How does convenience yield interact with sovereign risk and the supply of government bonds? We propose a model of sovereign debt and default in which convenience yield arises because investors are able to pledge government bonds as collateral on financial markets. Convenience yield is dependent...

How does convenience yield interact with sovereign risk and the supply of government bonds? We propose a model of sovereign debt and default in which convenience yield arises because investors are able to pledge government bonds as collateral on financial markets. Convenience yield is dependent...

How does convenience yield interact with sovereign risk and the supply of government bonds? We propose a model of sovereign debt and default in which convenience yield arises because investors are able to pledge government bonds as collateral on financial markets. Convenience yield is dependent...

How does convenience yield interact with sovereign risk and the supply of government bonds? We propose a model of sovereign debt and default in which convenience yield arises because investors are able to pledge government bonds as collateral on financial markets. Convenience yield is dependent...

Abstract This paper demonstrates that people manipulate their ambiguity aversion when it is self-serving. In an online experiment, subjects are asked to choose between a selfish option and an altruistic option. Under the altruistic option, the charity’s payoff depends on an ambiguous lottery,...

Energy plays a vital role in economic development. Economic growth and demand for energy is positively correlated. The demand for energy increases with the increase in the standard of living and economic growth. It is vital input for industry, agriculture and service sectors as electricity is...