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Dynamic Hedging in Incomplete Markets: A Simple Solution

Basak, Suleyman; Chabakauri, Georgy - C.E.P.R. Discussion Papers - 2011

jumps, stochastic correlation and portfolio management with benchmarking. …

Persistent link: https://www.econbiz.de/10009024486

Basak, Suleyman; Shapiro, Alex; Teplá, Lucie - C.E.P.R. Discussion Papers - 2005

Portfolio theory must address the fact that, in reality, portfolio managers are evaluated relative to a benchmark, and therefore adopt risk management practices to account for the benchmark performance. We capture this risk management consideration by allowing a prespecified shortfall from a...

Persistent link: https://www.econbiz.de/10005114400

Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management

Basak, Suleyman; Pavlova, Anna; Shapiro, Alex - C.E.P.R. Discussion Papers - 2005

simple risk management practice that accounts for benchmarking can ameliorate the adverse effects of managerial incentives. …

Persistent link: https://www.econbiz.de/10005666418

Can South-South Trade Liberalisation Stimulate North-South Trade?

Fugazza, Marco; Robert-Nicoud, Frédéric - C.E.P.R. Discussion Papers - 2006

This paper uses a combination of Ethier (1982) and Melitz's (2003) models to show that liberalizing trade among developing countries, so-called South-South trade, could contribute to improve the access to international markets of developing countries' would-be exporters. Lower trade barriers...

Persistent link: https://www.econbiz.de/10005124027

Anti-Trust Policy and National Growth: Some Evidence from Italy

Allegra, Elisabetta; Forni, Mario; Grillo, Michele; … - C.E.P.R. Discussion Papers - 2004

downstream sectors, which often face tough international competition. Such firms lose market share, thus worsening the economic … performance of the country. We try to document the importance of this link between competition problems and growth by analysing … from competition problems perform worse in terms of net exports, export growth and output growth. …

Persistent link: https://www.econbiz.de/10005067650

Environmental Innovation Policy and International Competition

Carraro, Carlo; Siniscalco, Domenico - C.E.P.R. Discussion Papers - 1991

competition, Bertrand and Cournot oligopoly) international competition forces the national government to subsidize innovation. The …

Persistent link: https://www.econbiz.de/10005666416

Industrial Policy and Restructuring in Eastern Europe

Hare, Paul G; Hughes, Gordon - C.E.P.R. Discussion Papers - 1992

Using input-output and world price data, this study computes domestic resource costs (DRCs) for branches of manufacturing industry in Bulgaria, Czechoslovakia, Hungary, Poland and the former Soviet Union. The results show a wide dispersion of DRCs in each country, including branches with...

Persistent link: https://www.econbiz.de/10005124050

Fiscal-Monetary Policy Interactions in the Presence of Unionized Labour Markets

Cukierman, Alex; Dalmazzo, Alberto - C.E.P.R. Discussion Papers - 2005

This paper develops a framework for studying the interactions between labour unions, fiscal policy, monetary policy and monopolistically competitive firms. The framework is used to investigate the effects of labour taxes, the replacement ratio, labour market institutions and monetary...

Persistent link: https://www.econbiz.de/10005124224

Measuring Competitiveness

Neary, J Peter - C.E.P.R. Discussion Papers - 2006

This paper reviews alternative approaches to measuring an economy's cost competitiveness and proposes some new measures …

Persistent link: https://www.econbiz.de/10005136527

Green Tax Reform and Competitiveness

Koskela, Erkki; Schöb, Ronnie; Sinn, Hans-Werner - C.E.P.R. Discussion Papers - 1999

and increase the economy's competitiveness. The driving force behind these results is the technological substitution … production and hence increase international competitiveness and output of the economy. …

Persistent link: https://www.econbiz.de/10005136591

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