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Recent literature has proposed new methods for measuring the systemic risk of financial institutions based on observed stock returns. In this paper we examine the reliability and robustness of such risk measures, focusing on CoVaR, marginal expected shortfall, and option-based tail risk...
Persistent link: https://www.econbiz.de/10009720895
The Integrated Government Information System (IGIS) is a private government network comprising several components such as records and data management services, government email, civil registration, the IGIS portal, IGIS data center & disaster recovery center, IGIS network, and a project...
Persistent link: https://www.econbiz.de/10014519844
By international comparison as well as compared to other EU policies, the EU‘s Cohesion Policy (CP) evaluation system … is far developed and institutionalized. This paper analyses the remaining gaps and shortcomings in the CP evaluation … presence of a broad and imprecise CP objective function emerges as a key challenge for evaluations. The evaluation culture is …
Persistent link: https://www.econbiz.de/10014566802
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Through a survey, economic value estimates were obtained on 962 inventions made in the United States and Germany and on which German patent renewal fees were paid to full-term expiration in 1995. A search of subsequent U.S. and German patents yielded a count of citations to those patents....
Persistent link: https://www.econbiz.de/10011417779
We develop an analysis of ex ante monitoring of risky projects in banking. If protected from competition, banks are more concerned about not catching good risk projects when the perceived state of the economy improves, while they are more concerned about being induced to finance bad risk...
Persistent link: https://www.econbiz.de/10011417798
Patent renewal studies reveal a highly rightward-skewed distribution of patent values. Our approach elicits valuations approximating those of the patented invention. This paper focuses on the full-term patents of the application year 1977 held by West German and U.S. residents. The tail of...
Persistent link: https://www.econbiz.de/10011417839