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Optimal dynamic risk sharing when enforcement is a decision variable

Koeppl, Thorsten V. - 2003

Societies provide institutions that are costly to use, but able to enforce long-run relationships. We study the optimal decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions. Third-party enforcement is modelled as a costly...

Persistent link: https://www.econbiz.de/10009635888

Risk sharing through financial markets with endogenous enforcement of trades

Köppl, Thorsten V. - 2004

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved through financial markets when enforcement is based on the...

Persistent link: https://www.econbiz.de/10009636542

Guess what

Koeppl, Thorsten V.; Monnet, Cyril - 2004

Exchanges and other trading platforms are often vertically integrated to carry out trading, clearing and settlement as one operation. We show that such vertical silos can prevent efficiency gains from horizontal consolidation of trading and settlement platforms to be realized. Independent of the...

Persistent link: https://www.econbiz.de/10009639429

Tax compliance social norms and institutional quality : an evlolutionary theory of public good provision

Nicolaides, Panayiotis - 2014

Persistent link: https://www.econbiz.de/10010478775

Resources, scarcity, growth and the environment

Ayres, Robert U. - 2001

Persistent link: https://www.econbiz.de/10009636659

What makes regions in Eastern Europe catching up?

Tondl, Gabriele; Vuksic, Goran - 2003

This paper analyses regional growth in eastern Europe in the second half of the 1990s, when regional disparities sharply increased. It aims to identify the factors behind growth and to investigate in particular the role of (foreign) investment, education and innovation as well as geographical...

Persistent link: https://www.econbiz.de/10009636915

Forecasting euro area inflation

Hubrich, Kirstin - 2003

Monitoring and forecasting price developments in the euro area is essential in the light of the second pillar of the … ECBu0092s monetary policy strategy. This study analyses whether the forecasting accuracy of forecasting aggregate euro area …) as opposed to forecasting the aggregate HICP directly. The analysis includes univariate and multivariate linear time …

Persistent link: https://www.econbiz.de/10009635954

Budgetary forecasts in Europe - the track record of stability and convergence programmes

Strauch, Rolf; Hallerberg, Mark; Hagen, Jürgen von - 2004

that the cyclical position and the form of fiscal governance are major determinants of forecast biases. Projected changes …

Persistent link: https://www.econbiz.de/10009636530

Modelling inflation in the euro area

Jansen, Eilev S. - 2004

encompasses a general unrestricted model and it forecast encompasses the competitors when tested on 20 quarters of one step ahead …

Persistent link: https://www.econbiz.de/10009636545

Waste opportunities

Europäische Umweltagentur; European Environment Agency - 2011

Persistent link: https://www.econbiz.de/10009668633