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Assessing the Risks of Asset Overvaluation : Models and Challenges

Cecchetti, Sara - 2017

We propose methods to compute confidence bands for the fundamental values of stocks and corporate bonds. These methods take into account uncertainty about future cash flows and about the discount factors used to discount the cash flows. We use them to assess the current degree of...

Persistent link: https://www.econbiz.de/10012956868

The Comparative Study of Behavioral Finance Approach and Standard Finance in Choosing the Optimized Portfolio; In the Times of Boom and Depression in Capital Market of IRAN

Peyravi, Samaneh - 2017

investors. With establishment of a branch named behavioral finance which is based on the works of Kahneman and Tuerski, the role … of financial sciences. On the basis of the behavioral finance theories, the financial behavior of the investors in … is studied in Tehran stock market during 2009 to 2014 from two different aspects of standard and behavioral finance. In …

Persistent link: https://www.econbiz.de/10012959197

Tax-Financing of Budget Deficits in LDCs : Re-Validation of Laffer Curve Theory

Okafor, Samuel - 2017

recessions accompanying incessant crashes in international financial market. Raising existing tax rates to finance budget deficit … LDCs. Study focused on establishing the effectiveness of tax-financing of budget deficit under Laffer curve theory. Study … finance budget deficit …

Persistent link: https://www.econbiz.de/10012960308

Measuring Interest Rate Risk Using a Duration Vector

Jaeger-Ambrozewicz, Manfred - 2017

The duration of a bond approximately measures the interest rate risk caused by parallel shifts of the yield curve. This paper uses a generalization of the duration suggested by Diebold et al. (2006a), that takes the variations of the level, the slope and the curvature of the yield curve into...

Persistent link: https://www.econbiz.de/10012960612

Did the Basel Process of Capital Regulation Enhance the Resiliency of European Banks?

Gehrig, Thomas - 2018

This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages … lacking resiliency. This condition has even aggravated during the European sovereign crisis. Banking Union has not restored …

Persistent link: https://www.econbiz.de/10012910412

The General Theory of Preference, Technology and Institution (Preface)

Lu, Jialiu - 2017

The whole intellectual edifice has in effect collapsed after 2008's world-economy crisis. Anyhow, this is yet not the first time that the intellectual edifice of economics collapses. The first was the collapse of classical economics the late decades of the 19th century. With the appearance of...

Persistent link: https://www.econbiz.de/10012941094

How to Select a Portfolio Performance Measure?

Francois, Pascal - 2020

This paper reviews the main dimensions underlying the selection of a classical portfolio performance measure, namely the Sharpe Ratio, Jensen's alpha, the Modified Jensen's alpha, the Treynor Ratio, and the Information Ratio. We first examine how they differ from each other according to the risk...

Persistent link: https://www.econbiz.de/10012825971

Bitcoin and Its Mining on the Equilibrium Path

Kristoufek, Ladislav - 2019

Bitcoin as a major cryptocurrency has come up as a shooting star of the 2017 and 2018 headlines. After exploding its price twenty times just in the twelve months of 2017, the tone has changed dramatically in 2018 after major price corrections and increasing concerns about its mining power...

Persistent link: https://www.econbiz.de/10012869622

The Evolution of Valuation in Bankruptcy

Simkovic, Michael - 2017

developments in academic finance. Bankruptcy courts shifted gradually, often several decades after the financial community. Newer …

Persistent link: https://www.econbiz.de/10012968788

Stock Market Performance and Macroeconomic Variables - Theory and Critical Review of Literature

Kumar, Arnav - 2015

the subject. Theory suggests that stock market performance has positive relationship with GDP, Money Supply, Industrial …

Persistent link: https://www.econbiz.de/10013011185