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Lasso-type and heuristic strategies in model selection and forecasting
Savin, Ivan; Winker, Peter - 2012
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
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Sovereign risk in a structural approach: Evaluating sovereign ability-to-pay and probability of default
Karmann, Alexander; Maltritz, Dominik - 2003
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
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Equilibrium Wage Arrears: A Theoretical and Empirical Analysis of Institutional Lock-In
Earle, John S.; Sabirianova, Klara Z. - 2000
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
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Is man doomed to progress?
Senik-Leygonie, Claudia - 2006
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
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The value of waiting: Russia's integration into the international capital markets
Buch, Claudia M.; Heinrich, Ralph P.; Pierdzioch, Christian - 1998
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
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Banking crises in transition countries - theory and empirical evidence: the case of Russia
Thießen, Ulrich - 2000
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
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Poverty in the Russian Federation
Ferrer-i-Carbonell, Ada; van Praag, Bernard M. S. - 2001
This paper is intended to shed light on the extent of poverty in the Russian Federation. We present estimates of poverty lines and poverty ratios derived from subjective questions used in a during data collection for a large household panel (RUSSET). We estimate poverty using a subjective...
Persistent link: https://www.econbiz.de/10010276957
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The use of unit values in estimating trade-related capital flight -The case of CEE countries with special focus on Russia
Gabrisch, Hubert; Szalai, Karin - 2002
Persistent link: https://www.econbiz.de/10010316367
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Poverty and welfare measurement on the basis of prospect theory
Jäntti, Markus; Kanbur, Ravi; Nyyssölä, Milla; … - 2012
This paper examines the measurement of social welfare, poverty and inequality taking into account features that have been found to be important welfare determinants in behavioural economics. Most notably, we incorporate reference-dependence, loss aversion and diminishing sensitivity - aspects...
Persistent link: https://www.econbiz.de/10010319772