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Environmental economics assumes that reliance on price signals, adjusted for externalities, normally leads to efficient solutions to environmental problems. We explore a limiting case, when market volatility created “mixed signals”: waste paper and other recycled materials were briefly worth...
Persistent link: https://www.econbiz.de/10005407615
In this paper, the volatility of the return generating process of the market portfolio and the slope coefficient of the market model is assumed to follow a Markov switching process of order one. The results indicate very strong evidence of volatility switching behaviour in a sample of returns in...
Persistent link: https://www.econbiz.de/10005413049
In this paper, we relate the returns in the thirty securities in the Dow Jones index to regime shifts in stock market volatility. We apply a Markov switching process of order one to market volatility and examine the variation in the securities' returns in different volatility regimes. We test...
Persistent link: https://www.econbiz.de/10005134927
equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …
Persistent link: https://www.econbiz.de/10005124935
and price inflation. In a lesser extent, the share of U.S. equities held by institutional investors can explain the risk …
Persistent link: https://www.econbiz.de/10005134780
We don't have an abstract yet, sorry. But I think the title is pretty descriptive.
Persistent link: https://www.econbiz.de/10005407873
The aims of this paper are estimate and forecast the Non-Accelerating Inflation Rate of Unemployment, or NAIRU, for …
Persistent link: https://www.econbiz.de/10005407874
and population welfare been suffering of both a persistent and high inflation during the four first years of its young … inflation is contained but wages and pensions arrears increase quickly. Such a situation is not sustainable in the short and we …
Persistent link: https://www.econbiz.de/10005407979
of the two. We compare the accounting definition of deficit with the economic definition which takes inflation into …
Persistent link: https://www.econbiz.de/10005412564
inflation, has remained unexplained in terms of its mathematical origins. Keynes had attempted to relate inflation to a … mechanism of "sticky wages and prices". Hitherto, such theories of inflation have remained unproven and disputable. Recently …, during the so-called "New Economy" era, characterized by a spread of electronic transactions and Internet commerce, inflation …
Persistent link: https://www.econbiz.de/10005412616