Similar Search Results

A non-linear forecast combination procedure for binary outcomes

Lahiri, Kajal; Yang, Liu - 2015

We develop a non-linear forecast combination rule based on copulas that incorporate the dynamic interaction between individual predictors. This approach is optimal in the sense that the resulting combined forecast produces the highest discriminatory power as measured by the receiver operating...

Persistent link: https://www.econbiz.de/10010475341

A risk allocation approach to optimal exchange rate policy

Mundaca, B. Gabriela (contributor); Strand, Jon (contributor) - 2004

We derive the optimal exchange rate policy for a small open economy subject to terms-oftrade shocks. Firm owners and workers are risk averse but workers more so. Wages are given or partially indexed in the short run, and capital markets are imperfect. The government sets the exchange rate to...

Persistent link: https://www.econbiz.de/10002524066

Tradable emission permits in a federal system

Verbon, Harrie (contributor); Withagen, Cees (contributor) - 2005

different institutional arrangements, through the initial allocation of permits. …

Persistent link: https://www.econbiz.de/10003109979

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2023

capital allocation, a 2.8% lower world GDP, a 12% rise in the cross-country dispersion of GDP per capita, lower wages in … opposite effects: significant improvements in capital allocation efficiency and lower cross-country inequality, higher wages in …

Persistent link: https://www.econbiz.de/10014340224

Growing groups, cooperation, and the rate of entry

Ranehill, Eva; Schneider, Frédéric; Weber, Roberto A. - 2014

We study the stability of voluntary cooperation in response to varying rates at which a group grows. Using a laboratory public-good game with voluntary contributions and economies of scale, we construct a situation in which expanding a group's size yields potential efficiency gains, but only if...

Persistent link: https://www.econbiz.de/10010260008

Carbon Leakage and capacity-based allocations : is the EU right?

Meunier, Guy; Ponssard, Jean-Pierre; Quirion, Philippe - 2012

based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best … output and capacity based allocation is proved to be the optimal second best policy. The EU scheme for 2013-2020 is discussed …, using cement as a case study. -- cap and trade ; output based allocation ; subsidization of capacity ; climate policy …

Persistent link: https://www.econbiz.de/10009687241

Dispatching after producing : the supply of non-renewable resources

Daubanes, Julien; Lasserre, Pierre - 2014

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based on the survey of professional forecasters, and regression-based forecasting models for GDP growth, inflation, S&P500 stock price index, and fuel prices. Our results indicate...

Persistent link: https://www.econbiz.de/10010428759

On the private provision of contentious public characteristics

Cornes, Richard; Rübbelke, Dirk T. G. - 2012

We extend the standard public good provision model to allow players to either like or dislike the public characteristic. Those who dislike it are able to take actions to reduce its level. We present conditions under which the existence of a unique noncooperative equilibrium is retained, and...

Persistent link: https://www.econbiz.de/10009571064

Think locally, act locally : spillovers, spillbacks, and efficient decentralized policymaking

Ogawa, Hikaru (contributor); Wildasin, David E. (contributor) - 2007

Persistent link: https://www.econbiz.de/10003623962

Reallocation of corporate resources and managerial incentives in internal capital markets

Brusco, Sandro; Panunzi, Fausto - 2002

Diversified firms often trade at a discount with respect to their focused counterparts. The literature has tried to explain the apparent misallocation of resources with lobbying activities or power struggles. We show that diversification can destroy value even when resources are efficiently...

Persistent link: https://www.econbiz.de/10011410226