Showing 1 - 4 of 4
This paper study the intertemporal consumption and investment problem in a continuous time setting when the secutity prices follow a Geometric Levy Process. Using stochastic calculus for semimartingals we obtain sufficient conditions for the existence of optimal consump- tion and investment...
Persistent link: https://www.econbiz.de/10005328604
This paper develops a general equilibrium model acknowledging that greater capital utilization requires either longer hours or unsocial schedules. Contrary to the popular depreciation-in-use models, capital utilization does not only concern the firms' organisational choices but also labor supply...
Persistent link: https://www.econbiz.de/10005129672
In this paper we are interested in inference based on heteroskedasticity consistent covariance matrix estimators, for which the appropriate bootstrap is a version of the wild bootstrap. Simulation results, obtained by a new very efficient method, show that all wild bootstrap tests exhibit...
Persistent link: https://www.econbiz.de/10005129724
We consider a homogenous good oligoply with identical consumers who learn about prices either by (sequentially) visiting firms or by consulting a price agency who sells information about which firm charges the lowest price. In the sequential equilibrium with maximal trade and minimal search,...
Persistent link: https://www.econbiz.de/10005129748