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The CRIX (CRyptocurrency IndeX) has been constructed based on approximately 30 cryptos and captures high coverage of available market capitalisation. The CRIX index family covers a range of cryptos based on different liquidity rules and various model selection criteria. Details of ECRIX (Exact...
Persistent link: https://www.econbiz.de/10012984177
Due to globalization competitive firms face increasing economic opportunities for locating their activities in countries, regions and cities that provide the best business environment for their specific needs. In our study we focus on the impact of economic risk and risk preferences upon...
Persistent link: https://www.econbiz.de/10010308305
Die vorliegende Arbeit untersucht ein Duopol bei unsicherer Nachfrage unter Risikoaversion. Die Produktion der gesamten Industrie fällt durch die Einführung von Nachfrageunsicherheit; der Marktpreis steigt wegen des schwächeren Wettbewerbs. Damit ist die Veränderung des Gewinns und des...
Persistent link: https://www.econbiz.de/10010309621
We develop inference tools in a semiparametric partially linear regression model with missing response data. A class of estimators is defined that includes as special cases: a semiparametric regression imputation estimator, a marginal average estimator and a (marginal) propensity score weighted...
Persistent link: https://www.econbiz.de/10010318520
The purpose of this paper is to assess under what conditions exchange rate volatility exerts a positive effect on a firm's labour demand. As the exchange rate volatility increases, so does the value of the export option provided the firm under study is flexible. Flexibility is important because...
Persistent link: https://www.econbiz.de/10010296377
Most dimension reduction methods based on nonparametric smoothing are highly sensitive to outliers and to data coming from heavy tailed distributions. We show that the recently proposed MAVE and OPG methods by Xia et al. (2002) allow us to make them robust in a relatively straightforward way...
Persistent link: https://www.econbiz.de/10010296438
In this paper we study the impact of more transparency in the interbank market on the volume of bank intermediated loans and on the profitability of the banking business. Transparency is modeled by means of the informational content of publicly observable signals correlated to the random...
Persistent link: https://www.econbiz.de/10010296785
The competitive allocation of labor across different sectors of an economy may not be socially optimal when one sector uses foreign capital. We argue that a suitably designed government intervention is required to restrict the sectors to their optimal size and maximize national welfare. Such a...
Persistent link: https://www.econbiz.de/10010296787
International and national investors are often exposed to real wealth risks, stemming from volatile asset prices and inflation uncertainty, making it difficult to stabilize consumption patterns. However, investors can enter futures markets to hedge against these risks. The paper develops a...
Persistent link: https://www.econbiz.de/10010296789
Bei Unsicherheit über die zukünftige Entwicklung des Wechselkurses sind international tätige Unternehmen nicht indifferent in Bezug auf die Wahl der Währung ihrer Preissetzung. Denn die bei der Fakturierung festgelegte Währung kann die Ertragssituation des Unternehmens erheblich...
Persistent link: https://www.econbiz.de/10010296802