منابع مشابه
On Forest Rotation under Interest Rate Variability
The current literature on optimal forest rotation makes the unrealistic assumption of constant interest rate though harvesting decisions of forest stands are typically subject to relatively long time horizons. We apply the single rotation framework to extend the existing studies to cover the unexplored case of variable interest rate. We show that even in the deterministic case if the current in...
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The facility interest rate is one of the most important macroeconomic variables. The bank facility interest rate is associated with other macro-economic variables, one of which is the bank deposit interest rate. Using the time series data of the 1973-2017 period and the simultaneous equation system, the researchers estimated four equations using the three-stage least squares method.The result o...
متن کاملIdentifying time variability in stock and interest rate dependence
The correlation between stock markets and interest rates has been discussed in numerous studies in the past, with differing results in terms of strength and direction of the relationship. This paper uses models of the multivariate GARCH type which allow for time-variability and regime changes in correlation. All estimated models allowing for timevarying correlation complement each other in iden...
متن کاملWicksellian Theory of Forest Rotation under Interest Rate Variability
The current literature on optimal forest rotation makes the assumption of constant interest rate. However, the irreversible harvesting decisions of forest stands are typically subject to relatively long time horizons over which interest rate do fluctuate. In this paper we apply the Wicksellian single rotation framework to extend the existing studies to cover the unexplored case of variable and ...
متن کاملIrreversible Investment under Interest Rate Variability: New Results
The current extensive literature on irreversible investment decisions makes the assumption of constant interest rate. In this paper we study the impact of interest rate and revenue variability on the decision to carry out an irreversible investment project. Given the generality of the considered valuation problem, we first provide a thorough mathematical characterization of the problem and deve...
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ژورنال
عنوان ژورنال: Journal of International Economics
سال: 1991
ISSN: 0022-1996
DOI: 10.1016/0022-1996(91)90055-b