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Rational expectations and ambiguity: A comment on Abel (2002)

Zimper, Alexander; Ludwig, Alexander - In: Economics Bulletin 4 (2006) 2, pp. 1-15

Abel (2002) proposes a resolution of the riskfree rate and the equity premium puzzles by considering pessimism and doubt. Pessimism is characterized by subjective probabilistic beliefs about consumption growth rates that are stochastically dominated by the objective distribution. The subjective...

Persistent link: https://www.econbiz.de/10005416970

Rational expectations and ambiguity: A comment on Abel (2002)

Zimper, Alexander; Ludwig, Alexander - In: Economics Bulletin 4 (2006) 2, pp. 1-15

Persistent link: https://www.econbiz.de/10010835899

A Comparative Analysis of IPO Proceeds Under Alternative Regulatory Environments: A Comment.

Brisley, Neil - In: Economics Bulletin 7 (2003) 1, pp. 1-7

We clarify and reinterpret the results of Benveniste and Wilhelm (1990) concerning the effect of a uniform price restriction on the proceeds of an IPO. If regular institutional investors are, on average, at least as well informed as ordinary retail investors then our corrected version of...

Persistent link: https://www.econbiz.de/10005196448

A Comparative Analysis of IPO Proceeds Under Alternative Regulatory Environments: A Comment.

Brisley, Neil - In: Economics Bulletin 7 (2003) 1, pp. 1-7

Persistent link: https://www.econbiz.de/10010630091

Is trust an ambiguous rather than a risky decision?

Corcos, Anne; Pannequin, François; Bourgeois-gironde, Sacha - In: Economics Bulletin 32 (2012) 3, pp. 2255-2266

According to an early approach, the decision to trust in the one-shot anonymous trust game is intuitively tantamount to … investors in the trust game. They found no correlation: trust decision cannot be viewed as a risky decision. However, since the … probabilities of possible returns are unknown, we argue that trust behavior may correlate more specifically with ambiguity aversion …

Persistent link: https://www.econbiz.de/10011278612

Financial Confidence Among Retirees: The Role of Financial Advice and Planning Duration

Chatterjee, Swarnankur; Salter, John R.; Harness, … - In: Economics Bulletin 31 (2011) 1, pp. 315-323

This paper examines the factors contributing to the financial confidence of retirees using the 2008 wave of a new nationally representative proprietary dataset of retirees. The results indicate that income, risk tolerance, duration of pre-retirement financial planning, and the utilization of...

Persistent link: https://www.econbiz.de/10008788576

A Variant of Uzawa's Theorem

Schlicht, Ekkehart - In: Economics Bulletin 5 (2006) 6, pp. 1-5

Uzawa (1961) has shown that balanced growth requires technological progress to be strictly Harrod neutral (purely labor-augmenting). This paper offers a slightly more general variant of the theorem that does not require assumptions about savings behavior or factor pricing and is much easier to...

Persistent link: https://www.econbiz.de/10005416834

Capital-Gender Complementarity

Raveh, Ohad - In: Economics Bulletin 35 (2015) 1, pp. 494-506

Is capital more complementary to one of the genders? More specifically, which types of capital are complementary to which gender? This paper presents a first attempt at estimating capital-gender complementarities, at both aggregated and disaggregated levels. By employing a panel of 12 OECD...

Persistent link: https://www.econbiz.de/10011199677

Monetary policy should be aggressive -result of the flattening phillips curve-

Masuda, Kazuto - In: Economics Bulletin 28 (2008) 12, pp. 0-0

As International Monetary Fund(2006) suggested, the inflation rate is less sensitive to business cycles in 1990s than before 1990s in the world. The so called "flattening Phillips curve" becomes the global phenomenon. If this phenomenon is dominant in the world, how does it affect the monetary...

Persistent link: https://www.econbiz.de/10011208222

Does growth promote Equality? A Note on Piketty's capital on the twenty-first century

Rodriguez, Alvaro - In: Economics Bulletin 34 (2014) 3, pp. 2044-2050

A simple model of the distribution of wealth is presented. In such a model the distribution of wealth follows a Pareto type II distribution whose parameters depend on the growth rates discussed in the book. Compared to previous studies of the asymptotic distribution of wealth in economies...

Persistent link: https://www.econbiz.de/10011039052