We analyze the design of optimal environmental policy when environmentaldamage is uncertain and investments in abatement technologies are irreversible. Weassume that the investment in the new abatement technology can be used for twoperiods and that the true extent of environmental damage will...

Modelling infrastructure as an international public good in a two-country modelof trade where each country’s social planner behaves strategically, we showthat the equilibrium levels of infrastructure are sub-optimal from a globalperspective...

[...]In the first half of the paper, we review the significantchanges in the housing finance system over the past thirty yearsand discuss the implications of these changes for the cost andavailability of mortgage credit. In the second half, we present atwo-part econometric analysis of the...

[...]This paper looks for evidence of both types of crediteffects—those that are endogenous to the monetarymechanism and those that are exogenous—using informationon banks’ commercial credit standards as a proxy for bankcredit availability. We compare results from an...

Einem deutschen Investor, der in LV-Sekundärmarktprodukteinvestieren möchte,steht mittlerweile eine ganze Palette vonAnlageinstrumenten zur Verfügung. DieUnterschiede beschränken sich nicht nur aufdie Auswahl der verschiedenen LV-Zweitmärkte,sondern der Anleger kann auchunter verschiedenen...

[...]A key finding of our work is that for small auction sizes,TIO interest rates are fairly comparable to MBS repo rates forterm lengths of five days or more. However, shorter termlengths result in the Treasury receiving lower TIO rates relativeto market rates. We also observe a negative...

The survey assessed senior managers' views of and experiences with the innovation-to-cash process.

Real world investment decisions are generally made sequentially over time. The possibility of subsequent decisions like suspending a project must be considered when an initial investment decision is made....