KIDS COUNT is a national and state-by-state effort to track the status of children in the U.S. Ten key measures comprise an index of child well-being used to rank states and supplemental data on education, health, and economic conditions for each state. Data from the 2003 KIDS COUNT Data Book...

We modify the concept of consistent expectations equilibria introduced in Hommes and Sorger (1998) in two ways: (i) the consistency condition requires that the probability that the agents reject their perceived law of motion in any period does not exceed a given level and (ii) there may exist...

This paper suggests spatial models as an alternative to the Armington approach to model bilateral trade. While the use of spatial models has been accepted for decades, they are rarely chosen for such analyses. However, problems inherent in the application of the Armington approach can be...

The effect of monetary policy on financial risk premia is analysed in a simple general equilibrium model with sticky wages and an optimising central bank. Analytical results show that equity risk premia and term premia are higher under inflation targeting than under output targeting, and that...

We develop a continuous time general equilibrium model for the term structure of interest rates where economic agents are averse to model uncertainty and consider the possibility of a misspecified dynamic model for the latent risk factors driving interest rates. Aversion to model uncertainty is...

We present a multivariate, non-parametric technique for constructing reliable daily VaR predictions for individual assets belonging to a common equity market segment, which takes also into account the possible dependence structure between the assets and is still computationally feasible in large...

Konzeptionell bedingt sind für eine erfolgreiche Steuerpolitik beim Formula Apportionment –im Gegensatz zum Separate Accounting – realwirtschaftliche Anpassungen der MNU erforderlich.Doch genau bei der Untersuchung jener realwirtschaftlichen Anpassungen stößt der partial-analytische...