Results 141 to 150 of about 10,755,528 (279)

Precautionary Saving against Correlation under Risk and Ambiguitya

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract This paper considers precautionary saving against the correlation between two risky attributes (wealth and health) and investigates how the correlation affects optimal savings under multivariate preferences. The signs of higher‐order cross‐derivatives play a key role in determining the direction of precautionary saving against such correlation.
TAKAO ASANO, YUSUKE OSAKI
wiley   +1 more source

Banking with Inside Money: An Efficiency Analysis

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract We show that banks do not decentralize the first best in a nominal Diamond–Dybvig economy with inside money. Furthermore, state‐contingent deposit contracts do not expand the consumption possibility set to include the first best either. Central banks can improve welfare but only for savers and only with unconventional monetary policy. Finally,
DAVID RIVERO   +1 more
wiley   +1 more source

Finite groups in Axiomatic Index Number Theory [PDF]

open access: yes
In this paper we adopt Group Theory to investigate the symmetry and invariance properties of price index numbers. An alternative treatment is given to the study of the reversibilty axioms, that clarifies their meaning and allows for a conceptual ...
Marco Fattore
core  

Mixing It Up: Inflation at Risk

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract Understanding how risk factors shape the economic outlook is essential for guiding policy decisions. This paper develops a flexible framework that decomposes distributional risk forecasts of macro‐economic variables into underlying contributions and supports the construction of interpretable risk measures.
MAXIMILIAN SCHRÖDER
wiley   +1 more source

Human cerebral arterial morphogenesis explored by 3D microscopic imaging of cleared embryos: Bridging the gap between embryonic and adult anatomy

open access: yesJournal of Anatomy, EarlyView.
We provide a description of human embryonic cerebral arterial development based on whole‐mount immunostaining, tissue clearing, three‐dimensional (3D) light‐sheet microscopy imaging, and anatomically informed virtual segmentation of human embryos. Findings are compared with adult radiological anatomy. We provide a detailed account of the development of
Eimad Shotar   +30 more
wiley   +1 more source

The Evolution of Portfolio Theory Under Risk & Uncertainty: From Mean–Variance to AI‐Augmented Investing

open access: yesJournal of Economic Surveys, EarlyView.
ABSTRACT This article summarizes the evolution of portfolio theory from mean–variance optimization to AI‐augmented investment systems. Rather than treating portfolio models as isolated techniques, it organizes the literature as a sequence of responses to different forms of uncertainty: variance, systematic risk, expected‐return estimation error ...
Xuan Feng, Sofia Yang
wiley   +1 more source

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