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Conditions for turning the ex ante risk premium into an ex post redemption for EU government debt
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
Basel III classifies government debt as risk free while actual interest rates in the European Union (EU) show large … differences not only because of liquidity but mainly because of the risk of default, as also reflected in credit default swaps …. Curiously such debt defaults may not happen so that creditors do not need to cover losses. The risk premium then becomes a …
Persistent link: https://www.econbiz.de/10009372590
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The yield curve and the prediction on the business cycle: a VAR analysis for the European Union
Cinquegrana, Giuseppe; Sarno, Domenico - Volkswirtschaftliche Fakultät, … - 2010
risk premium. We propose the estimates of the models and their out-of-sample forecasts through both the European Union GDP …
Persistent link: https://www.econbiz.de/10008550561
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A Model of Monetary Equilibrium with Random Output and Restricted Borrowing
Mierzejewski, Fernando - 2010
combining risk and cash holdings. Unlike the model of Tobin, the prices of the underlying exposures are established in actuarial …
Persistent link: https://www.econbiz.de/10013148534
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How much is enough?
Freeman, Alan - Volkswirtschaftliche Fakultät, … - 2009
This article assesses the extent and nature of the stimulus that will be required to end the economic crisis that opened in 2008. It compares the present economic situation to that which opened in 1929 and studies the relation between state spending, investment, and employment.
Persistent link: https://www.econbiz.de/10005836783
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The cost of capital in markets with opaque intermediaries and the risk-structure of interest rates
Mierzejewski, Fernando - Volkswirtschaftliche Fakultät, … - 2008
capital is exchange by a unit of risk, or, in other words, it determines the market price of risk. Episodes of liquidity …
Persistent link: https://www.econbiz.de/10005105710
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How Bad is US Unemployment?
Freeman, Alan; Desai, Radhika - Volkswirtschaftliche Fakultät, … - 2009
This article assesses the significance of the January 2009 US unemployment figures. The steep fall of 4 million jobs is greater than any 12-month fall in history. Does this mean that 2007-2008 heralds the worst recession since 1929? This article assesses the empirical evidence of the US payroll...
Persistent link: https://www.econbiz.de/10005617073
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Money and Keynesian Uncertainty
Lucarelli, B. - Volkswirtschaftliche Fakultät, … - 2010
Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a...
Persistent link: https://www.econbiz.de/10008839509
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Make a bubble, take a free lunch, break a bank
Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2012
Standard economics is known to be incapable of integrating the real and the monetary sphere. The ultimate reason is that the whole theoretical edifice is built upon a set of behavioral axioms. Therefore, the formal starting point is moved to structural axioms. This makes it possible to formally...
Persistent link: https://www.econbiz.de/10011111041
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Монетаристко развитие на теорията на търсенето на пари
Sedlarski, Teodor - Volkswirtschaftliche Fakultät, … - 2012
This article suggests a possible approach to the explanation of the monetarist money demand theory and the related policy implications in the teaching of History of economic thought. For the purpose of better understanding Milton Friedman’s contribution the emphasis is put on the conceptual...
Persistent link: https://www.econbiz.de/10011112567
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Crowding Out, Deficits, and Interest Rates: Reply
Cebula, Richard - Volkswirtschaftliche Fakultät, … - 1987
This Note endeavors to illustrate the relevance of the impact of the budget deficit upon the interest rate to the issue of crowding out. It is argued that empirical studies of the impact of deficits upon interest rates may be very useful in det­ermining whether (and how) crowding out occurs,...
Persistent link: https://www.econbiz.de/10011260629