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of assets, income and cash flows, or the abundant liquidity at a low cost. This paper studies the risk behavior of the …
Persistent link: https://www.econbiz.de/10010898454
Theory of Money holds provided the economy is not trapped in a liquidity hole. The traditional theory of comparative …
Persistent link: https://www.econbiz.de/10010635004
a role. Firms characterised by weaker balance sheetsshow higher liquidity sensitivity. …
Persistent link: https://www.econbiz.de/10010750645
Why do investors keep different opinions even though they learn from their own failures and successes? Why do investors keep different opinions even though they observe each other and learn from their relative failures and successes? We analyze beliefs dynamics when beliefs result from a very...
Persistent link: https://www.econbiz.de/10010734229
Why do investors keep different opinions even though they learn from their own failures and successes? Why do investors keep different opinions even though they observe each other and learn from their relative failures and successes? We analyze beliefs dynamics when beliefs result from a very...
Persistent link: https://www.econbiz.de/10010735042
We build a two-country open-economy monetary union DSGE model in order to explain some macroeconomic imbalances in the euro area. We fo cus on the role of cyclic al behaviour of public spending and sovereign risk premium. Pro-cyclical primary public expenditures in one country do not lead to...
Persistent link: https://www.econbiz.de/10010899832
This article analyses the impact of oil price on bond risk premiums issued by emerging economies. No empirical study has yet focussed on the effects of the oil price on government bond risk premiums. We develop a model of credit spread with data from the EMBIG index of seventeen countries, from...
Persistent link: https://www.econbiz.de/10010935037
comparable prospects, i.e. those which exhibit the same canonical expected utility. This leads to a fully choice-based theory of …
Persistent link: https://www.econbiz.de/10011025681
Although it is endowed with many interesting properties, the theory of decision-making under risk by Loomes and Sugden …
Persistent link: https://www.econbiz.de/10011025889
La Vallée (1968), in the expected utility model, gives a sufficient condition for positivity of the bid-selling spread. In this article, we show that this sufficient condition, namely decreasing absolute risk aversion (DARA) is in fact necessary. Moreover, we prove that the expected utility...
Persistent link: https://www.econbiz.de/10010750466