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Modeling uncertainty : predictive accuracy as a proxy for predictive confidence
Rich, Robert W. (contributor); Tracy, Joseph S. (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001751995
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Idiosyncratic risk and volatility bounds, or can models with idiosyncratic risk solve the equity premium puzzle?
Lettau, Martin (contributor) - 2001 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001590071
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Defined contribution plans: the role of income, age and match rates
Bassett, William - Federal Reserve Bank of New York - 1995
The growth of defined contribution plans has sparked debate concerning their effectiveness as a vehicle for retirement … whether DC plans have expanded overall pension coverage and whether their effects on retirement saving are the same across … different age and income groups. Not surprisingly, I find that contributions to and early withdrawals from DC plans are strongly …
Persistent link: https://www.econbiz.de/10005512222
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Business cycle fluctuations and the distribution of consumption
De Giorgi, Giacomo; Gambetti, Luca - Federal Reserve Bank of New York - 2015
This paper sheds new light on the interactions between business cycles and the consumption distribution. We use Consumer Expenditure Survey data and a factor model to characterize the cyclical dynamics of the consumption distribution. We first establish that our approach is able to closely match...
Persistent link: https://www.econbiz.de/10011189147
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Idiosyncratic risk and volatility bounds, or can models with idiosyncratic risk solve the equity premium puzzle?
Lettau, Martin - Federal Reserve Bank of New York - 2001
risk. I show that idiosyncratic risk does not change the volatility bounds at all when consumers have CRRA preferences and … that idiosyncratic risk can help to enter the bounds when idiosyncratic uncertainty depends on the aggregate state of the … individual income data and assume that agents have to consume their endowment. I find that the model does not pass the Hansen and …
Persistent link: https://www.econbiz.de/10005526295
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The effect of state pension cut legislation on bank values
Mehran, Hamid; Cohen, Lee; Cornette, Marcia Millon; … - Federal Reserve Bank of New York - 2014
This study provides an empirical analysis of the impact of Wisconsin and Ohio pension cut legislation on values of banks operating in Wisconsin and Ohio, banks operating in other states in which pension cut legislation was being considered as Wisconsin and Ohio went through its legislative...
Persistent link: https://www.econbiz.de/10010823097
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Evaluating the riskiness of initial public offerings: 1980 - 2000
Peristiani, Stavros C. (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001752009
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Trading risk and volatility in interest rate swap spreads
Kambhu, John (contributor) - 2004 - [Elektronische Ressource]
This paper examines how risk in trading activity can affect the volatility of asset prices. We look for this … swap spread tends to converge to a long-run level, although trading risk can sometimes cause the spread to diverge from … that level. -- convergence trading ; interest rate swaps ; swap spread ; repurchase contracts ; trading risk ; volatility …
Persistent link: https://www.econbiz.de/10001936329
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Sustainable social security: four options
Kitao, Sagiri - Federal Reserve Bank of New York - 2011
the normal retirement age from sixty-six to seventy-three, or 4) means-test the benefits and reduce them one-to-one with … income. While all four policies achieve the same goal, their economic outcomes differ significantly. Options 2 and 3 …
Persistent link: https://www.econbiz.de/10009251201