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; analysis demonstrates the important role that risk plays in determining the mean and variabilityquot; of growth as well as the … between taxes and risk-taking we estimatequot; a reduced-form multinomial probit model of household portfolio choice using the …
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demonstrates the important role that risk plays in determining the mean and variability" of growth as well as the conditions under … and risk-taking we estimate" a reduced-form multinomial probit model of household portfolio choice using the method of …
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Recent financial crises in Europe as well as the periodic battles in the U.S. over the debt ceiling point to the importance of fiscal discipline among developed countries. This paper develops an open economy model, calibrated to the U.S. and a subset of the EMU, to evaluate the impact of various...
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