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The principles characterizing the traditional revenue-expense approach to accounting have never been "invented". They … of the traditional accounting principles can be found in behavioral economics, especially in Prospect Theory. If one …
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This paper develops the framework of analysis of monetary systems put together by authors such as Macleod, Keynes, Innes, and Knapp. This framework does not focus on the functions performed by an object but rather on its financial characteristics. Anything issued by anybody can be a monetary...
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Many observers have argued that the fall in RMBS prices during the crisis was partly caused by fire sales. We provide … for insurance companies. We show that risk-sensitive capital requirements and mark-to-market accounting can jointly create …
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We present a model of bilateral real exchange rate determination based on different theories that can be combined into a common statistical framework. Although eclectic, the approach is successfully used to shape a final specification which performs surprisingly well when out of sample exercises...
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Der Periodenerfolg im Kreditgeschäft hängt nicht nur von den Zinserträgen, sondern auch von der Bewertung der Kreditforderungen unter Berücksichtigung des Ausfallrisikos ab. Hier werden Wertberichtigungen für eingetretene Verluste, für erwartete Verluste, und solche zur Berücksichtigung...
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