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risk analysis and management
(1021 results)-
White Papers
International Trade And Labor Income Risk In The United States
May 2009
This paper studies empirically the links between international trade and labor income risk faced by workers in the United States. The authors use longitudinal data on workers to estimate...
Provided by National Bureau of Economic Research
-
White Papers
The Impact Of State-Level Nutrition-Education Program Funding On BMI: Evidence From The Behavioral Risk Factor Surveillance System
May 2009
Currently, there is insufficient evidence regarding which policies will improve nutrition, reduce BMI, the probability of obesity and the probability of overweight nationwide. This preliminary...
Provided by National Bureau of Economic Research
-
White Papers
What Lies Beneath The Euro's Effect On Financial Integration: Currency Risk, Legal Harmonization, Or Trade?
Mar 2010
Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. The authors investigate the underlying channels of the euro's...
Provided by National Bureau of Economic Research
-
White Papers
Bailouts, The Incentive To Manage Risk, And Financial Crises
Jun 2009
A firm's termination leads to bankruptcy costs. This may create an incentive for outside stakeholders or the firm's debtholders to bail out the firm as bankruptcy looms. Because of this implicit...
Provided by National Bureau of Economic Research
-
White Papers
Risk-Based Pricing And Risk-Reducing Effort: Does The Private Insurance Market Reduce Environmental Accidents?
Jun 2009
This paper examines whether risk-based pricing promotes risk-reducing effort. Such mechanisms are common in private insurance markets, but are rarely incorporated in government assurance programs....
Provided by National Bureau of Economic Research
-
White Papers
Theory Of Financial Risk
Mar 2011
This paper examines relationships between theory of financial risk and size. Based on the work of Makridakis / Taleb [2009] and Taleb / Tapiero [2009], presents the problems of excessive risk and...
Provided by Munich Personal Repec Archive
-
White Papers
Workers' Risk Underestimation And Occupational Health And Safety Regulation
Mar 2011
The standard treatment of occupational risk in the labour market is conducted in terms of the theory of compensating wage differentials, the basic characteristic of which is that workers can fully...
Provided by Munich Personal Repec Archive
-
White Papers
Unobservable Savings, Risk Sharing And Default In The Financial System
Mar 2011
In this paper, the author analyzes how unobservable savings affect risk sharing and bankruptcy decisions in the financial system. The author extends the Diamond and Dybvig (1983) model of...
Provided by Munich Personal Repec Archive
-
White Papers
Economic Rationality, Risk Presentation, And Retirement Portfolio Choice
Mar 2011
This paper studies the propensity of individuals to violate implications of expected utility maximization in allocating retirement savings within a compulsory defined contribution retirement plan....
Provided by Munich Personal Repec Archive
-
White Papers
U.S. Stock Market Crash Risk, 1926-2006
Apr 2009
This paper applies the Bates methodology to the problem of estimating and filtering time-changed Levy processes, using daily data on U.S. stock market excess returns over 1926-2006. In contrast to...
Provided by National Bureau of Economic Research
-
White Papers
Wage Risk And Employment Risk Over The Life Cycle
Apr 2009
The authors specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows to distinguish between different sources of risk...
Provided by National Bureau of Economic Research
-
White Papers
Listing Of Working Papersrisk Matters: The Real Effects Of Volatility Shocks
Apr 2009
This paper shows how changes in the volatility of the real interest rate at which small open emerging economies borrow have a quantitatively important effect on real variables like output,...
Provided by National Bureau of Economic Research
-
White Papers
Surprising Comparative Properties Of Monetary Models: Results From A New Data Base
Apr 2009
Entrepreneurs face significant non-diversifiable business risks. The authors build a dynamic incomplete markets model of entrepreneurial finance to demonstrate the important implications of...
Provided by National Bureau of Economic Research
-
White Papers
Fair Value Accounting And Procyclicality: Mitigating Regulatory And Accounting Policy Differences Through Regulatory Structure Reforms And Enforced Self Regulation
Mar 2011
The adoption of international accounting standards is considered to have a vital role in contributing to financial stability. This paper will also illustrate how the implementation of accounting...
Provided by Munich Personal Repec Archive
-
White Papers
What Drives Fixed Asset Holding And Risk-adjusted Performance Of Corporate In China? An Empirical Analysis
Feb 2011
This paper attempts to shed light on the over-investment debate by investigating listed firms in China. Firms with higher level of fixed asset holding, higher level of overhead expenses, and being...
Provided by Munich Personal Repec Archive
-
White Papers
Longevity Risk And Capital Markets: The 2009-2010 Update
Feb 2011
Longevity risk and related capital market solutions have grown increasingly important in recent years, both in academic research and in the markets the authors refer to as the new Life Markets,...
Provided by Munich Personal Repec Archive
-
White Papers
Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?
Mar 2009
The authors investigate whether individuals' experiences of macro-economic outcomes have long-term effects on their risk attitudes, as often suggested for the generation that experienced the Great...
Provided by National Bureau of Economic Research
-
White Papers
The Long-Run Risks Model And Aggregate Asset Prices: An Empirical Assessment
Mar 2009
The long-run risks model of asset prices explains stock price variation as a response to persistent fluctuations in the mean and volatility of aggregate consumption growth, by a representative...
Provided by National Bureau of Economic Research
-
White Papers
Sunk Costs And Risk-Based Barriers To Entry
Feb 2009
In merger analysis and other antitrust settings, risk is often cited as a potential barrier to entry. But there is little consensus as to the kinds of risk that matter - systematic versus...
Provided by National Bureau of Economic Research
-
White Papers
Risk Preferences In The PSID: Individual Imputations And Family Covariation
Feb 2009
Survey measures of preference parameters provide a means for accounting for otherwise unobserved heterogeneity. This paper presents measures of relative risk tolerance based on responses to survey...
Provided by National Bureau of Economic Research
-
White Papers
A Political Economy Theory Of Partial Decentralization
Dec 2008
The authors revisit the classic problem of tax competition in the context of federal nations, and derive a positive theory of partial decentralization. A capital poor median voter wants to use...
Provided by National Bureau of Economic Research
-
White Papers
Risk Bearing, Implicit Financial Services And Specialization In The Financial Industry
Dec 2008
This paper makes three points regarding the proper measurement of the output of financial intermediaries. Two of them concern the measurement of nominal financial output, especially banking...
Provided by National Bureau of Economic Research
-
White Papers
Dynamic Model Of Credit Risk In Relationship Lending: A Game-Theoretic Real Options Approach
Mar 2009
The authors develop a dynamic credit risk model for the case that banks compete to collect their loans from a firm falling in danger of bankruptcy. They apply a game-theoretic real options...
Provided by Bank of Japan
-
White Papers
A Tale Of Three Countries, Dispersed Ownership And Greater Risk Taking Levels
Jan 2011
This paper is aimed at explaining why higher concentrations of the ownership of large firms do not necessarily and automatically facilitate lower risk taking levels - where there is scope for the...
Provided by Munich Personal Repec Archive
-
White Papers
Risk Taking And Gender In Hierarchies
Nov 2008
In a labor market hierarchy, promotions are affected by the noisiness of information about the candidates. The author studies the hypothesis that males are more risk taking than females, and its...
Provided by National Bureau of Economic Research
-
White Papers
Is Poland At Risk Of A Boom-And-Bust Cycle In The Run-Up To Euro Adoption?
Oct 2008
The authors ask whether Poland is at risk of the boom-bust problem that has afflicted economies around the time of euro adoption. The answer is, inevitably, is mixed. On the one hand the fact that...
Provided by National Bureau of Economic Research
-
White Papers
Economics Of Traceability For Mitigation Of Food Recall Costs
Nov 2007
Traceability of food products and particularly meats is increasingly advocated as a means to provide consumer confidence in credence attributes (e.g., range fed, organic, country of origin) as...
Provided by Munich Personal Repec Archive
-
White Papers
Income And Consumption Smoothing And Welfare Gains Across Pacific Island Countries: The Role Of Remittances And Foreign Aid
Mar 2011
The authors examine the potential welfare gains and channels of income smoothing for Pacific Island Countries (PICs) and find that, under full risk sharing overall welfare gains across all PICs...
Provided by Munich Personal Repec Archive
-
White Papers
Derivatives Usage In Risk Management By Turkish Non-financial Firms And Banks: A Comparative Study
Mar 2011
The purpose of this paper to compare the previous research about how the nonfinancial companies listed in the Istanbul Stock Exchange (ISE) and deposit banks in Turkey have disclosed information...
Provided by Munich Personal Repec Archive
-
White Papers
Evaluating And Managing Systemic Risk In The European Union
Feb 2011
The financial crisis has exposed the weaknesses in national and international economies, the disruption of the financial systems all over the world. The aim of this paper is to point out the...
Provided by Munich Personal Repec Archive
-
White Papers
Counterparty Risk Subject To ATE
Jan 2011
Credit ATE (Additional Termination Event) clause is a counterparty risk mitigant that allows banks to terminate and close out bilateral derivative contracts if the credit rating of the...
Provided by Munich Personal Repec Archive
-
White Papers
Credit Risk Tools: An Overview
Jan 2011
This paper presents several Credit Risk tools which have been developed for the Credit Derivatives Risk Management. The models used in this context are suitable for the pricing,...
Provided by Munich Personal Repec Archive
-
White Papers
Quality Cost And Failure Risk In The Choice Of Single Versus Multiple Sourcing
Jan 2011
The advantage of multiple sourcing to protect against supplier failures arising from undependable (or even unsafe) products due to latent defects is examined using a quality-cost model of supply...
Provided by Munich Personal Repec Archive
-
White Papers
The Burden Of The Nondiversifiable Risk Of Entrepreneurship
Aug 2008
In the standard venture capital contract, entrepreneurs have a large fraction of equity ownership in the companies they found and are paid a sub-market salary by the investors who provide the...
Provided by National Bureau of Economic Research
-
White Papers
Conflict And Deterrence Under Strategic Risk
Apr 2008
The authors examine the mechanics of deterrence and intervention when fear is a motive for conflict. They contrast results obtained in a complete information setting, where coordination is easy,...
Provided by National Bureau of Economic Research
-
Whitepapers
White Paper "Profiting from PCI Compliance"
Apr 2011
Working together, the major payment card providers have developed a set of data security standards and created a council for enforcing them. Although the Payment Card Industry Data Security...
Provided by IBM
-
Whitepapers
Case Study - Hardware retailer increases mobile messaging security and flexibility while improving integration with IBM Lotus
Apr 2011
This document discusses one company's decision to upgrade to IBM® Lotus® Notes®. Numerous feature improvements, such as increased mobile security for virtual private network (VPN) connections,...
Provided by IBM
-
White Papers
Arbitrage-free Limit Order Books And The Pricing Of Order Flow Risk
Mar 2008
This paper builds on the landmark contribution of Glosten (1994) by treating the determination of limit order supply schedules as an exercise in asset pricing theory with the possible sizes of...
Provided by National Bureau of Economic Research
-
White Papers
Note On The Cross-section Of Foreign Currency Risk Premia And Consumption Growth Risk
Nov 2010
The U.S. consumption growth beta of an investment strategy that goes long in high interest rate currencies and short in low interest rate currencies is large and significant. The price of...
Provided by National Bureau of Economic Research
-
White Papers
Post-Crisis Bank Liquidity Risk Management Disclosure
Dec 2010
This paper seeks to investigate what post crisis principles; banks have taken in a bid to manage liquidity risk. Its basis is founded on the ground that, the financial liquidity market was greatly...
Provided by Munich Personal Repec Archive
-
White Papers
Just Luck: An Experimental Study Of Risk Taking And Fairness
Aug 2010
Choices involving risk significantly affect the distribution of income and wealth in society. This paper reports the results of the first experiment, to the knowledge, to study fairness views...
Provided by Munich Personal Repec Archive
-
White Papers
Ambiguous Information And Market Entry: An Experimental Study
Sep 2010
The authors study experimentally how entry into a market with uncertain capacity is affected by the type of information potential entrants has available. The focus is on behavior in a two-market...
Provided by Munich Personal Repec Archive
-
White Papers
Mortality Risks, Health Endowments, And Parental Investments In Infancy: Evidence From Rural India
Nov 2007
This paper examines whether increased background mortality risks induce households to make differential health investments in their high-versus low-endowment children. The authors argue that...
Provided by National Bureau of Economic Research
-
White Papers
How Sovereign Is Sovereign Credit Risk?
Dec 2007
The authors study the nature of sovereign credit risk using an extensive sample of CDS spreads for 26 developed and emerging-market countries. Sovereign credit spreads are surprisingly highly...
Provided by National Bureau of Economic Research
-
White Papers
Simulation Of Risk Processes
Sep 2010
This paper is intended as a guide to simulation of risk processes. A typical model for insurance risk, the so-called collective risk model, treats the aggregate loss as having a compound...
Provided by Munich Personal Repec Archive
-
White Papers
Redefining A Role For Central Banks: The Increased Importance Of Central Banks? Roles In The Management Of Liquidity Risks And Macro Prudential Supervision In The Aftermath Of The Financial Crisis
Oct 2010
Over the recent years, it has increasingly been acknowledged that macro prudential policies are not only considered to be "A missing ingredient from the current policy framework", but that there...
Provided by Munich Personal Repec Archive
-
White Papers
Optimal Savings Distortions With Recursive Preferences
Jan 2008
This paper derives an intertemporal optimality condition for economies with private information, focusing on a class of recursive preferences. By comparing it to the situation where agents can...
Provided by National Bureau of Economic Research
-
White Papers
Complementarity And The Measurement Of Individual Risk Tradeoffs: Accounting For Quantity And Quality Of Life Effects
Jan 2008
This paper considers the factors responsible for differences with age in estimates of the wage compensation an individual requires to accept increased occupational fatality risk. The authors...
Provided by National Bureau of Economic Research
-
White Papers
Post-Crisis Bank Liquidity Risk Management Disclosure
Dec 2010
This paper seeks to investigate what post crisis principles; banks have taken in a bid to manage liquidity risk. Its basis is founded on the ground that, the financial liquidity market was greatly...
Provided by Munich Personal Repec Archive
-
White Papers
Note On The Cross-section Of Foreign Currency Risk Premia And Consumption Growth Risk
Nov 2010
The U.S. consumption growth beta of an investment strategy that goes long in high interest rate currencies and short in low interest rate currencies is large and significant. The price of...
Provided by National Bureau of Economic Research
-
White Papers
Arbitrage-free Limit Order Books And The Pricing Of Order Flow Risk
Mar 2008
This paper builds on the landmark contribution of Glosten (1994) by treating the determination of limit order supply schedules as an exercise in asset pricing theory with the possible sizes of...
Provided by National Bureau of Economic Research
-
Whitepapers
Case Study - Hardware retailer increases mobile messaging security and flexibility while improving integration with IBM Lotus
Apr 2011
This document discusses one company's decision to upgrade to IBM® Lotus® Notes®. Numerous feature improvements, such as increased mobile security for virtual private network (VPN) connections,...
Provided by IBM
-
Whitepapers
White Paper "Profiting from PCI Compliance"
Apr 2011
Working together, the major payment card providers have developed a set of data security standards and created a council for enforcing them. Although the Payment Card Industry Data Security...
Provided by IBM
-
White Papers
Conflict And Deterrence Under Strategic Risk
Apr 2008
The authors examine the mechanics of deterrence and intervention when fear is a motive for conflict. They contrast results obtained in a complete information setting, where coordination is easy,...
Provided by National Bureau of Economic Research
-
White Papers
The Burden Of The Nondiversifiable Risk Of Entrepreneurship
Aug 2008
In the standard venture capital contract, entrepreneurs have a large fraction of equity ownership in the companies they found and are paid a sub-market salary by the investors who provide the...
Provided by National Bureau of Economic Research
-
White Papers
Quality Cost And Failure Risk In The Choice Of Single Versus Multiple Sourcing
Jan 2011
The advantage of multiple sourcing to protect against supplier failures arising from undependable (or even unsafe) products due to latent defects is examined using a quality-cost model of supply...
Provided by Munich Personal Repec Archive
-
White Papers
Credit Risk Tools: An Overview
Jan 2011
This paper presents several Credit Risk tools which have been developed for the Credit Derivatives Risk Management. The models used in this context are suitable for the pricing,...
Provided by Munich Personal Repec Archive
-
White Papers
Counterparty Risk Subject To ATE
Jan 2011
Credit ATE (Additional Termination Event) clause is a counterparty risk mitigant that allows banks to terminate and close out bilateral derivative contracts if the credit rating of the...
Provided by Munich Personal Repec Archive
-
White Papers
Evaluating And Managing Systemic Risk In The European Union
Feb 2011
The financial crisis has exposed the weaknesses in national and international economies, the disruption of the financial systems all over the world. The aim of this paper is to point out the...
Provided by Munich Personal Repec Archive
-
White Papers
Derivatives Usage In Risk Management By Turkish Non-financial Firms And Banks: A Comparative Study
Mar 2011
The purpose of this paper to compare the previous research about how the nonfinancial companies listed in the Istanbul Stock Exchange (ISE) and deposit banks in Turkey have disclosed information...
Provided by Munich Personal Repec Archive
-
White Papers
Income And Consumption Smoothing And Welfare Gains Across Pacific Island Countries: The Role Of Remittances And Foreign Aid
Mar 2011
The authors examine the potential welfare gains and channels of income smoothing for Pacific Island Countries (PICs) and find that, under full risk sharing overall welfare gains across all PICs...
Provided by Munich Personal Repec Archive
-
White Papers
Economics Of Traceability For Mitigation Of Food Recall Costs
Nov 2007
Traceability of food products and particularly meats is increasingly advocated as a means to provide consumer confidence in credence attributes (e.g., range fed, organic, country of origin) as...
Provided by Munich Personal Repec Archive
-
White Papers
Is Poland At Risk Of A Boom-And-Bust Cycle In The Run-Up To Euro Adoption?
Oct 2008
The authors ask whether Poland is at risk of the boom-bust problem that has afflicted economies around the time of euro adoption. The answer is, inevitably, is mixed. On the one hand the fact that...
Provided by National Bureau of Economic Research
-
White Papers
Risk Taking And Gender In Hierarchies
Nov 2008
In a labor market hierarchy, promotions are affected by the noisiness of information about the candidates. The author studies the hypothesis that males are more risk taking than females, and its...
Provided by National Bureau of Economic Research
-
White Papers
A Tale Of Three Countries, Dispersed Ownership And Greater Risk Taking Levels
Jan 2011
This paper is aimed at explaining why higher concentrations of the ownership of large firms do not necessarily and automatically facilitate lower risk taking levels - where there is scope for the...
Provided by Munich Personal Repec Archive
-
White Papers
Dynamic Model Of Credit Risk In Relationship Lending: A Game-Theoretic Real Options Approach
Mar 2009
The authors develop a dynamic credit risk model for the case that banks compete to collect their loans from a firm falling in danger of bankruptcy. They apply a game-theoretic real options...
Provided by Bank of Japan
-
White Papers
Attack of the PDF Documents: How Adobe's PDF Format has become one of the top carriers of malware
Mar 2011
PDFs have become one of the most common methods for infecting systems with malware. The PDF standard now supports JavaScript, along with tighter connections into user systems from the Adobe Reader...
Provided by Sophos
-
White Papers
Risk Bearing, Implicit Financial Services And Specialization In The Financial Industry
Dec 2008
This paper makes three points regarding the proper measurement of the output of financial intermediaries. Two of them concern the measurement of nominal financial output, especially banking...
Provided by National Bureau of Economic Research
-
White Papers
A Political Economy Theory Of Partial Decentralization
Dec 2008
The authors revisit the classic problem of tax competition in the context of federal nations, and derive a positive theory of partial decentralization. A capital poor median voter wants to use...
Provided by National Bureau of Economic Research
-
White Papers
Risk Preferences In The PSID: Individual Imputations And Family Covariation
Feb 2009
Survey measures of preference parameters provide a means for accounting for otherwise unobserved heterogeneity. This paper presents measures of relative risk tolerance based on responses to survey...
Provided by National Bureau of Economic Research
-
White Papers
Sunk Costs And Risk-Based Barriers To Entry
Feb 2009
In merger analysis and other antitrust settings, risk is often cited as a potential barrier to entry. But there is little consensus as to the kinds of risk that matter - systematic versus...
Provided by National Bureau of Economic Research
-
White Papers
The Long-Run Risks Model And Aggregate Asset Prices: An Empirical Assessment
Mar 2009
The long-run risks model of asset prices explains stock price variation as a response to persistent fluctuations in the mean and volatility of aggregate consumption growth, by a representative...
Provided by National Bureau of Economic Research
-
White Papers
Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?
Mar 2009
The authors investigate whether individuals' experiences of macro-economic outcomes have long-term effects on their risk attitudes, as often suggested for the generation that experienced the Great...
Provided by National Bureau of Economic Research
-
White Papers
Longevity Risk And Capital Markets: The 2009-2010 Update
Feb 2011
Longevity risk and related capital market solutions have grown increasingly important in recent years, both in academic research and in the markets the authors refer to as the new Life Markets,...
Provided by Munich Personal Repec Archive
-
White Papers
What Drives Fixed Asset Holding And Risk-adjusted Performance Of Corporate In China? An Empirical Analysis
Feb 2011
This paper attempts to shed light on the over-investment debate by investigating listed firms in China. Firms with higher level of fixed asset holding, higher level of overhead expenses, and being...
Provided by Munich Personal Repec Archive
-
White Papers
Fair Value Accounting And Procyclicality: Mitigating Regulatory And Accounting Policy Differences Through Regulatory Structure Reforms And Enforced Self Regulation
Mar 2011
The adoption of international accounting standards is considered to have a vital role in contributing to financial stability. This paper will also illustrate how the implementation of accounting...
Provided by Munich Personal Repec Archive
-
White Papers
Surprising Comparative Properties Of Monetary Models: Results From A New Data Base
Apr 2009
Entrepreneurs face significant non-diversifiable business risks. The authors build a dynamic incomplete markets model of entrepreneurial finance to demonstrate the important implications of...
Provided by National Bureau of Economic Research
-
White Papers
Listing Of Working Papersrisk Matters: The Real Effects Of Volatility Shocks
Apr 2009
This paper shows how changes in the volatility of the real interest rate at which small open emerging economies borrow have a quantitatively important effect on real variables like output,...
Provided by National Bureau of Economic Research
-
White Papers
Wage Risk And Employment Risk Over The Life Cycle
Apr 2009
The authors specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows to distinguish between different sources of risk...
Provided by National Bureau of Economic Research
-
White Papers
U.S. Stock Market Crash Risk, 1926-2006
Apr 2009
This paper applies the Bates methodology to the problem of estimating and filtering time-changed Levy processes, using daily data on U.S. stock market excess returns over 1926-2006. In contrast to...
Provided by National Bureau of Economic Research
-
White Papers
Economic Rationality, Risk Presentation, And Retirement Portfolio Choice
Mar 2011
This paper studies the propensity of individuals to violate implications of expected utility maximization in allocating retirement savings within a compulsory defined contribution retirement plan....
Provided by Munich Personal Repec Archive
-
White Papers
U.S. Stock Market Crash Risk, 1926-2006
Apr 2009
This paper applies the Bates methodology to the problem of estimating and filtering time-changed Levy processes, using daily data on U.S. stock market excess returns over 1926-2006. In contrast to...
Provided by National Bureau of Economic Research
-
White Papers
Wage Risk And Employment Risk Over The Life Cycle
Apr 2009
The authors specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows to distinguish between different sources of risk...
Provided by National Bureau of Economic Research
-
White Papers
Listing Of Working Papersrisk Matters: The Real Effects Of Volatility Shocks
Apr 2009
This paper shows how changes in the volatility of the real interest rate at which small open emerging economies borrow have a quantitatively important effect on real variables like output,...
Provided by National Bureau of Economic Research
-
White Papers
Surprising Comparative Properties Of Monetary Models: Results From A New Data Base
Apr 2009
Entrepreneurs face significant non-diversifiable business risks. The authors build a dynamic incomplete markets model of entrepreneurial finance to demonstrate the important implications of...
Provided by National Bureau of Economic Research
-
White Papers
Fair Value Accounting And Procyclicality: Mitigating Regulatory And Accounting Policy Differences Through Regulatory Structure Reforms And Enforced Self Regulation
Mar 2011
The adoption of international accounting standards is considered to have a vital role in contributing to financial stability. This paper will also illustrate how the implementation of accounting...
Provided by Munich Personal Repec Archive
-
White Papers
What Drives Fixed Asset Holding And Risk-adjusted Performance Of Corporate In China? An Empirical Analysis
Feb 2011
This paper attempts to shed light on the over-investment debate by investigating listed firms in China. Firms with higher level of fixed asset holding, higher level of overhead expenses, and being...
Provided by Munich Personal Repec Archive
-
White Papers
Longevity Risk And Capital Markets: The 2009-2010 Update
Feb 2011
Longevity risk and related capital market solutions have grown increasingly important in recent years, both in academic research and in the markets the authors refer to as the new Life Markets,...
Provided by Munich Personal Repec Archive
-
White Papers
Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking?
Mar 2009
The authors investigate whether individuals' experiences of macro-economic outcomes have long-term effects on their risk attitudes, as often suggested for the generation that experienced the Great...
Provided by National Bureau of Economic Research
-
White Papers
The Long-Run Risks Model And Aggregate Asset Prices: An Empirical Assessment
Mar 2009
The long-run risks model of asset prices explains stock price variation as a response to persistent fluctuations in the mean and volatility of aggregate consumption growth, by a representative...
Provided by National Bureau of Economic Research
-
White Papers
Sunk Costs And Risk-Based Barriers To Entry
Feb 2009
In merger analysis and other antitrust settings, risk is often cited as a potential barrier to entry. But there is little consensus as to the kinds of risk that matter - systematic versus...
Provided by National Bureau of Economic Research
-
White Papers
Risk Preferences In The PSID: Individual Imputations And Family Covariation
Feb 2009
Survey measures of preference parameters provide a means for accounting for otherwise unobserved heterogeneity. This paper presents measures of relative risk tolerance based on responses to survey...
Provided by National Bureau of Economic Research
-
White Papers
A Political Economy Theory Of Partial Decentralization
Dec 2008
The authors revisit the classic problem of tax competition in the context of federal nations, and derive a positive theory of partial decentralization. A capital poor median voter wants to use...
Provided by National Bureau of Economic Research
-
White Papers
Risk Bearing, Implicit Financial Services And Specialization In The Financial Industry
Dec 2008
This paper makes three points regarding the proper measurement of the output of financial intermediaries. Two of them concern the measurement of nominal financial output, especially banking...
Provided by National Bureau of Economic Research
-
White Papers
Attack of the PDF Documents: How Adobe's PDF Format has become one of the top carriers of malware
Mar 2011
PDFs have become one of the most common methods for infecting systems with malware. The PDF standard now supports JavaScript, along with tighter connections into user systems from the Adobe Reader...
Provided by Sophos
-
White Papers
Dynamic Model Of Credit Risk In Relationship Lending: A Game-Theoretic Real Options Approach
Mar 2009
The authors develop a dynamic credit risk model for the case that banks compete to collect their loans from a firm falling in danger of bankruptcy. They apply a game-theoretic real options...
Provided by Bank of Japan
-
White Papers
A Tale Of Three Countries, Dispersed Ownership And Greater Risk Taking Levels
Jan 2011
This paper is aimed at explaining why higher concentrations of the ownership of large firms do not necessarily and automatically facilitate lower risk taking levels - where there is scope for the...
Provided by Munich Personal Repec Archive
-
White Papers
Risk Taking And Gender In Hierarchies
Nov 2008
In a labor market hierarchy, promotions are affected by the noisiness of information about the candidates. The author studies the hypothesis that males are more risk taking than females, and its...
Provided by National Bureau of Economic Research
-
White Papers
Is Poland At Risk Of A Boom-And-Bust Cycle In The Run-Up To Euro Adoption?
Oct 2008
The authors ask whether Poland is at risk of the boom-bust problem that has afflicted economies around the time of euro adoption. The answer is, inevitably, is mixed. On the one hand the fact that...
Provided by National Bureau of Economic Research
-
White Papers
Economics Of Traceability For Mitigation Of Food Recall Costs
Nov 2007
Traceability of food products and particularly meats is increasingly advocated as a means to provide consumer confidence in credence attributes (e.g., range fed, organic, country of origin) as...
Provided by Munich Personal Repec Archive
-
White Papers
Income And Consumption Smoothing And Welfare Gains Across Pacific Island Countries: The Role Of Remittances And Foreign Aid
Mar 2011
The authors examine the potential welfare gains and channels of income smoothing for Pacific Island Countries (PICs) and find that, under full risk sharing overall welfare gains across all PICs...
Provided by Munich Personal Repec Archive
-
White Papers
Derivatives Usage In Risk Management By Turkish Non-financial Firms And Banks: A Comparative Study
Mar 2011
The purpose of this paper to compare the previous research about how the nonfinancial companies listed in the Istanbul Stock Exchange (ISE) and deposit banks in Turkey have disclosed information...
Provided by Munich Personal Repec Archive
-
White Papers
Evaluating And Managing Systemic Risk In The European Union
Feb 2011
The financial crisis has exposed the weaknesses in national and international economies, the disruption of the financial systems all over the world. The aim of this paper is to point out the...
Provided by Munich Personal Repec Archive
-
White Papers
Counterparty Risk Subject To ATE
Jan 2011
Credit ATE (Additional Termination Event) clause is a counterparty risk mitigant that allows banks to terminate and close out bilateral derivative contracts if the credit rating of the...
Provided by Munich Personal Repec Archive
-
White Papers
Credit Risk Tools: An Overview
Jan 2011
This paper presents several Credit Risk tools which have been developed for the Credit Derivatives Risk Management. The models used in this context are suitable for the pricing,...
Provided by Munich Personal Repec Archive
-
White Papers
Quality Cost And Failure Risk In The Choice Of Single Versus Multiple Sourcing
Jan 2011
The advantage of multiple sourcing to protect against supplier failures arising from undependable (or even unsafe) products due to latent defects is examined using a quality-cost model of supply...
Provided by Munich Personal Repec Archive
-
White Papers
The Burden Of The Nondiversifiable Risk Of Entrepreneurship
Aug 2008
In the standard venture capital contract, entrepreneurs have a large fraction of equity ownership in the companies they found and are paid a sub-market salary by the investors who provide the...
Provided by National Bureau of Economic Research
-
White Papers
Conflict And Deterrence Under Strategic Risk
Apr 2008
The authors examine the mechanics of deterrence and intervention when fear is a motive for conflict. They contrast results obtained in a complete information setting, where coordination is easy,...
Provided by National Bureau of Economic Research
-
Whitepapers
White Paper "Profiting from PCI Compliance"
Apr 2011
Working together, the major payment card providers have developed a set of data security standards and created a council for enforcing them. Although the Payment Card Industry Data Security...
Provided by IBM
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Whitepapers
Case Study - Hardware retailer increases mobile messaging security and flexibility while improving integration with IBM Lotus
Apr 2011
This document discusses one company's decision to upgrade to IBM® Lotus® Notes®. Numerous feature improvements, such as increased mobile security for virtual private network (VPN) connections,...
Provided by IBM
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White Papers
Arbitrage-free Limit Order Books And The Pricing Of Order Flow Risk
Mar 2008
This paper builds on the landmark contribution of Glosten (1994) by treating the determination of limit order supply schedules as an exercise in asset pricing theory with the possible sizes of...
Provided by National Bureau of Economic Research
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White Papers
Note On The Cross-section Of Foreign Currency Risk Premia And Consumption Growth Risk
Nov 2010
The U.S. consumption growth beta of an investment strategy that goes long in high interest rate currencies and short in low interest rate currencies is large and significant. The price of...
Provided by National Bureau of Economic Research
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White Papers
Post-Crisis Bank Liquidity Risk Management Disclosure
Dec 2010
This paper seeks to investigate what post crisis principles; banks have taken in a bid to manage liquidity risk. Its basis is founded on the ground that, the financial liquidity market was greatly...
Provided by Munich Personal Repec Archive
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White Papers
Complementarity And The Measurement Of Individual Risk Tradeoffs: Accounting For Quantity And Quality Of Life Effects
Jan 2008
This paper considers the factors responsible for differences with age in estimates of the wage compensation an individual requires to accept increased occupational fatality risk. The authors...
Provided by National Bureau of Economic Research
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White Papers
Optimal Savings Distortions With Recursive Preferences
Jan 2008
This paper derives an intertemporal optimality condition for economies with private information, focusing on a class of recursive preferences. By comparing it to the situation where agents can...
Provided by National Bureau of Economic Research
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White Papers
Redefining A Role For Central Banks: The Increased Importance Of Central Banks? Roles In The Management Of Liquidity Risks And Macro Prudential Supervision In The Aftermath Of The Financial Crisis
Oct 2010
Over the recent years, it has increasingly been acknowledged that macro prudential policies are not only considered to be "A missing ingredient from the current policy framework", but that there...
Provided by Munich Personal Repec Archive
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White Papers
Simulation Of Risk Processes
Sep 2010
This paper is intended as a guide to simulation of risk processes. A typical model for insurance risk, the so-called collective risk model, treats the aggregate loss as having a compound...
Provided by Munich Personal Repec Archive
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White Papers
How Sovereign Is Sovereign Credit Risk?
Dec 2007
The authors study the nature of sovereign credit risk using an extensive sample of CDS spreads for 26 developed and emerging-market countries. Sovereign credit spreads are surprisingly highly...
Provided by National Bureau of Economic Research
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White Papers
Mortality Risks, Health Endowments, And Parental Investments In Infancy: Evidence From Rural India
Nov 2007
This paper examines whether increased background mortality risks induce households to make differential health investments in their high-versus low-endowment children. The authors argue that...
Provided by National Bureau of Economic Research
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White Papers
Ambiguous Information And Market Entry: An Experimental Study
Sep 2010
The authors study experimentally how entry into a market with uncertain capacity is affected by the type of information potential entrants has available. The focus is on behavior in a two-market...
Provided by Munich Personal Repec Archive
