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McAleer, Michael; Medeiros, Marcelo C. - 2006

This paper reviews the exciting and rapidly expanding literature on realized volatility. After presenting a general univariate framework for estimating realized volatilities, a simple discrete time model is presented in order to motivate the main results. A continuous time specification provides...

Persistent link: https://www.econbiz.de/10011807355

Unconditional Quantile Regressions

Firpo, Sergio; Fortin, Nicole M.; Lemieux, Thomas - 2006

We propose a new regression method to estimate the impact of explanatory variables on quantiles of the unconditional distribution of an outcome variable. The proposed method consists of running a regression of the (recentered) influence function (RIF) of the unconditional quantile on the...

Persistent link: https://www.econbiz.de/10011807357

Altruism, Fertility, and the Value of Children: Health Policy Evaluation and Intergenerational Welfare

Birchenall, Javier A.; Soares, Rodrigo R. - 2007

This paper accounts for the value of children and future generations in the evaluation of health policies. This is achieved through the incorporation of altruism and fertility in a “value of life” type of framework. We are able to express adults’ willingness to pay for changes in child...

Persistent link: https://www.econbiz.de/10011807361

Toward a framework for implementation of climate change treaty through self-enforcing mechanisms

Mehra, Meeta Keswani; Mukherjee, Saptarshi; Dutta, Monica - 2012

Global warming caused by accumulation of emissions of greenhouse gases (GHGs) is a public bad, addressing which requires collective action by all the countries of the world. Under the United Nations Convention on Climate Change (UNFCCC), most countries have negotiated the Kyoto Protocol for GHG...

Persistent link: https://www.econbiz.de/10011807664

Recession and child labor: A theoretical analysis

Chowdhury, Sahana Roy - 2013

Child labor (CL) has been a major concern for the developing world, especially for India with its goal towards 'inclusive growth'. However, impact (or vulnerabilities) of major domestic or external spillovers (policy related or recessionary shocks) on child labor market, in contrary to other...

Persistent link: https://www.econbiz.de/10011807672

Money and politics: The effects of campaign spending limits on political competition and incumbency advantage

Avis, Eric; do Amaral, Claudio A. Ferraz; Finan, … - 2017

This paper examines the effects of campaign spending limits on political competition and incumbency advantage. We study a reform in Brazil that imposed limits on campaign spending for mayoral elections. These limits were implemented with a discontinuous kink which we exploit for causal...

Persistent link: https://www.econbiz.de/10011807895

Gibt es aus portfoliotheoretischer Sicht eine Liquiditätsfalle?

Läufer, Nikolaus K. A. - 2004

Wertpapiers ausfällt. Liquiditätsfallen sind ebenfalls ausgeschlossen, solange das Risiko der Ertragssatzdifferenz eine negative … Rolle spielt, d.h. solange das Risiko größer null ist und solange gleichzeitig Risiko-Aversion besteht. Damit eine … Liquiditätsfalle überhaupt existieren kann muß entweder das Risiko fehlen (Standardabweichung von null der Ertragsatzdifferenz) oder es …

Persistent link: https://www.econbiz.de/10010308434

Research program of the Research Unit "Cultural Sources of Newness"

Hutter, Michael; Berthoin Antal, Ariane; Farías, Ignacio; … - 2010

In this discussion paper the program of the Research Unit Cultural Sources of Newness is presented. Short descriptions of currently nine projects follow. The assumption driving the research program is that newness lies at the core of innovations and emerges in cultural sources, which are...

Persistent link: https://www.econbiz.de/10010308461

A back-door brain drain

Stark, Oded; Byra, Lukasz - 2012

In this paper we study the impact of the international migration of unskilled workers on skill formation and the average skill level in the home country. We analyze what appears to be the least threatening scenario from the point of view of its effect on the supply of skills at home: namely,...

Persistent link: https://www.econbiz.de/10010308475

Default risk in an interconnected banking system with endogeneous asset markets

Bluhm, Marcel; Krahnen, Jan Pieter - 2011

This paper analyzes the emergence of systemic risk in a network model of interconnected bank balance sheets. Given a … shock to asset values of one or several banks, systemic risk in the form of multiple bank defaults depends on the strength … of a system value at risk, Shapley values are used to define the systemic risk charge levied upon individual banks. Using …

Persistent link: https://www.econbiz.de/10010308549