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Several approaches for subset recovery and improved forecasting accuracy have been proposed and studied. One way is to apply a regularization strategy and solve the model selection task as a continuous optimization problem. One of the most popular approaches in this research field is given by...
Persistent link: https://www.econbiz.de/10010291802
We quantify the probability that a sovereign defaults on repayment obligations in foreign currency. Adopting the structural approach as first introduced by Merton, we consider the sovereigns ability-to-pay, characterised by the sum of discounted future payment surpluses, as the underlying...
Persistent link: https://www.econbiz.de/10010305443
We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...
Persistent link: https://www.econbiz.de/10010262404
This paper is dedicated to the empirical exploration of the welfare effect of expectations and progress per se. Using ten waves of the Russian Longitudinal Monitoring Survey, a panel household survey rich in subjective variables, the analysis suggests that for a given total stock of...
Persistent link: https://www.econbiz.de/10010267749
Capital flight has characterized the transformation process in Russia. Inflows of foreign direct investment have been minor and have been preceeded by inflows of portfolio capital. The paper shows that uncertainty about macroeconomic stabilization exhibits a strong negative effect on the volume...
Persistent link: https://www.econbiz.de/10010275634
Das Papier gibt zunächst einen Überblick über die Ursachen und ökonomischen Kosten der Bankenkrise in Rußland, die im … Finanzintermediation in Rußland eventuell gefördert werden kann. Diese Betrachtung ergibt jedoch kein neues Ergebnis, sondern lediglich … erläutert, daß Rußland die westliche Bankenregulierung modifizieren sollte. Bei dieser Diskussion werden die jüngsten …
Persistent link: https://www.econbiz.de/10010276794