Showing 1 - 10 of 11
We present a new model of forward dynamic utilities. In doing so, we provide unique (viscosity) solutions. In addition, we introduce Hausdorff-continuous viscosity solutions to the portfolio model.
Persistent link: https://www.econbiz.de/10008633344
the rich to the detriment of the poor. The use of financial and investment dimensions previously missing in the literature …
Persistent link: https://www.econbiz.de/10009372548
Hitherto very few studies on the inequality-finance(investment) nexus have focused on the African continent owing to … lack of relevant data. This paper integrates previously missing investment and financial components in the assessment of … how finance affects pro-poor investment channels. Findings reveal, but for the case of foreign investment, financial …
Persistent link: https://www.econbiz.de/10009372610
private investment: contrary to mainstream consensus where-in, English common-law countries are better at championing private …
Persistent link: https://www.econbiz.de/10009369595
intermediary channels of depth, efficiency, activity and size. Findings show that legal origin matters in the finance-investment … nexus; though its ability to explain aggregate investment dynamics only through financial intermediary channels is limited …
Persistent link: https://www.econbiz.de/10009369629
We present a new method of estimating the asset stochastic volatility and return. In doing so, we overcome some of the limitations of the existing random walk models, such as the GARCH/ARCH models.
Persistent link: https://www.econbiz.de/10008623472
We derive general explicit solutions to the investment-consumption model without the restrictive assumption of HARA or …
Persistent link: https://www.econbiz.de/10008587467
In this paper, we provide general closed-form solutions to the incomplete-market random-coefficient dynamic optimization problem without the restrictive assumption of exponential or HARA utility function. Moreover, we explicitly express the optimal portfolio as a function of the optimal...
Persistent link: https://www.econbiz.de/10008457184
-variance framework. We find that an increase in expected output price will surely cause the risk averse firm to increase the inputs …’ demand, while an increase in expected energy price will surely cause the risk averse firm to decrease the demand for energy … risk averse firm to decrease the demands for the non-risky inputs. Furthermore, we investigate the two cases with only …
Persistent link: https://www.econbiz.de/10011259317
We devise an estimation methodology which allows preferences estimation and comparative statics analysis without a reliance on Taylor’s approximations and the indirect utility function.
Persistent link: https://www.econbiz.de/10008633357