نتایج جستجو برای: cross sectional risk
تعداد نتایج: 1382911 فیلتر نتایج به سال:
This paper studies asset pricing in a setting where idiosyncratic risks in labor productivities are uninsurable due to limited commitment. Firms provide insurance to workers using long-term contracts but neither side can commit to these relationships. Under the optimal contract, sufficiently adverse shocks to worker productivity are uninsured. In general equilibrium, exposure to down-side tail ...
BACKGROUND The global burden of anemia is large especially in sub-Saharan Africa, where HIV is common and lifestyles are changing rapidly with urbanization. The effects of these changes are unknown. Studies of anemia usually focus on pregnant women or children, among whom the burden is greatest. We describe prevalence and risk factors for anemia among rural and urban men and women of all ages i...
To explain the variation in US asset returns in the 20th century, we solve an equilibrium model in which households face housing collateral constraints. An increase in the ratio of housing to human wealth loosens these constraints. It allows for more risk sharing and decreases the rate of return that households require for holding equity. This collateral mechanism can explain the time-variation...
This study examines the timeliness of write-downs taken by U.S. financial institutions during the financial crisis of 2007-2008. The timeliness of write-downs is measured by benchmarking the quarterly accounting write-down schedule with the devaluation schedule implied by credit indices such as the ABX. The results show that accounting write-downs are less timely than the devaluations implied b...
1 Department of Medical Laboratory Sciences, College of Medicine and Health Sciences, Wollo University, Dessie, Ethiopia. 2 Department of Medical Laboratory Sciences, School of Allied Sciences, College of Health Sciences, Addis Ababa University, Addis Ababa, Ethiopia. 3 Department of Medical Microbiology, College of Medicine and Health Sciences, School of Biomedical and Laboratory Sciences, Uni...
We examine the efficiency of using individual stocks or portfolios as base assets to test asset pricing models using cross-sectional data. The literature has argued that creating portfolios reduces idiosyncratic volatility and allows more precise estimates of factor loadings, and consequently risk premia. We show analytically and empirically that smaller standard errors of portfolio beta estima...
OBJECTIVES The aim of this study was to investigate whether reported prevalence of experienced threats, real acts of violence and debilitating fear of violence among Norwegian doctors have increased over the last two decades. DESIGN Repeated cross-sectional survey. SETTING All healthcare levels and medical specialties in Norway. PARTICIPANTS Representative samples of Norwegian doctors in ...
Micro and small enterprises (MSEs) in developing countries are typically considered to be severely credit constrained. Additionally, high business risks may partly explain why capital stocks of MSEs remain low. This article analyzes the determinants of capital stocks of MSEs in poor economies focusing on credit constraints and risk. The analysis is based on a unique, albeit cross-sectional but ...
This paper uses a simple empirical approach to estimate vulnerability to food inadequacy using a cross-section data from the 2001 Timor-Leste Living Standard Measurement Survey. This measurement is based on the assumption that households are exposed to the same kind of shock. We find that the distribution of vulnerability to food inadequacy over education of household head is more significant t...
In this paper, I build a model where financial intermediation slows the flow of capital. Investors optimally learn from intermediary performance to allocate capital toward profitable intermediaries. Intermediaries reach for yield, i.e invest in high tail risk assets, in an attempt to drive flows and reduce liquidation risk. Reaching for yield is stronger among intermediaries with weak opportuni...
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