As a group, market forecasters are egregiously overconfident. In conformity to the dynamic model of overconfidence of Gervais and Odean (2001), successful forecasters become more overconfident. What’s more, more experienced forecasters have “learned to be overconfident,” and hence are more...

Since it is believed that CO<Subscript>2</Subscript> is responsible for 55% of the greenhouse effect, a CO<Subscript>2</Subscript> levy is now under consideration in several countries. For an assessment of the macroeconomic implications of an integrated energy and environmental policy we employ an applied general equilibrium model (AGE)...</subscript></subscript>

The Value at Risk approach (VaR) is more and more used as a tool for risk measurement. The approach however has shortcomings both from a theoretical and a practical point of view. VaR can be classified within existing concepts of risk measurement: it is particularly interpretable as a special...

In this paper we are looking at routing and scheduling problems arising in the context of home health care services. Many small companies are working in this sector in Germany and planning is still done manually, resulting in long planning times and relatively inflexible solutions.

This paper examines the treatment of sovereign debt exposure within the Basel framework and measures the impact of bank regulation on the demand of Monetary Financial Institutions (MFI) for marketable sovereign debt. Our results suggest that bank regulation has a significant positive impact on...

This paper examines the treatment of sovereign debt exposure within the Basel framework and measures the impact of bank regulation on the demand of Monetary Financial Institutions (MFI) for marketable sovereign debt. Our results suggest that bank regulation has a significant positive impact on...

[Introduction ...] The rest of this paper is set up as follows. In section 2 we provide a brief description of the ECB's comprehensive assessment of the European banking system. In section 3 we describe the data we are using and provide some descriptive statistics, particularly regarding the...