Similar Search Results

Welzel, Peter; Broll, Udo - 2003

loans to the case of two types of credit risk. Standard results on the optimal hedge volume and the hedging effectivity from … loans to the case of two types of credit risk. Standard results on the optimal hedge volume and the hedging effectivity from …

Persistent link: https://www.econbiz.de/10010263007

Agent-based modelling: A methodology for the analysis of qualitative development processes

Pyka, Andreas; Grebel, Thomas - 2003

The tremendous development of an easy access to computational power within the last 30 years has led to the widespread use of numerical approaches in almost all scientific disciplines. The first generation of simulation models was rather focused on stylized empirical phenomena. With agent-based...

Persistent link: https://www.econbiz.de/10010263008

Managing credit risk with credit and macro derivatives

Welzel, Peter; Schweimayer, Gerhard; Broll, Udo - 2003

used to examine credit derivatives and macro derivatives as instruments to hedge credit risk for a large com- mercial bank …Wir ergänzen den industrieökonomischen Ansatz der Banktheorie um Unsicherheit und Risikoaversion, um Kredit- und …

Persistent link: https://www.econbiz.de/10010263009

Zum Innovationsanreiz umweltpolitischer Instrumente: Rehabilitierung der Auflagenpolitik?

Michaelis, Peter - 2004

Die vergleichende Analyse umweltpolitischer Instrumente kommt regelmäßig zu dem Ergebnis, dass Emissionsabgaben einen höheren Innovationsanreiz auslösen als Emissionsauflagen. Demgegenüber weisen neuere Studien der empirischen Innovationsforschung auf keine eindeutige Rangfolge zwischen den...

Persistent link: https://www.econbiz.de/10010263016

Hedging with Credit Derivatives and its Strategic Role in Banking Competition

Pausch, Thilo; Schweimayer, Gerhard - 2004

The tremendous growth of markets for credit derivatives since the mid 1990's has raised questions regarding the role of … these instruments in the banking in- dustry which is heavily exposed to credit risk. However, while recent literature mainly … focused on pricing and optimal decisions regarding volumes of credit derivatives the present paper centers the strategic role …

Persistent link: https://www.econbiz.de/10010263017

Incentives for Innovation in Pollution Control: Emission Standards Revisited

Michaelis, Peter; Dietz, Jürgen - 2004

Conventional analysis of the economics of environmental policy usually claims that emission taxes induce a stronger incentive for an improvement in pollution abatement technologies compared to emission standards. In contrast, recent empirical studies reveal that there is no systematic...

Persistent link: https://www.econbiz.de/10010263020

Schumpeterian dynamics and financial market anomalies

Merey, Esther; Hanusch, Horst; Grebel, Thomas - 2004

In this paper we try to put together both the dynamics of the endogenous evolution of an industry and the corresponding dynamics on the capital market. The first module of our modelling efforts is the endogenous evolution of the industry based on the micro-behaviour of boundedly rational agents....

Persistent link: https://www.econbiz.de/10010263021

Weitzman revisited: emission standards vs. taxes with uncertain control costs and market power of polluting firms

Heuson, Clemens - 2008

economic theory has restricted to either of them when submitting conventional policy instruments to a comparative analysis. The …

Persistent link: https://www.econbiz.de/10010266125

Monitoring and privacy in automobile insurance markets with moral hazard

Filipova, Lilia - 2007

This paper considers moral hazard insurance markets when voluntary monitoring technologies are available and insureds may choose the precision of monitoring. Also privacy costs incurred thereby are taken into account. Two alternative contract schemes are compared in terms of welfare: (i)...

Persistent link: https://www.econbiz.de/10010266128

Emission standards vs. taxes: the case of asymmetric Cournot duopoly and uncertain control costs

Heuson, Clemens - 2008

, hitherto environmental economic theory has restricted itself to either of them when submitting conventional policy instruments …

Persistent link: https://www.econbiz.de/10010266129