Farmer, Waggoner, and Zha (2009) show that a new Keynesian model with a regime-switching monetary policy rule can support multiple solutions that depend only on the fundamental shocks in the model. Their note appears to find solutions in regions of the parameter space where there should be no...

This paper investigates the relationship between technology specialization and innovation performance of firms emphasizing technology transfer activities with universities as an important knowledge source in order to attenuate the opportunity costs of technological specialization. Based on an...

The goal of this paper is to quantitatively assess the relationships between the service structure and size and age structure of the population, as well as the income levels and employment structure of Estonian municipalities. The article consists of three parts. The first part deals with the...

This study is the first to examine strategic mortgage default and financial herding on a neurological level. Using fMRI technology, we identify a number of substrates within the brain that provide a neurobiological explanation for why some homeowners exercise their mortgage put option while...

Depending on the kind of realized mission, sensitivity to risk, which is a result of the decision about liquid assets investment level, NPOs should choose that level and resulting from it, the liquid assets financing. The kind of organization influences the best strategy choice. The organization...

In dependence of kind of realized mission, sensitivity on risk, which is a result of decision about liquid assets investment level and liquid assets financing. The kind of organization influence the best strategy choice. The organization choosing between various solutions in liquid assets needs...

Insurance activities cannot be solely based on pooling arguments as issued policies share common risk drivers which can be hard to diversify. These risks can be transferred from insurers to reinsurers. We describe the reinsurance market and discuss the demand for reinsurance. Moral hazard issues...