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Fishing for excuses and performance evaluation

Larmande, François; Ponssard, Jean-Pierre - 2014

We study a principal-agent model in which the agent can provide ex post additional relevant information regarding his performance. In particular, he can provide a legitimate excuse, that is, evidence that a poor result is only due to factors outside his control. However, building a convincing...

Persistent link: https://www.econbiz.de/10010229868

Green national accounting for welfare and sustainability : a taxonomy of assumptions and results

Asheim, Geir B. - 2002

This paper summarizes assumptions made and results obtained in parts of the literature on welfare and sustainability … combinations. This taxonomy is used to organize results in welfare and sustainability accounting. The analysis illustrates how …

Persistent link: https://www.econbiz.de/10011514087

A market mechanism for sustainable and efficient resource use under uncertainty

Quaas, Martin F.; Winkler, Ralph - 2017 - This version: June 2017

Sustainability and efficiency are potentially conflicting social objectives in natural resource management. We propose … determines the maximal tenure length guaranteeing that the sustainability goal is obeyed for sure over the entire period. In …

Persistent link: https://www.econbiz.de/10011663635

To consolidate or not to consolidate? : a multi-step analysis to assess needed fiscal sustainability

Afonso, António; Alves, José; Jalles, João Tovar - 2022

specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF's Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …

Persistent link: https://www.econbiz.de/10012938962

The greener, the higher : labor demand of automotive firms during the green transformation

Fackler, Thomas; Falck, Oliver; Goldbeck, Moritz; Hans, … - 2024

We investigate differences in labor demand between German automotive firms specializing in green propulsion technology and those with a focus on combustion engines. To this end, we introduce a firm-level labor demand index based on the near-universe of online job postings and firms’ patent...

Persistent link: https://www.econbiz.de/10014551870

The circular economy

Fullerton, Don - 2024

Research about the circular economy is dominated by engineers, architects, and social scientists in fields other than economics. The concepts they study can be useful in economic models of policies – to reduce virgin materials extraction, to encourage green design, and to make better use of...

Persistent link: https://www.econbiz.de/10014529224

Active currency investing and performance benchmarks

Melvin, Michael; Shand, Duncan - 2010

There are no established benchmarks for evaluating currency investment manager performance. Some analysts have suggested that known investing styles like momentum, purchasing power parity, and carry serve as benchmarks. Challenges for this approach include: there is no market portfolio; there...

Persistent link: https://www.econbiz.de/10003967792

Ranking of VaR and ES Models : performance in developed and emerging markets

Zikovic, Sasa; Filer, Randall Keith - 2012

An inherent problem with comparing and ranking competing Value at Risk (VaR) and Expected shortfall (ES) models is that they measure only a single realization of the underlying data generation process. The question is whether there is any significant statistical difference in the performance of...

Persistent link: https://www.econbiz.de/10009665398

Measuring alpha in the fund management industry : do female managers perform better?

Babalos, Vassilios; Caporale, Guglielmo Maria; … - 2013

This paper examines the performance of 358 European diversified equity mutual funds controlling for gender differences. Fund performance is evaluated against funds' designated market indices and representative style portfolios. Consistently with previous studies, no significant differences in...

Persistent link: https://www.econbiz.de/10009752997

Goals and rules in central bank design

Walsh, Carl E. - 2015

Beginning with the Reserve Bank of New Zealand Act of 1989, central banking reforms have focused on assigning clear goals for which monetary policy authorities can be held accountable. Inflation targeting regimes provide examples of such goal-based policy frameworks. An alternative approach,...

Persistent link: https://www.econbiz.de/10010503465