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Uncertainty of Multiple Period Risk Measures
Lönnbark, Carl - Institutionen för Nationalekonomi, Umeå Universitet - 2009
In general, the properties of the conditional distribution of multiple period returns do not follow easily from the one-period data generating process. This renders computation of Value-at-Risk and Expected Shortfall for multiple period returns a non-trivial task. In this paper we consider some...
Persistent link: https://www.econbiz.de/10005198007
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A Corrected Value-at-Risk Predictor
Lönnbark, Carl - Institutionen för Nationalekonomi, Umeå Universitet - 2008
In this note it is argued that the estimation error in Value-at-Risk predictors gives rise to underestimation of portfolio risk. We propose a simple correction and find in an empirical illustration that it is economically relevant.
Persistent link: https://www.econbiz.de/10005651967
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Financing Agricultural Value Chains in Central America
Coon, Jeremy; Campion, Anita; Wenner, Mark D. - Inter-American Development Bank - 2010
. Historically, small- and medium-sized famers experience problems accessing formal finance. Participation in a well-structured and … guarantees for smaller actors, relying on donor financed guarantee funds, and buyer/exporter finance; (iii) creditor rights are …
Persistent link: https://www.econbiz.de/10010654535
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Financing Agricultural Value Chains in Central America
Coon, Jeremy; Campion, Anita; Wenner, Mark D. - Inter-American Development Bank - 2010
. Historically, small- and medium-sized famers experience problems accessing formal finance. Participation in a well-structured and … guarantees for smaller actors, relying on donor financed guarantee funds, and buyer/exporter finance; (iii) creditor rights are …
Persistent link: https://www.econbiz.de/10009198527
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On the role of the estimation error in prediction of expected shortfall
Lönnbark, Carl - Institutionen för Nationalekonomi, Umeå Universitet - 2012
In the estimation of risk measures such as Value at Risk and Expected shortfall relatively short estimation windows are typically used rendering the estimation error a possibly non-negligible component. In this paper we build upon previous results for the Value at Risk and discuss how the...
Persistent link: https://www.econbiz.de/10010564003
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Macro Impact with Micro Money: 25 Years of Support to Microenterprise Title: Macro impacto con micro dinero: 25 años de apoyo a la microempresa
Sáenz, María Victoria; Luna, Elba N. - Inter-American Development Bank
This book presents but a few examples of the many Bank-financed productive activities carried out by the people of the region, and pays tribute to the women and men who, in their efforts to succeed, daily renew their hopes for a better future. In addition, the book pays tribute to the...
Persistent link: https://www.econbiz.de/10010943387
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The Challenge of an Urban Continent
Rojas, Eduardo - Inter-American Development Bank
The present publication traces the history of the Bank's lending for urban development and discusses its approaches to current urban issues. It is intended for specialists and individuals interested in getting acquainted with the evolution of the Bank portfolio.
Persistent link: https://www.econbiz.de/10010943411
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The Fiscal Institutions of Tomorrow
Martínez Guzmán, Juan Pablo; MARCEL, MARIO; … - Inter-American Development Bank
The Fiscal Institutions of Tomorrow, the first publication in the series Institutions for People, addresses issues of public management that are key to economic development in Latin America and the Caribbean. It presents the challenges that the countries in the region face to strengthen fiscal...
Persistent link: https://www.econbiz.de/10010943442
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Inter-Firm Linkages and Finance in Value Chains
Pietrobelli, Carlo; Navas-Alemán, Lizbeth; Kamiya, Marco - Inter-American Development Bank - 2012
The literature on small and medium-sized enterprise (SME) finance highlights linkages with large firms in value chains … implications for SMEs. This paper explores this gap by looking for evidence on the impact of SMEs' access to finance of inter … technologies in Costa Rica), a comparison between the different sources and instruments of finance used by SMEs is presented. A …
Persistent link: https://www.econbiz.de/10010943802