is that consumption changes by the annuity value of revised expectations of future income. In other terms, permanent income innovations have a significant, although relatively small, effect on consumption

Malta zindanlarında kimler vardı?

Taha Toros Arşivi, Dosya No: 173-Malta Sürgünleri. Not: Gazetenin "Perde Arkası" köşesinde yayımlanmıştır

MPLM -- MaTeLo Product Line Manager

International audienceThe diversity of requirements elicited from different customers leads to the development of many variants. Furthermore, compliance with safety standards as mandated for safety-critical systems requires high test efforts for each variant. Model-based testing aims to reduce test efforts by automatically generating test cases from test models. In this paper, we introduce variability management to usage models, a widely used model-based testing formalism. We present an approach that allows to derive usage model variants from a desired set of features and thus generate test cases for each variant. The approach is integrated in the industrial model-based testing tool chain MaTeLo and exemplified using an industrial case study from the aerospace domain

"Fahim Bey ve biz"

Taha Toros Arşivi, Dosya No: 132-Abdülhak Şinasi Hisarİstanbul Kalkınma Ajansı (TR10/14/YEN/0033) İstanbul Development Agency (TR10/14/YEN/0033

Nazım şiiri:Memleketimden İnsan Manzaraları

Taha Toros Arşivi, Dosya Adı: Nazım Hikmetİstanbul Kalkınma Ajansı (TR10/14/YEN/0033) İstanbul Development Agency (TR10/14/YEN/0033

[Cemil Paşa]

Taha Toros Arşivi, Dosya No: 135-Cemil Topuzlu (Cemil Paşa)Unutma İstanbul projesi İstanbul Kalkınma Ajansı'nın 2016 yılı "Yenilikçi ve Yaratıcı İstanbul Mali Destek Programı" kapsamında desteklenmiştir. Proje No: TR10/16/YNY/010