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Some financial implications of United States pension actuarial methods and assumptions
Gold, Jeremy - 2000
management while ignoring and contradicting contemporaneous developments in finance. This has distorted the accounting, tax and … finance lessons of Black (1980) and Tepper (1981) to "cash balance" pension plans, concluding that these plans can best serve … investing and smooth away the risks incurred without causing bias. Modern finance may correct this and inform future actuarial …
Persistent link: https://www.econbiz.de/10009439129
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Equilibrium, efficient-markets, and liquidity in the cash-in-advance model
Arroyo, Cristino Rodriguez; Arroyo, Cristino Rodriguez - 1991
The existence of equilibrium is a test of the internal consistency of an economic model. In any model with domestic moneys and dividend-yielding assets, the first question is: will money be dominated by assets in equilibrium? In cash-in-advance models domestic moneys always have positive...
Persistent link: https://www.econbiz.de/10009441845
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Essays on nonstationary time series
Jiang, Bibo; Jiang, Bibo - 2008
In the first chapter, we consider the logistic regression model with an integrated regressor. In particular, we derive the limit distributions of the nonlinear least squares (NLS) estimators and their t-ratios. It is shown that the NLS estimators are generally not efficient. Moreover, the...
Persistent link: https://www.econbiz.de/10009441897
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Essays on decision making
Gilbert, Stanley W.; Gilbert, Stanley W. - 2008
This dissertation includes three essays on decision-making by boundedly rational economic agents. The first essay deals with decision-making by firms where decision-making is costly. The other two essays deal with decision-making by individuals. Taken together, the last two argue that...
Persistent link: https://www.econbiz.de/10009441899
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Moving to a direct tax on consumption: Some transitional issues
Sarkar, Shounak Sankar; Sarkar, Shounak Sankar - 1994
The thesis shows two possible ways in which intergenerational redistributions associated with a reform from a comprehensive income tax to a direct consumption tax are affected when the standard models studying this phenomenon are extended.The usual models studying the welfare impact of a direct...
Persistent link: https://www.econbiz.de/10009441903
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Essays on the taxation of capital income
Aemkulwat, Chairat; Aemkulwat, Chairat - 1996
-base and the R+F-base--and the importance of the firm's choices between local debt finance and parent multinational finance is …
Persistent link: https://www.econbiz.de/10009441909
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Institutions and development: Evidence from Vietnam
Nguyen, Nguyen An - 2009
The dissertation is composed of three papers on institutions and development, with special focus on Vietnam. The first paper, "Club Good and Contract Enforcement," investigates the contract enforcement power of the communities whose members participate voluntarily. By investing in club goods,...
Persistent link: https://www.econbiz.de/10009441917
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Symbiotic transfer, arbitrage, and equilibrium
Won, Dong Chul; Won, Dong Chul - 1993
We lay a unified foundation for a theory of general equilibrium by proving the existence of an equilibrium for a grand model which covers all the well-known general equilibrium models under the convexity and continuity assumptions. The grand model allows an economy to have an extended list of...
Persistent link: https://www.econbiz.de/10009441940
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Econometric analysis of ARCH models with persistent covariates
Han, Heejoon; Han, Heejoon - 2006
We consider a volatility model, named ARCH-NNH model, that is specifically an ARCH process with a nonlinear function of a persistent, integrated or nearly integrated, explanatory variable.We first establish the asymptotic theories showing that the time series properties of our model successfully...
Persistent link: https://www.econbiz.de/10009441968
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Social interaction and economic institution
Park, Yongjin - 2004
borrowing firms, banks may increase the number of firms they initially finance by offering lower loan rates. At the same time …
Persistent link: https://www.econbiz.de/10009467803