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banking in different countries). Progress of banking systems in EMs was additionally shaped by local peculiarities at the turn … financial system was dominating in CIS). The common features of emerging markets were low banking services' penetration and high … countries with high debt, technological risks, and changing clients demands will become the drivers of banking systems …
Persistent link: https://www.econbiz.de/10012591564
The article presents a historical review of the literature related to the empirical problem of excessive risk premium. The risk premium (the difference between the return on equities and risk-free rate) observed in financial markets cannot be reconciled with theoretical models of financial...
Persistent link: https://www.econbiz.de/10011539760
theory of forward exchange, or in the theory of international trade, as in the analysis of dumping. As a general proposition … about arbitrage, the LOP underlies every core proposition in neoclassical trade theory, e.g. the factor price equalization …
Persistent link: https://www.econbiz.de/10008633412
This paper presents a general equilibrium model with technological uncertainty, financial markets and imperfect information. The future consists of uncertain environments that are more or less clearly distinguishable (measurable). This limits the possibilities of specialization and...
Persistent link: https://www.econbiz.de/10010360332
This article explores the effectiveness of applying a new multidimensional graphical method to the teaching and learning of economics. In essence, the paper extends the significance of multi-dimensional graphs to study any economic phenomenon from a multidimensional perspective. The paper...
Persistent link: https://www.econbiz.de/10010228348
. The first part emphasizes how mainstream, utility-based choice theory has eradicated "time" from the analysis, in contrast … with the seminal contribution to the subjective theory of value proposed by Gossen in 1858. The limits of Becker's well … (Pleasant) Time by Means of (Unpleasant) Time: Some Notes on Consumption Theory and Time Use, 2014). Finally, the approach is …
Persistent link: https://www.econbiz.de/10010485641
Equity in health has to be distinguished from equity in access to health care, or equity in the distribution of health care resources. We take as a working definition of health for our purposes the number of quality adjusted life years that a person may expect to enjoy over his or her lifetime....
Persistent link: https://www.econbiz.de/10014024170
steady state. This out-of-equilibrium approach is not a minor adjunct to standard economic theory; it is economics done in a …
Persistent link: https://www.econbiz.de/10014024373
We examine, with the tools of economics, a fundamental tenet of some of the most recent theoretical work in sociology, which we refer to as the Postmodernist Critique : preferences are socially constructed, firms exploit their monopoly power through advertising in order to create new (false)...
Persistent link: https://www.econbiz.de/10014025697
thinking and theory. In particular, which role do calibration, statistical inference, and structural change play? What is the …
Persistent link: https://www.econbiz.de/10010574762