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Four Essays on Debt Securitization and Entrepreneurial Finance
Weber, Thomas - 2008
Chapter 1 is joint work with Günter Franke, University of Konstanz, and Markus Herrmann, HSBC London, and addresses the question how collateralized debt obligation (CDO-) transactions are designed. An important issue is the information asymmetry about the quality of securitized debt between...
Persistent link: https://www.econbiz.de/10009471846
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Essays in Behavioral and Experimental Economics
Dürsch, Peter - 2010
Kooperation in einem einmaligen Spiel. Darüber hinaus finden wir keinen Hinweis darauf, dass Risikoaversion ein Faktor ist …
Persistent link: https://www.econbiz.de/10009476200
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Imperfect competition in product markets and labor markets, general equilibrium and unemployment
Schniewind, Achim - 2000
In this thesis it is analyzed if promoting product market competition can help to to fight unemployment in Europe. We have used a general equilibrium model in order to study how reducing mark-ups and increasing productivity in one sector affect aggregate unemployment for an exogenously given...
Persistent link: https://www.econbiz.de/10009476214
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Government Guarantees and Self-Fulfilling Speculative Attacks
Burnside, Craig; Eichenbaum, Martin; Rebelo, Sergio - 2004
This paper explores the role played by government guarantees to banks’ foreigncreditors as a root cause of self-fulfilling twin banking-currency crises. We developa general equilibrium model in which such guarantees lead to these types of crises.Absent government guarantees, such crises are...
Persistent link: https://www.econbiz.de/10009475583
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Production under uncertainty and choice under uncertainty in the emergence of generalized expected utility theory
Quiggin, J - 2001
analysis of production under uncertainty. Interest in the foundations of the theory of choice under uncertainty was stimulated … by applications of expected utility theory such as the Sandmo model of production under uncertainty. This interest led to … the development of generalized models including rank-dependent expected utility theory. In turn, the development of …
Persistent link: https://www.econbiz.de/10009447884
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Trade reform, policy uncertainty, and the current account: a non expected-utility approach
Wijnbergen, S.J.G. van - 1992
Rapid and comprehensive reduction in barriers to international trade has often been followed by a sharp deterioration in the current account. The macroeconomic counterpart of the deterioration has typically been a decline in private savings; no clear response pattern has been observed for...
Persistent link: https://www.econbiz.de/10009460021
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Theoretical aspects of long-term evaluation in environmental economics
Traeger, Christian - 2006
economics, decision theory, the economics of sustainability and cost benefit analysis. The thesis is structured in three parts … Konsum. Im zweiten Teil der Arbeit wird ein verallgemeinertes Bewertungsmodell sowie ein neues Konzept der Risikoaversion … eingeführt. Dieses Konzept der intertemporalen Risikoaversion greift einen wichtigen Aspekt des Vorsichtsprinzips auf. Der dritte …
Persistent link: https://www.econbiz.de/10009476176
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The Role of Exchange Rates in the Intertemporal Risk-Return Relation in International Economies
Bali, Turan G.; Wu, Liuren - 2005
This paper investigates the role of currency denomination in the the intertemporal risk-return relation among G7 countries. Similar to the findings of previous studies, our estimation also shows that the financial markets of the G7 countries are integrated. We obtain significant pricing...
Persistent link: https://www.econbiz.de/10009440704
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The Aggregate Dynamics of Capital Structure and Macroeconomic Risk
Bhamra, Harjoat S.; Kuehn, Lars-Alexander; Strebulaev, … - 2008
We study the impact of time-varying macroeconomic conditions on optimal dynamic capital structure and the aggregate dynamics of firms in a cross-section. Our structural-equilibrium framework embeds a contingent-claim corporate financing model within a standard consumption-based asset- pricing...
Persistent link: https://www.econbiz.de/10009441273
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Modeling farmer participation to a revenue insurance scheme by means of Positive Mathematical Programming
Severini, Simone; Cortignani, Raffaele - 2011
European farmers face increasing income uncertainty and the debate is growing on the role of insurance schemes and of public support in this field. This debate is further stimulated by the perspective of introducing instruments to cope with risk also in the Common Agricultural Policy. Therefore,...
Persistent link: https://www.econbiz.de/10009442282