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The main thesis in this manuscript is that a social choice theory based on aggregating individual preferences and values is insufficient to confront the social choices that today’s world is facing. It is defended in here that institutions play a critical role in any social choice, and that the...
Persistent link: https://www.econbiz.de/10015214328
This book presents the reasons for which, given the globalization brought about by the ICT revolution, both liberalism and realism are ill suited as guides for international relations. And it argues in favor of a third option: institutionalism. The liberal ideal of progress and peace, brought...
Persistent link: https://www.econbiz.de/10015214332
Regularly there are periods of a dramatic decline in stock markets that are defined as “stock market crashes” and cause “stock market crisis”. Analysis of the influence of this crisis over the Spanish stock market, the originating causes and their repercussions over the market can enable...
Persistent link: https://www.econbiz.de/10015224164
Using a dataset on bilateral trade flow at the industry-level from 1980 to 2006, I determine the influence of the industry financial composition on the export flow between a developing country, Pakistan, and its trading partners. Firms undertaking exporting activities may need to fund their...
Persistent link: https://www.econbiz.de/10015235349
We show that the profitability of currency carry trades can be understood as the compensation for exchange rate misalignment risk based on the rare disastrous model of exchange rates (Farhi and Gabaix, 2008). It explains over 97% of the cross-sectional excess returns and dominates other...
Persistent link: https://www.econbiz.de/10015241117
We show that the profitability of currency carry trades can be understood as the compensation for exchange rate misalignment risk based on the rare disastrous model of exchange rates (Farhi and Gabaix, 2008). It explains over 97% of the cross-sectional excess returns and dominates other...
Persistent link: https://www.econbiz.de/10015241174
We show that the profitability of currency carry trades can be understood as the compensation for exchange rate misalignment risk based on the rare disastrous model of exchange rates (Farhi and Gabaix, 2008). It explains over 97% of the cross-sectional excess returns and dominates other...
Persistent link: https://www.econbiz.de/10015241263
We show that the profitability of currency carry trades can be understood as the compensation for exchange rate misalignment risk based on the rare disastrous model of exchange rates (Farhi and Gabaix, 2008). It explains over 97% of the cross-sectional excess returns and dominates other...
Persistent link: https://www.econbiz.de/10015241266
We show that the profitability of currency carry trades can be understood as the compensation for exchange rate misalignment risk based on the rare disastrous model of exchange rates (Farhi and Gabaix, 2008). It explains over 97% of the cross-sectional excess returns and dominates other...
Persistent link: https://www.econbiz.de/10015242156
We analyse the role of time-variation in coefficients and other sources of uncertainty in exchange rate forecasting regressions. Our techniques incorporate the notion that the relevant set of predictors and their corresponding weights, change over time. We find that predictive models which allow...
Persistent link: https://www.econbiz.de/10015244363