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This mixed methods study investigates why fewer than one in five impact evaluations integrates a value-for-money analysis of the development intervention being evaluated. This study distills four main insights from combined analysis of 33 semi-structured and unstructured interviews, surveys of 497 policy makers and 16 journal editors, and portfolio analyses of World Bank and worldwide impact evaluations. The study finds that low levels of training in cost data collection and analysis methods, together with a lack of standardization of the value-for-money assumptions (e.g., time horizons, discount rates, and economic or financial cost accounting) limit value-for-money integration into impact evaluations. Further eroding researchers' incentives, demand for cost evidence from the journals that publish impact evaluations is mixed. Ill-defined standards of rigor undermine editors' capacity to evaluate the quality of value-for-money analysis when it is integrated with impact evaluation evidence. Institutional funders of impact evaluations do not consistently demand that cost analysis be integrated into their funded evaluations. This study finds no evidence in support of the myth that policymakers do not demand cost evidence. Rather, it finds that researchers have few ways of knowing what kind of analysis policymakers need and when they need it. Improving the stock of impact evaluators who are cross trained in value-for-money methods, establishing standards in what constitutes rigor in costing, resolving methodological issues, and improving linkages between policymakers and researchers would lead to greater integration of value-for-money methods in impact evaluations.

Cost Accounting --- Cost-Benefit Analysis --- Cost-Effectiveness --- Development Economics and Aid Effectiveness --- Discount Rate --- Impact Evaluation --- Macroeconomics and Economic Growth --- Science and Technology Development --- Standards and Technical Regulations --- Statistical and Mathematical Sciences --- Time Horizon --- Value For Money

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This paper analyzes the drivers and consequences of sudden stops of capital flows. It focuses on the impact of external vulnerability on the depth and length of sudden stop crises. The authors analyze 43 developing and developed countries between 1993 and 2006. They find evidence that external vulnerability not only significantly impacts the probability of a sudden stop crisis, but also prolongs the time it takes for growth to revert to its long-term trend once a sudden stop occurs. Interestingly, external vulnerability does not significantly impact the size of the instantaneous output effect in case of a sudden stop but prompts a cumulative output effect through significantly diminishing the speed of adjustment of output to its trend. This finding implies that countries financing a large part of their absorption externally do not suffer more ferocious output losses in a sudden stop crisis, but take longer to adapt afterward and are hence expected to suffer more protracted crises periods. Compared with previous literature, this paper makes three contributions: (i) it extends the country and time coverage relative to datasets that have previously been used to analyze related topics; (ii) it specifically accounts for time-series autocorrelation; and (iii) it provides an analysis of the adjustment path of economic growth after a sudden stop.

Adjustment dynamics --- Adjustment path --- Annual growth --- Capital flows --- Currencies and Exchange Rates --- Debt Markets --- Descriptive statistics --- Economic Growth --- Economic growth --- Economic policy --- Economic Theory and Research --- Emerging Markets --- Equilibrium --- Exchange rate fluctuations --- Finance and Financial Sector Development --- Financial crisis --- Growth performance --- Growth rate --- Growth rates --- Inequality --- International financial markets --- Investment and Investment Climate --- Macroeconomic Management --- Macroeconomics and Economic Growth --- Poverty Reduction --- Poverty reduction --- Private Sector Development --- Pro-Poor Growth --- Real exchange rate --- Robustness checks --- Speed of adjustment --- Time horizon --- Trade shocks

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The Special Issue “Game Theory” of the journal Mathematics provides a collection of papers that represent modern trends in mathematical game theory and its applications. The works address the problem of constructing and implementation of solution concepts based on classical optimality principles in different classes of games. In the case of non-cooperative behavior of players, the Nash equilibrium as a basic optimality principle is considered in both static and dynamic game settings. In the case of cooperative behavior of players, the situation is more complicated. As is seen from presented papers, the direct use of cooperative optimality principles in dynamic and differential games may bring time or subgame inconsistency of a solution which makes the cooperative schemes unsustainable. The notion of time or subgame consistency is crucial to the success of cooperation in a dynamic framework. In the works devoted to dynamic or differential games, this problem is analyzed and the special regularization procedures proposed to achieve time or subgame consistency of cooperative solutions. Among others, special attention in the presented book is paid to the construction of characteristic functions which determine the power of coalitions in games. The book contains many multi-disciplinary works applied to economic and environmental applications in a coherent manner.

pursuit --- control functions --- integral constraints --- strategies --- value of the game --- decision-making --- game theory --- project management --- differential games --- cooperative differential games --- Time Consistency --- IDP-core --- IDP dominance --- two-sided platform market --- pricing --- Hotelling’s duopoly on the plane --- Nash equilibrium --- optimal location of platforms --- prescribed duration --- characteristic function --- environmental resource management --- pollution control --- discrete-time games --- cooperation --- the core --- linear transformation --- time consistency --- multistage game --- chance moves --- subgame perfect equilibria --- cooperative trajectory --- imputation distribution procedure --- random time horizon --- time until failure --- discounted equilibrium --- weibull distribution --- chen distribution --- equivalence principle --- cooperative game --- satisfaction criteria --- proportional value --- axiomatization --- cooperative stochastic game --- strong subgame consistency --- core --- dynamic games --- multicriteria games --- Nash bargaining solution --- dynamic stability --- rational behavior conditions --- Shapley-Solidarity value --- coalition structure --- potential --- bidding mechanism

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"In this book, two of America's leading economists provide the first integrated treatment of the conceptual, practical, and empirical foundations for credit risk pricing and risk measurement. Masterfully applying theory to practice, Darrel Duffie and Kenneth Singleton model credit risk for the purpose of measuring portfolio risk and pricing defaultable bonds, credit derivatives, and other securities exposed to credit risk. The methodological rigor, scope, and sophistication of their state-of-the-art account is unparalleled, and its singularly in-depth treatment of pricing and credit derivatives further illuminates a problem that has drawn much attention in an era when financial institutions the world over are revising their credit management strategies."--Jacket.

Credit --- Risk management. --- Management. --- Approximation. --- Asset. --- Balance sheet. --- Bankruptcy. --- Basis Point. --- Bond (finance). --- Bond Yield. --- Bond market. --- Bond valuation. --- Broker-dealer. --- Business cycle. --- Calculation. --- Call option. --- Capital market. --- Capital requirement. --- Cash flow. --- Characteristic function (probability theory). --- Coefficient. --- Collateralized debt obligation. --- Conditional probability distribution. --- Counterparty. --- Coupon (bond). --- Coupon. --- Covariance matrix. --- Credit (finance). --- Credit derivative. --- Credit event. --- Credit rating. --- Credit risk. --- Credit spread (options). --- Currency. --- Debt. --- Default Rate. --- Discounts and allowances. --- Diversification (finance). --- Economics. --- Estimation. --- Event of default. --- Face value. --- Financial institution. --- Forward rate. --- Government bond. --- Government debt. --- Hedge (finance). --- High-yield debt. --- Interest rate swap. --- Interest rate. --- Interest-Rate Derivative. --- Investment. --- Investor. --- Issuer. --- Lehman Brothers. --- Leverage (finance). --- Liability (financial accounting). --- Libor. --- Likelihood function. --- Long run and short run. --- Market Value Of Equity. --- Market liquidity. --- Market price. --- Market value. --- Markov chain. --- Markov process. --- Moneyness. --- Parameter. --- Payment. --- Payout. --- Present value. --- Price Change. --- Pricing. --- Probability distribution. --- Probability of default. --- Probability. --- Random variable. --- Rate of return. --- Repurchase agreement. --- Risk management. --- Risk premium. --- Risk-neutral measure. --- Securitization. --- Short rate. --- Short-rate model. --- Skewness. --- Special case. --- Spread option. --- Standard deviation. --- Stochastic volatility. --- Swap (finance). --- Swap rate. --- Tax. --- Time horizon. --- Time series. --- Trader (finance). --- Tranche. --- Valuation (finance). --- Value (economics). --- Variance. --- Yield curve. --- Yield spread. --- Zero-coupon bond.

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This book focuses on the interaction between different energy vectors, that is, between electrical, thermal, gas, and transportation systems, with the purpose of optimizing the planning and operation of future energy systems. More and more renewable energy is integrated into the electrical system, and to optimize its usage and ensure that its full production can be hosted and utilized, the power system has to be controlled in a more flexible manner. In order not to overload the electrical distribution grids, the new large loads have to be controlled using demand response, perchance through a hierarchical control set-up where some controls are dependent on price signals from the spot and balancing markets. In addition, by performing local real-time control and coordination based on local voltage or system frequency measurements, the grid hosting limits are not violated.

History of engineering & technology --- hybrid electricity-natural gas energy systems --- power to gas (P2G) --- low-carbon --- economic environmental dispatch --- trust region method --- Levenberg-Marquardt method --- integrated energy park --- park partition --- double-layer optimal scheduling --- non-cooperative game --- Nash equilibrium --- energy flexibility --- power-to-heat --- multi energy system --- flexible demand --- thermal storage --- electric boiler --- estimation of thermal demand --- integrated energy system --- integrated demand response --- medium- and long-term --- system dynamics --- user decision --- photovoltaic generation --- ultralow-frequency oscillation --- small-signal model --- eigenvalue analysis --- damping torque --- triple active bridge --- integrated energy systems --- DC grid --- isolated bidirectional DC-DC converter --- multiport converter --- combined heat and power system --- wind power uncertainty --- scenario method --- temporal dependence --- optimization scheduling --- hydrogen --- multi-energy systems --- power system economics --- renewable energy generation --- whole system modelling --- local energy management systems --- multi-objective optimization --- rolling time-horizon --- emission abatement strategies --- distributed energy systems --- enhance total transfer capability --- day-ahead thermal generation scheduling --- reduce curtailed wind power --- CO2 emissions --- commercial buildings --- flexibility quantification --- flexibility optimization --- HVAC systems --- network operation --- residential buildings --- dissemination --- renewable energy policy --- renewable energy subsidies --- solar PV --- TSTTC of transmission lines --- sensitivity between TSTTC and reactive power --- reactive power control method --- urban integrated heat and power system --- random fluctuations of renewable energy --- flexibility scheduling --- temperature dynamics of the urban heat network --- heat pumps --- power grid --- gas distribution --- grid expansion planning --- load-profiles --- energy system analysis --- modeling --- multi-energy system --- smart energy system --- self-sufficiency --- dynamic market --- hybrid electricity-natural gas energy systems --- power to gas (P2G) --- low-carbon --- economic environmental dispatch --- trust region method --- Levenberg-Marquardt method --- integrated energy park --- park partition --- double-layer optimal scheduling --- non-cooperative game --- Nash equilibrium --- energy flexibility --- power-to-heat --- multi energy system --- flexible demand --- thermal storage --- electric boiler --- estimation of thermal demand --- integrated energy system --- integrated demand response --- medium- and long-term --- system dynamics --- user decision --- photovoltaic generation --- ultralow-frequency oscillation --- small-signal model --- eigenvalue analysis --- damping torque --- triple active bridge --- integrated energy systems --- DC grid --- isolated bidirectional DC-DC converter --- multiport converter --- combined heat and power system --- wind power uncertainty --- scenario method --- temporal dependence --- optimization scheduling --- hydrogen --- multi-energy systems --- power system economics --- renewable energy generation --- whole system modelling --- local energy management systems --- multi-objective optimization --- rolling time-horizon --- emission abatement strategies --- distributed energy systems --- enhance total transfer capability --- day-ahead thermal generation scheduling --- reduce curtailed wind power --- CO2 emissions --- commercial buildings --- flexibility quantification --- flexibility optimization --- HVAC systems --- network operation --- residential buildings --- dissemination --- renewable energy policy --- renewable energy subsidies --- solar PV --- TSTTC of transmission lines --- sensitivity between TSTTC and reactive power --- reactive power control method --- urban integrated heat and power system --- random fluctuations of renewable energy --- flexibility scheduling --- temperature dynamics of the urban heat network --- heat pumps --- power grid --- gas distribution --- grid expansion planning --- load-profiles --- energy system analysis --- modeling --- multi-energy system --- smart energy system --- self-sufficiency --- dynamic market