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The article assesses the impact of Argentinas main socialpolicy response to the severe economic crisis of 2002. The programwas intended to provide direct income support for families withdependents and whose head had become unemployed because of thecrisis. Counterfactual comparisons are based on a matched subsetof applicants not yet receiving program assistance. Panel dataspanning the crisis are also used. The program reduced aggregateunemployment, though it attracted as many people into the workforcefrom inactivity as it did people who otherwise would have beenunemployed. Although there was substantial leakage to formallyineligible families and incomplete coverage of those who wereeligible, the program did partially compensate many losers fromthe crisis and reduced extreme poverty. 相似文献
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Francesco Debellis Emanuela Rondi Emmanuella Plakoyiannaki Alfredo De Massis 《Journal of World Business》2021,56(1):101144
Despite the proliferation in research efforts, family firm (FF) internationalization scholarship suffers from fragmentation, theoretical limitations, and empirical indeterminacy, leaving important facets unexplored. This article’s purpose is to unpack how this body of research has evolved over time and interfaces international business (IB) theory. We conduct a systematic literature review of relevant theoretical and empirical studies covering the last 30 years of research and comprising 134 articles. Our study contributes to this corpus of knowledge by identifying and discussing four evolutionary waves of FF internationalization research. We further advance an integrative framework that offers a comprehensive understanding of the state-of-the-art as well as promising avenues for future research at the intersection of IB and FFs. 相似文献
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Empirical work in finance is increasingly using Capital IQ's detailed data on capital structure. We compare the Capital IQ credit line data to hand‐collected data for a random sample of firms. Missing values in Capital IQ are prevalent, so the data set underreports the importance of corporate credit lines. When data are reported, Capital IQ often differs from hand‐collected credit line activity. We suggest methods for correcting the errors in the Capital IQ data, note which portions of the data are most reliable, and quantify the effects of Capital IQ's underreporting by examining the tradeoff between cash and lines of credit. 相似文献
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Conditioning variables on consumer choices are conventionally included in demand functions additively. We identify the underlying utility maximisation problem. There must be base consumption levels efficiently set which vary with the conditioning variables. A special case is quasi-homothetic preferences. 相似文献
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In the context of a Brownian filtration and with a fixed finite time horizon, we provide a representation of the penalty term of general dynamic concave utilities (hence of dynamic convex risk measures) by applying the theory of g-expectations. 相似文献
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Maria Giuseppina Bruno Emanuela Camerini Alvaro Tomassetti 《North American actuarial journal : NAAJ》2013,17(4):110-113
Abstract This paper presents and compares different risk classification models for the annual number of claims reported to the insurer. Generalized heterogeneous, zero-inflated, hurdle, and compound frequency models are applied to a sample of an automobile portfolio of a major company operating in Spain. A statistical comparison between models is performed with the help of various specification tests (Score and Hausman tests for nested models, Vuong test or information criteria for nonnested ones). Interesting results about claiming behavior are obtained. 相似文献
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In complete markets economies (Sandroni in Econometrica 68:1303–1341, 2000), or in economies with Pareto optimal outcomes
(Blume and Easley in Econometrica 74:926–966, 2006), the market selection hypothesis holds, as long as traders have identical
discount factors. Traders who survive must have beliefs that merge with the truth. We show that in incomplete markets, regardless
of traders’ discount factors, the market selects for a range of beliefs, at least some of which do not merge with the truth.
We also show that impatient traders with incorrect beliefs can survive and that these incorrect beliefs impact prices. These
beliefs may be chosen so that they are far from the truth. 相似文献
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We analyze the effect of competition in market-accessibility enhancement among quality-differentiated firms. Firms are located in regions with different ex-ante transport costs to reach the final market. We characterize the equilibrium of the two-stage game in which firms first invest to improve market accessibility and then compete in prices. Efforts in accessibility improvement crucially depend on the interplay between the willingness to pay for the quality premium of the median consumer and the ex-ante difference in accessibility between regions. From the social standpoint, also the accessibility investment depends on such a comparison. Finally, we endogenize quality choice and check the robustness of the result to some natural modifications of our assumptions. 相似文献
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Decisions in Economics and Finance - Quite recently, a great interest has been devoted to time-consistency of risk measures in its different formulations (see Delbaen in Memoriam Paul-André... 相似文献