Narrow search
Showing 1 - 10 of 405
Cover Image
Saving, income risk and interest rate wedge : a note
Koskela, Erkki - 1988
Persistent link: https://www.econbiz.de/10000758825
Cover Image
On the tree-cutting problem under interest rate and forest value uncertainty
Alvarez, Luis H. R.; Koskela, Erkki - 2003
Persistent link: https://www.econbiz.de/10011505937
Cover Image
Does risk aversion accelerate optimal forest rotation under uncertainty?
Alvarez, Luis H. R.; Koskela, Erkki - 2004
period, when forest value is also stochastic following geometric Brownian motion and landowners are risk-averse. We provide … volatility increases, while higher risk aversion decreases the optimal harvesting threshold. Moreover, under risk aversion … increased forest value volatility decreases the optimal harvesting threshold, while it has no effect under risk neutrality …
Persistent link: https://www.econbiz.de/10011450936
Cover Image
A general approach to the stochastic rotation problem with amenity valuation
Alvarez, Luis H. R.; Koskela, Erkki - 2003
This paper presents a new approach to study the optimal rotation policy with amenity valuation under uncertainty. We first postulate the stochastic forest value and assume plausibly that monetary value of amenities is a continuous and non-negative function of forest value thus presenting the...
Persistent link: https://www.econbiz.de/10011514169
Cover Image
Irreversible investment under interest rate variability : new results
Alvarez, Luis H. R.; Koskela, Erkki - 2002
The current extensive literature on irreversible investment decisions makes the assumption of constant interest rate. In this paper we study the impact of interest rate and revenue variability on the decision to carry out an irreversible investment project. Given the generality of the considered...
Persistent link: https://www.econbiz.de/10011408807
Cover Image
A General Approach to the Stochastic Rotation Problem with Amenity Valuation
Alvarez, Luis Hernan Radomiro; Koskela, Erkki - 2021
This paper presents a new approach to study the optimal rotation policy with amenity valuation under uncertainty. We first postulate the stochastic forest value and assume plausibly that monetary value of amenities is a continuous and non-negative function of forest value thus presenting the...
Persistent link: https://www.econbiz.de/10013320081
Cover Image
Irreversible Investment Under Interest Rate Variability : New Results
Alvarez, Luis Hernan Radomiro; Koskela, Erkki - 2021
The current extensive literature on irreversible investment decisions makes the assumption of a constant interest rate. In this paper we study the impact of interest rate and revenue variability on the decision to carry out an irreversible investment project. Given the generality of the...
Persistent link: https://www.econbiz.de/10013320672
Cover Image
Is there a Laffer curve between government size and private output : some evidence from a market price approach
Koskela, Erkki; Virén, Matti E. E. - 1992
Persistent link: https://www.econbiz.de/10000857297
Cover Image
Does risk aversion accelerate optimal forest rotation under uncertainty?
Alvarez, Luis H. R.; Koskela, Erkki - 2004
period, when forest value is also stochastic following geometric Brownian motion and landowners are risk-averse. We provide … volatility increases, while higher risk aversion decreases the optimal harvesting threshold. Moreover, under risk aversion … increased forest value volatility decreases the optimal harvesting threshold, while it has no effect under risk neutrality …
Persistent link: https://www.econbiz.de/10010261267
Cover Image
On forest rotation undet interest rate variability
Alvarez, Luis H.R.; Koskela, Erkki - 2003
The current literature on optimal forest rotation makes the unrealistic assumption of constant interest rate though harvesting decisions of forest stands are typically subject to relatively long time horizons. We apply the single rotation framework to extend the existing studies to cover the...
Persistent link: https://www.econbiz.de/10010285146