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Does Strengthening Self-Defense Law Deter Crime or Escalate Violence? Evidence from Castle Doctrine

Cheng, Cheng - 2012

From 2000 to 2010, more than 20 states passed laws that make it easier to use lethal force in self-defense. Elements of these laws include removing the duty to retreat in places outside of one's home, adding a presumption of reasonable belief of imminent harm, and removing civil liability for...

Persistent link: https://www.econbiz.de/10013105463

The Paradox of Civilization : Pre-Institutional Sources of Security and Prosperity

Dal Bo, Ernesto - 2015

that could protect surplus (“security”). But the joint achievement of security and prosperity had to escape a paradox … conflict when defense capability is fixed, but may allow for security and prosperity when defense capability is endogenous …. Some economic shocks and military innovations deliver security and prosperity while others force societies back into a trap …

Persistent link: https://www.econbiz.de/10013009442

What Does Equity Sector Orderflow Tell Us About the Economy?

Beber, Alessandro - 2010

Investors rebalance their portfolios as their views about expected returns and risk change. We use empirical measures of portfolio rebalancing to back out investors' views, specifically their views about the state of the economy. We show that aggregate portfolio rebalancing across equity sectors...

Persistent link: https://www.econbiz.de/10013135882

Sovereign CDS and Bond Pricing Dynamics in the Euro-Area

Palladini, Giorgia - 2011

This analysis tests the price discovery relationship between sovereign CDS premia and bond yield spreads on the same reference entity. The theoretical no-arbitrage relationship between the two credit spreads is confronted with daily data from six Euro-area countries over the period 2004-2011. As...

Persistent link: https://www.econbiz.de/10013118422

When Bonds Matter : Home Bias in Goods and Assets

Coeurdacier, Nicolas - 2011

This paper presents a model of international portfolios with real exchange rate and non financial risks that accounts for observed levels of equity home bias. A key feature is that investors can trade equities as well as domestic and foreign real bonds. Bonds matter: in equilibrium, investors...

Persistent link: https://www.econbiz.de/10013118846

Social Impact Bonds in Nonprofit Health Care : New Product or New Package?

Pauly, Mark V. - 2013

This note considers a relatively new form of financing for social services, the "Social Impact Bond." Proponents of Social Impact Bonds argue that they present a solution to several problems in funding social services, including performance measurement and the distribution of risk. Using a...

Persistent link: https://www.econbiz.de/10013082772

Reaching for Yield in the Bond Market

Becker, Bo - 2013

Reaching-for-yield--investors' propensity to buy riskier assets in order to achieve higher yields--is believed to be an important factor contributing to the credit cycle. This paper presents a detailed study of this phenomenon in the corporate bond market. We show that insurance companies, the...

Persistent link: https://www.econbiz.de/10013084730

Monetary Policy, Bond Risk Premia, and the Economy

Ireland, Peter N. - 2015

This paper develops an affine model of the term structure of interest rates in which bond yields are driven by observable and unobservable macroeconomic factors. It imposes restrictions to identify the effects of monetary policy and other structural disturbances on output, inflation, and...

Persistent link: https://www.econbiz.de/10013015094

The Determinants of Stock and Bond Return Comovements

Baele, Lieven - 2010

We study the economic sources of stock-bond return comovements and its time variation using a dynamic factor model. We identify the economic factors employing a semi-structural regime-switching model for state variables such as interest rates, inflation, the output gap, and cash flow growth. We...

Persistent link: https://www.econbiz.de/10013151357

A Factor Analysis of Bond Risk Premia

Ludvigson, Sydney C. - 2010

This paper uses the factor augmented regression framework to analyze the relation between bond excess returns and the macro economy. Using a panel of 131 monthly macroeconomic time series for the sample 1964:1-2007:12, we estimate 8 static factors by the method of asymptotic principal...

Persistent link: https://www.econbiz.de/10013152009