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Liberalization of the Postal Service Market in Europe: Entry with Universal Service and Partial Coverage

Beschorner, Patrick Frank Ernst - 2008

In the advent of postal market liberalization in several European countries we expect that the incumbent operators …

Persistent link: https://www.econbiz.de/10010298704

Agent-based financial markets and New Keynesian macroeconomics: A synthesis

Lengnick, Matthias; Wohltmann, Hans-Werner - 2010

used to reduce volatility and distortion of the macroeconomic aggregates. …

Persistent link: https://www.econbiz.de/10010302700

News reaction in financial markets within a behavioral finance model with heterogeneous agents

Fischer, Thomas - 2011

This paper presents a Heterogeneous Agent Model of a financial market with chartist and fundamentalist traders that exhibit bounded rationality and short-term thinking to explain the effect of under and overreaction to news. The existence of the Market Maker's finite price adjustment speed leads...

Persistent link: https://www.econbiz.de/10010323743

The environmental and macroeconomic effects of socially responsible investment

Dam, Lammertjan; Heijdra, Ben J. - 2008

We analyze the effects of socially responsible investment and public abatement on environmental quality and the economy in a continuous-time dynamic growth model featuring optimizing households and firms. Environmental quality is modelled as a renewable resource. Consumers can invest in...

Persistent link: https://www.econbiz.de/10010264399

The Finance-Growth Nexus Revisited. New Evidence from OECD Countries

Hahn, Franz R. - 2002

Persistent link: https://www.econbiz.de/10011435102

Financial Development and Output Growth Fluctuation. Evidence from OECD Countries

Hahn, Franz R. - 2002

Persistent link: https://www.econbiz.de/10011435110

Financial Development and Macroeconomic Volatility. Evidence from OECD Countries

Hahn, Franz R. - 2003

This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways … development exerts an unambiguous effect on macroeconomic volatility. Building on theoretical work related to two different … market volatility is controlled for. …

Persistent link: https://www.econbiz.de/10011435122

Private equity's unintended dark side: On the economic consequences of excessive delistings

Ljungsqvist, Alexander; Persson, Lars; Tåg, Joacim - 2016

Over the past two decades, private equity has contributed to a shrinking of the U.S. stock market. We develop a political economy model of private equity activity to study the wider economic consequences of this trend. We show that private and social incentives to delist firms from the stock...

Persistent link: https://www.econbiz.de/10011794581

A diffusion approximation for the riskless profit under selling of discrete time call options: Non-identically distributed jumps

Nagaev, Alexander V.; Nagaev, Sergei A.; Kunst, Robert M. - 2005

A discrete time model of financial markets is considered. It is assumed that the relative jumps of the risky security price are independent non-identically distributed random variables. In the focus of attention is the expected non-risky profit of the investor that arises when the jumps of the...

Persistent link: https://www.econbiz.de/10010293743

The Markov-switching multi-fractal model of asset returns: GMM estimation and linear forecasting of volatility

Lux, Thomas - 2004

Bayesian forecasting of volatility. However, applicability of MLE is restricted to cases with a discrete distribution of … volatility components. From a practical point of view, ML also becomes computationally unfeasible for large numbers of components … forecasts which in principle is applicable for any continuous distribution with any number of volatility components. Monte Carlo …

Persistent link: https://www.econbiz.de/10010295106