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Within the last five years, Canada, Sweden and New Zealand have joined the ranks of the United Kingdom and other countries in issuing government bonds that are indexed to inflation. Some observers of the experience in these countries have argued that the United States should follow suit. This...
Persistent link: https://www.econbiz.de/10012473261
Our primary goal in this paper is to ascertain whether the absolute and relative rankings of managed funds are sensitive to the benchmark chosen to measure normal performance. We employ the standard CAPM benchmarks and a variety of APT benchmarks to investigate this question. We found that there...
Persistent link: https://www.econbiz.de/10012477358
We use tailored surveys and benchmarking in the flat-weave rug industry to better understand the shortcomings of …
Persistent link: https://www.econbiz.de/10012479427
In a world economy that is highly integrated, most policies produce effects across the border. This is often believed to be an argument for greater global governance, but the logic requires scrutiny. There remains strong revealed demand for policy and institutional diversity among nations,...
Persistent link: https://www.econbiz.de/10012480157
) Improved Stochastic Ranking Evolution Strategy (ISRES), (iii) Multi-Level Single-Linkage (MLSL) algorithm, (iv) Stochastic … Global Optimization (StoGo), and (v) Evolutionary Strategy with Cauchy distribution (ESCH). The other two algorithms are … give a detailed comparison of algorithms, we use a set of benchmarking tools recently developed in the applied mathematics …
Persistent link: https://www.econbiz.de/10012480284
Since the Global Financial Crisis, rates on interest rate swaps have fallen below maturity matched U.S. Treasury rates across different maturities. Swap rates represent future uncollateralized borrowing between banks. Treasuries should be expensive and produce yields that are lower than those of...
Persistent link: https://www.econbiz.de/10012480372
A number of formerly regulated multiproduct industries have a transitional or permanent residual regulatory mandate to protect consumers from "excessive" prices. The legislation that deregulated most rail rates contains a statutory mandate for the regulator to protect shippers from "excessive"...
Persistent link: https://www.econbiz.de/10012480919
We argue that a common practice of evaluating portfolio managers relative to a benchmark has real effects. Benchmarking …
Persistent link: https://www.econbiz.de/10012480988
We propose a model of asset management in which benchmarking arises endogenously, and analyze its unintended welfare … prices. Benchmarking inflates asset prices and gives rise to crowded trades, thereby reducing the effectiveness of incentive … crowding, opts for less benchmarking and less incentive provision. We also show that asset management costs are lower with …
Persistent link: https://www.econbiz.de/10012482239
Critics of international student comparisons argue that results may be influenced by differences in the extent to which countries adequately sample their entire student populations. In this research note, we show that larger exclusion and non-response rates are related to better country average...
Persistent link: https://www.econbiz.de/10012462783