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Integrated financial markets provide opportunities for expansion and improved risk sharing, but also pose threats of contagion risk through cross-border exposures. This paper examines cross-border contagion risk over the period 1999-2006. To that purpose we use aggregate cross-border exposures...
Persistent link: https://www.econbiz.de/10011090344
This paper adresses the robust counterparts of optimization problems containing sums of maxima of linear functions and proposes several reformulations. These problems include many practical problems, e.g. problems with sums of absolute values, and arise when taking the robust counterpart of a...
Persistent link: https://www.econbiz.de/10011090345
We consider both a parametric and a semiparametric method to account for classification errors on the dependent variable in an ordered response model. The methods are applied to the analysis of self-reported speaking fluency of male immigrants in Germany. We find some substantial differences in...
Persistent link: https://www.econbiz.de/10011090346
Persistent link: https://www.econbiz.de/10011090347
Persistent link: https://www.econbiz.de/10011090348
Recently the Dutch financial reporting standard setters have taken steps to make dirty surplus accounting flows more visible to parties outside firms, either by eliminating their possibility or by requiring comprehensive income type statements. These steps are presumably based on the idea that...
Persistent link: https://www.econbiz.de/10011090349
In Hens (1997), a new adjustment process is proposed for a setting with reopening spot and asset markets. He argues by means of an intemporal variant of Scarf's example that this process is more stable than the other processes, although in general it might be more stable or less stable. This...
Persistent link: https://www.econbiz.de/10011090350
Abstract: When it comes to economic reforms in developing countries, many economists agree on broad objectives (such as fostering outward orientation). Broad objectives, however, can be pursued in many di¤erent ways, and policy experimentation is often indispensable for learning which...
Persistent link: https://www.econbiz.de/10011090351
Persistent link: https://www.econbiz.de/10011090352
Persistent link: https://www.econbiz.de/10011090353