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El objetivo de este documento es recopilar algunos resultados clásicos sobre existencia y unicidad de soluciones de ecuaciones diferenciales estocásticas (EDEs) con condición final (en inglés Backward stochastic differential equations) con particular énfasis en el caso de coeficientes...
Persistent link: https://www.econbiz.de/10010945816
We provide a mathematical definition of fragility and antifragility as negative or positive sensitivity to a semi-measure of dispersion and volatility (a variant of negative or positive "vega") and examine the link to nonlinear effects. We integrate model error (and biases) into the fragile or...
Persistent link: https://www.econbiz.de/10011123704
The paper presents a general empirical method of distance-based multifaceted systematic identifying of the positions of countries in relation to inequalities and imbalances. In order to understand the world economic relations in their entirety, we decided to analyze twelve most populous...
Persistent link: https://www.econbiz.de/10011113615
The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...
Persistent link: https://www.econbiz.de/10011259562
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey … models of forecasting inflation, the data are low frequency measures which appear anachronistic in the modern era of high … frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many …
Persistent link: https://www.econbiz.de/10009647457
Research by Ghali (1999) tested for the existence of causality between wages and prices in United States' aggregate data using a multivariate cointegration framework. We show that Ghali's model is misspecified and that the correct specification leads to a different interpretation of the long-run...
Persistent link: https://www.econbiz.de/10005574863
Dans ce papier, nous comparons quatre indicateurs de l'inflation sous-jacente: l'approche par exclusion de postes, les … estimateurs "a influence limitee" comme l'inflation mediane, les mesures issues d'un VAR structurel et une mesure tiree d …
Persistent link: https://www.econbiz.de/10005646653
Applying the concept of underlying inflation can be thought of as an attempt to capture the general trend in inflation … more accurately than with readily available data on headline inflation. In this paper a number of approaches to the … analysis of underlying inflation are examined from a unifying standpoint, stressing their complementary nature, and empirical …
Persistent link: https://www.econbiz.de/10005474558
restructuring and defaults; in the United Kingdom inflation has dominated, eroding the value of debt; and in Ireland and Spain the … only in the intensity of debt reduction but also in the distribution between agents and productive sectors, and in the form … international environments. In the United States the drivers reducing debt are the improvement in activity and household debt …
Persistent link: https://www.econbiz.de/10010862297
inflation rate much higher than that of the reference industrial countries; has accumulated a debilitating public debt; and has …
Persistent link: https://www.econbiz.de/10010878438