Showing 1 - 10 of 75
This paper investigates underlying causes of the debt crisis that only surfaced with Mexico’s unilateral moratorium on her foreign obligations in 1982. The paper investigates the evolutionary trend of LDC debt and the consequences for lenders, borrowers and the international financial system....
Persistent link: https://www.econbiz.de/10005125557
We postulate a new method of identifying debt which we call Debt Burden (DB). We claim that DB reveals the true debt obligations of the fiscal authority. It is more accurate and transparent. Hence, DB would serve fiscal authority much better in policy making. It is powerful in a sense that it is...
Persistent link: https://www.econbiz.de/10005125920
A family of credit risk models is proposed to capture three salient features of Latin American (LA) Sovereign Bond Markets: individual Long Range Dependence in volatility---Long Memory (LM)---, high fractional comovement and time varying risk premia. Evidence in favor of LM is uncovered and the...
Persistent link: https://www.econbiz.de/10005556268
Through financial channels, agricultural protectionism imposes costs on efficient producers that are higher than those associated with negative allocative effects and export losses usually estimated. The link between protectionism and finance has a direct relationship with the WTO Marrakech...
Persistent link: https://www.econbiz.de/10005062687
This paper constructs the probability space underlying the random variable of any time dependent econometric …. Furthermore, it is argued that the probability events belonging to this space are forms of understanding economic activity held by …’s probability space. Finally, a model of the dependencies based on agent-based understandings, and evolution thereof, is presented …
Persistent link: https://www.econbiz.de/10005407919
non-justificationist. We draw on Keynes's "A Treatise on Probability," Hayek's "The Sensory Order," and other works to …
Persistent link: https://www.econbiz.de/10005076652
-Parametric Statistics, Design of Experiments, Probability, Operations Research, and Stochastic Models. The topics covered include … probability, probability, ANOVA, goodness of fit, density functions, cdf, pdf, Baye's formula, Markov chains, expectation …
Persistent link: https://www.econbiz.de/10005556694
This paper constructs the probability space underlying the random variable of any time dependent econometric …. Furthermore, it is argued that the probability events belonging to this space are forms of understanding economic activity held by …’s probability space. Finally, a model of the dependencies based on agent-based understandings, and evolution thereof, is presented …
Persistent link: https://www.econbiz.de/10005561047
Using one of the greatest hedge fund database ever used (2796 hedge funds including 801 dissolved), we investigate hedge funds performance using various asset-pricing models, including an extension form of Carhart's (1997) model combined with Fama & French (1998) Agarwal & Naik (2000) models and...
Persistent link: https://www.econbiz.de/10005134782