Consulta: subjectFacets:"G1"
Registros recuperados: 11
Data/hora: 11/06/2024 03:55:30

Risk Diversification and Tax Competition: The Influence of Risk Correlations and Tax Provisions on Tax Competition
Provedor de dados: 31
Autores: Berndt,   Markus; Reichl,   Bettina.
From standard-portfolio-models the authors derive demand elasticities for risky assets, and combine the results with a simple non-cooperative model of tax competition between capital importing countries. They find that tax rates resulting from tax competition depend heavily on the correlations of capital market indices. If investment alternatives are not correlated, the outcome of both tax competition and a cooperative solution of tax harmonization are identical. The results suggest regional cooperation among capital importing countries. Compared to the exemption method provisions like tax sparing aggravates the harms of tax competition. Die Autoren leiten aus dem Standard-Portfolio-Modell Nachfrageelastizitäten nach riskanten Anlagealternativen her und...
Tipo: Working or Discussion Paper
Palavras-chave: Public Economics; H3; G1.
Ano: 2000
URL: http://purl.umn.edu/26215

VOLATILITY SPILLOVERS BETWEEN FOREIGN EXCHANGE, COMMODITY AND FREIGHT FUTURES PRICES: IMPLICATIONS FOR HEDGING STRATEGIES
Provedor de dados: 31
Autores: Haigh,   Michael S.; Holt,   Matthew T.
In many studies the assumption is made that traders only encounter one type of price risk. In reality, however, traders are exposed to multiple price risks, and often have several relevant derivative instruments available with which to hedge price uncertainty. In this study, commodity, foreign exchange, and freight futures contracts are analyzed for their effectiveness in reducing price uncertainty for international grain traders. A theoretical model is developed for a representative European importer to depict a realistic trading problem encountered by an international grain trading corporation exposed to more than one type of price risk.  The traditional method of estimating hedge ratios by Ordinary Least Squares (OLS) is compared to the Seemingly...
Tipo: Working or Discussion Paper
Palavras-chave: Hedging; Multivariate GARCH; Foreign exchange; Freight and commodity futures; Marketing; F3; C3; G1.
Ano: 1999
URL: http://purl.umn.edu/23997

Do the technical indicators reward chartists? A study on the stock markets of China, Hong Kong and Taiwan
Provedor de dados: 31
Autores: Wong,   Wing-Keung; Du,   Jun; Chong,   Terence Tai-Leung.
This paper studies the profitability of applying technical analysis that signals the entry and exit from the stock market in three Chinese stock markets - the Shanghai, Hong Kong and Taiwan Stock Exchanges. The Simple Moving Average (MA) and its extensions, Exponential MA, Dual MA, Triple MA, MACD and TRIX for both long and short strategies are examined. Applying the trading signals generated by the MA family to the Greater China markets, significantly positive returns are generated, which outperform the buy-and-hold strategy. The cumulative wealth obtained also surpasses that of the buy-and-hold strategy regardless of transaction costs. In addition, we study the performance of the MA family before and after the 1997 Asian Financial Crisis and find that...
Tipo: Journal Article
Palavras-chave: Technical analysis; Moving Average; Buy-and-hold strategy; Financial Economics; G1; C0.
Ano: 2005
URL: http://purl.umn.edu/50272

On the Realized Volatility of the ECX CO2 Emissions 2008 Futures Contract: Distribution, Dynamics and Forecasting
Provedor de dados: 31
Autores: Chevallier,   Julien; Benoit,   Sevi.
The recent implementation of the EU Emissions Trading Scheme (EU ETS) in January 2005 created new financial risks for emitting firms. To deal with these risks, options are traded since October 2006. Because the EU ETS is a new market, the relevant underlying model for option pricing is still a controversial issue. This article improves our understanding of this issue by characterizing the conditional and unconditional distributions of the realized volatility for the 2008 futures contract in the European Climate Exchange (ECX), which is valid during Phase II (2008-2012) of the EU ETS. The realized volatility measures from naive, kernel-based and subsampling estimators are used to obtain inferences about the distributional and dynamic properties of the ECX...
Tipo: Working or Discussion Paper
Palavras-chave: CO2 Price; Realized Volatility; HAR-RV; GARCH; Futures Trading; Emissions Markets; EU ETS; Intraday data; Forecasting; Environmental Economics and Policy; C5; G1; Q4.
Ano: 2009
URL: http://purl.umn.edu/55834

Deposit Collectors
Provedor de dados: 31
Autores: Ashraf,   Nava; Karlan,   Dean S.; Yin,   Wesley.
Informal lending and savings institutions exist around the world, and often include regular door-to-door deposit collection of cash. Some banks have adopted similar services in order to expand access to banking services in areas that lack physical branches. Using a randomized control trial, we investigate determinants of participation in a deposit collection service and evaluate the impact of offering the service for micro-savers of a rural bank in the Philippines. Of 137 individuals offered the service in the treatment group, 38 agreed to sign-up, and 20 regularly used the service. Take-up is predicted by distance to the bank (a measure of transaction costs of depositing without the service) as well as being married (a suggestion that household bargaining...
Tipo: Working or Discussion Paper
Palavras-chave: Savings behavior; Microfinance; Field experiment; Savings mobilization; Deposit collector; Financial Economics; D1; D9; G1; G2; O1.
Ano: 2005
URL: http://purl.umn.edu/28502

INCORPORATING RISK PREFERENCES INTO REAL OPTIONS MODELS
Provedor de dados: 31
Autores: Isik,   Murat.
This paper develops a framework to link the expected utility analysis to real options models in order to capture the joint effects of risk aversion and irreversibility associated with real investments.  It aims at modifying the theory of investment under uncertainty by incorporating decision makers' risk preferences and allows explicitly analyzing the impacts of risk aversion, uncertainty and irreversibility on decisions such as investment and resource allocations. It addresses the shortcomings of the commonly used expected utility and investment under uncertainty models be generalizing the theory of irreversible investment under uncertainty by allowing for risk-averse investors. We found that uncertainty, irreversibility and risk aversion are important...
Tipo: Conference Paper or Presentation
Palavras-chave: Expected utility; Investment under uncertainty; Irreversibility; Real options; Risk aversion; Risk and Uncertainty; D81; G1.
Ano: 2004
URL: http://purl.umn.edu/20027

Commodity Exchange and Institutional Changes:   Case of Iranian Agricultural Commodity Exchange
Provedor de dados: 31
Autores: Soltanpour,   Yazdan.
In this study, an attempt is to figure out the institutional changes that initiate the agricultural commodity exchange (ACE). To assess the affecting factors, new institutional economics approach has been chosen. The framework consisting of four levels of social analysis introduced by Oliver E. Williamson is used to analyze the social environment, institutional rules, institutional arrangements and finally the agency level economics (Neo-classical economics). Regarding this framework, the institutional changes that have initiated the Iranian ACE is analyzed and its constraints to further improvement are discussed.
Tipo: Conference Paper or Presentation
Palavras-chave: Agricultural Commodity Exchange; Institutional economics; Iran; Agricultural and Food Policy; Institutional and Behavioral Economics; Political Economy; G1; O3; L1.
Ano: 2010
URL: http://purl.umn.edu/90825

INVESTIGATING RAPESEED PRICE VOLATILITIES IN THE COURSE OF THE FOOD CRISIS
Provedor de dados: 31
Autores: Busse,   Stefan; Brümmer,   Bernhard; Ihle,   Rico.
C2_3
Tipo: Conference Paper or Presentation
Palavras-chave: Multivariate GARCH; MATIF; Rapeseed; Crude oil; Volatilities; Food crisis; Demand and Price Analysis; Research Methods/ Statistical Methods; C32; E44; G1; Q11; Q13; Q49.
Ano: 2010
URL: http://purl.umn.edu/93957

1996 PRICING PERFORMANCE OF MARKET ADVISORY SERVICES FOR CORN AND SOYBEANS
Provedor de dados: 31
Autores: Jackson,   Thomas E.; Irwin,   Scott H.; Good,   Darrel L.
The purpose of this research report is to present an evaluation of advisory service pricing performance in 1996 for corn and soybeans. Specifically, the average price received by a subscriber to an advisory service is calculated for corn and soybean crops harvested in 1996. The average net advisory price across all 26 corn programs is $2.63 per bushel. The range of net advisory prices for corn is quite large, with a minimum of $2.08 per bushel and a maximum of $3.12 per bushel. The average net advisory price across all 24 soybean programs is $7.27 per bushel. As with corn, the range of net advisory prices for soybeans is substantial, with a minimum of $6.80 per bushel and a maximum of $7.80 per bushel.
Tipo: Working or Discussion Paper
Palavras-chave: Agricultural Market Advisory Services; G1; D8; D7; D4; G2; H4; H8; Q1; Z1; Marketing.
Ano: 1998
URL: http://purl.umn.edu/14787

1995 PRICING PERFORMANCE OF MARKET ADVISORY SERVICES FOR CORN AND SOYBEANS
Provedor de dados: 31
Autores: Jackson,   Thomas E.; Irwin,   Scott H.; Good,   Darrel L.
The purpose of this research report is to present an evaluation of advisory service pricing performance in 1995 for corn and soybeans. Specifically, the average price received by a subscriber to an advisory service is calculated for corn and soybean crops harvested in 1995. The average net advisory price across all 25 corn programs is $3.04 per bushel. The range of net advisory prices for corn is quite large, with a minimum of $2.34 per bushel and a maximum of $3.81 per bushel.  The average net advisory price across all 25 soybean programs is $6.61 per bushel.  As with corn, the range of net advisory prices for soybeans is substantial, with a minimum of $5.75 per bushel and a maximum of $7.92 per bushel.
Tipo: Working or Discussion Paper
Palavras-chave: Agricultural Market Advisory Service (AgMAS) Project; D4; D7; D8; G1; G2; H4; H8; Q1; Z1; Marketing.
Ano: 1997
URL: http://purl.umn.edu/14790

Local Geography of Row-Crop Quality Land  and Cropland Cash Rental Rates
Provedor de dados: 31
Autores: Du,   Xiaodong; Hennessy,   David A.
While farmland rental markets are likely to be spatially differentiated, the fine spatial structure of row-crop quality land should have a significant effect on cash rent determination. This study provides a rigorous empirical understanding of the effect of land spatial heterogeneity on cash rental rates. The lacunarity index is employed to measure spatial heterogeneity of land quality, which is built directly upon a soil quality measure, the land parcel’s corn suitability rating index (CSR). A panel data random effect model is applied on annual survey data of farmland cash rental rates of Iowa for 1987-2009. As expected, land spatial heterogeneity has a statistically significant and negative effect on local cash rent rates. The effect’s origin warrants...
Tipo: Conference Paper or Presentation
Palavras-chave: Land spatial heterogeneity; Rental market; Agricultural Finance; C5; G1; Q1.
Ano: 2011
URL: http://purl.umn.edu/103450