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Money and exchange: Folktales and reality

Fayazmanesh, Sasan - 2006

Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over … the past century. Following John R. Hicks' proposal that a realistic monetary theory could be constructed along an … basic theories of monetary analysis. Concentrating primarily on certain fundamental building blocks it covers: the theory …

Persistent link: https://www.econbiz.de/10012648074

Optimal debt dynamics, issuance costs, and commitment

Benzoni, Luca; Garlappi, Lorenzo; Goldstein, Robert S.; … - 2020

We investigate optimal capital structure and debt maturity policies in the presence of fixed issuance costs. We identify the global-optimal policy that generates the highest values of equity across all states of nature consistent with limited liability. The optimal policy without commitment...

Persistent link: https://www.econbiz.de/10012653018

Filtered belief revision and generalized choice structures

Bonanno, Giacomo - 2020

established between the choice structures of revealed-preference theory (developed in economics) and the syntactic belief revision … functions of the AGM theory (developed in philosophy and computer science). In this paper we extend the re-interpretation of (a …

Persistent link: https://www.econbiz.de/10012655885

A simple mathematical model for the legal concept of balancing of interests

Zufall, Frederike; Kimura, Rampei; Peng, Linyu - 2021

We propose simple mathematical models for the legal concept ofbalancing of interests, to resolve the conflict between the rights toprivacy and to the protection of personal data in Art. 7 and Art. 8 ofthe EU Charter of Fundamental Rights (EUCh) against the right ofaccess to information derived...

Persistent link: https://www.econbiz.de/10012659960

Liquidity at risk: Joint stress testing of solvency and liquidity

Cont, Rama; Kotlicki, Artur; Valderrama, Laura - 2019

The traditional approach to the stress testing of financial institutions focuses on capital adequacy and solvency. Liquidity stress tests are often applied in parallel to solvency stress tests, based on scenarios which may not be consistent with those used in solvency stress tests. We propose a...

Persistent link: https://www.econbiz.de/10012661543

Modern political economy: A brief history and some applications

Jakee, Keith - 2021

This article - designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered - is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by...

Persistent link: https://www.econbiz.de/10012662302

Assessing misspecification and aggregation for structured preferences

Allen, Roy E.; Rehbeck, John - 2019

Applied research often tolerates misspecification in order to reach informative conclusions. We focus on how the degree of misspecification varies with the level of aggregation of data for quasilinear utility models. We present aggregation results formalizing that the model cannot get worse when...

Persistent link: https://www.econbiz.de/10012696346

Das Allgemeine Verhaltensmodell von March und Simon

Martin, Albert - 2021

Das Allgemeine Verhaltensmodell von March und Simon verknüpft vier fundamentale Konstrukte der Verhaltenstheorie: das Anspruchsniveau, die Belohnungserwartung, die Zufriedenheit und die Suche nach Verhaltensweisen, die Erfolg und Zufriedenheit versprechen. Die Teilmechanismen, die in dem Modell...

Persistent link: https://www.econbiz.de/10012745155

Breastfeeding and child development

Fitzsimons, Emla; Vera-Hernández, Marcos - 2021

We show that children who are born at or just before the weekend are less likely to be breastfed, owing to poorer breastfeeding support services in hospitals at weekends. We use this variation to estimate the effect of breastfeeding on children's development in the first five years of life, for...

Persistent link: https://www.econbiz.de/10012816075

Short-term Covid-19 forecast for latecomers

Medeiros, Marcelo C.; Street, Alexandre; Valladão, Davi; … - 2021

The number of Covid-19 cases is increasing dramatically worldwide, with several countries experiencing a second and worse wave. Therefore, the availability of reliable forecasts for the number of cases and deaths in the coming days is of fundamental importance. We propose a simple statistical...

Persistent link: https://www.econbiz.de/10012817060