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Many networks such as the Internet have been found to possess scale-free and small-world network properties reflected by so-called power law distributions. Scale-free properties evolve in large complex networks through self-organizing processes and more specifically, preferential attachment. New...
Persistent link: https://www.econbiz.de/10011337985
We introduce a new measure of systemic risk, the change in the conditional joint probability of default, which assesses the effects of the interdependence in the financial system on the general default risk of sovereign debtors. We apply our measure to examine the fragility of the European...
Persistent link: https://www.econbiz.de/10010226548
World power and gas markets have a natural relationship with global tradable carbon permits markets, including the U.S. Clean Air Act Amendments and the EU Emissions Trading Scheme, the latter officially launched in January 2005. Electric utilities operate their power plants based in part on the...
Persistent link: https://www.econbiz.de/10003394343
The carry-over effect is the advance contribution of the old year to growth in the new year. Among practitioners the informative content of the carry-over effect for short-term forecasting is undisputed and is used routinely in economic forecasting. In this paper, the carry-over effect is...
Persistent link: https://www.econbiz.de/10012991080
We introduce a new measure of systemic risk, the change in the conditional joint probability of default, which assesses the effects of the interdependence in the financial system on the general default risk of sovereign debtors. We apply our measure to examine the fragility of the European...
Persistent link: https://www.econbiz.de/10013107165
Persistent link: https://www.econbiz.de/10011415639
Should we exempt the services of insurance companies from VAT? Addressing this issue, the paper distinguishes between … insurance against a general loss of resources and a loss of a specific commodity (property insurance). There is a case for … exempting the former kind of insurance, but not the latter. Finally, comparing insurance through a producer warranty with …
Persistent link: https://www.econbiz.de/10011781970
Persistent link: https://www.econbiz.de/10009737796
The insurance industry plays an important role for European economic stability and the threats and opportunities it …
Persistent link: https://www.econbiz.de/10011668873
Persistent link: https://www.econbiz.de/10014231574