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This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system's ability to intermediate may be impaired. Previous financial...
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The point of departure for this paper is the familiar prototype fisheriesmodel where a fictitious sole owner harvests a fish population to maximizepresent discounted profits. The paper answers analytically the followingquestion. ``What happens to a policy when the sole owner also...
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membership to different Payment Systems. The underlying theme of the recommendations is to have a set of financial parameters for …
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understand the nature and characteristics of the enterprises, activity pattern and performance parameters. [WP No. 398]. …
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the shift in a dynamic choice model. Our main result is that any invariant preference must be parametric: there is a … unique sufficient set of parameters such that the preference ranks acts according to their expected utility given the … parameters. Parameters are characterized in terms of objective frequencies, and can thus be interpreted as objective …
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the model's features and behavior as a system, such as the sacrifice ratio or the maximum duration of response of … formulating priors about parameters, without the unintended consequences of independent priors about individual parameters. System … motivated, explained and illustrated using a structural model for monetary policy. …
Persistent link: https://www.econbiz.de/10010790311
consumption-saving model with labor income risk and incomplete markets to relate income dynamics to consumption and welfare, and … derive analytical expressions for income mobility and welfare as a function of the various parameters of the underlying …
Persistent link: https://www.econbiz.de/10010790325