Results 11 to 20 of about 32,956 (260)

Asset pricing and the carbon beta of externalities [PDF]

Journal of Environmental Economics and Management, 2021
Climate policy needs to set incentives for actors who face imperfect, distorted markets and large uncertainties about the costs and benefits of abatement. Investors price uncertain assets according to their expected return and risk (carbon beta). We study carbon pricing and financial incentives in a consumption-based asset pricing model distorted by ...
Ottmar Edenhofer, Kai Lessmann, Ibrahim Tahri   +2 more
openaire   +3 more sources

Risky arbitrage, asset prices, and externalities [PDF]

Economic Theory, 2006
We introduce a no-risky-arbitrage price condition (NRAP) for asset market models allowing both unbounded short sales and externalities such as trading volume. We then demonstrate that NRAP is sufficient for the existence of competitive equilibrium in the presence ofexternalities.
Le Van, Cuong, Page, Frank H., Wooders, Myrna H.   +2 more
openaire   +7 more sources

An Asset-Pricing View of External Adjustment [PDF]

Journal of International Economics, 2008
Recent evidence on the importance of cross-border equity flows calls for a rethinking of the standard theory of external adjustment. We introduce equity holdings and portfolio choice into an otherwise conventional open-economy dynamic equilibrium model. Our model is simple and admits an exact closed-form solution regardless of whether financial markets
Pavlova, Anna, Rigobon, Roberto
openaire   +4 more sources

Asset Prices and Portfolios with Externalities [PDF]

SSRN Electronic Journal, 2019
Abstract Elementary portfolio theory implies that environmentalists optimally hold more shares of polluting firms than non-environmentalists, and that polluting firms attract more investment capital than otherwise identical non-polluting firms through a hedging channel.
Steven D. Baker, Burton Hollifield, Emilio Osambela   +2 more
openaire   +1 more source

Sovereign External Assets and the Resilience of Global Imbalances [PDF]

SSRN Electronic Journal, 2009
Sovereign external assets (SEAs) comprise foreign exchange reserves and sovereign wealth funds (SWFs). The global stock of reserves reached 7 $trn in the second quarter of 2008, but data on SWF are rather elusive. Our estimation puts the SWFs at around 2,5 $trn dollars by 2007 and in the last years they have grown at a high pace, fostered by high ...
Gabriel Enrique Alberola, José María Serena   +1 more
openaire   +1 more source

Valuation effects and the dynamics of net external assets [PDF]

Journal of International Economics, 2010
Abstract ‘Valuation effects’ can imply that the traditional current account is an inaccurate measure of the change in the net foreign asset (NFA) position. This paper uses new developments in the analysis of portfolio choice in general equilibrium to investigate valuation effects in a two-country model.
Devereux, Michael B, Sutherland, Alan
openaire   +2 more sources

Testing External Habits in an Asset Pricing Model [PDF]

SSRN Electronic Journal, 2012
The asset pricing model with external habit formation predicts that the equity premium depends on consumption changes relative to the habit level, implying a response that varies over the business cycle. We test this implication using a VAR model of the U.S.
M Boschi, S d'Addona, A Goenka
openaire   +2 more sources

International Capital Flows, External Assets and Output Volatility [PDF]

SSRN Electronic Journal, 2014
This paper proposes a new perspective on international capital flows and countries'long-run external asset position. Cross-sectional evidence for 84 developing countries shows that over the last three decades countries that have had on average higher volatility of output growth (1) accumulated higher external assets in the long-run and (2) experienced ...
Krause, Michael, Hoffmann, Mathias, Tillmann, Peter   +2 more
openaire   +7 more sources

Assets and school dropout among Roma and Egyptian minority adolescents in Albania

Educational Futures, 2022
Developmental assets are negatively associated with school drop-out of adolescents. This study aimed to explore how environmental assets can be associated with drop-out from school among Roma and Egyptian youth in Albania, during the COVID-19 pandemic ...
Eglantina Dervishi, Fatjona Hysi, Nora Wiium, Desara Agaj   +3 more
doaj  

State asset utilization strategy through strategic asset leasing services: a case study of the Makassar office of information and communication technology management and state property

Jurnal Ilmiah Ilmu Administrasi Publik, 2023
Optimizing the utilization of state assets through strategic asset leasing services is important in the context of effective public resource management. However, to achieve this goal, a systematic and integrated approach is required.
Muhammad Ridwan, Abdul Razak Munir, Wahda Wahda   +2 more
doaj   +1 more source