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The Effects of International Financial Integration in a Model with Heterogeneous Firms and Credit Frictions
Clemens, Christiane; Heinemann, Maik - 2013
This paper examines the consequences of international financial integration in a two sector heterogeneous agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10010328743
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On Depth and Retrospect: “I Forget, and Forgive – but I Discount”
Martins, Ana Paula - 2007
The discounting of future felicity flows transposes to the intertemporal optimization context the assumption of interest-bearing wealth or savings. The validity of the hypothesis has been challenged by several empirical (ir)regularities and by the theoretical implications for human decision...
Persistent link: https://www.econbiz.de/10011496053
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The effects of international financial integration in a model with heterogeneous firms and credit frictions
Clemens, Christiane; Heinemann, Maik - 2013
This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10010199729
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The Effects of International Financial Integration in a Model with Heterogeneous Firms and Credit Frictions
Clemens, Christiane - 2013
This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10013073605
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Untangling the Present Value Discount Rate in the Competitive Market Context
Dawson, Peter C. - 2019
The present value discount rate is about the investor, the expected market rate of return on his best alternative asset (BAA), his opportunity cost of buying a subject asset (not the subject's rate of return, subject owner's/seller's cost of capital, nor the required rate of return on an...
Persistent link: https://www.econbiz.de/10012903559
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Comparative Advantage and Uncertainty Bearing
Méra, Xavier - 2014
The law of association as exposed by David Ricardo and generalized by Ludwig von Mises cannot directly grasp what is at stake in exchanges involving specialization in uncertainty bearing. In this article we explain why the entrepreneurial function as conceptualized by Frank Knight and Mises does...
Persistent link: https://www.econbiz.de/10013053552
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How Good is the Exponential Function Discounting Formula? : An Experimental Study
Ben-Zion, Uri - 2003
findings can be attributed to the overreaction, overconfidence, mental accounting and narrow-framing behaviors discussed in …, and its expected growth rate. The paper examines whether other mathematical functions, such as linear, quadratic and cubic … given by the exponential function and overvalue the simple interest discounting formula given by the linear function. These …
Persistent link: https://www.econbiz.de/10012739630
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On depth and retrospect : "i forget, and forgive - but i discount"
Martins, Ana Paula - 2007
The discounting of future felicity flows transposes to the intertemporal optimization context the assumption of interest-bearing wealth or savings. The validity of the hypothesis has been challenged by several empirical (ir)regularities and by the theoretical implications for human decision...
Persistent link: https://www.econbiz.de/10011523140
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On Depth and Retrospect: “I Forget, and Forgive – but I Discount”
Martins, Ana Paula - Economics and Econometrics Research Institute (EERI) - 2007
The discounting of future felicity flows transposes to the intertemporal optimization context the assumption of interest-bearing wealth or savings. The validity of the hypothesis has been challenged by several empirical (ir)regularities and by the theoretical implications for human decision...
Persistent link: https://www.econbiz.de/10009492742
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On Simple Conditions for Mixed Equilibria in Dualistic Models. Part I: Degree of Mobility
Martins, Ana Paula - Economics and Econometrics Research Institute (EERI) - 2006
On Simple Conditions for Mixed Equilibria in Dualistic Models. Part I: Degree of Mobility
Persistent link: https://www.econbiz.de/10009492743