Listing 11 - 20 of 48 << page
of 5
>>
Sort by

Book
Asset Bubbles : Re-thinking Policy for the Age of Asset Management
Author:
ISBN: 1498367801 Year: 2015 Publisher: Washington, D.C. : International Monetary Fund,

Loading...
Export citation

Choose an application

Bookmark

Abstract

In distilling a vast literature spanning the rational— irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated (i.e. presumably rational) institutional investors. Candidate explanations for bubble persistence—such as limits to learning, frictional limits to arbitrage, and behavioral errors—seem unsatisfactory as they are inconsistent with the aforementioned trends impacting global capital markets. In lieu of the short-term nature of the asset owner—manager relationship, and the momentum bias inherent in financial benchmarks, I argue that the business risk of asset managers acts as strong motivation for institutional herding and ‘rational bubble-riding.’ Two key policy implications follow. First, procyclicality could intensify as institutional assets under management continue to grow. Second, remedial policies should extend beyond the standard suite of macroprudential and monetary measures to include time-invariant policies targeted at the cause (not just symptom) of the problem. Prominent among these should be reforms addressing principal-agent contract design and the implementation of financial benchmarks.


Book
Identifying Speculative Bubbles : A Two-Pillar Surveillance Framework
Author:
ISBN: 1484398270 Year: 2014 Publisher: Washington, D.C. : International Monetary Fund,

Loading...
Export citation

Choose an application

Bookmark

Abstract

In the aftermath of the global financial crisis, the issue of how best to identify speculative asset bubbles (in real-time) remains in flux. This owes to the difficulty of disentangling irrational investor exuberance from the rational response to lower risk based on price behavior alone. In response, I introduce a two-pillar (price and quantity) approach for financial market surveillance. The intuition is straightforward: while asset pricing models comprise a valuable component of the surveillance toolkit, risk taking behavior, and financial vulnerabilities more generally, can also be reflected in subtler, non-price terms. The framework appears to capture stylized facts of asset booms and busts—some of the largest in history have been associated with below average risk premia (captured by the ‘pricing pillar’) and unusually elevated patterns of issuance, trading volumes, fund flows, and survey-based return projections (reflected in the ‘quantities pillar’). Based on a comparison to past boom-bust episodes, the approach is signaling mounting vulnerabilities in risky U.S. credit markets. Policy makers and regulators should be attune to any further deterioration in issuance quality, and where possible, take steps to ensure the post-crisis financial infrastructure is braced to accommodate a re-pricing in credit risk.


Book
Optimal design of experiments : a case study approach
Authors: ---
ISBN: 9780470744611 9781119974000 9781119974017 9781119976165 9781119976172 0470744618 Year: 2011 Publisher: Hoboken: Wiley,

Loading...
Export citation

Choose an application

Bookmark

Abstract

"This book demonstrates the utility of the computer-aided optimal design approach using real industrial examples. These examples address questions such as the following: How can I do screening inexpensively if I have dozens of factors to investigate? What can I do if I have day-to-day variability and I can only perform 3 runs a day? How can I do RSM cost effectively if I have categorical factors? How can I design and analyze experiments when there is a factor that can only be changed a few times over the study? How can I include both ingredients in a mixture and processing factors in the same study? How can I design an experiment if there are many factor combinations that are impossible to run? How can I make sure that a time trend due to warming up of equipment does not affect the conclusions from a study? How can I take into account batch information in when designing experiments involving multiple batches? How can I add runs to a botched experiment to resolve ambiguities?While answering these questions the book also shows how to evaluate and compare designs. This allows researchers to make sensible trade-offs between the cost of experimentation and the amount of information they obtain. The structure of the book is organized around the following chapters: 1) Introduction explaining the concept of tailored DOE. 2) Basics of optimal design. 3) Nine case studies dealing with the above questions using the flow: description &rarr; design &rarr; analysis &rarr; optimization or engineering interpretation. 4) Summary. 5) Technical appendices for the mathematically curious"


Book
A candidate-set-free algorithm for generating D-optimal split-plot designs
Authors: ---
Year: 2006 Publisher: Antwerp: University of Antwerp. UFSIA. Faculty of applied economics,

Loading...
Export citation

Choose an application

Bookmark

Abstract

Keywords


Book
Le langage C++
Authors: ---
ISBN: 9782744019289 2744019283 Year: 2005 Publisher: Paris: Campuspress,

Loading...
Export citation

Choose an application

Bookmark

Abstract

Keywords


Book
I-optimal versus D-optimal split-plot response surface designs
Authors: ---
Year: 2012 Publisher: Antwerpen UA, Faculty of Applied Economics

Loading...
Export citation

Choose an application

Bookmark

Abstract


Book
A candidate-set-free algorithm for generating D-optimal split-plot designs
Authors: ---
Year: 2006 Publisher: Antwerp UA, Faculty of Applied Economics

Loading...
Export citation

Choose an application

Bookmark

Abstract


Book
D-optimal design of split-split-plot experiments
Authors: ---
Year: 2007 Publisher: Antwerp UA

Loading...
Export citation

Choose an application

Bookmark

Abstract


Book
TREADING THE DEEP
Author:
ISBN: 163195766X 9781631957666 Year: 2021 Publisher: [S.l.] MORGAN JAMES PUBLISHING

Loading...
Export citation

Choose an application

Bookmark

Abstract

The gripping real life account of a soldiers service up through the ranks to lead the "Air Pirates" a battalion of combat experienced soldiers, including his own son, demonstrating how inspired leadership mentors and develops subordinates before, during and after serving in combat.


Book
D-optimal design of split-split-plot experiments.
Authors: ---
Year: 2007 Publisher: Antwerp University of Antwerp. UFSIA. Faculty of applied economics

Loading...
Export citation

Choose an application

Bookmark

Abstract

Keywords

Listing 11 - 20 of 48 << page
of 5
>>
Sort by