infonet-economy

AIDS continues to have a devastating effect on developing countries, particularly in Sub-Saharan Africa. The lack of a proven effective vaccine to stop HIV transmission has lead to much of public policy putting an emphasis on information campaigns in order to reduce HIV-prevalence. In this paper we examine the impact of HIV/AIDS-knowledge from two sides. First, we examine to what...

This paper introduces model-based theory building as a feature of system dynamics (SD) with large potential. It presents a systemic approach to actualizing that potential, thereby opening up a new perspective on theory building in the social sciences. The question addressed is if and how SD enables the construction of high-quality theories. This contribution is based on field...

Dynamic financial analysis (DFA) has become an important tool in analyzing the financial situation of insurance companies. Constant development and documentation of DFA tools has occurred during the last years. However, several questions concerning the implementation of DFA systems have not been answered in the DFA literature to date. One such important issue is the consideration of...

Zimmermann, Thomas A.: WTO Dispute Settlement - An Important Trade Policy Instrument; Presentation at the 64th Session of the OECD Steel Committee; Paris (La Défense): Organization for Economic Cooperation and Development (OECD), 22 May 2008 / Präsentation an der 64. Sitzung des OECD Stahlausschusses; Paris (La Défense): Organisation für wirtschaftliche Zusammenarbeit und Entwicklung...

We use Bayesian model averaging to analyze the sample evidence on industry return predictability within the U.S. stock market in the presence of model uncertainty. The posterior analysis shows the importance of in.ation and earnings yield in predicting industry returns. The analysis shows that the out-of-sample performance of the Bayesian approach is, in general, superior to that of...

It is frequently noted that investment funds with a nonnormal return distribution cannot be adequately evaluated using the classic Sharpe ratio. However, recent research compared the Sharpe ratio with other performance measures and found virtually identical rank ordering using hedge fund data. We extend this research by analyzing a large data set of 38,954 funds investing in seven...

Depending on the definition of the tax base, the statutory corporate tax rate implies rather different measures of effective average and marginal tax rates. This paper develops a model of a monopolistically competitive industry with extensive and intensive business investment and shows how these margins respond to changes in average and marginal corporate tax rates. Intensive...