Понятие «деловая репутация» (гудвил) зародилось более пяти веков назад, однако и по сей день гудвил остается одной из самых загадочных категорий экономики и...

We study the valuation of unit-linked life insurance contracts with surrender guarantees. Instead of solving an optimal stopping problem, we propose a more realistic approach accounting for policyholders’ rationality in exercising their surrender option. The valuation is conducted at the...

Cyclical components are analytically computed in a theoretical model of stochastic endogenous fluctuations and growth. Volatility is shown to depend on the speed of convergence of the cyclical component, the expected length of a cycle and on the altitude of the slump. Taxes affect these channels...

This paper analyses a RBC model in continuous time featuring deterministic incremental development of technology and stochastic fundamental inventions arriving according to a Poisson process. Other than in standard RBC models, shocks are uncorrelated, irregular and rather seldom. In two special...

Für Geschäftsführer und Manager ist es schon immer wichtig gewesen, gut informiert zu sein und der Stellenwert des Informationsfaktors erhöht sich ständig. Zum einen haben sich die weltweiten Wettbewerbsbedingungen verschärft, was zu einer stark angestiegenen Komplexität führt, und zum...