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Estimating the Impact of Restructuring on Electricity Generation Efficiency : The Case of the Indian Thermal Power Sector

Cropper, Maureen - 2011

India. Between 1995 and 2009, 85 percent of coal-based generation capacity owned by state governments was unbundled from …

Persistent link: https://www.econbiz.de/10013120321

Options-Pricing Formula with Disaster Risk

Barro, Robert J. - 2016

A new options-pricing formula applies to far-out-of-the money put options on the overall stock market when disaster risk is the dominant force, the size distribution of disasters follows a power law, and the economy has a representative agent with Epstein-Zin utility. In the applicable region,...

Persistent link: https://www.econbiz.de/10013001208

The Value of Transmission in Electricity Markets : Evidence from a Nuclear Power Plant Closure

Davis, Lucas W. - 2014

Reliable estimates of the value of electricity transmission are critical if these heavily-regulated investments are to be made cost-effectively. In this paper, we exploit the abrupt closure of the San Onofre Nuclear Generating Station (SONGS) in February 2012. During the previous decade, SONGS...

Persistent link: https://www.econbiz.de/10013053145

Chernobyl'S Subclinical Legacy : Prenatal Exposure to Radioactive Fallout and School Outcomes in Sweden

Almond, Douglas; Edlund, Lena; Palme, Marten - 2021

Japanese atomic bomb survivors irradiated 8-25 weeks after ovulation subsequently suffered reduced IQ [Otake and Schull, 1998]. Whether these findings generalize to low doses (less than 10 mGy) has not been established. This paper exploits the natural experiment generated by the Chernobyl...

Persistent link: https://www.econbiz.de/10013222941

Measuring Changes in the Bilateral Technology Gaps between China, India and the U.S. 1979 - 2008

Shen, Keting - 2015

's technology gaps both with the U.S. and India between 1979 and 2008, comparing the technology level of these economies using a CES … India and the U.S. for the period before 2008. The pairwise gaps between the U.S. and China, and the U.S. and India remain … productivity than India over the period, the bilateral technology gap between China and India is still in India's favor. India had …

Persistent link: https://www.econbiz.de/10013013187

What is Different About Urbanization in Rich and Poor Countries? Cities in Brazil, China, India and the United States

Chauvin, Juan Pablo - 2016

American metropolitan areas with comparable geographic units in Brazil, China and India. Both Gibrat's Law and Zipf's Law seem … to hold as well in Brazil as in the U.S., but China and India look quite different. In Brazil and China, the implications … of the spatial equilibrium hypothesis, the central organizing idea of urban economics, are not rejected. The India data …

Persistent link: https://www.econbiz.de/10012998418

Too-Systemic-To-Fail : What Option Markets Imply About Sector-Wide Government Guarantees

Kelly, Bryan T. - 2011

Investors in option markets price in a substantial collective government bailout guarantee in the financial sector, which puts a floor on the equity value of the financial sector as a whole, but not on the value of the individual firms. The guarantee makes put options on the financial sector...

Persistent link: https://www.econbiz.de/10013123683

Option Prices in a Model with Stochastic Disaster Risk

Seo, Sang Byung - 2013

Contrary to the Black-Scholes model, volatilities implied by index option prices depend on the exercise price of the option and are often higher than realized volatilities. We explain both facts in the context of a model that can also explain the mean and volatility of equity returns. Our model...

Persistent link: https://www.econbiz.de/10013073202

Advance Refundings of Municipal Bonds

Ang, Andrew - 2013

Municipal bonds are often "advance refunded." Bonds that are not yet callable are defeased by creating a trust that pays the interest up to the call date, and pays the call price. New debt, generally at lower interest rates, is issued to fund the trust. Issuing new securities generally has zero...

Persistent link: https://www.econbiz.de/10013075855

Transform Analysis and Asset Pricing for Affine Jump-Diffusions

Duffie, Darrell - 2008

In the setting of affineamp;apos; jump-diffusion state processes, this paper provides an analytical treatment of a class of transforms, including various Laplace and Fourier transforms as special cases, that allow an analytical treatment of a range of valuation and econometric problems. Example...

Persistent link: https://www.econbiz.de/10012774824

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