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Risk-Sharing Externalities and Its Implications for Equity Premium in an Infinite-Horizon Economy
Ohno, Hiroaki - In: Czech Economic Review 4 (2010) 2, pp. 168-188
This paper examines asset prices when risk-sharing externalities are incorporated into an infinite-horizon model where consumers are exposed to the endogenous income risks. It is shown that there exist multiple types of equilibria depending on the degree of market participation. Under incomplete...
Persistent link: https://www.econbiz.de/10008557109
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Teorie očekávaného užitku versus kumulativní prospektová teorie: empirický pohled (available in Czech only)
Skořepa, Michal - In: Czech Economic Review 1 (2007) 2, pp. 180-195
This paper pits expected utility theory and cumulative prospect theory against each other as regards their descriptive accuracy. Some older as well as newer pieces of evidence are described which show that under certain circumstances, expected utility theory is not descriptively valid. The most...
Persistent link: https://www.econbiz.de/10005698647
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The Financial Impact of Government Policies on Families with Children in the Czech Republic, Hungary, Poland, and Slovakia
Švarcová, Natálie; Švarc, Petr - In: Czech Economic Review 3 (2009) 1, pp. 048-068
describe the impact of family policies on standard of living and well-being of the families with children. European countries … evidence suggests that the families with children are overrepresented among the population at risk of poverty and family policy … can be seen as an instrument for alleviating the financial burden of the families with children. Presented study compares …
Persistent link: https://www.econbiz.de/10005536986
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Quest for the Best: How to Measure Central Bank Independence and Show its Relationship with Inflation
Maslowska-Jokinen, Aleksandra Anna Maslowska - In: Czech Economic Review 5 (2011) 2, pp. 132-161
). Moreover, estimation results challenge the belief that divergences in CBI-inflation rate estimations are due to differences in …
Persistent link: https://www.econbiz.de/10009251311