Narrow search
Showing 1 - 10 of 171
Cover Image
Financial Fragility with Rational and Irrational Exuberance
Lagunoff, Roger; Schreft, Stacey L. - EconWPA - 1999
failures. Investors forecast the likelihood of loss from contagion and may shift preemptively to safer portfolios, breaking …
Persistent link: https://www.econbiz.de/10005412742
Cover Image
A Crise Financeira Russa
Pinto, Bruno José Marques; Vilela, Thais Machado de Matos - EconWPA - 2005
Fundamental sources of the Russian financial crisis in 1998 are discussed. Focus is made on the time horizon of judgements concerning sustainability of the economic policy. It is argued that the macroeconomic policy pursued by the monetary authorities was not robust in a medium run, but, in the...
Persistent link: https://www.econbiz.de/10005412647
Cover Image
Comparison between Asian, Russian and Turkish financial crises
Lukkarila, Johanna - EconWPA - 2004
Since the start of the 1990s, several countries have abandoned fixed- but-adjustable exchange rate regimes. The tendency towards floating exchange rate regimes, or alternatively monetary unions, has given rise to a debate on the disappearance of pure currency crises, and the literature has...
Persistent link: https://www.econbiz.de/10005556609
Cover Image
A calibrated structural model of the Czech economy
Hlédik, Tibor - EconWPA - 2004
The paper presents a structural model framework for a small open economy. The model, based on optimising households and firms, has been calibrated on Czech macroeconomic data in order to develop an analytic framework suitable for analysing key policy questions related to the Czech Republic’s...
Persistent link: https://www.econbiz.de/10005076689
Cover Image
Money as an indicator variable for monetary policy when money demand is forward looking
Kajanoja, Lauri - EconWPA - 2004
This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We use a forward and backward looking model, calibrated for the euro area. The policymaker cannot completely observe the state of the economy. Money reveals some of the private...
Persistent link: https://www.econbiz.de/10005126466
Cover Image
IPOs, Trade Sales and Liquidations: Modelling Venture Capital Exits Using Survival Analysis
Giot, Pierre; Schwienbacher, Armin - EconWPA - 2003
‘liquidation’ for about 6,000 venture backed firms. We model these exit times using competing risks models. Biotech and internet …
Persistent link: https://www.econbiz.de/10005134683
Cover Image
INNOVATION AND VENTURE CAPITAL EXITS
SCHWIENBACHER, Armin - EconWPA - 2001
This paper addresses the choice between different exit routes of venture capitalists for a project yielding a quality … effects on the optimal exit strategy and on the financial contract. Going public can be more profitable than a trade sale (i … if the entrepreneur enjoys private benefits from staying an independent manager in the firm after the exit of the venture …
Persistent link: https://www.econbiz.de/10005413189
Cover Image
On the Nature of the Corrupt Firm: Where to Situate Liability?
Seubert, Raphaela - EconWPA - 2005
Applying the modern Property Rights Approach to depict employment and firm-internal delegation relationships, this paper addresses the question how to prevent corporate bribery. The analysis and the answers that follow take into account interaction effects between firm-internal delegation...
Persistent link: https://www.econbiz.de/10005561039
Cover Image
Opportunity Costs, Competition, and Firm Selection
Atallah, Gamal - EconWPA - 2002
levels, and that when differences in opportunity costs exit, they can be conveniently represented by fixed costs. Opportunity … induce the exit of low and high cost firms. …
Persistent link: https://www.econbiz.de/10005561413
Cover Image
Entry & Exit: The Lifecyle of a Hedge Fund
Gimbel, Thomas; Gupta, Francis; Pines, Dan - EconWPA - 2004
Using data from the TASS/Tremont hedge fund database, this article performs an empirical analysis of the evolution of the hedge fund industry within an industrial organization framework.
Persistent link: https://www.econbiz.de/10005561436