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Pricing of Asian temperature risk
Benth, Fred; Härdle, Wolfgang Karl; López Cabrera, Brenda - 2009
Weather derivatives (WD) are different from most financial derivatives because the underlying weather cannot be traded and therefore cannot be replicated by other financial instruments. The market price of risk (MPR) is an important parameter of the associated equivalent martingale measures used...
Persistent link: https://www.econbiz.de/10010270731
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Localising temperature risk
Härdle, Wolfgang Karl; López Cabrera, Brenda; Okhrin, … - 2010
On the temperature derivative market, modeling temperature volatility is an important issue for pricing and hedging. In order to apply pricing tools of financial mathematics, one needs to isolate a Gaussian risk factor. A conventional model for temperature dynamics is a stochastic model with...
Persistent link: https://www.econbiz.de/10010281518
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Forecast based pricing of weather derivatives
Härdle, Wolfgang Karl; López-Cabrera, Brenda; Ritter, … - 2012
Forecasting based pricing of Weather Derivatives (WDs) is a new approach in valuation of contingent claims on nontradable underlyings. Standard techniques are based on historical weather data. Forward-looking information such as meteorological forecasts or the implied market price of risk (MPR)...
Persistent link: https://www.econbiz.de/10010281602
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The Philippine National Innovation System: Structure and Characteristics
Patalinghug, Epictetus - 2003
Industrial development requires technological capability in industry. National innovation system is anchored on the … theory that industrial development requires technological capability in industry, and that exploitation of technology is most … critical at the firm level. This paper describes the structure and characteristics of the Philippine national innovation system …
Persistent link: https://www.econbiz.de/10011429700
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Innovation, employment and skills in advanced and developing countries: A survey of the literature
Vivarelli, Marco - 2012
This paper critically discusses the theoretical and empirical literature on the quantitative and qualitative employment impact of technological change, compares the relative explanatory power of the competing theories, and explains in detail the macro and micro evidence on the issue, with...
Persistent link: https://www.econbiz.de/10010282387
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Research and Development and Technology in the Philippines
Cororaton, Caesar B. - 2002
Research and development (R&D) and technology are analyzed from the perspective of Philippine economic growth in the …&D and technology. General R&D and technology policies and institutional structure and arrangements are examined. National …
Persistent link: https://www.econbiz.de/10011429698
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Der Einfluß von Konsumenten auf die Determinanten wirtschaftlicher Entwicklung: Ein evolutorisches Simulationsmodell
Buschle, Nicole-Barbara - 2002
In dem vorliegenden Papier wird untersucht, inwieweit Verbraucherschutz und der Informationsstand von Konsumenten einen Einfluss auf die Entwicklung einer Industrie haben. Hierzu wird das evolutorische Simulationsmodell von Winter (1984) um einen explizit modellierten Konsumsektor in Anlehnung...
Persistent link: https://www.econbiz.de/10010305444
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Universities, Funding Systems, and the Renewal of the Industrial Knowledge Base – UNI Project Findings
Luukkonen, Terttu - 2014
and innovation in university research. Innovation here refers to novel approaches and potentially, breakthrough research … the study is that, so far, there has not been much impact from the recent policy changes on intellectual innovation in … intellectual innovation in research. Recent policy changes have not fundamentally altered this situation. In the UK, the …
Persistent link: https://www.econbiz.de/10012037653
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Carbon Leakage with International Technology Spillovers
Gerlagh, Reyer; Kuik, Onno - 2007
In this paper we study the effect of international technology spillovers on carbon leakage. We first develop and … leakage. We extend this model with endogenous energy-saving technology and international technology spillovers. This feature … is shown to decrease carbon leakage. We build-in the endogenous energy-saving technology in a large CGE model and verify …
Persistent link: https://www.econbiz.de/10010312376
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Social Identity and Group Lending
Chatterjee, Prabirendra; Sarangi, Sudipta - 2004
The success of joint liability programs depends on nature and composition of borrowing groups. Group formation is a costly process and in our model these costs vary with the social identity of group partners. We show that risk heterogeneity in a borrowing group may arise due to the social...
Persistent link: https://www.econbiz.de/10010260680