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In 2007, both the U.S. and the E.U. implemented sweeping reforms in the regulation of stock exchange trading and market structure, following diametrically opposite approaches. While the E.U. effort is deregulatory and decentralized, allowing investors' choices to determine how different...
Persistent link: https://www.econbiz.de/10012727196
We analyze a consistent two-factor model for pricing temperature derivatives that incorporates the forward looking information available in the market by specifying a model for the dynamics of the complete meteorological forecast curve. The two-factor model is a generalization of the...
Persistent link: https://www.econbiz.de/10011145246
Recently the topic of global warming has become very popular. The literature has concentrated its attention on the evidence of such eect, either by detecting regime shifts or change points in time series. The majority of these methods are designed to nd shifts in mean, but only few can do this...
Persistent link: https://www.econbiz.de/10010543378
A State Price Density (SPD) is the density function of a risk neutral equivalent martingale measure for option pricing, and is indispensible for exotic option pricing and portfolio risk management. Many approaches have been proposed in the last two decades to calibrate a SPD using financial...
Persistent link: https://www.econbiz.de/10010658762
Forecasting based pricing of Weather Derivatives (WDs) is a new approach in valuation of contingent claims on nontradable underlyings. Standard techniques are based on historical weather data. Forward-looking information such as meteorological forecasts or the implied market price of risk (MPR)...
Persistent link: https://www.econbiz.de/10010607145
high-technology exports, an area highly dominated by the electronic and electrical equipment sector. Furthermore, a … significant portion of value added embodied in China's high-technology exports comes from services and high-technology …
Persistent link: https://www.econbiz.de/10011134425
Using panel data from the Chinese Industrial Surveys of Medium-sized and Large Firms for 2000–2006, we show that the presence and the magnitude of technological spillovers from FDI in the People's Republic of China are affected by the source of FDI, by the ownership type of a firm in...
Persistent link: https://www.econbiz.de/10011141175
Persistent link: https://www.econbiz.de/10005780994
. Technology, despite being very important, is not the only factor that ensures the success of an intervention. This paper presents … and analyzing the results, we conclude that technology projects are a means to expand people's choices, but also to …
Persistent link: https://www.econbiz.de/10010607958
The effectiveness of Science and Technology Parks (STPs) as instruments of innovation policy has generated thriving … and 25 STPs from the 2009 Community Innovation Survey for Spain and a survey of STP managers respectively, we find that …
Persistent link: https://www.econbiz.de/10011260506