Showing 1 - 10 of 542
Banks should evaluate whether a borrower is likely to default. I apply several techniques in the extensive mathematical literature of stochastic optimal control/dynamic programming to derive an optimal debt in an environment where there are risks on both the asset and liabilities sides. The...
Persistent link: https://www.econbiz.de/10013316580
Since the late 1970s, the price indices underlying the poverty lines in India have been updated using aggregate indices … consumption survey data. We propose an alternative approach that identifies poverty from consumer behaviour, based on the notion … higher levels of poverty in eastern India, and generally, smaller reductions in poverty from 2005 to 2010. Our poverty …
Persistent link: https://www.econbiz.de/10013086396
This paper examines the measurement of social welfare, poverty and inequality taking into account reference …-dependence, loss aversion and diminishing sensitivity — aspects emphasized in Prospect Theory — to social welfare measurement. We … differences between standard poverty and inequality measures based on observed income and measures that are calculated based on …
Persistent link: https://www.econbiz.de/10013086978
Most equivalence scales which are applied in research on poverty and inequality do not depend on income, although there … differing assessments of poverty and inequality under quite general conditions. German microdata will be used to demonstrate and …
Persistent link: https://www.econbiz.de/10013011717
fairness principles, namely equality of opportunity and freedom from poverty, into a joint measure of unfair inequality. Two … inequality. Second, average unfair inequality doubles when complementing the ideal of an equal opportunity society with poverty …
Persistent link: https://www.econbiz.de/10012912680
This paper investigates the robustness of determinants of economic growth in the presence of model uncertainty, parameter heterogeneity and outliers. The robust model averaging approach introduced in the paper uses a flexible and parsimonious mixture modeling that allows for fat-tailed errors...
Persistent link: https://www.econbiz.de/10013129859
estimate the purchasing power parity (PPP) bias in Penn World Table incomes and provide corrected incomes. The bias is …
Persistent link: https://www.econbiz.de/10013135914
very detailed measurement of democracy for 188 countries between 1981 and 2011. Application of the SVMDI highlights a …
Persistent link: https://www.econbiz.de/10013001148
takes stock of theoretical developments, measurement efforts and of the econometric evidence. We start with a simple …
Persistent link: https://www.econbiz.de/10012927189
Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...
Persistent link: https://www.econbiz.de/10012773476