Abstract
This paper reviews three articles that discuss some form of financial risk modeling methodology. The articles discussed are "Model-Based Stress Test: Linking Stress Tests to VaR for Market Risk" by Carol Alexander and Elizabeth Sheedy, "Risk and Probability Measures" by Phelem Boyle, and "Realized Volatility and Correlation" by Anderson, Torben, et al.


Table of Contents:
Abstract
Article Reviews
Alexander, Carol and Elizabeth Sheedy. "Model-Based Stress Test: Linking Stress Tests to VaR for Market Risk".
Boyle, Phelim. "Risk and Probability Measures."
Anderson, Torben, et al. "Realized Volatility and Correlation."

From the Paper
"Volatility is the focus of all risk modeling in financial analysis because the greater the volatility the greater the risk of the investment or a portfolio exhibiting a high degree of volatility. Anderson et al, in "Realized Volatility and Correlation" describe how volatility has come to dominate risk modeling literature and that this literature has increasingly focused on "higher-frequency data". Thus begins these researchers' quest to attempt to match actual volatility levels with more accurate forecasting techniques."

Tags:portfolio skewness methodology value-at-risk, binomial tree model

Abstract
This paper examines how, in the last quarter century, the U.S. has experienced a drop in both crime rates and arrest rates and how many criminologists have speculated on the reasons for this drop in crime. It shows how Nobel Prize winner, Gary Becker, in his work, ?Crime and Punishment, An Economic Approach,? was the first economist to explain the theory of deterrence as a function of econometrics and how, according to Becker, if the punishment costs the criminal more than the crime benefits the criminal, then the criminal will rationally be deterred from committing the crime. It looks at how, although the Uniform Crime Report and the National Crime Victims Survey support Becker?s economic model of crime, scientists have struggled to prove Becker?s model with sound, empirical research.

From the Paper
"The deterrence/incapacitation argument is important for legislation such as "three strikes you're out? in which after three convictions a prisoner receives automatic jail time. If deterrence is not a key factor, the threat of incapacitation does not work. By definition, incapacitation is a by-product of deterrence. Without incapacitation, deterrence would not be a workable theory. Levitt concludes in his paper, that incapacitation may imprison the majority of people who would commit crimes no matter what, however, incapacitation without deterrence may make others more likely to commit crimes, who otherwise may have been deterred (Levitt, 370) increasing rather than decreasing arrest rates."

Tags:incapacitation, incarceration, punishment, criminal, arrest

Abstract
The paper creates a regression equation to explain the variance in consumer expenditures for energy fuel. All metrics associated with regression and the data (mostly from various areas of the Census Bureau) are discussed. Also included is a sample prediction using the equation with a discussion of how economic policy might be affected by the relationship of the independent variables to the dependent variables.

Tags:recession, economics, interpretation

Abstract
This paper reviews the question regarding religion and its correlation to crime. The paper discusses how in terms of economics, the prevalence of crime in a particular geographic area deters fiscal growth and contributes immensely to the decay and deterioration of a community and a society. The paper further discusses how, when it comes to religion, a community of religious inhabitants contributes to the economy since if, it is seen as a haven of peace and order, the resources spent on crime prevention, prosecution and rehabilitation can best be put to more productive means such as recreational and educational facilities for the community.

From the Paper
"The question of religion and its correlation to crime, and vice versa, is always and important and interesting topic not only in terms of this economics paper but in other areas of studies as well. Economics wise, the prevalence of crime in a particular geographic area deter fiscal growth and contributes immensely to the decay and deterioration of a community and a society. On the matter of religion, a community of religious inhabitants contributes to the economy since if it is seen as a haven of peace and order, the resources spent on crime prevention, prosecution and rehabilitation can best be put to more productive means such as recreational and educational facilities for the community. A caveat to the previous statement is that the religion being discussed is in general terms considering we have seen religions that promote hatred and violence-this should be considered more an exemption than the rule!"

Tags:social, stigma, moral, belief, Heaton

From the Paper
"APPLICATION OF MATHEMATICAL METHODS IN ECONOMIC ANALYSIS

When mathematical methods and statistical techniques are applied to the analysis of economic problems and issues, the term usually applied to the process of applied economics is econometrics (Ekelund & H?bert, 1991, p. 372). The goal of econometrics is the development of valid, reliable, and value free predictive models of economic phenomena.
Alan Greenspan (1991, p. 52), Chairman of the Federal Reserve Board, stressed the importance of econometric models as a means of providing a clear understanding of economic events. He argued that the greatest advantage of a fully articulated model is that it helps the forecaster keep track of the interrelationships among the primary variables of interest (Greenspan, 1991, p. 53). Within the context of this argument, he ..."

Abstract
This essay talks about a linear regression model in ordinary least squares regression, the problems that may arise in an OLS model and how it can be fixed through generalized least squares. Generalized Least Squares (GLS) regression is used when problems occur in OLS estimation. The paper includes graphs and formulae supporting the analysis.

From the Paper
"Ordinary Least Squares (OLS) regression is a common tool used for economic forecasting when analyzing time series and cross-sectional data. It is quite common as it is one of the easiest ways of estimating parameters in a simple or multiple regression model. Generalized Least Squares (GLS) regression is used when problems occur in OLS estimation. Such problems will cause are estimators to no longer be the Best Linear Unbiased Estimate (BLUE) or efficient and so it is necessary to use a transformed model. In this essay I will show how both OLS and GLS are derived through equations and discuss the problems that may occur under OLS estimation and why it is more suitable to use GLS to estimate a linear model when certain problems occur."

Tags:generalized, least, ordinary, economics, formula

Abstract
A paper on the econometric process and its analysis in lieu of the Coffee Shop case analysis.

Tags:econometric, analysis, process

Abstract
This paper discusses the speculation surrounding the business model of Toyota and the likelihood of Toyota surpassing General Motors (GM) in the near future. It identifies the necessary economic model that will explain this phenomenon. The paper then gives accurate predictions surrounding the future trends of sales and profits for both companies. It provides graphs to illustrate its points.

Table of Contents:
The Competitiveness of Toyota and GM: Implications From the Model
Toyota's Price Elasticity: How Can Toyota Sell More than GM at a Higher Price?

From the Paper
"Toyota's fleet of hybrid cars is so expansive and popular, that the consumer preference factor favors them. Since the society is generally becoming more 'green'; Toyota has seen substantial increases in the quantity demanded of these cars. Also, consumers who don't necessarily buy Hybrid cars may affiliate some philanthropic notion in regards to Toyota's current strategy and still prefer to buy automobiles from the company.
"The price of gas is a major determinant within this model, as the price of gasoline continues to increase, there is the expectation that the quantity demanded of automobiles in general will fall, however companies like Toyota that market cars with higher miles per gallon, may not face the most significant decrease in the quantity demanded as GM."

Tags:competitor, globalization, model, hybrid

Abstract
The paper looks at how Maxwell (2005) and others discuss the nature of qualitative research and cite examples of quantitative methods now well accepted in the social sciences, including survey methods, laboratory experiments, formal methods (such as econometrics), and other methods such as mathematical modeling. The beginning point for this analysis of qualitative research is a survey of literature to show what has already been achieved and to develop a sense of the answers developed by other researchers. Certain types of intervention are cited as ways of changing behavior, based on other research, on case studies, on direct reports, and so on.

From the Paper
"Maxwell (2005) and others discuss the nature of qualitative research and cite examples of quantitative methods now well accepted in the social sciences, including survey methods, laboratory experiments, formal methods (such as econometrics), and other methods such as mathematical modeling. The beginning point for this analysis of qualitative research is a survey of literature to show what has already been achieved and to develop a sense of the answers developed by other researchers. Certain types of intervention are cited as ways of changing behavior, based on other research, on case studies, on direct reports, and so on. The questions being addressed in this qualitative study are broad and..."

Tags:research, design, methods

Abstract
Business statistics can be considered a branch of science that enables one to make the right decisions. This paper shows that business statistics have uses in many areas, including financial analysis, econometrics, auditing, production, and operations, such as the improvement of services and marketing research.

From the Paper
"Acquiring skills in Business Statistics enables one to make analysis of data and take decisions using a gamut of statistical analysis packages or programming environments. Business Statistics wields a high level of influence in high-level, strategic analysis of real-world areas of difficulty across the boundaries of disciplines. We see a lot of collective actifity in fields such as risk in financial markets, the modelling of the choice of consumers and behavior of corporates, and in the creation of indices to measure political risk. Such activities have only enhanced the importance of Business Statistics. (Welcome to the Discipline of Econometrics and Business Statistics)"

Tags:management, organization