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Application of stochastic optimal control to financial market debt crises
Stein, Jerome L. - 2009
This interdisciplinary paper explains how mathematical techniques of stochastic optimal control can be applied to the recent subprime mortgage crisis. Why did the financial markets fail to anticipate the recent debt crisis, despite the large literature in mathematical finance concerning optimal...
Persistent link: https://www.econbiz.de/10003807893
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Die Wahrheit über Geld : wie kommt unser Geld in die Welt – und wie wird aus einem Kleinkredit ein großer Finanzcrash?
Brichta, Raimund; Voglmaier, Anton - 2013
Die Wahrheit über Geld? Man kann es in Form von Scheinen oder Münzen anfassen, man verdient es und gibt es aus. Das war es auch schon, oder? Nein, das ist nicht einmal die halbe Wahrheit! Raimund Brichta und Anton Voglmaier graben viel tiefer und stossen nicht zuletzt auf die Wurzeln der uns...
Persistent link: https://www.econbiz.de/10010189980
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The 2008 Financial Crisis and Taxation Policy
Hemmelgarn, Thomas - 2010
Persistent link: https://www.econbiz.de/10009639922
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Euro Zone Crisis and EU Governance: Tackling a Flawed Design and Inadequate Policy Arrangements
Daianu, Daniel - CASE-Center for Social and Economic Research - 2012
inadequate policy and institutional design. The euro zone crisis is not related to fiscal negligence only; over-borrowing by the …
Persistent link: https://www.econbiz.de/10009650245
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Fiscal and financial determinants of Eurozone sovereign spreads
Caggiano, Giovanni; Greco, Luciano - In: Economics Letters 117 (2012) 3, pp. 774-776
The relationship between fiscal and financial euro area indicators and sovereign yield spreads has changed after the …
Persistent link: https://www.econbiz.de/10010594120
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Euro zone crisis and EU governance: Tackling a flawed design and inadequate policy arrangements
Daianu, Daniel - 2012
inadequate policy and institutional design. The euro zone crisis is not related to fiscal negligence only; over-borrowing by the …
Persistent link: https://www.econbiz.de/10011430884
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The 2008 Financial Crisis and Taxation Policy
Hemmelgarn, Thomas; Nicodème, Gaëtan - C.E.P.R. Discussion Papers - 2010
The 2008 financial crisis is the worst economic crisis since the Great Depression of 1929. It has been characterised by a housing bubble in a context of rapid credit expansion, high risk-taking and exacerbated financial leverage, leading to deleveraging and credit crunch when the bubble burst....
Persistent link: https://www.econbiz.de/10008468635
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Debt brakes in the German states : governments' rhetoric and actions
Potrafke, Niklas; Riem, Marina; Schinke, Christoph - 2016
In 2009 a new law on German debt brakes was passed: state governments are not allowed to run structural deficits after 2020. Consolidation strategies initiated today influence if a state can comply with the debt brake in 2020. We describe to what extent government ideology predicts if state...
Persistent link: https://www.econbiz.de/10011414651
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Fiscal reaction function and fiscal fatigue : evidence for the euro area
Checherita-Westphal, Cristina; Žďárek, Václav - 2017
This paper estimates a fiscal reaction function (FRF) framework for euro area countries and derives a novel approach to … measure fiscal fatigue. As in previous studies, we find evidence that euro area sovereigns abide, on average, by (weak … specifications is weaker for our euro area sample. …
Persistent link: https://www.econbiz.de/10011637036
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German public finances through the financial crisis
Blömer, Maximilian (contributor) - 2015
The German experience of the crisis was very different compared to those of most other countries in Europe. Germany was hit by a very strong shock which was relatively concentrated in the exporting, manufacturing industries. In addition, the German labour market was very resilient during the...
Persistent link: https://www.econbiz.de/10011286043