Frontmatter -- Inhalt -- Ausländische Unternehmen und einheimische Eliten in Lateinamerika: Ansätze zur Interpretation historischer Erfahrungen und aktueller Tendenzen / Fischer, Thomas -- Teil I: Von der Unabhängigkeit bis zum Ende des 19. Jahrhunderts -- Las élites nacionales, el estado y...

In this paper, a model of bounded rational investors investing their portfolio in a passive investment vehicle (e.g., an Exchange Traded Fund replicating a broad index) or an actively managed fund is presented. The model proposes that the quick reswitching of these short-term oriented investors...

This paper presents a Heterogeneous Agent Model of a financial market with chartist and fundamentalist traders that exhibit bounded rationality and short-term thinking to explain the effect of under and overreaction to news. The existence of the Market Maker's finite price adjustment speed leads...

We develop an agent-based model in which heterogeneous and boundedly rational agents interact by trading a risky asset at an endogenously set price. Agents are endowed with balance sheets comprising the risky asset as well as cash on the asset side and equity capital as well as debt on the...

Long short-term memory (LSTM) networks are a state-of-the-art technique for sequence learning. They are less commonly applied to financial time series predictions, yet inherently suitable for this domain. We deploy LSTM networks for predicting out-of-sample directional movements for the...

Die Soziale Marktwirtschaft in der Bundesrepublik Deutschland ist entscheidend durch die sogenannte «Freiburger Schule» initiiert und geprägt, deren geistiger Mentor und Wegbereiter unbestritten Walter Eucken war. Der Erfolg seiner wirtschaftsordnungspolitischen Konzeption ließ das Interesse...