Generalized Calvo Approach
This article compares the properties of different non-linear Kalman filters: the well-known Unscented Kalman filter (UKF), the Central Difference Kalman Filter (CDKF) and an unknown Quadratic Kalman filter (QKF). A small financial DSGE model is repeatedly estimated by several quasilikelihood methods with different filters for data generated by the model. Errors in parameters estimation are a measure of the filters’ quality. The result shows that the QKF has a reasonable advantage in terms of quality over the CDKF and the UKF, albeit with some loss in speed.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.