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Trading networks with frictions
Fleiner, Tamás; Jagadeesan, Ravi; Jankó, Zsuzsanna; … - 2020
We show how frictions and continuous transfers jointly affect equilibria in a model of matching in trading networks. Our model incorporates distortionary frictions such as transaction taxes, bargaining costs, and incomplete markets. When contracts are fully substitutable for firms, competitive...
Persistent link: https://www.econbiz.de/10012212204
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Testing co-volatility spillovers for natural gas spot, futures and ETF spot using dynamic conditional covariances
Chang, Chia-Lin; McAleer, Michael; Wang, Yanghuiting - 2016 - Revised: June, 2016
gas spot markets, a large number of hedging strategies can be used, especially with the rapid development of natural gas … derivatives markets. These hedging instruments include natural gas futures and options, as well as Exchange Traded Fund (ETF … aspect of constructing optimal dynamic hedging strategies. The paper tests and calculates spillover effects among natural gas …
Persistent link: https://www.econbiz.de/10011490999
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Modelling and testing volatility spillovers in oil and financial markets for USA, UK and China
Chang, Chia-Lin; McAleer, Michael; Tian, Jiarong - 2016 - Revised: June, 2016
results, dynamic hedging strategies will be suggested to analyze market fluctuations in crude oil prices and associated …
Persistent link: https://www.econbiz.de/10011520514
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Sharing RD risk in healthcare via FDA hedges
Jørring, Adam; Lo, Andrew W.; Philipson, Tomas J.; … - 2017 - This draft: 28 March 2017
approval data, we discuss the pricing of FDA hedges and mechanisms under which they can be traded and estimate issuer returns …
Persistent link: https://www.econbiz.de/10011749446
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Accounting for the racial property crime gap in the US : a quantitative equilibrium analysis
Cozzi, Marco - 2010
This paper studies the effects of both labor market conditions and asset poverty on the property crimes involvement of American males. Since the mid 60's the property crimes arrest rate has been four times higher for black males if compared to white ones. Another set of stylised facts show for...
Persistent link: https://www.econbiz.de/10003951079
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Human capital risk, contract enforcement, and the macroeconomy
Krebs, Tom; Kuhn, Moritz; Wright, Mark L. J. - 2015
We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable macroeconomic model with human capital risk, age-dependent...
Persistent link: https://www.econbiz.de/10011308568
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Human capital risk, contract enforcement, and the macroeconomy
Krebs, Tom; Kuhn, Moritz; Wright, Mark L. J. - 2014
We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable macroeconomic model with human capital risk, age-dependent...
Persistent link: https://www.econbiz.de/10010424292
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The Macroeconomics of U.S. Consumer Bankruptcy Choice : Chapter 7 or Chapter 13?
Li, Wenli - 2012
Because of the recent surge in U.S. personal defaults, Congress is currently debating bankruptcy reform legislation requiring a means test for Chapter 7 filers. This paper explores the effects of such a reform in a model where, in contrast to previous work, bankruptcy options and production are...
Persistent link: https://www.econbiz.de/10013097246
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Wealth inequality and the optimal level of government debt
Röhrs, Sigrid; Winter, Christoph - 2011
In this paper, we quantitatively analyze to what extent a benevolent government should issue debt in a model where households are subject to idiosyncratic productivity shocks, insurance markets are missing and borrowing is restricted. In this environment, issuing government bonds facilitates...
Persistent link: https://www.econbiz.de/10009740581
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Towards Effective U.S. Broadband Policies
Wallsten, Scott - 2013
Although recent international broadband penetration rankings have Congress concerned about U.S. broadband policy, these statistics should not play a large role in forming U.S. broadband policy, as they fail to take into account geographic factors, demographic factors and consumer preferences...
Persistent link: https://www.econbiz.de/10014050581