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The Subprime Crisis: An Analysis of New England in 2006
Holt, Matthew - 2008
This paper examines the potential causes of the subprime loan crisis and discusses its impact in the United States. The root causes of the crisis include unethical practices by brokers and lenders, a lack of corrective action by credit rating agencies, lax regulation by the Federal Government of...
Persistent link: https://www.econbiz.de/10009450212
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Canonical valuation of options in the presence of stochastic volatility
Gray, P.; Newman, S. - 2005
Proposed by M. Stutzer (1996), canonical valuation is a new method for valuing derivative securities under the risk-neutral framework. It is non-parametric, simple to apply, and, unlike many alternative approaches, does not require any option data. Although canonical valuation has great...
Persistent link: https://www.econbiz.de/10009447945
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Bayesian Generalized Product Partition Model
Dunson, David - 2010
Starting with a carefully formulated Dirichlet process (DP) mixture model, we derive a generalized product partition model (GPPM) in which the partition process is predictor-dependent. The GPPM generalizes DP clustering to relax the exchangeability assumption through the incorporation of...
Persistent link: https://www.econbiz.de/10009475421
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Improved algorithms for rare event simulation with heavy tails
Asmussen, Søren; Kroese, Dirk P. - 2006
The estimation of P(S-n u) by simulation, where S, is the sum of independent. identically distributed random varibles Y-1,..., Y-n, is of importance in many applications. We propose two simulation estimators based upon the identity P(S-n u) = nP(S, u, M-n = Y-n), where M-n = max(Y-1,...,...
Persistent link: https://www.econbiz.de/10009448797
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Health, endogenous time preference, and inequality : a political economy perspective
Lahiri, Radhika; Richardson, Elizabeth - 2009
. Consequently, higher substitutability is associated with greater polarization in wealth, and long-run distributions that are …
Persistent link: https://www.econbiz.de/10009438171
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A COMPARATIVE ANALISYSIS OF THE REAL CONVERGENCE AND NOMINAL CONVERGENCE INDICATORS OF ROMANIA TO THE EUROZONE
Valentin, Adomnicai Ioan - 2018
hardly recover from the financial crisis which started in 2008, the European Union existing a clear tendency of polarization …
Persistent link: https://www.econbiz.de/10011788812
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Polarization contaminates the link with partisan and independent institutions: evidence from 138 cabinet shifts
Guirola Abenza, Luis M.; Rivero, Gonzalo
Increasing political polarization implies that each election expands the gap between the supporters of the losing side … substantially across contexts. The polarization of parties explains most of this variance, suggesting that, in a polarized … democratic backsliding. ; Increasing political polarization implies that each election expands the gap between the supporters of …
Persistent link: https://www.econbiz.de/10013450835
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Does political polarization affect economic expectations?: Evidence from three decades of cabinet shifts in Europe
Guirola Abenza, Luis M.
. ; Polarization can have economic effects if the hostility between political camps (i.e., affective polarization) shapes economic …
Persistent link: https://www.econbiz.de/10014442858
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On inequality tax evasion and progressive taxes
Lahiri, Radhika; Phoon, Mark - 2010
This paper proposes a simple variation of the Allingham and Sandmo (1972) construct and integrates it to a dynamic general equilibrium framework with heterogeneous agents. We study an overlapping generations framework i n which agents must initially decide whether to evade taxes or not. In the...
Persistent link: https://www.econbiz.de/10009438089
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Economic growth, inequality and technology adoption in transitional economies
Ratnasiri, Nawaratne Gedara Shyama Chandani - 2009
countries during the process of economic development, and the divergence over time in income distributions both within and … complete adoption of more productive technologies. The issue of increasing income inequality in the process of technology … adoption opens up another direction for research. Specifically increasing inequality implies that distributive conflicts may …
Persistent link: https://www.econbiz.de/10009438393