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This paper presents an equilibrium model in a pure exchange economywhen investors have three possible sources of heterogeneity. Investorsmay differ in their beliefs, in their level of risk aversion andin their time preference rate. We study the impact of investors heterogeneityon equilibrium...
Persistent link: https://www.econbiz.de/10009486816
proposed. Weights are derived from external variables thatconvey additional information about the true DGP, like trading volume …
Persistent link: https://www.econbiz.de/10009486847
We propose a technique to avoid spurious detections of jumps in highfrequencydata via an explicit thresholding on available test statistics. Weprove that it eliminates asymptotically all spurious detections. MonteCarlo results show that it performs also well in finite samples. In DowJones...
Persistent link: https://www.econbiz.de/10009486851
information. Over time, agents are privatelyinformed by bids and offers. Investors are segmented into groups that differ … withrespect to characteristics determining information quality, including initial infor-mation precision as well as market … “connectivity,” the expected frequency of theirtrading opportunities. Investors with superior information sources attain …
Persistent link: https://www.econbiz.de/10009522183
We use a user-cost model to study how dispersed information among housing marketparticipants a¤ects the equilibrium … speculate onprice changes. Information dispersion leads agents to have heterogeneous expectationsabout housing demand and prices …
Persistent link: https://www.econbiz.de/10009522191
have better information about the state of the world than voters. Three types of institutions are compared: direct …
Persistent link: https://www.econbiz.de/10010320914
During the Corona pandemic, access to reliable information is particularly relevant in order to be able to take … protective measures. However, migrants and refugees in transit and residence countries often lack such access to information …. This opens the opportunity for alternative sources of raising awareness and information. Corona Songs about COVID-19 and …
Persistent link: https://www.econbiz.de/10012692487
focused on studying either the impact of the traditional monitoring and enforcement practices or the impact of information … programs. In this paper, we perform an empirical analysis of the impact of both traditional enforcement and information … penalties) and emerging (information) enforcement strategies. Our results suggest that British Columbia's list of polluters has …
Persistent link: https://www.econbiz.de/10005100988
The uniqueness of bounded local equilibria under interest rate rules is analyzed in a model with sticky information à … determinacy in the associated full-information, flex-price equivalent. The analysis follows from boundedness considerations on the …
Persistent link: https://www.econbiz.de/10005860482
The utility maximisation problem is considered for investors with anticipative additional information. We distinguish …
Persistent link: https://www.econbiz.de/10005862000