Title:Are there Any Reliable Leading Indicators for US Inflation and GDP growth?
Author(s):BANERJEE, Anindya; MARCELLINO, MassimilianoDate:2006Type of Publication:ArticleAbstract:In this paper, we evaluate the relative merits of three alternative approaches to extracting information from a large data set for forecasting, namely, the use of an automated model selection procedure, the adoption of a ...
Title:Asset Based Unemployment Insurance
Author(s):RENDAHL, PontusDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper studies a model of optimal redistribution policies in which agents
face unemployment risk and in which savings may provide partial self-insurance. Moral
hazard arises as job search effort is unobservable. The ...
Title:Asset Commonality, Debt Maturity and Systemic Risk
Author(s):ALLEN, Franklin; BABUS, Ana; CARLETTI, ElenaDate:2010-11-20Type of Publication:Working PaperSeries/Report no.:Wharton Financial Institutions CenterAbstract:We develop a model where financial institutions swap projects in order to diversify their individual risk. This can lead to two dfferent asset structures. In a clustered structure groups of financial institutions hold ...
Title:Asymmetric Awareness and Moral Hazard
Author(s):AUSTER, SarahDate:2011Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper introduces asymmetric awareness into the classical principal-agent model and discusses the optimal contract between a fully aware principal and an unaware agent. The principal enlarges the agent’s awareness ...
Title:Asymmetric Awareness and Moral Hazzard
Author(s):AUSTER, SarahDate:2012Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper introduces asymmetric awareness into the classical principal-agent model and discusses the optimal contract between a fully aware principal and an unaware agent. The principal enlarges the agent’s awareness ...
Title:Asymptotic Inference on Cointegrating Rank in Partial Systems
Author(s):HARBO, Ingrid; JOHANSEN, Soren; NIELSEN, Bent; RAHBEK, AndersDate:1998Type of Publication:ArticleAbstract:The likelihood ratio test for cointegrating rank is analyzed for partial (or conditional) systems in the vector autoregressive error-correction model. Under the assumption of weak exogeneity for the cointegrating parameters, ...