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Inflation uncertainty : a conference sponsored by the Federal Reserve Bank of Cleveland, November 4 - 6, 1992

In: Journal of money, credit and banking : JMCB 25 (1993) 3, pp. 469-708

Persistent link: https://www.econbiz.de/10001149968

Investment spikes and uncertainty in the petroleum refining industry

Dunne, Timothy; Mu, Xiaoyi - Federal Reserve Bank of Cleveland - 2008

This paper investigates the effect of uncertainty on the investment decisions of petroleum refineries in the US. We … construct uncertainty measures from commodity futures market and use data on actual capacity changes to measure investment … model the investment process using hazard models. An increase in uncertainty decreases the probability a refinery adjusts …

Persistent link: https://www.econbiz.de/10005728983

Believe only what you see: credit rating agencies, structured finance, and bonds

Elamin, Mahmoud - Federal Reserve Bank of Cleveland - 2012

This paper identifies rating verifiability as a key difference that explains why credit rating agencies (CRAs) failed to mitigate information asymmetries in the structured finance market but succeeded in the bond market. Two infinitely repeated models are analyzed. In the first, the rating is...

Persistent link: https://www.econbiz.de/10010592567