Now showing items 231-240 of 243
Can a Bonus Overcome Moral Hazard?
An Experiment on Voluntary Payments, Competition, and Reputation in Markets for Expert Services
Interactions between players with private information and opposed interests are often prone to bad advice and inefficient outcomes, e.g. markets for financial or health care services. In a deception game we investigate ...
Forecasting Limit Order Book Liquidity Supply Demand Curves with Functional AutoRegressive Dynamics
Limit order book contains comprehensive information of liquidity on bid and ask sides. We propose a Vector Functional AutoRegressive (VFAR) model to describe the dynamics of the limit order book and demand curves and utilize ...
The Role of Shadow Banking in the Monetary Transmission Mechanism and the Business Cycle
This paper investigates the heterogeneous impact of monetary policy shocks on financial in- termediaries. I distinguish between banks and shadow banks based on their funding constraints. Because credit creation by banks ...
Site assessment, turbine selection, and local feed-in tariffs through the wind energy index
Since wind energy is rapidly growing, new wind farms are installed worldwide and a discussion is going on concerning the optimal political framework to promote this development. In this paper, we present a wind energy ...
Tail Event Driven ASset allocation
evidence from equity and mutual funds’ markets
Classical asset allocation methods have assumed that the distribution of asset returns is smooth, well behaved with stable statistical moments over time. The distribution is assumed to have constant moments with e.g., ...