Banber Erevani hamalsarani. Tntesagitut'yun.
| E - ISSN | : | 2738-2648 |
| P - ISSN | : | 2579-2946 |
Vol. 4 No. 2 (2013)
Articles
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Articles
Relation of Specialization of Agrarian Sector to Distribution of Labour Costs in Connection with Seasonality of Agricultural Work
AbstractThe labour costs in general subindustries of agricultural production and issues on distribution of labour resource in connection with seasonality of agricultural work are scrutinized in the article. It is especially strongly displayed on conditions of big variety of agro-climatic resources of different high-rise landscape zones of the Republic of Armenia. Based on this structure of labour costs of the republic, it is fixed that about 85% of total labour costs and for particular ones more than 15% is expended in horticulture and animal husbandry (together with forage) for cultivation of cultivated crops and other planting. This indicates that farms are specialized in production of grapes, fruits and production of animal husbandry. However, it doesn't mean that also intraeconomic specialization is as legible, as majority of them has nearly all specified subindustries, which is not often justified from social-economic viewpoint.
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Articles
On Pricing "Ameriabank" CJSC’s Structured Deposi
AbstractIn modern highly volatile international financial markets a critical role in ensuring the solvency of a participant of those markets is employment of adequate mechanisms of protection from market risks. This problem is especially important for banks and participants of financial markets from Armenia, because on the one hand the local market is weakly developed and the securities traded on that market may not match the needs of investors and on the other hand participation in international markets without adequate hedging strategies on opened position can yield to significant losses. In this article an unusual product for Armenian market offered by Ameria Bank is discussed. The product is especially interesting in terms of mathematical modeling and is evaluated as a call/put option. Gold is taken as an underlying asset for the product and using models from financial stochastic calculus the price of the gold is modeled and predicted for the discussed period of time. Then deposits with different maturities and fixed income level are valued as a call/put option. The value of those options represents the required amount necessary for hedging the liability occurred from promising the investor extra income on the top to the fixed.
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Articles
Foreign Money Demand Estimation (an empirical analysis of exchange rates)
AbstractIn this paper we obtain the equation of money demand in the presence of currency substitution. It is shown, that despite penalties to foreign currency use, agents continue to use it for transactions. The problem is solved by using dynamic optimization technique which shows that the main factor influencing the demand for foreign currency is expected depreciation. To forecast the depreciation rate models with partial integration (long memory processes) have been applied. Using Armenian data an empirical analysis has been conducted which has shown that the power of forecasting of the models with partial integration is higher than of random walk. Combining the theoretical and empirical model one can forecast the rate of depreciation and estimate the change in the volume of foreign currency.
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Articles
Requirements to Professional Qualification and Education in the Modern Labor Market
AbstractIn the article the main requirements of employers on professional education in contemporary conditions are considered. On the basis of existing explanations on interactions of employers with establishments of professional education in economic literature, the main requirements of contemporary employers to workers are outlined. Those requirements are the follows: education level, experience, sense of duty, initiative. With the help of analysis of statistical data on education and labor market in the Republic of Armenia, the problem is considered from the point of view of education and revenues to work.
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