Showing 21 - 30 of 35,659
Background. Diabetic chronic foot ulcers lead to pain, discomfort and represent a severe economic burden for patients and health systems. The increasing prevalence in diabetes, will lead a higher incidence and costs for Diabetic chronic foot ulcers in next years. Conventional treatment have a...
Persistent link: https://www.econbiz.de/10012824648
Auctions are widely used to determine the remuneration for renewable energies. They typically induce a high concentration of renewable energy plants at very productive sites far-off the main load centres, leading to an inefficient allocation as transmission line capacities are restricted but not...
Persistent link: https://www.econbiz.de/10012866926
We develop models for portfolio diversification in the sovereign credit default swap (CDS) markets and show that, despite literature findings that sovereign CDS spreads are affected by global factors, there is sufficient idiosyncratic risk to be diversified away. However, we identify regime...
Persistent link: https://www.econbiz.de/10012968550
This paper uses a risk-management approach to re-profile the sovereign debt of countries facing debt crises. Using scenario analysis we develop a risk measure of the sovereign's debt -- Conditional Debt-at-Risk -- and an optimization model is used to trace risk profiles that tradeoff expected...
Persistent link: https://www.econbiz.de/10013005957
Debt restructuring is one of the policy tools available for resolving sovereign debt crises and, while unorthodox, it is not uncommon. We propose a scenario analysis for debt sustainability and integrate it with scenario optimization for risk management in restructuring sovereign debt. The...
Persistent link: https://www.econbiz.de/10013006075
This paper characterizes the out-of-equilibrium dynamics of a symmetric, pure exchange economy with two goods and N agents with uniformly distributed preferences and identical endowments. Relaxing the auctioneer assumption, but maintaining a global price rule, sequentially random pairwise...
Persistent link: https://www.econbiz.de/10013007729
We model sovereign debt sustainability with optimal financing decisions under macroeconomic, financial, and fiscal uncertainty, with endogenous risk and term premia. Using a coherent risk measure we trade off debt stock and flow risks subject to sustainability constraints. We optimize static and...
Persistent link: https://www.econbiz.de/10012851344
This paper develops a tractable theoretical framework for the Top Trading Cycles (TTC) mechanism for school choice that allows quantifying welfare and optimizing policy decisions. We compute welfare for TTC and Deferred Acceptance (DA) under different priority structures, and find that the...
Persistent link: https://www.econbiz.de/10012854384
We consider convertible bonds that contractually stipulate payment standstill, contingent on a market indicator of a sovereign's creditworthiness breaching a distress threshold. This financial innovation limits ex-ante the likelihood of debt crises and imposes ex-post risk sharing between...
Persistent link: https://www.econbiz.de/10012855874
This paper experimentally tests the effectiveness of three crowdsourced signaling mechanisms on their ability to resolve an asymmetric information problem over product quality for a set of consumers. Motivated by naturally occurring environments, the first mechanism allowed experimental subjects...
Persistent link: https://www.econbiz.de/10012860919