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A general framework to evaluate economic efficiency with an application to British SME

Průša, Jan - 2009

This article formalises the idea of money-metric production frontiers, which we propose as a general framework for nonparametric evaluation of economic efficiency. As we show in our methodological discussion, this improves the flexibility and economic interpretation of our model. The empirical...

Persistent link: https://www.econbiz.de/10010322175

The decentralization tradeoff for complementary spillovers

Gregor, Martin; Šťastná, Lenka - 2011

We examine a symmetric two-district setting with spillovers of local public spending where a spill-in from the foreign spending is not a substitute, but a complement to domestic spending. Specifically, we assume production of two district-specific public goods out of two complementary...

Persistent link: https://www.econbiz.de/10010322180

Mikroekonomické modely trhu s externalitami, zobecněný Coaseho teorém

Hlaváček, Jiří; Hlaváček, Michal - 2008

Three original microeconomic models of an externality market are described: (1) model of the marketable permits for exhalations emission, (2) model of optimal financial satisfaction of a damage caused by a negative externality in the economy with agents maximizing probability of their survival...

Persistent link: https://www.econbiz.de/10010322187

Modelling bank loan LGD of corporate and SME segments: A case study

Chalupka, Radovan; Kopecsni, Juraj - 2008

in the pricing of credit risk and the measurement of bank profitability and solvency. Basel II Advance IRB Approach … requires internally estimates of LGD to calculate risk-weighted assets and to estimate expected loss. We analyse the recovery … appropriate choice of a discount factor by introducing risk premium based on a risk level of collaterals. We apply statistical …

Persistent link: https://www.econbiz.de/10010322197

Různá pojetí endogenity peněz v postkeynesovské ekonomii: Reinterpretace do obecnější teorie

Lopušník, Ondřej - 2010

The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing …

Persistent link: https://www.econbiz.de/10010322224

Stress testing of the Czech banking sector

Jakubík, Petr; Heřmánek, Jaroslav - 2008

This article presents the results of stress tests of the Czech banking sector conducted using models of credit risk and … of credit risk for individual sectors. Based on the analysis, an answer is sought to the question of whether the observed …

Persistent link: https://www.econbiz.de/10010322230

Valuation of convexity related derivatives

Witzany, Jiří - 2008

We will investigate valuation of derivatives with payoff defined as a nonlinear though close to linear function of tradable underlying assets. Derivatives involving Libor or swap rates in arrears, i.e. rates paid in a wrong time, are a typical example. It is generally tempting to replace the...

Persistent link: https://www.econbiz.de/10010322240

Which government interventions are good in alleviating credit market failures?

Janda, Karel - 2008

Credit contracting between a lender with a market power and a small start-up entrepreneur may lead to a rejection of projects whose expected benefits are higher than their total costs when an adverse selection is present. This inefficiency may be eliminated by a government support in the form of...

Persistent link: https://www.econbiz.de/10010322247

Firms formation and growth in the model with heterogeneous agents and monitoring

Marko, Peter; Švarc, Petr - 2008

In this article we extend the agent-based model of firms' formation and growth proposed in [4]. In [4] the firms' creation, expansion or contraction results from the interaction of heterogeneous utility maximizers. While the original model was able to replicate the power law distribution in the...

Persistent link: https://www.econbiz.de/10010322258

Duality of power in the European parliament

Turnovec, František - 2008

Increasing number of studies is focusing attention to constitutional analysis of European Union institutions and distribution of intra-institutional and inter-institutional influence in the European Union decision making. Most of the studies are related to distribution of voting power in the EU...

Persistent link: https://www.econbiz.de/10010322260