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Moment conditions for dynamic panel logit models with fixed effects

Honoré, Bo E.; Weidner, Martin - 2020

This paper builds on Bonhomme (2012) to develop a method to systematically construct moment conditions for dynamic panel data logit models with fixed effects. After introducing the moment conditions obtained in this way, we explore their implications for identification and estimation of the...

Persistent link: https://www.econbiz.de/10012621115

Revisiting the solution of dynamic discrete choice models: Time to bring back Keane and Wolpin (1994)?

Britton, Jack; Waltmann, Ben - 2021

The 'curse of dimensionality' is a common problem in the estimation of dynamic models: as models get more complex, the computational cost of solving these models rises exponentially. Keane and Wolpin (1994) proposed a method for addressing this problem in finite-horizon dynamic discrete choice...

Persistent link: https://www.econbiz.de/10012625391

Liberalism against liberalism: Theoretical analysis of the works of Ludwig von Mises and Gary Becker

Aranzadi del Cerro, Javier - 2006

important read for those in the fields of economic theory and political economy, Javier Aranzadi argues, in essence, that the …

Persistent link: https://www.econbiz.de/10012648064

Regional monetary policy

Rodríguez Fuentes, Carlos J. - 2006

framework built upon the basic principle of the Post-Keynsian monetary theory which enables the identification of a new way for …

Persistent link: https://www.econbiz.de/10012648065

Money and exchange: Folktales and reality

Fayazmanesh, Sasan - 2006

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over … the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an … basic theories of monetary analysis. Concentrating primarily on certain fundamental building blocks it covers: the theory …

Persistent link: https://www.econbiz.de/10012648074

Optimal debt dynamics, issuance costs, and commitment

Benzoni, Luca; Garlappi, Lorenzo; Goldstein, Robert S.; … - 2020

We investigate optimal capital structure and debt maturity policies in the presence of fixed issuance costs. We identify the global-optimal policy that generates the highest values of equity across all states of nature consistent with limited liability. The optimal policy without commitment...

Persistent link: https://www.econbiz.de/10012653018

Filtered belief revision and generalized choice structures

Bonanno, Giacomo - 2020

established between the choice structures of revealed-preference theory (developed in economics) and the syntactic belief revision … functions of the AGM theory (developed in philosophy and computer science). In this paper we extend the re-interpretation of (a …

Persistent link: https://www.econbiz.de/10012655885

A simple mathematical model for the legal concept of balancing of interests

Zufall, Frederike; Kimura, Rampei; Peng, Linyu - 2021

We propose simple mathematical models for the legal concept ofbalancing of interests, to resolve the conflict between the rights toprivacy and to the protection of personal data in Art. 7 and Art. 8 ofthe EU Charter of Fundamental Rights (EUCh) against the right ofaccess to information derived...

Persistent link: https://www.econbiz.de/10012659960

Liquidity at risk: Joint stress testing of solvency and liquidity

Cont, Rama; Kotlicki, Artur; Valderrama, Laura - 2019

The traditional approach to the stress testing of financial institutions focuses on capital adequacy and solvency. Liquidity stress tests are often applied in parallel to solvency stress tests, based on scenarios which may not be consistent with those used in solvency stress tests. We propose a...

Persistent link: https://www.econbiz.de/10012661543

Modern political economy: A brief history and some applications

Jakee, Keith - 2021

This article - designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered - is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by...

Persistent link: https://www.econbiz.de/10012662302