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Persistent link: https://www.econbiz.de/10006318738
The record number of fifty-point daily moves in the Dow Jones Industrial Average in 1996--forty-five in the first three quarters alone--has attracted considerable media attention. An analysis traces this phenomenon to two basic causes: the record level of the Dow and the return of price...
Persistent link: https://www.econbiz.de/10005512165
This paper develops a model of macroeconomic forecasting in which a forecaster's wage is a function of his accuracy as well as the publicity he generates for his firm by being correct. In the resulting Nash equilibrium, forecasters with identical models, information, and incentives nevertheless...
Persistent link: https://www.econbiz.de/10005512210
This paper develops a model of macroeconomic forecasting in which the wages firms pay their forecasters are a function of their accuracy as well as the publicity they generate for their employers by being correct. In the resulting Nash equilibrium, forecasters with identical models, information,...
Persistent link: https://www.econbiz.de/10005726599
Diese sigma-Ausgabe untersucht die Todesfalldeckung, das Kernprodukt der Lebensversicherung. Neben einer Analyse der Marktentwicklung in sechs Ländern wird die Deckungslücke im Todesfall geschätzt. Dabei handelt es sich um die Differenz zwischen den zur Aufrechterhaltung des Lebensstandards...
Persistent link: https://www.econbiz.de/10005846490
Dieser Bericht analysiert den Markt des Third-Party-Asset-Mangements, also der externen Vermögensverwaltung, für Versicherer. Am Jahresende 2001 verfügten die Versicherer weltweit über Vermögen in Höhe von 11,5 Billionen USD. 82% dieser Summe entfielen auf die Lebensversicherer....
Persistent link: https://www.econbiz.de/10005846584
Insurers, banks and other financial intermediaries are changing in response to a variety of social and economic forces. Financial deregulation has made it easier for intermediaries to cross industry and national boundaries. Technological progress has reduced costs while stimulating innovation....
Persistent link: https://www.econbiz.de/10005846588
The electronic purse, a new payments instrument offering advantages to both consumers and merchants, may soon replace currency in many routine transactions. Widespread use of the electronic purse could, however, raise concerns about consumer protection and the safety and soundness of the instrument.
Persistent link: https://www.econbiz.de/10005512144
The relationship between corporate reputation and investment results is the subject of ongoing debate. Some argue that high-quality firms ultimately provide superior stock price performance; others counter that stock prices already reflect these firms' prospects for growth and profitability. This...
Persistent link: https://www.econbiz.de/10005512164
Do professional forecasters provide their true unbiased estimates, or do they behave strategically? In our model, forecasters have common information, confer actively, and thus know the true pdf of future outcomes. Intensive users of economic forecasts monitor forecasters' performance closely;...
Persistent link: https://www.econbiz.de/10005557025