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The Colonel Blotto game is a two-player constant-sum game in which each player simultaneously distributes her fixed level of resources across a set of contests. In the traditional formulation of the Colonel Blotto game, the players' resources are quot;use it or lose itquot; in the sense that any...
Persistent link: https://www.econbiz.de/10012770491
We examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and to economic activity. We find, first, that the Chinese currency, the renminbi (RMB), is substantially below the value predicted by estimates based upon a cross-country sample,...
Persistent link: https://www.econbiz.de/10012753166
This paper examines the impact of exchange rate uncertainty on different components of portfolio flows, namely equity … exchange rate uncertainty on equity flows is negative in the euro area, the UK and Sweden, and positive in Australia, whilst it … aversion, this suggests that exchange rate uncertainty induces a home bias and causes investors to reduce their financing …
Persistent link: https://www.econbiz.de/10013081704
The financial crisis of 2007-2008 had major implications for the foreign exchange market. We review events and implications for exchange rates, volatility, returns to currency investing, and transaction costs. This “blow-by-blow” narrative is intended to be a resource for researchers seeking...
Persistent link: https://www.econbiz.de/10013095774
This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …
Persistent link: https://www.econbiz.de/10010736746
The paper analyzes a very stylized model of crises and demonstrates how the degree of strategic complementarity in the actions of investors is a critical determinant of fragility. It is shown how the balance sheet composition of a financial intermediary, parameters of the information structure...
Persistent link: https://www.econbiz.de/10013092690
This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …
Persistent link: https://www.econbiz.de/10013059058
This paper incorporates publication uncertainty in a game between researchers and journal editors and examines its … greater journal competition, generally leading to reduced publication uncertainty, would increase author payoffs by increasing …
Persistent link: https://www.econbiz.de/10012977402
they behave the same as the males. Thus part of the observed gender difference in behavior under uncertainty found in …
Persistent link: https://www.econbiz.de/10013315609
This paper provides the first theoretical and empirical analysis of how taxation shapes the joint allocation of risk and profits inside the multinational firm. Theoretically, we show that unconstrained firms optimally allocate all their risk to high-tax countries to maximize risk sharing with...
Persistent link: https://www.econbiz.de/10012915614