Environmental and natural resource accounting has heretofore mostly been conducted in a national income accounting context. Yet income inequality and poverty statistics are often exceedingly optimistic absent an adequate accounting of environmental losses. Following Khan's study on Bangladesh...

This paper presents a macro-economic methodology for evaluating the forward-looking Sharpe Ratios of the equity and debt components of the United States public company capital structure. Using this framework, it is shown that the equity and debt Sharpe Ratios are both time variant and disparate....

The capital markets in general, and the equity markets in particular, exhibit a well-known phenomenon: During times of distress, intra-market correlations tighten, as traded assets exhibit a greater sensitivity to the "systematic factor." This paper extends that analysis to the corporate bond...

Whereas the callable-bond market used to emphasize primarily public debt - Government Agencies, and both investment grade and non-investment corporate debt - that has changed dramatically over the past twenty years, in part due to the low prevailing rates of interest as well as some systematic...

This paper presents a parsimonious, implementable model for the estimation of the short- and long-term expected rates of return on the Samp;P 500 stock market Index. The model estimates a parametric form for the Market Price of Risk, the Sharpe Ratio, of the Samp;P 500 Index. In addition to...

The use of GDP growth as an indicator of national progress has many critics. Ahluwalia and Chenery noted that GDP growth places greater weight on the income growth of richer income groups, and proposed distribution-neutral and pro-poor alternatives. More recently, studies by the World Resources...

Accounting for environmental damage is relevant to how one measures the extent and severity of inequality and poverty, and the question of ecological distribution - how the costs associated with environmental damage are distributed across the population - is critical. Following Khan’s (1997)...