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Beta dispersion and market timing
Kuntz, Laura-Chloé - 2020
The beta dispersion, which is the spread of betas on a stock market, can be interpreted as a measure of market vulnerability. This study examines the economic idea of the beta dispersion and its application as a market return predictor. Based on the empirical beta dispersion observed in the US...
Persistent link: https://www.econbiz.de/10012264452
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Learning through period and physical time
Backhaus, Teresa; Huck, Steffen; Leutgeb, Johannes Josef; … - 2022
periods of varying length that full accounts of subjects' learning requires the consideration of, both, 'period time' and … 'physical time.' …
Persistent link: https://www.econbiz.de/10013326949
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Non-additivity of subjective expectations over different time intervals
Haan, Peter; Sun, Chen; Sunde, Uwe; Weizsäcker, Georg - 2022
We examine the additivity of stock-market expectations over different time intervals. When asked about a ten … expectations over two shorter time intervals that cover the same ten years. Such sub-additivity is irrational in that it cannot … stem from aggregating short-term expectations. Model estimates show that the pattern is consistent with a time perception …
Persistent link: https://www.econbiz.de/10014088354
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Maturity shortening and market failure
Thierfelder, Felix - 2012
Motivated by the financial crisis of 2007-2009 several papers have provided explanations for why liquidity may dry up during market stress. This paper also looks at this issue but focuses on the question as to why the liquidity crunch was not uniform across maturities. As funding pressures were...
Persistent link: https://www.econbiz.de/10009509089
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The user cost of nonrenewable resources and green accounting
Diewert, Walter E.; Fox, Kevin J. - 2016
Persistent link: https://www.econbiz.de/10011575038
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National economic impacts of an EU environmental policy : an applied general equilibrium analysis
Conrad, Klaus; Schmidt, Tobias F. N. - 1995
The objective of this paper is to quantify the economic effects of the introduction of a system of tradable permits in the European Union (EU). For this purpose we use linked applied general equilibrium models (AGE) for eleven EU member countries. This method enables us to measure the change in...
Persistent link: https://www.econbiz.de/10011620808
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National economic impacts of an EU environmental policy : an applied general equilibrium analysis
Conrad, Klaus; Schmidt, Tobias F. N. - 1995
Persistent link: https://www.econbiz.de/10013428017
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Modelling of foreign trade in applied general equilibrium models : theoretical approaches and sensitivity analysis with the GEM-E3 model
Koschel, Henrike; Schmidt, Tobias F. N. - 1998
The specification of the world closure, i.e. the way of closing the domestic economy model by incorporating the external sector, is a crucial component for those models in which production and consumption is not specified endogenously for all countries. This paper looks explicitly at the...
Persistent link: https://www.econbiz.de/10013428143
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Towards a theory and policy of eco-innovation : neoclassical and (co-)evolutionary perspectives
Rennings, Klaus - 1998
approaches have their merits and limits concerning a theory and policy of ecoinnovation. Neoclassical methods are most elaborated … question is if innovations toward sustainability can be treated like normal innovations or if a specific theory and policy are … social and institutional innovation in both eco-innovation theory and policy. …
Persistent link: https://www.econbiz.de/10013428160
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Technological change in economic models of environmental policy : a survey
Löschel, Andreas - 2001
This paper provides an overview of the treatment of technological change in economic models of environmental policy. Numerous economic modeling studies have confirmed the sensitivity of mid- and long-run climate change mitigation cost and benefit projections to assumptions about technology...
Persistent link: https://www.econbiz.de/10001628920