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This paper shows that geographical investor heterogeneity strongly influences sovereign risk. While standard sovereign debt models mainly attribute the absence of sovereign defaults to foreign creditor retaliation, a new theoretical literature argues that domestic creditors also affect borrowing...
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decision. Endogeneity, selection and measurement errors of risk exposure are considered in the estimation. The estimates show …
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-varying whereas the correlation remain constant over time. Under the parameterized alternative hypothesis the variance may change …
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Publicly provided health care implies considerable intergenerational redistribution. The possibility of accumulating a fund or debt will affect the degree of redistribution as well as how efficient the financing of health care is. In a voting model we study how governments inability to make...
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-year gained and cost per quality-adjusted life-year, QALY, gained) of treating osteoporotic women in Denmark with alendronate … epidemiological and cost data for Denmark. In the base-case alendronate was assumed to have a fracture-risk reducing effect for ten … treatment with alendronate in Denmark is cost-effective, provided the treatment is targeted towards high-risk patients …
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