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Collective risk-taking decisions with heterogeneous beliefs

Gollier, Christian - 2003

degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

Persistent link: https://www.econbiz.de/10011507677

Optimal portfolio management for individual pension plans

Gollier, Christian (contributor) - 2005

We explore the various arguments for and against the recommendation that younger households should invest a larger share of their pension wealth in risky assets. The ability of young agents to compensate their financial losses by saving more during their career provides the strongest argument in...

Persistent link: https://www.econbiz.de/10002577086

The design of pension pay out options when the health status during retirement is uncertain

Kifmann, Mathias (contributor) - 2008

Persistent link: https://www.econbiz.de/10003635223

The distribution of ambiguity attitudes

Gaudecker, Hans-Martin von; Wogrolly, Axel; Zimpelmann, … - 2022

This paper analyzes the stability and distribution of ambiguity attitudes using a broad population sample. Using high-powered incentives, we collected six waves of data on ambiguity attitudes about financial markets—our main application—and climate change. Estimating a structural stochastic...

Persistent link: https://www.econbiz.de/10013445542

Export decision under risk

Sousa, José de; Disdier, Anne-Célia; Gaigné, Carl - 2016

regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

Persistent link: https://www.econbiz.de/10011547934

Optimal investment strategies under demand and tax policy uncertainty

Boehm, Hjalmar; Funke, Michael - 2000

In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is true regardless of whether random tax changes are...

Persistent link: https://www.econbiz.de/10009781588

Asymmetries in risk premia, macroeconomic uncertainty and business cycles

Görtz, Christoph; Yeromonahos, Mallory - 2019

A large literature suggests that the expected equity risk premium is countercyclical. Using a variety of different … measures for this risk premium, we document that it also exhibits growth asymmetry, i.e. the risk premium rises sharply in … which agents cannot perfectly observe the state of current productivity, can generate the observed asymmetry in the risk …

Persistent link: https://www.econbiz.de/10012129784

Estimating macroeconomic uncertainty and discord using info-metrics

Lahiri, Kajal; Wang, Wuwei - 2019

We apply generalized beta and triangular distributions to histograms from the Survey of Professional Forecasters (SPF) to estimate forecast uncertainty, shocks and discord using information framework, and compare these with moment-based estimates. We find these two approaches to produce...

Persistent link: https://www.econbiz.de/10012024647

Domestic and global uncertainty : a survey and some new results

Castelnuovo, Efrem - 2019

This survey features three parts. The first one covers the recent literature on domestic (i.e., country-specific) uncertainty and offers ten main takeaways. The second part reviews contributions on the fast-growing strand of the literature focusing on the macroeconomic effects of uncertainty...

Persistent link: https://www.econbiz.de/10012119543

Investment responses to tax policy under uncertainty

Guceri, Irem; Albinowski, Maciej - 2019

How does economic uncertainty affect the impact of tax policy? We exploit a natural experiment in which two very similar investment subsidies were implemented in the same country, two years apart: once during a period of economic stability, and once during a period of very high uncertainty....

Persistent link: https://www.econbiz.de/10012120240

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