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Volatility and Diversification of Exports : Firm-Level Theory and Evidence

Vannoorenberghe, Gonzague - 2014

contrast to standard portfolio theory for small exporters, is robust to a wide array of specifications and controls. Our …-run demand shocks. In this setup, the volatility of a firm's exports depends not only on the diversification of its destination … doubt on the commonly held belief that diversification must decrease volatility …

Persistent link: https://www.econbiz.de/10013048894

Diversification, Risk Aversion and Expectation in a Holdout Scenario

Eggert, Wolfgang - 2015

We argue a holdout is not a destructive investor behaviour but a rational investment decision. This investment decision is characterised by the mean-variance approach. We investigate intercreditor conflict by diverse portfolio structure. We demonstrate that at some point during the Greek (2012)...

Persistent link: https://www.econbiz.de/10013013489

Information Transmission and Ownership Consolidation in Aid Programs

Dreher, Axel - 2013

example of a “delegation-scheme.” Conversely, project aid represents a more “centralized” type of aid. According to the theory …

Persistent link: https://www.econbiz.de/10013073609

Information Transmission within Federal Fiscal Architectures : Theory and Evidence

Dreher, Axel - 2013

' consists of unverifiable information and the quality of communication depends on the conflict of interests between the …

Persistent link: https://www.econbiz.de/10013075612

Long Persuasion Games

Koessler, Frédéric - 2007

This paper characterizes geometrically the set of all Nash equilibrium payoffs achievable with unmediated communication …

Persistent link: https://www.econbiz.de/10012778541

Transparency of Monetary Policy : Theory and Practice

Geraats, Petra M. - 2021

, this paper aims to bridge the gap between the theory and practice of monetary policy transparency …

Persistent link: https://www.econbiz.de/10013318125

On the Applicability of Global Approximation Methods for Models with Jump Discontinuities in Policy Functions

Görtz, Christoph G. - 2014

We show that the standard Value Function Iteration (VFI) algorithm has difficulties approximating models with jump discontinuities in policy functions. We find that VFI fails to accurately identify the location and size of jump discontinuities while other methods - such as the Endogenous Grid...

Persistent link: https://www.econbiz.de/10013051605

Characterizing the Sustainability Problem in an Exhaustible Resource Model

Mitra, Tapan; Asheim, Geir B.; Buchholz, Wolfgang; … - 2021

The Dasgupta-Heal-Solow-Stiglitz model of capital accumulation and resource depletion poses the following sustainability problem: is it feasible to sustain indefinitely a level of consumption that is bounded away from zero? We provide a complete technological characterization of the...

Persistent link: https://www.econbiz.de/10013315930

Regime Shifts and Uncertainty in Pollution Control

Zeeuw, Aart de; Zemel, Amos - 2021

We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in the damage coefficient. The model allows the full dynamic characterization of the optimal emission policies under uncertainty. The results, that imply prudent behavior due to...

Persistent link: https://www.econbiz.de/10013315940

Value Function Iteration as a Solution Method for the Ramsey Model

Heer, Burkhard; Maußner, Alfred - 2021

Value function iteration is one of the standard tools for the solution of the Ramsey model. We compare six different ways of value function iteration with regard to speed and precision. We find that value function iteration with cubic spline interpolation between grid points dominates the other...

Persistent link: https://www.econbiz.de/10013316545