countries. For EU countries, at the 1-year frequency, 13 % of shocks to GDP are smoothed via government consumption, 18 percent …

and capital levels at hospitals, using optimal control under the assumption that private payers charge higher prices if … explosive growth, and that prices and capital stock grow in proportion to one another.In the second chapter, we study the flow …

The purpose of this work is to empirically assess the validity of the Capital Asset Pricing Model (CAPM) in terms of …

In some key respects the income versus consumption tax choice is simply misunderstood by many people, including …

Equity costs of capital for individual firms are estimated using several models that relate expected returns to betas … of equity close to that obtained with mispricing ruled out. Uncertainty about which pricing model to use appears to be …

Costs of equity for individual firms are estimated in a Bayesian analysis framework using several factor-based pricing … mispricing precluded, even for a stock whoses average return departs significantly from the pricing model's prediction …. Uncertainty about which pricing model to use is less important, on average, than within-model parameter uncertainty. …

elements of credit risk management and important to prudential oversight. As illustrated in this paper, valuation feeds into …