An Econometric Model of Credit Spreads with Rebalance, ARCH, and Jump Effects In this paper, we examine the dynamic behavior of credit spreads on corporate bond portfolios. We propose an econometric model of credit spreads that incorporates portfolio rebalancing, the near unit root property of spreads, the autocorrelation in spread changes, the ARCH conditional heteroscedasticity, jumps, and la...

A common characteristic of basic material manufacturers (which account for 85% of all industrial energy use) and of cleantech manufacturers is that they are price-takers in their input and output markets. Variability in those prices has implications for how much a manufacturer should invest in three fundamental types of process improvement. Input price variability reduces the value of improving...

The protein synthesis machineries of two distinct phyla of the Animal kingdom, insects of Arthropoda and mammals of Chordata, have different preferences for how to best encode proteins. Nevertheless, arboviruses (arthropod-borne viruses) are capable of infecting both mammals and insects just like arboviruses that use insect vectors to infect plants. These organisms have evolved carefully balanc...

This paper analyzes the impact of alternative policy scenarios in the aftermath of the financial crisis. The policy challenges that are considered cover a broad range of issues—from securing a sound financial sector and sustaining public investments to supporting future productivity developments, avoiding protectionist policies that would decrease the degree of competition in goods and labor ma...

The green economy is viewed as a cost-effective means of achieving sustainability around the globe, and recent study inferred nexus between fiscal imbalances economic growth based on E-7 economies data. This paper attempts to answer how spending ensures stabilizes in economies. findings highlighted mechanism viability for growth. More specifically, results showed that extends Brazil with 30%, C...

In the presence of negative monetary-policy rates and a zero lower bound on deposit rates, banks that are more exposed to central banks’ asset-purchase programs reduce their lending real economy by than counterparts. When face customer an asset swap between securities reserves reduces net worth as cost holding cannot be matched with reduction in funding. Exploiting euro-area syndicated data Ger...

Power systems normally operate at their stable operating conditions where the power supply and demand are balanced. In emergency situations, the operators proceed to cut a suitable amount of loads to rebalance the supply-demand and hopefully stabilize the system. This traditional emergency control scheme results in interrupted service with severely economic damages to customers. In order to pro...

ISSUE: Historic increases in prescription drug prices and spending are contributing to unsustainable health care costs in the United States. There is widespread public support for elected officials to address the problem. GOAL: To document the drivers of high U.S. prescription drug prices and offer a broad range of feasible policy actions. METHODS: Interviews with experts and organizations enga...

We propose a merchant-regulatory framework to promote investment in the European natural gas network infrastructure based on a price cap over two-part tariffs. As suggested by Vogelsang (2001) and Hogan et al. (2010), a profit maximizing network operator facing this regulatory constraint will intertemporally rebalance the variable and fixed part of its two-part tariff so as to expand the conges...

The paper addresses some theoretical and practical aspects of data mining, focusing on predictive data mining, where two central types of prediction problems are discussed: classification and regression. Further accent is made on predictive data mining, where the time-stamped data greatly increase the dimensions and complexity of problem solving. The main goal is through processing of data (rec...