infonet-economy

In this paper, we give a financial justification, based on no-arbitrage conditions, of the (H)-hypothesis in default time modeling. We also show how the (H)-hypothesis is affected by an equivalent change of probability measure. The main technique used here is the theory of progressive enlargements of filtrations.

Für die Karriere eines Forschers der BWL zählt nur eines: die Zahl der Aufsätze in einigen Wissenschaftsjournalen. Das führt zwar zu viel Transparenz - aber zu immer weniger Wissenschaft und zu einem stärkeren Elfenbeinturm-Denken. Der wichtige Dialog mit der Praxis bleibt auf der Strecke.

We study the effect of civil conflict on social capital, focusing on the experience of Ugandaduring the last decade. Using individual and county-level data, we document large causal effects on trust and ethnic identity of an exogenous outburst of ethnic conflicts in 2002-05. We exploit two waves of survey data from Afrobarometer 2000 and 2008, including information on socioeconomic...

Das Parlament hat das veraltete Recht zur Rechnungslegung überarbeitet. Die Autoren begrüssen die Modernisierung, hadern aber mit der Regelung von stillen Reserven und Konzernrechnung.

We explore gender differences in preferences for competition and risk among children aged 9-12 in Colombia and Sweden, two countries differing in gender equality according to macro indices. We include four types of tasks that vary in gender stereotyping when looking at competitiveness: running, skipping rope, math and word search. We find that boys and girls are equally competitive...

The paper proposes a new estimator for the fixed effects ordered logit model. In contrast to existing methods, the new procedure allows estimating the thresholds. The empirical relevance and simplicity of implementation is illustrated in an application to the effect of unemployment on life satisfaction.