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Jouini, Elyès; Porte, Vincent - HAL - 2007

In this paper, we point out the role of anticomonotonicity in the characterization of efficient contingent claims, and in the measure of inefficiency size of financial strategies. Two random variables are said to be anticomonotonic if they move in opposite directions. We first provide necessary...

Persistent link: https://www.econbiz.de/10008793718

Efficient Trading Strategies with Transaction Costs

Jouini, Elyès; Porte, Vincent - HAL - 2007

In this article, we characterize efficient contingent claims in a context of transaction costs and multidimensional utility functions. The dual formulation of utility maximization helps us outline the key notion of cyclic anticomonotonicity. Moreover, after defining a utility price in this...

Persistent link: https://www.econbiz.de/10008793933

Efficient portfolios in financial markets with proportional transaction costs

Campi, Luciano; Jouini, Elyès; Porte, Vincent - HAL - 2013

In this article, we characterize efficient portfolios, i.e. portfolios which are optimal for at least one rational agent, in a very general financial market model of foreign currencies with proportional transaction costs. In our setting, transaction costs may be random, time dependent, have...

Persistent link: https://www.econbiz.de/10010733710

Efficient trading strategies in financial markets with proportional transaction costs

Campi, Luciano; Jouini, Elyès; Porte, Vincent - HAL - 2011

Persistent link: https://www.econbiz.de/10010618168

Investing In Civilization

Freeman, Alan - Volkswirtschaftliche Fakultät, … - 2009

This paper asks whether, and how, the state can solve the present crisis. The method of enquiry is to analyze what it did in the two comparable crises of 1893 and 1929. In each case, a prolonged and structural slowdown in the world economy was followed by financial crisis, a period of turmoil...

Persistent link: https://www.econbiz.de/10008728072

The Road out of Crisis and the Policy Choices Facing Russia

Freeman, Alan - Volkswirtschaftliche Fakultät, … - 2013

today, combined with an industrial policy whose centre is human development – forging and nurturing a talented and creative …

Persistent link: https://www.econbiz.de/10011260174

Culture, Labour, and Resources: Principles of a Practical Alternative Growth Path

Freeman, Alan - Volkswirtschaftliche Fakultät, … - 2013

This paper was due to be presented to the 2013 conference of the World Association for Political Economy, in Florianopolis, Brasil. In the event, the author was unable to attend. The paper summarises the main conclusions of ten years of research into the Creative Industries in London and the UK,...

Persistent link: https://www.econbiz.de/10011260737

Sustained Macroeconomic Reforms, Tepid Growth: A Governance Puzzle in Bolivia?

Kaufmann, Daniel; Mastruzzi, Massimo; Zavaleta, Diego - EconWPA - 2003

comparability, we also utilize cross-country governance indicators. …

Persistent link: https://www.econbiz.de/10005118669

Governance and the City: An Empirical Exploration into Global Determinants of Urban Performance

Kaufmann, Daniel; Leautier, Frannie; Mastruzzi, Massimo - EconWPA - 2004

We contribute to the field of urban governance and globalization through an empirically-based exploration of … indicators of globalization (at the country and city level), city governance, city performance (access and quality of … framework and a set of hypotheses, and then test them econometrically. The findings suggest that good governance and …

Persistent link: https://www.econbiz.de/10005062505

The Inequality of Influence

Hellman, Joel; Kaufmann, Daniel - EconWPA - 2003

Environment and Enterprise Performance Survey (BEEPS) conducted among 6,500 firms in 27 transition countries. We refer to the …

Persistent link: https://www.econbiz.de/10005407672