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Going Offshore : Investments in German Wind Energy Under Uncertainty
Chen, Yu-Fu - 2015
Employing a continuous-time real options modeling framework, this paper scrutinizes the incentives to invest in German offshore wind farms. The focus of the analysis is the mode of action of the German feed-in tariff system for offshore wind energy deployment. The numerical results reveal that...
Persistent link: https://www.econbiz.de/10013019855
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Macroeconomic Uncertainty and the Impact of Oil Shocks
Van Robays, Ine - 2014
This paper evaluates whether macroeconomic uncertainty changes the impact of oil shocks on the oil price. Using a structural threshold VAR model, we endogenously identify different regimes of uncertainty in which we estimate the effects of oil demand and supply shocks. The results show that...
Persistent link: https://www.econbiz.de/10013065379
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Market Structure, Technological Gap and Vertical Linkage Effects from Foreign Direct Investment
Kadochnikov, Sergey; Drapkin, Igor M. - 2021
This paper is based on the model of backward linkages from foreign direct investment (FDI) Lin/Saggi (2003), where the market structure of the final goods sector is represented by a monopoly or Cournot oligopoly, and the supplier sector - by a pure monopoly. We extend this model by examining...
Persistent link: https://www.econbiz.de/10013316575
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Exchange Rate Uncertainty and International Portfolio Flows
Caporale, Guglielmo Maria - 2013
is negative in all countries except Canada (where it is positive) in the case of bond flows. Under the assumption of risk …
Persistent link: https://www.econbiz.de/10013081704
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Forecasting Tail Risks
De Nicolo, Gianni - 2015
the period 1972:1-2014:12 to forecasts our tail risk indicators with each model in pseudo-real time. Our key finding is …
Persistent link: https://www.econbiz.de/10013024363
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Dimensions of Macroeconomic Uncertainty : A Common Factor Analysis
Henzel, Steffen - 2014
Uncertainty about the future course of the economy is a possible driver of aggregate fluctuations. To identify the different dimensions of uncertainty in the macroeconomy we construct a large dataset covering all types of economic uncertainty. We then identify two fundamental factors which...
Persistent link: https://www.econbiz.de/10013045927
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Inflation Expectations and Inflation Uncertainty in the Eurozone : Evidence from Survey Data
Arnold, Ivo J.M. - 2013
This paper uses the European Commission's Consumer Survey to assess whether inflation expectations have converged and whether inflation uncertainty has diminished following the introduction of the Euro in Europe. Consumers' responses to the survey suggest that inflation expectations depend more...
Persistent link: https://www.econbiz.de/10012754359
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Why Does Idiosyncratic Risk Increase with Market Risk
Bartram, Söhnke M. - 2017
From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive … has roots in fundamentals. Higher market risk predicts greater idiosyncratic earnings volatility as well as dispersion and …
Persistent link: https://www.econbiz.de/10012950299
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Conditional Volatility and Correlations of Weekly Returns and the VaR Analysis of 2008 Stock Market Crash
Pesaran, Bahram - 2013
making and risk management. Over the past three decades there has been a trend towards increased asset return correlations … models proposed in the literature can be used to formally characterize and quantify market risk. In particular, we ask how … adequate these models are for modelling market risk at times of financial crisis. In doing so we consider a multivariate t …
Persistent link: https://www.econbiz.de/10013094817
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The Effect of Terrorist Incidents on Capital Flows
Filer, Randall K. - 2013
Current literature shows a significant negative impact of terrorism on countries economies. We explore this relationship in more detail. Using an unbalanced panel of over 160 countries for up to 25 years and the Global Terrorism Database (GTD) we show a decrease in FDI as a consequence of...
Persistent link: https://www.econbiz.de/10013089605