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Interpreting implied risk-neutral densities

Hördahl, Peter; Vestin, David - 2003

This paper examine differences between risk-neutral and objective probability densities of future interest rates. The identification and quantification of these differences are important when risk-neutral densities (RNDs), such as option-implied RNDs, are used as indicators of actual beliefs of...

Persistent link: https://www.econbiz.de/10009635905

Key education indicators on social inclusion and efficiency - Final Project report

European Research Associates - 2006

Persistent link: https://www.econbiz.de/10009640380

Resource efficiency in Europe

Kaźmierczyk, Paweł; Stenbæk Hansen, Mikkel; … - Europäische Umweltagentur; European Environment Agency - 2011

This report provides an overview of resource efficiency policies and instruments in 31 member and cooperating countries … collect, analyse and disseminate information about national experiences in developing and implementing resource efficiency … efficiency and explores similarities and differences in policies, strategies, indicators and targets, policy drivers and …

Persistent link: https://www.econbiz.de/10009676174

The Future of European Long-Distance Transport - Scenario Report (IP/A/STOA/FWC-2005-28/SC27)

Schippl, Jens; Leisner, Ida; Kaspersen, Per - 2008

How could European long-distance transport - under different conditions and in different contexts - meet the following targets in 2047: • Reducing oil consumption by 80% • Reducing CO2 emissions by 60% • High level of accessibility – to offer an efficient, effective transportation system...

Persistent link: https://www.econbiz.de/10011863877

Information acquisition and decision making in committees

Gerling, Kerstin; Grüner, Hans Peter; Kiel, Alexandra; … - 2003

This is a survey on the recent game theoretic literature on committee decision making. We consider theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication in committees. Moreover, we review recent experimental...

Persistent link: https://www.econbiz.de/10009635876

Government deficits, wealth effects and the price level in an optimizing model

Annicchiarico, Barbara - 2003

This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...

Persistent link: https://www.econbiz.de/10009635879

Implementing optimal control in cointegrated I(1) structural VAR models

Monti, Francesca V. - 2003

This paper examines the feasibility of implementing Linear Quadratic Gaussian (LQG) Control in structural cointegrated VAR models and sheds some light on the two major problems generated by such implementation. The first aspect to be taken into account is the effect of the presence of unit roots...

Persistent link: https://www.econbiz.de/10009635883

Monetary and fiscal interactions in open economies

Lombardo, Giovanni; Sutherland, Alan - 2003

A two-country sticky-price model is used to analyse the interactions between fiscal and monetary policy. The role of an u0091activistu0092 fiscal policy as a stabilisation tool is considered and a measure of the welfare gains from international fiscal policy cooperation is derived. It is found...

Persistent link: https://www.econbiz.de/10009635884

Inflation persistence and robust monetary policy design

Coenen, Günter - 2003

This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inﬂation process. The paper focuses on the euro area and utilises two variants of...

Persistent link: https://www.econbiz.de/10009635885

Inflation, factor substitution and growth

Klump, Rainer - 2003

already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining …

Persistent link: https://www.econbiz.de/10009635886