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optimal. When eradication is feasible, the optimal program requires either a low vaccination rate or eradication. A high … vaccination rate is never optimal. Under special conditions, the results are especially stark: the optimal policy is either not to …
Persistent link: https://www.econbiz.de/10011324931
private university allows us to estimate how peer effects influence health beliefs and vaccination choices. Our results … positive peer effects on individuals' vaccination decisions. A student becomes up to 8.3 percentage points more likely to get … inoculation clinics suggests that students coordinate their vaccination decisions with their friends. …
Persistent link: https://www.econbiz.de/10010280911
hospitalisation and fatality rates of vaccination and population immunity due to past infection: the latter was the most signiÖcant … factor driving both trends, while the vaccination rate also had a signiÖcant short run e§ect on the fatality rate. We also …
Persistent link: https://www.econbiz.de/10014480726
Contrary to static mean-variance analysis, very few papers have dealt with dynamic mean-variance analysis. Here, the mean-variance efficient self-financing portfolio strategy is derived for n risky assets in discrete and continuous time. In the discrete setting, the resulting portfolio is...
Persistent link: https://www.econbiz.de/10010305021
orhistorical and Monte Carlo simulation methods. Although these approaches to overall VaR estimation have receivedsubstantial … proposed estimation approach pairs intuitiveappeal with computational efficiency. We evaluate various alternative estimation …
Persistent link: https://www.econbiz.de/10010324653
In this paper we focus on the analysis of the effect of prediction and estimation risk on the loss distribution, risk … parameters for the estimation of probability of default or asset correlation are not available, and usually have to be estimated … using historical data. The incorporation of prediction and estimation risk generally leads to broader loss distributions and …
Persistent link: https://www.econbiz.de/10010295906
The situation of a limited availability of historical data is frequently encountered in portfolio risk estimation …, especially in credit risk estimation. This makes it, for example, difficult to find temporal structures with statistical … selected macroeconomic variables. These findings may improve the estimation of risk measures such as the (portfolio) Value at …
Persistent link: https://www.econbiz.de/10010295926
Credit risk is an important issue in many finance areas, such as the determination of cost of capital, the valuation of corporate bonds and pricing of credit derivatives. Credit risk has also been a cause and consequence of the current financial crisis. Thus, methods for measuring credit risk,...
Persistent link: https://www.econbiz.de/10010276410
This paper presents a rational expectations model of asset prices with rationally inattentive investors that, unlike previous papers, explains both the substantial amount of equity wealth invested domestically and the puzzling time series behavior of the home bias - an initial plateau before...
Persistent link: https://www.econbiz.de/10010285303
-entrance in January 2001 this paper develops a rigorous estimation procedure. The estimates provide statistical evidence of … increased central bank intervention activities in the run-up to the Greek EMU entrance. Thus the modelling and estimation …
Persistent link: https://www.econbiz.de/10010295399