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We Embed an Efficiency Wage View of the Labor Market a la Shapiro and Stiglitz (1984) Into the Standard Hecksher …
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We provide a representation theorem for risk measures satisfying (i) monotonicity; (ii) positive homogeneity; and (iii) translation invariance. As a simple corollary to our theorem, we obtain the usual representation of coherent risk measures (i.e., risk measures that are, in addition,...
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This Paper Provides a Rationale for the Difference Between Contract and Spot Prices Which Is Not Based on Risk Aversion …
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Prices. the Second Part of the Paper Deals with the Econometric Implications of the Model. the Consumption and Portfolio … Consumption, Portfolio Decisions, Output and Asset Prices Are Stationary. We Formulate a Gaussian Model, Very Similar to Hansen …
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