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Persistent link: https://www.econbiz.de/10009724823
I show that the irreversibility of dying coupled with gradual information acquisition over time on the likely arrival and eventual effectiveness of vaccines confers a real option value to lockdown strategies that delay the incidence of a pandemic.The case for lockdown strategies becomes stronger...
Persistent link: https://www.econbiz.de/10012510750
Contingent Convertible bonds (CoCos) are debt instruments that convert into equity or are written down in times of distress. Existing pricing models assume conversion triggers based on market prices and on the assumption that markets can always observe all relevant firm information. But all...
Persistent link: https://www.econbiz.de/10011818282
We use newly collected individual-level hunger recall information from the China Family Panel Survey to estimate the … indicator, and the individual hunger experience. The nonlinearity in famine exposure may explain the variation in the famine …'s effect on later life health found in previous studies. We also find that exposure to famine-induced hunger early in life …
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Over a five-year period in the 1990s Vietnam experienced annual economic growth of more than 8% and a decrease of 15 points in the proportion of children chronically malnourished (stunted). We estimate the extent to which changes in the distribution of child nutritional status can be explained...
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Transaction costs play a key role in the behaviour of smallholders in developing countries. We investigate smallholder tobacco cultivation in Malawi, Malawi's major export crop, and exploit the introduction of an additional tobacco auction floor to measure the impact of a reduction in...
Persistent link: https://www.econbiz.de/10011520537