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Conditional and dynamic convex risk measures

Detlefsen, Kai; Scandolo, Giacomo - 2005

We extend the definition of a convex risk measure to a conditional framework where additional information is available. We characterize these risk measures through the associated acceptance sets and prove a representation result in terms of conditional expectations. As an example we consider the...

Persistent link: https://www.econbiz.de/10010263581

Artificial time inconsistency as a remedy for the race to the bottom

Weichenrieder, Alfons J.; Busch, Oliver - 2005

A long-standing concern in the literature has been that household mobility implies a serious threat to the viability of redistributive taxation. This paper considers the effects of deferred integration of migrants into the redistributive system of the target country. In a model of symmetric...

Persistent link: https://www.econbiz.de/10010277175

Climate policy without commitment

Golombek, Rolf; Greaker, Mads; Hoel, Michael - 2010

Climate mitigation policy should be imposed over a long period, and spur development of new technologies in order to make stabilization of green house gas concentrations economically feasible. The government may announce current and future policy packages that stimulate current R&D in...

Persistent link: https://www.econbiz.de/10010285588

Fiscal Discipline and Stability under Currency Board Systems

Grimm, Oliver - 2007

In economic discussions, currency board systems are frequently described as arrangements with self-binding character to the monetary authorities by their strict rules and establishments by law. Hard pegs and especially currency boards are often seen as remedies to overcome economic and financial...

Persistent link: https://www.econbiz.de/10011753130

An Empirical Investigation of Biased Survey Data and an Attempted Cure

Prieger, James E. - 2004

In this paper I investigate response bias in survey data on annual driving mileage and evaluate the performance of a … designed to correct for reporting bias, to allow misreporting at the lower censoring point. Orbit fails to detect the nature of … the bias and distorts the income elasticity estimate even further. The message for practitioners using biased data is …

Persistent link: https://www.econbiz.de/10010263241

From animal baits to investors' preference: estimating and demixing of the weight function in semiparametric models for biased samples

Ritov, Ya'acov; Härdle, Wolfgang Karl - 2007

We consider two semiparametric models for the weight function in a bias sample model. The object of our interest …

Persistent link: https://www.econbiz.de/10010274127

Bias-free nonparametric estimation of intra-day trade activity measures

Grammig, Joachim; Hujer, Reinhard; Kokot, Stefan - 2000

Persistent link: https://www.econbiz.de/10010316265

Estimating derivatives in nonseparable models with limited dependent variables

Altonji, Joseph; Ichimura, Hidehiko; Otsu, Taisuke - 2008

censored population. We then correct the derivative for the effects of the selection bias. We propose nonparametric and …

Persistent link: https://www.econbiz.de/10010288449

Nonparametric adaptive estimation of linear functionals for low frequency observed Lévy processes

Kappus, Johanna - 2012

For a Lévy process X having finite variation on compact sets and finite first moments, u (dx) = xv (dx) is a finite signed measure which completely describes the jump dynamics. We construct kernel estimators for linear functionals of u and provide rates of convergence under regularity...

Persistent link: https://www.econbiz.de/10010281557

School quality, educational attainment and aggregation bias

Fertig, Michael; Wright, Robert E. - 2004

Data from 31 countries participating in the Programme for International Student Assessment (PISA) is used to estimate education production functions for reading literacy. The analysis suggests that the probability of finding statistically significant and correctly signed class size effects...

Persistent link: https://www.econbiz.de/10010261766

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