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Welfare Effects of Distortionary Tax Incentives under Preference Heterogeneity: An Application to Employer-provided Electric Cars
Dimitropoulos, Alexandros; Ommeren, Jos N. van; Koster, Paul - Tinbergen Instituut - 2014
This paper presents an approach for the estimation of welfare effects of tax policy changes under heterogeneity in consumer preferences. The approach is applied to evaluate the welfare effects of current tax advantages for electric vehicles supplied as fringe benefits by employers. Drawing on...
Persistent link: https://www.econbiz.de/10011261920
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Business and Default Cycles for Credit Risk
Koopman, Siem Jan; Lucas, André - Tinbergen Instituut - 2003
-up that they do, or at least that defaults and credit spreads tend to co-move with macro-economic variables. If true, this is …
Persistent link: https://www.econbiz.de/10011255530
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Modeling Portfolio Defaults using Hidden Markov Models with Covariates
Banachewicz, Konrad; Vaart, Aad van der; Lucas, André - Tinbergen Instituut - 2006
We extend the Hidden Markov Model for defaults of Crowder, Davis, and Giampieri (2005) to include covariates. The …
Persistent link: https://www.econbiz.de/10011255628
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Quantile Forecasting for Credit Risk Management using possibly Mis-specified Hidden Markov Models
Banachewicz, Konrad; Lucas, André - Tinbergen Instituut - 2007
Recent models for credit risk management make use of Hidden Markov Models (HMMs). The HMMs are used to forecast quantiles of corporate default rates. Little research has been done on the quality of such forecasts if the underlying HMM is potentially mis-specified. In this paper, we focus on...
Persistent link: https://www.econbiz.de/10011255911
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Modeling Portfolio Defaults using Hidden Markov Models with Covariates
Banachewicz, Konrad; Vaart, Aad van der; Lucas, André - Tinbergen Institute - 2006
We extend the Hidden Markov Model for defaults of Crowder, Davis, and Giampieri (2005) to include covariates. The …
Persistent link: https://www.econbiz.de/10005136908
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Quantile Forecasting for Credit Risk Management using possibly Mis-specified Hidden Markov Models
Banachewicz, Konrad; Lucas, André - Tinbergen Institute - 2007
Recent models for credit risk management make use of Hidden Markov Models (HMMs). The HMMs are used to forecast quantiles of corporate default rates. Little research has been done on the quality of such forecasts if the underlying HMM is potentially mis-specified. In this paper, we focus on...
Persistent link: https://www.econbiz.de/10005136969
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Business and Default Cycles for Credit Risk
Koopman, Siem Jan; Lucas, André - Tinbergen Institute - 2003
do, or at least that defaults and credit spreads tend to co-move with macro-economic variables. If true, this is …
Persistent link: https://www.econbiz.de/10005137144
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Sukuk Defaults: On Distress Resolution in Islamic Finance
Wijnbergen, Sweder van; Zaheer, Sajjad - Tinbergen Instituut - 2013
agreement). Yet defaults did happen, even in the case of musharakah (joint venture) sukuk discussed in this study. So is Islamic … finance failing to deliver on its promises? To answer that question, we analyse four major defaults on Sukuk that have …
Persistent link: https://www.econbiz.de/10011256906
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Who can predict their own Demise? Accuracy of Longevity Expectations by Education and Cognition
d'Uva, Teresa Bago; Ciftci, Esen Erdogan; O'Donnell, Owen; … - Tinbergen Instituut - 2015
Biased longevity expectations will lead to suboptimal decisions regarding saving, retirement, annuitization and health, with consequences for wellbeing in old age. Systematic differences in the accuracy of longevity expectations may partly explain heterogeneity in economic behaviour by education...
Persistent link: https://www.econbiz.de/10011275101
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Generational Accounting, Solidarity and Pension Losses
Teulings, Coen N.; Vries, Casper G. de - Tinbergen Instituut - 2003
The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...
Persistent link: https://www.econbiz.de/10011255727