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On dynamic Knightian uncertainty models : time-consistency and optimal behavior
Bier, Monika - 2009
Diese Arbeit beschäftigt sich mit drei verschiedenen Fragestellungen bezüglich Zeitkonsistenz unter der Annahme von …
Persistent link: https://www.econbiz.de/10009452489
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An institution theory approach to the relationship between organization and society
Gebhardt, Christian - 2011
results of an extensive ethnographic field study of the 2006 to 2008 Siemens corruption scandal. We find that this event did … corporate corruption with regard to its regulative, normative, and cultural-cognitive dimensions. It is therefore particularly … perspective we reconstruct the development of the institutional context of the phenomenon corruption as well as its effects on the …
Persistent link: https://www.econbiz.de/10009447139
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The Political Determinants of the Depth of Banking Crises
Winkler, Nicolas - 2006
Seit dem Ende der Bretton-Woods Ära haben zahlreiche Bankenkrisen Volkswirtschaften immense Kosten auferlegt. Die vorliegende Studie beschäftigt sich mit den politökonomischen Einflussfaktoren auf die Tiefe dieser Bankenkrisen. Es wird argumentiert, dass nur schnelle und tiefgreifende...
Persistent link: https://www.econbiz.de/10009471832
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Corruption and Central Banks
Schinke, Michael - 2005
welfare through their decisions. Yet, cases of central bank corruption abound. The dissertation provides examples of ?pure …? corruption in central banks. Only a few studies address corruption and similar, but not necessarily criminal, behavior of central … bank employees and governors, even though corruption in the central bank is obviously possible. By the very nature of their …
Persistent link: https://www.econbiz.de/10009484798
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Three Essays on Anti-Corruption Legislation and Reform
Nell, Mathias - 2007
in and that put their clout for the fight against corruption in question. Against this background, three novel anti-corruption …. What is more, legislation can also take advantage of these chinks to fight corruption effectively.In Section II it is … United Nations Convention against Corruption (UNCAC) are used as benchmarks. In addition, the respective legal provisions …
Persistent link: https://www.econbiz.de/10009484807
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TRADE POLICY AND TIME CONSISTENCY IN AN OLIGOPSONISTIC WORLD MARKET
Gervais, Jean-Philippe; Lapan, Harvey E. - 1998
This paper investigates the strategic behavior between countries that have purchasing power on the world market for a certain good. Tariffs and quotas are not equivalent protection instruments in this oligopsonistic market. Policy active importers would be better off by colluding and setting...
Persistent link: https://www.econbiz.de/10009443115
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Essays in International Macroeconomics
Liu, Xuan - 2007
This dissertation consists of two essays in international macroeconomics. Thefirst essay shows that optimal fiscal and monetary policy is time consistent in astandard small open economy. Further, there exist many maturity structuresof public debt capable of rendering the optimal policy time...
Persistent link: https://www.econbiz.de/10009475504
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Estimation of Expected Returns, Time Consistency of A Stock Return Model, and Their Application to Portfolio Selection
Ma, Huaqiang - 2010
Longer horizon returns are modeled by two approaches, which have different impact on skewness and excess kurtosis. The Levy approach, which considers the random variable at longer horizon as the cumulants of i.i.d random variables from shorter horizons, tends to decrease skewness and excess...
Persistent link: https://www.econbiz.de/10009450698
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Merging of opinions under uncertainty
Bier, Monika; Engelage, Daniel - 2010
We consider long-run behavior of agents assessing risk in terms of dynamic convex risk measures or, equivalently, utility in terms of dynamic variational preferences in an uncertain setting. By virtue of a robust representation, we show that all uncertainty is revealed in the limit and agents...
Persistent link: https://www.econbiz.de/10009452571
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Characterization of time-consistent sets of measures in finite trees
Bier, Monika - 2010
In this paper we give an alternative characterization for time-consistent sets of measures in a discrete setting. For each measure \mathbb{P} in a time-consistent set \mathcal{P} we get a distinct set of predictable processes which in return decribe the \mathbb{P} uniquely. This implies we get a...
Persistent link: https://www.econbiz.de/10009452573