18 research outputs found
Uma nova esp\ue9cie de Tityus C. L. Koch, 1836 (Scorpiones, Buthidae) do estado da Bahia, Brasil
Aging perceptions and self-efficacy mediate the association between personality traits and depressive symptoms in older adults
Asset prices in an ambiguous economy
Models with ambiguity averse preferences have the potential to explain some pricing anomalies on financial markets. However, the models used in applications make additional assumptions, beyond ambiguity aversion, on the structure of the investor's preferences. Therefore, it is not clear how to disentangle the effect of ambiguity aversion from other features of preferences on equilibrium prices. This paper offers a general theory of asset pricing assuming only ambiguity aversion. Price indeterminacy may result in equilibrium when preferences are not smooth. A set of priors, which is identifiable in all the models used in applications, contains the relevant information to price assets. Ambiguity enriches the standard pricing formula by an additional stochastic discount factor and we calculate its explicit form for various models
(De-)Stabilizing two-country macroeconomic interactions in an estimated model of the U.S. and the Euro Area
(D)AS-AD, Monetary policy, International transmission mechanisms, Wage- and price inflation dynamics, Instability, E12, E31, F41,