Showing 1 - 10 of 235
in price dispersion. TRACE-associated decreases in crossfund bond mark dispersion provide indirect support for …
Persistent link: https://www.econbiz.de/10010373710
Bond excess returns can be predicted by macro factors, however, large parts remain still unexplained. We apply a novel … term structure model to decompose bond excess returns into expected excess returns (risk premia) and the unexpected part … possible determinants of bond excess returns. We find that the expected part of bond excess returns is driven by macro factors …
Persistent link: https://www.econbiz.de/10010436625
. Based on German government bond yieldsfrom September 1972 to May 2019,we construct a rolling window of bond ladders where …
Persistent link: https://www.econbiz.de/10012313784
. Our analysis of bond spreads and equity mar- kets indicates that positive communication influences the risk-free yield …
Persistent link: https://www.econbiz.de/10015419938
In this paper we ‘update’ the option implied probability of default (option iPoD) approach recently suggested in the literature. First, a numerically more stable objective function for the estimation of the risk neutral density is derived whose integrals can be solved analytically. Second,...
Persistent link: https://www.econbiz.de/10010471968
During the global financial crisis, stressed market conditions led to skyrocketing corporate bond spreads that could …-variations in the relationship between systematic risk factors and corporate bond spreads. First, we apply Bayesian model averaging …
Persistent link: https://www.econbiz.de/10011855295
International climate negotiations have so far failed to produce ambitious climate cooperation. We combine laboratory experiments with simulations to investigate the performance of two negotiation design features to address this failure: The Paris Agreement's ratchet-up mechanism, which requires...
Persistent link: https://www.econbiz.de/10015271325
To adequately design and implement effective environmental policies, it is paramount for policymakers to understand preferences for regulatory instruments as well as their individual level determinants. In this study, I experimentally investigate the demand for three environmental policies,...
Persistent link: https://www.econbiz.de/10013282548
Die vorliegende Arbeit untersucht den Einfluss von komplexen Steuertarifsystemen auf die Arbeits-Freizeit-Entscheidung von Individuen. Dazu wird ein wirtschaftswissenschaftliches Experiment mit 96 studentischen Teilnehmern durchgeführt. Es wird eine realitätsnahe Arbeits-Freizeit-Entscheidung...
Persistent link: https://www.econbiz.de/10009242309
This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...
Persistent link: https://www.econbiz.de/10009763127