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1.
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We examine the safety of government bonds in the presence of Knightian uncertainty amongst financial market participants. In our model, the information insensitivity of g[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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The purpose of this paper is to make a quantitative contribution to the inflation versus price level targeting debate. It considers a policy-maker that can set policy eit[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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3.
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The authors use the efficient hedging methodology for optimal pricing and hedging of equity-linked life insurance contracts whose payoff depends on the performance of sev[...]
2006 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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How can policy-makers avoid large policy errors when they are uncertain about the true model of the economy? The author discusses some recent approaches that can be used [...]
2006 | Text | Staff Working Paper - Document de travail du personnel |
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5.
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The author models the choice between credit cards and home equity lines of credit (HELOCs) within a framework where consumers hold lines of credit as instruments of consu[...]
2005 | Text | Staff Working Paper - Document de travail du personnel |
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6.
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Changes in risk perception have been used in various contexts to explain shorter-term developments in financial markets, as part of a mechanism that amplifies fluctuation[...]
2005 | Text | Staff Working Paper - Document de travail du personnel |
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7.
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Policy-makers in the United States over the past 15 to 20 years seem to have been cautious in setting policy: empirical estimates of monetary policy rules such as Taylor'[...]
2005 | Text | Staff Working Paper - Document de travail du personnel |
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