Sets of Models and Prices of Uncertainty -- by Lars P. Hansen, Thomas J. Sargent
A decision maker constructs a convex set of nonnegative martingales to use as likelihood ratios that represent parametric alternatives to a baseline model and also non-parametric models statistically...
View ArticleMethodological Issues in Analyzing Market Dynamics -- by Ariel Pakes
This paper investigates progress in the development of models capable of empirically analyzing the evolution of industries. It starts with a parallel between the development of empirical frameworks for...
View ArticleIncome-comparison Attitudes in the US and the UK: Evidence from...
Economists have long been aware of utility externalities such as a tendency to compare own income with others'. If welfare losses from income comparisons are significant, any governmental interventions...
View ArticleCan You Have Too Much Grit?
Amy Morin writes in Forbes this week about an interesting new study about grit. The study, is titled "When the going gets tough: Grit predicts costly perseverance." The authors are Gale Lucas, Jonathan...
View ArticleFEDS 2016-013: Fiscal Stimulus and Firms: A Tale of Two Recessions
Christine L. Dobridge | In this paper, I examine the effects of a countercyclical fiscal policy that gave firms additional tax refunds--additional liquidity--at the end of the past two recessions. I...
View ArticleFEDS 2016-012: Heterogeneity and Unemployment Dynamics
Hie Joo Ahn and James D. Hamilton | This paper develops new estimates of flows into and out of unemployment that allow for unobserved heterogeneity across workers as well as direct effects of...
View ArticleCFTC Charges Florida-Based North American Asset Management, LLC, Alexi...
The U.S. Commodity Futures Trading Commission (CFTC) announced the filing of a civil injunctive enforcement action in the U.S. District Court for the Southern District of Florida against Defendants...
View ArticleTABB Group Identifies the Challenges Facing Blockchain In Disrupting The...
The interest in blockchain from the financial community has been tremendous. Ambitions for decentralizing trust, greater transactional transparency, an immutable record, compacting settlement periods,...
View ArticleShenzhen Stock Exchange Promulgates Guidelines For Bond Business And Answers...
Shenzhen Stock Exchange (“SZSE”) recently promulgated the Guidelines for Bond Business No.1 – Listing Pre-approval, Issuance and Listing Business of Public Offering Corporate Bonds, Guidelines for Bond...
View ArticleHometown Fund Management And Gateway Investment Management Services To Launch...
Hometown Fund Management Limited (Cayman Islands) and Gateway Investment Management Services are proud to announce the establishment of the Hometown Dubai Hospitality Fund II Limited. The fund is...
View ArticleHong Kong's Securities And Futures Commission Bans Alice Yim Ping For Three...
The Securities and Futures Commission (SFC) has banned Ms Alice Yim Ping from re-entering the industry for three years from 20 February 2016 to 19 February 2019 (Note 1).read more...
View ArticleU.S. Treasury Secretary Lew Travels To Shanghai, Beijing, Hong Kong
The U.S. Department of the Treasury today announced that Secretary Jacob J. Lew will travel to Shanghai, China for the G-20 Finance Ministers and Central Bank Governors Meeting, followed by visits to...
View ArticleWeekly Announcements â February 22, 2016
Announcing New LSN Cybersecurity, Data Privacy & eDiscovery Law & Policy Sponsored Subject Matter eJournalread more...
View ArticleEuropex Response To Commission Consultation On The "Preparation Of A New...
Europex welcomes the possibility to contribute to the discussion on a review of the EU’s renewable energy legislation and stresses the necessity to fully integrate renewables into the grid and power...
View ArticleSIFMA Joins U.S. And EU Entities Urging TTIP To Include Full Coverage Of...
Today, SIFMA issued the followed joint statement from U.S. and EU trade associations and representative bodies calling for financial services to be fully covered in TTIP to help address market...
View ArticleBC Report Warns Of Gap Between Investor Attitudes And Behaviours Ahead Of...
This RRSP season, the British Columbia Securities Commission (BCSC) is encouraging investors to make smarter decisions and learn more about the role they play when working with an investment advisor....
View ArticleCFTC Staff To Host A Public Roundtable March 3 Regarding The Residual...
The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight and the Office of the Chief Economist will host a public roundtable on March 3, 2016 at 10:00...
View ArticleBunching of numbers in a non-ideal roulette: the key to winning strategies....
Chances of a gambler are always lower than chances of a casino in the case of an ideal, mathematically perfect roulette, if the capital of the gambler is limited and the minimum and maximum allowed...
View ArticleThe noisy voter model on complex networks. (arXiv:1602.06935v1 [physics.soc-ph])
We propose a new analytical method to study stochastic, binary-state models on complex networks. Moving beyond the usual mean-field theories, this alternative approach is based on the introduction of...
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