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Dit onderzoek is gebaseerd op de correctiemethode van Forbes en Rigobon (2002), waarbij de correlaties worden aangepast om de heteroskedasticiteit bias op te lossen. Er wordt onderzocht of er sprake is van besmetting gedurende de recente financiële crisis, gestart in 2007, tussen de beurzen van de vier BRIC landen en de beurs van de Verenigde Staten. Het voornaamste doel is om te bepalen of de invloeden tussen die landen veranderen door de crisis, alsook het bepalen of er bij die invloeden sprake is van besmetting. Om dit te doen voeren we een vector autoregressie uit, berekenen we verscheidene correlaties en worden er impulse response functies opgesteld. De conclusie is niet rechtlijnig, omdat we besmetting vinden voor sommige landen tijdens enkele maar niet alle crisisjaren. Samengevat kunnen we zeggen dat er besmetting is en dat de invloeden tussen de BRIC landen en de VS veranderen door de crisis.

BRIC. --- Contagion. --- Equity markets. --- Heteroscedasticity bias. --- Interdependencies. --- S180-economie. --- United States.

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This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for India, but to show how the tool works so that policy makers and regulators can see its potential advantages and develop it for their own uses. It generates scenarios for future assets and income dependent on user-defined and changeable assumptions for asset returns, contributions, wages, years in the labor force, and annuity prices, among other parameters. Assumptions can be tailored to different countries and user determined scenarios. Many extensions could be developed, which will be the subject of future work. The international context is highlighted through similar modeling by regulators and pension funds in other jurisdictions. Some of these are more complex or complete than the results in this paper, but by explaining the initial model and making the coding freely available, the authors provide a powerful yet simple and low-cost tool to be adopted and adapted.

Annuities --- Bond Market --- Equity Markets --- Forecasting --- Government Bonds --- Pension Funds --- Pensions --- Retiremnet Income --- Simulations --- Social Protections & Assistance --- Social Protections and Labor --- Stock Market --- Technology Industry --- Technology Innovation

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The Asian stock market is commonly regarded as confusing for many investors, yet it is arguably the most exciting market in the world today. In this fascinating book, Measor uses his personal insights and in-depth knowledge to show readers how to navigate the risky waters of investing in the Asian stock market, through ten timeless principles of investing - from the need of investing to the basic elements of evaluating a listed company; from the importance of dividends to the choice of some good growth stocks; and from the hidden logics of IPOs to the trick of speculation. Readers will also le

Stock exchanges. --- Stock exchanges --- Value investing --- Finance --- Business & Economics --- Investment & Speculation --- Bulls and bears --- Commercial corners --- Corners, Commercial --- Equity markets --- Exchanges, Securities --- Exchanges, Stock --- Securities exchanges --- Stock-exchange --- Stock markets --- Investments --- Capital market --- Efficient market theory --- Speculation

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BUSINESS & ECONOMICS --- Finance / General --- Investment & Speculation --- Finance --- Business & Economics --- Stock exchanges. --- Bulls and bears --- Commercial corners --- Corners, Commercial --- Equity markets --- Exchanges, Securities --- Exchanges, Stock --- Securities exchanges --- Stock-exchange --- Stock markets --- Capital market --- Efficient market theory --- Speculation

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Corporation law --- Stock exchanges --- Bulls and bears --- Commercial corners --- Corners, Commercial --- Equity markets --- Exchanges, Securities --- Exchanges, Stock --- Securities exchanges --- Stock-exchange --- Stock markets --- Capital market --- Efficient market theory --- Speculation --- Law and legislation --- Money market. Capital market --- Company law. Associations --- Netherlands