to the economic structure. Accordingly, this paper designs the central bank loss functions and rules, which are … and use the idea of implementation theory, in designing the central bank loss functions and policy rules. Both ways result … in identical central bank loss functions and policy rules. We also examine four equivalent methods of implementing …

In this paper, we investigate the importance of different loss functions when estimating and evaluating option pricing …

In this paper we investigate the importance of different loss functions when estimating and evaluating option pricing …

risk-management loss functions. Under statistical losses, we use both tests of equal predictive ability of the Diebold … under two subjective VaR-based loss functions. The empirical analysis demonstrates that MRS-GARCH models do really …-based risk-management loss functions. In particular, all tests reject the presence of a better model than the MRS-GARCH with …

, using discretion with the central bank long-run and short-run loss functions, and following monetary policy rules. All lead … long-run and short-run loss functions) and monetary policy rules imply a complete regime for optimal policy making. The … central bank long-run and short-run loss functions that produce the optimal policy with discretion differ from the social loss …

, the loss functions involved are asymmetric, with the degree of asymmetry increasing according to the level of commercial …

In this paper, we investigate the importance of different loss functions when estimating and evaluating option pricing … hoc Black-Scholes model to DAX index options. Our empirical results suggest that different loss functions lead to …